Despite Hitting Higher Revenue Counts And Active Users, Roblox Still Reports Losses

Today, Roblox dropped its financial earnings report for the first quarter of 2023. While revenue is up to $655 million – a 22% increase over last year – and bookings are up 23% at $774 million, the company is reporting a net loss of $268 million. This is with record active user counts toppong 66 million. A year ago, the reported net loss was $160 million.

These losses affected shareholders – which are the people companies really care about – by about $0.44 a share. Again, that’s nearly double last year’s losses at $0.27.

According to Proactiveinvestors.com, Roblox Corp attributes these losses to expenses such as exchange fees, personnel costs, and infrastructure development. This would explain why the company is looking to “lessen investment in headcount” – meaning staff. Although, that may not mean they intend to lay anyone off, but rather may not be hiring new people for a while. Here’s hoping the latter is the case for the game.