Skillz Inc Stock Price, News & Analysis

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.

Skillz (NYSE: SKLZ) has announced a multi-year partnership with UFC to create branded competitive mobile games. This deal enables Skillz developers to use UFC intellectual property for game development, co-marketing alongside UFC. The partnership was revealed at the Game Developers Conference (GDC) in San Francisco. Skillz aims to leverage UFC's popularity to engage a vast audience of MMA fans who are also gamers, with new games expected to launch in 2023.

Skillz (NYSE: SKLZ) has announced Play Mechanix as the recipient of its first-ever "Developer of the Year" award, recognizing their creativity and success on the platform. The award was revealed at the Game Developer Conference (GDC) in San Francisco. Play Mechanix, known for the Big Buck Hunter franchise, gained attention with its mobile game, Big Buck Hunter: Marksman, which achieved top rankings on the Apple App Store shortly after launch. Skillz aims to continue fostering this partnership to enhance player engagement and retention through innovative game features.

Skillz (NYSE: SKLZ) is set to make waves at the Game Developers Conference (GDC) from March 23-25, 2022, in San Francisco. The company will showcase its unique gaming platform, alongside its growing demand side platform, Aarki, at booth #S749. Highlights include a sneak preview of NFL-branded mobile games, live Skillz-powered tournaments, and exclusive product innovations aimed at empowering game developers. CEO Andrew Paradise emphasizes Skillz’s commitment to democratizing mobile gaming and enabling developers to create successful franchises.

Skillz Inc. reported its fourth quarter financial results, achieving a revenue of $109 million, a 61% increase year-over-year. Gross profit also rose by 56% to $100.4 million. However, net loss increased to $99 million, compared to $67 million in the previous year. For 2021, revenue grew 67% to $384.1 million, but was below the guidance of $389 million. Looking ahead, Skillz forecasts a revenue of $400 million for 2022, with expected improvements in marketing efficiency and adjusted EBITDA margins.

Skillz Inc. (NYSE: SKLZ) will host a virtual Investor Day on March 15, 2022, from 11:00 am ET to 1:30 pm ET. Attendees can register via the Skillz Investor Relations website. The event will feature presentations from key executives. Shareholders can submit questions from March 8 to March 13, 2022. Additionally, a Darts Tournament will be held for registrants from March 11 to March 13, with prizes for top finishers.