Another alarming metric was the drop in average bookings per daily active user (ABPDAU), which fell between 22% and 23% in January 2022. The growth in daily active users dropped to 32% over January 2021, while hours engaged increased at a relatively slower pace of 26%. Roblox pointed out that its January 2022 revenue was up 65% year over year at the midpoint of its guidance to $204.5 million. However, the company's January guidance sent alarm bells ringing. User engagement was also strong, as evident from a 35% year-over-year increase in hours engaged to 41.4 billion. The company also reported a 40% year-over-year increase in daily active users (DAUs) to 45.5 million. Roblox finished 2021 with $1.9 billion in revenue, a terrific 108% jump over the prior year.
However, a closer look at Roblox's end-market opportunity indicates that the stock's troubled times may not last forever, and it could regain its mojo once again. The broader sell-off in technology stocks, a bigger-than-expected loss in the fourth quarter of 2021, and concerns of a slowdown in Roblox's growth in a post-pandemic scenario have weighed heavily on the stock in recent months.
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