Roblox Corp Earnings Per Share Disclosure
Year ended December 31, | |||||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||
Basic and diluted net loss per share | |||||||||||||||||
Numerator | |||||||||||||||||
Consolidated net loss | $ | (1,071,618) | $ | (940,614) | $ | (1,158,937) | |||||||||||
Less: net loss attributable to noncontrolling interest | (6,561) | (5,230) | (6,991) | ||||||||||||||
Net loss attributable to common stockholders | $ | (1,065,057) | $ | (935,384) | $ | (1,151,946) | |||||||||||
Denominator | |||||||||||||||||
Weighted-average common shares used in computing net loss per share attributable to common stockholders, basic and diluted | 689,612 | 647,482 | 616,445 | ||||||||||||||
Net loss per share attributable to common stockholders, basic and diluted | $ | (1.54) | $ | (1.44) | $ | (1.87) | |||||||||||
As of December 31, | |||||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||
Stock options outstanding | 9,178 | 27,458 | 40,159 | ||||||||||||||
RSUs outstanding | 24,524 | 34,941 | 39,846 | ||||||||||||||
| 2020 ESPP | 1,382 | 1,634 | 3,347 | ||||||||||||||
Other awards(1) and warrants outstanding or unreleased | 2,229 | 740 | 422 | ||||||||||||||
Total | 37,313 | 64,773 | 83,774 | ||||||||||||||
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.