Skillz Receives NYSE Notice Regarding Late Form 10-K Filing
Skillz (NYSE: SKLZ) has received a notice from the New York Stock Exchange (NYSE) on April 2, 2025, regarding its failure to timely file its Annual Report (Form 10-K) for the fiscal year ended December 31, 2024. The company requires additional time to complete its year-end reporting procedures.
While the NYSE Notice has no immediate effect on SKLZ's listing, the company has been granted a six-month compliance period from March 17, 2025, to file the Form 10-K. The NYSE may grant an additional six-month extension based on specific circumstances, though it retains the right to initiate delisting proceedings if warranted.
Skillz expects to file the Form 10-K within the initial six-month period, but provides no guarantees of meeting this deadline.
Skillz (NYSE: SKLZ) ha ricevuto una comunicazione dalla Borsa di New York (NYSE) il 2 aprile 2025, riguardante il suo mancato invio tempestivo del Rapporto Annuale (Modulo 10-K) per l'esercizio terminato il 31 dicembre 2024. L'azienda necessita di ulteriore tempo per completare le procedure di reporting di fine anno.
Sebbene la comunicazione della NYSE non abbia effetto immediato sulla quotazione di SKLZ, all'azienda è stato concesso un periodo di conformità di sei mesi a partire dal 17 marzo 2025, per presentare il Modulo 10-K. La NYSE può concedere un'ulteriore estensione di sei mesi in base a circostanze specifiche, pur mantenendo il diritto di avviare procedimenti di delisting se necessario.
Skillz prevede di presentare il Modulo 10-K entro il periodo iniziale di sei mesi, ma non fornisce garanzie di rispettare questa scadenza.
Skillz (NYSE: SKLZ) ha recibido un aviso de la Bolsa de Nueva York (NYSE) el 2 de abril de 2025, sobre su falta de presentación oportuna de su Informe Anual (Formulario 10-K) para el año fiscal que terminó el 31 de diciembre de 2024. La empresa requiere tiempo adicional para completar sus procedimientos de informes de fin de año.
Aunque el aviso de la NYSE no tiene efecto inmediato en la cotización de SKLZ, se ha concedido a la empresa un período de cumplimiento de seis meses a partir del 17 de marzo de 2025, para presentar el Formulario 10-K. La NYSE puede conceder una extensión adicional de seis meses según circunstancias específicas, aunque se reserva el derecho de iniciar procedimientos de deslistado si es necesario.
Skillz espera presentar el Formulario 10-K dentro del período inicial de seis meses, pero no garantiza cumplir con este plazo.
Skillz (NYSE: SKLZ)는 2025년 4월 2일 뉴욕 증권 거래소(NYSE)로부터 2024년 12월 31일 종료된 회계 연도의 연례 보고서(양식 10-K)를 제때 제출하지 못한 것에 대한 통지를 받았습니다. 회사는 연말 보고 절차를 완료하기 위해 추가 시간이 필요합니다.
NYSE의 통지가 SKLZ의 상장에 즉각적인 영향을 미치지 않지만, 회사는 2025년 3월 17일부터 시작하여 양식 10-K를 제출하기 위한 6개월의 준수 기간을 부여받았습니다. NYSE는 특정 상황에 따라 추가로 6개월의 연장을 허용할 수 있지만, 필요할 경우 상장 폐지 절차를 시작할 권리를 보유합니다.
Skillz는 초기 6개월 기간 내에 양식 10-K를 제출할 것으로 예상하고 있지만, 이 마감일을 준수할 것이라는 보장은 없습니다.
Skillz (NYSE: SKLZ) a reçu un avis de la Bourse de New York (NYSE) le 2 avril 2025, concernant son incapacité à soumettre à temps son Rapport Annuel (Formulaire 10-K) pour l'exercice clos le 31 décembre 2024. L'entreprise nécessite un temps supplémentaire pour compléter ses procédures de reporting de fin d'année.
Bien que l'avis de la NYSE n'ait aucun effet immédiat sur la cotation de SKLZ, l'entreprise a reçu une période de conformité de six mois à partir du 17 mars 2025 pour déposer le Formulaire 10-K. La NYSE peut accorder une extension supplémentaire de six mois en fonction de circonstances spécifiques, mais se réserve le droit d'engager des procédures de radiation si nécessaire.
Skillz s'attend à soumettre le Formulaire 10-K dans le délai initial de six mois, mais ne garantit pas le respect de cette échéance.
Skillz (NYSE: SKLZ) hat am 2. April 2025 eine Mitteilung von der New Yorker Börse (NYSE) erhalten, die sich auf die verspätete Einreichung ihres Jahresberichts (Formular 10-K) für das am 31. Dezember 2024 endende Geschäftsjahr bezieht. Das Unternehmen benötigt zusätzliche Zeit, um seine Jahresabschlussverfahren abzuschließen.
Obwohl die NYSE-Mitteilung keine unmittelbaren Auswirkungen auf die Listung von SKLZ hat, wurde dem Unternehmen eine sechsmonatige Frist zur Einreichung des Formulars 10-K ab dem 17. März 2025 gewährt. Die NYSE kann je nach spezifischen Umständen eine weitere sechsmonatige Verlängerung gewähren, behält sich jedoch das Recht vor, bei Bedarf ein Delisting-Verfahren einzuleiten.
Skillz erwartet, das Formular 10-K innerhalb des anfänglichen sechsmonatigen Zeitraums einzureichen, gibt jedoch keine Garantien, dass dieser Termin eingehalten wird.
- Company granted six-month compliance period with possibility of additional extension
- No immediate impact on NYSE listing status
- Failure to file annual Form 10-K report on time indicates potential internal control or accounting issues
- Risk of NYSE delisting if compliance deadline is not met
- Extended delay in financial reporting creates uncertainty for investors
Insights
Skillz's NYSE compliance issue is a significant red flag for investors. The company's failure to file its 10-K annual report on time has triggered a formal non-compliance notice from the exchange, initiating a regulatory process that could ultimately lead to delisting.
While there's no immediate threat to the company's listing status, this delayed filing suggests potential underlying issues with financial reporting processes or possibly more concerning financial conditions that the company is not yet ready to disclose. The language noting they "require more time to complete the procedures relating to its year-end reporting process" is deliberately vague and provides no clarity on the specific obstacles.
For a micro-cap company with only
Concerning aspects include: (1) that the company missed not only the original deadline but also the extension period granted by Form 12b-25, and (2) the cautionary language that they "expect" to meet the six-month deadline but offer "no assurance" they will.
Extended filing delays often precede more significant negative disclosures when finally released. Given Skillz's small size and the current regulatory uncertainty, this represents a material risk event that warrants close monitoring and heightened caution.
The NYSE Notice has no immediate effect on the listing of the Company’s common stock on the NYSE. The NYSE Notice informed the Company that, under NYSE rules, the Company has six months from March 17, 2025 to regain compliance with the NYSE listing standards by filing the Form 10-K with the SEC. The NYSE further noted that, if the Company fails to file the Form 10-K within the six-month period, the NYSE may grant, at its sole discretion, an extension of up to six additional months for the Company to regain compliance, depending on the specific circumstances. The NYSE Notice also notes that the NYSE may nevertheless commence delisting proceedings at any time if it deems that the circumstances warrant.
As previously reported in the Company’s Notification of Late Filing on Form 12b-25 filed with the SEC on March 17, 2025 (the “Form 12b-25”), the Company was unable to file the Form 10-K within the prescribed period because the Company requires more time to complete the procedures relating to its year-end reporting process. Subsequent to filing the Form 12b-25, the Company continued to dedicate significant resources to the completion of such procedures but was unable to file the Form 10-K by April 1, 2025, the end of the extension period provided by the Form 12b-25. The Company requires additional time to complete such procedures.
The Company is working diligently to complete the necessary work to file the Form 10-K as soon as practicable and currently expects to file the Form 10-K within the six-month period granted by the NYSE Notice; however, there can be no assurance that the Form 10-K will be filed within such period.
About Skillz Inc.
Skillz is the leading mobile games platform dedicated to bringing out the best in everyone through competition. The Skillz platform helps developers create 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, with the goal of building the home of competition for all. Skillz has earned recognition as one of Fast Company’s Best Workplaces for Innovators, CNBC’s Disruptor 50, Forbes’ Next Billion-Dollar Startups, Fast Company’s Most Innovative Companies, and the number-one 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: sustain profitability if Skillz’ revenue continues to decline; effectively compete in the global entertainment and gaming industries; attract and retain successful relationships with the third party developers who develop and update the games hosted on Skillz’ platform; drive brand awareness with end users; issues in the development and use of artificial intelligence and machine learning; invest in growth and development of employees; comply with laws, regulations and expectations applicable to its business, including with respect to cybersecurity and corporate governance matters; mitigate the commercial, reputational and regulatory risks to our business; remediate during fiscal year 2025 certain non-fully remediated material weaknesses in our internal controls over financial reporting. Additional factors that may cause such differences include other risks and uncertainties indicated from lime to lime 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 arc 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250408535802/en/
Investors: ir@skillz.com
or
James Leahy, Richard Land
JCIR
(212) 835-8500 or sklz@jcir.com
Media: press@skillz.com
Source: Skillz Inc.
FAQ
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