| Author | Message | ||
     Entrepreneur Kurra Bewarse Username: Entrepreneur Post Number: 3434 Registered: 05-2011 Rating: N/A |
Agree and no I am not buying Just watching!! IPO that stands out to us is Roblox (RBLX), which is going public via a NYSE direct listing on Wednesday morning. A direct listing means that there isn't an expected price range set by investment banks and that the IPO price is determined by investor demand on the day of the IPO. Some numbers: With 36.2 mln people connecting to the platform on a daily basis, RBLX is quite popular. It is also growing very quickly. For the nine months ended September 30, 2020, daily active users (DAUs) jumped by 81% to 31.1 mln. This growth was likely aided by the pandemic as gaming activity soared during lockdowns and social distancing rules. RBLX's impressive top-line growth should catch the attention of plenty of investors. For that nine month period, revenue was up 68% to $588.7 mln while bookings launched by 171% to $1.24 bln. Bookings are generally viewed as the main demand metric for game developers, so the triple digit growth here is a major positive for RBLX. Not surprisingly, the company isn't profitable, posing a net loss of ($203.2) mln over the first nine months of 2020. The lack of profitability is mitigated by the fact that the company generated $292.6 mln in free cash flow over the same period of time. |