Company: SKLZ
Filing Date: 2025-11-06
Form Type: 10-K
Source: 0001801661-25-000050
Chunk: 131

Company: Skillz Inc.
Filing Date: 2025-11-06
Form: 10-K
Item: Item 7
Chunk 131
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 million which was partially offset by non-cash expenses of $30.0 million related to stock-based compensation and net cash inflows of $6.1 million from changes in operating assets and liabilities. The net cash outflows from changes of operating assets and liabilities were primarily the result of other accruals and liabilities of $7.2 million, accounts payable of  $7.0 million, and accounts receivable of $0.8 million, partially offset by prepaid expense and other current assets of $8.7 million and operating lease liabilities of $0.3 million.

Net cash used in operating activities was $71.8 million for the year ended December 31, 2023. Cash used in operating activities during this period comprised of a net loss of $101.4 million, the gain on debt extinguishment of $15.2 million related to the open market repurchase of our senior secured notes during the second quarter of 2023 and net cash outflows of $7.2 million from changes in operating assets and liabilities.   These were partially offset by non-cash expenses of $43.7 million related to stock-based compensation. The net cash outflows from changes of operating assets and liabilities were primarily the result of decrease in other accruals and liabilities of $4.3 million, an increase in prepaid expense and other current assets of $1.8 million and a decrease in operating lease liabilities of $2.1 million. This was offset by a decrease in accounts receivable, net of $1.2 million.

Cash Flows from Investing Activities

Net cash used in investing activities was $1.4 million for the year ended December 31, 2024. The net cash used in investing activities was primarily driven by capitalization of software development costs of $1.8 million, partially offset by $1.1 million in proceeds from sales of marketable securities.

Net cash provided by investing activities was $168.3 million for the year ended December 31, 2023. The net cash provided by investing activities included $57.6 million in proceeds from sales of marketable securities and $126.0 million in proceeds from maturities of marketable securities.

Cash Flows from Financing Activities

Net cash used in financing activities was $21.7 million for the year ended December 31, 2024, which was primarily due to $19.3 million for the repurchase of common stock and net proceeds from exercise of common stock options and issuance of common stock of $