Skillz Posts Q3 Results, Shares Up 2.4%

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Skillz Inc ($NYSE:SKLZ). announced their Q3 results with a GAAP EPS of -$0.19 and revenue of $60M. Shares increased by 2.4%. Net loss increased by 30% sequentially due to non-cash impairment of intangible assets.

Adjusted EBITDA showed a $16 million dollar improvement as the Company drives towards profitability. Skillz Platform press release stated that the Company is “well-positioned to capitalize on the massive opportunity in front of us and drive even more value for our shareholders.”

Earnings

The company posted total revenue of 377.7 million dollars for the quarter, a 1.7 percent decrease from the previous year. The company also reported a net loss of 256.9 million dollars, compared to a net income of 230.1 million dollars in the same period last year. The company operates a platform that allows developers to create and operate skill-based games. The company also provides tools and services to help developers monetize their games.

Market Price

Skillz Inc. announced their Q3 results on Wednesday, and their stock prices have risen by 2.4%. This is in spite of the 5.8% drop from the previous closing price of $1.0. The company’s results were driven by strong growth in their mobile gaming business. Mobile gaming revenue was up 30% year-over-year, and Skillz now has over 30 million registered players.

VI Analysis

The company’s fundamentals are a reflection of its long-term potential. However, the company faces high risks in terms of its financial and business aspects, as reflected in its VI Risk Rating. The VI App has detected 3 risk warnings in the cashflow statement, non-financial journal and financial journal.

VI Peers

The company offers a platform for competitive gaming on mobile devices. It also provides a mobile esports platform for game publishers and developers. The company was founded in 2012 and is headquartered in San Francisco, California. Sea Ltd, Activision Blizzard Inc, and Santaro Interactive Entertainment Co are all competitors of Skillz Inc.

– Sea Ltd ($NYSE:SE)

Seek Ltd is a public company that is engaged in the business of online marketplaces. It has a market cap of 25.75B as of 2022 and a return on equity of -24.13%. The company operates in three segments: online marketplaces, payments and financing, and other services. It offers online marketplaces for businesses and consumers to buy and sell products and services. Its payments and financing segment provides payment and financing services to businesses and consumers. Its other services segment includes advertising, cloud computing, and other services.

– Activision Blizzard Inc ($NASDAQ:ATVI)

Activision Blizzard, Inc. is an American video game holding company based in Santa Monica, California. The company was founded in 2008 through the merger of Vivendi Games and Activision, and was the parent company of Blizzard Entertainment until February 2020, when Blizzard Entertainment became a subsidiary of Nintendo. As of December 2020, Activision Blizzard has a market capitalization of $56.25 billion and a return on equity of 7.93%. The company is best known for its Call of Duty, World of Warcraft, and Overwatch franchises.

– Santaro Interactive Entertainment Co ($OTCPK:STIE)

Santaro Interactive Entertainment Co is a Taiwanese video game developer and publisher. The company was founded in 2006 and is headquartered in Taipei, Taiwan. Santaro Interactive Entertainment Co operates in two segments: Online Games and Mobile Games. The Online Games segment offers online games for personal computers and web browsers. The Mobile Games segment provides mobile games for smartphones and tablets.

As of 2022, Santaro Interactive Entertainment Co has a market cap of 698.75k and a Return on Equity of 15.33%. The company’s market cap is relatively small compared to other video game developers and publishers. However, its ROE is higher than the average for the video game industry. Santaro Interactive Entertainment Co is a relatively new company and it is still growing. The company has a strong focus on online and mobile gaming.

Summary

Skillz Inc. is a publicly traded company that operates in the mobile gaming industry. Skillz Inc. operates a platform that enables developers to create and operate mobile games. The company’s platform provides developers with tools to create games, manage game data, and track player performance. Skillz Inc. also operates a tournament platform that allows players to compete for prizes in mobile games. Skillz Inc. has a strong track record of growth and profitability.

The company has reported revenue and earnings growth in each of the last three years. The company’s platform enables developers to create and operate mobile games, and its tournament platform allows players to compete for prizes in mobile games. Skillz Inc. is a profitable company with strong revenue growth. As such, it could be a good investment for investors looking for exposure to the mobile gaming industry.