The following is a summary of the Skillz Inc. (SKLZ) Q3 2024 Earnings Call Transcript:
Financial Performance:
Reported Q3 2024 revenue of $25 million, stable sequentially but down 33% year-over-year.
Adjusted EBITDA loss improved by 25% year-over-year, though still at a loss of $13.9 million for Q3 2024.
Business Progress:
Skillz is focused on improving engagement and retention through enhancing platform features.Lowered dependency on US-based third-party contractors by scaling up teams in Las Vegas and Bangalore.
Continues to stabilize paid user metrics, with paying MAU remaining approximately the same as the previous quarter despite typical seasonal slowness.
Initiatives underway to further develop products and optimize user acquisition.
Opportunities:
Planning to increase user acquisition spend effectively through enhancing platform capabilities and investments in new content development.
Intends to leverage market opportunities by targeting efficient growth and improved user acquisition strategies.
Risks:
Facing challenges from ongoing legal issues regarding competitor's deceptive practices and impacts on consumer trust and industry standards.
Negative publicity and potential regulatory repercussions from lawsuits and contested corporate practices.
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
