Roblox Corp
- Industrie
- Gaming
- Bourse
- États-Unis
- Pays / Région
- USA
- Date d'introduction en bourse
- 10 mars 2021
- Effectif
- 3 065
- Site web
- corp.roblox.com
Fourchette de valorisation composite · prudent $30–$36 / raisonnable $38–$50 / optimiste $60–$68. À $48.42, Dans la fourchette de valeur intrinsèque raisonnable.
À la publication $43.31 (15 juin 2026)
Données EODHD, présentées dans la devise de reporting ; à titre indicatif uniquement, ne constitue pas un conseil en investissement.
Roblox Corporation operates an immersive platform for connection and communication in the United States and internationally. It offers Roblox Client, an application that allows users to explore immersive experience; Roblox Studio, a free toolset that allows developers and creators to build, publish, and operate immersive experiences and other content; and Roblox Cloud, which provides services and infrastructure that power the platform. Roblox Corporation was incorporated in 2004 and is headquartered in San Mateo, California.
Historique
Roblox traces back to David Baszucki and Erik Cassel, who began building prototypes in 2003 and formally founded the company in 2004; Baszucki had earlier created the physics-simulation software Knowledge Revolution, and the earliest product was named DynaBlocks before Roblox launched publicly in 2006. The company headquartered in San Mateo, California, took an unconventional path to public markets: it postponed its originally planned IPO in December 2020, faced SEC questions on its revenue-recognition approach, and ultimately switched to a direct listing in January 2021 alongside a funding round that lifted its valuation toward roughly $30 billion. On March 10, 2021, the NYSE set a reference price of $45 and the stock opened at $64.50 on its first day. An earlier February 2020 Series G round had brought in Andreessen Horowitz, Temasek and Tencent. In fiscal 2021 revenue grew 108% to $1.9 billion and Bookings rose 45% to $2.7 billion, with DAU reaching 45.5 million, operating cash flow of $659 million and free cash flow of $558 million. The post-pandemic period was harsher: full-year 2022 Bookings grew only 5% and free cash flow turned negative, with the share price falling to a low near $21.65; the stock later set a record high of $150.59 in July 2025 before retreating to $43.31 by June 12, 2026, a drawdown of roughly 71%. In October 2024 short-seller Hindenburg questioned the company's DAU and safety metrics, which Roblox publicly rebutted. During 2025 the platform reaccelerated, with Q2 DAU up 41%, Hours up 58% and Bookings up 51%, a five-year-high DAU growth rate in Q3, and a Q4 report stating Roblox had reached 3.4% of the global gaming content market while setting a long-term target of 10%. From November 2025 the company required age verification to use chat and restricted communication between adults and users under 16, and in April 2026 it introduced Kids and Select account tiers. Russia banned Roblox from December 2025, removing roughly 4 million DAU, with Reuters reporting in June 2026 that the ban had been lifted. As of the first quarter of 2026 the company held $5.356 billion in cash and investments against a net cash position exceeding $4.3 billion, with long-term debt consisting mainly of $1 billion in senior notes due 2030.
Position dans le secteur
Roblox operates a user-generated-content (UGC) immersive gaming platform within the Communication Services sector (Electronic Gaming & Multimedia), where users purchase the in-platform virtual currency Robux and spend it on experiences, avatar items, subscriptions and other virtual goods; the company pays a portion back to qualified developers via DevEx and recognizes most revenue on a deferred basis over an estimated paying-user lifetime of about 27 months. Its moat rests on a three-layer flywheel: creator liquidity, with more than 35,500 creators meeting DevEx criteria and creators earning a cumulative $1.503 billion in 2025 versus $0.923 billion in 2024; an in-platform distribution and payment closed loop, since Robux can only be bought and spent on the platform and developers monetize solely through Roblox; and low-barrier creation tools plus hosting infrastructure, including Roblox Studio, cloud hosting, payments and localization, letting developers ship content with almost no upfront capital. Governance is highly concentrated: Class B shares carry 20 votes each and Baszucki and affiliates hold all outstanding Class B stock, while Naveen Chopra joined from Paramount as CFO in mid-2025. The company places itself in a large global gaming market that Newzoo's 2025 report sized at roughly $188.8 billion, of which Roblox reported a 3.4% share with a 10% long-term target. It has no direct, purely comparable public peer: private or non-comparable competitors include Epic's Fortnite ecosystem, Discord's communication layer and Minecraft's creative sandbox, while public valuation anchors span Take-Two (high-quality game content), Unity (developer tools and ad technology), Snap (young-user attention and ad monetization) and Meta (mature social advertising). Roblox is differentiated by simultaneously holding the supply, demand and settlement sides—creator production, player consumption and a closed virtual-currency loop—on a single platform.