PART I - FINANCIAL INFORMATION [Item 1. Financial Statements (Unaudited)](index=5&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) This section presents the unaudited condensed consolidated financial statements for the quarter ended September 30, 2022, detailing financial position, operations, cash flows, and related accounting notes Balance Sheet Highlights | Financial Statement | Key Metric | September 30, 2022 | December 31, 2021 | | :--- | :--- | :--- | :--- | | **Balance Sheet** | Total Assets | $772.4 million | $1,022.8 million | | | Total Liabilities | $340.1 million | $399.1 million | | | Total Stockholders' Equity | $432.3 million | $623.7 million | Income Statement Highlights (Q3) | Income Statement (Q3) | Metric | Three Months Ended Sep 30, 2022 | Three Months Ended Sep 30, 2021 | | :--- | :--- | :--- | :--- | | | Revenue | $60.3 million | $102.1 million | | | Loss from Operations | $(75.3) million | $(81.6) million | | | Net (Loss) / Income | $(78.5) million | $50.8 million | | | Diluted EPS | $(0.19) | $(0.16) | Cash Flow Statement Highlights | Cash Flow Statement | Metric | Nine Months Ended Sep 30, 2022 | Nine Months Ended Sep 30, 2021 | | :--- | :--- | :--- | :--- | | | Net cash used in operating activities | $(166.8) million | $(103.3) million | | | Net cash provided by (used in) investing activities | $176.0 million | $(140.8) million | | | Net cash (used in) / provided by financing activities | $(10.7) million | $521.7 million | - In Q3 2022, the company recorded a non-cash intangible asset impairment charge of **$47.6 million**, primarily related to developed technology and customer relationships from the Aarki acquisition[96](index=96&type=chunk) [Notes to the Condensed Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20the%20Condensed%20Consolidated%20Financial%20Statements) These notes detail accounting policies and significant financial events, including revenue concentration, intangible asset impairment, restructuring charges, and accelerated stock-based compensation - Revenue is **highly concentrated**, with games from two developer partners each accounting for **40%** of the Company's revenue from Monetization Services in Q3 2022[41](index=41&type=chunk) - The company recorded restructuring charges of **$1.9 million** in Q3 2022 and **$4.5 million** for the nine months ended September 30, 2022, primarily for severance and benefits related to workforce reductions[99](index=99&type=chunk) - On September 1, 2022, the Company redeemed **$10.5 million** of its senior secured notes, resulting in a gain on extinguishment of debt of **$2.6 million**[120](index=120&type=chunk) - On March 14, 2022, the CEO Performance Award was canceled, resulting in the recognition of the remaining unrecognized compensation cost of **$65.1 million** during the first quarter of 2022[153](index=153&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=33&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses a strategic shift towards profitable growth, resulting in a 41% Q3 2022 revenue decline, a $47.6 million impairment, and improved Adjusted EBITDA, with sufficient liquidity for the next year - The company is **shifting its focus from top-line growth to driving higher efficiency** from marketing investments and **achieving profitability**[182](index=182&type=chunk)[206](index=206&type=chunk) Key Operating Metrics | Key Operating Metric | Q3 2022 | Q3 2021 | YoY Change | | :--- | :--- | :--- | :--- | | Gross Marketplace Volume (GMV) | $360.4 million | $610.9 million | -41% | | Paying Monthly Active Users (PMAUs) | 320 thousand | 509 thousand | -37% | | Monthly Active Users (MAUs) | 1,665 thousand | 2,985 thousand | -44% | - In Q3 2022, the company recorded a non-cash intangible asset impairment charge of **$47.6 million** related to the Aarki acquisition, due to a revised financial outlook and slower-than-expected realization of cost-saving synergies[184](index=184&type=chunk)[201](index=201&type=chunk) Adjusted EBITDA Reconciliation | Reconciliation to Adjusted EBITDA (in thousands) | Q3 2022 | Q3 2021 | | :--- | :--- | :--- | | Net (loss) / income | $(78,547) | $50,781 | | Adjustments (Stock-based comp, D&A, Impairment, etc.) | $63,146 | $(92,522) | | **Adjusted EBITDA** | **$(15,401)** | **$(41,741)** | [Results of Operations](index=38&type=section&id=Results%20of%20Operations) Q3 2022 revenue declined 41% to $60.3 million due to reduced marketing spend, while operating expenses decreased across R&D, Sales & Marketing, and G&A, alongside a $47.6 million impairment charge - Q3 2022 revenue decreased by **$41.8 million (41%)** YoY, attributed to lower user retention and significant decreases in user acquisition spend (down **$36.6 million**) and engagement marketing spend (down **$26.2 million**)[205](index=205&type=chunk) - Sales and marketing costs for Q3 2022 decreased by **55%** YoY to **$51.8 million**, driven by a **66%** decrease in User Acquisition (UA) marketing and a **52%** decrease in engagement marketing[216](index=216&type=chunk) - General and administrative costs for the nine months ended Sep 30, 2022 increased **38%** YoY, primarily due to a **$56.1 million** increase in stock-based compensation, which includes a **$65.1 million** charge from the cancellation of the CEO's performance stock units[221](index=221&type=chunk) [Liquidity and Capital Resources](index=45&type=section&id=Liquidity%20and%20Capital%20Resources) As of September 30, 2022, liquidity included $239.9 million in cash and $318.4 million in marketable securities, with $166.8 million net cash used in operations, deemed sufficient for the next twelve months - As of September 30, 2022, principal sources of liquidity were **$239.9 million** in cash and cash equivalents and **$318.4 million** in marketable securities[247](index=247&type=chunk) - Net cash used in operating activities was **$166.8 million** for the nine months ended September 30, 2022, an increase from **$103.3 million** in the prior year period[253](index=253&type=chunk)[255](index=255&type=chunk) - The company may continue to retire or purchase its outstanding debt, having redeemed **$10.5 million** of its 2021 senior secured notes on September 1, 2022[250](index=250&type=chunk)[251](index=251&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=48&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's primary market risk is interest rate exposure on its cash and marketable securities, though a 10% rate change is not expected to be material, and foreign currency risk is immaterial - The company is exposed to interest rate risk on its cash, cash equivalents (**$239.9 million**), and marketable securities (**$318.4 million**)[273](index=273&type=chunk) - Management believes an immediate **10%** change in interest rates would not materially affect the fair market value of its investments due to their low-risk profile[273](index=273&type=chunk) - Foreign currency risk was **not material** for the nine months ended September 30, 2022 and 2021[274](index=274&type=chunk) [Item 4. Controls and Procedures](index=49&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were not effective as of September 30, 2022, due to material weaknesses in IT general controls and management review controls, with ongoing remediation efforts - Management concluded that disclosure controls and procedures were **not effective** as of September 30, 2022[276](index=276&type=chunk) - **Material weaknesses persist** in two areas: (1) Information technology general controls (ITGCs) over access and program changes, and (2) Controls designed to properly evaluate certain accounting processes involving management review[279](index=279&type=chunk) - **Remediation efforts are ongoing**, including designing and implementing improved processes for user access, program changes, and reinforcing management review control training[280](index=280&type=chunk) PART II - OTHER INFORMATION [Item 1. Legal Proceedings](index=51&type=section&id=Item%201.%20Legal%20Proceedings) This section refers to Note 11, detailing a legal proceeding where a jury verdict of $11.6 million was reduced to $4.35 million, with both parties appealing - For information on legal proceedings, the report refers to Note 11, "Contingencies and Commitments"[287](index=287&type=chunk) [Item 1A. Risk Factors](index=51&type=section&id=Item%201A.%20Risk%20Factors) There have been no material changes to the risk factors previously disclosed in the Annual Report on Form 10-K for the fiscal year ended December 31, 2021 - There have been **no material changes** from the risk factors disclosed in the Annual Report on Form 10-K for the year ended December 31, 2021[288](index=288&type=chunk) [Other Part II Items (Items 2, 3, 4, 5, 6)](index=51&type=section&id=Other%20Part%20II%20Items%20(Items%202%2C%203%2C%204%2C%205%2C%206)) This section confirms no unregistered equity sales, no defaults on senior securities, no mine safety disclosures, and lists exhibits filed with the report - Item 2: **No unregistered sales of equity securities** and use of proceeds[289](index=289&type=chunk) - Item 3: **No defaults upon senior securities**[290](index=290&type=chunk) - Item 6: **A list of exhibits filed with the report is provided**[293](index=293&type=chunk)

Skillz Inc. (NYSE:SKLZ) Q3 2022 Earnings Conference Call November 2, 2022 5:30 PM ET Company Participants Andrew Paradise – Chief Executive Officer Casey Chafkin – Chief Revenue Officer Jason Roswig – President and Chief Financial Officer Conference Call Participants Jason Tilchen – Canaccord Genuity Clark Lampen – BTIG Operator Thank you for joining us today for Skillz Third Quarter 2022 Earnings Call. I will now turn the call over to [indiscernible] to cover the safe harbor. Taylor? Unidentified Company ...

Skillz, Inc. (NYSE:SKLZ) Q2 2022 Earnings Conference Call August 3, 2022 5:00 PM ET Company Participants Charlotte Edelman - General Counsel & Corporate Secretary Andrew Paradise - Co-Founder, CEO, President & Chairman Casey Chafkin - Co-founder, Chief Revenue Officer, Treasurer & Director Ian Lee - CFO Conference Call Participants Jason Bazinet - Citigroup Andrew Crum - Stifel, Nicolaus & Company Bradley Erickson - RBC Capital Markets Jason Tilchen - Canaccord Genuity William Lampen - BTIG Edward Alter - J ...

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, 2022 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) (State or other jurisdict ...

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, 2022 Registrant's telephone number, including area code 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 ...

Financial Data and Key Metrics Changes - Revenue increased by 12% year-over-year to $93 million [11] - Paying monthly active users rose by 22% year-over-year to 569,000 users [11] - Revenue after engagement marketing grew by 8% year-over-year to $51 million [11] - Adjusted EBITDA improved by $17 million compared to Q4 2021 [11] Business Line Data and Key Metrics Changes - The company focused on improving marketing efficiency, resulting in reduced spending while maintaining revenue after engagement marketing [12] - Product innovations were unveiled, including a private beta of a hot gaming product and a system-wide chat feature to enhance user engagement [13] Market Data and Key Metrics Changes - The U.S. market remains the core focus, with over 95% of paying users based in the U.S. [23] - Approximately 60% of smartphones in the U.S. are Android, presenting a significant opportunity for user growth [23][24] Company Strategy and Development Direction - The company aims to transition to profitable growth, targeting a year-over-year revenue growth rate above 30% and an adjusted EBITDA margin better than negative 30% by the end of 2022 [10] - Continued investment in developers and content diversification is a priority, with partnerships established with UFC and NFL to create branded mobile games [14][43] Management's Comments on Operating Environment and Future Outlook - Management expressed a commitment to building revenue and increasing profitable growth through improved marketing efficiency and enhanced user engagement [15] - The future of interactive entertainment is viewed as a massive and fast-growing opportunity, with plans to pursue profitable growth while investing in exciting technologies [16] Other Important Information - The company is exploring the potential of cloud-based gaming, which could enhance user engagement and lower user acquisition costs [22] - Management is cautious about the impact of marketing spend reductions on paying users and average revenue per user (ARPU), noting that the product remains sticky [29][30] Q&A Session Summary Question: Engagement from users on Android versus iOS during cloud gaming testing - Management indicated that data collection is still in early stages, but they believe cloud gaming can increase lifetime value and lower user acquisition costs [22] Question: Impact of efficient marketing spend on paying users and ARPU - Initial reductions in marketing spend led to a slight decrease in paying monthly active users, but the product's stickiness helped maintain user numbers [29] Question: Timing for launches of new games with UFC and NFL - Developers gain access to IP without upfront payments, fostering innovation and interest in building content [50] - The timeline for NFL game launches is aligned with the kickoff for the next season [52] Question: Stock-based compensation figures for Q2 onward - A significant portion of Q1's stock-based compensation was a one-time expense, suggesting a lower run rate moving forward [54] Question: Efforts to optimize supply paths and improve DSP value - Management noted that buyers are focused on efficiency and return on ad spend, but no significant trend towards narrowing DSPs was observed [62] Question: Future features and partnerships to generate revenue - The company is focused on enhancing social features, competition formats, and reducing friction for developers to bring new games to market [92][94]

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, 2021 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. (NYSE:SKLZ) Q4 2021 Results Conference Call February 23, 2022 5:30 PM ET Company Participants Stefan Gerhard - Vice President, Finance Andrew Paradise - Chief Executive Officer Casey Chafkin - Chief Revenue Officer Ian Lee - Chief Financial Officer Conference Call Participants Michael Graham - Canaccord Drew Crum - Stifel Brad Erickson - RBC Operator Good evening. Thank you for attending today's Skillz Fourth Quarter 2021 Earnings Call. My name is Selena, and I will be your moderator. [Operator ...

Skillz Inc. (NYSE:SKLZ) Canaccord Genuity Digital Gaming Summit Conference Call November 30, 2021 1:30 PM ET Company Participants Andrew Paradise - Chief Executive Officer Conference Call Participants Michael Graham - Canaccord Genuity Michael Graham You're live. All right. Good afternoon everyone, Thank you for being a part of our Digital Gaming Summit; really pumped to have Skillz here this afternoon. We're joined by Andrew Paradise who's the Founder and CEO. Andrew, thank you so much for taking the time ...

(Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☐ For the transition period from ______to______ TABLE OF CONTENTS UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q Commission file number: 001-39243 SKILLZ INC. (Exact name of registrant as specified in its charter) (State or other juri ...