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Roblox’s valuation rose to $29.5 billion in January, compared to just $4 billion the year prior.

The company’s net loss was also updated to $194.5 million from $213.3 million.

Previous numbers indicated revenue was up 68% to $588.7 million. Coinbase shares closed at 328.28 in their Nasdaq debut on Wednesday, giving the cryptocurrency exchange an initial market cap of 85.8 billion on a fully diluted basis.

Updated numbers show revenue through September rose to $613.9 million, up 70% from a year earlier.

“We have identified a material weakness in our internal control over financial reporting which resulted in our restatement of our financial statement for the years ended Decemand Decemand the nine months ended September 30, 2020,” the filing said. The changes were also applied retroactively. Now, the company says its direct listing will take place in March after the SEC scrutinized its method of recognizing revenue.īy adopting the SEC’s requests, Roblox changed how it reports “consumable” game items, differentiating them from “durable” items. Roblox said in its SEC filing that it experienced rapid growth from the second quarter of 2020 onwards due in part to the Covid-19 pandemic as users have been spending more time online because of shelter-in-place policies. Roblox then changed course in January, stating plans to go public in February through a direct listing, after raising $520 million in Series H funding. In December, the video game company announced it was pushing back its go-public date in order to raise its IPO price.

Roblox is finally on its way to a direct listing after months of delays.