Skillz | 10-K: FY2024 Revenue Misses Estimate at USD 92.87 M

LB filings
2025.11.06 23:34
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Revenue: As of FY2024, the actual value is USD 92.87 M, missing the estimate of USD 100.13 M.

EPS: As of FY2024, the actual value is USD -2.62, missing the estimate of USD -2.3833.

EBIT: As of FY2024, the actual value is USD -46.8 M.

Skillz Segment

  • Revenue: $82.4 million in 2024, a decrease of $56.8 million from $139.2 million in 2023, primarily due to a decrease in player base as monthly active users decreased from 1.0 million in 2023 to 0.8 million in 2024.
  • Adjusted EBITDA: Loss of $53.2 million in 2024 compared to a loss of $65.0 million in 2023, primarily due to lower segment revenue, partially offset by reduced research and development, sales and marketing, and administrative costs, together with a gain settlement.

Aarki Segment

  • Revenue: $10.9 million in 2024, a decrease of $2.4 million from $13.2 million in 2023, primarily due to lower advertising revenue.
  • Adjusted EBITDA: Loss of $7.6 million in 2024 compared to a loss of $3.8 million in 2023, primarily due to the decline in segment revenue.

Outlook / Guidance

  • The company is focused on driving higher efficiency from its marketing investment by reducing spend on low-return engagement marketing programs and optimizing user acquisition efficiency.
  • The company plans to deploy up to $75 million over the next three years through the Skillz Developer Program to support approximately 25 games, aiming to grow the monetization of its mobile gaming ecosystem.
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