Roblox Corp

Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

Item 7.01 Regulation FD Disclosure.

The Company also reported second quarter and updated full year 2026 guidance in its shareholder letter, which was issued on April 30, 2026 , a copy of which is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein.

​Novel Game Expansion​ ​We are aggressively moving to capture the untapped opportunity to expand our O18 user base, the​ ​largest segment of the traditional gaming market. As of Q1, O18 users represent 26% of DAUs who​ ​have age-checked.​​1​ ​In the U.S., DAUs and Hours for the O18 user cohort both grew 40%​ ​year-over-year and within that, our 18-34 cohort grew over 50%, faster than any other cohort.​​2​ ​Additionally, in the U.S., O18 users on Roblox monetize over 50% higher than our under 18 (U18)​ ​users.​​2​ ​In pursuit of this opportunity, we are investing to reward the creation of “novel” games and​ ​to ensure these games can successfully build an audience on Roblox. Novel games expand into​ ​new genres, use different game play mechanics, and have a different look and feel than classic​ ​Roblox games.​ ​Targeted Increase in DevEx Rate.​​Today, we are announcing an increase in our Developer​ ​Exchange (DevEx) rate designed to further reward creation of novel games. Starting June​ ​8th, we will be increasing the creators’ effective earnings for in-game spend generated by​ ​age-checked O18 users in the U.S. to 37.8% from 26.6%.​​3​ ​To qualify for the higher rate,​ ​games must utilize our R15 avatar framework. R15 avatars upgrade Roblox characters with​ ​up to 132-joint skeletons, unlocking lifelike avatar animation, expressive character systems,​ ​and support for modern features like layered clothing and facial animation.​ ​Creator Programs.​​We have announced several other​​programs​​to support creators with novel​ ​game creation, including expansion into new genres, gameplay mechanics, and visual styles.​ ​●​ ​Roblox Jumpstart​​is a continuous program designed to help​​new-to-Roblox creators​​learn​ ​the platform and experienced creators explore the process of novel game creation.​ ​●​ ​Roblox Incubator​​is a six-month, milestone-driven program designed to help​​experienced​ ​teams​​turn novel game concepts into polished, scalable,​​and commercially successful​ ​games.​ ​In these programs, Roblox provides hands-on mentorship and on and off-platform user acquisition​ ​support. The initial response to these initiatives has been strong with over 8,000 applications in​ ​two months since launch, including some impressive prototypes. You can see a couple of​ ​examples of these prototypes here:​​Starforged Realms​​and​​Octane​​. We are also investing in and​ ​supporting novel games that are already on Roblox or are currently in development through our​ ​3​ ​Illustrative, assuming 30% Robux platform fee for in-game item sales and our average selling price for​ ​Robux in FY 2025 of $0.01 per Robux.​ ​2​​See “Special Note Regarding Age-Check” for additional details.​ ​1​ ​As of the seven days ended March 31, 2026, 36% of​​users who have age-checked are under 13, 38% are​ ​between the ages of 13 and 17, and 26% are O18.​ ​3​

​White Glove Service. We have teams dedicated to scouting for promising early-stage games and​ ​partnering with creators to increase engagement, improve retention, and optimize monetization​ ​design.​ ​Studio Partnerships.​​This quarter we began working with several well-known game studios to​ ​bring reimagined versions of beloved PC/mobile games to Roblox. Similar to the work we’re doing​ ​with Jumpstart and Incubator, we are partnering with these studios to support game design,​ ​development, and co-investing with them to seed the user acquisition flywheel. We will share more​ ​detail about the specific games in development over the next few quarters as we get closer to​ ​launch. We are excited about these studio partnerships because they represent incredibly familiar​ ​IP, loyal fanbases, and deep gameplay tailored for older users. In fact, the franchises in active​ ​development on Roblox have a total audience of over 150 million monthly players on other​ ​platforms. We are in active discussions with many more studios and publishers to bring even more​ ​large franchises to the Roblox platform.​ ​Novel Game Marketing.​​Novel games will also receive​​enhanced on-platform placement and​ ​off-platform marketing support. On platform, we are highlighting “​​Standout Games​​,” a curated​ ​selection of novel games handpicked by our team and given priority placement on the second row​ ​of the Roblox home screen, utilizing video previews to maximize visibility. In the future, we plan to​ ​offer fully personalized home screens that could provide an entirely different look and feel​ ​depending on user age. Off platform, we’re actively scanning for early signals of novel games that​ ​can benefit from promotion outside the Roblox ecosystem. As we identify these games, we can​ ​quickly and aggressively invest to build an O18 audience in a manner that offers compelling return​ ​on advertising spend (RoAS).​ ​Technology Advancements.​​In Q1, we delivered foundational upgrades to our engine, enabling​ ​higher realism and more advanced avatars, while retaining core scalability to run on any and all​ ​platforms. Creators can now author and upload textures in 4K for vibrant visuals. Avatars have​ ​been upgraded with advanced skeletal joints, a new animation system supporting smooth motion,​ ​and full creator control through our Luau scripting language. Using this, creators can now produce​ ​lifelike, physically simulated avatars. We've enhanced user identity by completing the rollout of​ ​Dynamic Heads and introducing Makeup, providing more options for avatar customization and​ ​expression. These upgrades have been accompanied by significant advances in the ease of avatar​ ​creation: 1-click import and continued investment in Avatar AI AutoSetup drastically reduce the​ ​friction of bringing external assets onto the platform. Beyond avatars, we've introduced Server​ ​Authority to enable fair competitive gameplay. All creators benefit from our continued rollout of​ ​world-class scaling technologies, including Instance Streaming, Mesh/Texture Streaming, and​ ​SLIM, which allow the same realistic world to run on both high-end PCs and low-end mobile​ ​4​

​Content Recommendations.​​Our recommendation engine​​is a critical mechanism for matching​ ​users with the games they love, designed to prioritize games that support creation and​ ​collaborative play rather than the passive consumption typically seen on social media platforms.​ ​Over the past several years, improvements to the system have helped diversify content​ ​recommendations, improve user retention, and identify emerging content more efficiently. We are​ ​currently experimenting with new algorithmic approaches and homepage layouts which directly​ ​optimize for 28-day retention and beyond. We believe this approach is a better predictor of​ ​long-term retention and lifetime value, especially when the algorithm is tailored to specific user​ ​cohorts. During Q2, we will be running these experiments at scale and expect them to weigh on​ ​engagement and bookings while we optimize. However, early data validates the opportunity to​ ​significantly improve recommendations with certain test cohorts already yielding a noticeable​ ​improvement in long term retention proxy metrics.​ ​Communications Engagement.​​Engagement with Roblox communication features is fundamental​ ​to user engagement, retention, and content virality. Following our implementation of mandatory​ ​age checks to access text or voice chat in January, we see new opportunities to enhance​ ​communication and boost engagement utilizing higher confidence user age data. Global Chat will​ ​allow players across multiple servers in the same game to communicate in a single shared “room,”​ ​significantly increasing in-game chat density. Preset messages will enable all users to easily​ ​coordinate during gameplay. And, by integrating Party Chat directly into the in-game chat window,​ ​we are removing the need for users to leave an experience to coordinate with friends, driving​ ​higher party usage and retention during co-play sessions. Collectively, these improvements, paired​ ​with our incentives to age-check, are engineered to reignite on-platform communication and​ ​deepen user connection.​ ​Roblox Plus.​​Today, we are launching Roblox Plus, a revamped subscription offering designed to​ ​deepen retention and value for our most highly engaged users. For $4.99 a month, Plus provides​ ​users discounts on in-game and avatar items, free unlimited private servers, and exclusive​ ​privileges to transfer Robux and trade items. The discount structure increases after the second​ ​month, which we believe will incentivize long-term subscriber retention compared to our Premium​ ​subscription offering, which was primarily an allowance product that gave parents a frictionless​ ​way to enable recurring Robux allowances for their kids. Roblox funds the Plus discount, such that​ ​creators receive a higher effective earnings share on transactions from Plus subscribers. We​ ​believe this aligns creator economics with our goal of increasing subscriber penetration. While our​ ​initial Plus offering does not include a monthly Robux allowance, we plan to introduce Plus with​ ​8​

​allowance bundles in the coming weeks, and will be adding more features to Plus subscriptions in​ ​the coming months to make it a must-have add-on for all Roblox users.​ ​Advertising.​​We are excited by the long-term growth​​potential of advertising. Our offerings for​ ​native advertisers continue to expand. We recently launched 2x1 sponsored tiles delivering even​ ​more reach for brands and creators. As of the end of Q1, more than 60 of our top 100 creators​ ​based on spend are using our native Ads Manager. Rewarded Video has the right product-market​ ​fit and drives strong results for our advertisers. In the coming months we are releasing a new​ ​plugin template to make it easier for creators to incorporate rewarded video in their games and the​ ​ability for creators to optimize for either ROI or number of plays.​ ​Starting next month, our updated advertising policies and standards go into effect, creating a safer​ ​and more consistent platform for advertisers. Creators running independent brand integrations​ ​must register campaigns in our Ads Manager and migrate to native formats like Rewarded Video​ ​and immersive billboards. By standardizing ad labels and striving for age-appropriate and​ ​COPPA-compliant content, we are simplifying brand-creator partnerships and building a more​ ​scalable, durable advertising business.​ ​9​ ​Key Metrics and Financials: Q1 2026​ ​Users & Engagement.​​DAUs grew 35% year-over-year to​​132 million and Hours grew 43%​ ​year-over-year to 31 billion. We saw a broadening of Roblox’s geographic footprint. DAUs outside​ ​of the U.S. and Canada grew 40% year-over-year, while DAUs in the U.S. and Canada grew 17%.​ ​Strong user growth and a growing library of games drove another quarter of strong engagement​ ​growth. Similar to user growth trends, Hours outside of the U.S. and Canada grew 50%, while​ ​Hours in the U.S. and Canada grew 21%. DAUs and Hours growth reflected expected deceleration​ ​from the outsized gains we experienced in 2025 and was also tempered by greater-than-expected​ ​headwinds from our age-check roll out which restricted on-platform communication and slowed​ ​new user acquisition as we progressed throughout the quarter. Additionally, the December 2025​ ​platform ban in Russia resulted in a sequential decline in DAUs and Hours.​ ​Content Diversity.​​The diversity of content on the​​platform in Q1 resulted in broadening​ ​engagement. The long tail of content showed strength: experiences outside the top 10 saw 43%​ ​growth in engagement year-over-year and 41% growth in Robux spending year-over-year,​ ​accounting for 65% of growth in Robux spend in the quarter.​ ​Monetization.​​Growth in DAUs and Hours drove solid​​revenue and bookings performance. Topline​ ​growth outpaced DAU growth reflecting a favorable shift in our user mix toward higher-monetizing​ ​demographics. Average monthly unique payers (MUPs) increased to 31 million, up 52% compared​ ​to a year ago. We saw strong payer growth in international markets and continued solid growth in​ ​the U.S. and Canada, up 19% year-over-year, on a larger payer base. Revenue grew 39%​ ​year-over-year to $1.4 billion and bookings grew 43% year-over-year to $1.7 billion​​4​​.​ ​4​ ​On a constant currency basis, revenue and bookings were up 38% year-over-year. Constant currency is calculated by​ ​converting our current period bookings and associated revenue generated from current period bookings into U.S. dollars​ ​using the comparative prior period’s monthly exchange rates for our non-USD currencies, rather than the actual average​ ​exchange rates in effect during the current period. By adjusting revenue and bookings for constant currency, we are able to​ ​provide a framework for assessing how our business performed excluding the effect of foreign currency rate fluctuations.​ ​10​

​Despite these near term adjustments, our conviction in the long-term growth opportunity for​ ​Roblox remains unchanged. We are focused on delivering 20%+ annualized topline growth and​ ​margin expansion, inclusive of DevEx increases. As we’ve noted before, the trajectory of this​ ​growth will be non-linear due to the inherent unpredictability of creator innovation and the timing​ ​of investment necessary to scale. We remain bullish that the foundations we are laying today will​ ​deliver long-term growth and shareholder value creation.​ ​Guidance​ ​Updated Guidance​ ​Q2 2026​ ​Full Year 2026​ ​($ in millions)​ ​Low​ ​High​ ​Low​ ​High​ ​Revenue​​(A)​ ​$1,390​ ​$1,450​ ​$5,865​ ​$6,135​ ​YoY %​ ​29%​ ​34%​ ​20%​ ​25%​ ​Bookings​​(A)​ ​$1,550​ ​$1,610​ ​$7,330​ ​$7,600​ ​YoY %​ ​8%​ ​12%​ ​8%​ ​12%​ ​Consolidated net loss​​(B)​ ​$(257)​ ​$(242)​ ​$(1,175)​ ​$(1,035)​ ​Adjusted EBITDA​ ​$68​ ​$83​ ​$185​ ​$325​ ​Total net increase in deferred revenue and​ ​deferred cost of revenue​ ​$162​ ​$162​ ​$1,305​ ​$1,305​ ​Net cash and cash equivalents provided by​ ​operating activities​ ​$260​ ​$275​ ​$1,570​ ​$1,745​ ​Capital expenditures and purchases of​ ​intangible assets​ ​$(30)​ ​$(30)​ ​$(520)​ ​$(470)​ ​Free cash flow​​(A)​ ​$230​ ​$245​ ​$1,050​ ​$1,275​ ​YoY %​ ​30%​ ​38%​ ​(22)%​ ​(6)%​ ​(A)​ ​The reconciliations from revenue to bookings, consolidated net loss to Adjusted EBITDA, and operating cash flow​ ​to free cash flow are provided in the following section GAAP to Non-GAAP Reconciliations. Our revenue guidance​ ​assumes that there are no material changes in estimates used in revenue recognition, such as the estimated​ ​consumable/durable allocation of virtual goods purchased on the platform and the estimated average lifetime of a​ ​paying user.​ ​(B)​ ​Consolidated net loss guidance excludes loss contingency accruals, given the inherent uncertainty in estimates of​ ​future probability and/or range of loss based on the facts and circumstances that exist as of April 30, 2026.​ ​13​

​Roblox Corporation​​Unaudited Financial Statements​ ​ROBLOX CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS​ ​Unaudited (in millions)​ ​As of​ ​March 31, 2026​ ​December 31, 2025​ ​Assets​ ​Current assets:​ ​Cash and cash equivalents​ ​$ 1,188​ ​$ 1,205​ ​Short-term investments​ ​2,011​ ​1,850​ ​Accounts receivable—net of allowances​ ​538​ ​901​ ​Prepaid expenses and other current assets​ ​138​ ​109​ ​Deferred cost of revenue, current portion​ ​867​ ​833​ ​Total current assets​ ​4,742​ ​4,898​ ​Long-term investments​ ​2,966​ ​2,493​ ​Property and equipment—net​ ​849​ ​885​ ​Operating lease right-of-use assets​ ​639​ ​651​ ​Deferred cost of revenue, long-term​ ​446​ ​448​ ​Intangible assets, net​ ​17​ ​18​ ​Goodwill​ ​142​ ​143​ ​Other assets​ ​26​ ​21​ ​Total assets​ ​$ 9,827​ ​$ 9,557​ ​Liabilities and Stockholders’ equity​ ​Current liabilities:​ ​Accounts payable​ ​$ 24​ ​$ 65​ ​Accrued expenses and other current liabilities​ ​435​ ​396​ ​Developer exchange liability​ ​424​ ​496​ ​Deferred revenue—current portion​ ​4,425​ ​4,169​ ​Total current liabilities​ ​5,308​ ​5,126​ ​Deferred revenue—net of current portion​ ​2,380​ ​2,337​ ​Operating lease liabilities​ ​625​ ​643​ ​Long-term debt, net​ ​1,008​ ​993​ ​Other long-term liabilities​ ​95​ ​83​ ​Total liabilities​ ​9,416​ ​9,182​ ​Stockholders' equity:​ ​Common stock​ ​—*​ ​—*​ ​Additional paid-in capital​ ​5,744​ ​5,438​ ​Accumulated other comprehensive income/(loss)​ ​(5)​ ​17​ ​Accumulated deficit​ ​(5,307)​ ​(5,061)​ ​Total Roblox Corporation stockholders' equity​ ​432​ ​394​ ​Noncontrolling interest​ ​(21)​ ​(19)​ ​Total stockholders' equity​ ​411​ ​375​ ​Total liabilities and stockholders' equity​ ​$ 9,827​ ​$ 9,557​ ​* Amounts round to zero.​ ​14​