Revenue growth remains robust at 39.3% in 2026Q1, though the company continues to face structural profitability challenges with a negative operating margin of 20.4%.
| Sales/Revenue | 5.3B | 4.89B | 3.6B | 2.8B | 2.23B | 1.92B | 923.88M | 508.39M | 324.96M |
| Revenue Growth % | 38.1% | 35.77% | 28.68% | 25.81% | 15.94% | 107.73% | 81.73% | 56.45% | - |
| Cost of Goods Sold | 1.14B | 1.07B | 801.16M | 649.12M | 547.66M | 496.87M | 239.9M | 122.38M | 72.98M |
| COGS % of Revenue | - | 21.93% | 22.24% | 23.19% | 24.61% | 25.89% | 25.97% | 24.07% | 22.46% |
| Gross Profit | 4.16B | 3.82B | 2.8B | 2.15B | 1.68B | 1.42B | 683.99M | 386.01M | 251.98M |
| Gross Margin % | 78.45% | 78.07% | 77.76% | 76.81% | 75.39% | 74.11% | 74.03% | 75.93% | 77.54% |
| Gross Profit Growth % | - | 36.33% | 30.26% | 28.18% | 17.93% | 107.94% | 77.19% | 53.19% | - |
| Operating Expenses | 5.43B | 5.05B | 3.86B | 3.41B | 2.6B | 1.92B | 950.12M | 462.45M | 339.53M |
| OpEx % of Revenue | - | 103.27% | 107.28% | 121.79% | 116.9% | 99.91% | 102.84% | 90.96% | 104.48% |
| Selling, General & Admin | 1.68B | 826.29M | 581.69M | 536.51M | 414.76M | 389.38M | 155.72M | 86.68M | 75M |
| SG&A % of Revenue | - | 16.9% | 16.15% | 19.17% | 18.64% | 20.29% | 16.86% | 17.05% | 23.08% |
| Research & Development | 1.62B | 1.57B | 1.44B | 1.25B | 873.48M | 533.21M | 201.43M | 107.09M | 87.05M |
| R&D % of Revenue | - | 32.06% | 40.09% | 44.78% | 39.26% | 27.78% | 21.8% | 21.07% | 26.79% |
| Other Operating Expenses | 3M | 2.66B | 1.84B | 1.62B | 1.31B | 994.82M | 592.97M | 268.68M | 177.48M |
| Operating Income | -1.27B | -1.23B | -1.06B | -1.26B | -923.78M | -495.1M | -266.14M | -76.44M | -87.55M |
| Operating Margin % | -24.01% | -25.2% | -29.52% | -44.98% | -41.52% | -25.8% | -28.81% | -15.04% | -26.94% |
| Operating Income Growth % | - | -15.9% | 15.55% | -36.29% | -86.59% | -86.03% | -248.16% | 12.69% | - |
| EBITDA | -1.1B | -1.01B | -836.88M | -1.05B | -793.7M | -419.48M | -222.33M | -48.78M | -75.61M |
| EBITDA Margin % | -20.76% | -20.58% | -23.23% | -37.54% | -35.67% | -21.86% | -24.06% | -9.59% | -23.27% |
| EBITDA Growth % | -39.31% | -20.27% | 20.37% | -32.41% | -89.21% | -88.67% | -355.82% | 35.49% | - |
| D&A (Non-Cash Add-back) | 172.09M | 225.82M | 226.44M | 208.14M | 130.08M | 75.62M | 43.81M | 27.66M | 11.94M |
| EBIT | -1.12B | -1.03B | -896.69M | -1.12B | -891.95M | -497.02M | -264.35M | -71.11M | -87.55M |
| Net Interest Income | 170.26M | 161.58M | 138.35M | 101.11M | -1.06M | -6.91M | 1.82M | 6.55M | 3.76M |
| Interest Income | 210.29M | 201.61M | 179.53M | 141.82M | 38.84M | 92K | 1.82M | 6.55M | 3.76M |
| Interest Expense | 40.03M | 40.03M | 41.18M | 40.71M | 39.9M | 7M | 0 | 0 | 0 |
| Other Income/Expense | 172.09M | 164.32M | 126.82M | 100.58M | -6.8M | -8.7M | 1.79M | 5.33M | -520K |
| Pretax Income | -1.1B | -1.07B | -936.5M | -1.16B | -930.59M | -503.8M | -264.35M | -71.11M | -88.07M |
| Pretax Margin % | -20.76% | -21.84% | -26% | -41.39% | -41.82% | -26.25% | -28.61% | -13.99% | -27.1% |
| Income Tax | 1.73M | 3.59M | 4.11M | 454K | 3.55M | -320K | -6.66M | 9K | 3K |
| Effective Tax Rate % | -0.16% | -0.34% | -0.44% | -0.04% | -0.38% | 0.06% | 2.52% | -0.01% | -0% |
| Net Income | -1.1B | -1.07B | -935.38M | -1.15B | -924.37M | -491.65M | -253.25M | -70.97M | -88.08M |
| Net Margin % | -20.69% | -21.78% | -25.97% | -41.15% | -41.54% | -25.62% | -27.41% | -13.96% | -27.1% |
| Net Income Growth % | -24.57% | -13.86% | 18.8% | -24.62% | -88.01% | -94.13% | -256.86% | 19.42% | - |
| Net Income (Continuing) | -1.1B | -1.07B | -940.61M | -1.16B | -934.14M | -503.48M | -257.69M | -71.11M | -88.08M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | -21M | -19.5M | -12.79M | -7.66M | -991K | 8.11M | 20.01M | 24.36M | 0 |
| EPS (Diluted) | -1.54 | -1.54 | -1.44 | -1.87 | -1.55 | -0.97 | -0.47 | -0.13 | -0.55 |
| EPS Growth % | -17.91% | -6.94% | 22.99% | -20.65% | -59.79% | -106.38% | -261.54% | 76.36% | - |
| EPS (Basic) | - | -1.54 | -1.44 | -1.87 | -1.55 | -0.97 | -0.47 | -0.13 | -0.55 |
| Diluted Shares Outstanding | 711.7M | 689.61M | 647.48M | 616.45M | 595.56M | 505.86M | 534.82M | 526.23M | 160.84M |
| Basic Shares Outstanding | 711.7M | 689.61M | 647.48M | 616.45M | 595.56M | 505.86M | 534.82M | 526.23M | 160.84M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - |
Persistent Operating Margin Deficit
As reported in recent financial statements, RBLX achieved a 39.3% year-over-year revenue growth rate in 2026Q1, demonstrating that the platform's top-line expansion remains robust despite the significant scale already achieved, with quarterly revenue reaching $1.4 billion as the company continues to penetrate its core demographic segments.
The acceleration in revenue growth suggests that the platform's network effects are successfully driving higher monetization per user. Investors should monitor whether this trajectory is sustainable or if it reflects temporary seasonal tailwinds that may normalize in subsequent quarters.
Based on the company's reported figures, operating expenses continue to scale alongside revenue, with 2026Q1 operating income remaining negative at $294 million, indicating that the platform has yet to achieve the necessary operational efficiency to decouple its cost base from its top-line growth trajectory.
The persistent gap between gross profit and operating income highlights the heavy burden of R&D and administrative overhead required to maintain the platform. This suggests that management's current priority remains aggressive expansion over immediate profitability, which may concern investors seeking a clear path to positive operating margins.
According to recent SEC filings, RBLX consistently issues significant stock-based compensation, with $275 million recorded in 2026Q1 alone, which effectively masks the underlying cash burn and complicates the assessment of true economic profitability for shareholders evaluating the company's long-term earnings potential and dilution risks.
The reliance on equity-based incentives appears to be a structural component of the company's compensation strategy, which may lead to persistent shareholder dilution. Analysts should carefully adjust for these non-cash expenses to determine the actual cash-generating capacity of the core business model.
As indicated by the income statement data, the company's reliance on high-cost developer payouts and platform fees creates a structural ceiling on profitability, with 2026Q1 net margins remaining negative at 17.1%, suggesting that the business model may be inherently limited by its current cost-sharing architecture.
Short-sellers may focus on the inability of the company to transition toward GAAP profitability despite massive revenue scale. This warrants further investigation into whether the platform can ever achieve sustainable margins without fundamentally altering its relationship with the developer ecosystem or mobile app store providers.
Quick answers to the most common questions about buying RBLX stock.
For fiscal year 2025, Roblox Corporation (RBLX) reported total revenue of $4.89B. This represents a 1405.0% increase compared to $325.0M in 2018.
Roblox Corporation (RBLX) reported a net loss of $1.07B for the fiscal year ending 2025.
Roblox Corporation (RBLX) reported an operating income of $-1232.3M, resulting in an operating profit margin of -25.2%. This margin reflects the operational efficiency of the business before interest and taxes.
Roblox Corporation (RBLX) generated $3.82B in gross profit for the year, representing a gross profit margin of 78.1%. This demonstrates the company's core pricing power and production efficiency.