Roblox Corporation shared their key metrics for February 2022. The global platform saw 55.1 million daily active users. That is up 28% from February 2021. Meanwhile, total hours spent on Roblox increased 21% year over year to 3.8 billion.
Revenue & Bookings
The company estimates revenue to be between $204 million and $207 million for the month. That equates to an increases in the 60%-63% range year over year.
Estimated bookings were between $203 million and $206 million. That is down 2%-4% compared to February a year ago. Further, estimated average bookings per daily active user was between $3.68 and $3.74. Those stats are down between 24%-25% for the year.
The Roblox Mission
Roblox describes their mission to “connect a billion people with optimism and civility”. The metaverse firm says thy have tens of millions daily users around the world.
Growth Question
Investors had grown concerned about growth at the videogame platform as kids returned to classrooms, according to the Wall Street Journal. Last month, Roblox CFO Michael Guthrie said weekend usage held strong. Meanwhile, weekday engagement slowed because of a decrease on social-distancing restrictions.
Roblox stock saw its 52 week low of $36.04 on March 15, 2022. The stock has since rebounded a bit to $49.62 at Friday’s market close. According to CNBC, the current analyst consensus price target for RBLX is $71.23.
Retailers have been moving into the metaverse. Forever 21 currently has a store within Roblox. According to the Financial Times, more than 200,000 users have visited the virtual shop since it opened in late December. The FT reports that JPMorgan sees a trillion-dollar annual revenue opportunity in the metaverse.
