Skillz Outlook Outperforms Analysts’ Expectations for First Quarter 2021 and Sets Date for Earnings Call
25 March 2021 - 11:30PM
Business Wire
Strong Player Growth Drives Record Revenue
Skillz Inc. (NYSE: SKLZ), the leading mobile games platform
bringing fair competition to players worldwide, released its
outlook for the first quarter ending March 31, 2021 today. The
Company also announced that it will release its fiscal first
quarter financial results on May 4, 2021 after the end of trading
on the New York Stock Exchange.
Q1 2021 SKLZ Outlook
Analyst Expectations (1)
Skillz Outlook
Revenue
$72.2 - $79.6 million
$80 million
Adj. EBITDA (2)
($21.8) - ($24.5) million
($37) million
MAU (3)
2.4 - 3.2 million
2.6 million
Paying MAU (4)
0.442 - 0.469 million
0.45 million
(1) Range of analyst expectations from publicly available
research reports published by Canaccord Genuity, Stifel, Wedbush
Securities, Wells Fargo Securities, and UBS Securities Investment
Bank.
(2) Adjusted EBITDA is defined as net loss before interest,
other non-operating expense or income, provision for income taxes,
and depreciation and amortization, and further adjusted for
stock-based compensation and other special items determined by
management, including, but not limited to, fair value adjustments
for certain financial liabilities (including derivatives)
associated with debt and equity transactions and impairment charges
as they are not indicative of business operations. The Company does
not provide a reconciliation of this forward-looking measure
because it is an estimate and a reconciliation to the most directly
comparable financial measures calculated and presented in
accordance with GAAP will be provided in connection with reporting
Q1 financial results.
(3) “Monthly Active Users” or “MAUs” means the number of
end-users who entered into a paid or free contest hosted on
Skillz’s platform at least once in a month, averaged over each
month in the period.
(4) “Paying Monthly Active Users” or “pMAUs” means the number of
end-users who entered into a paid contest hosted on Skillz’s
platform at least once in a month, averaged over each month in the
period.
Skillz’s first quarter outlook exhibits strong momentum
attributed to double-digit growth in payors, resulting from both an
increase in new installs and rising conversion of existing players
into payors.
Skillz will host a conference call and audio webcast on May 4,
2021 at 5:00pm Eastern Time, during which management will discuss
the first quarter results and provide commentary on business
performance. A question and answer session with analysts and
investors will follow the prepared remarks.
The conference call can be accessed by registering online for
the Skillz webcast, 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 audio-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.
The foregoing outlook reflects preliminary estimates based on
information available as of March 24, 2021 and is subject to change
following completion of Skillz’s quarter-end review process.
About Skillz Inc.
Skillz is the leading mobile games platform that connects
players 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
Forward-Looking Statements
This press release includes “forward-looking statements” within
the meaning of the “safe harbor” provisions of the United States
Private Securities Litigation Reform Act of 1995. The Company’s
actual results may differ from its expectations, estimates, and
projections and, consequently, you should not rely on these
forward-looking statements as predictions of future events. Words
such as “expect,” “estimate,” “project,” “budget,” “forecast,”
“anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,”
“believes,” “predicts,” “potential,” “continue,” and similar
expressions (or the negative versions of such words or expressions)
are intended to identify such forward-looking statements.
These forward-looking statements involve significant risks and
uncertainties that could cause the Company’s actual results to
differ materially from those discussed in the forward-looking
statements. Most of these factors are outside of the Company’s
control and are difficult to predict. Factors that may cause such
differences include, but are not limited to, the ability of Skillz
to: realize the benefits expected from the business combination;
effectively compete in the global entertainment and gaming
industries; attract and retain successful relationships with the
third party developers that develop and update all of the games
hosted on Skillz’s platform; comply with laws and regulations
applicable to its business; and as well as other risks and
uncertainties indicated from time to time in the Company’s SEC
filings, including those under “Risk Factors” therein, which are
available on the SEC’s website at www.sec.gov. Additional
information will be made available in other filings that the
Company makes from time to time with the SEC. In addition, any
forward-looking statements contained in this press release are
based on assumptions that the Company believes to be reasonable as
of this date. The Company undertakes no obligation to update any
forward-looking statements to reflect events or circumstances after
the date of this press release or to reflect new information or the
occurrence of unanticipated events, except as required by law.
Source: Skillz Inc.
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version on businesswire.com: https://www.businesswire.com/news/home/20210325005347/en/
Contacts Investors: ir@skillz.com Media:
skillz@methodcommunications.com
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