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skillz Skillz Q1 2021 Stockholder Letter May 4 , 2021 Fellow Stockholders , Skillz Inc. ( SKLZ ) delivered strong Q1 performance across the business , achieving our 21st consecutive quarter of revenue growth . We generated 92 % revenue growth year - over - year , driven in large part by 81 % growth in Paying Monthly Active Users ( MAU ) . Given our continued momentum , we are proud to announce that we are raising our 2021 annual revenue guidance to $ 375 million , representing 63 % year - over- year growth . As we look ahead , we are particularly excited about continuing to expand our platform from our first successful categories of games to all game categories and are now seeing early validation on our multi - year investment in synchronous player technology . This next feature set will expand our content library to include games ranging from first person shooters to real time strategy . We currently have a handful of developers actively testing synchronous content on our platform , and the initial results are already promising . Revenue ( $ Millions ) $ 100 $ 75 $ 50 $ 44 $ 35 $ 31 $ 26 $ 28 $ 25 $ 0 $ 68- $ 59 $ 60 Q119 Q219 Q319 Q419 Q120 Q220 Q320 Q420 Q121 As we define the future of interactive entertainment , we continue to make game - changing investments across our business to capture the hundreds of billions of dollars in global market opportunity . Starting with an outstanding team who works tirelessly to pioneer new features for our developers and forge new partnerships with leading brands , our Skillzians and our culture are the engine that drive our success . We are truly thankful for all they do . User Acquisition and Growth Our Focus on Paying MAU - $ 84 As mentioned above , our Paying MAU grew 81 % year - over - year . Paying MAU describes our " subscriber base ” and is perhaps the most important metric for our business . Paying MAU growth was driven by an increase in new paying users – which is a function of both the number of installs or downloads of games on our platform and the install - to - deposit rate . While new installs overall remained consistent with the prior year period , the quality of traffic and our ability to convert installs to payors increased substantially over the prior year quarter . We do not currently focus on MAU because monetizing non - paying users is a future opportunity . Today , Skillz generates nearly all its revenue from paying players , so this nuance is crucial to understanding our marketing strategy .