Roblox's Mobile Revenue Took a Nosedive in September
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Roblox (RBLX) hasn't had an amazing year so far in 2023, and I'm not just talking about its stock price which is down about 8% in the last 6 months and sits at less than half its opening price.
What I'm looking at here is in-app revenue from the App Store and Google Play.
Roblox started the year with a massive haul of $73M of net revenue from its mobile apps globally, according to our estimates. And that's net which means what Roblox gets to keep after Apple and Google take their fees.
While not an all-time high, January was decently above-average for Roblox. Our estimates show the all-time high came in January of 2022 with a whopping $108M in net revenue from the App Store and Google Play, but mostly from the App Store.
But the year has also been full of controversy, including allegations that Roblox encourages gambling among kids.
Revenue dropped to $61M in February in $60M in March, and again, that's all after store fees. That's a 20% drop!
The summer brought some growth to Roblox's bottom line with net revenue from both stores growing to $62M in June and $65 in July, but it didn't last.
September was Roblox's lowest month of revenue from its mobile apps. According to our estimates, Roblox earned $52M of net revenue from the App Store and Google Play in September. If you're keeping count, that's a drop of 28% from January.
And that's not all. Compared to 2022, it's likely that Roblox will see less revenue this year. You'd have to be a bit of a gambler to hold its stock right now.
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All figures included in this report are estimated. Unless specified otherwise, estimated revenue is always net, meaning it's the amount the developer earned after Apple and Google took their fee.