Roblox (RBLX) Q4 2025 earnings summary

Executive summary

• Achieved 36% year-over-year revenue growth and 55% bookings growth for full year 2025, significantly exceeding prior guidance.

• Q4 2025 revenue reached $1.415 billion (up 43% year-over-year) and bookings hit $2.222 billion (up 63% year-over-year).

• Average daily active users (DAUs) reached 144 million in Q4, a 69% year-over-year increase, with engagement hours up 88% to 35 billion.

• Net loss widened to $318 million, while adjusted EBITDA was $3 million and free cash flow reached $307 million, up 155% year-over-year.

• Nearly 37 million unique payers in Q4, almost double from a year ago.

Financial highlights

• U.S. and Canada bookings grew 41% year-over-year; APAC bookings surged 96%, with Japan up 160%, India 110%, and Indonesia over 700%.

• Developer exchange (DevEx) payouts in Q4 were $477 million, 33.7% of revenue, up 70% year-over-year.

• Top 1,000 creators averaged $1.3 million in earnings, up 50% year-over-year.

• Net cash and cash equivalents from operating activities were $607 million, up 229% year-over-year.

• Free cash flow for the quarter was $307 million, a 155% increase year-over-year.

Outlook and guidance

• Full year 2026 revenue guidance: $6.02B–$6.29B (23–29% YoY growth); bookings: $8.28B–$8.55B (22–26% YoY growth).

• Q1 2026 revenue guidance: $1.37B–$1.42B (32–37% YoY growth); bookings: $1.69B–$1.74B (40–44% YoY growth).

• Expected consolidated net loss for 2026: $1.14B–$1.30B; adjusted EBITDA: $30M–$198M.

• Free cash flow for 2026 projected at $1.60B–$1.82B.

• Shift to quarterly guidance for 2027 and beyond, reflecting uncertainty in predicting viral content.