A Business at a Glance
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TABLE OF CONTENTS In this Annual Report, when we use the terms the “Company,” “Skillz,” “we,” “us” and “our,” unless otherwise indicated or the context otherwise requires, we are referring to Skillz Inc. and its wholly-owned subsidiaries. We were founded on one simple belief: competition holds the power to unleash possibilities in all of us. We are all born with skills and when we are able to apply those skills through competition, we can achieve great things. That is the guiding principle behind why we are advancing competitive mobile gaming. Our Company’s mission is to bring out the best in everyone through competition. We believe our business model is unique in that we create both opportunities for game developers to turn their craft into financial success and opportunities for players to experience wins through our platform. Our proprietary multi-player platform, a form of social media solution, provides interactive entertainment through competitive game content.
| Metric | TTM | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Revenue | 92M | 93M | 152M | 270M | 380M | 230M |
| Net Income | -78M | -47M | -101M | -439M | -188M | -146M |
| EPS | $-4.75 | $-2.62 | $-4.85 | $-21.41 | $-14.20 | $-9.80 |
| Free Cash Flow | -79M | -7.7M | -85M | -181M | -183M | -59M |
| ROIC | -133.9% | -15.7% | -30.3% | -79.6% | -21.2% | -27.9% |
| Gross Margin | - | 85.6% | 89.9% | 88.6% | 93.4% | 94.7% |
| Debt/Equity | 1.00 | 0.73 | 0.59 | 0.98 | 0.46 | 0.00 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | -72M | -47M | -114M | -421M | -294M | -100M |
| Operating Margin | -78.0% | -50.1% | -75.2% | -156.2% | -77.3% | -43.3% |
| ROE | -60.9% | -24.4% | -48.2% | -157.6% | -30.8% | -256.2% |
| Shares Outstanding | 12M | 18M | 21M | 20M | 13M | 15M |
| Metric | 2019 | 2020 | 2021 | 2022 | |||
|---|---|---|---|---|---|---|---|
| Income Statement | |||||||
| Revenue | 120M | 230M | 380M | 270M | 152M | 93M | 92M |
| Gross Margin | 95.2% | 94.7% | 93.4% | 88.6% | 89.9% | 85.6% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| EBIT | -25M | -100M | -294M | -421M | -114M | -47M | -72M |
| Op. Margin | -20.7% | -43.3% | -77.3% | -156.2% | -75.2% | -50.1% | -78.0% |
| Net Income | -24M | -146M | -188M | -439M | -101M | -47M | -78M |
| Net Margin | -19.7% | -63.2% | -49.4% | -162.7% | -66.6% | -50.4% | -84.0% |
| Non-Recurring | 0 | 0 | 0 | 168M | 3.3M | 0 | 0 |
| Returns on Capital | |||||||
| ROIC | -83.4% | -27.9% | -21.2% | -79.6% | -30.3% | -15.7% | -133.9% |
| ROE | -126.5% | -256.2% | -30.8% | -157.6% | -48.2% | -24.4% | -60.9% |
| ROA | -60.7% | -51.5% | -18.4% | -70.6% | -25.6% | -12.2% | -25.1% |
| Cash Flow | |||||||
| Op. Cash Flow | -22M | -56M | -180M | -180M | -72M | -7.1M | -76M |
| Free Cash Flow | -25M | -59M | -183M | -181M | -85M | -7.7M | -79M |
| Owner Earnings | -24M | -82M | -252M | -306M | -117M | -39M | -107M |
| CapEx | 3.2M | 3.2M | 3.2M | 1.9M | 13M | 668K | 2.8M |
| Maint. CapEx | 711K | 1.6M | 12M | 18M | 2.0M | 1.7M | 1.7M |
| Growth CapEx | 2.5M | 1.6M | 0 | 0 | 11M | 0 | 1.1M |
| D&A | 711K | 1.6M | 12M | 18M | 2.0M | 1.7M | 1.7M |
| CapEx/OCF | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Capital Allocation | |||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 1.3M | 0 | 0 | 13M | 19M | 19M |
| Buyback Yield | N/A | 0.0% | N/A | N/A | 9.7% | 20.8% | 59.2% |
| Stock-Based Comp | 1.2M | 24M | 60M | 108M | 44M | 30M | 30M |
| Debt Repayment | 3.5M | 10M | 0 | 7.3M | 136M | 0 | 0 |
| Balance Sheet | |||||||
| Net Debt | -16M | -263M | 38M | -90M | -178M | -146M | -85M |
| Cash & Equiv. | N/A | N/A | N/A | N/A | N/A | N/A | 212M |
| Long-Term Debt | 9.6M | 0 | 279M | 273M | 124M | 126M | 126M |
| Debt/Equity | 0.52 | 0.00 | 0.46 | 0.98 | 0.59 | 0.73 | 1.00 |
| Interest Coverage | -9.9 | -75.2 | -240.4 | -165.0 | -7.5 | N/A | N/A |
| Equity | 19M | 57M | 609M | 278M | 210M | 173M | 127M |
| Total Assets | 39M | 282M | 1.0B | 621M | 396M | 374M | 309M |
| Total Liabilities | 20M | 226M | 412M | 343M | 185M | 201M | 182M |
| Intangibles | N/A | N/A | 86M | N/A | N/A | N/A | N/A |
| Retained Earnings | -90M | -238M | -434M | -873M | -974M | -1.0B | -1.0B |
| Working Capital | 25M | 226M | 490M | 452M | 265M | 237M | 237M |
| Current Assets | 35M | 273M | 590M | 502M | 315M | 303M | 303M |
| Current Liabilities | 10M | 47M | 100M | 49M | 50M | 66M | 66M |
| Per Share Data | |||||||
| EPS | -1.80 | -9.80 | -14.20 | -21.41 | -4.85 | -2.62 | -4.75 |
| Owner EPS | -1.82 | -5.50 | -19.05 | -14.91 | -5.62 | -2.17 | -9.20 |
| Book Value | 1.42 | 3.82 | 46.03 | 13.58 | 10.07 | 9.69 | 10.89 |
| Cash Flow/Share | -1.67 | -3.79 | -13.61 | -8.76 | -3.43 | -0.40 | -6.49 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 13.1M | 14.8M | 13.2M | 20.5M | 20.9M | 17.9M | 11.7M |
| Valuation | |||||||
| P/E Ratio | N/A | N/A | N/A | N/A | N/A | N/A | -0.6 |
| P/FCF | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Book | N/A | 101.5 | 3.2 | 0.7 | 0.6 | 0.5 | 0.3 |
| Price/Sales | N/A | 15.8 | 12.0 | 3.3 | 1.3 | 1.2 | 0.4 |
| FCF Yield | N/A | -1.0% | -9.3% | -95.2% | -63.7% | -8.3% | -240.1% |
| Market Cap | N/A | 5.8B | 2.0B | 191M | 133M | 93M | 33M |
| Avg. Price | N/A | 245.33 | 346.04 | 43.52 | 9.82 | 6.04 | 2.80 |
| Year-End Price | N/A | 388.20 | 148.60 | 9.30 | 6.38 | 5.21 | 2.80 |
Skillz Inc. passes 2 of 9 quality checks, indicating weak fundamentals.
The company's 5-year average gross margin is 90.4%. Total shareholder yield (buybacks) is 59.2%.
Skillz Inc. (SKLZ) has a 5-year average return on invested capital (ROIC) of -34.9%. This is below average and may indicate limited pricing power.
Skillz Inc. (SKLZ) has a market capitalization of $33M. It is classified as a small-cap stock.
Skillz Inc. (SKLZ) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 59.17%.
Skillz Inc. (SKLZ) operates in the Services-Computer Processing & Data Preparation industry, within the Technology sector.
Skillz Inc. (SKLZ) reported annual revenue of $93 million in its most recent fiscal year, based on SEC EDGAR filings.
Skillz Inc. (SKLZ) has a net profit margin of -50.4%. The company is currently unprofitable.
Skillz Inc. (SKLZ) generated $-8 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
Skillz Inc. (SKLZ) has a debt-to-equity ratio of 0.73. This indicates moderate leverage.
Skillz Inc. (SKLZ) reported earnings per share (EPS) of $-2.62 in its most recent fiscal year.
Skillz Inc. (SKLZ) has a return on equity (ROE) of -24.4%. A negative ROE may indicate losses or negative equity.
Skillz Inc. (SKLZ) has a 5-year average gross margin of 90.4%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 6 years of financial data for Skillz Inc. (SKLZ), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Skillz Inc. (SKLZ) has a book value per share of $9.69, based on its most recent annual SEC filing.