Skillz Inc Stock Price, News & Analysis

Skillz (NYSE: SKLZ), a leading mobile games platform, has been featured in the San Francisco Business Times and Silicon Valley Business Journal list of 'Best Places to Work.' This recognition is based on employee feedback from a third-party survey evaluating various workplace aspects. CEO Andrew Paradise highlighted the company's inclusive culture and the role of its employees in driving success. Despite the pandemic, Skillz fostered a sense of community among employees through virtual events and encourages gaming during work hours to maintain engagement.

Skillz (NYSE: SKLZ) has appointed Ian Lee as its new Chief Financial Officer, effective June 21, 2021. Lee joins from Airbnb, where he played a pivotal role in its $4 billion IPO in December 2020. His experience spans various prestigious tech companies, including Atlassian and Trulia, contributing to their public offerings. Skillz CEO Andrew Paradise emphasizes the benefit of Lee's extensive finance and investor relations background as the company aims to enhance its growth trajectory in the competitive mobile gaming market.

Skillz Inc. (NYSE: SKLZ) reported its Q1 2021 results, showcasing significant growth with a revenue of $83.7 million, an increase of 92% year-over-year. Gross profit rose to $79.4 million, up 95%, achieving a gross margin of 95%. However, the net loss widened to $53.6 million from $15.5 million in the previous year. Adjusted EBITDA improved to $31.1 million. The company also increased its full-year revenue guidance to $375 million, reflecting a 63% growth outlook. Skillz has $613 million in cash and no debt, highlighting strong financial health.

Skillz (NYSE: SKLZ) released its Q1 2021 outlook, expecting revenues of $80 million, exceeding analyst estimates of $72.2 - $79.6 million. Adjusted EBITDA is projected to be ($37) million, worse than the expected loss of ($21.8) - ($24.5) million. Monthly Active Users (MAU) are estimated at 2.6 million, within the analyst range of 2.4 - 3.2 million. The outlook reflects double-digit growth in payors, driven by new installs and higher conversion rates. Skillz plans to report detailed financial results on May 4, 2021.

Skillz Inc. (NYSE: SKLZ) has priced its underwritten public offering of 32,000,000 shares of Class A common stock at $24.00 per share. The offering comprises 17,000,000 shares to be sold by Skillz and 15,000,000 shares by selling stockholders, who have also granted a 30-day option for underwriters to purchase an additional 4,800,000 shares. The proceeds will be used for working capital and general corporate purposes. The offering is expected to close around March 23, 2021, subject to customary conditions.

Skillz has launched an underwritten public offering of 32,000,000 shares of its Class A common stock. This includes 17,000,000 shares from Skillz and 15,000,000 shares from selling stockholders, who may grant underwriters a 30-day option for an additional 4,800,000 shares. Proceeds are intended for working capital and general corporate purposes, with Skillz not receiving funds from the selling stockholders. The offering is contingent on market conditions and remains subject to regulatory approval.

Skillz Inc. (NYSE: SKLZ) announced its financial results for Q4 and full year 2020, marking its 20th consecutive quarter of revenue growth. Q4 revenue reached $68 million, up 95% from Q4 2019. Full year revenue rose 92% to $230 million. Although gross profit also saw significant growth, with Q4 gross profit at $64 million (95% margin), the net loss widened to $44 million in Q4 and $122 million for the year. Looking ahead, the company projects 2021 revenue of $366 million, reflecting 59% growth.

Skillz Inc. (NYSE: SKLZ) will release its fourth quarter and full-year 2020 financial results on March 10, 2021, after market close. The management will host a conference call at 5pm ET on the same day to discuss the results, followed by a Q&A session with analysts and investors. Participants can access the call by registering online and will receive dial-in information via email. The audio webcast will be available on the Skillz website, and a replay will be archived post-event.

Skillz (NYSE: SKLZ) announced the appointment of renowned producer Jerry Bruckheimer to its board of directors, marking his first role on a public company board. This transition occurs shortly after Skillz's debut on the NYSE as the first public mobile esports platform. Bruckheimer’s extensive experience includes producing films that have grossed over $18 billion and serving on the board of Zenimax Media, which was acquired by Microsoft for $7.5 billion in 2020. His involvement is expected to enhance Skillz's competitive edge in the rapidly growing mobile gaming sector, projected to exceed $150 billion by 2025.