Roblox Corp-A 2025年度报告

Thursday, May 28, 20268:00 AM (Pacific Time) Roblox’s mission is to connect a billionpeople with optimism and civility. $1.8BOperating Cash Flow $4.9BRevenue $1.5B+Developer Exchange Fees 124BHours Engaged 127MAverage Daily Active Users Letter from the Founder and CEO Fellow Stockholders, Two decades ago, when we were starting work on early versions of Roblox, we believed the internet could be about more thaninformation—it could be about participation. We believed that people didn't just want to experience worlds built for them; theywanted to build those worlds. Today, Roblox is at the center of a world where millions of daily active users (DAUs) come to play,learn, create, and connect. As we reflect on the past year, our guiding long-term vision remains the same: to connect one billionusers with optimism and civility. Fiscal 2025 was a banner year for Roblox. Revenue grew 36% year-over-year to $4.9 billion, and bookings grew 55% year-over-yearto $6.8 billion1. This performance was driven by the addition of approximately 60 million DAUs from Q4 2024 to Q4 2025. Our morethan 144 million DAUs (as of Q4 2025) are drawn in by the diversity and breadth of content and social features that promote deeperengagement, which fuels the Roblox flywheel. Ultimately, our success is rooted in the boundless imagination of our creatorcommunity. In 2025, our creators earned more than $1.5 billion, reflecting our belief that when creators succeed, our entireecosystem grows stronger. We are standing at the edge of an extraordinary moment where cloud, mobile and artificial intelligence are converging. At Roblox,we are innovating aggressively in AI to transform how our community builds, connects and stays safe. Over the past four years, wehave embedded AI models into our vertically integrated stack. Today, we have developed and deployed over 400 models on theRoblox platform to power every facet of our ecosystem. Our AI initiatives are fueled by a unique advantage: we possess 12 billion hours of human interaction data per month to train ourfoundation models. This is not just video, but a 3D record of avatar movement, facial expressions and billions of chat and voicemessages. With this foundation, we are driving innovation across several key areas: ◼Creation: We envision a future where anyone can build anything they imagine just by talking about it, ensuring that creation isn'tlimited by technical skill. To that end, we are helping creators build faster and with higher fidelity through tools like RobloxAssistant, which automates repetitive coding tasks, and Avatar Auto-Setup. Recently, we enhanced "Cube," our proprietary 3Dfoundation model, with the ability to add interactivity to objects, significantly reducing the time required to create functional 3Dassets. ◼Discovery: AI is transforming how users find content and interact with each other. Improvements to our discovery algorithms arematching users with the content they love, stimulating our entire ecosystem. Furthermore, we are removing language barriersthrough the auto-translation of text chat into 17 different languages. ◼Safety: We have developed and open-sourced state-of-the-art models, including Roblox Sentinel for real-time childendangerment detection and Roblox Guard for Large Language Model moderation. These technologies allow us to enforce ourcommunity standards faster, more accurately and at a massive scale. We are not stopping here. Ultimately, our long-term vision is to build foundation models that will support large-scale, photo-realistic, multi-player games where thousands of users—and AI-powered NPCs—can come together, communicate and compete onany device. Roblox remains steadfast in its commitment to define and execute on our vision to be the gold standard for online safety. At the endof 2025, we began rolling out mandatory age-checks for access to chat on our platform. Reliable age data enables us tosignificantly improve platform safety while simultaneously driving engagement growth by tailoring features, content andcommunication to the age of our users. Age-check data highlights two important characteristics about Roblox: (1) our immensenumber of younger users is a unique strategic asset and (2) we have a larger than expected opportunity to capture more users in the18+ age cohort and are encouraged by the fact that they are one of the fastest growing age cohorts on our platform. Looking ahead, we are confident in our vision to connect one billion users and our interim goal of capturing 10% of the globalgaming content market and even more of the U.S. market. To achieve this, we are optimizing our platform for the creation of ‘novel’games which we believe will expand our footprint among older audiences. Simultaneously, we are harnessing the power of AI toaccelerate content creation, enhance discovery and fuel ongoing user engagement. By pairing these innovations with an unwaveringcommitment to online safety and continued investment in our creato