Skillz Q1 revenue $44.4M, net loss $35.6M; restates prior financials

Skillz Inc.

2023-Q1 EPS reported -$0.09 revenue$44,383,000

Revenue of $44.4M, gross profit $39.8M; net loss $35.6M.
Adjusted EBITDA of $(20.9)M; paying MAU 214K, ARPPU $69.1.
Cash and securities $520.9M; debt outstanding $273.6M.
Company restated 2020-2022 financials for errors in end-user liability, reserves, impairment, and tax.
CEO cites progress on turnaround four pillars; cautiously optimistic.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Skillz Inc. reported first quarter ended March 31, 2023 results: revenue $44.4 million.

Period: first quarter ended March 31, 2023
Revenue: $44.4 million
Result: reported results

Exact text from the filing

games platform bringing fair competition to players worldwide, today announced results for the first quarter ending March 31, 2023. First Quarter Financial Update: • Revenue of $44.4 million. • Gross profit of $39.8 million. • Net loss of $35.6 million. • Adjusted EBITDA 1 of $(20.9) million. • Paying monthly active users (PMAU) 2 of 214 thousand. • Average Revenue

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Source: SEC EDGAR

accession 0001801661-23-000007

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