Overview

• Skillz Q2 revenue grows 8% yr/yr to $27.4 mln

• Net loss for Q2 stands at $8.9 mln, adjusted EBITDA loss $10.4 mln

• PMAU rises 20% yr/yr, highest since Q3 2023, reflecting improved engagement

Outlook

• Skillz expects strategic initiatives to drive profitable revenue growth

• Company focuses on disciplined operating expense management

• Skillz remains committed to long-term shareholder value creation

• Company has financial flexibility with $238 mln cash reserves

Result Drivers

• REVENUE GROWTH - Co reports 8% yr/yr revenue growth driven by increased player engagement and retention

• USER ENGAGEMENT - 20% yr/yr increase in paying monthly active users attributed to improved engagement efforts

• DEVELOPER INVESTMENT - $75 mln Developer Accelerator program underway to expand game offerings

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the online services peer group is "buy"

• Wall Street's median 12-month price target for Skillz Inc is $10.25, about 31.1% above its August 6 closing price of $7.06

Press Release: ID:nBw6YgDNda

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)