Roblox Corporation — research brief

NYSE: RBLX. Educational notes. Not affiliated with Roblox. Quarter is Q2 2026, ended June 30, 2026, reported July 30, 2026.

FACT — Q2 results (shareholder letter exhibit 99.1 and the supplemental bridge quoted with the release)

Revenue $1,469M vs $1,081M, +36%. Bookings $1,557M vs $1,438M, +8%. Bridge: revenue + $99M change in deferred revenue − $11M other = bookings.
Letter prose: revenue “grew 36% to $1.5 billion”; bookings growth 8% at the low end of guidance. Constant-currency: revenue +36%, bookings +7%.
Over 120 million DAUs; over 29 billion hours. (Supplemental coverage also printed 123 million DAUs, +10%, and hours +5%. The letter’s own words are “over 120 million” and “over 29 billion.”)
Cost of revenue $292M, +24%. Developer exchange fees $363M, +15%, reflecting the Sep 5, 2025 creator-earnings increase.
Operating cash flow $318M (+60%). Free cash flow $294M (+66%).
Mix shift: younger US and Canada cohorts moved from high-monetizing 2025 viral games to lower hourly-monetization titles. Recommended for You favored retention over near-term spend. Cross-experience game-pass sales were disabled (smaller effect).
Russia reinstated in June: modest sequential DAU/hours help; still about a 3-point YoY headwind.
Estimated average lifetime of a paying user: 27 months as of June 30, 2026 (supplemental note).

FACT — DevEx (Creator Docs, current page)

Standard rate $0.0038 per Earned Robux = $114 / 30,000.
US 18+ verified players: $0.0054 on eligible in-experience purchases (developer products, passes, subscriptions, private servers).
Before Sep 5, 2025 10:00am PT the standard rate was $0.0035 ($105 / 30,000). Old balances cash out first.
Earned Robux excludes purchased Robux, subscription grants, trading/resale, gift cards, and transfers received.
Eligibility: 13+, 30,000 Earned Robux minimum, verified email, W-9 or W-8, Terms compliance. One completed cash-out per calendar month. Payouts via DevEx Portal (Tipalti). First-time ~10 business days; returning ~5. Not a guarantee.

FACT — Roblox Plus (newsroom, Apr 10, 2026; live Apr 30)

$4.99 USD/month globally.
10% discount on in-game items and avatars immediately; 20% from the third consecutive month. Roblox funds the discount; creators earn the same Robux.
Free unlimited private servers on supported games. Creators can earn up to 100 Robux when a Plus subscriber spends 60+ minutes in a paid private server over 30 days, for up to five servers.
In-game PromptRobloxSubscriptionPurchase: 250 Robux/month for each of the subscriber’s first three months (up to 750).
Fee-free Robux transfers (senders must be Plus; parental approval for younger users; 18+ age-checked to send/receive without it).
Optional bundles Plus 500 / 1000 / 2000 include that many Robux monthly. Dollar prices of the bundles were not in the launch post — not invented here.
New Premium sign-ups stop. Existing Premium continues, with a free one-month Plus trial they can stack. From May 30, Premium’s 10% bonus on extra Robux purchases and the Premium logo end.

Not invented

Retail price per purchased Robux (packages change; not cited).
Full GAAP opex stack beyond cost of revenue and DevEx.
Headcount, valuation.

Teaching arc

Players buy Robux (bookings) → spend in creator experiences → revenue recognized over time → creators cash out at a fraction of a cent → Roblox’s spread is the platform take → Plus is a $4.99 layer Roblox discounts on its own dime.

Sources

# Roblox Corporation — research brief NYSE: RBLX. Educational notes. **Not affiliated with Roblox.** Quarter is Q2 2026, ended June 30, 2026, reported July 30, 2026. ## FACT — Q2 results (shareholder letter exhibit 99.1 and the supplemental bridge quoted with the release) - Revenue $1,469M vs $1,081M, +36%. Bookings $1,557M vs $1,438M, +8%. Bridge: revenue + $99M change in deferred revenue − $11M other = bookings. - Letter prose: revenue “grew 36% to $1.5 billion”; bookings growth 8% at the low end of guidance. Constant-currency: revenue +36%, bookings +7%. - Over 120 million DAUs; over 29 billion hours. (Supplemental coverage also printed 123 million DAUs, +10%, and hours +5%. The letter’s own words are “over 120 million” and “over 29 billion.”) - Cost of revenue $292M, +24%. Developer exchange fees $363M, +15%, reflecting the Sep 5, 2025 creator-earnings increase. - Operating cash flow $318M (+60%). Free cash flow $294M (+66%). - Mix shift: younger US and Canada cohorts moved from high-monetizing 2025 viral games to lower hourly-monetization titles. Recommended for You favored retention over near-term spend. Cross-experience game-pass sales were disabled (smaller effect). - Russia reinstated in June: modest sequential DAU/hours help; still about a 3-point YoY headwind. - Estimated average lifetime of a paying user: 27 months as of June 30, 2026 (supplemental note). ## FACT — DevEx (Creator Docs, current page) - Standard rate **$0.0038** per Earned Robux = **$114 / 30,000**. - US 18+ verified players: **$0.0054** on eligible in-experience purchases (developer products, passes, subscriptions, private servers). - Before Sep 5, 2025 10:00am PT the standard rate was **$0.0035** ($105 / 30,000). Old balances cash out first. - Earned Robux excludes purchased Robux, subscription grants, trading/resale, gift cards, and transfers received. - Eligibility: 13+, 30,000 Earned Robux minimum, verified email, W-9 or W-8, Terms compliance. One completed cash-out per calendar month. Payouts via DevEx Portal (Tipalti). First-time ~10 business days; returning ~5. Not a guarantee. ## FACT — Roblox Plus (newsroom, Apr 10, 2026; live Apr 30) - **$4.99 USD/month** globally. - 10% discount on in-game items and avatars immediately; 20% from the third consecutive month. Roblox funds the discount; creators earn the same Robux. - Free unlimited private servers on supported games. Creators can earn up to 100 Robux when a Plus subscriber spends 60+ minutes in a paid private server over 30 days, for up to five servers. - In-game PromptRobloxSubscriptionPurchase: 250 Robux/month for each of the subscriber’s first three months (up to 750). - Fee-free Robux transfers (senders must be Plus; parental approval for younger users; 18+ age-checked to send/receive without it). - Optional bundles Plus 500 / 1000 / 2000 include that many Robux monthly. **Dollar prices of the bundles were not in the launch post — not invented here.** - New Premium sign-ups stop. Existing Premium continues, with a free one-month Plus trial they can stack. From May 30, Premium’s 10% bonus on extra Robux purchases and the Premium logo end. ## Not invented - Retail price per purchased Robux (packages change; not cited). - Full GAAP opex stack beyond cost of revenue and DevEx. - Headcount, valuation. ## Teaching arc Players buy Robux (bookings) → spend in creator experiences → revenue recognized over time → creators cash out at a fraction of a cent → Roblox’s spread is the platform take → Plus is a $4.99 layer Roblox discounts on its own dime. ## Sources - https://www.sec.gov/Archives/edgar/data/1315098/000162828026051059/ex991-robloxq22026earnin.htm - https://ir.roblox.com/news/news-details/2026/Roblox-Reports-Second-Quarter-2026-Financial-Results/default.aspx - https://create.roblox.com/docs/production/monetization/developer-exchange - https://en.help.roblox.com/hc/en-us/articles/27984458742676-Earned-Robux-Earned-Robux-Balance-and-DevEx-Rates - https://about.roblox.com/newsroom/2026/04/introducing-roblox-plus-subscription