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 (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.
Skillz Inc. (NYSE: SKLZ) has announced a new shareholder Q&A platform ahead of its fourth quarter 2021 earnings call, scheduled for February 23, 2022. Shareholders can submit questions until February 20, 2022, at 5:30 PM ET. A stockholder letter with financial results will be available on their investor relations website on the same day. The live Q&A conference call will begin at 5:30 PM ET, with access details provided upon registration. Audio replays will be available until March 2, 2022.