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After delaying plans to go public, videogame company Roblox Corp. now says it will hold a direct listing of its shares on March 10, a move that comes at a time of heightened demand for at-home entertainment and online social experiences.

San Mateo, Calif.-based Roblox originally planned an initial public offering last year but held off after company officials decided that the strong trading debuts of Airbnb Inc. and DoorDash Inc. made it too difficult to determine the right price for its shares.

In January, Roblox announced a change of course, saying it had opted for a direct listing. It also said it had raised more than a half-billion dollars at a valuation of $29.5 billion for the company, a sevenfold increase from a funding round less than a year earlier.

However, Roblox’s listing plans hit another snag earlier this month when the Securities and Exchange Commission requested changes to how it accounted for the sale of virtual currency called Robux. The company said those issues have since been addressed.

Roblox, founded in 2004, makes a free online platform with tens of millions of games. The company’s user base soared through the pandemic as stay-at-home orders meant more people spending time online. It counted nearly 33 million daily active users last year, up from about 18 million the year prior.

One of Roblox’s defining features is that it outsources game development to its players. Those players, mainly teens and preteens, in turn produce their own hits and earn a majority cut of the revenue their works generate.

Roblox is among a small number of companies such as Spotify Technology SA and Slack Technologies Inc. that have pursued direct listings to enter public markets. Direct listings allow companies to save a large chunk of money paid to investment banks in a traditional IPO, but they don’t raise any cash in the process. Roblox’s shares will trade on the New York Stock Exchange under the symbol RBLX.

With the listing Roblox is slated to become the latest videogame company to make its market debut within the past few months. Others include game-hardware maker Corsair Gaming Inc., game-software tool provider Unity Software Inc. and mobile-game developer Playtika Holding Corp.

Roblox, which plans to host a virtual investor day Friday, also disclosed its fourth-quarter and full-year earnings. The company said revenue grew 82% last year to $923.9 million, while bookings more than doubled to about $1.9 billion. Operating cash flow was $524 million last year, up from $99.2 million in 2019.

Still, Roblox isn’t profitable and said in its SEC filing that it posted a net loss of $253.3 million in 2020, up from $71 million in 2019, due to increased expenses in connection with its information-technology infrastructure, safety, sales and marketing and research and development.

Roblox also said in the filing that its chief executive, David Baszucki, will forgo any cash and equity compensation as of the company’s direct listing. Instead, Mr. Baszucki, who co-founded the company and remains its largest shareholder, will be eligible to earn long-term performance-based stock compensation that he intends to donate toward philanthropic purposes, the filing shows.

If Roblox’s stock is trading at $165 a share or higher two years after listing, Mr. Baszucki will get 750,000 restricted stock units, according to the filing. If shares trade at $375 or higher five years after the listing, he will receive two million restricted stock units.

Write to Sarah E. Needleman atsarah.needleman@wsj.com

Corrections & Amplifications
Roblox said its bookings more than doubled in 2020 to about $1.9 billion. An earlier version of this article incorrectly said net bookings, a metric that excludes deferrals, rose to this amount.