Skillz Q4 2021 Earnings Report
Key Takeaways
Skillz Inc. reported a 61% year-over-year increase in revenue, reaching $108.8 million for the fourth quarter of 2021. The company's paying monthly active users also increased by 56% year-over-year. However, the net loss increased to $99.0 million, and the company is shifting its focus to profitable growth by improving marketing efficiency.
Revenue increased by 61% year-over-year to $108.8 million.
Gross profit increased by 56% year-over-year to $100.4 million.
Net loss increased to $99.0 million from $67.0 million in the prior year period.
Paying Monthly Active Users (PMAU) increased 56% year-over-year to 0.61 million.
Skillz
Skillz
Forward Guidance
The Company is initiating its 2022 revenue guidance at $400 million. Our guidance is based on an estimated reduction in engagement marketing as a percentage of revenue of approximately 10 percentage points, when compared with engagement marketing as a percentage of revenue of 49% in 2021.