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Roblox (RBLX) is nicely higher after reporting its Q4 results last night. The online gaming and creator platform delivered a modest EPS beat, while bookings surged 63% yr/yr to $2.2 bln, above expectations. Additionally, the company expects FY26 bookings to grow 22-26% to $8.282-8.553 bln, which was also above expectations and on top of the 55% growth seen in FY25.

• Q4 delivered strong engagement and bookings growth without a major new viral hit, as growth broadened outside the top 10 experiences with 68% engagement growth and 53% growth in Robux spending, accelerating from Q3.
• DAUs increased 69% yr/yr to 144 mln, while hours engaged rose 88% yr/yr to 35 bln. Monthly unique payers nearly doubled yr/yr to 36.7 mln, underscoring broad-based monetization strength.
• This was fueled by robust growth across all regions, with US and Canada up 41% yr/yr and APAC up 96% yr/yr, led by Japan up 160%, India up 110%, and Indonesia up over 700% yr/yr.
• RBLX's age-check rollout confirmed the user base still skews younger, but revealed a larger 18-plus cohort than expected that is growing over 50% and monetizes about 40% higher, expanding the opportunity for stronger monetization.
• Consolidated net loss widened in Q4 to $318 mln from $221 mln as RBLX leaned into reinvestment in creators, safety, and platform infrastructure, including AI. On AI, management downplayed disruption fears from efforts like Google's Genie, arguing the opportunity is expanding and RBLX's multiplayer 3D platform remains a key differentiator.
• Its current guidance reflects continued DAU and hours growth, while margins are expected to be flat to slightly down as it invests in DevEx, infrastructure, and safety. Additionally, RBLX will shift to quarterly guidance in FY27 to better reflect fast-changing content trends.

Briefing.com Analyst Insight

This was a strong finish to FY25 for RBLX, highlighted by the surge in engagement across the platform. What stood out was the broadening of growth, showing that even without a major viral hit, RBLX can still generate compelling momentum as spend and engagement expand beyond its top experiences, supporting its strong bookings outlook. The age-check rollout also revealed a larger 18-plus cohort than expected that monetizes at higher levels, creating a bigger long-term opportunity even with some modest near-term friction. The widening loss remains a point of note as RBLX continues to reinvest in creators, safety, infrastructure, and AI. Even so, the combination of broader content-driven growth and a larger 18-plus monetization opportunity keeps the long-term setup attractive.