Roblox

NYSE: RBLX

Revenue

$5.69B

+41.3% YoY

Gross margin

78.9%

+93 bps YoY

Average daily active users (DAUs)

123.0M

+10.0% YoY

Free Cash Flow to Firm

−$145.14M

Last twelve months to June 30, 2026

01

Business overview

Company overview

Roblox describes itself as an immersive gaming and creation platform that offers people millions of ways to be together. Its platform consists of the Roblox Client, the Roblox Studio and the Roblox Cloud, and its mission is to connect a billion users with optimism and civility.

How Roblox makes money

Roblox generates substantially all of its revenue through the sale of or access to virtual items to users. Creators that qualify for its Developer Exchange Program are eligible to be paid fiat currency by Roblox, based on the earned Robux they have accumulated.

Bull case

Roblox says it is working towards capturing 10% of the global gaming content market, and it sees a large opportunity to expand its footprint among older audiences. It also says it is innovating aggressively in AI.

Bear case

Roblox says it has incurred net losses since its inception and expects to continue to incur net losses in the foreseeable future. It competes for users and their engagement hours with global technology leaders such as Amazon, Apple, Meta Platforms, Google, Microsoft and Tencent.