Roblox Corporation

Good afternoon, everyone. My name is Regina, and I will be your conference operator today. Welcome to Roblox's second quarter 2026 earnings conference call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you'd like to ask a question during that time, simply press star then the number one on your telephone keypad. We ask that you limit your initial question to one. I will now turn the call over to Jamie Morris, Roblox Head of Investor Relations. Jamie?

Good afternoon, everyone. Thank you for joining us to discuss our Q2 2026 results. With me today is Roblox's co-founder and CEO, David Baszucki, and our Chief Financial Officer, Naveen Chopra. Before we begin, I would like to remind you that our commentary today may include forward-looking statements which are subject to risks, uncertainties, and assumptions. It could cause actual results to differ materially from those described in our forward-looking statements. A description of these risks, uncertainties, and assumptions are included in our SEC filings, including our most recent reports on Form 10-K and Form 10-Q. You should not rely on our forward-looking statements as predictions of future events, and we disclaim any obligation to update these statements except as required by law. During this call, we will also discuss certain non-GAAP financial measures. Reconciliations between GAAP and non-GAAP metrics can be found in our shareholder letter and supplemental materials which are available on our investor relations website. With that, I'll turn the call over to Dave.

Thank you. Good afternoon and thank you for joining us. Today I'll start with a few remarks about the quarter and then I'll turn it over to Naveen to discuss results and guidance and then I'll conclude with some important updates about how we plan to achieve our long-term goals. We remain steadfast in our goal to capture 10% of the global gaming market and an even greater share of the US market. Against the backdrop of the incredible growth we delivered last year, in Q2 we delivered healthy year-over-year growth in users, hours, and cash flow. And while Booking's growth fell within our guidance range, it was below our internal goal, which we will discuss in detail on today's call. Before I hand it over to Naveen, I want to give some updates on the business. First, let's talk about safety. In the first part of this year, we made the decision to age check everyone on our platform and to limit chat only to those users who've age checked. We've made significant progress this quarter. And as a result, age check penetration has increased to 57% globally. And in the first countries where we rolled it out, Australia is approaching 80% and the US and UK are at 70%. With the under 18 segments, we're making enormous progress with the US under 18 at 75%. And in addition, of course, to our filters, industry leading safety, we don't allow image sharing in chat. And in conjunction with age check, we implemented age banded communication. We've also introduced new comms products. We'll share a bit more about that. And on the content side in June, we successfully rolled out age-based Roblox Kids and select accounts. We believe accurate age data amplifies our conviction in the long-term growth potential for the platform. On the discovery side, in the last few months, we shared with our community our strategic decision to focus our discovery algorithms directly on measured long-term retention. We have seen this impact monetization, primarily in the US under 13 cohort. And this has been exemplified by a lower frequency of impressions with games that emphasize short-term monetization rather than long-term retention. It's still early, but our data shows a positive lift in quality and the benefits of higher retention we believe outweigh the near-term impacts we're seeing as improved retention and engagement compound into future growth. I'm going to now turn it over to Naveen to address some specifics and then I'll be back to talk about our future plans.