S&P Global ups rating on Roblox to 'BBB-'

[Roblox Developer Conference 2019]
Ian Tuttle/Getty Images Entertainment

S&P Global on Wednesday upgraded online gaming platform Roblox's (NYSE:RBLX [https://seekingalpha.com/symbol/RBLX]) credit and debt ratings to "BBB-" from "BB+."

The ratings firm said the company continues to benefit from strong growth trends across its platform and user base, driving robust gross bookings and free operating cash flow, which it expects will be sustained.

S&P's positive outlook implies the view that the company will keep benefitting from strong user growth, engagement, and monetization and continue to grow gross bookings and free operating cash flow. It also reflects the view that the company will maintain a conservative financial policy and strong balance sheet with a net cash position.

"While the pace of the broader video game industry's expansion materially slowed after 2021, Roblox has more than doubled its DAUs to 111 million as of June 30, 2025, which is up from 50 million as of the end of 2021," S&P Global said in its report. "The company has achieved this expansion by diversifying its user base both geographically and by age cohort."

They expect the company will raise its gross bookings to $5.9B in 2025 and $7.3B in 2026, while its FOCF will improve to $1.2B this year and to $1.4B next year.

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