Platform sees revenue for Q1 2021 hit $387.0m and average daily active users soar to 42.1 million as company says it will continue to innovate and target international growth.
Roblox has reported its first quarter 2021 financial results, with the gaming platform’s ceo stating that the opportunity of what is being built is “massive”.
Q1 2021 highlights saw revenue increase 140% over Q1 2020 to $387.0 million. Net cash provided by operating activities increase nearly 4x over Q1 2020 to $164.5 million.
On top of this, average daily active users (DAUs) were 42.1 million, an increase of 79% year over year.
This was driven by an 87% growth in DAUs outside of the US/Canada, as well as 111% growth in DAUs over the age of 13.
Hours engaged were 9.7 billion, an increase of 98% year over year, primarily driven by 104% growth in engagement in markets outside of the US/Canada, plus 128% growth from users over the age of 13.
“A fundamental part of being human is connecting with others, and we’re inspired by the way in which the Roblox community creates and shares experiences to play, work and even learn together,” commented David Baszucki, Roblox’s ceo. “The opportunity of what we’re building at Roblox is massive, and we will continue to make long-term investments as we build a human co-experience platform that enables shared experiences among billions of users.”
Michael Guthrie, chief financial officer at Roblox, continued: “We believe we must continue to innovate and so remain focused on building great technology to make progress on our key growth vectors, primarily international expansion and expanding the age demographic of our users.”
March 2021 saw Roblox go public, reaching a first day valuation of $38.3 billion, with many industry watchers seeing it as creating one of the biggest opportunities that the gaming business has been presented with for decades.