Moody’s Ratings has revised Roblox Corporation’s outlook to positive from stable, while affirming its Ba1 corporate family rating, citing the company’s improving credit profile and expectations of sustained growth over the next 12–18 months. The gaming and metaverse platform has experienced remarkable user growth, with daily active users climbing to 112 million in Q2 2025, up from 33 million in Q2 2020. As of Q2 2025, the company held $3.7 billion in net cash, including marketable securities, compared to $2 billion in 2023. Moody’s reported that leverage stood at 3.7x total debt to EBITDA (with adjustments for cash), but expects Roblox to reduce leverage to 2.0x–2.5x in the coming year. Moody’s affirmed Roblox’s SGL-1 speculative grade liquidity rating, reflecting strong liquidity of about $4.7 billion in cash and securities.