Why Skillz (SKLZ) Shares Are Trading Lower Today [Yahoo! Finance]
Skillz Inc. Class A (SKLZ)
Company Research
Source: Yahoo! Finance
The company's user base fell and its revenue growth was quite weak in the quarter. Paying monthly active users fell significantly during the quarter (-41% year on year), falling below expectations. Monetization was also weak as average revenue per paying monthly active users also came in below analyst estimates. However, the bright spot was management saying that Skillz will achieve "positive Adjusted EBITDA on a run-rate basis by the fourth quarter of this year", which is above expectations of roughly breakeven by that time. Skillz also called out its efforts to improve the weak growth trend, adding, "Importantly, after declines in our paying audience throughout 2023, We significantly slowed the decline at the beginning of 2024." Overall, the results were weak and highlighted a lot of challenges that are likely to raise concerns among investors. The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks. Is now the time to b
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SKLZ
News
- New UFC FIGHT CARD RUMMY to Feature Live Tournament, Fan Favorite UFC Athletes and More [Yahoo! Finance]Yahoo! Finance
- Reflecting On Video Gaming Stocks' Q4 Earnings: Skillz (NYSE:SKLZ) [Yahoo! Finance]Yahoo! Finance
- Skillz, AviaGames to settle patent lawsuit over 'copycat' mobile games [Reuters]Reuters
- Skillz: Large Cash Position But Core Business Keeps Declining [Seeking Alpha]Seeking Alpha
- Skillz Receives NYSE Notice Regarding Late Form 10-K Filing [Yahoo! Finance]Yahoo! Finance
SKLZ
Earnings
- 3/14/24 - Beat
SKLZ
Sec Filings
- 4/8/24 - Form 8-K
- 3/18/24 - Form 4
- 3/14/24 - Form NT
- SKLZ's page on the SEC website