Company: SKLZ
Filing Date: 2025-11-06
Form Type: 10-K
Source: 0001801661-25-000050
Chunk: 171

Company: Skillz Inc.
Filing Date: 2025-11-06
Form: 10-K
Item: Item 8
Chunk 171
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 on the platform by not participating in a tournament for six consecutive months, the Company will impose a monthly maintenance fee. This fee is charged to the player and recognized as revenue by the Company beginning in the seventh month of inactivity.

5. Balance Sheet Components

Note ReceivableNote receivable included in other long-term assets on the consolidated balance sheets consisted of the following as of December 31, 2024 and 2023:December 31,20242023Note receivable$— $2,000 On July 7, 2023, the Company entered into a Loan and Security Agreement (together, the “Credit Agreement”) whereby it would lend approximately $2.0 million to Big Run Studio (“Big Run”) at a designated rate of 11.5%, with interest-only for the first six months being paid, at Big Run’s option each month, (1) in cash or (2) in-kind and compounded monthly to the principal and maturing on June 1, 2025. The interest-only period may be extended in six month increments upon mutual written agreement between Big Run and Skillz. The credit facility was perfected by way of a Uniform Commercial Code-1 statement whereby the Company is provided first-order secured rights in the event of default by Big Run.  On April 12, 2024, the Company and Big Run Studio entered into a Side Letter Agreement providing that a portion of the AviaGames settlement funds allocated to Big Run Studio be utilized to repay the outstanding principal amount and accrued interest under the Loan and Security Agreement. On May 3, 2024, Big Run Studio repaid all of the outstanding principal amount and accrued interest under the Loan and Security Agreement.  For the years ended December 31, 2024 and 2023, the Company recognized $0.1 million and $0.1 million of interest income related to this Credit Agreement, respectively.

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

Prepaid Expenses and Other Current AssetsPrepaid expenses and other current assets consisted of the following as of December 31, 2024 and 2023:December 31,20242023Credit card processing reserve$1,000 $1,000 Prepaid expenses5,949 4,364 Other current assets10,393 1,357 Prepaid expenses and other current assets$17,