Roblox Corporation has revealed its financial and operational performance for the first quarter of 2024, alongside guidance for the second quarter and full year. The company posted revenue of $801.3 million, marking a 22% increase year-over-year, with bookings reaching $923.8 million, up 19% year-over-year.

Despite robust revenue and bookings growth, the company reported a net loss attributable to common stockholders of $270.6 million, with a consolidated net loss of $271.9 million. Adjusted EBITDA stood at $(6.9) million, excluding adjustments for increases in deferred revenue and deferred cost of revenue.

Notably, net cash and cash equivalents provided by operating activities soared to $238.9 million, a 37% increase year-over-year, while free cash flow surged to $191.1 million, up 133% year-over-year.

Key operational metrics also showed positive trends, with Average Daily Active Users (DAUs) reaching 77.7 million, an increase of 17% year-over-year. Average monthly unique payers grew to 15.6 million, up 13% year-over-year, with average bookings per monthly unique payer rising to $19.68, a 6% increase year-over-year. Hours engaged totaled 16.7 billion, up 15% year-over-year, while average bookings per DAU reached $11.89, up 2% year-over-year.

David Baszucki, founder and CEO of Roblox, expressed optimism about the company's growth trajectory, highlighting efforts to drive DAUs, Hours, and bookings growth rates back to 20% year-over-year. Initiatives include changes in the AI-driven discovery algorithm, reintroduction of platform-wide events like The Hunt: First Edition, and ongoing improvements to app quality and performance.

Looking ahead, Roblox aims to achieve revenue between $855 million and $880 million in the second quarter of 2024. For the full year, the company expects revenue between $3,450 million and $3,525 million.

Source: adapted from an article by Baran Köse, Author for Mobidictum.