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Online video game platform Roblox is expected to go public in March. Here's what we know, including how to buy in when the stock launches.
Monday, February 22: Roblox plans to begin trading March 10.
Friday, January 29: Roblox has reportedly postponed its highly anticipated direct listing after the US Securities and Exchange Commission scrutinized the way it reports revenues. The company had been poised to go public in February.
Friday, January 8: Roblox is expected to go public in February.
Thursday, January 7: Roblox completed a private funding round, raising $520 million. The round values Roblox at $29.5 billion. The company also announced that it plans to go public via a direct listing rather than a traditional IPO.
Monday, December 14: Roblox reportedly plans to postpone its IPO into 2021 after initially stating its intention to complete the offering by the end of 2020.
Thursday, November 19: Roblox filed with the SEC to go public on the New York Stock Exchange under the ticker symbol RBLX.
Thursday, November 12: Roblox is expected to make its filing public as early as next week, according to a CNBC report.
The gaming platform announced in January 2021 that it plans to go public via a direct listing rather than an initial public offering. The company intends to list on the New York Stock Exchange under the ticker symbol "RBLX." An independent valuation report in December 2020 valued the stock at close to $41.52 per share, but it's difficult to tell where the stock will trade when it does go public. Share prices are determined by the price at which employees and other shareholders are willing to sell and buyers are willing to pay.
In a direct listing, a company can go public without raising funds in an IPO. Additionally, investors can sell their shares without waiting for a lock-up period to expire.
Founded in 2004, Roblox offers a sweeping collection of online games coupled with a game creation system that allows users to program their own games. Amid the pandemic, Roblox has been particularly popular among US kids between the ages of 9 to 12, helping them host hangouts and virtual birthday parties during stay-at-home orders.
We'll update this page with more information as soon as it becomes available.
Once Roblox Corporation goes public, you'll need a brokerage account to invest. Consider opening a brokerage account today so you're ready as soon as the stock hits the market.
As a result of stay-at-home orders initiated by the COVID-19 pandemic and consumers seeking at-home entertainment options, Roblox has done well. According to Sensor Tower Store Intelligence, Roblox’s March 2020 revenue increased by 28% month-over-month to $69.8 million, followed by a 34% increase in April to $93.2 million. The momentum carried through to turn May 2020 into a record-breaking month for the company, yielding $102.9 million in global player spending.
The company also raised $520 million in a series H private placement in January 2021, a funding round that valued it at $29.5 billion.
The US accounts for approximately 66% of Roblox’s total revenue, but Great Britain and Canada are also big contributors. To date, the platform’s mobile app has been downloaded more than 380 million times across the Apple App Store and Google Play.
With the release of its S-1 filing, we had the opportunity to take a closer look at Roblox’s balance sheet. The company reported $349.8 million in revenue for the nine months ended September 30, 2019. For the same period in 2020, Roblox’s revenue rose to $588.6 million. Unfortunately, Roblox’s revenue isn’t the only thing on the rise. For the first three quarters of 2019, it reported a net loss of $46.3 million — a figure that more than quadrupled to $203.2 million in 2020.
Like many tech-oriented startups, Roblox isn’t profitable. And while its revenue appears to be on an upward trajectory, it continues to report sizable losses.
Roblox initially planned to go public in February, but the launch was delayed by several weeks, reportedly because of questions from the SEC over the way the company recognizes revenue from the sale of its proprietary Robux currency.
Players use Robux to purchase both consumable and durable goods in games. Roblox has been treating all revenue from Robux the same, but in a memo to Roblox employees, founder and CEO David Baszucki noted that the SEC wants the company to be more specific. The SEC, Baszucki said, expects the company to recognize revenue on consumables as they are consumed and revenue on durable goods over the life of the game user.
It's impossible to predict how any stock will perform — and IPOs can be particularly volatile. But evaluating the performance of companies like Roblox Corporation can be useful in determining how the market is performing and whether now is a good time to invest in this industry. Select a company to learn more about what they do and how their stock performs, including market capitalization, the price-to-earnings (P/E) ratio, price/earnings-to-growth (PEG) ratio and dividend yield. While this list includes a selection of the most well-known and popular stocks, it doesn't include every stock available.
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