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Skillz Reports 2023 Fourth Quarter and Full Year 2023 Results

Retrieved on:

Thursday, March 14, 2024

Electronic Games, Entertainment, Mobile Entertainment, PIN, Skillz, Inc., CFO, Webcast, Acquisition, Adjustment, Maus, GAAP, Marketing, Video game

Skillz Inc. (NYSE: SKLZ) (“Skillz” or the “Company”), the leading mobile games platform bringing fair competition to players worldwide, today reported financial results for the fourth quarter and fiscal year ended December 31, 2023.

Key Points:

Skillz Inc. (NYSE: SKLZ) (“Skillz” or the “Company”), the leading mobile games platform bringing fair competition to players worldwide, today reported financial results for the fourth quarter and fiscal year ended December 31, 2023.
Fourth Quarter 2023 Financial Highlights:
Full Year 2023 Financial Highlights:
Cash, cash equivalents, and marketable securities of $302.0 million as of December 31, 2023
Total outstanding debt of $123.9 million as of December 31, 2023
“We made steady progress throughout 2023 with our strategic initiatives to position Skillz to deliver consistent top-line growth and positive Adjusted EBITDA,” said Andrew Paradise, Skillz’ CEO.
Importantly, after declines in our paying audience throughout 2023, we significantly slowed the decline in the beginning of 2024, and are tracking to a more stable audience.
Our continued execution on our strategic initiatives puts Skillz on track to achieve our goal of generating positive Adjusted EBITDA on a run-rate basis by the fourth quarter of this year.”
Gaetano Franceschi, Skillz’ CFO, added, “We continue to demonstrate prudent management of the business as reflected in the quarterly sequential improvements in our Adjusted EBITDA loss for every quarter of 2023, with the fourth quarter loss being 41% less than in the first quarter.

Aarki Appoints New Leadership Team to Transform AI Driven Advertising Solutions

Retrieved on:

Wednesday, March 20, 2024

ROI, Algorithm, Skillz, Growth, LG, Veteran, Ideation, SAN, Acquisition, AI, Ecosystem, Mobile phone

SAN FRANCISCO, March 20, 2024 /PRNewswire/ -- Aarki, an AI company that delivers advertising solutions that drive revenue growth, today announced the appointment of a new leadership team focused on transforming its core technology. The company is also expanding the company's product suite to deliver best-in-class user acquisition and re-engagement advertising tools for mobile app developers.

Key Points:

SAN FRANCISCO, March 20, 2024 /PRNewswire/ -- Aarki , an AI company that delivers advertising solutions that drive revenue growth, today announced the appointment of a new leadership team focused on transforming its core technology.
Since spinning-off from its former parent company Skillz in 2023, Aarki has been under the leadership of Aman Sareen, formerly General Manager of LG Ads.
Aarki's new leadership team includes:
With massive reach and extensive proprietary AI algorithms, Aariki is one of mobile advertising's most dynamic buy-side platforms and ROI optimization solutions, driven by Aarki's proprietary machine learning.
"With our new management team and AI platform, we are solely committed to helping our clients manage and maximize their ad spend," said Aman Sareen, CEO of Aarki.

Skillz Reports 2023 Third Quarter Results

Retrieved on:

Wednesday, November 8, 2023

Electronic Games, Entertainment, Mobile Entertainment, Adjustment, Earnings call, NYSE, PIN, Economics, GAAP, Holocene, Growth, Inc., Marketing, Webcast, Skillz, CFO, Video game, Mobile phone

Skillz Inc. (NYSE: SKLZ) (“Skillz” or the “Company”), the leading mobile games platform bringing fair competition to players worldwide, today reported financial results for the third quarter ended September 30, 2023.

Key Points:

Skillz Inc. (NYSE: SKLZ) (“Skillz” or the “Company”), the leading mobile games platform bringing fair competition to players worldwide, today reported financial results for the third quarter ended September 30, 2023.
2 “Paying Monthly Active Users” or “PMAUs” means the number of end-users who entered into a paid contest hosted on Skillz’ platform at least once in a month, averaged over each month in the period.
“We continue to make progress on our initiatives to improve the business, though our third quarter results highlight the fact that the Company still needs to improve its execution to be positioned to deliver consistent top line growth and positive cash flow,” said Andrew Paradise, Skillz’ CEO.
To access the call, please register using the following link: Skillz Third Quarter 2023 Earnings Call .

Skillz to Report 2023 Third Quarter Results on November 8 and Host Conference Call and Webcast

Retrieved on:

Wednesday, October 25, 2023

eSports, Mobile, Wireless, Technology, Electronic Games, Sports, Entertainment, Mobile Entertainment, Other Entertainment, General Entertainment, Consumer Electronics, Earnings call, Inc., NYSE, Webcast, PIN, Video game, Skillz

During the call, Skillz management will review the Company’s financial results and provide a business update, followed by a question-and-answer session.

Key Points:

During the call, Skillz management will review the Company’s financial results and provide a business update, followed by a question-and-answer session.
To access the call, please register using the following link: Skillz Third Quarter 2023 Earnings Call .
Access to the live audio webcast of the discussion in listen-only mode will also be available at investors.skillz.com .
If you have questions about Skillz Inc. or are interested in conducting a conference call with the Company’s management, please contact JCIR at (212) 835-8500 or [email protected] .

Three new companies bring 350+ new jobs to the Greater Vegas region

Retrieved on:

Wednesday, September 13, 2023

Menudo, Workplace, Pulse, City, Las Vegas Global Economic Alliance, Economic development, Casino, Video game, Renewable energy, Fast food, Skillz

“The Greater Vegas region continues to see interest from a wide variety of industries, helping diversify our economy along with bringing high paying jobs to the region,” said Tina Quigley, LVGEA president & CEO.

Key Points:

“The Greater Vegas region continues to see interest from a wide variety of industries, helping diversify our economy along with bringing high paying jobs to the region,” said Tina Quigley, LVGEA president & CEO.
“Since January, we have assisted 17 companies that will create 4,477 jobs in their first five years of operation.
“Our decision to become a part of the Greater Vegas region enables us to further our mission and deliver on our goals.
We see a future where Vegas will become the next Silicon Valley and we are excited to contribute to that future.”

Skillz Announces Second Quarter 2023 Results

Retrieved on:

Wednesday, August 2, 2023

Skillz Inc. (NYSE: SKLZ) (“Skillz” or the “Company”), the leading mobile games platform bringing fair competition to players worldwide, today reported financial results for the second quarter ended June 30, 2023.

Key Points:

Skillz Inc. (NYSE: SKLZ) (“Skillz” or the “Company”), the leading mobile games platform bringing fair competition to players worldwide, today reported financial results for the second quarter ended June 30, 2023.
“The second quarter was a productive period for Skillz marked by further progress against our strategic initiatives with a focus on developing an array of new product features that will increase consumer engagement and retention.
In this regard, during the second quarter, we opportunistically re-purchased $159.8 million in outstanding debt at a discount resulting in total debt as of June 30, 2023 of $129.7 million.”
Skillz will host a live conference call at 4:30 p.m.
To access the call, please register using the following link: Skillz Second Quarter 2023 Earnings Call .

Skillz to Report 2023 Second Quarter Results on August 2 and Host Conference Call and Webcast

Retrieved on:

Wednesday, July 19, 2023

Entertainment, Consumer Electronics, Technology, General Entertainment, Mobile Entertainment, Mobile, Wireless, Electronic Games, Webcast, Inc., PIN, Earnings call, NYSE, Video game, Skillz

Skillz Inc. (NYSE: SKLZ) (“Skillz” or the “Company”), the leading mobile games platform bringing fair and fun competition to players worldwide, today announced that it will release its 2023 second quarter financial results after the close of the market on Wednesday, August 2, 2023, and host a conference call and simultaneous webcast at 4:30 p.m.

Key Points:

Skillz Inc. (NYSE: SKLZ) (“Skillz” or the “Company”), the leading mobile games platform bringing fair and fun competition to players worldwide, today announced that it will release its 2023 second quarter financial results after the close of the market on Wednesday, August 2, 2023, and host a conference call and simultaneous webcast at 4:30 p.m.
During the call, Skillz management will review the Company’s financial results and provide a business update, followed by a question-and-answer session.
To access the call, please register using the following link: Skillz Second Quarter 2023 Earnings Call .
If you have questions about Skillz Inc. or are interested in conducting a conference call with Skillz’s management, please contact JCIR at (212) 835-8500 or [email protected] .

Skillz Announces 1-for-20 Reverse Stock Split

Retrieved on:

Thursday, June 22, 2023

Entertainment, Technology, Mobile Entertainment, Software, Electronic Games, Internet, Transfer, Exercise, Inc., Annual general meeting, CUSIP, NYSE, Security (finance), Skillz

Skillz Inc. (NYSE: SKLZ), the leading mobile games platform bringing fair competition to players worldwide, today announced that its Board of Directors has approved a 1-for-20 reverse stock split of the Company’s Class A common stock and Class B common stock (together, the “common stock”).

Key Points:

Skillz Inc. (NYSE: SKLZ), the leading mobile games platform bringing fair competition to players worldwide, today announced that its Board of Directors has approved a 1-for-20 reverse stock split of the Company’s Class A common stock and Class B common stock (together, the “common stock”).
The reverse stock split, which was authorized by Skillz stockholders at the Annual Meeting of Stockholders on June 20, 2023, is intended to return Skillz to compliance with the New York Stock Exchange continued listing standards.
As a result of the reverse stock split, every 20 shares of Skillz’ issued and outstanding common stock will be converted automatically into one issued and outstanding share of common stock without any change in the par value per share.
The reverse stock split will affect all stockholders uniformly and will not alter any stockholder’s percentage interest in the Company’s equity, except, to the extent that the reverse stock split would result in a stockholder owning a fractional share.

Skillz Plants Roots in Las Vegas with New Headquarters

Retrieved on:

Tuesday, June 6, 2023

Electronic Games, Commercial Building & Real Estate, Construction & Property, Entertainment, NYSE, Multimedia, Woman, Parity, Casino, Video game, Skillz

The 36,045-square foot property overlooking the world-famous Las Vegas Strip will be the company’s new headquarters.

Key Points:

The 36,045-square foot property overlooking the world-famous Las Vegas Strip will be the company’s new headquarters.
View the full release here: https://www.businesswire.com/news/home/20230606005361/en/
“This property represents an important milestone for Skillz,” said Andrew Paradise, CEO of Skillz.
Establishing deeper roots in Las Vegas allows us to draw from expertise in world-class entertainment while attracting world-class talent to the company as we grow.
"Las Vegas is the top destination for entertainment, professional sports, five-star dining, fabulous boutique shopping, our incredible resorts and our evolving reputation in technology," Las Vegas Mayor Carolyn G. Goodman said.

Skillz Hires Fortune 500 Legal Executive Andrew Dahlinghaus As General Counsel

Retrieved on:

Friday, June 2, 2023

Skillz (NYSE: SKLZ), the leading mobile games platform that connects players and developers through fun and fair competition, today announces that Andrew Dahlinghaus will be joining the executive team as General Counsel, effective June 26, 2023.

Key Points:

Skillz (NYSE: SKLZ), the leading mobile games platform that connects players and developers through fun and fair competition, today announces that Andrew Dahlinghaus will be joining the executive team as General Counsel, effective June 26, 2023.
“I’m excited to see how Andrew Dahlinghaus applies his background in leading legal and compliance functions at growing companies to further Skillz,” said Andrew Paradise, CEO and founder of Skillz.
In his past roles, Dahlinghaus has led best-in-class Legal and Compliance groups in Fortune 500, FTSE 250 and private equity-backed companies, including Covidien, Medtronic, and ConvaTec.
“I am thrilled to join Skillz as General Counsel at such an important time at the company,” said Dahlinghaus.