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Skillz Q3 2021 Stockholder Letter November 3 , 2021 Fellow Stockholders , Skillz ( NYSE : SKLZ ) delivered strong revenue growth for the third quarter of 2021 marking our 23rd consecutive quarter of revenue outperformance . We generated 70 % revenue growth year - over - year , led in large part by 47 % year - over - year growth in Paying Monthly Active Users ( PMAU ) . The company was able to increase User Acquisition ( UA ) marketing investment to acquire new users while maintaining high efficiency , as several initiatives drove lower Cost Per Install ( CPI ) from the prior quarter . We achieved this improvement without meaningful benefits from our acquisition of Aarki , which we closed in Q3 , as the migration of our advertising spend from third parties to the Aarki platform is still underway . $ 125 Revenue ( $ M ) $ 102 $ 100 $ 89 $ 84 $ 75 $ 68 $ 59 $ 60 $ 50 $ 44 $ 35 $ 31 $ 25 Paying MAU ( M ) 0.6 0.4 0.177 0.2 0.165 0.391 0.346 0.302 0.258 0.509 0.467 0.463 $ 0 Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 0.0 Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 Skillz continues to be recognized as one of the tech sector's fastest - rising companies , attracting the best and brightest to its ranks . In Q3 , the company was featured in the Top 50 ranking on Fast Company's 2021 list of " Best Workplaces for Innovators . " The list highlights those U.S. companies demonstrating a deep commitment to encouraging innovation at every level . FASTOMPANY To put a fine point on this , the company recently announced the hiring of seasoned executive Vatsal Bhardwaj as Chief Product Officer . Bhardwaj joins Skillz from Amazon , where he led the team responsible for developing new services to transform how large- scale multiplayer games are developed , operated , scaled , and distributed using the cloud . 1