Company: SKLZ
Filing Date: 2025-12-11
Form Type: 10-Q
Source: 0001801661-25-000072
Chunk: 19

Company: Skillz Inc.
Filing Date: 2025-12-11
Form: 10-Q
Item: Item 1
Chunk 19
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 securities— (5)Proceeds from sales of marketable securities— 1,137 Net cash used in investing activities(4,723)(185)Financing ActivitiesPrincipal payments on finance leases obligations(444)(682)Repurchase of common stock(7,723)(10,905)Payments to cover taxes upon exercise of stock options and issuance of common stock — (1,236)Net cash used in financing activities(8,167)(12,823)Net change in cash, cash equivalents and restricted cash(69,122)(585)Cash, cash equivalents and restricted cash – beginning of year281,923 312,028 Cash, cash equivalents and restricted cash – end of period$212,801 $311,443 Supplemental cash flow data:Cash paid during the period for:Interest$6,691 $6,726 Taxes$53 $183 Noncash investing and financing activities:Purchases of property and equipment included in accounts payable$109 $246 Stock-based compensation capitalized in software development costs$167 $— 

 See accompanying Notes to the Condensed Consolidated Financial Statements.

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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)

1. Description of the Business and Basis of Presentation

BusinessSkillz (the “Company,” “Skillz” or “We”) generates revenue from our two reportable operating segments, Skillz and Aarki.The Skillz segment operates a competitive multi-player platform, driving the future of entertainment by accelerating the convergence of video games, real world prizes, and media. The Company’s principal activities are to develop and support a proprietary online-hosted technology platform that creates a multi-player system inside of game developer’s games (“Competitions”) to end-players worldwide.Aarki (“Aarki”) is a subsidiary of the Company and is an artificial intelligence company that delivers advertising solutions to drive revenue growth for mobile app developers. Aarki enables brands to effectively engage audiences in a privacy-first world by using billions of contextual bidding signals coupled with proprietary machine learning and behavioral models. Aarki works with advertisers globally and manages ad requests on mobile devices.Basis of PresentationThe Company’s condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) as determined by the Financial Accounting