The company said that the financial restatement was related to how and when it books Robux purchases as revenue instead of leaving it as deferred revenue. Roblox, which has one of the top-grossing apps on Apple and Google devices, makes money by allowing its millions of users to buy virtual currency called Robux that can be used to dress up their avatar or advance in games.
Roblox had originally planned to go public through a traditional IPO in December, but it delayed its debut a first time and changed to a direct listing after Doordash and Airbnb priced their IPOs well below where the stocks opened. Roblox said that it now expects its direct listing to take place in March, rather than February as it indicated in a prior filing. In the story, Reuters cited a memo sent to employees. The disclosure comes after Reuters reported in late January that the company postponed its stock market debut because the SEC was scrutinizing the company's method of recognizing revenue through its digital currency. Measurement firm Sensor Tower said that Roblox saw 159.6 million installs globally from across the App Store and Google Play in 2020, up 43 from a year. "We have identified a material weakness in our internal control over financial reporting which resulted in our restatement of our financial statements for the years ended Decemand Decemand the nine months ended September 30, 2020," the filing said. Its valuation at that time was 4 billion. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
0 kommentar(er)
