User Engagement and Activity - For the nine months ended September 30, 2024, Skillz had over 0.8 million monthly active users (MAUs) and hosted an average of over 1.1 million daily tournaments, offering over $43.5 million in prizes each month[156]. - The number of paying monthly active users (PMAUs) for the three months ended September 30, 2024, was 121,000, down from 168,000 in the same period of 2023, a decrease of approximately 28%[161]. - The average GMV per paying monthly active user for the three months ended September 30, 2024, was $435.9, compared to $478.8 in the same period of 2023, a decline of approximately 8%[161]. - The average revenue per paying monthly active user (ARPPU) for the three months ended September 30, 2024, was $67.6, down from $72.3 in the same period of 2023, a decrease of approximately 10%[161]. - The average revenue per monthly active user (ARPU) for the three months ended September 30, 2024, was $9.7, compared to $11.7 in the same period of 2023, a decline of approximately 17%[161]. Financial Performance - Revenue decreased by $11.9 million, or 33%, to $24.6 million for the three months ended September 30, 2024, compared to $36.4 million for the same period in 2023, primarily due to a 19% decrease in monthly active users[182]. - Revenue decreased by $45.9 million, or 38%, to $75.1 million for the nine months ended September 30, 2024, primarily due to a 23% decrease in monthly active users[191]. - Skillz segment revenue decreased by $12.0 million, or 35.8%, to $21.5 million for the three months ended September 30, 2024, primarily due to a decrease in player base[211]. - Skillz Segment Revenue for the nine months ended September 30, 2024, was $66.6 million, a decrease of $43.2 million (39.3%) from $109.8 million in the same period of 2023, primarily due to a 23% decrease in monthly active users[218]. - Consolidated Revenue for the nine months ended September 30, 2024, was $75.1 million, a decrease of $45.9 million (37.9%) from $121.0 million in the same period of 2023[217]. Cost Management - Cost of revenue decreased by $0.3 million, or 9%, to $3.4 million for the three months ended September 30, 2024, driven by reductions in payment processing and customer support personnel costs[183]. - Research and development costs decreased by $3.1 million, or 40%, to $4.7 million for the three months ended September 30, 2024, primarily due to a $2.3 million reduction in employee-related costs[184]. - Sales and marketing costs decreased by $12.6 million, or 40%, to $19.3 million for the three months ended September 30, 2024, driven by decreases in UA and engagement marketing spend[186]. - General and administrative costs decreased by $6.2 million, or 26%, to $18.1 million for the three months ended September 30, 2024, primarily due to a $3.5 million decrease in legal fees[187]. - Research and development costs decreased by $11.1 million, or 45%, to $13.6 million, mainly due to an $8.9 million reduction in employee-related costs[193]. - Sales and marketing costs decreased by $38.4 million, or 39%, to $61.1 million, reflecting a strategic decision to prioritize profitability over revenue growth[194]. - General and administrative costs decreased by $19.7 million, or 25%, to $58.4 million, primarily due to a decrease in legal fees and reliance on contractors[195]. Loss and Improvement - The loss from operations improved by $10.4 million, or 33%, to $(20.99) million for the three months ended September 30, 2024, compared to $(31.43) million for the same period in 2023[181]. - Net loss decreased by $12.4 million, or 37%, to $(21.12) million for the three months ended September 30, 2024, from $(33.55) million in the same period in 2023[181]. - Net loss for the nine months ended September 30, 2024, was $21.8 million, a decrease of $64.1 million or 75% compared to the net loss of $85.8 million in 2023[190]. - Total segment adjusted EBITDA loss improved by $4.6 million, or 25.0%, to $(13.9) million for the three months ended September 30, 2024[211]. - Total Segment Adjusted EBITDA loss for the nine months ended September 30, 2024, was $44.2 million, an improvement of $13.6 million (23.6%) from a loss of $57.8 million in the same period of 2023[217]. Cash and Debt Management - As of September 30, 2024, the company had cash and cash equivalents of $301.4 million, primarily invested in money market funds and marketable securities[221]. - The company has long-term debt of $129.7 million from senior secured notes due December 15, 2026, with compliance to all covenants as of September 30, 2024[223]. - Interest income was $0.2 million for the three months ended September 30, 2024, compared to interest expense of $2.3 million for the same period in 2023, reflecting a decrease of $2.5 million in interest expense due to debt repurchase[188]. - Interest income was $0.7 million for the nine months ended September 30, 2024, compared to interest expense of $7.5 million in the same period of 2023[198]. - The company reported a net cash used in financing activities of $12.8 million for the nine months ended September 30, 2024, primarily due to common stock repurchases[229]. Strategic Focus - Engagement marketing expenses decreased, which may lead to lower revenue as paying users may not receive end-user incentives[162]. - Skillz's financial model aims to drive higher player engagement and retention, monetizing users at higher rates than traditional models[165]. - The company is focusing on optimizing user acquisition marketing spend to improve efficiency and drive organic traffic[164]. - User acquisition (UA) marketing spend decreased by 43%, and engagement marketing spend decreased by 40%, reflecting a strategic shift to prioritize profitability over revenue growth[182]. - The company plans to continue investing in personnel and external consultants to address identified material weaknesses in internal controls over financial reporting[245]. - The company may use proceeds from its senior secured notes for potential acquisitions of other companies, products, or technologies in the future[223]. - The gain from litigation settlement was $46.0 million, related to the settlement with AviaGames[196].

Skillz Inc. (NYSE:SKLZ) Q3 2024 Earnings Conference Call November 7, 2024 10:00 AM ET Company Participants Richard Land - JCIR Andrew Paradise - Co-Founder & Chief Executive Officer Gaetano Franceschi - Chief Financial Officer Conference Call Participants Ed Alter - Jefferies Operator Good afternoon and welcome you all to the Skillz Inc. 2024 Third Quarter Earnings Results Call. My name is Nadia and I'll be moderating your call today. [Operator Instructions]. I would now like to pass the conference call ove ...

Group 1 - Skillz Inc. reported a quarterly loss of $1.20 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.98, and an improvement from a loss of $1.57 per share a year ago, indicating an earnings surprise of -22.45% [1] - The company posted revenues of $24.56 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 10.16%, and down from $36.43 million in the same quarter last year [2] - Skillz shares have declined approximately 10.7% year-to-date, contrasting with the S&P 500's gain of 24.3% [3] Group 2 - The earnings outlook for Skillz is mixed, with the current consensus EPS estimate for the upcoming quarter at -$0.89 on revenues of $29.28 million, and for the current fiscal year at -$1.99 on revenues of $107.15 million [7] - The Zacks Industry Rank indicates that the Gaming industry is currently in the bottom 36% of over 250 Zacks industries, suggesting potential challenges for stock performance [8] - The company has surpassed consensus EPS estimates two times over the last four quarters, but has not beaten consensus revenue estimates during the same period [2]

Skillz Announces Third Quarter 2024 Results LAS VEGAS--(BUSINESS WIRE), November 7, 2024-- Skillz Inc. (NYSE: SKLZ) ("Skillz" or the "Company"), the leading mobile games platform bringing fair competition to players worldwide, today reported unaudited financial results for the third quarter ended September 30, 2024. Third Quarter Financial Update (Unaudited): • Revenue of $24.6 million. • Net loss of $21.1 million. • Adjusted EBITDA of $(13.9) million. • Paying monthly active users (PMAU) of 121,000. • Aver ...

SAN DIEGO, Sept. 24, 2024 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announced an update in the lawsuit that was pending for certain investors who purchased NYSE: SKLZ shares. Investors who purchased shares Flying Eagle Acquisition Corp. (formerly NYSE: FEAC) that later became Skillz Inc. (NYSE: SKLZ) shares have also certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554. Skillz Inc became a public company in December 2020 by ...

SAN DIEGO, Sept. 17, 2024 /PRNewswire/ -- The Shareholders Foundation, Inc. announces an update in the lawsuit that was pending for certain investors who purchased shares of Skillz Inc. (NYSE: SKLZ). Investors who purchased shares Flying Eagle Acquisition Corp. (formerlyNYSE: FEAC) that then became Skillz Inc. (NYSE: SKLZ) shares have also certain options and should contact the Shareholders Foundation at [email protected] or call +1(858) 779 - 1554. Skillz Inc became a public company in December 2020 by mer ...

TABLE OF CONTENTS UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______to______ Commission file number: 001-39243 SKILLZ INC. (Exact name of registrant as specified in its charter) Delaware 84-4478274 (Stat ...

TABLE OF CONTENTS UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______to______ Commission file number: 001-39243 SKILLZ INC. (Exact name of registrant as specified in its charter) Delaware 84-4478274 (Sta ...

TABLE OF CONTENTS UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______to______ Commission file number: 001-39243 SKILLZ INC. (Exact name of registrant as specified in its charter) Delaware 84-4478274 (State or ...

Skillz Inc. (SKLZ) could be a solid choice for investors given its recent upgrade to a Zacks Rank #2 (Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change. A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years. Individual investors ...