| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 29.11 | 32.9% |
| Total Income | 29.11 | 32.9% |
| Expenditure | 37.86 | 1.3% |
| PBT | -10.87 | 36.4% |
| Net Profit | -10.95 | 36.1% |
| OPM | -30.06% | 40.60pp |
| NPM | -37.60% | 40.68pp |
| EPS | -0.69 | 34.3% |
Skillz Reports Q1 2026 Revenue of $29.1 Million
16 May 2026 · 16 May, 1:49 am
Summary
Skillz Inc. reported its financial results for the first quarter ended March 31, 2026. The company's revenue for the quarter was $29.1 million, with a gross profit of $25.5 million. The net loss for the quarter was $10.9 million, and the adjusted EBITDA loss was $12.8 million. The company ended the quarter with $185 million in cash and is evaluating strategic alternatives to optimize its capital structure.
Key Highlights
- 1
Skillz reported revenue of $29.1 million for the first quarter of 2026.
- 2
Gross profit for Q1 2026 was $25.5 million.
- 3
The company's net loss for the quarter was $10.9 million.
- 4
Adjusted EBITDA loss for Q1 2026 was $12.8 million.
- 5
Paying monthly active users (PMAUs) totaled 128 thousand in Q1 2026.
- 6
Average revenue per PMAU (ARPPU) was $76.0 for the first quarter of 2026.
- 7
Total operating expenses amounted to $41.8 million for the quarter.
Management Comments
Andrew Paradise
"Our plan was to improve our operating businesses and to stop fraud in our core industry. In Q1, we made progress in both." "In April, a unanimous federal jury in the Southern District of New York found Papaya Gaming liable for false advertising and awarded Skillz $420 million in actual damages, the largest such verdict in U.S. history under the Lanham Act, with a total potential award ranging from $420 million to over $1.2 billion depending on the Court's final determinations. The parties have been ordered to engage in settlement discussions, and we expect the Court to rule on the final award in June. We will update our shareholders when we know more."
Gaetano Franceschi
"Our Q1 results reflect stronger fundamentals across both the Skillz and RZR businesses. Excluding litigation-related expenses, adjusted EBITDA improved 15% quarter-over-quarter on a normalized basis, and RZR delivered its third consecutive quarter of profitability. We ended the quarter with $185 million in cash and continue to evaluate strategic alternatives to optimize our capital structure as we progress toward sustained profitability."
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