Skillz Q1 2025 Earnings Report
Key Takeaways
Skillz reported preliminary results for Q1 2025 with revenue of $22.4 million and a net loss of $14.9 million. The company saw a slight increase in paying monthly active users quarter-over-quarter and continues to focus on improving retention and player spend, as well as disciplined operating expense management.
Revenue for Q1 2025 was $22.4 million, a decrease from $25.2 million in Q1 2024.
Net loss for Q1 2025 was $14.9 million, an improvement from a net loss of $26.7 million in Q1 2024.
Paying Monthly Active Users (PMAU) increased to 124,000 in Q1 2025 compared to 121,000 in Q1 2024.
Adjusted EBITDA was $(15.1) million, an improvement from $(17.7) million in Q1 2024.
Skillz
Skillz
Forward Guidance
The company is working to return to consistent top-line growth and positive Adjusted EBITDA, and expects to file its Form 10-K within the six-month period granted by the NYSE Notice.
Positive Outlook
- Progress toward returning to consistent top-line growth.
- Progress toward returning to positive Adjusted EBITDA.
- Paying monthly active users rose quarter over quarter.
- Prioritizing features and offerings to improve retention and increase player spend.
- $75 million accelerator program to identify new skill-based mobile games.
Challenges Ahead
- Preliminary results are unaudited and subject to revision.
- Actual results may differ from preliminary results.
- Still in the process of completing financial statements for fiscal year ended December 31, 2024.
- Did not timely file the Form 10-K and received a notice of non-compliance from the NYSE.
- Uncertainties associated with ongoing litigation.