Company: SKLZ
Filing Date: 2025-11-06
Form Type: 10-K
Source: 0001801661-25-000050
Chunk: 149

Company: Skillz Inc.
Filing Date: 2025-11-06
Form: 10-K
Item: Item 8
Chunk 149
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 of the U.S. Securities and Exchange Commission (“SEC”). The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation.  The Company’s fiscal year ends on December 31st of each year.Reverse Stock SplitOn June 23, 2023, the Company effectuated a one-for-twenty reverse stock split of its issued and outstanding shares of Common Stock. As a result of the reverse stock split, every 20 shares of issued and outstanding Common Stock were combined and converted into one issued and outstanding share of Common Stock, and the number of authorized shares of Common Stock was reduced proportionately. The par value per share of Common Stock remains unchanged. The Company’s Class A Common Stock began trading on a split-adjusted basis on the NYSE at market open on June 26, 2023. All share and per-share amounts have been retrospectively adjusted to reflect the impact of the reverse stock split. The Company has retroactively applied the stock split made effective on June 23, 2023, to share and per share amounts on the consolidated financial statements. Accordingly, any information related to or dependent upon the share amounts in the consolidated financial statements has been retrospectively adjusted to reflect the effect of the stock split.Reclassifications     Certain prior year amounts have been reclassified or changed to conform to the current-year presentation. Such reclassifications had no impact on previously reported net income.Immaterial Out-Of-Period Adjustments     During the quarter ended December 31, 2024, the Company recorded certain immaterial out-of-period adjustments related to the following:1.Accounting for indirect taxes: This adjustment related to a prior period change in the calculation of indirect taxes, which resulted in the correction of an understatement to our indirect tax liability and overstatement of revenue of  $1.1 million.2.Accounting for classification of certain incentives: This adjustment resulted in the correction of an overstatement of selling and marketing expense and an overstatement of revenue of $1.7 million.

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TABLE OF CONTENTSSKILLZ INC.NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS(Amounts in tables are in thousands, unless otherwise noted)

     The Company assessed the materiality of these adjustments on the previously issued financial statements in accordance with SEC Staff Accounting Bulletin Topic 1.M, Materiality and concluded they were not material to the previously issued consolidated financial statements.

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TABLE OF CONTENTSSKILLZ INC.NOTES