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OPERATOR
Good morning, My name is Kate. Welcome to Roblox third quarter 2025 earnings conference call. All lines on mute. After the Speaker’s opening remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press Star. That will be the number one on your telephone keypad. If you would like to withdraw your question, press Star one again. Thank you. Stephanie Noteney. You may now begin your conference. Thanks, Kate Good morning everyone. Thank you for joining our Q and A session to discuss Roblox’s Q3 2025 results. With me today is Roblox co Founder and CEO David Baszucki and our Chief Financial Officer Naveen Chopra Chopra. Our shareholder letter, SEC filings, supplemental slides and a replay of today’s call can be found on our investor relations website. Our commentary today may include forward looking statements which are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those described in our forward looking statements. A description of these risks, uncertainties and assumptions are included in our SEC filings, including our most recent reports on Form 10K and Form 10Q. You should not rely on our forward looking statements as predictions of future events. We disclaim any obligation to update these statements except as required by law. During this call we will also discuss certain non GAAP financial measures. Reconciliations between GAAP and non GAAP metrics can be found in our shareholder letter and supplemental slides. With that, I’ll turn it over to Dave.
Dave Baszucki (Chief Executive Officer)
Thank you. Stephanie, Good morning and thank you for joining us today. A year ago at RDC we shared the goal of capturing 10% of the global gaming content market. We’d like to report that we’ve made tremendous progress. We estimate now that 3.2% of global gaming bookings or revenue is going through Roblox and that’s up from 2.3% last year. Our platform and our creator ecosystem is healthier than it has ever been. Similarly to Q2 in Q3 we saw strength both across the platform with both existing and new experiences on the platform. The number of experiences that have more than 10 million daily active users on the platform at some point during Q3 2025 hit seven and that includes a lot of experiences we’re all familiar with, as well as five that were created in the last 12 months. That’s Grow a Garden, Steal a Brain Rot, Brookhaven, 99 Nights in the Forest, Plants versus Brain Rot, Ink Game and Blox Roots. We believe the success on our platform continues to be driven by raw platform capabilities and performance. Continued improvements in discovery, continued improvements in our virtual economy and complementing that, the investments we’ve made in infrastructure, which supported multiple groundbreaking records over the last quarter, including a 45 million peak concurrency during the weekend in August. Let’s get into the financial results. In Q3 our DAUs hit 151.5 million. That’s up 70% year on year. This was growth really across all regions including US and Canada 32% up year on year. APAC up 108% year on year. And importantly, we see continued evolution of our age demo with 13 and over DAUs growing 89% year on year. Right now 2/3 of total DAUs are 13 and up. Ours had similar strength hitting 39.6 billion hours of engagement in Q3. That’s up 91% year on year. Strength across all regions US and Canada up 47% year on year. APAC hours of engagement up 127% year on year. Commensurate growth with 13 and up 107% year on year. 68% of our total hours are 13 and up. Q3 revenue was 1.36 billion, up 48% year on year. Q3 bookings was 1.92 billion, up 70% year on year. Once again strong growth across regions US and Canada bookings up 50% year on year. APAC bookings up 110% year on year. Some highlights Japan 125% India 146% Indonesia bookings up 804% year on year. Our monthly unique payers continues to be strong at 35.8 million, up 88% year on year. And in Q3 through DevEx we hit 427.9 million of DevEx up 85%. A new record. I want to highlight that DevEx, which is what our creators are earning on the platform, has grown 250% from the same period two years ago. We continue to have strong conviction for our long term vision and we’ll continue to be more diligent about investing in this innovation to support long term genre expansion and growth. We’ve talked about genre expansion a lot over the last year. I want to do a few highlights here. We have a lot of technology that showed at RDC this year that’s rolling out, including server authority and custom matchmaking which will make Roblox more resilient and powerful for competitive genres like shooters, sports and racing. We’ve already showcased avatar enhancement technology that is in the pipeline that we believe is going to really expand the look and feel of Roblox to higher fidelity and more lifelike avatars and continued focus in raw performance on the platform including tech like Harmony and Slim, which we believe is part of the future of high fidelity gaming and the ability of our creators to make experiences that can run both on low end 2 gig Android as well as really nice high end gaming PCs. On discovery we’ve continued really a commitment to transparency that we also believe is good for the company and we shared the notion that we’re sharing our discovery signals with our creators, making those transparent in their analytics dashboard and we’ve highlighted that we’re using playthrough rate 7 day play days per user 7 day intentional co play days so our creators can see exactly what we’re using to make recommendations. We continue to see Discovery highlight new hits, for example in Indonesia Fish it has become extremely popular and we believe our discovery system has helped promote that. I would also highlight our content ecosystem continues to be strong with what have now become perennial successes like Brookhaven, Adopt Me and Bloxroots which all continue to draw strong engagement and some of our hits from last year like Rivals and Dress to Impress continue to launch active and successful updates. Really important. At RDC we announced an 8.5% increase to the DEVEX rate. Creator earnings surpassed 1 billion in the first nine months of 2025. Also in support of our creator ecosystem we’ve launched our IP platform which we believe really is the future way to allow IP holders and creators to connect without all of the complexity of handcrafted individual one on one contractors or contracts and want to highlight IP owners like Mattel and Kodansha have joined that platform and we recently announced and launched Roblox Moments which we believe is an additional innovative discovery surface for our creators. Now in addition to all of this I want to make a couple highlights on some of the areas of tech we’ve been really working on before I hand over to Naveen first really Safety, which has always been a top priority for us and foundational to everything we do at Roblox. Just yesterday we announced a partnership with the aga, the Attorney General’s alliance on a Child Safety Coalition. Stay tuned. With this we believe there’s a wonderful opportunity to share and develop what we believe is going to be the industry standard in communication for social and mobile apps, including our commitment by the end of this year to use AI based facial age estimation to estimate the age of everyone on our platform and to use that to gate who uses communication technology and how root who can communicate with who even in addition to what we already do, which is filtering of all text and no image sharing on Roblox, we believe as new technology rolls out it allows us to harvest and use this technology for continued advancements in safety and civility. We’ve also released over 100 innovations this year in our safety and civility group, including an announcement that we’re going to be adopting IARC and International Age Rating Coalition rating over the next few quarters and we’ve raised our minimum age for restricted content to really the global standard of 18 years old. I want to highlight we do run stricter than typical industry policies on Roblox. We believe it’s an essential strategic investment to how we run the company and as we roll out facial age estimation, we really do believe this is going to add long term value creation for shareholders even if there are any short term from that rollout. On the AI side, we are now up to running over 400 AI systems inside the company. These are core within safety, discovery and creation, highlighting a few things that we’ve shipped so far. Our Cube 3D model which we shipped earlier, is really going to come to life over the next one to two quarters and as this goes live in multiplayer mode for everyone on the platform, we’ve also open sourced the Studio NCP server which is making Roblox Studio the ability to integrate as both a client and a server in complex AI based workflows. Behind the scenes, our safety model for PII continues to get better all the time and we shipped roguard for our safety of our LLM textgen tech in game. Stay tuned for a lot more generative AI. I want to highlight that in addition to AI for safety and discovery, there’s been a lot of chat about how much training data various people have access to within Roblox. Every day we are moving forward to capturing which is literally over 30,000 years of human interaction data and doing this in a PII compliant way. This is unique data data we have no intent of ever getting outside of our walls or selling that can really be used as we start to roll out our future vision of allowing people to play both with others as well as with NPCs and supporting unlimited creation in Roblox not just for our creators but for everyone. And that can mean per object, with clothing for the world you’re in, per game creation and ultimately with friends in real time while playing. Finally, 45 million concurrent users is a really big number and we supported this, really moving towards what we think is more and more an optimal mix of our own data centers, both core data centers, edge data centers and GPU installations on our own bare metal with bursting with our cloud partners. We did this in really a wonderful way by bursting over weekends for several hour slots. When we hit peak numbers, we’re going to continue to go down this route. We’re investing more and more in our own bare metal for scale. Core data centers give us load balancing and efficiency. Everyone in Brazil is happy because we added a new edge data center there to reduce latency. We’re going to continue doing that and we are more and more now building out our own native bare metal GPU capability, but coupling with our cloud partners, we’re going to make sizable improvements here. The big improvements we’ve seen in cost to serve may be harder to realize for the next few quarters, but this is all consistent with our long term focus. With all of this excitement about innovation, we of course we have a lot of initiatives we work on every day to enhance our platform. We focus on the details and with that we’re going to hand it I’m going to hand it over to Navin to complement my introduction.
Naveen Chopra (Chief Financial Officer)
Great. Thanks Dave. Good morning everybody. I’m going to try to keep my comments relatively brief so we can get to some questions. As Dave noted, the tremendous growth that we saw in the quarter was driven by this combination of big viral hits and underlying platform growth. And so with that in mind, I want to just share a few observations regarding overall platform health, if you will. Last quarter I highlighted the engagement growth that we were seeing in experiences outside of our top 10. Well, this quarter the growth and engagement for these experiences, again outside of the top 10, accelerated even further, from 47% in Q2 to 58% in Q3. That’s the engagement. And then on the monetization side, spending in that cohort ...
