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Sep 30, 2023
Skillz Q3 2023 Earnings Report
Reported third quarter results, highlighting ongoing efforts to improve the business amidst challenges in achieving consistent top-line growth and positive cash flow.
Key Takeaways
Skillz Inc. reported revenue of $36.4 million and a net loss of $33.5 million for the third quarter ended September 30, 2023. The company is focused on improving execution to achieve consistent top-line growth and positive cash flow, with plans to scale the business and generate sequential profitable revenue growth starting next year and positive Adjusted EBITDA on a run rate basis in Q4 2024.
Revenue reached $36.4 million.
Gross profit was $32.7 million.
Net loss amounted to $(33.5) million.
Cash, cash equivalents, restricted cash, and marketable securities totaled $339.9 million as of September 30, 2023.
Forward Guidance
Skillz expects to generate quarterly sequential profitable revenue growth beginning next year and to achieve positive Adjusted EBITDA on a run rate basis in the fourth quarter of 2024.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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