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Sep 30, 2021
Skillz Q3 2021 Earnings Report
Skillz announced Q3 2021 results, delivering 23rd consecutive quarter of revenue outperformance.
Key Takeaways
Skillz reported a strong third quarter with a 70% year-over-year revenue increase, reaching $102.1 million. Paying MAU grew 47% year-over-year. The company officially launched the mobile version of Big Buck Hunter and closed an investment in Exit Games.
Revenue was $102.1 million, up 70% year-over-year.
Gross profit was $94.4 million, up 66% year-over-year.
Net income was $50.8 million, compared to a loss of $(42.9) million in the prior year period, primarily due to changes in the fair value of warrants and an income tax benefit.
Cash on balance sheet was $540.3 million with no debt.
Forward Guidance
The Company is affirming its full-year 2021 revenue guidance of $389 million (inclusive of Aarki).
Historical Earnings Impact
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Avg. Return Before/After Earnings
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