Company: SKLZ
Filing Date: 2025-12-11
Form Type: 10-Q
Source: 0001801661-25-000070
Chunk: 50

Company: Skillz Inc.
Filing Date: 2025-12-11
Form: 10-Q
Item: Item 1
Chunk 50
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b5-1 Plan”) promulgated under the Exchange Act, and/or (c) pursuant to accelerated share repurchase arrangements, tender offers, privately negotiated transactions or otherwise (the “Share Repurchase Program”). On December 5, 2024, the Board reapproved the Share Repurchase Program and extended the expiration date until otherwise suspended, terminated or modified at any time for any reason by the Board.  

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

Subsequent to March 31, 2025 through December 5, 2025, the Company has repurchased 0.8 million shares of its common stock under the Share Repurchase Program (see Note 9, Share Repurchase Program) at an average price of $5.26 share for a total cost (including commission) of $4.1 million.Skillz v. Papaya Litigation     On October 28, 2025, the Judge denied Papaya’s motion for summary judgment as to Skillz’s claims against Papaya. The Court also denied Papaya’s motion to exclude Skillz’s survey and damages experts. On November 24, 2025, the Court granted Skillz’s motion for summary judgment on Papaya’s remaining counterclaims and unclean hands defense.  The court’s rulings on certain motions related to the administration of expert testimony remain pending (see Note 8, Commitments and Contingencies).New Tax Law     On July 4, 2025, U.S. Congress enacted the One Big Beautiful Bill Act (“OBBBA”), which includes significant provision, including tax cut extensions and modifications to the international tax framework. In accordance with GAAP, the Company will account for the tax effects of changes in tax law in the period of enactment which is in the quarter ending September 30, 2025. The Company is currently in the process of analyzing the tax impacts of the law change, and it currently does not expect the OBBBA to have a material impact on its condensed consolidated financial statements.Notice of Default      In light of the delays in the filing of the Company’s annual financial statements on its Form 10-K for the year ended December 31, 2024 and the interim financial statements on Form 10-Q for the quarters ended March 31, 2025, June 30, 2025, on September 30