Roblox (RBLX) Q1 2025 earnings summary

Executive summary

• Q1 2025 revenue reached $1.04 billion, up 29% year-over-year, with bookings at $1.21 billion, up 31%, both exceeding guidance.

• Average daily active users (DAUs) hit 97.8 million, up as much as 30% year-over-year, with strong growth across all regions and age groups.

• Free cash flow surged 123% year-over-year to $427 million, benefiting from a delayed $30 million developer payout.

• Net loss for the quarter was $(216) million, an improvement from $(270.6) million in Q1 2024; adjusted EBITDA was $58 million, up from a loss of $6.9 million.

• Creator earnings (DevEx) rose to $281.6 million, with over 100 developers earning more than $1 million in the past 12 months.

Financial highlights

• Revenue: $1.04 billion (+29% YoY); Bookings: $1.21 billion (+31% YoY); both exceeded guidance.

• Free cash flow: $426.5 million, up 123% YoY; cash from operations: $444 million, up 86% YoY.

• Net loss: $215.1 million; adjusted EBITDA: $58 million.

• Average bookings per DAU (ABPDAU): $12.34, up 4% YoY.

• Cash, cash equivalents, and investments totaled $4.5 billion; net liquidity $3.5 billion.

Outlook and guidance

• Q2 2025 revenue guidance: $1,020–$1,045 million; bookings: $1,165–$1,190 million.

• FY 2025 revenue guidance: $4,290–$4,365 million; bookings: $5,285–$5,360 million; free cash flow: $885–$930 million.

• FY 2025 net loss expected between $(1,037)–$(977) million; adjusted EBITDA $205–$265 million.

• Guidance for margin improvement remains at 314 basis points for the full year.

• Management expects continued investment in infrastructure, safety, and platform innovation.