![]() 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 was valued at just 4 billion in 2020. Notably, the reference price gave Roblox a valuation of around 30 billion in line with valuation achieved when it raised 520 million in new funding back in January. 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. The actual price was determined by the buy and sell orders from brokers ahead of the listing. 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. "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. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower ![]() Best Debt Consolidation Loans for Bad Credit ![]()
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