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SKLZ

Skillz Inc.

SKLZ

Skillz Inc. • NYSE
$5.59 ▲ 1.45% (+0.08)
Market Cap $90.38 M
52w High $9.11
52w Low $3.54
Dividend Yield 0%
P/E -1.18
Volume 35.01K
Outstanding Shares 16.17M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $27.374M ▲ $40.291M ▲ $-17.442M ▼ -63.717% ▼ $-1.14 ▼ $-15.618M ▼
Q2-2025 $27.372M ▲ $30.733M ▲ $-8.919M ▼ -32.584% ▼ $-0.58 ▲ $-7.428M ▼
Q1-2025 $0 $0 $0 0% $-0.92 ▲ $0
Q4-2024 $0 ▼ $0 ▼ $0 ▲ 0% ▲ $-1.5 ▼ $0 ▲
Q3-2024 $24.564M $42.183M $-21.115M -85.959% $-1.2 $-16.922M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $211.801M ▼ $308.228M ▼ $181.052M ▼ $127.176M ▼
Q2-2025 $228.657M ▼ $328.302M ▼ $187.884M ▼ $140.418M ▼
Q1-2025 $264.341M ▼ $346.973M ▼ $189.741M ▼ $157.232M ▼
Q4-2024 $281.923M ▼ $364.173M ▼ $192.578M ▲ $171.595M ▼
Q3-2024 $301.443M $390.186M $190.723M $199.463M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-17.442M ▼ $-24.812M ▼ $-988K ▲ $-56K ▲ $-25.856M ▼ $-25.8M ▼
Q2-2025 $-8.956M ▲ $-20.942M ▼ $-1.555M ▲ $-3.187M ▲ $-25.684M ▼ $-22.497M ▼
Q1-2025 $-14.931M ▲ $-10.767M ▲ $-1.891M ▼ $-4.924M ▲ $-17.582M ▲ $-12.658M ▲
Q4-2024 $-26.438M ▼ $-17.886M ▼ $-1.44M ▲ $-10.194M ▼ $-29.52M ▼ $-19.326M ▼
Q3-2024 $-21.115M $-10.983M $-2.395M $-1.598M $-14.976M $-11.378M

Revenue by Products

Product Q1-2024Q2-2024Q3-2024
Advertising
Advertising
 $0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Skillz’s revenue climbed early after going public but has been shrinking meaningfully since 2021, leaving the company with a much smaller top line than at its peak. The good news is that gross profit has roughly followed revenue, meaning the core platform still generates attractive economics on each dollar of sales. The company has, however, reported operating losses every year, reflecting heavy spending on marketing, technology, and overhead. Those losses have narrowed over the last few years as management has cut costs and scaled back, but the business is still clearly not profitable. In simple terms, this looks like a company that pulled back from a high‑spend growth phase and is now trying to right‑size itself while operating on a smaller revenue base.

Balance Sheet

Balance Sheet The balance sheet shows a company that once held a much larger pool of assets but has since slimmed down. Cash remains a meaningful portion of total assets, which provides some financial flexibility, but that cushion is not growing and needs to support ongoing operating losses. Debt entered the picture after the company went public and now sits as a notable, though not overwhelming, claim on the business. Shareholders’ equity has trended downward as losses have accumulated, signaling erosion of the company’s financial buffer over time. Overall, the balance sheet is not alarming on its face, but it clearly does not have unlimited capacity to absorb many more years of sizable losses without some form of balance-sheet action.

Cash Flow

Cash Flow Skillz has consistently used, rather than generated, cash from its core operations, which means the business still depends on its cash reserves and past financing to fund itself. The encouraging sign is that annual cash burn has been coming down, reflecting tighter cost control and a more disciplined approach to spending. Capital expenditures are very light, so nearly all of the cash usage is tied to running and marketing the platform rather than building physical assets. Free cash flow has been negative each year, though gradually less so, which aligns with the income statement story of a company moving toward—but not yet reaching—cash break‑even. The key question going forward is whether improving cash discipline and any future revenue stabilization can close the remaining gap before the cash cushion becomes too thin.

Competitive Edge

Competitive Edge Skillz occupies a distinctive niche: it enables real‑money, skill‑based competitions on mobile games, rather than publishing its own titles in the traditional way. Its patented systems for distinguishing skill from chance, managing tournaments, and matching players give it a real, legally aware infrastructure that is not trivial to copy. The platform also benefits from network effects: more developers can attract more players, which in turn makes the platform more attractive to additional developers. At the same time, Skillz operates in a brutally competitive and rapidly changing mobile gaming and advertising ecosystem, facing competition for players’ time and developers’ attention from much larger companies. Regulatory scrutiny around real‑money gaming, store‑platform policies, and the cost of user acquisition all remain structural headwinds that can offset some of the advantages of its patents and early lead.

Innovation and R&D

Innovation and R&D Innovation is a clear strength for Skillz. Its SDK lets developers add tournaments, leaderboards, and anti‑cheat tools with relatively little friction, and its AI‑driven matchmaking is central to creating fair, engaging competitions. The acquisition of Aarki gives Skillz an in‑house advertising technology arm, allowing it to better connect user acquisition with monetization and potentially improve marketing efficiency. The planned developer accelerator, web‑based platform expansion, and ongoing updates for popular game engines all point to an active product roadmap and a desire to deepen its ecosystem. The flip side is that this level of innovation requires ongoing investment and careful execution; turning a rich pipeline of ideas into profitable, scalable growth remains an open challenge, not a solved problem.

Summary

Skillz today looks like a company in transition. The early growth story has given way to a smaller, more focused operation that is still loss‑making but clearly working to rein in spending and narrow its cash burn. Its technology platform, patent portfolio, and unique position in skill‑based, real‑money mobile competition give it a differentiated strategic profile compared with typical mobile game companies. However, declining revenue, a gradually thinning equity base, ongoing negative cash flow, and the need to resolve NYSE compliance issues highlight that execution risk is high. Going forward, the central issues to watch are whether Skillz can stabilize or re‑ignite growth, continue improving its cost structure, navigate regulatory and platform risks, and convert its substantial innovation efforts into a sustainable, self‑funding business model.

NEWS

November 6, 2025 · 7:15 AM UTC

Skillz Announces Preliminary Third Quarter 2025 Results

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November 3, 2025 · 9:30 AM UTC

Skillz to Report 2025 Third Quarter Results on Thursday, November 6, and Host Conference Call and Webcast

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October 18, 2025 · 10:00 AM UTC

INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Skillz Inc.- SKLZ

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October 13, 2025 · 2:00 PM UTC

INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Skillz Inc.- SKLZ

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October 8, 2025 · 5:44 PM UTC

INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Skillz Inc.- SKLZ

Read more