Roblox was Preps For IPO

Roblox Amongst Us Coins Online game platform Roblox filed to go public on Thursday revealing explosive revenue growth but increasing losses as the COVID-19 pandemic boosted its business.

The company’s revenue jumped 68% to $588.7 million in the nine months ended Sept. 30. That’s up from a growth rate of 61% in the nine months ended Sept. 30 2019 and a 56% growth rate during the full 2019 fiscal year. Roblox’s recent sales boost came from increased user engagement: Its active daily user count surged 82% year-over-year to surpass 31 million in the first nine months of 2020.

The sources requested anonymity as the plans are private. Roblox declined to comment.In a direct listing no new shares are sold and underwriting banks do not weigh in on the pricing unlike in an IPO.By not selling new shares companies do not dilute the ownership stakes of existing shareholders Roblox Amongst Us Money and the public listing allows current investors to sell shares easily.

In July Roblox announced it had more than 150 million monthly active users on its platform. In gaming numbers that’s no joke. For comparison–the wildly popular Minecraft game has 126 million players each month as of May according to parent company Microsoft.

Still the company does “not expect these activity levels to be sustained and in future periods we expect growth rates for our revenue to decline and we may not experience any growth in bookings or our user base during periods where we are comparing against COVID-19 impacted periods (i.e. the three months ended March 31 2020 June 30 2020 and September 30 2020).”
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