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Skillz Inc. (NYSE: SKLZ), the mobile esports pioneer, empowers competitive gaming through its tournament platform. This dedicated news hub provides investors and industry followers with centralized access to official corporate developments.
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Skillz Inc. (NYSE: SKLZ) has announced that it will release its fourth quarter and full year 2022 results on March 14, 2023, post-market close. Investors can access the earnings release on the company's investor relations website. Following the release, a live conference call and Q&A session will occur at 4:30 PM ET. Participants can register online to receive dial-in details. The Q&A session will also be available for replay until March 21, 2023. Skillz is recognized as a leading mobile games platform focused on fair competition, hosting various esports tournaments worldwide.
Skillz (NYSE: SKLZ) has appointed Alvin Lobo as its new Chief Financial Officer, bringing extensive experience in the esports and gaming sectors. Previously the CFO of Score Media and Gaming, Lobo played a vital role in the company's IPO and sale to Penn Entertainment. He will oversee finance functions, including accounting and investor relations, reporting directly to CEO Andrew Paradise. This leadership change aims to enhance financial performance and foster growth for Skillz, which is positioned as a leader in mobile gaming competition.
Skillz (NYSE: SKLZ) welcomes Kevin Chessen, co-founder of BTIG, to its Board of Directors. Chessen, who will also serve on the Audit Committee, brings decades of financial expertise. His past roles include Head of Listed Trading at Banc of America Securities and Head of Asian Equity Trading at Merrill Lynch. Chessen expressed enthusiasm about joining Skillz, highlighting its innovative approach in the mobile gaming industry. CEO Andrew Paradise emphasized Chessen's experience as crucial for Skillz's future growth. Skillz is recognized for its competitive mobile gaming platform, hosting numerous casual esports tournaments.
Skillz (NYSE: SKLZ) announces the appointment of Alex Mandel, former CFO of The Influential Network Inc., to its Board of Directors. He replaces Vanna Mehta-Krantz, who is stepping down for other commitments. Mandel brings extensive financial experience, having previously held CFO positions at Fluent, Inc. (NASDAQ: FLNT) and LendingTree, Inc. (NASDAQ: TREE). His expertise is expected to support Skillz's growth strategy and enhance operations. CEO Andrew Paradise has expressed excitement about Mandel’s role in accelerating the company's trajectory toward profitability.
Skillz Inc. (NYSE: SKLZ) has received a compliance notice from the NYSE due to its Class A common stock average closing price being below $1.00 for 30 consecutive trading days. While this notice does not lead to immediate delisting, Skillz intends to notify the NYSE by January 3, 2023, of its plan to regain compliance. The Company has six months to achieve an average closing price of at least $1.00. Options to remedy this include a potential reverse stock split, contingent on stockholder approval. The stock remains listed on the NYSE during this period.
Skillz reported Q3 2022 revenues of $60 million, aligning with expectations but reflecting a 41% year-over-year decline. The net loss increased by 30% sequentially, primarily due to a $47.6 million non-cash impairment of intangible assets. Adjusted EBITDA improved by $16 million, showcasing a 63% improvement year-over-year. Monthly Active Users decreased 37% to 320,000, while Monthly Average Revenue Per Paying User rose by 8% to $62.8. The company maintains its FY2022 revenue guidance at $275 million.
Skillz Inc. (NYSE: SKLZ) will release its third quarter results on November 2, 2022, after market close. The earnings announcement will be available on its investor relations website. A live conference call and Q&A session for analysts and investors will occur at 5:30 PM ET, accessible through online registration. An audio replay will be available until November 9, 2022. Skillz is recognized as a leader in mobile gaming, focusing on social competition and casual esports tournaments, powered by patented technology.
Skillz (NYSE: SKLZ) announces the appointment of Vassily Filippov as Chief Technology Officer, enhancing its leadership team. Filippov, who previously led engineering at Meta and has over 20 years in the gaming industry, will oversee global engineering efforts. His prior experience includes significant roles at Apple and Riot Games, contributing to renowned franchises like 'God of War' and 'League of Legends.' This strategic hire aligns with Skillz's focus on profitable growth and the technical roadmap for its competitive gaming platform.
Skillz (NYSE: SKLZ) announces the appointment of Seth Schorr to its Board of Directors. Schorr, with extensive experience in interactive gaming and entertainment, will also serve on the Compensation Committee. He co-founded Fifth Street Gaming and has a strong background in esports and hospitality, including developing integrated esports programs in casinos. Skillz aims to utilize Schorr's expertise as it seeks to strengthen its position in the mobile gaming sector, positioning itself as a leading platform for casual esports.
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