Market (Overall)·Updated Mar 21, 2026 by Skillz
Skillz Inc. reported Q3 2024 revenue of $24.6 million, down from $36.4 million in the same period last year.
The company narrowed its net loss to $21.1 million from $33.5 million in Q3 2023, while improving its Adjusted EBITDA loss from $18.5 million to $13.9 million.
Skillz maintains a strong liquidity position with over $300 million in cash and restricted cash to fund ongoing turnaround initiatives.
Paying monthly active users (PMAU) remained stable sequentially at 121,000, with an average revenue per paying user (ARPPU) of $67.60.
Operating expenses, excluding cost of revenue, were reduced to $42.2 million through cuts across research and development, sales and marketing, and general and administrative costs.
Management is targeting a return to positive Adjusted EBITDA on a run-rate basis by 2025.
The company has shifted to a high-efficiency user acquisition strategy, currently achieving a systemwide payback period of approximately six months.
Skillz Inc. reported Q3 2024 revenue of $24.6 million, down from $36.4 million in the same period last year.
The company narrowed its net loss to $21.1 million from $33.5 million in Q3 2023, while improving its Adjusted EBITDA loss from $18.5 million to $13.9 million.
Skillz maintains a strong liquidity position with over $300 million in cash and restricted cash to fund ongoing turnaround initiatives.
Paying monthly active users (PMAU) remained stable sequentially at 121,000, with an average revenue per paying user (ARPPU) of $67.60.
Operating expenses, excluding cost of revenue, were reduced to $42.2 million through cuts across research and development, sales and marketing, and general and administrative costs.
Management is targeting a return to positive Adjusted EBITDA on a run-rate basis by 2025.
The company has shifted to a high-efficiency user acquisition strategy, currently achieving a systemwide payback period of approximately six months.