RBLX Roblox Corporation Class A Common Stock

NYSE · Media · View on SEC EDGAR ↗
$38.16
Price · Aug 19, 2026
Fundamentals as of Jul 30, 2026

About Roblox Corporation Class A Common Stock Company overview from Wikipedia

The Roblox Corporation is an American video game development company based in San Mateo, California. Founded in 2004 by David Baszucki and Erik Cassel, the company is the developer of Roblox, a game platform, which was released in 2006. As of December 31, 2024, the company employs over 2,400 people.

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The Roblox Corporation ( , ROH-bloks) is an American video game development company based in San Mateo, California. Founded in 2004 by David Baszucki and Erik Cassel, the company is the developer of Roblox, a game platform, which was released in 2006. As of December 31, 2024, the company employs over 2,400 people.

History

Roblox Corporation was founded by David Baszucki and Erik Cassel. Baszucki had previously founded Knowledge Revolution, an educational software company, in 1989. With him and Cassel, the company developed Interactive Physics, a 2D physics simulation released in the same year. Knowledge Revolution followed this up with Working Model, a software that simulated mechanical devices. The company was eventually purchased in December 1998 for US$20 million by MSC Software, where Baszucki and Cassel obtained senior positions. Baszucki was the company's vice president and general manager from 2000 until 2002, when he left MSC Software to establish Baszucki & Associates, an angel investment firm. He and Cassel founded Roblox Corporation in 2004. Working from an office in Menlo Park, California, they began preliminary work on the video game DynaBlocks, which was launched in a beta state later that year. The game's name was changed to Roblox in 2005, and the game was formally released on September 1, 2006.

Cassel died from cancer on February 11, 2013. In December 2013, Roblox Corporation had 68 employees, which it raised to 163 by December 2016. The company secured an $82 million investment in March 2017 through a round of funding led by Meritech Capital Partners and Index Ventures. Eyeing international expansion, Roblox Corporation established Roblox International and hired Chris Misner as its president in May 2018. Under Misner, Roblox was launched in Chinese (in partnership with Tencent), German, and French in 2019. By September 2018, Roblox Corporation had hired Dan Williams (previously of Dropbox) to move Roblox from a third-party cloud computing service to a proprietary one. In October 2018, the company acquired PacketZoom, a developer of mobile network optimization software. PacketZoom, including its employees, founder, and chief technology officer Chetan Ahuja, was merged into Roblox Corporation.

A "series G" funding round in February 2020, led by Andreessen Horowitz, raised $150 million for Roblox Corporation and valued the company at $4 billion. By October 2020, Roblox Corporation had begun planning to become a public company, evaluating whether to perform a regular initial public offering (IPO) or use the less common method of a direct listing. Later that month, the company filed with the United States Securities and Exchange Commission (SEC) to prepare an IPO worth $1 billion, looking to be listed on the New York Stock Exchange (NYSE) with the ticker symbol "RBLX". By this time, the company had more than 830 full-time employees and 1,700 "trust and safety agents". The company acquired Loom.ai, a company that creates 3D avatars from photographs, in December 2020. In January 2021, Roblox Corporation announced that it would pursue a direct listing instead of an IPO. The SEC had also requested that Roblox Corporation change how it reports the sales of its virtual currency, Robux. In the same month, Altimeter Capital and Dragoneer Investment Group led a "series H" round of funding that valued the company at $29.5 billion. The NYSE approved the direct listing of Roblox Corporation's class A shares by February 2021. The shares began trading on March 10 that year, with the initial buys giving the company an estimated $41.9 billion valuation. In August 2021, Roblox Corporation acquired the online communication platforms Bash Video and Guilded, paying $90 million in cash and stock for the latter.

In March 2023, Roblox and Guidewire Software agreed to switch office buildings under sublease agreements, with Roblox moving to the former Guidewire building at Bay Meadows, with 180,000 ft2 (17,000 m2) of office space, and Guidewire moving to the former 80,000 ft2 (7,400 m2) Roblox building near the Franklin Templeton campus. In July 2023, Roblox Corporation rolled out a "Roblox Partner Program" with seven initial developers partnered to create playable Roblox experiences for brands interested in advertising through Roblox's platform as a medium.

In August 2023, Roblox unveiled plans to create an in-game career center, where players can turn up for events, podcasts, and conversations with actual employees. A month later, Roblox laid off 30 employees in its talent acquisition, citing a slowdown in hiring.

Reception

Accolades

Roblox Corporation has been ranked on Pocket Gamer.biz's top lists of mobile game developers, placing sixth in 2018, eighth in 2019, and sixth in 2020. Fortune featured it as one of the best small and medium-sized workplaces in the San Francisco Bay Area, placing it sixteenth in 2019 and fortieth in 2021. In 2016 and 2017, Inc. ranked Roblox Corporation on its "Inc. 5000" list of fastest-growing private companies in the United States. In 2020, Fast Company regarded it as the ninth-most innovative company in the world, as well as the most innovative in the gaming sector.

Criticism

On August 19, 2021, the YouTube channel People Make Games released the results of their investigation into the Roblox Corporation. In their video report, they allege the company exploits young video game developers by taking an outsized share (75.5%) of the revenue made from games on their platform. In a discussion with Axios, Roblox chief product officer (CPO) Manuel Bronstein responded by saying that Roblox intends to give more money to its community developers.

After the report's publication, Roblox asked People Make Games to retract the video. Instead, they released a follow-up video report which further outlined several child safety issues they felt were present in Roblox.

Legal disputes

In June 2016, Cinemark Theatres filed a lawsuit against Roblox Corporation over trademark infringement. The plaintiff cited several user-created games within Roblox that recreated Cinemark locations, including the trademarked branding.

In February 2018, YouTuber Kerstin Hoffmann, known as Keisyo, claimed that Roblox Corporation owed her $150,000 because the company had stopped her from converting her 42 million Robux balance into real-world money for no given reason. In response, Roblox Corporation stated that she could not transfer her Robux because she had earned them through "fraudulent activities".

In May 2021, an unnamed litigant filed a class-action lawsuit against Roblox Corporation, accusing the company of ripping off players with bogus purchases. Stating "The company's decision to sell first and 'moderate' later has obvious monetary benefit for Roblox, by the time defendant has deleted items from the Avatar Shop and users' inventories, it has already taken its 30% commission from the sale." Roblox Corporation said that they review all content submitted by developers through a multi-step review process before it appears on the platform. In May 2023, Roblox agreed to settle the suit for $10 million, in the form of a Robux refund to any users who bought an item before May 11, 2023.

In June 2021, the National Music Publishers' Association filed a lawsuit against Roblox Corporation for $200 million, accusing the company of infringing copyright laws. The complaint states, "Roblox actively preys on its impressionable user base and their desire for popular music, teaching children that pirating music is perfectly acceptable." Roblox Corporation responded to the lawsuit by contending that they "do not tolerate copyright infringement" and expressing an intent to contest the lawsuit.

On September 27, 2021, Roblox and NMPA announced they had reached an agreement that "settles claims filed by NMPA members [and] offers an industry-wide opt-in open to all eligible NMPA publishers," settling the lawsuit.

In November 2021, Roblox Corporation filed a $1.65 million lawsuit against YouTuber Benjamin Robert Simon, also known online as Ruben Sim. The complaint states a breach of contract, "cyber-bullying and harassing Roblox employees and executives" and "posting false and misleading terrorist threats" during the Roblox Developer Conference 2021 which led to it being temporarily shut down. On January 16, 2022, the lawsuit was settled by both parties which required Simon to pay $150,000 to Roblox Corporation. With the lawsuit settled, Simon is permanently banned from accessing Roblox. Due to it being resolved out of court, a legal precedent for other users who may evade IP bans or violate a game's terms of service was not established.

In October 2022, a lawsuit was filed by a parent in the San Francisco Superior Court. The lawsuit alleges that Roblox connected their daughter with online predators, who sexually exploited her, coercing her to send sexually explicit photos to them on Discord and Snapchat, who were also named in the lawsuit.

In August 2023, a class-action lawsuit was brought against Roblox Corporation. The lawsuit alleges that Roblox profited off minors when they bought Robux to participate in third-party gambling rings, violating the RICO act.

Schlep controversy and lawsuit

In August 2025, Roblox Corporation issued a cease-and-desist letter to YouTuber Schlep, prominent for conducting sting operations against alleged online predators via the platform. Roblox Corporation's letter stated that the activities of Schlep and other vigilante streamers were a violation of the platform's terms of service, and created an unsafe environment for users. Concurrent with the legal notice, Roblox terminated all accounts associated with Schlep and his group, and IP-banned him from the platform. This has also prompted multiple Roblox-affiliated content creators of the Roblox Video Stars Program to leave as protest. Following the controversy, Roblox Corporation's stock price fell by over 11%, reflecting investor concerns. Schlep later announced that he is planning to countersue Roblox.

The company's actions were met with major backlash from many online communities who viewed Schlep's actions as necessary for community policing. The situation escalated significantly days later and included calls for the CEO to resign and a petition by U.S. representative Ro Khanna. Shortly after, Indonesia said that it began considering blocking Roblox in their country, and Qatar fully blocked Roblox. On August 14, Louisiana Attorney General Liz Murrill filed a child protection lawsuit against Roblox Corporation. The suit alleged that by actively shutting down independent efforts to expose potential dangers on its platform, Roblox was failing in its duty to protect underage users from harm. Roblox responded to the lawsuit on August 15.

Lobbying and political influence

In 2025, Roblox was among donors who funded the White House's East Wing demolition and planned building of a ballroom.

Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗

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RBLX Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

Price
$38.16
Market Cap
$27.03B
P/E (TTM)
-24.8
EPS (TTM)
$-1.54
Revenue (TTM)
$4.89B
Div Yield
ROE
-345.8%
Debt/Equity
2.6
52W Range
$34 – $142

RBLX Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view

10-Year Performance Revenue, net income, margins and EPS trends

Revenue & Net Income $4.89B
7-point trend, +862.0%
2019-12-31 2025-12-31
EPS $-1.54
7-point trend, -250.0%
2019-12-31 2025-12-31
Free Cash Flow $1.36B
5-point trend, +139.5%
2021-12-31 2025-12-31
Margins -21.8%

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric
5Y trend
RBLX
Peer Median
P/E (TTM)
5-point trend, +50.5%
-24.8
31.0
P/S (TTM)
5-point trend, -62.7%
5.5
4.5
P/B
5-point trend, +40.8%
68.5
5.9
EV / EBITDA
5-point trend, +61.9%
-20.3
Price / FCF
5-point trend, -60.4%
19.9

Profitability Gross, operating and net margins; ROE, ROA, ROIC

Metric
5Y trend
RBLX
Peer Median
Operating Margin
5-point trend, +2.3%
-25.2%
Net Profit Margin
5-point trend, +15.0%
-21.8%
-17.9%
ROA
5-point trend, +17.0%
-12.7%
-12.1%
ROE
5-point trend, -16.9%
-345.8%
-12.0%
ROIC
5-point trend, -180.3%
-88.2%

Financial Health Debt, liquidity, solvency — balance sheet strength

Metric
5Y trend
RBLX
Peer Median
Debt / Equity
5-point trend, +51.3%
2.6
15.7
Current Ratio
5-point trend, -44.8%
1.0
1.1
Quick Ratio
5-point trend, -49.5%
0.8

Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR

Metric
5Y trend
RBLX
Peer Median
Revenue YoY
5-point trend, +154.8%
35.8%
Revenue CAGR 3Y
5-point trend, +154.8%
30.0%
Revenue CAGR 5Y
5-point trend, +154.8%
39.6%

Per Share Metrics EPS, book value per share, cash flow per share, dividend per share

Metric
5Y trend
RBLX
Peer Median
EPS (Diluted)
5-point trend, -58.8%
$-1.54

Capital Efficiency Asset turnover, inventory turnover, receivables turnover

Metric
5Y trend
RBLX
Peer Median

RBLX Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

BUY 43 analysts
  • Strong Buy 6 14.0%
  • Buy 19 44.2%
  • Hold 16 37.2%
  • Sell 1 2.3%
  • Strong Sell 1 2.3%

12-Month Price Target

34 analysts · 2026-08-17
Median target $47.00 +23.2%
Mean target $49.44 +29.6%

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

Avg Surprise
0.08%
Period EPS Actual EPS Est Surprise
June 30, 2026 $-0.26 $-0.35 0.09%
March 31, 2026 $-0.27 $-0.42 0.15%
Dec. 31, 2025 $-0.45 $-0.49 0.04%
Sept. 30, 2025 $-0.37 $-0.50 0.13%
June 30, 2025 $-0.41 $-0.38 -0.03%
March 31, 2025 $-0.32 $-0.41 0.09%

Peer comparison (GICS sub-industry) Key metrics vs sector peers

Ticker Market Cap P/E Rev YoY Net Margin ROE Gross Margin
RBLX $57.40B -52.6 35.8% -21.8% -345.8%
TTWO $36.62B -121.9 18.2% -4.5% -8.6% 57.2%
MRDN 21.0%
MYPS
SNAL -2.1 -3.8%
MSGM 2.2 30.0% 61.3% 190.5% 81.5%
GXAI $8M -1.9 47901.7% -201.8% -26.2%

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

Income Statement 16
Annual Income Statement data for RBLX
Metric Trend 2025202420232022202120202019
Revenue 7-point trend, +862.0% $4.89B $3.60B $2.80B $2.23B $1.92B $924M $508M
Cost of Revenue 7-point trend, +776.2% $1.07B $801M $649M $548M $497M $240M $122M
R&D Expense 7-point trend, +1363.9% $1.57B $1.44B $1.25B $873M $533M $201M $107M
SG&A Expense 7-point trend, +1283.0% $580M $408M $390M $297M $303M $97M $42M
Operating Expenses 7-point trend, +946.9% $6.12B $4.67B $4.06B $3.15B $2.41B $1.19B $585M
Operating Income 7-point trend, -1512.2% $-1.23B $-1.06B $-1.26B $-924M $-495M $-266M $-76M
Interest Expense 5-point trend, +40707000.00 · · $41M $40M $7M $0 $0
Interest Income 5-point trend, +219041.3% $202M $180M $142M $39M $92.0K · ·
Pretax Income 7-point trend, -1402.0% $-1.07B $-936M $-1.16B $-931M $-504M $-264M $-71M
Income Tax 7-point trend, +39822.2% $4M $4M $454.0K $4M $-320.0K $-7M $9.0K
Net Income 7-point trend, -1400.8% $-1.07B $-935M $-1.15B $-924M $-492M $-253M $-71M
EPS (Basic) 7-point trend, -250.0% $-1.54 $-1.44 $-1.87 $-1.55 $-0.97 $-1.39 $-0.44
EPS (Diluted) 7-point trend, -250.0% $-1.54 $-1.44 $-1.87 $-1.55 $-0.97 $-1.39 $-0.44
Shares (Basic) 7-point trend, +322.9% 689,612,000 647,482,000 616,445,000 595,559,000 505,858,000 182,108,000 163,051,000
Shares (Diluted) 7-point trend, +322.9% 689,612,000 647,482,000 616,445,000 595,559,000 505,858,000 182,108,000 163,051,000
EBITDA 5-point trend, -148.9% $-1.23B $-1.06B $-1.26B $-924M $-495M · ·
Balance Sheet 28
Annual Balance Sheet data for RBLX
Metric Trend 2025202420232022202120202019
Cash & Equivalents 7-point trend, +299.7% $1.21B $712M $678M $2.98B $3.00B $894M $301M
Short-term Investments 4-point trend, +1850000000.00 $1.85B $1.70B $1.51B $0 · · ·
Receivables 6-point trend, +264.8% $901M $615M $506M $379M $307M $247M ·
Prepaid Expense 6-point trend, +314.9% $109M $75M $75M $62M $32M $26M ·
Other Current Assets 6-point trend, +26.9% $11M $8M $11M $10M $4M $9M ·
Current Assets 6-point trend, +243.9% $4.90B $3.73B $3.28B $3.84B $3.75B $1.42B ·
PP&E (Net) 6-point trend, +328.7% $885M $660M $695M $592M $271M $206M ·
PP&E (Gross) 6-point trend, +429.4% $1.57B $1.25B $1.14B $859M $425M $296M ·
Accum. Depreciation 6-point trend, +660.3% $684M $587M $443M $267M $154M $90M ·
Goodwill 6-point trend, +140.1% $143M $142M $142M $134M $118M $60M ·
Intangibles 6-point trend, -57.5% $18M $34M $53M $55M $60M $42M ·
Other Non-current Assets 6-point trend, +1240.1% $21M $14M $10M $4M $3M $2M ·
Total Assets 6-point trend, +417.2% $9.56B $7.18B $6.17B $5.38B $4.56B $1.85B ·
Accounts Payable 6-point trend, +441.1% $65M $43M $60M $71M $64M $12M ·
Accrued Liabilities 6-point trend, +505.6% $396M $276M $271M $236M $181M $65M ·
Short-term Debt 2-point trend, +15000000.00 $15M $0 · · · · ·
Current Liabilities 6-point trend, +317.2% $5.13B $3.66B $3.05B $2.48B $2.17B $1.23B ·
Capital Leases 6-point trend, +643000000.00 $643M $670M $647M $495M $195M $0 ·
Other Non-current Liabilities · · · · · $22M ·
Total Liabilities 6-point trend, +429.1% $9.18B $6.97B $6.10B $5.07B $3.97B $1.74B ·
Long-term Debt 5-point trend, -11.7% $1.17B $1.21B $1.25B $1.29B $1.33B · ·
Total Debt 5-point trend, +2.0% $1.01B $1.01B $1.00B $989M $988M · ·
Common Stock 6-point trend, -100.0% $0 $62.0K $61.0K $59.0K $58.0K $20.0K ·
Retained Earnings 6-point trend, -928.1% $-5.06B $-4.00B $-3.06B $-1.91B $-984M $-492M ·
AOCI 6-point trend, +18788.9% $17M $-4M $2M $671.0K $62.0K $90.0K ·
Stockholders' Equity 6-point trend, +256.1% $394M $221M $76M $306M $585M $-252M ·
Liabilities + Equity 6-point trend, +417.2% $9.56B $7.18B $6.17B $5.38B $4.56B $1.85B ·
Shares Outstanding 6-point trend, +251.8% 708,359,000 666,419,000 631,221,000 604,674,000 585,878,000 201,327,000 ·
Cash Flow 16
Annual Cash Flow data for RBLX
Metric Trend 2025202420232022202120202019
D&A 7-point trend, +716.3% $226M $226M $208M $130M $76M $44M $28M
Stock-based Comp 7-point trend, +6302.4% $1.13B $1.02B $868M $589M $342M $79M $18M
Deferred Tax 7-point trend, -1340000.00 $-1M $-584.0K $-96.0K $-579.0K $-998.0K $-7M $0
Amort. of Intangibles 7-point trend, +18400000.00 $18M $19M $19M $16M $11M $1M $0
Operating Cash Flow 7-point trend, +1711.1% $1.80B $822M $458M $369M $659M $524M $99M
CapEx 7-point trend, +429.6% $441M $180M $321M $426M $93M $104M $83M
Investing Cash Flow 7-point trend, -1551.4% $-1.39B $-852M $-2.83B $-441M $-147M $-97M $-84M
Debt Issued 4-point trend, +0.00 · · · $0 $990M $0 $0
Net Debt Issued 2-point trend, -100.0% · · · $0 $990M · ·
Stock Issued 7-point trend, +2744.7% $89M $70M $53M $46M $76M $15M $3M
Net Stock Activity 5-point trend, +16.2% $89M $70M $53M $46M $76M · ·
Financing Cash Flow 7-point trend, +66.7% $89M $66M $67M $44M $1.60B $165M $53M
Net Change in Cash 7-point trend, +626.2% $494M $33M $-2.30B $-27M $2.11B $592M $68M
Taxes Paid 3-point trend, -0.9% $3M $1M $3M · · · ·
Free Cash Flow 5-point trend, +139.5% $1.36B $643M $138M $-57M $566M · ·
Levered FCF 3-point trend, -82.7% · · $97M $-97M $559M · ·
Profitability 7
Annual Profitability data for RBLX
Metric Trend 2025202420232022202120202019
Operating Margin 5-point trend, +2.3% -25.2% -29.5% -45.0% -41.5% -25.8% · ·
Net Margin 5-point trend, +15.0% -21.8% -26.0% -41.1% -41.5% -25.6% · ·
Pretax Margin 5-point trend, +16.8% -21.8% -26.0% -41.4% -41.8% -26.2% · ·
EBITDA Margin 5-point trend, +2.3% -25.2% -29.5% -45.0% -41.5% -25.8% · ·
ROA 5-point trend, +17.0% -12.7% -14.0% -20.0% -18.6% -15.3% · ·
ROE 5-point trend, -16.9% -345.8% -628.3% -602.6% -207.5% -295.8% · ·
ROIC 5-point trend, -180.3% -88.2% -87.0% -116.5% -71.6% -31.5% · ·
Liquidity & Solvency 5
Annual Liquidity & Solvency data for RBLX
Metric Trend 2025202420232022202120202019
Current Ratio 5-point trend, -44.8% 1.0 1.0 1.1 1.5 1.7 · ·
Quick Ratio 5-point trend, -49.5% 0.8 0.8 0.9 1.4 1.5 · ·
Debt / Equity 5-point trend, +51.3% 2.6 4.5 13.2 3.2 1.7 · ·
LT Debt / Equity 5-point trend, +49.1% 2.5 4.5 13.2 3.2 1.7 · ·
Interest Coverage 3-point trend, +56.3% · · -30.9 -23.2 -70.7 · ·
Efficiency 2
Annual Efficiency data for RBLX
Metric Trend 2025202420232022202120202019
Asset Turnover 5-point trend, -2.4% 0.6 0.5 0.5 0.4 0.6 · ·
Receivables Turnover 5-point trend, -6.8% 6.5 6.4 6.3 6.5 6.9 · ·
Per Share 5
Annual Per Share data for RBLX
Metric Trend 2025202420232022202120202019
Book Value / Share 5-point trend, -44.2% $0.56 $0.33 $0.12 $0.51 $1.00 · ·
Revenue / Share 5-point trend, +86.9% $7.09 $5.56 $4.54 $3.74 $3.79 · ·
Cash Flow / Share 5-point trend, +99.9% $2.60 $1.27 $0.74 $0.62 $1.30 · ·
Cash / Share 5-point trend, -66.8% $1.70 $1.07 $1.07 $4.92 $5.13 · ·
EPS (TTM) 5-point trend, -58.8% $-1.54 $-1.44 $-1.87 $-1.55 $-0.97 · ·
Growth Rates 3
Annual Growth Rates data for RBLX
Metric Trend 2025202420232022202120202019
Revenue YoY 5-point trend, -66.8% 35.8% 28.7% 25.8% 15.9% 107.7% · ·
Revenue CAGR 3Y 3-point trend, -32.8% 30.0% 23.4% 44.7% · · · ·
Revenue CAGR 5Y 39.6% · · · · · ·
Valuation (TTM) 14
Annual Valuation (TTM) data for RBLX
Metric Trend 2025202420232022202120202019
Revenue TTM 5-point trend, +154.8% $4.89B $3.60B $2.80B $2.23B $1.92B · ·
Net Income TTM 5-point trend, -116.6% $-1.07B $-935M $-1.15B $-924M $-492M · ·
Market Cap 5-point trend, -5.0% $57.40B $38.56B $28.86B $17.21B $60.44B · ·
Enterprise Value 5-point trend, -5.3% $55.35B $37.16B $27.67B $15.22B $58.42B · ·
P/E 5-point trend, +50.5% -52.6 -40.2 -24.4 -18.4 -106.4 · ·
P/S 5-point trend, -62.7% 11.7 10.7 10.3 7.7 31.5 · ·
P/B 5-point trend, +40.8% 145.5 174.1 378.3 56.2 103.3 · ·
P / Tangible Book 4-point trend, +65.5% 245.7 845.5 · 147.1 148.5 · ·
P / Cash Flow 5-point trend, -65.2% 32.0 46.9 63.0 46.6 91.7 · ·
P / FCF 5-point trend, -60.4% 42.3 60.0 209.9 -302.6 106.8 · ·
EV / EBITDA 5-point trend, +61.9% -44.9 -34.9 -22.0 -16.5 -118.0 · ·
EV / FCF 5-point trend, -60.4% 40.8 57.8 201.2 -267.7 103.3 · ·
EV / Revenue 5-point trend, -62.8% 11.3 10.3 9.9 6.8 30.4 · ·
Earnings Yield 5-point trend, -102.1% -1.9% -2.5% -4.1% -5.5% -0.94% · ·

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

Income Statement
2025-12-312024-12-312023-12-312022-12-312021-12-31
Revenue $4.89B$3.60B$2.80B$2.23B$1.92B
Operating Margin % -25.2%-29.5%-45.0%-41.5%-25.8%
Net Income $-1.07B$-935M$-1.15B$-924M$-492M
Diluted EPS $-1.54$-1.44$-1.87$-1.55$-0.97
Balance Sheet
2025-12-312024-12-312023-12-312022-12-312021-12-31
Debt / Equity 2.64.513.23.21.7
Current Ratio 1.01.01.11.51.7
Quick Ratio 0.80.80.91.41.5
Cash Flow
2025-12-312024-12-312023-12-312022-12-312021-12-31
Free Cash Flow $1.36B$643M$138M$-57M$566M

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Institutional owners (13F) 918 filers · $27.1B total · As of June 30, 2026

Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.

Institutional activity — Q2 2026 vs prior quarter
New positions Exited positions Increased Decreased Net shares change
123 (-5 vs prior Q) 141 (-55 vs prior Q) 293 (-18 vs prior Q) 282 (-24 vs prior Q) +97.4M

Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.

Institution Value Shares % of tracked 13F Type
VANGUARD GROUP INC $4,684,771,895 57,815,277 17.26% Shares
FMR LLC $3,340,584,717 61,430,392 12.31% Shares
VANGUARD PORTFOLIO MANAGEMENT LLC $1,720,399,885 31,636,629 6.34% Shares
VANGUARD CAPITAL MANAGEMENT LLC $1,587,683,591 29,196,094 5.85% Shares
Capital World Investors $1,234,930,130 22,709,293 4.55% Shares
Capital International Investors $874,758,020 16,086,049 3.22% Shares
IEQ CAPITAL, LLC $848,870,820 15,609,982 3.13% Shares
STATE STREET CORP $807,695,971 14,852,813 2.98% Shares
TWO SIGMA INVESTMENTS, LP $731,337,533 13,448,649 2.70% Shares
SRS Investment Management, LLC $710,389,976 13,063,442 2.62% Shares
Linonia Partnership LP $655,452,255 12,053,186 2.42% Shares
GEODE CAPITAL MANAGEMENT, LLC $575,815,036 10,619,912 2.12% Shares
TWO SIGMA ADVISERS, LP $527,273,635 6,507,141 1.94% Shares
Temasek Holdings (Private) Ltd $422,954,589 7,777,760 1.56% Shares
RENAISSANCE TECHNOLOGIES LLC $370,548,714 6,814,063 1.37% Shares
BAILLIE GIFFORD & CO $365,285,143 6,717,270 1.35% Shares
ARK Investment Management LLC $351,615,103 6,465,890 1.30% Shares
NORGES BANK $278,333,100 5,118,299 1.03% Shares
GOLDMAN SACHS GROUP INC $266,226,213 4,895,664 0.98% Shares
Sumitomo Mitsui Trust Group, Inc. $252,478,455 4,642,855 0.93% Shares
VANGUARD FIDUCIARY TRUST CO $234,146,848 4,305,753 0.86% Shares
JANE STREET GROUP, LLC $210,858,450 3,877,500 0.78% Call option
BNP PARIBAS FINANCIAL MARKETS $202,581,433 3,725,293 0.75% Shares
Amova Asset Management Americas, Inc. $185,964,251 3,419,089 0.69% Shares
WORLDQUANT MILLENNIUM ADVISORS LLC $184,779,597 3,397,933 0.68% Shares
ValueAct Holdings, L.P. $171,156,754 3,147,421 0.63% Shares
Contour Asset Management LLC $159,875,514 2,939,969 0.59% Shares
Slate Path Capital LP $149,343,794 2,746,300 0.55% Shares
BANK OF AMERICA CORP /DE/ $137,667,267 2,531,579 0.51% Shares
CHARLES SCHWAB INVESTMENT MANAGEMENT INC $134,541,612 2,474,101 0.50% Shares
JANE STREET GROUP, LLC $117,629,378 2,163,100 0.43% Put option
D. E. Shaw & Co., Inc. $116,319,092 2,139,005 0.43% Shares
Assenagon Asset Management S.A. $102,984,300 1,893,790 0.38% Shares
JACOBS LEVY EQUITY MANAGEMENT, INC $102,830,840 1,890,968 0.38% Shares
Swiss National Bank $91,331,210 1,679,500 0.34% Shares
WELLINGTON MANAGEMENT GROUP LLP $80,978,726 1,489,127 0.30% Shares
Squarepoint Ops LLC $80,150,682 1,473,900 0.30% Call option
FIRST TRUST ADVISORS LP $77,864,757 1,431,864 0.29% Shares
Clearbridge Investments, LLC $76,230,692 1,401,815 0.28% Shares
MILLENNIUM MANAGEMENT LLC $72,956,752 1,341,610 0.27% Shares
Cubist Systematic Strategies, LLC $69,467,780 501,500 0.26% Call option
BlackRock, Inc. $68,831,431 1,265,749 0.25% Shares
National Pension Service $67,622,835 1,243,524 0.25% Shares
VANGUARD ASSET MANAGEMENT, Ltd $65,265,625 1,200,177 0.24% Shares
Mitsubishi UFJ Asset Management Co., Ltd. $63,835,377 1,173,876 0.24% Shares
AMERICAN CENTURY COMPANIES INC $61,629,289 1,133,308 0.23% Shares
Meritech Capital Associates V L.L.C. $58,601,356 1,077,627 0.22% Shares
CANADA PENSION PLAN INVESTMENT BOARD $57,134,293 1,050,649 0.21% Shares
WESTFIELD CAPITAL MANAGEMENT CO LP $53,607,921 985,802 0.20% Shares
CITADEL ADVISORS LLC $52,346,569 962,607 0.19% Shares
12 West Capital Management LP $51,661,000 950,000 0.19% Shares
CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM $51,126,394 903,932 0.19% Shares
MORGAN STANLEY $49,256,153 905,777 0.18% Shares
Quantinno Capital Management LP $48,064,833 883,869 0.18% Shares
Legal & General Group Plc $47,767,336 878,399 0.18% Shares
Walleye Trading LLC $46,641,726 857,700 0.17% Call option
GILDER GAGNON HOWE & CO LLC $45,775,779 841,776 0.17% Shares
MARSHALL WACE, LLP $44,265,538 814,004 0.16% Shares
D. E. Shaw & Co., Inc. $43,259,290 795,500 0.16% Put option
BANK OF NOVA SCOTIA $42,630,603 783,939 0.16% Shares
RHUMBLINE ADVISERS $42,119,042 774,533 0.16% Shares
Toroso Investments, LLC $42,054,570 519,000 0.15% Call option
California Public Employees Retirement System $41,646,923 765,850 0.15% Shares
Connor, Clark & Lunn Investment Management Ltd. $38,106,513 700,745 0.14% Shares
National Philanthropic Trust $36,307,677 667,666 0.13% Shares
Robeco Institutional Asset Management B.V. $35,567,785 654,060 0.13% Shares
Cubist Systematic Strategies, LLC $33,688,064 243,200 0.12% Put option
Kora Management LP $33,171,800 610,000 0.12% Shares
Susquehanna Portfolio Strategies, LLC $33,071,034 608,147 0.12% Shares
Jasper Ridge Partners, L.P. $32,207,153 592,261 0.12% Shares
ROYAL BANK OF CANADA $32,098,000 590,255 0.12% Shares
ALLIANCEBERNSTEIN L.P. $31,998,650 565,747 0.12% Shares
Erste Asset Management GmbH $30,831,918 567,389 0.11% Shares
DNB Asset Management AS $30,442,631 559,813 0.11% Shares
Man Group plc $30,357,254 558,243 0.11% Shares
Mitsubishi UFJ Trust & Banking Corp $29,385,157 540,367 0.11% Shares
STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM $29,358,185 539,871 0.11% Shares
Squarepoint Ops LLC $27,592,412 507,400 0.10% Put option
Grace & Mercy Foundation, Inc. $27,548,908 506,600 0.10% Shares
USS Investment Management Ltd $27,502,221 505,602 0.10% Shares
AVIVA PLC $27,084,938 498,068 0.10% Shares
DIMENSIONAL FUND ADVISORS LP $25,633,646 471,380 0.09% Shares
BARCLAYS PLC $25,310,357 465,435 0.09% Shares
Trajan Wealth LLC $24,945,737 458,730 0.09% Shares
Ardmore Road Asset Management LP $24,471,000 450,000 0.09% Shares
Toroso Investments, LLC $24,434,678 301,551 0.09% Shares
IMC-Chicago, LLC $23,756,338 436,858 0.09% Shares
GOLDMAN SACHS GROUP INC $23,541,102 432,900 0.09% Put option
Candlestick Capital Management LP $23,398,798 168,920 0.09% Shares
MILLENNIUM MANAGEMENT LLC $22,214,230 408,500 0.08% Put option
CAPITAL INTERNATIONAL SARL $22,192,369 408,098 0.08% Shares
Contrarius Group Holdings Ltd $21,986,704 404,316 0.08% Shares
SCOPUS ASSET MANAGEMENT, L.P. $21,752,000 400,000 0.08% Put option
EXCHANGE TRADED CONCEPTS, LLC $21,401,684 393,558 0.08% Shares
READYSTATE ASSET MANAGEMENT LP $20,512,190 377,201 0.08% Shares
Accredited Investors Inc. $20,478,095 376,574 0.08% Shares
SYON CAPITAL LLC $19,951,424 366,889 0.07% Shares
VICTORY CAPITAL MANAGEMENT INC $19,436,499 357,420 0.07% Shares
IQ EQ FUND MANAGEMENT (IRELAND) Ltd $19,081,996 350,901 0.07% Shares
CIBC Private Wealth Group LLC $19,025,306 137,347 0.07% Shares

Company insiders 25 insiders · 2 officers · 0 directors

Insider Role Last activity Shares owned Buys 12m Sells 12m Net 12m
Amy Marie Rawlings Chief Accounting Officer July 14, 2026 A 73,806 0 14 $-1,350,447
Mark Reinstra Chief Legal Off. & Corp. Sec. July 6, 2026 S 422,248 0 26 $-13,724,778
Han Kim 10% owner Nov. 27, 2023 S 3,284,862 0 0 $0
Hodong Nam 10% owner Nov. 14, 2023 G 2,987,505 0 0 $0
Altos Ventures Management Inc. 10% owner Aug. 11, 2023 J 0 0 0 $0
Altos Ventures IV Reserve Fund, L.P. 10% owner Nov. 19, 2021 S 613,286 0 0 $0
Anthony P Lee Aug. 10, 2026 G 306,768 0 24 $-8,100,912
Gregory Baszucki Aug. 4, 2026 S 1,269,502 0 32 $-5,227,836
Christopher Carvalho May 28, 2026 A 1,112,098 0 0 $0
Dennis M Durkin May 28, 2026 A 8,709 0 0 $0
Gina Mastantuono May 27, 2026 J 19,557 2 2 $161
Jason Kilar May 27, 2026 J 20,223 0 0 $0
Sean Jack Buckley May 22, 2026 S 97,141 0 3 $-476,434
Matthew D Kaufman May 20, 2026 S 349,964 0 26 $-12,642,131
David Baszucki May 20, 2026 S 852,214 0 35 $-42,752,943
Andrea L Wong Feb. 24, 2026 S 44,702 0 1 $-37,248
Arvind Chakravarthy Feb. 20, 2026 S 177,589 0 16 $-12,369,723
Manuel Bronstein Aug. 20, 2025 S 443,222 0 4 $-2,739,008
Naveen K. Chopra July 15, 2025 A 356,460 0 0 $0
Michael Guthrie June 5, 2025 M 492,266 0 0 $0
Daniel Sturman May 20, 2024 J 469,320 0 0 $0
Barbara Messing Nov. 21, 2023 S 234,241 0 0 $0
Craig Donato May 24, 2023 S 1,227,229 0 0 $0
Deepika Gupta May 23, 2022 S 21,443 0 0 $0
Brett Tolley Feb. 22, 2022 S 7,654 0 0 $0

Insiders from SEC Form 3/4/5 filings; net = open-market P/S only

ETF ownership Held by 110 ETFs

Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.

Fund Weight Units As of Source
IVRS · iShares Trust 4.55% 10,122 SH Aug. 8, 2026 Daily
HERO · Global X Funds 3.95% 54,092 NS May 31, 2026 N-PORT
ARKK · ARK ETF Trust 3.07% 3,607,025 NS April 30, 2026 N-PORT
ARKW · ARK ETF Trust 3.04% 918,541 NS April 30, 2026 N-PORT
ARKF · ARK ETF Trust 2.71% 406,066 NS April 30, 2026 N-PORT
ODDS · Pacer Funds Trust 2.70% 1,919 NS April 30, 2026 N-PORT
OND · ProShares Trust 2.65% 1,987 NS May 31, 2026 N-PORT
VOX · VANGUARD WORLD FUND 1.95% 2,139,490 SH Aug. 8, 2026 Daily
FDND · First Trust Exchange-Traded Fund IV 1.71% 2,974 NS April 30, 2026 N-PORT
FCOM · FIDELITY COVINGTON TRUST 1.68% 534,540 NS April 30, 2026 N-PORT
FDCF · Fidelity Covington Trust 1.64% 37,201 NS May 31, 2026 N-PORT
ABOT · Abacus FCF ETF Trust 1.57% 1,254 NS April 30, 2026 N-PORT
GGME · Invesco Exchange-Traded Fund Trust 1.48% 18,259 SH Aug. 8, 2026 Daily
VERS · ProShares Trust 1.47% 2,266 NS May 31, 2026 N-PORT
WEBL · Direxion Shares ETF Trust 1.12% 22,730 NS April 30, 2026 N-PORT
OGIG · ALPS ETF Trust 1.10% 26,950 NS May 31, 2026 N-PORT
VOT · VANGUARD INDEX FUNDS 0.76% 4,887,914 SH Aug. 8, 2026 Daily
CGMM · Capital Group Equity ETF Trust I 0.75% 443,369 NS May 31, 2026 N-PORT
PNQI · Invesco Exchange-Traded Fund Trust 0.70% 100,451 SH Aug. 8, 2026 Daily
IWP · iShares Trust 0.65% 3,670,865 SH Aug. 8, 2026 Daily
GTEK · Goldman Sachs ETF Trust 0.59% 30,620 NS May 31, 2026 N-PORT
TRFM · ETF Series Solutions 0.47% 13,273 NS April 30, 2026 N-PORT
VXF · VANGUARD INDEX FUNDS 0.41% 7,707,050 SH Aug. 8, 2026 Daily
GXPC · Global X Funds 0.40% 7,966 NS May 31, 2026 N-PORT
IYC · iShares Trust 0.38% 126,668 SH Aug. 8, 2026 Daily
AVMV · AMERICAN CENTURY ETF TRUST 0.36% 46,987 NS May 31, 2026 N-PORT
ILDR · First Trust Exchange-Traded Fund VI… 0.34% 20,738 NS May 31, 2026 N-PORT
VO · VANGUARD INDEX FUNDS 0.33% 13,826,590 SH Aug. 8, 2026 Daily
IMCG · iShares Trust 0.31% 349,885 SH Aug. 8, 2026 Daily
CGGR · Capital Group Growth ETF 0.25% 1,291,330 NS May 31, 2026 N-PORT
GSEW · Goldman Sachs ETF Trust 0.21% 79,123 NS May 31, 2026 N-PORT
JMOM · J.P. Morgan Exchange-Traded Fund Tr… 0.20% 79,995 NS April 30, 2026 N-PORT
FFLG · FIDELITY COVINGTON TRUST 0.20% 21,187 NS April 30, 2026 N-PORT
PEVC · Pacer Funds Trust 0.17% 69 NS April 30, 2026 N-PORT
IWR · iShares Trust 0.16% 2,585,825 SH Aug. 8, 2026 Daily
AVMC · AMERICAN CENTURY ETF TRUST 0.16% 14,062 NS May 31, 2026 N-PORT
FBCG · FIDELITY COVINGTON TRUST 0.16% 179,406 NS April 30, 2026 N-PORT
IMCB · iShares Trust 0.16% 74,215 SH Aug. 8, 2026 Daily
SIZE · iShares Trust 0.15% 17,756 SH Aug. 8, 2026 Daily
EUSA · iShares, Inc. 0.14% 76,289 SH Aug. 8, 2026 Daily
CRTC · DBX ETF Trust 0.14% 3,957 NS May 31, 2026 N-PORT
VEGN · ETF Series Solutions 0.12% 3,460 NS April 30, 2026 N-PORT
PRFZ · Invesco Exchange-Traded Fund Trust 0.12% 88,441 SH Aug. 8, 2026 Daily
GGUS · Goldman Sachs ETF Trust 0.11% 10,934 NS May 31, 2026 N-PORT
TMFC · RBB Fund, Inc. 0.11% 50,000 NS May 31, 2026 N-PORT
VUG · VANGUARD INDEX FUNDS 0.11% 8,013,986 SH Aug. 8, 2026 Daily
IGM · iShares Trust 0.11% 318,134 SH Aug. 8, 2026 Daily
SCHV · SCHWAB STRATEGIC TRUST 0.10% 332,597 NS May 31, 2026 N-PORT
VONG · VANGUARD SCOTTSDALE FUNDS 0.10% 999,953 SH Aug. 8, 2026 Daily
GEW · EA Series Trust 0.09% 2,541 NS May 29, 2026 N-PORT