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In this Annual Report, when we use the terms the Company, Skillz, we, us and our, unless otherwise indicated or the context otherwise requires, we are referring to Skillz Inc. and its wholly-owned subsidiaries. Overview We were founded on one simple belief: competition holds the power to unleash possibilities in all of us.
The business is unprofitable at the operating level (-61.17% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue grew 12.5%, still solid. Margins contracted 11.1pp, which offsets some of the top-line progress.
ROIC dropped from -11.17% to -18.34%, capital efficiency is deteriorating. Negative free cash flow of -$70M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$112M
▲ +12.5% YoY
Net Income (TTM)
-$64M
▼ -50.5% YoY
Op. Margin
-51.20%
▼ -11.1pp YoY
ROIC
-18.17%
▼ -7.2pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$65M
▼ -808.4% YoY
Op. Cash Flow (TTM)
-$65M
▼ -874.4% YoY
Net Debt
-$56M
Net Cash Position
Cash & Equiv.
$185M
5Y CAGR: -14.6%
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