Company: SKLZ
Filing Date: 2025-12-11
Form Type: 10-Q
Source: 0001801661-25-000070
Chunk: 42

Company: Skillz Inc.
Filing Date: 2025-12-11
Form: 10-Q
Item: Item 1
Chunk 42
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ulgated under the Exchange Act and/or pursuant to accelerated share repurchase arrangements, tender offers, privately negotiated transactions or otherwise.  On December 5, 2024, the Board re-approved the Share Repurchase Program and extended the expiration date until otherwise suspended, terminated or modified at any time for any reason by the Board.

In the three months ended March 31, 2025 and 2024, the Company repurchased 0.8 million and 1.2 million shares at a weighted average price of $5.60 and $5.76 per share for an aggregate value of $4.7 million and $7.0 million, respectively under the Share Repurchase Program. 

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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)

10. Stock-Based Compensation

The following table summarizes stock-based compensation expense recognized for the three months ended March 31, 2025 and 2024:Three Months Ended March 31,20252024Cost of revenue$3 $2 Research and development249 147 Sales and marketing1,183 2,011 General and administrative4,115 6,580 Total stock-based compensation expense$5,550 $8,740      For the three months ended March 31, 2025, $96.0 thousand of stock-based compensation expense was capitalized as internally developed software and included in property and equipment, net. For the three months ended March 31, 2024, no stock-based compensation expense was capitalized as internally developed software.Stock Options and Restricted Stock UnitsStock option and RSU activity during the three months ended March 31, 2025 is as follows (in thousands, except for share, per share, and contractual term data):Options OutstandingRestricted Stock OutstandingNumber of Shares Available for Issuance Under the PlanNumber of Shares Outstanding Under the PlanWeighted- Average Exercise PriceWeighted- Average Remaining Contractual Term (Years)Aggregate Intrinsic ValueNumber of Plan shares outstandingWeighted-Average Grant Date Fair Value per shareBalance at December 31, 20243,325,575 681,729 312.44 5.9630 1,769,947 $10.52 Additional shares authorized665,342 — — Granted(301,645)— — 290,882 5.