skillz(US:SKLZ)2025-03-13 20:04Revenue Performance - Revenue for Q4 2024 was $20.4 million, a decrease from $31.1 million in Q4 2023, representing a decline of 34.7%[6] - Full year 2024 revenue totaled $95.5 million, down from $152.1 million in 2023, reflecting a decrease of 37.1%[6] - Gross marketplace volume (GMV) for the twelve months ended December 31, 2024, was $608,248,000, down from $963,580,000 in 2023, a decrease of approximately 37%[28] User Metrics - The number of Paying Monthly Active Users (PMAUs) in Q4 2024 was 110,000, a slight decrease from 118,000 in Q4 2023[6] - Monthly active users (MAUs) decreased from 1,045,000 in 2023 to 816,000 in 2024, a decline of about 22%[28] - Paying monthly active users (PMAUs) dropped from 179,000 in 2023 to 118,000 in 2024, a decrease of approximately 34%[28] Financial Losses - Skillz ended 2024 with a net loss of $48.2 million, compared to a net loss of $101.4 million in 2023[6] - Net loss for the twelve months ended December 31, 2024, was $48,231,000, significantly improved from a net loss of $101,360,000 in 2023, representing a reduction of about 52%[21] Operating Expenses - Adjusted EBITDA for Q4 2024 was $(18.5) million, compared to $(63.0) million for the full year 2024[6] - Total operating expenses for Q4 2024 were $43.2 million, down from $51.6 million in Q4 2023[6] Cash and Assets - Cash, cash equivalents, and restricted cash as of December 31, 2024, were $282 million, providing flexibility for future investments[4] - Cash and cash equivalents decreased from $302,028,000 in 2023 to $271,923,000 in 2024, a reduction of approximately 10%[19] - Total assets decreased from $395,826,000 in 2023 to $364,173,000 in 2024, a decline of approximately 8%[19] Debt and Liabilities - Total outstanding debt as of December 31, 2024, was $129.7 million[6] - Total current liabilities increased from $49,858,000 in 2023 to $57,253,000 in 2024, an increase of about 15%[19] Equity and Investment - Stockholders' equity decreased from $210,489,000 in 2023 to $171,595,000 in 2024, a decline of approximately 18%[19] - The company announced a $75 million developer accelerator program to enhance game innovation and expand platform offerings[4] Revenue Per User - Average Revenue Per Paying Monthly Active User (ARPPU) was $68.1 in Q4 2024, compared to $68.7 in Q4 2023[6] - Average revenue per paying monthly active user (ARPPU) decreased from $70.00 in 2023 to $68.70 in 2024, a decline of about 1.9%[28] Cash Flow Improvement - Net cash used in operating activities improved from $71,758,000 in 2023 to $7,193,000 in 2024, a reduction of about 90%[21]