Skillz Inc. - SKLZ STOCK NEWS

Skillz Inc. (NYSE: SKLZ) reported strong financial results for Q2 2021, achieving revenue growth of 52%, totaling $89.5 million. Gross profit also rose by 52% to $85.1 million, maintaining a gross margin of 95%. However, the net loss increased to $79.6 million, compared to $20.2 million in Q2 2020. The company acquired marketing platform Aarki, enhancing its user acquisition strategies. Skillz updated its full-year revenue forecast to $389 million, including Aarki's contribution.

Skillz (NYSE: SKLZ) has formed a strategic partnership with Exit Games, a developer of advanced synchronous multiplayer gaming technology. Skillz's $50 million investment provides them permanent access to Exit's technology, enhancing their esports tournaments and platform capabilities. This partnership aims to accelerate Skillz's entry into popular gaming genres, such as battle royale, and attract a wider pool of developers. The collaboration is expected to enhance the gaming experience while ensuring fairness for players.

Skillz (NYSE: SKLZ) announced plans to release its second quarter 2021 results post-market on August 3, 2021. Investors can expect a letter detailing these results on the company’s investor relations website. A live Q&A conference call with analysts and investors will follow at 5:30 PM ET, accessible via registration. A replay of the call will be available until August 10. Skillz is recognized as a leading mobile games platform that promotes fair competition and distributes millions in prizes monthly.

Skillz (NYSE: SKLZ) has announced the redemption of all outstanding public warrants to purchase its Class A common stock at $0.01 per warrant, effective after 5pm NY time on August 16, 2021. This decision follows the achievement of the necessary share price requirement of $18.00 for 20 trading days within a 30-day period as of July 13, 2021. Holders can exercise their warrants at an $11.50 per share price until the deadline. Those remaining unexercised will be void post-deadline, only receiving the redemption amount.

PLBY Group, Inc. (NASDAQ: PLBY), the parent of Playboy, announces a four-week series of Playboy-branded gaming tournaments starting June 11, 2021, on Skillz (NYSE: SKLZ). Players can compete in games like Pool Payday, Solitaire Cube, and 21 Blitz for unique Playboy merchandise. This initiative aims to engage Skillz's millions of users while enhancing Playboy's brand presence in gaming. Rachel Webber, Chief Brand Officer at Playboy, expressed excitement for the collaboration, highlighting Skillz's community-driven gaming approach.

Skillz (NYSE: SKLZ) has announced an agreement to acquire Aarki for approximately $150 million, combining Skillz's mobile gaming platform with Aarki's advanced marketing capabilities. Aarki engages in over five trillion monthly advertising auctions and employs machine learning for high ROI in mobile gaming advertising. This strategic acquisition aims to enhance performance marketing, offering significant value to game developers. The transaction is expected to close in Q3 2021 and positions Skillz for expanded growth in the competitive mobile gaming sector.

Skillz (NYSE: SKLZ), a leading mobile games platform, has been featured in the San Francisco Business Times and Silicon Valley Business Journal list of 'Best Places to Work.' This recognition is based on employee feedback from a third-party survey evaluating various workplace aspects. CEO Andrew Paradise highlighted the company's inclusive culture and the role of its employees in driving success. Despite the pandemic, Skillz fostered a sense of community among employees through virtual events and encourages gaming during work hours to maintain engagement.

Skillz (NYSE: SKLZ) has appointed Ian Lee as its new Chief Financial Officer, effective June 21, 2021. Lee joins from Airbnb, where he played a pivotal role in its $4 billion IPO in December 2020. His experience spans various prestigious tech companies, including Atlassian and Trulia, contributing to their public offerings. Skillz CEO Andrew Paradise emphasizes the benefit of Lee's extensive finance and investor relations background as the company aims to enhance its growth trajectory in the competitive mobile gaming market.

Skillz Inc. (NYSE: SKLZ) reported its Q1 2021 results, showcasing significant growth with a revenue of $83.7 million, an increase of 92% year-over-year. Gross profit rose to $79.4 million, up 95%, achieving a gross margin of 95%. However, the net loss widened to $53.6 million from $15.5 million in the previous year. Adjusted EBITDA improved to $31.1 million. The company also increased its full-year revenue guidance to $375 million, reflecting a 63% growth outlook. Skillz has $613 million in cash and no debt, highlighting strong financial health.