Roblox三季度财报：营收超预期但DAU下滑，AI工具Build用户破50万

Roblox just posted a set of Q3 financials that the markets didn’t really like – shares are down 19% in after hours trading.

That’s despite the UGC platform beating guidance on billings, revenue and cash flow. The problem is that Roblox hasn’t been able to maintain the explosive growth in 2025, powered by Steal A Brainrot and Grow A Garden.

It has also invested in player safety and moderation tools that have damaged engagement. It has also rceently tilted its recommendation algorithms to highlight games with better long-term retention over short term revenue generators.

Roblox’s Q3 numbers in brief:

• Revenue was $1.6bn (up 16% year-over-year)
• Bookings were $1.7bn (down 12% YoY)
• Profits as measured by adjusted EBITDA were $138m (up dramatically from $45.7m the year prior)
• Operating cash flow was $395m, with free cash flow of $364m
• Consolidated net losses were $230m, down from $258m the year prior
• DAUs were 138m, down 9% YoY
• In India, DAUs grew 37% and in Japan, DAUs rose 33%

Roblox’s guidance for the next quarter won’t have helped investor confidence either. It expects year-on-year bookings to fall by 10-15%.

In a shareholder letter, CEO David Baszucki stressed that the firm was embracing AI content generation, stating that in the past month, more than 80% of the top 100 games on Roblox help creation. The number of daily asset uploads Roblox tripled month-over-month, he added, and   Q3 hits Break and Steal an Egg and Huss Valley were both “created almost entirely with AI“, he said.

He also said that Build, Roblox’s ‘prompt-to-game’ tool, has attracted 500k users since its limited aunch in New Zealand, Singapore, Serbia and Thailand. Build users have so far published over 70,000 games, he said.

There was also a brief reference to the new tools that promise to help Roblox creators publish their games on other platforms – a first phase of that rollout is expected in the first half of 2027.

Elsewhere in the shareholder letter, Baszucki claimed that “approximately 20% of the U.S. U18 gaming market runs through Roblox” and that “approximately 30% of U.S. 13-17 year olds use the platform daily”.

On its advertising business, Baszucki said that more than 70% of the top 100 games ranked by Robux spent ran sponsored ads, and over 20% of games using rewarded video generated over 10% of their in-game earnings from advertising.

He also outlined further plans to expand players aged 18 and over with user acquisition advertising, and reiterated several safety announcements. “By the end of Q3 26, 64% of global DAUs had completed an age check, including more than 80% of DAUs aged 13 to 17,” Baszucki said. “In key markets like Australia, the US and the UK, age-check penetration of total DAUs reached 80%, 75% and 75%, respectively.”