# Roblox Corporation (RBLX)

> Source: Nexqual · https://nexqual.com/RBLX · data as of 2026-10-23 15:50 UTC · cite as "Nexqual, Roblox Corporation (RBLX), nexqual.com/RBLX" · informational, not investment advice.

**Price:** USD 53.21 (-1.39% today) · US market open, as of October 23, 2026 at 15:50 UTC; quotes may be delayed. Prev close 53.96 · day 52.43–54.11 · 52w 33.88–134.67 · market cap $38.0B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $5.69B, net income -$1.00B (-17.6% margin), free cash flow $1.64B (SEC filings).
- 1 of 80 tracked superinvestors hold RBLX (13F, Q2 2026): 0 new, 0 added, 1 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 30 Form 4 filings, $17.5M; 14 not under a Rule 10b5-1 plan ($10.3M); 0 by opportunistic insiders, 20 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 2.49 on a 1–5 scale) (35 analysts), mean target USD 49.89 (range 33–65).
- Total return with dividends: 1Y -58.8% vs S&P 500 +14.7%; 5Y -36.7% vs S&P 500 +77.4%.
- Next earnings: 2026-10-29, EPS estimate USD -0.42, revenue estimate $1.62B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $1.92B | $2.23B | $2.80B | $3.60B | $4.89B | $5.69B |
| Gross profit | $1.42B | $1.68B | $2.15B | $2.80B | $3.82B | — |
| Operating income | -$495M | -$924M | -$1.26B | -$1.06B | -$1.23B | -$1.18B |
| Net income | -$492M | -$924M | -$1.15B | -$935M | -$1.07B | -$1.00B |
| EPS (diluted) | -$0.97 | -$1.55 | -$1.87 | -$1.44 | -$1.54 | — |
| Free cash flow | $566M | -$56.9M | $138M | $643M | $1.36B | $1.64B |
| Gross margin | 74.1% | 75.4% | 76.8% | 77.8% | 78.1% | — |
| Operating margin | -25.8% | -41.5% | -45.0% | -29.5% | -25.2% | -20.7% |
| Net margin | -25.6% | -41.5% | -41.2% | -26.0% | -21.8% | -17.6% |
| Revenue growth | +107.7% | +15.9% | +25.8% | +28.7% | +35.8% | — |
| Cash + short-term investments | $3.00B | $2.98B | $2.19B | $2.41B | $3.06B | — |
| Total debt | $1.33B | $1.29B | $1.25B | $1.21B | $1.17B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 6.7x · EV/Sales 6.3x · P/FCF 23.1x · P/B 250.1x · FCF yield 4.33% · Earnings yield -2.63% · Net cash $2.00B · EV $36.0B

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold RBLX. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| ValueAct Capital |  | 3.04% | $171M | Reduced -46.2% |

## Insider sales (SEC Form 4, open-market, last ~7 months)
16 of 30 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-10-05 | Reinstra Mark | Chief Legal Off. & Corp. Sec. | 5,666 | $250K | 1.1% | Yes (adopted February 19, 2026) | Routine (sold in Feb & May & Aug & Nov each year 2023–2025; this trade is outside those months) |
| 2026-10-01 | Baszucki Gregory | Director | 16,666 | $714K | 1.3% | Yes (adopted November 28, 2025) | Routine (sold in Mar & Apr & May each year 2023–2025; this trade is outside those months) |
| 2026-09-08 | Reinstra Mark | Chief Legal Off. & Corp. Sec. | 5,773 | $259K | 1.1% | Yes (adopted February 19, 2026) | Routine (sold in Feb & May & Aug & Nov each year 2023–2025; this trade is outside those months) |
| 2026-09-01 | Baszucki Gregory | Director | 16,666 | $674K | 1.3% | Yes (adopted November 28, 2025) | Routine (sold in Mar & Apr & May each year 2023–2025; this trade is outside those months) |
| 2026-08-31 | Wong Andrea L | Director | 562 | $23K | 1.1% | No | Too little history (no open-market trades in 2023) |
| 2026-08-25 | Rawlings Amy Marie | Chief Accounting Officer | 237 | $9K | 0.3% | Yes (adopted February 18, 2026) | Routine (sold in Feb & May & Aug & Nov each year 2023–2025) |
| 2026-08-24 | Buckley Sean Jack | Chief People & Systems Officer | 4,321 | $167K | 4.7% | Yes (adopted November 3, 2025) | Too little history (no open-market trades in 2023–2025) |
| 2026-08-20 | Kaufman Matthew D | Chief Safety Officer | 14,904 | $566K | 4.3% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-08-20 | Buckley Sean Jack | Chief People & Systems Officer | 5,607 | $213K | 5.8% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-08-20 | Rawlings Amy Marie | Chief Accounting Officer | 5,061 | $192K | 5.8% | No | Routine (sold in Feb & May & Aug & Nov each year 2023–2025) |
| 2026-08-20 | Chopra Naveen K. | Chief Financial Officer | 17,509 | $665K | 4.6% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-08-20 | Reinstra Mark | Chief Legal Off. & Corp. Sec. | 17,934 | $681K | 3.2% | No | Routine (sold in Feb & May & Aug & Nov each year 2023–2025) |
| 2026-08-20 | Baszucki David | President & CEO | 52,568 | $2.0M | 1.2% | No | Routine (sold in Mar & May & Aug & Nov & Dec each year 2023–2025) |
| 2026-08-19 | Reinstra Mark | Chief Legal Off. & Corp. Sec. | 6,250 | $250K | 1.1% | Yes (adopted February 19, 2026) | Routine (sold in Feb & May & Aug & Nov each year 2023–2025) |
| 2026-08-04 | Baszucki Gregory | Director | 16,666 | $624K | 1.3% | Yes (adopted November 28, 2025) | Routine (sold in Mar & Apr & May each year 2023–2025; this trade is outside those months) |
| 2026-07-06 | Reinstra Mark | Chief Legal Off. & Corp. Sec. | 4,512 | $259K | 0.8% | Yes (adopted February 19, 2026) | Routine (sold in Feb & May & Aug & Nov each year 2023–2025; this trade is outside those months) |
| 2026-07-01 | Baszucki Gregory | Director | 16,666 | $961K | 1.3% | Yes (adopted November 28, 2025) | Routine (sold in Mar & Apr & May each year 2023–2025; this trade is outside those months) |
| 2026-06-08 | Reinstra Mark | Chief Legal Off. & Corp. Sec. | 5,978 | $249K | 1% | Yes (adopted February 19, 2026) | Routine (sold in Feb & May & Aug & Nov each year 2023–2025; this trade is outside those months) |
| 2026-06-01 | Baszucki Gregory | Director | 16,666 | $777K | 0.2% | Yes (adopted November 28, 2025) | Routine (sold in Mar & Apr & May each year 2023–2025; this trade is outside those months) |
| 2026-05-26 | Rawlings Amy Marie | Chief Accounting Officer | 274 | $13K | 0.6% | Yes | Routine (sold in Feb & May & Aug & Nov each year 2023–2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 2.49 on a 1–5 scale), 35 analysts; mean target USD 49.89 (low 33, high 65).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-23 | Wedbush | Target raised | Neutral | $48 → $55 |
| 2026-10-14 | JP Morgan | Target raised | Neutral | $40 → $53 |
| 2026-10-14 | UBS | Target raised | Neutral | $45 → $53 |
| 2026-10-14 | DA Davidson | Target raised | Neutral | $40 → $50 |
| 2026-09-28 | Jefferies | Downgrade | Hold → Underperform | $38 |
| 2026-09-23 | Needham | Target raised | Buy | $50 → $55 |
| 2026-09-15 | Macquarie | Maintained | Neutral | $37 |
| 2026-09-15 | Roth Capital | Target raised | Buy | $55 → $60 |
| 2026-09-15 | BTIG | Target raised | Sell | $30 → $41 |
| 2026-09-14 | Wells Fargo | Target raised | Overweight | $46 → $64 |
| 2026-09-14 | Wedbush | Target raised | Neutral | $40 → $48 |
| 2026-09-14 | B of A Securities | Target raised | Neutral | $44 → $48 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | -58.8% | -36.7% |
| S&P 500 (SPY) | +14.7% | +77.4% |
| Per year | -58.9% | -8.7% |
| Volatility (annualized) | 72.3% | 65.4% |
| Max drawdown | -73.4% (Oct 2025→Aug 2026) | -81.2% (Nov 2021→Sep 2023) |

## Peers (Electronic Gaming & Multimedia)
TTWO (Take-Two Interactive Software, ) USD 205.89 -0.93% · NTES (NetEase, Inc.) USD 118.58 -0.08% · PLTK (Playtika Holding Corp.) USD 2.05 -0.49% · DDI (DoubleDown Interactive Co., Ltd) USD 13.25 -0.71% · GRVY (GRAVITY Co., Ltd.) USD 66.56 +0.55% · SOHU (Sohu.com Limited) USD 12.67 -0.47%

## More
Full page: https://nexqual.com/RBLX · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in RBLX's own 10-K filed 2026-02-11 (https://www.sec.gov/Archives/edgar/data/1315098/000131509826000024/rblx-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | Amazon (AMZN) | "We utilize these distribution channels, such as Amazon, Apple, Blackhawk, ePay, Google, Incomm, PayPal, Stripe, Microsoft, Sony's PlayStation Network, and Xsolla, to receive cash proceeds from purchases of Robux." |
| Supplier | PayPal (PYPL) | "We utilize these distribution channels, such as Amazon, Apple, Blackhawk, ePay, Google, Incomm, PayPal, Stripe, Microsoft, Sony's PlayStation Network, and Xsolla, to receive cash proceeds from purchases of Robux." |
| Supplier | Sony (SONY) | "We utilize these distribution channels, such as Amazon, Apple, Blackhawk, ePay, Google, Incomm, PayPal, Stripe, Microsoft, Sony's PlayStation Network, and Xsolla, to receive cash proceeds from purchases of Robux." |
| Partner | Tencent | "In February 2019, we entered into a joint venture agreement with Songhua River Investment Limited, referred to as Songhua, an affiliate of Tencent Holdings Limited ("Tencent Holdings"), under which we created Roblox Chin…" |
| Partner | Songhua River Investment | "Any future requirement to purchase the interest in China JV from Songhua may have a material adverse effect upon our liquidity, financial condition, and results of operations both as a result of the purchase of such inte…" |
| Competitor | Meta Platforms (META) | "We compete for users and their engagement hours with global technology leaders such as Amazon, Apple, Meta Platforms, Google, Microsoft, and Tencent, global entertainment companies such as Comcast, Disney, Paramount Glob…" |
| Competitor | Apple (AAPL) | "We compete for users and their engagement hours with global technology leaders such as Amazon, Apple, Meta Platforms, Google, Microsoft, and Tencent, global entertainment companies such as Comcast, Disney, Paramount Glob…" |
| Competitor | Alphabet (Google) (GOOGL) | "We compete for users and their engagement hours with global technology leaders such as Amazon, Apple, Meta Platforms, Google, Microsoft, and Tencent, global entertainment companies such as Comcast, Disney, Paramount Glob…" |
| Competitor | Microsoft (MSFT) | "We compete for users and their engagement hours with global technology leaders such as Amazon, Apple, Meta Platforms, Google, Microsoft, and Tencent, global entertainment companies such as Comcast, Disney, Paramount Glob…" |
| Competitor | Comcast (CMCSA) | "We compete for users and their engagement hours with global technology leaders such as Amazon, Apple, Meta Platforms, Google, Microsoft, and Tencent, global entertainment companies such as Comcast, Disney, Paramount Glob…" |
| Competitor | Walt Disney (DIS) | "We compete for users and their engagement hours with global technology leaders such as Amazon, Apple, Meta Platforms, Google, Microsoft, and Tencent, global entertainment companies such as Comcast, Disney, Paramount Glob…" |
| Competitor | Netflix (NFLX) | "We compete for users and their engagement hours with global technology leaders such as Amazon, Apple, Meta Platforms, Google, Microsoft, and Tencent, global entertainment companies such as Comcast, Disney, Paramount Glob…" |
| Competitor | Spotify (SPOT) | "We compete for users and their engagement hours with global technology leaders such as Amazon, Apple, Meta Platforms, Google, Microsoft, and Tencent, global entertainment companies such as Comcast, Disney, Paramount Glob…" |
| Competitor | ByteDance | "We compete for users and their engagement hours with global technology leaders such as Amazon, Apple, Meta Platforms, Google, Microsoft, and Tencent, global entertainment companies such as Comcast, Disney, Paramount Glob…" |

## Customer concentration

Period ended 2025-12-31: 29%, 15% of revenue from unnamed direct customers (10-K, filed 2026-02-11).

## Company outlook (8-K filed 2026-07-30)

- "Guidance​ ​Our conviction in the ability to deliver 20%+ compounded top line growth over the long term has​ ​not changed."
- "We expect a sequential increase in DAUs, benefitting from​ ​seasonality and our recent discovery algorithm changes, though monetization softness observed​ ​in Q2 is expected to persist in Q3.​ ​Given our expectations for Q3 bookings, we expect fixed cost deleveraging."
- "Additionally, we​ ​anticipate incremental investments in infrastructure to support AI-related initiatives like Build,​ ​Roblox Reality, and Moments.​ ​In Q3 2026, we expect operating cash flow in the range of $110 million to $175 million and free​ ​cash flow in the range of $(60) million to $5 million, including previously disclosed back-half​ ​loaded capital expenditures."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-0.42 | $-0.42 | +0.2% | $1.62B | 17 |
| Next quarter (ends 2026-12-31) | $-0.44 | $-0.41 | +6.5% | $2.00B | 17 |
| Current fiscal year (ends 2026-12-31) | $-1.48 | $-1.48 | -0.4% | $6.90B | 25 |
| Next fiscal year (ends 2027-12-31) | $-1.21 | $-1.12 | +8.8% | $7.76B | 26 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-10-30 (includes earnings 2026-10-29): ±14.4%; last 8 reports averaged ±13.9%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-10-30 | 7 | 129.0% | ±14.4% |
| 2026-11-06 | 14 | 100.9% | ±15.9% |
| 2026-11-13 | 21 | 92.5% | ±17.7% |
| 2026-11-20 | 28 | 82.3% | ±18.2% |
| 2026-11-27 | 35 | 75.8% | ±18.7% |
| 2026-12-04 | 42 | 72.6% | ±19.6% |
| 2026-12-18 | 56 | 68.6% | ±21.3% |
| 2027-01-15 | 84 | 63.7% | ±24.2% |