Loading...
•
Dec 31, 2024
Skillz Q4 2024 Earnings Report
Skillz reported a decline in revenue and an increase in net loss for Q4 2024.
Key Takeaways
Skillz faced a challenging fourth quarter with revenue of $20.4 million, down from the prior year. The company reported a net loss of $26.4 million and a negative Adjusted EBITDA of $18.5 million. Paying monthly active users decreased, but the company remains focused on improving financial performance through strategic initiatives.
Revenue declined to $20.4 million in Q4 2024.
Net loss widened to $26.4 million.
Gross profit was $17.1 million with a high gross margin.
Paying monthly active users decreased to 110,000.
Skillz
Skillz
Forward Guidance
Skillz remains focused on returning to profitability and investing in product innovation to drive user engagement and revenue growth.
Positive Outlook
- Company launched a $75 million developer accelerator program.
- Sequential improvement in paying monthly active users from November through February.
- Strong balance sheet with $271.9 million in cash and cash equivalents.
- Continued investment in platform innovation.
- Focus on achieving positive Adjusted EBITDA.
Challenges Ahead
- Revenue decline continues to impact financial performance.
- High operating expenses remain a challenge.
- Increased competition in the mobile gaming industry.
- Declining number of paying users.
- Net loss widened compared to prior year.