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Roblox
Roblox, the upcoming children’s gaming company, released an updated prospectus on Thursday showing that its revenue for the first three quarters of 2020 was higher than previously reported, while its net losses were lower .
Revenue in the first nine months of 2020 rose 70 percent to $ 613.9 million, the company said Thursday. In its previous prospectus, in mid-January, Roblox said revenue for the period increased 68 percent to $ 588.7 million. The revised net loss for this period was $ 194.5 million, down from $ 213.3 million, as previously reported.
The filing comes after Reuters reported in late January that the company has delayed its stock market debut as the SEC examines the company’s method of recognizing revenue through its digital currency. In the story, Reuters quoted a note sent to employees.
Roblox said it now expects its direct listing to take place in March, rather than February, as indicated in a previous filing. Roblox had originally planned to go public with a traditional IPO in December, but delayed its debut for the first time and moved to a direct list after Doordash and Airbnb priced their IPOs well below where they opened. stocks.
Roblox, which has one of the highest-grossing apps on Apple and Google devices, makes money by allowing its millions of users to buy a virtual currency called Robux, which can be used to dress up their avatar or advance in games.
The change in reporting changed Roblox’s financial position for each of the last 11 quarters, which are those covered in the prospectus.
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