Skillz Inc Financials
This page shows Skillz Inc (SKLZ) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 8 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Skillz’s high-gross-margin platform model still behaves like a cash-funded operation, with overhead and liquidity driving the economics.
FY2024’s near-cash-breakeven was not durable; FY2025 revenue recovered to$104.5M from$92.9M . At the same time, operating cash flow fell to-$68.9M and nearly matched the-$70.4M net loss, showing losses again translated almost directly into cash consumption. That weakens the idea that FY2024 marked a lasting cost reset.
The model remains gross-margin rich but expense-heavy: FY2025 gross margin stayed at
The balance sheet is simpler but tighter. Long-term debt fell from
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Skillz Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Skillz Inc has an operating margin of -61.2%, meaning the company retains $-61 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from -50.1% the prior year.
Skillz Inc's revenue grew 12.5% year-over-year to $104.5M, a solid pace of expansion. This earns a growth score of 5/100.
Skillz Inc carries a low D/E ratio of 0.00, meaning only $0.00 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.
Skillz Inc's current ratio of 1.20 is below the typical benchmark, resulting in a score of 19/100. However, the company holds substantial cash reserves (108% of current liabilities), which buffers actual liquidity risk. Large mature operators often run tight current ratios by design.
While Skillz Inc generated -$68.9M in operating cash flow, capex of $1.4M consumed most of it, leaving -$70.3M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
Skillz Inc generates a -63.0% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from -27.0% the prior year.
Skillz Inc passes 4 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Skillz Inc generates $0.98 in operating cash flow (-$68.9M OCF vs -$70.4M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Skillz Inc earns $-4.2 in operating income for every $1 of interest expense (-$63.9M vs $15.2M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Skillz Inc generated $104.5M in revenue in fiscal year 2025. This represents an increase of 12.5% from the prior year.
Skillz Inc's EBITDA was -$62.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 39.5% from the prior year.
Skillz Inc reported -$70.4M in net income in fiscal year 2025. This represents a decrease of 50.5% from the prior year.
Skillz Inc earned $-4.51 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 72.1% from the prior year.
Cash & Balance Sheet
Skillz Inc generated -$70.3M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 808.4% from the prior year.
Skillz Inc held $194.5M in cash against $0 in long-term debt as of fiscal year 2025.
Margins & Returns
Skillz Inc's gross margin was 87.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 1.9 percentage points from the prior year.
Skillz Inc's operating margin was -61.2% in fiscal year 2025, reflecting core business profitability. This is down 11.1 percentage points from the prior year.
Skillz Inc's net profit margin was -67.4% in fiscal year 2025, showing the share of revenue converted to profit. This is down 17.0 percentage points from the prior year.
Skillz Inc's ROE was -63.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 35.9 percentage points from the prior year.
Capital Allocation
Skillz Inc invested $20.6M in research and development in fiscal year 2025. This represents an increase of 23.1% from the prior year.
Skillz Inc spent $9.3M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 52.2% from the prior year.
Skillz Inc invested $1.4M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 110.0% from the prior year.
SKLZ Income Statement
| Metric | Q2'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $29.1M-3.0% | $30.0M+9.6% | $27.4M+8.6% | $25.2M+15.1% | $21.9M+23.2% | $17.8M-27.7% | $24.6M-2.9% | $25.3M |
| Cost of Revenue | $3.6M+2.5% | $3.5M+4.6% | $3.4M+4.2% | $3.2M+8.6% | $3.0M-8.3% | $3.2M-4.1% | $3.4M+0.8% | $3.3M |
| Gross Profit | $25.5M-3.7% | $26.5M+10.3% | $24.0M+9.2% | $22.0M+16.2% | $18.9M+30.2% | $14.5M-31.4% | $21.2M-3.5% | $21.9M |
| R&D Expenses | $5.1M-8.3% | $5.5M+1.4% | $5.4M+12.5% | $4.8M+0.5% | $4.8M+54.9% | $3.1M-34.4% | $4.7M+11.0% | $4.3M |
| SG&A Expenses | $19.4M+8.8% | $17.9M+2.1% | $17.5M+4.6% | $16.7M-12.5% | $19.1M-6.6% | $20.4M+12.6% | $18.1M+5.3% | $17.2M |
| Operating Income | -$8.8M+46.0% | -$16.2M+0.5% | -$16.3M-1.8% | -$16.0M-3.3% | -$15.5M+36.1% | -$24.2M-15.4% | -$21.0M-182.0% | $25.6M |
| Interest Expense | $3.8M+0.4% | $3.8M+0.4% | $3.8M+0.3% | $3.8M+0.2% | $3.8M+0.2% | $3.8M+0.5% | $3.8M-0.1% | $3.8M |
| Income Tax | $74K+54.2% | $48K+20.0% | $40K+310.5% | -$19K-148.7% | $39K+150.6% | -$77K-340.6% | $32K-56.2% | $73K |
| Net Income | -$10.9M+38.9% | -$17.9M-2.6% | -$17.4M+2.7% | -$17.9M-4.6% | -$17.1M+31.4% | -$25.0M-18.4% | -$21.1M-181.1% | $26.0M |
| EPS (Diluted) | $-0.69 | N/A | $-1.14+1.7% | $-1.16-10.5% | $-1.05 | N/A | $-1.20-183.3% | $1.44 |
SKLZ Balance Sheet
| Metric | Q2'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $287.3M-2.1% | $293.5M-5.1% | $309.2M-5.8% | $328.2M-8.8% | $359.9M-3.8% | $374.3M-4.1% | $390.2M-3.1% | $402.9M |
| Current Assets | $209.1M-3.4% | $216.5M-7.1% | $233.1M-8.3% | $254.2M-11.6% | $287.5M-5.2% | $303.2M-5.8% | $321.8M-3.9% | $334.8M |
| Cash & Equivalents | $185.4M-4.7% | $194.5M-8.2% | $211.8M-7.4% | $228.7M-10.1% | $254.3M-6.5% | $271.9M-9.8% | $301.4M-4.7% | $316.4M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $16.1M+11.4% | $14.4M+1.0% | $14.3M+58.9% | $9.0M+10.5% | $8.1M+66.2% | $4.9M-7.2% | $5.3M+24.8% | $4.2M |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $185.1M+1.9% | $181.6M-0.2% | $182.1M-3.1% | $187.9M-7.5% | $203.1M+0.9% | $201.2M+5.5% | $190.7M+1.6% | $187.6M |
| Current Liabilities | $184.3M+2.0% | $180.7M+235.0% | $53.9M-11.5% | $60.9M-10.0% | $67.7M+2.8% | $65.9M+18.7% | $55.5M+5.9% | $52.4M |
| Long-Term Debt | $128.1M | $0-100.0% | $127.1M+0.4% | $126.6M+0.4% | $126.1M+0.4% | $125.7M+0.4% | $125.2M+0.3% | $124.8M |
| Total Equity | $102.2M-8.6% | $111.8M-12.1% | $127.2M-9.4% | $140.3M-10.5% | $156.8M-9.4% | $173.0M-13.2% | $199.5M-7.3% | $215.2M |
| Retained Earnings | -$1.1B-1.0% | -$1.1B-1.7% | -$1.1B-1.7% | -$1.1B-1.7% | -$1.0B-1.7% | -$1.0B-2.5% | -$996.3M-2.2% | -$975.1M |
SKLZ Cash Flow Statement
| Metric | Q2'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$6.7M+46.9% | -$12.7M+48.2% | -$24.5M-17.7% | -$20.8M-90.4% | -$10.9M+43.9% | -$19.5M-77.5% | -$11.0M-139.5% | $27.8M |
| Capital Expenditures | $363K+151.5% | -$705K-363.1% | $268K-58.6% | $648K-45.6% | $1.2M+288.0% | -$634K-263.4% | $388K-2.8% | $399K |
| Free Cash Flow | -$7.1M+47.0% | -$13.4M+45.9% | -$24.8M-15.4% | -$21.5M-77.0% | -$12.1M+39.8% | -$20.1M-77.0% | -$11.4M-141.5% | $27.4M |
| Investing Cash Flow | -$965K+31.8% | -$1.4M-9.2% | -$1.3M+23.9% | -$1.7M+1.5% | -$1.7M-44.9% | -$1.2M+50.2% | -$2.4M-217.3% | $2.0M |
| Financing Cash Flow | -$485K+82.7% | -$2.8M-3911.4% | -$70K+97.8% | -$3.2M+35.6% | -$4.9M+44.2% | -$8.8M-452.6% | -$1.6M+60.3% | -$4.0M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $4.7M+208.5% | $1.5M+10126.7% | $15K-99.5% | $3.0M-37.1% | $4.7M-44.0% | $8.4M+6154.8% | $135K-96.5% | $3.8M |
SKLZ Financial Ratios
| Metric | Q2'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 87.6%-0.7pp | 88.3%+0.6pp | 87.7%+0.5pp | 87.2%+0.8pp | 86.5%+4.7pp | 81.8%-4.5pp | 86.3%-0.5pp | 86.8% |
| Operating Margin | -30.1%+23.9pp | -53.9%+5.5pp | -59.4%+3.9pp | -63.4%+7.3pp | -70.7%+65.7pp | -136.4%-50.9pp | -85.5%-186.6pp | 101.2% |
| Net Margin | -37.6%+22.0pp | -59.7%+4.1pp | -63.7%+7.4pp | -71.1%+7.2pp | -78.3%+62.4pp | -140.7%-54.7pp | -86.0%-188.9pp | 103.0% |
| Return on Equity | -10.7%+5.3pp | -16.0%-2.3pp | -13.7%-0.9pp | -12.8%-1.8pp | -10.9%+3.5pp | -14.4%-3.9pp | -10.6%-22.7pp | 12.1% |
| Return on Assets | -3.8%+2.3pp | -6.1%-0.5pp | -5.6%-0.2pp | -5.5%-0.7pp | -4.8%+1.9pp | -6.7%-1.3pp | -5.4%-11.9pp | 6.5% |
| Current Ratio | 1.13-0.1 | 1.20-3.1 | 4.32+0.2 | 4.17-0.1 | 4.24-0.4 | 4.60-1.2 | 5.80-0.6 | 6.38 |
| Debt-to-Equity | 1.25+1.3 | 0.00-1.0 | 1.00+0.1 | 0.90+0.1 | 0.80+0.1 | 0.73+0.1 | 0.63+0.0 | 0.58 |
| FCF Margin | -24.4%+20.3pp | -44.6%+45.8pp | -90.5%-5.3pp | -85.1%-29.7pp | -55.4%+57.9pp | -113.3%-67.0pp | -46.3%-154.6pp | 108.3% |
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Frequently Asked Questions
What is Skillz Inc's annual revenue?
Skillz Inc (SKLZ) reported $104.5M in total revenue for fiscal year 2025. This represents a 12.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Skillz Inc's revenue growing?
Skillz Inc (SKLZ) revenue grew by 12.5% year-over-year, from $92.9M to $104.5M in fiscal year 2025.
Is Skillz Inc profitable?
No, Skillz Inc (SKLZ) reported a net income of -$70.4M in fiscal year 2025, with a net profit margin of -67.4%.
What is Skillz Inc's EBITDA?
Skillz Inc (SKLZ) had EBITDA of -$62.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Skillz Inc have?
As of fiscal year 2025, Skillz Inc (SKLZ) had $194.5M in cash and equivalents against $0 in long-term debt.
What is Skillz Inc's gross margin?
Skillz Inc (SKLZ) had a gross margin of 87.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Skillz Inc's operating margin?
Skillz Inc (SKLZ) had an operating margin of -61.2% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Skillz Inc's net profit margin?
Skillz Inc (SKLZ) had a net profit margin of -67.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Skillz Inc's return on equity (ROE)?
Skillz Inc (SKLZ) has a return on equity of -63.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Skillz Inc's free cash flow?
Skillz Inc (SKLZ) generated -$70.3M in free cash flow during fiscal year 2025. This represents a -808.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Skillz Inc's operating cash flow?
Skillz Inc (SKLZ) generated -$68.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Skillz Inc's total assets?
Skillz Inc (SKLZ) had $293.5M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Skillz Inc's capital expenditures?
Skillz Inc (SKLZ) invested $1.4M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Skillz Inc spend on research and development?
Skillz Inc (SKLZ) invested $20.6M in research and development during fiscal year 2025.
What is Skillz Inc's current ratio?
Skillz Inc (SKLZ) had a current ratio of 1.20 as of fiscal year 2025, which is considered adequate.
What is Skillz Inc's debt-to-equity ratio?
Skillz Inc (SKLZ) had a debt-to-equity ratio of 0.00 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Skillz Inc's return on assets (ROA)?
Skillz Inc (SKLZ) had a return on assets of -24.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Skillz Inc's cash runway?
Based on fiscal year 2025 data, Skillz Inc (SKLZ) had $194.5M in cash against an annual operating cash burn of $68.9M. This gives an estimated cash runway of approximately 34 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Skillz Inc's Piotroski F-Score?
Skillz Inc (SKLZ) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Skillz Inc's earnings high quality?
Skillz Inc (SKLZ) has an earnings quality ratio of 0.98x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Skillz Inc cover its interest payments?
Skillz Inc (SKLZ) has an interest coverage ratio of -4.2x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Skillz Inc?
Skillz Inc (SKLZ) scores 21 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.