Roblox(NYSE:RBLX) 
Roblox Corporation develops and operates an online entertainment platform. It offers Roblox Client, an application that allows users to explore 3D digital worlds; and Roblox Studio, a toolset that allows developers and creators to build, publish, and operate 3D experiences and other content. The com...
Website: https://www.roblox.com/
Founded: 2004
IPO Price: $48 (Mar 10, 2021)
Full Time Employees: 2,500 (Dec 2023)
Founder: David Baszucki / Erik Cassel
Co-Founder: Erik Cassel
CEO: David Baszucki
Sector: Entertainment
Industry: Electronic Gaming & Multimedia
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At a glance:
- User Growth and Engagement Remain Core Drivers: Roblox’s performance is closely tied to daily active users (DAUs), hours engaged, and retention, which drive the health of the creator ecosystem and overall platform demand.
- Bookings and Deferred Revenue Are Key Operating Indicators: Because Robux sales are recognized as revenue over time, bookings and changes in deferred revenue often provide a clearer view of underlying demand and future revenue recognition than GAAP revenue alone.
- Monetization Mix Depends on Paying Users and Spend per Payer: Average bookings per DAU, the share of paying users, and spend per paying user are central to monetization trends, influenced by demographics, content mix, and regional expansion.
- Profitability Tied to Infrastructure, Trust & Safety, and Developer Payouts: Margins and cash generation are impacted by cloud/hosting costs, moderation and safety investments, and developer exchange fees—areas that can fluctuate with engagement levels and regulatory requirements.
- Ecosystem and Platform Expansion Are Major Strategic Levers: Growth initiatives often center on improving creator tooling and discovery, expanding internationally, and advancing the platform’s technology stack (e.g., performance, avatars, and immersive experiences) to attract both users and developers.
Bull Thesis:
- Strong User Growth and Engagement: Roblox continues to show high daily active user (DAU) growth, particularly among Gen Z and younger audiences. Its interactive and social-focused platform drives high engagement, suggesting long-term stickiness.
- Expanding Monetization: Roblox is diversifying its revenue streams—not just relying on Robux sales, but also expanding into advertising, subscriptions, and partnerships, setting the stage for stronger monetization per user.
- Creator Ecosystem Flywheel: With a rapidly growing developer community, Roblox supports a self-reinforcing content ecosystem. The platform’s revenue-sharing model incentivizes creators, fostering innovation and content diversity.
- Metaverse Leadership: As one of the leading metaverse platforms, Roblox has a first-mover advantage, extensive brand recognition, and partnerships with major companies aiming to tap into immersive 3D experiences.
Bear Thesis:
- Profitability and Cash Burn: Despite rapid growth, Roblox remains unprofitable, with rising costs related to infrastructure, R&D, and content moderation. Questions remain about the path toward sustainable profitability.
- User Demographics Risk: Roblox’s user base skews very young. As users age, there’s uncertainty if the company can retain them or expand meaningfully into older demographics, limiting addressable market.
- Platform and Regulatory Risks: Roblox faces increasing scrutiny over child safety, content moderation, and potential regulatory pressures. These concerns could prompt higher costs or constrain growth.
- Competition from Big Tech and New Entrants: The broader metaverse/gaming sector is attracting major players (Meta, Epic Games, Microsoft) and newer platforms, increasing competition for both users and creator talent.
Main Competitors:
- Epic Games (Fortnite), Competes directly with Roblox for user engagement, especially among younger audiences, through its flagship game, creator tools (UEFN), and immersive virtual events, evolving into a social and creative platform.
- Mojang Studios (Microsoft) ($MSFT) (Minecraft), A long-standing sandbox game with a massive, creative user base and strong modding community, competing for the attention of young builders and creators in a user-generated content environment.
- Rec Room Inc. (Rec Room), A direct competitor offering a free-to-play social VR game with a strong focus on user-generated content, mini-games, and social interaction, targeting a similar demographic and creator economy model as Roblox.
- Meta Platforms ($META) (Horizon Worlds / Quest Platform), Competes for the future of the metaverse and virtual social spaces, investing heavily in VR hardware (Quest) and its own user-generated content platform (Horizon Worlds), aiming to build an immersive creator economy.
Moat:
Roblox's primary moat lies in its established network effect, massive user base (especially children and teens), and a robust, mature user-generated content (UGC) ecosystem that empowers creators. Competition is fierce and multi-faceted, ranging from direct UGC platforms like Rec Room and Core, to massive gaming/social platforms like Fortnite (Epic Games) that are expanding into metaverse-like experiences, and foundational sandbox games like Minecraft. Additionally, tech giants like Meta are vying for dominance in the broader 'metaverse' concept, which could eventually encompass or compete with Roblox's vision for virtual social interaction and creation. The battlegrounds include user attention, creator talent, monetization opportunities for developers, and the overall stickiness and safety of the virtual environment.
Income Statements:
Quarterly
Annual
| Unit: USD | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
revenue | 1,415,021,000 | 1,359,646,000 | 1,080,677,000 | 1,035,207,000 | 988,183,000 | 918,953,000 | 893,543,000 | 801,300,000 | 749,939,000 | 713,225,000 | 680,766,000 | 655,344,000 | 579,004,000 | 517,707,000 | 591,207,000 | 537,134,000 | 568,769,000 | 509,336,000 | 454,100,000 | 386,976,000 |
yoy | 43.19% | 47.96% | 20.94% | 29.19% | 31.77% | 28.84% | 31.26% | 22.27% | 29.52% | 37.77% | 15.15% | 22.01% | 1.80% | 1.64% | 30.19% | 38.80% | ||||
qoq | 4.07% | 25.81% | 4.39% | 4.76% | 7.53% | 2.84% | 11.51% | 6.85% | 5.15% | 4.77% | 3.88% | 13.18% | 11.84% | -12.43% | 10.07% | -5.56% | 11.67% | 12.16% | 17.35% | |
costs and expenses: | ||||||||||||||||||||
cost of revenue | 315,005,000 | 296,456,000 | 236,113,000 | 224,725,000 | 218,741,000 | 204,998,000 | 198,557,000 | 178,866,000 | 171,664,000 | 163,581,000 | 162,029,000 | 151,841,000 | 142,432,000 | 126,437,000 | 143,157,000 | 135,632,000 | 151,988,000 | 130,015,000 | 116,930,000 | 97,937,000 |
developer exchange fees | 477,240,000 | 427,931,000 | 316,371,000 | 281,564,000 | 280,610,000 | 231,536,000 | 208,270,000 | 202,405,000 | 221,750,000 | 170,719,000 | 165,843,000 | 182,440,000 | 182,115,000 | 151,470,000 | 143,148,000 | 147,122,000 | 159,717,000 | 129,952,000 | 129,714,000 | 118,938,000 |
infrastructure and trust & safety | 329,278,000 | 321,365,000 | 260,684,000 | 242,127,000 | 222,822,000 | 244,598,000 | 221,064,000 | 226,934,000 | 223,310,000 | 218,968,000 | 225,039,000 | 211,044,000 | 198,505,000 | 190,986,000 | 158,235,000 | 141,355,000 | 135,989,000 | 117,387,000 | 108,986,000 | 94,136,000 |
research and development | 409,845,000 | 398,306,000 | 384,996,000 | 374,600,000 | 355,034,000 | 365,424,000 | 361,684,000 | 362,065,000 | 341,129,000 | 321,613,000 | 315,319,000 | 275,537,000 | 248,407,000 | 235,551,000 | 211,757,000 | 177,762,000 | 173,570,000 | 138,245,000 | 124,748,000 | 96,644,000 |
general and administrative | 163,826,000 | 144,990,000 | 152,166,000 | 119,132,000 | 105,323,000 | 98,733,000 | 105,627,000 | 97,824,000 | 98,776,000 | 97,508,000 | 96,197,000 | 97,574,000 | 79,704,000 | 81,165,000 | 78,676,000 | 57,772,000 | 59,383,000 | 51,584,000 | 97,678,000 | 94,375,000 |
sales and marketing | 78,465,000 | 67,133,000 | 52,807,000 | 47,768,000 | 49,765,000 | 52,592,000 | 36,290,000 | 35,534,000 | 48,503,000 | 40,874,000 | 30,328,000 | 26,755,000 | 29,740,000 | 32,105,000 | 26,501,000 | 29,102,000 | 27,772,000 | 19,599,000 | 18,990,000 | 20,002,000 |
total costs and expenses | 1,773,659,000 | 1,656,181,000 | 1,403,137,000 | 1,289,916,000 | 1,232,295,000 | 1,197,881,000 | 1,131,492,000 | 1,103,628,000 | 1,105,132,000 | 1,013,263,000 | 994,755,000 | 945,191,000 | 880,903,000 | 817,714,000 | 761,474,000 | 688,745,000 | 708,419,000 | 586,782,000 | 597,046,000 | 522,032,000 |
operating income | -358,638,000 | -296,535,000 | -322,460,000 | -254,709,000 | -244,112,000 | -278,928,000 | -237,949,000 | -302,328,000 | -355,193,000 | -300,038,000 | -313,989,000 | -289,847,000 | -301,899,000 | -300,007,000 | -170,267,000 | -151,611,000 | -139,650,000 | -77,446,000 | -142,946,000 | -135,056,000 |
yoy | 46.92% | 6.31% | 35.52% | -15.75% | -31.27% | -7.04% | -24.22% | 4.31% | 17.65% | 0.01% | 84.41% | 91.18% | 116.18% | 287.38% | 19.11% | 12.26% | ||||
qoq | 20.94% | -8.04% | 26.60% | 4.34% | -12.48% | 17.22% | -21.29% | -14.88% | 18.38% | -4.44% | 8.33% | -3.99% | 0.63% | 76.20% | 12.31% | 8.56% | 80.32% | -45.82% | 5.84% | |
operating margin % | -25.35% | -21.81% | -29.84% | -24.60% | -24.70% | -30.35% | -26.63% | -37.73% | -47.36% | -42.07% | -46.12% | -44.23% | -52.14% | -57.95% | -28.80% | -28.23% | -24.55% | -15.21% | -31.48% | -34.90% |
interest income | 54,354,000 | 52,089,000 | 48,844,000 | 46,323,000 | 46,260,000 | 46,718,000 | 44,383,000 | 42,170,000 | 39,530,000 | 36,442,000 | 34,764,000 | 31,082,000 | 21,636,000 | 12,764,000 | 4,197,000 | 245,000 | 33,000 | 28,000 | 26,000 | 5,000 |
interest expense | -10,413,000 | -10,352,000 | -10,342,000 | -10,350,000 | -10,331,000 | -10,286,000 | -10,204,000 | -10,363,000 | -10,298,000 | -10,268,000 | -10,129,000 | -10,012,000 | -10,008,000 | -10,005,000 | -9,891,000 | -9,999,000 | ||||
other income | -2,456,000 | -1,770,000 | 5,131,000 | 3,259,000 | -10,221,000 | 2,352,000 | -3,315,000 | -346,000 | 898,000 | -4,262,000 | 3,277,000 | -440,000 | 1,988,000 | -4,302,000 | -3,051,000 | -379,000 | 14,000 | -770,000 | 10,000 | -1,050,000 |
income before income taxes | -317,153,000 | -256,568,000 | -278,827,000 | -215,477,000 | -218,404,000 | -240,144,000 | -207,085,000 | -270,867,000 | -325,063,000 | -278,126,000 | -286,077,000 | -269,217,000 | -288,283,000 | -301,550,000 | -179,012,000 | -161,744,000 | ||||
provision for income taxes | 954,000 | 803,000 | 973,000 | 863,000 | 2,648,000 | 303,000 | 110,000 | 1,053,000 | 277,000 | 682,000 | -1,236,000 | 731,000 | 3,202,000 | 352,000 | -278,000 | 276,000 | 656,000 | -998,000 | 20,000 | 2,000 |
consolidated net incomes | -318,107,000 | -257,371,000 | -279,800,000 | -216,340,000 | -221,052,000 | -240,447,000 | -207,195,000 | -271,920,000 | -325,340,000 | -278,808,000 | -284,841,000 | -269,948,000 | -291,485,000 | -301,902,000 | -178,734,000 | -162,020,000 | -147,257,000 | -77,190,000 | -142,930,000 | -136,103,000 |
net income attributable to noncontrolling interest | -2,107,000 | -1,745,000 | -1,425,000 | -1,284,000 | -1,479,000 | -1,123,000 | -1,312,000 | -1,316,000 | -1,642,000 | -1,650,000 | -2,064,000 | -1,635,000 | ||||||||
net income | -316,000,000 | -255,626,000 | -278,375,000 | -215,056,000 | -219,573,000 | -239,324,000 | -205,883,000 | -270,604,000 | -323,698,000 | -277,158,000 | -282,777,000 | -268,313,000 | -289,926,000 | -297,798,000 | -176,440,000 | -160,202,000 | -143,298,000 | -74,002,000 | -140,134,000 | -134,217,000 |
yoy | 43.92% | 6.81% | 35.21% | -20.53% | -32.17% | -13.65% | -27.19% | 0.85% | 11.65% | -6.93% | 60.27% | 67.48% | 102.32% | 302.42% | 25.91% | 19.36% | ||||
qoq | 23.62% | -8.17% | 29.44% | -2.06% | -8.25% | 16.24% | -23.92% | -16.40% | 16.79% | -1.99% | 5.39% | -7.45% | -2.64% | 68.78% | 10.14% | 11.80% | 93.64% | -47.19% | 4.41% | |
net income margin % | -22.33% | -18.80% | -25.76% | -20.77% | -22.22% | -26.04% | -23.04% | -33.77% | -43.16% | -38.86% | -41.54% | -40.94% | -50.07% | -57.52% | -29.84% | -29.83% | -25.19% | -14.53% | -30.86% | -34.68% |
net income per share | -0.45 | -0.37 | -0.41 | -0.32 | -0.33 | -0.37 | -0.32 | -0.43 | -0.52 | -0.45 | -0.46 | -0.44 | -0.48 | -0.5 | -0.3 | -0.27 | -0.24 | -0.13 | -0.25 | -0.46 |
weighted-average shares used for eps calculation | 689,612 | 697,282 | 684,837 | 671,657 | 647,482 | 650,961 | 642,814 | 635,020 | 616,445 | 619,350 | 612,689 | 606,637 | 595,559 | 597,779 | 593,928 | 588,521 | 505,858 | 575,932 | 571,300 | 291,074 |
net loss attributable to noncontrolling interests | -1,559,000 | -4,104,000 | -2,294,000 | -1,818,000 | -3,959,000 | -3,188,000 | -2,796,000 | -1,886,000 | ||||||||||||
income before provision for income taxes | -89,299,750 | -78,188,000 | -142,910,000 | -136,101,000 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
assets | ||||||||||||||||||||
current assets: | ||||||||||||||||||||
cash and cash equivalents | 1,205,319,000 | 1,016,825,000 | 994,570,000 | 1,158,680,000 | 711,683,000 | 602,631,000 | 966,406,000 | 866,414,000 | 678,466,000 | 580,049,000 | 520,264,000 | 828,129,000 | 2,977,474,000 | 3,021,507,000 | 3,075,475,000 | 3,132,964,000 | 3,004,300,000 | 1,925,559,000 | 1,780,262,000 | 1,600,530,000 |
short-term investments | 1,849,823,000 | 1,843,675,000 | 1,632,626,000 | 1,585,849,000 | 1,697,862,000 | 1,720,323,000 | 1,445,689,000 | 1,543,819,000 | 1,514,808,000 | 1,576,293,000 | 1,599,602,000 | 1,412,862,000 | ||||||||
accounts receivable | 900,646,000 | 634,267,000 | 524,488,000 | 403,506,000 | 614,838,000 | 385,591,000 | 345,809,000 | 331,677,000 | 505,769,000 | 285,315,000 | 257,355,000 | 265,246,000 | 379,353,000 | 185,831,000 | 186,825,000 | 179,732,000 | 307,349,000 | 168,762,000 | 217,010,000 | 233,781,000 |
prepaid expenses and other current assets | 109,294,000 | 96,242,000 | 100,562,000 | 88,970,000 | 75,415,000 | 70,702,000 | 87,100,000 | 88,537,000 | 74,549,000 | 65,004,000 | 69,107,000 | 76,307,000 | 61,641,000 | 72,925,000 | 57,595,000 | 43,123,000 | 32,091,000 | 37,667,000 | 45,432,000 | 29,135,000 |
deferred cost of revenue, current portion | 832,941,000 | 761,967,000 | 694,377,000 | 654,636,000 | 628,232,000 | 588,915,000 | 559,278,000 | 525,570,000 | 501,821,000 | 462,795,000 | 447,962,000 | 435,528,000 | 420,136,000 | 387,817,000 | 405,891,000 | 398,194,000 | 406,025,000 | 379,611,000 | 351,573,000 | 309,388,000 |
total current assets | 4,898,023,000 | 4,352,976,000 | 3,946,623,000 | 3,891,641,000 | 3,728,030,000 | 3,368,162,000 | 3,404,282,000 | 3,356,017,000 | 3,275,413,000 | 2,969,456,000 | 2,894,290,000 | 3,018,072,000 | 3,838,604,000 | 3,668,080,000 | 3,725,786,000 | 3,754,013,000 | 3,749,765,000 | 2,511,599,000 | 2,394,277,000 | 2,172,834,000 |
long-term investments | 2,492,593,000 | 2,360,642,000 | 2,111,258,000 | 1,766,011,000 | 1,610,215,000 | 1,558,846,000 | 1,189,135,000 | 1,059,246,000 | 1,043,399,000 | 959,260,000 | 904,897,000 | 850,929,000 | ||||||||
property and equipment—net | 884,776,000 | 677,024,000 | 613,707,000 | 617,127,000 | 659,589,000 | 642,637,000 | 675,075,000 | 691,292,000 | 695,360,000 | 709,382,000 | 684,734,000 | 688,341,000 | 592,346,000 | 525,928,000 | 425,950,000 | 338,879,000 | 271,352,000 | 227,330,000 | 218,581,000 | 209,794,000 |
operating lease right-of-use assets | 651,055,000 | 617,457,000 | 634,624,000 | 660,471,000 | 665,885,000 | 626,486,000 | 722,493,000 | 715,501,000 | 665,107,000 | 662,379,000 | 674,928,000 | 492,686,000 | 526,030,000 | 452,852,000 | 424,416,000 | 286,242,000 | 221,285,000 | 220,404,000 | 228,232,000 | 205,117,000 |
deferred cost of revenue, long-term | 448,169,000 | 397,375,000 | 350,052,000 | 326,240,000 | 321,824,000 | 295,894,000 | 277,614,000 | 292,509,000 | 283,326,000 | 244,547,000 | 235,903,000 | 229,877,000 | 225,132,000 | 204,921,000 | 154,328,000 | 159,404,000 | 137,524,000 | 125,643,000 | 127,011,000 | 123,595,000 |
intangible assets | 18,234,000 | 22,777,000 | 25,827,000 | 29,983,000 | 34,153,000 | 38,486,000 | 43,113,000 | 47,938,000 | 53,060,000 | 56,794,000 | 59,176,000 | 50,739,000 | 54,717,000 | 53,655,000 | 56,317,000 | 55,854,000 | 59,666,000 | 63,478,000 | 38,079,000 | 40,202,000 |
goodwill | 142,624,000 | 142,630,000 | 142,610,000 | 141,972,000 | 141,688,000 | 142,236,000 | 141,900,000 | 141,956,000 | 142,129,000 | 141,800,000 | 134,335,000 | 134,335,000 | 134,335,000 | 130,453,000 | 130,453,000 | 118,071,000 | 118,071,000 | 118,071,000 | 59,568,000 | 59,568,000 |
other assets | 21,644,000 | 19,928,000 | 20,870,000 | 18,804,000 | 13,619,000 | 15,215,000 | 16,904,000 | 10,212,000 | 10,284,000 | 10,512,000 | 11,014,000 | 6,481,000 | 4,323,000 | 2,435,000 | 2,170,000 | 3,368,000 | 2,933,000 | 5,755,000 | 8,043,000 | 4,969,000 |
total assets | 9,557,118,000 | 8,590,809,000 | 7,845,571,000 | 7,452,249,000 | 7,175,003,000 | 6,687,962,000 | 6,470,516,000 | 6,314,671,000 | 6,168,078,000 | 5,754,130,000 | 5,599,277,000 | 5,471,460,000 | 5,375,487,000 | 5,038,324,000 | 4,919,420,000 | 4,715,831,000 | 4,560,596,000 | 3,272,280,000 | 3,073,791,000 | 2,816,079,000 |
liabilities and stockholders’ equity | ||||||||||||||||||||
current liabilities: | ||||||||||||||||||||
accounts payable | 64,948,000 | 88,637,000 | 61,796,000 | 52,543,000 | 42,885,000 | 42,842,000 | 38,877,000 | 49,078,000 | 60,087,000 | 86,781,000 | 72,829,000 | 120,256,000 | 71,182,000 | 45,099,000 | 77,509,000 | 54,295,000 | 64,395,000 | 20,733,000 | 11,112,000 | 8,269,000 |
accrued expenses and other current liabilities | 396,451,000 | 341,228,000 | 317,150,000 | 277,249,000 | 275,754,000 | 273,694,000 | 269,839,000 | 273,649,000 | 271,121,000 | 260,395,000 | 216,273,000 | 247,949,000 | 236,006,000 | 273,832,000 | 231,199,000 | 223,323,000 | 180,769,000 | 157,916,000 | 182,084,000 | 122,285,000 |
developer exchange liability | 496,020,000 | 391,689,000 | 314,174,000 | 346,160,000 | 339,600,000 | 330,271,000 | 330,289,000 | 292,676,000 | 314,866,000 | 239,428,000 | 220,548,000 | 227,839,000 | 231,704,000 | 168,367,000 | 147,192,000 | 149,816,000 | 163,906,000 | 117,756,000 | 90,615,000 | 84,337,000 |
deferred revenue—current portion | 4,168,971,000 | 3,708,932,000 | 3,365,460,000 | 3,143,701,000 | 3,004,969,000 | 2,792,396,000 | 2,662,087,000 | 2,513,339,000 | 2,406,292,000 | 2,208,531,000 | 2,117,043,000 | 2,037,696,000 | 1,941,943,000 | 1,750,860,000 | 1,807,639,000 | 1,747,294,000 | 1,758,022,000 | 1,621,186,000 | 1,488,200,000 | 1,295,464,000 |
total current liabilities | 5,126,390,000 | 4,530,486,000 | 4,058,580,000 | 3,819,653,000 | 3,663,208,000 | 3,439,203,000 | 3,301,092,000 | 3,128,742,000 | 3,052,366,000 | 2,795,135,000 | 2,626,693,000 | 2,633,740,000 | 2,480,835,000 | 2,238,158,000 | 2,263,539,000 | 2,174,728,000 | 2,167,092,000 | 1,917,591,000 | 1,772,011,000 | 1,510,355,000 |
deferred revenue—net of current portion | 2,336,959,000 | 1,978,861,000 | 1,749,480,000 | 1,606,171,000 | 1,567,007,000 | 1,397,803,000 | 1,311,787,000 | 1,393,807,000 | 1,373,250,000 | 1,188,815,000 | 1,149,346,000 | 1,123,321,000 | 1,095,291,000 | 960,924,000 | 716,154,000 | 724,359,000 | 616,834,000 | 550,118,000 | 551,665,000 | 528,904,000 |
operating lease liabilities | 643,356,000 | 617,898,000 | 641,132,000 | 666,957,000 | 670,051,000 | 620,257,000 | 706,018,000 | 693,815,000 | 646,506,000 | 629,756,000 | 641,664,000 | 467,187,000 | 494,590,000 | 425,973,000 | 399,776,000 | 259,841,000 | 194,616,000 | 196,447,000 | 206,376,000 | 184,721,000 |
long-term debt | 993,098,000 | 992,736,000 | 992,377,000 | 1,006,722,000 | 1,006,371,000 | 1,006,023,000 | 1,005,679,000 | 1,005,338,000 | 1,005,000,000 | 1,004,666,000 | 1,004,335,000 | 989,308,000 | 988,984,000 | 988,663,000 | 988,345,000 | 988,034,000 | 987,723,000 | |||
other long-term liabilities | 82,335,000 | 80,591,000 | 66,346,000 | 56,151,000 | 59,712,000 | 46,218,000 | 34,639,000 | 30,282,000 | 22,330,000 | 15,904,000 | 13,039,000 | 12,722,000 | 10,752,000 | 13,000 | 13,000 | 1,408,000 | 1,408,000 | 2,293,000 | 1,700,000 | 505,000 |
total liabilities | 9,182,138,000 | 8,200,572,000 | 7,507,915,000 | 7,155,654,000 | 6,966,349,000 | 6,509,504,000 | 6,359,215,000 | 6,251,984,000 | 6,099,452,000 | 5,634,276,000 | 5,435,077,000 | 5,226,278,000 | 5,070,452,000 | 4,613,731,000 | 4,367,827,000 | 4,148,370,000 | 3,967,673,000 | 2,666,449,000 | 2,531,752,000 | 2,224,485,000 |
commitments and contingencies | ||||||||||||||||||||
stockholders’ equity | ||||||||||||||||||||
common stock, 0.0001 par value... | 64,000 | 64,000 | 64,000 | 63,000 | 62,000 | 62,000 | 61,000 | 61,000 | 61,000 | 60,000 | 60,000 | 60,000 | 59,000 | 59,000 | 59,000 | 59,000 | 58,000 | 58,000 | 57,000 | 57,000 |
additional paid-in capital | 5,438,559,000 | 5,136,014,000 | 4,828,393,000 | 4,516,341,000 | 4,220,916,000 | 3,949,491,000 | 3,664,414,000 | 3,407,986,000 | 3,134,946,000 | 2,878,160,000 | 2,641,929,000 | 2,424,340,000 | 2,213,603,000 | 2,041,042,000 | 1,867,204,000 | 1,705,201,000 | 1,568,638,000 | 1,434,190,000 | 1,293,160,000 | 1,199,833,000 |
accumulated other comprehensive income | 16,555,000 | 16,185,000 | 13,832,000 | 4,976,000 | -3,895,000 | 16,416,000 | -6,229,000 | -5,589,000 | 1,536,000 | -15,879,000 | -14,095,000 | 62,000 | 671,000 | 997,000 | 408,000 | -30,000 | 62,000 | 112,000 | 114,000 | 90,000 |
accumulated deficit | -5,060,694,000 | -4,744,694,000 | -4,489,068,000 | -4,210,693,000 | -3,995,637,000 | -3,776,064,000 | -3,536,740,000 | -3,330,857,000 | -3,060,253,000 | -2,736,555,000 | -2,459,397,000 | -2,176,620,000 | -1,908,307,000 | -1,618,381,000 | -1,320,583,000 | -1,144,143,000 | -983,941,000 | -840,643,000 | -766,641,000 | -626,507,000 |
total roblox corporation stockholders’ equity | 394,484,000 | 407,569,000 | 353,221,000 | 310,687,000 | 221,446,000 | 189,905,000 | 121,506,000 | 71,601,000 | 76,290,000 | 125,786,000 | 168,497,000 | 247,842,000 | 306,026,000 | 423,717,000 | 547,088,000 | 561,087,000 | 584,817,000 | 593,717,000 | 526,690,000 | 573,473,000 |
noncontrolling interest | -19,504,000 | -17,332,000 | -15,565,000 | -14,092,000 | -12,792,000 | -11,447,000 | ||||||||||||||
total stockholders’ equity | 374,980,000 | 390,237,000 | 337,656,000 | 296,595,000 | 208,654,000 | 178,458,000 | 111,301,000 | 62,687,000 | 68,626,000 | 119,854,000 | 164,200,000 | 245,182,000 | 305,035,000 | 424,593,000 | 551,593,000 | 567,461,000 | 592,923,000 | 605,831,000 | 542,039,000 | 591,594,000 |
total liabilities and stockholders’ equity | 9,557,118,000 | 8,590,809,000 | 7,845,571,000 | 7,452,249,000 | 7,175,003,000 | 6,687,962,000 | 6,470,516,000 | 6,314,671,000 | 6,168,078,000 | 5,754,130,000 | 5,599,277,000 | 5,471,460,000 | 5,375,487,000 | 5,038,324,000 | 4,919,420,000 | 4,715,831,000 | 4,560,596,000 | 3,272,280,000 | 3,073,791,000 | 2,816,079,000 |
noncontrolling interests | -10,205,000 | -8,914,000 | -7,664,000 | -5,932,000 | -4,297,000 | -2,660,000 | -991,000 | 876,000 | 4,505,000 | 6,374,000 | 8,106,000 | 12,114,000 | 15,349,000 | 18,121,000 | ||||||
convertible preferred stock | ||||||||||||||||||||
convertible preferred stock, series a, b, c, d, d-1, e, f, and g 0.0001 par value... | ||||||||||||||||||||
stockholders’ equity/ | ||||||||||||||||||||
liabilities, convertible preferred stock, and stockholders’ equity | ||||||||||||||||||||
preferred stock; 0.0001 par value per share... |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
cash flows from operating activities: | ||||||||||||||||||||
consolidated net loss | -318,107,000 | -257,371,000 | -279,800,000 | -216,340,000 | -221,052,000 | -240,447,000 | -207,195,000 | -271,920,000 | -325,340,000 | -278,808,000 | -284,841,000 | -269,948,000 | -291,485,000 | -301,902,000 | -178,734,000 | -162,020,000 | -147,257,000 | -77,190,000 | -142,930,000 | -136,103,000 |
adjustments to reconcile consolidated net loss to net cash and cash equivalents from operating activities: | ||||||||||||||||||||
depreciation and amortization expense | 62,989,000 | 55,313,000 | 53,784,000 | 53,734,000 | 51,311,000 | 68,613,000 | 52,772,000 | 53,741,000 | ||||||||||||
stock-based compensation expense | 298,376,000 | 286,930,000 | 284,762,000 | 258,936,000 | 258,236,000 | 265,165,000 | 251,891,000 | 240,502,000 | 250,679,000 | 220,022,000 | 212,362,000 | 184,904,000 | 169,456,000 | 161,359,000 | 146,388,000 | 112,295,000 | 120,220,000 | 89,319,000 | 81,659,000 | 50,744,000 |
operating lease non-cash expense | 31,614,000 | 27,944,000 | 30,419,000 | 30,300,000 | 29,527,000 | 31,104,000 | 29,766,000 | 27,722,000 | 26,262,000 | 26,048,000 | 23,509,000 | 21,244,000 | 19,985,000 | 18,815,000 | 16,303,000 | 13,997,000 | 11,858,000 | 11,392,000 | ||
amortization on marketable securities | -19,368,000 | -22,393,000 | -20,909,000 | -19,535,000 | -19,998,000 | -20,943,000 | -20,474,000 | -19,623,000 | -12,122,000 | |||||||||||
amortization of debt issuance costs | 362,000 | 359,000 | 355,000 | 351,000 | 348,000 | 344,000 | 341,000 | 338,000 | 334,000 | 331,000 | 327,000 | 324,000 | 321,000 | 318,000 | 311,000 | 311,000 | ||||
impairment expense, loss on investments and other asset sales, and other | ||||||||||||||||||||
changes in operating assets and liabilities, net of effect of acquisitions: | ||||||||||||||||||||
accounts receivable | -269,269,000 | -109,112,000 | -123,636,000 | 211,324,000 | -229,939,000 | -40,585,000 | -14,023,000 | 174,068,000 | -219,346,000 | -29,454,000 | 9,435,000 | 113,193,000 | -192,427,000 | 1,630,000 | -9,865,000 | 128,183,000 | -138,130,000 | 47,126,000 | 16,704,000 | 13,256,000 |
prepaid expenses and other current assets | -12,205,000 | 2,912,000 | -12,036,000 | -12,449,000 | -6,480,000 | 16,295,000 | 2,355,000 | -15,310,000 | -10,909,000 | 4,298,000 | 2,200,000 | -8,359,000 | 8,835,000 | -15,681,000 | -15,983,000 | -10,940,000 | 5,908,000 | 7,763,000 | -16,297,000 | -10,967,000 |
deferred cost of revenue | -122,780,000 | -115,294,000 | -63,102,000 | -30,219,000 | -66,206,000 | -46,876,000 | -19,247,000 | -33,368,000 | -77,805,000 | -23,477,000 | -18,460,000 | -20,137,000 | -52,530,000 | -32,519,000 | -2,621,000 | -14,049,000 | -38,296,000 | -26,669,000 | -45,601,000 | -62,262,000 |
other assets | -148,000 | 922,000 | -2,018,000 | -5,146,000 | 1,546,000 | 1,744,000 | -6,717,000 | 51,000 | 228,000 | 502,000 | -4,533,000 | -2,158,000 | -1,719,000 | -266,000 | 1,199,000 | -435,000 | 2,821,000 | 2,288,000 | -3,075,000 | -3,401,000 |
accounts payable | 3,657,000 | 8,262,000 | -5,534,000 | 18,967,000 | -3,123,000 | 4,424,000 | -5,252,000 | -3,576,000 | -7,330,000 | 2,279,000 | -16,731,000 | 18,307,000 | 18,633,000 | 2,304,000 | -6,867,000 | -3,768,000 | 23,599,000 | -2,543,000 | 3,095,000 | -782,000 |
accrued expenses and other current liabilities | 47,186,000 | 29,061,000 | 12,884,000 | -5,200,000 | 12,573,000 | 8,238,000 | -14,295,000 | -9,221,000 | 11,279,000 | 19,745,000 | -5,340,000 | -17,004,000 | 12,578,000 | 2,642,000 | 6,406,000 | -2,066,000 | 20,711,000 | -36,031,000 | 57,856,000 | 16,273,000 |
developer exchange liability | 104,331,000 | 77,515,000 | -31,987,000 | 6,561,000 | 9,329,000 | -18,000 | 37,613,000 | -22,190,000 | 75,438,000 | 18,880,000 | -7,291,000 | -3,865,000 | 63,337,000 | 21,175,000 | -2,624,000 | -14,090,000 | 46,150,000 | 27,141,000 | 6,278,000 | 3,425,000 |
deferred revenue | 822,183,000 | 574,379,000 | 363,260,000 | 175,496,000 | 385,613,000 | 212,159,000 | 68,466,000 | 129,184,000 | 382,196,000 | 130,943,000 | 105,372,000 | 123,783,000 | 325,450,000 | 187,991,000 | 52,140,000 | 96,797,000 | 203,552,000 | 131,439,000 | 215,497,000 | 269,439,000 |
operating lease liabilities | -27,257,000 | -31,474,000 | -27,591,000 | -25,496,000 | -22,807,000 | -25,292,000 | -10,226,000 | -19,103,000 | -3,617,000 | -15,994,000 | -18,844,000 | -11,999,000 | -14,886,000 | -11,259,000 | -10,021,000 | -11,709,000 | -10,688,000 | -11,413,000 | -29,790,000 | 17,148,000 |
other long-term liabilities | 909,000 | 13,757,000 | 9,672,000 | 2,678,000 | 7,286,000 | 11,564,000 | 4,355,000 | 7,963,000 | ||||||||||||
net cash and cash equivalents from operating activities | 606,998,000 | 546,184,000 | 199,262,000 | 443,914,000 | 184,491,000 | 247,430,000 | 151,449,000 | 238,946,000 | 143,305,000 | 112,704,000 | 28,390,000 | 173,781,000 | ||||||||
capital expenditures | -298,421,000 | -102,582,000 | -22,610,000 | -17,365,000 | -63,860,000 | -29,405,000 | -39,701,000 | -46,680,000 | -65,197,000 | -53,196,000 | -110,915,000 | -91,359,000 | ||||||||
free cash flows | 308,577,000 | 443,602,000 | 176,652,000 | 426,549,000 | 120,631,000 | 218,025,000 | 111,748,000 | 192,266,000 | 78,108,000 | 59,508,000 | -82,525,000 | 82,422,000 | ||||||||
cash flows from investing activities: | ||||||||||||||||||||
acquisition of property and equipment | -298,421,000 | -102,582,000 | -22,610,000 | -17,365,000 | -63,860,000 | -29,405,000 | -39,701,000 | -46,680,000 | -65,197,000 | -53,196,000 | -110,915,000 | -91,359,000 | -157,205,000 | -133,356,000 | -83,812,000 | -51,790,000 | -44,942,000 | -2,963,000 | -23,235,000 | -22,133,000 |
payments related to business combination, net of cash acquired | 0 | -840,000 | 0 | -7,223,000 | 0 | 0 | ||||||||||||||
purchases of intangible assets | -1,500,000 | 0 | 0 | -170,000 | -1,200,000 | 0 | 0 | -13,000,000 | -500,000 | 0 | 0 | -7,600,000 | 0 | -256,000 | ||||||
purchases of investments | -1,365,769,000 | -1,460,566,000 | -1,440,877,000 | -1,169,947,000 | -1,168,353,000 | -1,607,405,000 | -834,026,000 | -1,032,756,000 | -788,063,000 | -761,151,000 | -702,560,000 | -2,340,200,000 | ||||||||
maturities of investments | 1,007,912,000 | 859,189,000 | 809,200,000 | 1,000,250,000 | 920,200,000 | 842,450,000 | 715,500,000 | 873,820,000 | 686,709,000 | 632,000,000 | ||||||||||
sales of investments | 238,262,000 | 161,492,000 | 259,920,000 | 151,771,000 | 227,501,000 | 161,547,000 | 105,074,000 | 128,232,000 | 115,416,000 | 117,487,000 | 145,000,000 | 84,279,000 | ||||||||
net cash and cash equivalents from investing activities | -419,516,000 | -543,467,000 | -394,367,000 | -35,291,000 | -84,512,000 | -633,653,000 | -55,323,000 | -78,584,000 | -51,135,000 | -68,719,000 | -357,465,000 | -2,347,780,000 | ||||||||
cash flows from financing activities: | ||||||||||||||||||||
proceeds from issuance of common stock | 4,021,000 | 20,813,000 | 27,161,000 | 36,531,000 | 13,148,000 | 19,949,000 | 4,577,000 | 32,670,000 | 5,910,000 | 16,209,000 | 5,635,000 | 25,472,000 | 3,046,000 | 12,830,000 | 5,548,000 | 24,328,000 | 13,899,000 | 20,389,000 | 11,668,000 | 30,221,000 |
financing payments related to acquisitions | 0 | 0 | ||||||||||||||||||
proceeds from debt issuances | 0 | 0 | ||||||||||||||||||
net cash and cash equivalents from financing activities | 4,021,000 | 20,813,000 | 27,161,000 | 36,531,000 | 13,148,000 | 19,949,000 | 4,577,000 | 28,220,000 | 5,910,000 | 16,209,000 | 20,335,000 | 24,722,000 | ||||||||
effect of exchange rate changes on cash and cash equivalents | -3,009,000 | -1,275,000 | 3,834,000 | 1,843,000 | -4,075,000 | 2,499,000 | -711,000 | -634,000 | 337,000 | -409,000 | 875,000 | -68,000 | 1,064,000 | 863,000 | -6,000 | -3,000 | ||||
net increase in cash and cash equivalents | 188,494,000 | 22,255,000 | -164,110,000 | 446,997,000 | 109,052,000 | -363,775,000 | 99,992,000 | 187,948,000 | 98,417,000 | 59,785,000 | -307,865,000 | -2,149,345,000 | -53,968,000 | -57,489,000 | 128,664,000 | 145,297,000 | 179,732,000 | 706,587,000 | ||
cash and cash equivalents | ||||||||||||||||||||
beginning of period | 0 | 0 | 0 | 711,683,000 | 0 | 0 | 678,466,000 | 0 | 0 | 2,977,474,000 | 0 | 0 | 3,004,300,000 | 0 | 0 | 893,943,000 | ||||
end of period | 188,494,000 | 22,255,000 | -164,110,000 | 1,158,680,000 | -363,775,000 | 99,992,000 | 866,414,000 | 59,785,000 | -307,865,000 | 828,129,000 | -53,968,000 | -57,489,000 | 3,132,964,000 | 145,297,000 | 179,732,000 | 1,600,530,000 | ||||
supplemental disclosure of cash flow information: | ||||||||||||||||||||
cash paid for interest | 19,375,000 | 0 | ||||||||||||||||||
supplemental disclosure of noncash investing and financing activities: | ||||||||||||||||||||
property and equipment additions in accounts payable, accrued expenses and other current liabilities, and other long-term liabilities | -31,174,000 | 11,247,000 | 21,294,000 | 15,093,000 | ||||||||||||||||
intangible asset purchases in accounts payable | ||||||||||||||||||||
accretion on marketable securities | -15,760,000 | |||||||||||||||||||
impairment expense, loss on investment and other asset sales, and other | -2,159,000 | 4,901,000 | -215,000 | 1,907,000 | 380,000 | 63,000 | 1,222,000 | 1,578,000 | -2,067,000 | 8,236,000 | ||||||||||
adjustments to reconcile net loss including noncontrolling interests to net cash and cash equivalents from operations: | ||||||||||||||||||||
payment of withholding taxes related to net share settlement of restricted stock units | 0 | 0 | 0 | -150,000 | ||||||||||||||||
payment of debt issuance costs | ||||||||||||||||||||
other financing activities | ||||||||||||||||||||
beginning of year | ||||||||||||||||||||
end of year | ||||||||||||||||||||
cash paid for income taxes | 66,000 | |||||||||||||||||||
fair value of unregistered restricted stock awards issued as consideration for a business combination | ||||||||||||||||||||
adjustments to reconcile net loss including noncontrolling interest to net cash and cash equivalents from operations: | ||||||||||||||||||||
property and equipment additions in accounts payable and accrued expenses and other liabilities | -215,000 | -6,614,000 | 30,084,000 | 20,985,000 | -68,354,000 | 109,617,000 | ||||||||||||||
payments related to business combination, after acquisition date | -4,450,000 | 0 | 0 | 0 | -750,000 | 0 | ||||||||||||||
depreciation and amortization | 54,531,000 | 53,600,000 | 52,599,000 | 47,412,000 | 42,538,000 | 34,052,000 | 28,996,000 | 24,497,000 | 22,183,000 | 19,029,000 | 17,790,000 | 16,620,000 | ||||||||
other long-term liability | 6,426,000 | 2,685,000 | 316,000 | 1,970,000 | 10,738,000 | 0 | -167,000 | -1,606,000 | 280,000 | 304,000 | ||||||||||
net proceeds from issuance of preferred stock | 0 | 0 | 0 | 534,286,000 | ||||||||||||||||
property and equipment additions in accounts payable and accrued expenses and other current liabilities | ||||||||||||||||||||
conversion of convertible preferred stock to common stock upon direct listing | 0 | 0 | 0 | 879,113,000 | ||||||||||||||||
unpaid debt issuance costs | ||||||||||||||||||||
payment of term license related obligations | -1,236,000 | 0 | ||||||||||||||||||
fair value of common stock and unregistered restricted stock units issued as consideration for business combination | ||||||||||||||||||||
payment of debt issuance cost | 0 | 0 | -154,000 | |||||||||||||||||
adjustments to reconcile net loss including noncontrolling interests to net cash, cash equivalents, and restricted cash from operations: | ||||||||||||||||||||
change in fair value of warrants | ||||||||||||||||||||
other non-cash charges/ | 395,000 | -1,515,000 | 2,048,000 | -567,000 | -457,000 | 1,121,000 | 68,000 | -52,000 | ||||||||||||
net cash, cash equivalents, and restricted cash from operating activities | ||||||||||||||||||||
purchases of short-term investments | ||||||||||||||||||||
maturities of short-term investments | ||||||||||||||||||||
net cash, cash equivalents, and restricted cash from investing activities | ||||||||||||||||||||
proceeds from issuance of preferred stock for warrant exercises | ||||||||||||||||||||
proceeds from 2030 notes | ||||||||||||||||||||
net cash, cash equivalents, and restricted cash from financing activities | ||||||||||||||||||||
effect of exchange rate changes on cash, cash equivalents, and restricted cash | ||||||||||||||||||||
net increase in cash, cash equivalents, and restricted cash | ||||||||||||||||||||
cash, cash equivalents, and restricted cash | ||||||||||||||||||||
property and equipment additions in accounts payable and accrued expenses | -53,922,000 | -3,489,000 | 27,797,000 | 86,813,000 | 17,453,000 | 22,115,000 | 1,344,000 | 9,476,000 | ||||||||||||
fair value of common stock and unregistered restricted units issued as consideration for business combination | ||||||||||||||||||||
fair value of common stock issued in exchange for intangible asset purchase | ||||||||||||||||||||
adjustments to reconcile net loss including noncontrolling interests to net cash from operations: | ||||||||||||||||||||
changes in operating assets and liabilities, net of effect of acquisitions | ||||||||||||||||||||
net cash from operating activities | 67,144,000 | 26,497,000 | 156,436,000 | 122,223,000 | 181,166,000 | 191,251,000 | 164,469,000 | |||||||||||||
net cash from investing activities | -134,856,000 | -89,977,000 | -51,790,000 | -44,942,000 | -56,255,000 | -23,235,000 | -22,389,000 | |||||||||||||
net cash from financing activities | 12,680,000 | 5,128,000 | 24,024,000 | 1,001,560,000 | 20,389,000 | 11,668,000 | 564,507,000 | |||||||||||||
capital contribution from noncontrolling interest holder | ||||||||||||||||||||
effect of exchange rate changes on cash, cash equivalents and restricted cash | ||||||||||||||||||||
net increase in cash, cash equivalents and restricted cash | ||||||||||||||||||||
changes in operating assets and liabilities: | ||||||||||||||||||||
operating lease right of use assets | -9,173,000 |