Roblox Corporation (RBLX) Cash Flow Statement
Where RBLX’s cash came from and went, 2025
December 31, 2025 · U.S. dollars- Cash from operations
- $1.80B +118.5% vs 2024
- Capital expenditures
- $443.5M 9.1% of revenue
- Free cash flow
- $1.35B 27.7% margin
- Returned to shareholders
- —
- Change in cash
- $493.6M cash at year-end $1.21B
Cash from operations
$1.80B
Capital expenditures
−$443.5M
Investments (net)
−$949.2M
Shares issued
+$88.5M
Change in cash
$493.6M
Drawn to scale: where the cash came from and how it was used. Hover for values.
RBLX operating cash flow, capex and free cash flow
Operating cash flowCapital expendituresFree cash flowFCF margin (right axis)
RBLX cash flow trends, 2018–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | $101.0M2018 | $1.80B2025 | +50.9%/yr | |
| Capital expenditures | $66.1M2018 | $443.5M2025 | +31.3%/yr | |
| Free cash flow | $35.0M2018 | $1.35B2025 | +68.6%/yr | |
| Free cash flow margin | 10.8%2018 | 27.7%2025 | +16.9 pts | |
| Stock-based compensation | $36.3M2018 | $1.13B2025 | +63.4%/yr | |
| Share buybacks (net) | $02021 | $150,0002022 | — | |
| Capex / revenue | 20.3%2018 | 9.1%2025 | −11.3 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
RBLX cash flow by activity
OperatingInvestingFinancingChange in cash
RBLX net income vs operating cash flow
Net incomeOperating cash flow
Operating cash flow above net income usually means earnings are backed by cash (depreciation and stock-based pay are non-cash expenses).
RBLX cash flow statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||
| Net income | −$1.07B | −$940.6M | −$1.16B | −$934.1M | −$503.5M | −$257.7M | −$71.1M | −$88.1M |
| Depreciation & amortization | $225.8M | $226.4M | $208.1M | $130.1M | $75.6M | $43.8M | $27.7M | $11.9M |
| Stock-based compensation | $1.13B | $1.02B | $868.0M | $589.5M | $341.9M | $79.2M | $17.6M | $36.3M |
| Change in working capital | $1.45B | $481.0M | $506.8M | $513.1M | $700.3M | $656.0M | $124.5M | $137.2M |
| Other non-cash items | $59.2M | $39.7M | $34.2M | $70.7M | $44.7M | $3.0M | $497,000 | $3.6M |
| Cash from operating activities | $1.80B | $822.3M | $458.2M | $369.3M | $659.1M | $524.3M | $99.2M | $101.0M |
| Investing activities | ||||||||
| Capital expenditures | −$443.5M | −$181.0M | −$334.2M | −$427.7M | −$101.1M | −$113.1M | −$84.7M | −$66.1M |
| Investments (net) | −$949.2M | −$852.1M | −$2.83B | −$441.1M | −$146.8M | $57.0M | −$84.3M | −$83.2M |
| Acquisitions & other investing | $0 | $181.0M | $334.2M | $427.7M | $101.1M | −$40.9M | $84.7M | $66.1M |
| Cash from investing activities | −$1.39B | −$852.1M | −$2.83B | −$441.1M | −$146.8M | −$97.0M | −$84.3M | −$83.2M |
| Financing activities | ||||||||
| Dividends paid | — | — | — | −$150,000 | — | — | — | — |
| Share repurchases & issuance (net) | — | — | — | −$150,000 | $610.5M | — | — | — |
| Net borrowing (repayment) | $0 | $0 | $14.7M | $0 | $990.0M | $990.0M | $990.0M | $990.0M |
| Shares issued | $88.5M | $70.3M | $53.2M | $45.8M | $610.5M | $165.0M | $3.1M | $151.8M |
| Other financing | $0 | −$4.5M | −$750,000 | −$1.8M | −$612.8M | −$990.0M | −$940.0M | −$990.0M |
| Cash from financing activities | $88.5M | $65.9M | $67.2M | $43.6M | $1.60B | $165.0M | $53.1M | $151.8M |
| Summary | ||||||||
| Net change in cash | $493.6M | $33.2M | −$2.30B | −$26.8M | $2.11B | $592.5M | $68.0M | $169.7M |
| Cash at end of period | $1.21B | $711.7M | $678.5M | $2.98B | $3.00B | $893.9M | $301.5M | $233.5M |
| Free cash flow | $1.35B | $641.3M | $124.0M | −$58.4M | $558.0M | $411.2M | $14.5M | $35.0M |
| Free cash flow margin | 27.7% | 17.8% | 4.4% | −2.6% | 29.1% | 44.5% | 2.8% | 10.8% |
| Capex / revenue | 9.1% | 5.0% | 11.9% | 19.2% | 5.3% | 12.2% | 16.7% | 20.3% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||||
| Net income | −$185.0M | −$248.0M | −$318.1M | −$257.5M | −$280.0M | −$216.0M | −$221.1M | −$240.4M | −$207.2M | −$271.9M | −$325.3M | −$278.8M |
| Depreciation & amortization | $65.0M | $61.0M | $63.0M | $54.8M | $54.0M | $54.0M | $51.3M | $68.6M | $52.8M | $53.7M | $54.5M | $53.6M |
| Stock-based compensation | $282.0M | $275.0M | $298.4M | $286.6M | $285.0M | $259.0M | $258.2M | $265.2M | $251.9M | $240.5M | $250.7M | $220.0M |
| Change in working capital | $136.0M | $529.0M | $546.6M | $451.4M | $120.0M | $336.0M | $87.8M | $141.7M | $43.0M | $208.5M | $156.6M | $110.4M |
| Other non-cash items | $20.0M | $12.0M | $17.1M | $11.1M | $20.0M | $11.0M | $8.2M | $12.4M | $11.0M | $8.1M | $6.9M | $7.5M |
| Cash from operating activities | $318.0M | $629.0M | $607.0M | $546.4M | $199.0M | $444.0M | $184.5M | $247.4M | $151.4M | $238.9M | $143.3M | $112.7M |
| Investing activities | ||||||||||||
| Capital expenditures | −$24.0M | −$33.0M | −$299.9M | −$103.6M | −$23.0M | −$17.0M | −$63.9M | −$29.4M | −$39.9M | −$47.9M | −$65.2M | −$53.2M |
| Investments (net) | −$113.0M | −$644.0M | −$119.6M | −$543.5M | −$394.4M | −$35.3M | −$84.5M | −$633.7M | −$55.3M | −$78.6M | −$51.1M | −$68.7M |
| Acquisitions & other investing | −$5.0M | $2.0M | $0 | $103.9M | $22.4M | $17.3M | $63.9M | $29.4M | $39.9M | $47.9M | $65.2M | $53.2M |
| Cash from investing activities | −$142.0M | −$675.0M | −$419.5M | −$543.1M | −$395.0M | −$35.0M | −$84.5M | −$633.7M | −$55.3M | −$78.6M | −$51.1M | −$68.7M |
| Financing activities | ||||||||||||
| Share repurchases & issuance (net) | −$375.0M | — | — | — | — | — | — | — | — | — | — | — |
| Net borrowing (repayment) | — | — | — | — | — | — | $0 | $0 | — | — | — | — |
| Shares issued | $3.0M | $31.0M | $4.0M | $20.8M | $27.2M | $36.5M | $13.1M | $19.9M | $4.6M | $32.7M | $5.9M | $16.2M |
| Other financing | $0 | $0 | $0 | −$308,000 | −$161,000 | $469,000 | $0 | $0 | $0 | −$4.5M | $0 | $0 |
| Cash from financing activities | −$372.0M | $31.0M | $4.0M | $20.5M | $27.0M | $37.0M | $13.1M | $19.9M | $4.6M | $28.2M | $5.9M | $16.2M |
| Summary | ||||||||||||
| Net change in cash | −$197.0M | −$17.0M | $188.5M | $21.8M | −$164.0M | $447.0M | $109.1M | −$363.8M | $100.0M | $187.9M | $98.4M | $59.8M |
| Cash at end of period | $991.0M | $1.19B | $1.21B | $1.02B | $995.0M | $1.16B | $711.7M | $602.6M | $966.4M | $866.4M | $678.5M | $580.0M |
| Free cash flow | $294.0M | $596.0M | $307.1M | $442.8M | $176.0M | $427.0M | $120.6M | $218.0M | $111.6M | $191.1M | $78.1M | $59.5M |
| Free cash flow margin | 20.0% | 41.3% | 21.7% | 32.6% | 16.3% | 41.3% | 12.2% | 23.7% | 12.5% | 23.8% | 10.4% | 8.3% |
| Capex / revenue | 1.6% | 2.3% | 21.2% | 7.6% | 2.1% | 1.6% | 6.5% | 3.2% | 4.5% | 6.0% | 8.7% | 7.5% |
Negative numbers are cash paid out. Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported; data from EODHD.
RBLX cash generation
In fiscal 2025 (ended December 31, 2025), Roblox generated $1.8 billion of cash from operations (up 118.5%) and spent $443.5 million on capital expenditures, leaving free cash flow of $1.4 billion, 27.7% of revenue. Cash and equivalents rose by $493.6 million over the year.
Related: RBLX income statement, RBLX balance sheet. See the RBLX stock overview for the latest quote and news.
RBLX cash flow FAQ
What is Roblox's free cash flow?
Roblox's free cash flow was $1.4 billion in fiscal 2025: $1.8 billion of operating cash flow minus $443.5 million of capital expenditures It was $641.3 million a year earlier..
How much cash does Roblox generate from operations?
Roblox generated $1.8 billion of cash from operating activities in fiscal 2025.
How much does Roblox spend on capital expenditures?
Roblox spent $443.5 million on capital expenditures in fiscal 2025, 9.1% of revenue, compared with $181.0 million the year before.