skillz(US:SKLZ)2025-03-14 01:54Financial Data and Key Metrics Changes - Revenue for Q4 2024 was $20 million, down 17% sequentially and down 35% year over year [25] - Adjusted EBITDA loss in Q4 was $19 million, with a full-year adjusted EBITDA loss of $63 million compared to $69 million in 2023 [28] - Net loss for Q4 was $26 million, an improvement from a net loss of $60 million in Q4 2023 [27] - Cash at the end of the year was $282 million, consisting of $272 million in cash and cash equivalents and $10 million in restricted cash [28] Business Line Data and Key Metrics Changes - Paying MAU in Q4 was 110,000, down from 121,000 in Q3, but increased to 123,000 by the end of February [20] - Paid user conversion rate was 14.6% in Q4, up from 14.3% in Q3 [25] - User acquisition (UA) marketing spend was $5 million, while engagement marketing was $10 million in Q4 [26] Market Data and Key Metrics Changes - The company is actively pursuing legal actions against competitors using deceptive practices, which it believes defraud players of billions [10][12] - Class action lawsuits have been filed against Avia Games and Papaya Gaming, indicating ongoing market challenges [12] Company Strategy and Development Direction - The company is focusing on four key pillars to return to consistent top-line growth and positive adjusted EBITDA, including enhancing the platform, up-leveling the organization, optimizing go-to-market strategies, and demonstrating a clear path to profitability [15][22] - A $75 million developer accelerator program has been announced to support game developers and expand offerings on the platform [17][18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in competing against other skill-based gaming providers without engaging in deceptive practices [14] - The company is focused on improving consumer and developer engagement and retention through its platform enhancements [16] Other Important Information - The company expects to receive $7.5 million from Avia Games as part of a settlement, which is the first of four annual payments [29] - Total principal due on outstanding debt at the end of Q4 was $129.7 million [29] Q&A Session Summary - There were no questions registered during the Q&A session, leading to the conclusion of the conference call [31]