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Jun 30, 2022
Skillz Q2 2022 Earnings Report
Skillz's financial performance declined with a revenue decrease, but net loss and Adjusted EBITDA improved due to cost-cutting measures.
Key Takeaways
Skillz Inc. reported a decrease in revenue for Q2 2022, but showed significant improvement in net loss and adjusted EBITDA due to reductions in marketing spend and restructuring efforts. The company is focused on achieving profitability in 2023 and beyond.
Net Loss improved by 59% quarter-over-quarter.
Adjusted EBITDA improved by 48% quarter-over-quarter.
Revenue declined by 22% quarter-over-quarter.
Paying Monthly Active Users (PMAU) declined by 26% quarter-over-quarter.
Forward Guidance
Skillz is lowering its full-year 2022 revenue guidance to $275 million and expects a full year 2022 Adjusted EBITDA margin of approximately -56%.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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