In 2024, Roblox experienced a 29% increase in revenue
The financial report from Roblox for the fourth quarter and the entire fiscal year ending December 31, 2024, indicates ongoing expansion, highlighted by a slight reduction in net losses.
Financial Performance:
Fourth Quarter
- Revenue: $988.2 million, a 32% increase compared to the previous year
- Bookings: $1.36 billion, a 21% rise from the same period a year before
- Net losses: $218.4 million, which is lower than the $325 million recorded the previous year
Annual Figures
- Revenue: $3.6 billion, marking a 29% increase year-over-year
- Bookings: $4.36 billion, representing a 24% increase from last year
- Net losses: $935.5 million, down from $1.16 billion the previous year
Key Insights:
Both quarterly and annual revenue and bookings figures displayed robust growth for Roblox.
Despite ongoing significant losses, the amounts have improved compared to earlier periods.
CEO and founder David Baszucki stated, "Roblox had a strong 2024, driven by our commitment to innovation and community." He emphasized the goal of capturing 10% of the global gaming market by enhancing the virtual economy, app performance, and AI-driven discovery and safety to enhance user experiences.
The platform saw a 19% rise in daily active users, reaching 85.3 million in Q4. User engagement measured 18.7 billion hours, reflecting a 21% increase year-over-year.
During the fourth quarter, Roblox's average monthly unique payers reached 18.9 million, with users spending about $23.97 on average each month.
This increase was partially due to Robux, the in-game currency, being made available on more affordable platforms towards year-end in 2024.
"We believe several key drivers enabled us to accelerate growth in 2024 over the prior year and to deliver strong top line growth in Q4 2024," the company commented. It expects these trends to bolster momentum into 2025 and beyond.
This includes technological investments and improvements in the platform's infrastructure to accommodate more simultaneous users.
Nonetheless, Roblox reported encountering "difficult growth comparisons" in the fourth quarter following its expansion onto PlayStation and a major update for Xbox in October 2023, succeeded by "a significant prepaid card purchase in November 2023."
Looking forward, Roblox anticipates revenue ranging from $4.24 billion to $4.34 billion, with bookings expected to be between $5.2 billion and $5.3 billion. The forecast for net losses is projected to be between $1.07 billion and $995 million.