Skillz Q1 revenue $29.1M, net loss $10.9M; wins $420M jury verdict against Papaya Gaming

Skillz Inc.

Revenue $29.1M, gross profit $25.5M, net loss $10.9M, adjusted EBITDA loss $12.8M.
Paying monthly active users 128k, average revenue per PMAU $76.0.
Federal jury awarded Skillz $420M actual damages vs Papaya Gaming; potential total $1.2B; court ruling expected June 2026.
Ended quarter with $185M cash; RZR segment delivered third consecutive quarter of profitability.
Excluding litigation expenses, adjusted EBITDA improved 15% QoQ, operating expenses $41.8M.

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