Group 1 - Roblox shares have more than tripled over the past year, but the stock is not receiving as much attention as others with similar returns, despite evolving into a strong business and management addressing concerns [1] - The company has seen strong growth, with bookings increasing by 51% year-over-year in the second quarter, and daily active users reaching 111.8 million, a 41% increase from the previous year [4] - Although Roblox is not profitable on a GAAP net income basis, it generates significant free cash flow, which grew by 58% year-over-year in the second quarter, and has recently achieved positive adjusted EBITDA [5] Group 2 - The growth opportunity for Roblox is substantial, with a goal of scaling to 1 billion active users and capturing 10% of global gaming revenue, which could imply targeted revenue of about $60 billion by 2030 [6] - Roblox has adjacent opportunities beyond gaming, including applying its technology to education and enhancing its content licensing platform, while also providing innovative tools for creators to boost engagement and monetization [7] - The current market cap of $94 billion may seem high, but if the company achieves its growth targets, the valuation could appear extremely cheap [8]