Welcome to our dedicated page for Skillz news (Ticker: SKLZ), a resource for investors and traders seeking the latest updates and insights on Skillz stock.
Skillz Inc. (NYSE: SKLZ) is a mobile games platform in the data processing, hosting, and related services industry, with a focus on skill-based competition and developer enablement. Company news releases describe Skillz as a platform that helps developers create multi-million dollar franchises by enabling social competition in their games and hosting billions of casual esports tournaments for millions of mobile players worldwide.
The Skillz news stream commonly features financial results and operating updates. The company regularly issues press releases reporting preliminary and final quarterly and annual results, including revenue, net loss, Adjusted EBITDA, paying monthly active users (PMAUs), and average revenue per paying monthly active user (ARPPU). These releases often include management commentary on engagement, monetization, and expense management, as well as explanations of non-GAAP metrics and their reconciliations to GAAP measures.
Another recurring theme in Skillz news is regulatory and listing developments. The company has reported delays in filing its Annual Report on Form 10-K and certain Quarterly Reports on Form 10-Q, notices from the New York Stock Exchange regarding timely filing requirements, and the granting of cure periods to regain compliance. Related 8-K filings and press releases provide context on the company’s efforts to complete its financial statements and maintain its NYSE listing.
Skillz news also covers strategic initiatives and programs aimed at developers. A notable example is the Skillz Developer Accelerator, which the company describes as a program to deploy up to $75 million of cash on hand over three years to support the development, promotion, and marketing of new skill-based games. News about this program details the types of support offered, including working capital, access to the company’s internal experts, a proprietary SDK, data tools, and user acquisition and operational assistance.
In addition, Skillz issues announcements about earnings calls, webcasts, and investor communications, providing dates and access details for conference calls where management reviews financial results and offers business updates. Governance-related news, such as changes in the independent registered public accounting firm, executive transitions, and equity incentive awards, is disclosed through 8-K filings and associated communications.
Investors and followers of SKLZ can use this news page to review the company’s historical and recent announcements on financial performance, listing status, developer programs, and corporate governance, all based on official press releases and SEC-reported information.
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.
Skillz (NYSE: SKLZ) has announced the appointment of Henry Hoffman, Partner and Portfolio Manager at SL Advisors, to its Board of Directors. Hoffman will also serve on the Audit Committee, bringing extensive financial expertise to the team. His previous experience includes roles at PNC Capital Advisors and PNC Realty Investors. CEO Andrew Paradise expressed enthusiasm about Hoffman's role in driving the company towards profitable growth. Skillz aims to enhance competition in mobile gaming through its patented technology and has received various recognitions in the industry.
Skillz Inc. (NYSE: SKLZ) reported its Q2 2022 financial results, showing a significant 59% improvement in net loss quarter-over-quarter, reducing losses from $148 million to $61 million. However, the company experienced a 22% decline in revenue, falling from $93 million in Q1 2022 to $73 million. Despite an increase in monthly average revenue per paying user (ARPPU) by 6%, paying monthly active users decreased by 26%. To enhance profitability, Skillz restructured its operations, cutting about 10% of its workforce and reducing marketing spend by 28%.
Skillz Inc. (NYSE: SKLZ) plans to release its second quarter 2022 results after market close on August 3, 2022. The results will be presented in a stockholder letter available on the company’s investor relations website. Additionally, a live Q&A conference call will take place at 5:30 PM ET, accessible via online registration. An audio replay of the call will be available until August 10, 2022, through specified dialing options. Skillz is recognized as a leading mobile games platform, hosting casual esports tournaments for millions worldwide.
Skillz (NYSE: SKLZ) has appointed Jason Roswig as President and Chief Financial Officer, effective August 8, 2022. Roswig joins from Blackstone, where he served as Managing Director, and succeeds Ian Lee. He brings over 20 years of experience in finance, including roles at GE and McKinsey. Andrew Paradise, CEO of Skillz, expressed enthusiasm for Roswig's leadership, highlighting his commitment to financial and operational excellence. The company focuses on enhancing competition in mobile gaming, leveraging patented technology to host esports tournaments.
Skillz (NYSE: SKLZ) announced the appointment of Shari Glazer to its board of directors, making her the company's second woman director. Glazer, a renowned philanthropist and entrepreneur, brings substantial expertise in sports, technology, and philanthropy. Skillz now has eight board members, and the CEO, Andrew Paradise, expressed enthusiasm about Glazer's contributions to enhancing fair competition in mobile gaming. Glazer's background includes leading Kalos Labs and significant ownership stakes in the Tampa Bay Buccaneers and Manchester United.
Skillz reported $93 million in revenue for Q1 2022, marking a 12% increase year-over-year, with gross profit rising 6% to $84 million. However, net loss widened to $148 million, largely due to non-recurring stock-based compensation. Monthly active users grew by 22% to 0.57 million. The company launched its cloud gaming feature and improved marketing efficiency by eliminating low-return programs. Despite challenges, Skillz maintained its full-year revenue guidance of $400 million, expecting significant improvements in Adjusted EBITDA margins by year-end.
Skillz Inc. (NYSE: SKLZ) announced it will release its first quarter 2022 financial results on May 4, 2022, after market close. A stockholder letter detailing these results will be available on the investor relations website. On April 27, 2022, shareholders can submit and upvote questions for management ahead of a live Q&A conference call on May 4 at 5:30 PM ET. The call will be accessible via online registration, and an audio replay of the Q&A will be available until May 11, 2022.
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