See the section titled “Management’s Discussion and Analysis of Financial Condition and Result" Proceeds from the sale of virtual items are initially recorded in deferred revenue and recognized as revenues over the estimated period of time the virtual items are available on the Roblox Platform (estimated to be the average lifetime of a paying user) or as the virtual items are consumed. Substantially all of our bookings are generated from sales of virtual items on the Roblox Platform. "Bookings represent the sales activity in a given period without giving effect to certain non-cash adjustments. That helped narrow Roblox’s net loss for the year’s first nine months to $194.5M vs. The company recorded $613.9M of revenues for 2020’s first three quarters, up from a previously disclosed $588.7M. Roblox eventually restated its finances, which turned out to look even better than originally reported. Some designers reportedly make six-figure incomes selling virtual clothes or other items for players’ avatars. The SEC was said to have had concerns about how Roblox recognized revenue from “Robux,” a virtual currency that consumers can use in the company’s metaverse and even exchange for real money.
Securities and Exchange Commission reportedly raised questions about its finances. RBLX next planned a direct listing for February, but delayed that after the U.S. That helped investors, but left money on the table that the listing companies didn’t get. Roblox had originally expected to stage an initial public offering around December, but backed off after IPOs from Airbnb and DoorDash enjoyed huge first-day pops. For example, Roblox last year held its first virtual concert with rapper Lil Nas X. It also hosts an elaborate “metaverse,” or alternative reality, that’s expanded far beyond just game-playing. Roblox’s popular platform allows people to play millions of user-created games or make their own. RBLX plans to list 198.9 million of its shares through the direct listing, according to its latest S-1 filing with the U.S.
Hot videogame stock Roblox ( RBLX) said in a filing Monday that it will list directly on the New York Stock Exchange “on or about” March 10.
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