RBLX: Roblox's Surging Active Users: Alternative Data Signals Ahead of Q3 Earnings
Roblox's Dominance in 2025: A Look at 380 Million Monthly Active Users
Roblox is an online platform where people play and create games. Players can explore millions of user-made games, while developers use Roblox’s tools to build, share, and earn money from their own games.
“Roblox has more users than Playstation and XBOX Live”
Roblox (RBLX) has quietly outpaced traditional gaming giants in scale. With an estimated 380 million monthly active users (MAU) in 2025, the platform exceeds PlayStation Network’s 123 million and Xbox Live’s approximately 130 million. This cross-platform dominance, driven largely by mobile access (around 80% of usage), underscores why investors should monitor Roblox’s user metrics closely as indicators of future performance.
Alternative data, such as user engagement signals, offers investors a forward-looking edge beyond standard financials. Ahead of Roblox’s Q3 2025 earnings on October 30, we examine recent concurrent user trends and related metrics from Q2 (April-June) and Q3 (July-September) 2025. These provide insights into platform vitality without constituting investment advice.
Concurrent User Growth: A Key Engagement Proxy
Concurrent users (CCU) reflect real-time platform activity, often correlating with retention and monetization potential. In Q2 2025, average daily CCU stood at 12.39 million. By Q3, this climbed to 19.48 million, marking a 57% quarter-over-quarter increase and signaling accelerated momentum.
Q2 Average Concurrent Users Chart (12.39 million)
Q3 Average Daily Concurrent Users Chart (19.48 million)
Q4 to date Average Daily Concurrent Users Chart (18.16 million)
Early Q4 data shows sustained strength, with game-specific records like Steal a Brainrot at 25 million CCU. These figures highlight content-driven surges that could support higher bookings per user.
Supporting Metrics
Complementing CCU, estimated Q3 daily active users (DAU) reached 134 million, up 51% year-over-year from Q3 2024 analogs. Hours engaged totaled 27.4 billion in Q2, with Q3 trends suggesting continued expansion through popular titles exceeding 20 million CCU (Grow a Garden at 21-22 million). Developer ecosystem health remains robust, with top games distributing engagement broadly and over $1 billion in creator earnings from March 2024-2025 (31% YoY growth).
In addition, we are observing strong year-over-year growth in Roblox-related searches on Google and TikTok, which reaffirms the platform’s enduring popularity, particularly on TikTok, where such searches have surged by 480% YoY.
Key Risks
Despite positive signals, risks persist. Child safety concerns have drawn regulatory scrutiny, including commitments to enhanced protections in Australia by year-end and ongoing investigations in Europe. Bot inflation could distort user counts, potentially overestimating organic growth. Competition from platforms like Fortnite intensifies, while high stock-based compensation (e.g., $54 million in recent quarters) raises questions on adjusted profitability and management incentives.
Looking Ahead
As Q3 earnings approach on October 30th, these alternative metrics point to underlying strength in user scale. Investors may watch for confirmation in official DAU and engagement disclosures. Paradox Intelligence will track post-earnings developments.
This analysis is for informational purposes only and does not constitute financial, or investment advice. Readers should conduct their own research before making any investment decisions.
Really intersting analysis on the CCU growth. The 57% QoQ jump in concurrent users is pretty remarkable and suggests the platform is gaining traction beyond just seasonal spikes. I'm curious though how much of this growth is sustainable given the competiton from Fortnite and other platforms. The alternative data approach is refreshing, gives a more real time view of whats happening before the official earnings drop.