$20B Wiped Off the Stock Value in Two Years<\/strong><\/h3>\nInitially released for PCs in 2006, Roblox became an instant hit drawing millions of players from across the globe. The popularity of the free-to-play gaming platform exploded in 2020, driving revenues and the number of users to new highs. Despite COVID-19 restrictions being lifted, user engagement on Roblox continued surging in 2021.<\/p>\n
The company’s official data showed the number of daily active users hit 43.2 million in mid-2021, a 42% increase YoY, and continued rising by the end of the year. Still, stagnant user numbers and currency headwinds had investors down on the gaming platform company in 2022.<\/p>\n
In November 2022, Roblox had 56.7 million daily active users, up 15% from November 2021. While DAUs were up year-over-year, this number represented a drop from the 58.8 million DAUs Roblox averaged for Q3 2022. Moreover, Roblox’s growth largely came from Europe and Asia-Pacific, which saw 30% and 40% year-over-year growth, respectively. However, currency exchange rates weakened the relative value of foreign revenues.<\/p>\n