Roblox went public last week and is worth $45 billion -- why is Roblox so interesting to people with money, and what does that tell us about games as a whole?

Roblox is evolving from a game-centric ecosystem into a full-scale platform with multiple levers for upside. This article breaks down the business model after a deep dive of Q2 '25 numbers.

Roblox is benefitting from unit economies, with bookings growth outpacing the growth in fixed growth. I expect Roblox to exceed management’s full-year guidance for bookings and free cash flow ...

Roblox reported its first negative free cash flow figure as it burned through $57 million compared to a positive result of more than $100 million in six of the last seven quarters.