Roblox shares fall 12% after the company’s March update

- Roblox shares fell 12% on Monday after the game company released its March 2023 statistics report that showed it expects average orders per daily user to fall year over year.
- Estimated orders were between $247 million and $255 million for the month, up 23% to 27% year over year, according to the report.
- Daily active users increased by 26% from March 2022 to 66.2 million users.
A child looks back at a banner for Roblox, displayed to celebrate the company’s IPO, on the front facade of the New York Stock Exchange (NYSE) in New York, March 10, 2021.
Brendan McDermid | Reuters
Shares in Roblox fell 12% on Monday after the game company released its March 2023 statistics report which showed it expects average orders per daily user to fall year over year.
Roblox’s estimated average orders per daily active user were between $3.73 and $3.85 in March, reflecting a change of -2% to +1% from the same period a year ago.
Estimated orders were between $247 million and $255 million for the month, up 23% to 27% year over year.
Roblox calls its revenue numbers bookings. The company generates revenue from the sale of its virtual currency called Robux, which players use to dress up their avatars and purchase other premium features in the games. Daily active users increased by 26% from March 2022 to 66.2 million users.
Roblox also said it will stop releasing monthly KPI reports. “While we believe this has provided incremental information to investors regarding the seasonality of the business, we have decided to stop providing key monthly metrics to align our reporting cadence with the value of taking the long view,” it said.
Shares in Roblox are up more than 60% so far this year.