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) 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.
The NFL has partnered with Skillz (NYSE: SKLZ) to launch a global game developer challenge aimed at creating an NFL-themed mobile game. This collaboration will utilize the Skillz esports platform and feature joint marketing efforts. The initiative seeks to connect with new football fans through mobile gaming, leveraging the NFL's extensive brand. The challenge is set to commence in Q2 2021, welcoming developers across various genres, excluding 11 v 11 simulation games. This partnership positions Skillz to potentially attract hundreds of millions of NFL fans.
The arcade franchise Big Buck Hunter is launching a mobile version exclusively for Skillz (NYSE: SKLZ). This partnership aims to expand its audience among the 2.7 billion mobile gamers globally, while Skillz enters the popular first-person shooter genre. With over 46,000 arcade machines sold, Big Buck Hunter's mobile adaptation will offer a competitive gaming experience. Players will enjoy skill-based matches, and promotional codes will allow free play of the arcade version.