Overview

* Skillz ( SKLZ ) 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 ( SKLZ ) expects strategic initiatives to drive profitable revenue growth

* Company focuses on disciplined operating expense management

* Skillz ( SKLZ ) 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

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 $27.37

Revenue mln

Q2 Net -$8.92

Income mln

Q2 -$10.40

Adjusted mln

EBITDA

Q2 Gross $24.20

Profit mln

Q2 -$6.58

Operatin mln

g Income

Q2 -$8.94

Pretax mln

Profit

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 ( SKLZ ) is $10.25, about 31.1% above its August 6 closing price of $7.06

Press Release:

(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.)