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- Company Completes Aarki Acquisition and Investment in Exit Games in July - Updates Organic Revenue Guidance Up to $ 376 Million SAN FRANCISCO – August 3 , 2021 – 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 second quarter ended June 30 , 2021 . ● Skillz Reports Record Q2 Revenue and Updates 2021 Guidance " Skillz is pleased to report strong revenue growth for the 22nd consecutive quarter and the closing of our acquisition of marketing platform Aarki , which will increase the efficiency of our user acquisition spend , ” said Andrew Paradise , CEO and founder of Skillz . " Together with our partners , we continue to accelerate our vision of connecting the world through the power of competition . " Q2 Financial Highlights Revenue grew to $ 89.5 million during the second quarter of 2021 , up 52 % over the prior year . Gross profit grew to $ 85.1 million during the second quarter of 2021 , up 52 % over the prior year . Gross margin was 95 % during the second quarter of 2021 , in line with prior year . Net loss increased to $ 79.6 million during the second quarter of 2021 , compared with $ 20.2 million in the prior year . Adjusted EBITDA was $ ( 31.6 ) million during the second quarter of 2021 , $ 28.3 million lower than the prior year . Gross Marketplace Volume¹ ( GMV ) grew to $ 608.5 million during the second quarter of 2021 , up 47 % over the prior year . Cash on balance sheet of $ 692.8 million and no debt at the end of second quarter 2021 . Q2 Business Highlights Acquired Aarki , a growing demand - side platform with more than 465 million monthly users , rich data engines , and proprietary machine - learning algorithms that deliver industry - leading ROI to its advertiser customers . Aarki broadens Skillz's footprint by combining Skillz's leading monetization with Aarki's advanced User Acquisition capabilities . ● 22nd Consecutive Quarter of Growth ● Formed a strategic alliance with Exit Games , a private German company whose advanced technology allows developers to create and host real - time , synchronous , multiplayer games . Skillz's $ 50 million investment for a minority stake in Exit Games will give the Company permanent access to Exit's technology to power its esports tournaments and platform exclusively , as well as dramatically accelerate the development of multiplayer synchronous content on the Skillz platform . Officially launched our multi - phase partnership with the NFL , kicking off a developer challenge to identify new NFL - branded mobile game ( s ) . Hundreds of game proposals were submitted , and in collaboration with the NFL , Skillz reviewed the concepts and 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 .