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2025-11-26 14:01 Skillz Inc. - Skillz Reports Record Q1 Revenue and Raises 2021 Guidance Skillz Reports Record Q1 Revenue and Raises 2021 Guidance May 4 , 2021 - First Quarter Revenue Hits $ 84 Million , Up 92 % Year - over - Year - Paying Monthly Active Users Grows 81 % Year - over - year - Raises Full Year 2021 Revenue Guidance to $ 375 Million SAN FRANCISCO -- ( BUSINESS WIRE ) -- Skillz Inc. ( NYSE : SKLZ ) ( “ Skillz ” or the " Company " ) , the leading mobile games platform bringing fair competition to players worldwide , today announced financial results for the first quarter ended March 31 , 2021 . " We are proud to report record - breaking first quarter results , giving us 21 consecutive quarters of revenue growth , ” said Andrew Paradise , CEO and founder of Skillz . “ Our performance and strong growth trajectory gave us the confidence to increase investment in Q1 and raise full year revenue guidance to $ 375 million . " First Quarter Financial Highlights • Revenue grew to $ 83.7 million during the first quarter of 2021 , up 92 % over the prior year . ⋅ Gross profit grew to $ 79.4 million during the first quarter of 2021 , up 95 % over the prior year . • Gross margin was 95 % during the first quarter of 2021 , 100 basis points higher than the prior year . • • Net loss was $ 53.6 million during the first quarter of 2021 , compared with $ 15.5 million in the prior year . Adjusted EBITDA was $ ( 31.1 ) million during the first quarter of 2021 , compared with $ ( 14.6 ) million in the prior year . . Gross Marketplace Volume ( GMV ) grew to $ 566.6 million during the first quarter of 2020 , up 85 % over the prior year . • Cash on balance sheet of $ 613 million and no debt at the end of first quarter 2021 . First Quarter Business Highlights • Paying MAU reached 0.467 million with a 17 % Paying to Playing MAU ratio which is 8x higher than the mobile gaming industry average² and highlights the platform's powerful competitive advantage over in - app purchases . • Launched developer progression , a feature that allows game developers to create in - game milestones for players , such as winning a reward for bowling perfect games . This enables developers to introduce new game design mechanics that enhance player retention and engagement . • Expanded Android footprint , growing revenue from Android users 2x faster than iOS . 1 Gross Marketplace Volume means the total entry fees paid by users for contests hosted on Skillz's platform . Total entry fees include entry fees paid by end - users using cash deposits , prior cash winnings from end - users ' accounts that have not been withdrawn , and end - user incentives used to enter paid entry fee contests . 2 Note : According to Wappier Gaming Apps , conversion rates were 1.6 % to 2 % in 2020 . Financial Outlook The Company is increasing 2021 revenue guidance to $ 375 million , which equates to 63 % year - over - year growth . Investor Conference Call and Webcast The Company will host a conference call and webcast on Tuesday , May 4 , 2021 , at 5:00 pm Eastern Time . The conference call can be accessed by registering online at webcast registration , at which time registrants will receive dial - in information as well as a passcode and registrant ID . At the time of the call , participants will dial in using the numbers in the confirmation email and enter their passcode and ID , upon which they will enter the conference call . Access to a live video - webcast of the discussion in listen - only mode will be available through the " Investors " section of the Skillz website at www.skillz.com . A replay of the webcast will be archived on the Company's website . About Skillz Inc. Skillz ( NYSE : SKLZ ) is the leading mobile games platform that connects players around the world in fair , fun , and meaningful competition . The Skillz platform helps developers build multi - million dollar franchises by enabling social competition in their games . Leveraging its patented technology , Skillz hosts billions of casual esports tournaments for millions of mobile players worldwide , and distributes millions in prizes each month . Skillz has earned recognition as one of Fast Company's Most Innovative Companies , CNBC's Disruptor 50 , Forbes ' Next Billion - Dollar Startups , and the # 1 fastest- growing company in America on the Inc. 5000. www.skillz.com https://investors.skillz.com/news/news-details/2021/Skillz-Reports-Record-Q1-Revenue-and-Raises-2021-Guidance/default.aspx 1/4