NYSE$SKLZ
Skillz Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Skillz's first quarter results for 2024 were announced, revealing a mix of strategic execution challenges and ongoing efforts to improve financial performance.
Skillz reported a revenue of $25.2 million and a net loss of $26.7 million for Q1 2024. The company is focused on resolving onboarding issues, improving customer acquisition cost payback, and managing operating expenses to achieve top-line growth and positive Adjusted EBITDA.
- Revenue was reported at $25.2 million.
- Gross profit reached $21.8 million.
- Net loss amounted to $26.7 million.
- Paying monthly active users (PMAU) totaled 121,000 with an ARPPU of $69.8.
Headline financials
Revenue & EPS history
Skillz · Revenue · Quarterly
$25.2M
Revenue by segment
Skillz · $29.4M total across 2 segments · Q1 2026
- Skillz Platform$19.7M—66.8%
- RZR Advertising$9.76M—33.2%
Forward guidance
Skillz is focused on improving customer acquisition, increasing user engagement, and managing operating expenses to drive profitable growth and achieve positive Adjusted EBITDA on a run-rate basis by late this year.
Tailwinds
- Transitioning efforts toward increasing spend to facilitate growth in paying users.
- Focusing on driving value from user acquisition spend.
- Introducing new features to drive higher player retention and engagement.
- Aiming to generate positive Adjusted EBITDA on a run-rate basis by late this year.
- Maintaining a strong balance sheet with over $300 million in cash and restricted cash.
Headwinds
- Experienced short-term setbacks with new customer onboarding in the period.
- Preliminary results are subject to revision as management completes its internal review.
- Independent registered public accounting firm has not finalized its review of these preliminary financial results.
- Company is still in the process of completing its financial statements for the fiscal year ended December 31, 2023.
- Received a notice from the New York Stock Exchange for not being in compliance with Section 802.01E of the NYSE Listed Company Manual due to the failure to timely file the Form 10-K.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2024
-3.8%
Avg return
Earnings day
-0.6%
Avg return
5 days after
+4.2%
Avg return
30 days after
27%
7 / 26 earnings
Positive
+15.5%
Q4 2022
Best reaction
-19.9%
Q4 2021
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -4.8% | +11.2% | +33.0% | |
| Q4 2025 | -4.6% | -3.9% | +189.6% | |
| Q3 2025 | -0.8% | -0.6% | -11.4% | |
| Q2 2025 | +14.0% | +29.8% | +11.9% | |
| Q1 2025 | +6.2% | +15.3% | +19.3% | |
| Q4 2024 | -14.1% | -10.6% | -18.8% | |
| Q3 2024 | -9.0% | -11.5% | -0.9% | |
| Q2 2024 | -5.4% | -6.2% | -8.5% | |
| Q1 2024 | -13.5% | +2.4% | +11.0% | |
| Q4 2023 | -11.7% | -12.6% | -12.8% | |
| Q3 2023 | -14.9% | -6.7% | +10.8% | |
| Q2 2023 | -14.4% | -12.9% | -28.9% | |
| Q1 2023 | -14.2% | -14.8% | -8.0% | |
| Q4 2022 | +15.5% | +14.0% | +21.2% | |
| Q3 2022 | -1.0% | +2.9% | -3.7% | |
| Q2 2022 | -8.7% | +0.0% | -27.3% | |
| Q1 2022 | -3.3% | -20.0% | -22.3% | |
| Q4 2021 | -19.9% | -13.9% | -15.0% | |
| Q3 2021 | -1.8% | +6.3% | -30.6% | |
| Q2 2021 | -14.6% | -16.1% | -12.9% | |
| Q1 2021 | -6.3% | -4.9% | +28.5% | |
| Q4 2019 | +13.2% | +5.7% | -37.9% | |
| Q4 2020 | +9.5% | +24.0% | -31.9% | |
| Q3 2020 | +4.3% | +6.7% | +39.3% | |
| Q2 2020 | -0.3% | -1.9% | +11.0% | |
| Q1 2020 | +1.5% | +2.0% | +4.0% |
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