Roblox Corporation
RBLXFinancial Snapshot
ticker: RBLX step: 04 generated: 2026-05-13 source: quick-research
Roblox Corporation (RBLX) — Financial Snapshot
Note: GAAP revenue is deferred; bookings (recognized immediately at purchase) are the primary operating KPI.
Income Statement Summary
| Metric | FY2022 | FY2023 | FY2024 | YoY |
|---|---|---|---|---|
| Revenue (GAAP) | $2.23B | $2.80B | $3.60B | +29% |
| Bookings | $2.9B | ~$3.5B | $4.37B | +24% |
| Gross Margin | ~72% | ~74% | ~78% | improving |
| GAAP Operating Margin | ~-35% | ~-30% | ~-22% | improving |
| GAAP Net Income | ~-$0.9B | ~-$1.2B | ~-$0.8B | losses narrowing |
FY2025: Revenue $4.891B (+36% YoY). Q3 2025: DAUs 151.5M; users 13+ exceeded 101M (+153% vs Q3 2023). Q1 2026: Stock dropped 20%+ as company cut full-year bookings guidance — new age-verification policies created user friction. Creator payouts raised 8.5% (+$95M/year) in FY2025, weighing on margins. Advertising heading toward $1B target by 2026.
Cash Flow & Balance Sheet (FY2024)
| Metric | Value |
|---|---|
| Operating Cash Flow | $822M (+79% YoY) |
| Free Cash Flow | $641M (+367% YoY) |
| Capital Expenditures | ~$180M |
| Cash & Equivalents | ~$2.5B |
| Total Debt | ~$1.0B (term loan) |
The FY2024 FCF inflection (+367% to $641M) is the most significant financial milestone since IPO — Roblox is transitioning from cash-burning growth to self-funding platform. GAAP losses persist from SBC (~30% of revenue) and infrastructure costs. Analyst projections: FCF grows from $640M (2024) to $3.28B (2029) as monetization (advertising, international) scales.
Key Ratios (approximate)
- P/E: N/A (GAAP losses) | EV/Sales: ~7–9x | FCF Yield: ~1.5–2%
- Bookings Growth (TTM): ~24% | Non-GAAP FCF Margin: ~18%
Growth Profile
Roblox's revenue grew from $2.23B (FY2022) to $4.89B (FY2025) — 119% in 3 years — but growth is lumpy due to Robux deferral accounting. The key growth levers: (1) DAU expansion (151M+, growing rapidly); (2) ARPDAU improvement via advertising monetization ($210M in sponsored events Q1 2025 alone); (3) older-user growth (13+ tripled); (4) international ARPU catch-up to North American rates. Q1 2026 guidance cut from age-verification friction is the near-term headwind; analysts expect $12.7B revenue by 2029 if advertising scales.
Forward Estimates
- FY2026: Revenue ~$5.5–6B+ (guidance cut after Q1 2026 concerns); bookings ~$5B
- Advertising revenue: targeting $1B by 2026 — Google AdMob integration is key enabler
- FCF: tracking toward $1B+ in FY2026; $3.28B by FY2029 (analyst projection)
- Analyst consensus PT: ~$116 (25 Buy ratings); implied significant upside from current levels
- Long-term: Revenue forecast to reach $12.7B by 2029 as international monetization and advertising scale
Deeper Financial Analysis
The fundamental tier adds 9 additional research dimensions for $RBLX.