Roblox Corporation · NYSE:RBLX
Roblox — Q4 2025 Earnings Presentation
45 slides from Roblox's earnings presentation, Feb 5, 2026
Slide 1: Q4 2025 Supplemental Materials
Q4 2025 Supplemental Materials February 5, 2026
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation and the live webcast and Q&A session which will be held at 130 p.m. Pacific Time/430 p.m. Eastern Time on Thursday, February 5, 2026 contain “forward-looking statementsˮ within the meaning of the “safe harborˮ provisions of the Private Securities Litiga
Slide 3: Q4 2025 Results Review
Q4 2025 Results Review 43% YoY Growth 63% YoY Growth 69% YoY Growth 88% YoY Growth $1.4B $2.2B 144M 35B REVENUE BOOKINGS1 AVERAGE DAILY HOURS ACTIVE USERS ENGAGED (“DAUsˮ) For endnote descriptions, see final slide. 3
Slide 4: Q4 2025 Results Review
Q4 2025 Results Review 229% YoY Growth 155% YoY Growth $318M $3M $607M $307M CONSOLIDATED ADJUSTED NET CASH AND CASH FREE CASH FLOW1 NET LOSS EBITDAA1 EQUIVALENTS PROVIDED BY OPERATING ACTIVITIES A Adjusted EBITDA excludes adjustments for an increase in deferred revenue of $818 million and a
Slide 5: Operating and Financial Metrics
Operating and Financial Metrics 5
Slide 6: DAUs
DAUs (in millions) Year-over-year growth % 6
Slide 7: DAUs by Region
DAUs by Region(2)(A) (in millions) US & Canada Europe APAC ROW US & Canada 17% 13% 21% 26% 15% 22% 21% 32% 32% Europe 20% 13% 14% 15% 6% 10% 24% 56% 62% YoY APAC 27% 26% 31% 37% 30% 40% 76% 108% 95% ROW 22% 19% 22% 30% 27% 33% 39% 80% 80% Total 22% 17% 21% 27% 19% 26% 41% 70% 69% A We are currentl
Slide 8: Hours Engaged
Hours Engaged (in billions) Year-over-year growth % 8
Slide 9: Hours Engaged by Region
Hours Engaged by Region(2)(A) (in billions) US & Canada Europe APAC ROW US & Canada 16% 12% 23% 28% 17% 27% 35% 47% 41% Europe 21% 11% 16% 17% 9% 16% 43% 82% 76% YoY APAC 27% 23% 39% 45% 33% 44% 95% 127% 128% ROW 21% 15% 22% 29% 26% 36% 56% 109% 100% Total 21% 15% 24% 29% 21% 30% 58% 91% 88% A We
Slide 10: Revenue
Revenue(3) $ in millions, unaudited) Year-over-year growth % For endnote descriptions, see final slide. 10
Slide 11: Revenue by Region
Revenue by Region(3)(4) $ in millions, unaudited) US & Canada Europe APAC ROW US & Canada 27% 20% 29% 27% 30% 27% 18% 40% 34% Europe 29% 23% 32% 31% 35% 33% 25% 58% 54% YoY APAC 39% 31% 38% 29% 31% 28% 22% 60% 59% ROW 39% 33% 42% 38% 42% 40% 31% 73% 69% Total 30% 22% 31% 29% 32% 29% 21% 48% 43% For
Slide 12: Bookings
Bookings(1) $ in millions, unaudited) Year-over-year growth % For endnote descriptions, see final slide. 12
Slide 13: Bookings by Region
Bookings by Region(1)(4) $ in millions, unaudited) US & Canada Europe APAC ROW US & Canada 21% 17% 21% 33% 18% 31% 43% 50% 41% Europe 37% 23% 24% 36% 24% 29% 60% 90% 95% YoY APAC 18% 16% 22% 36% 29% 32% 75% 110% 96% ROW 49% 35% 33% 37% 24% 32% 55% 129% 123% Total 25% 19% 22% 34% 21% 31% 51% 70% 63%
Slide 14: Average Bookings per DAU (ABPDAU)
Average Bookings per DAU (“ABPDAU”)(1) Year-over-year growth % For endnote descriptions, see final slide. 14
Slide 15: ABPDAUs by Region
ABPDAUs by Region(1)(2)(4) Year-over-year growth % US & Canada Europe APAC ROW For endnote descriptions, see final slide. 15
Slide 16: Payer Community
Payer Community Average Monthly Unique Payers (in millions) Average Bookings Per Monthly Unique Payer1 For endnote descriptions, see final slide. 16
Slide 17: Four Main Expenses
Four Main Expenses 17
Slide 18: Cost of Revenue
Cost of Revenue(3) $ in millions, unaudited) Year-over-year growth % For endnote descriptions, see final slide. 18
Slide 19: Developer Exchange Fees
Developer Exchange Fees $ in millions, unaudited) Year-over-year growth % % of Revenue 29.6% 25.3% 23.3% 25.2% 28.4% 27.2% 29.3% 31.5% 33.7% % of Bookings1 19.7% 21.9% 21.8% 20.5% 20.6% 23.3% 22.0% 22.3% 21.5% For endnote descriptions, see final slide. 19
Slide 20: Certain Infrastructure and Trust & Safety Expense
Certain Infrastructure and Trust & Safety Expense(5) $ in millions, unaudited) Year-over-year growth % % of Revenue 16.6% 15.5% 13.6% 14.1% 12.8% 13.0% 14.1% 15.3% 14.8% % of Bookings1 11.0% 13.5% 12.8% 11.5% 9.3% 11.1% 10.6% 10.8% 9.4% For endnote descriptions, see final slide. 20
Slide 21: Personnel Costs excl. Stock-Based Compensation Expense
Personnel Costs excl. Stock-Based Compensation Expense $ in millions, unaudited) Year-over-year growth % Headcount 2500 2500 2400 2400 2500 2600 2800 3000 3100 % of Revenue 26.5% 28.2% 22.9% 22.0% 20.3% 23.0% 22.6% 18.4% 17.7% % of Bookings1 17.6% 24.5% 21.4% 17.9% 14.7% 19.8% 17.0% 13.0
Slide 22: Balance Sheet, Cash Flow, & Shares Outstanding
Balance Sheet, Cash Flow, & Shares Outstanding 22
Slide 23: Balance Sheet Update
Balance Sheet Update $ in millions, unaudited) 7 Total cash, cash equivalents, and $3,237 $3,469 $3,601 $3,882 $4,020 $4,511 $4,738 $5,221 $5,548 investments Net cash and $2,232 $2,464 $2,596 $2,876 $3,013 $3,504 $3,731 $4,214 $4,540 investments6 For endnote descriptions, see final slide. 23
Slide 24: Net Cash and Cash Equivalents Provided by Operating Activities
Net Cash and Cash Equivalents Provided by Operating Activities $ in millions, unaudited) A A A Operating cash flow in 1Q25 benefited from the delay of a $30 million payout to a creator that was subsequently paid and negatively impacted operating cash flow in 2Q25. Had we made this payment in
Slide 25: Free Cash Flow
Free Cash Flow(1) $ in millions, unaudited) A A Acquisition of property $65 $47 $40 $29 $64 $17 $23 $103 $298 and equipment Purchases of intangible — $1 — — — — — $1 $2 assets A Free cash flow in 1Q25 benefited from the delay of a $30 million payout to a creator that w
Slide 26: Shares Outstanding
Shares Outstanding (shares in millions, unaudited) As of 2024 to 12/31/2025 12/31/2024 12/31/2023 2025 YoY% Shares of Class A and B Common stock 708 666 631 6% outstanding Number of stock options outstandingA 9 27 40 67% Number of unvested RSUs outstanding 25 35 40 30% Number of ESPP shares to b
Slide 27: Guidance
Guidance 27
Slide 28: 1Q26 Guidance
1Q26 Guidance(8) Summary $ in millions) 3 months ended Guidance Actual Q1 2026 Q1 2025 YoY % Low High Low High Revenue $1,370 $1,420 $1,035 32% 37% Bookings1 $1,690 $1,740 $1,207 40% 44% Consolidated net loss $329 $311 $216 52% 44% Adjusted EBITDA1 $4 $22 $58 93% 62% Total net increase
Slide 29: Fiscal Year 2026 Guidance
Fiscal Year 2026 Guidance(8) Summary $ in millions) 12 months ended Guidance Actual Full Year 2026 Full Year 2025 YoY % Low High Low High Revenue $6,019 $6,290 $4,891 23% 29% Bookings1 $8,282 $8,553 $6,788 22% 26% Consolidated net loss $1,303 $1,135 $1,072 22% 6% Adjusted EBITDA1 $30 $198
Slide 30: 1Q26 Guidance: Non-GAAP Financial Measures Reconciliation
1Q26 Guidance: Non-GAAP Financial Measures Reconciliation Revenue8 to Bookings1 $ in millions) 3 months ended Guidance Actual Q1 2026 Q1 2025 YoY % Low High Low High Revenue $1,370 $1,420 $1,035 32% 37% Add (deduct): Change in deferred revenue 328 328 178 84% 84% Other 8 8 6 25% 25% Booki
Slide 31: Fiscal Year 2026 Guidance: Non-GAAP Financial Measures Reconciliation
Fiscal Year 2026 Guidance: Non-GAAP Financial Measures Reconciliation Revenue8 to Bookings1 $ in millions) 12 months ended Guidance Actual Full Year 2026 Full Year 2025 YoY % Low High Low High Revenue $6,019 $6,290 $4,891 23% 29% Add (deduct): Change in deferred revenue 2,295 2,295 1,934 19% 19
Slide 32: 1Q26 Guidance: Non-GAAP Financial Measures Reconciliation
1Q26 Guidance: Non-GAAP Financial Measures Reconciliation Consolidated Net Loss8 to Adjusted EBITDA18 $ in millions) 3 months ended Guidance Actual Q1 2026 Q1 2025 YoY % Low High Low High Consolidated Net Loss $329 $311 $216 52% 44% Add (deduct): Interest income 50 50 46 8% 8% Int
Slide 33: Fiscal Year 2026 Guidance: Non-GAAP Financial Measures Reconciliation
Fiscal Year 2026 Guidance: Non-GAAP Financial Measures Reconciliation Consolidated Net Loss8 to Adjusted EBITDA18 $ in millions) 12 months ended Guidance Actual Full Year 2026 Full Year 2025 YoY % Low High Low High Consolidated Net Loss $1,303 $1,135 $1,072 22% 6% Add (deduct): Interest
Slide 34: 1Q26 Guidance: Non-GAAP Financial Measures Reconciliation
1Q26 Guidance: Non-GAAP Financial Measures Reconciliation Net Cash and Cash Equivalents Provided by Operating Activities to Free Cash Flow1 $ in millions) 3 months ended Guidance Actual Q1 2026 Q1 2025 YoY % Low High Low High Net cash and cash equivalents provided by operating activities $590 $61
Slide 35: Fiscal Year 2026 Guidance: Non-GAAP Financial Measures Reconciliation
Fiscal Year 2026 Guidance: Non-GAAP Financial Measures Reconciliation Net Cash and Cash Equivalents Provided by Operating Activities to Free Cash Flow1 $ in millions) 12 months ended Guidance Actual Full Year 2026 Full Year 2025 YoY % Low High Low High Net cash and cash equivalents provided by op
Slide 36: Appendices
Appendices RQBLOX
Slide 37: Revenue, Deferred Revenue, and Bookings Illustration
Revenue, Deferred Revenue, and Bookings Illustration The following example illustrates GAAP revenue recognition for bookings on the Roblox platform. ● Paying user spends $30 on the Roblox platform to purchase 3,000 Robux or Recognized in Month 1 purchases a $30 prepaid card to exchange for 3,000 Rob
Slide 38: Non-GAAP Financial Measures Reconciliation
Non-GAAP Financial Measures Reconciliation Revenue to Bookings1 $ in millions, unaudited) 3 months ended 2024 to 12/31/2025 12/31/2024 12/31/2023 2025 YoY% Revenue $ 1,415 $ 988 $ 750 43% Add (deduct): Change in deferred revenue 818 382 382 114% Other 11 8 5 31% Bookings $ 2,222 $ 1,362 $ 1
Slide 39: Non-GAAP Financial Measures Reconciliation
Non-GAAP Financial Measures Reconciliation Consolidated Net Loss to Adjusted EBITDA1 $ in millions, unaudited) 3 months ended 2024 to 12/31/2025 12/31/2024 12/31/2023 2025 YoY% Consolidated Net Loss $ 318 $ 221 $ 325 44% Add (deduct): Interest income 54 46 40 17% Interest expense 10 1
Slide 40: Non-GAAP Financial Measures Reconciliation
Non-GAAP Financial Measures Reconciliation Net Cash and Cash Equivalents Provided by Operating Activities to Free Cash Flow1 $ in millions, unaudited) 3 months ended 2024 to 12/31/2025 12/31/2024 12/31/2023 2025 YoY% Net cash and cash equivalents provided by operating activities $ 607 $ 184 $ 143
Slide 41: Non-GAAP Financial Measures Definitions
Non-GAAP Financial Measures Definitions This presentation contains the following non-GAAP financial measures: bookings, Adjusted EBITDA, and free cash flow. We use this non-GAAP financial information to evaluate our ongoing operations and for internal planning and forecasting purposes. We believe th
Slide 42: Note Regarding Operating Metrics
Note Regarding Operating Metrics We manage our business by tracking several operating metrics, including average daily active users (“DAUs”), hours engaged, bookings, average bookings per DAU (“ABPDAU”), average monthly unique payers, and average bookings per monthly unique payer. As a management te
Slide 43: Note Regarding Operating Metrics (continued)
Note Regarding Operating Metrics (continued) DAUs We define a DAU as a user who has logged in and visited Roblox through our website or application on a unique registered account on a given calendar day. If a registered, logged in user visits Roblox more than once within a 24-hour period that spans
Slide 44: Note Regarding Operating Metrics (continued)
Note Regarding Operating Metrics (continued) ABPDAU We define ABPDAU as bookings in a given period divided by the DAUs for such period. We primarily use ABPDAU as a way to understand how we are monetizing across all of our users. ABPDAU is also broken out by geographic region to help us understand t
Slide 45: Endnotes
Endnotes Note: Amounts reported in millions are rounded based on the amounts in thousands. As a result, 3 Beginning 2Q24, the estimated average lifetime of a payer changed from 28 months to the sum of the components reported in millions may not equal the total amount reported in millions 27 months