Roblox Corporation's second quarter results show strong growth in revenue and playtime in the company’s post-pandemic year, but the company still isn't turning a profit.
Roblox Corporation announced its second quarter results yesterday for financial year 2021. The results show increased revenue and Daily Average Users (both very good signs for the developer in a post-pandemic year), but the company is still struggling to turn a profit even with these increased numbers.
For the three-month ending June 30 2021, Roblox Corporation’s revenue climbed 127 percent year over year to $454.1 million. Daily Average Users grew 29 percent year-over year to 43.2 million compared to the same quarter in 2020, driven by major growth in users outside the US and Canada, as well as growth in players over the age in 13.
However the company is still reporting a loss of $140.1 million for the quarter. Roblox did not share how much loss it endured in the same quarter for 2020—that period was before the company went public.
Despite the continued lack of profit for Roblox Corporation, there’s still some very promising signs for the company in these quarterly numbers. Other companies reporting their second-quarter earnings in 2021 have begun to feel the impact of a post-vaccine world, and aren’t riding the spikes in revenue that followed COVID-19-driven lockdown orders.
Meanwhile Roblox players appear to only be continuing to increase their engagement with the game-building platform, with more players and more revenue than in the early days of the pandemic.
Roblox Corporation has been in a spending mood for the last few weeks too, with the recent acquihire of Jim Greer’s video team and the purchase of online chat platform Guilded making headlines for the business.
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