Skillz (SKLZ) Outperforms Analysts' Expectations for Q1

Skillz Inc. (NYSE: SKLZ), the leading mobile games platform bringing fair competition to players worldwide, released its outlook for the first quarter ending March 31, 2021 today. The Company also announced that it will release its fiscal first quarter financial results on May 4, 2021 after the end of trading on the New York Stock Exchange.

Q1 2021 SKLZ Outlook

(1) Range of analyst expectations from publicly available research reports published by Canaccord Genuity, Stifel, Wedbush Securities, Wells Fargo Securities, and UBS Securities Investment Bank.

(2) Adjusted EBITDA is defined as net loss before interest, other non-operating expense or income, provision for income taxes, and depreciation and amortization, and further adjusted for stock-based compensation and other special items determined by management, including, but not limited to, fair value adjustments for certain financial liabilities (including derivatives) associated with debt and equity transactions and impairment charges as they are not indicative of business operations. The Company does not provide a reconciliation of this forward-looking measure because it is an estimate and a reconciliation to the most directly comparable financial measures calculated and presented in accordance with GAAP will be provided in connection with reporting Q1 financial results.

(3) “Monthly Active Users” or “MAUs” means the number of end-users who entered into a paid or free contest hosted on Skillz’s platform at least once in a month, averaged over each month in the period.

(4) “Paying Monthly Active Users” or “pMAUs” means the number of end-users who entered into a paid contest hosted on Skillz’s platform at least once in a month, averaged over each month in the period.

Skillz’s first quarter outlook exhibits strong momentum attributed to double-digit growth in payors, resulting from both an increase in new installs and rising conversion of existing players into payors.

Skillz will host a conference call and audio webcast on May 4, 2021 at 5:00pm Eastern Time, during which management will discuss the first quarter results and provide commentary on business performance. A question and answer session with analysts and investors will follow the prepared remarks.

The conference call can be accessed by registering online for the Skillz webcast, at which time registrants will receive dial-in information as well as a passcode and registrant ID. At the time of the call, participants will dial in using the numbers in the confirmation email and enter their passcode and ID, upon which they will enter the conference call.

Access to a live audio-webcast of the discussion in listen-only mode will be available through the “Investors” section of the Skillz website at www.skillz.com. A replay of the webcast will be archived on the Company’s website.

The foregoing outlook reflects preliminary estimates based on information available as of March 24, 2021 and is subject to change following completion of Skillz’s quarter-end review process.

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