Company: SKLZ
Filing Date: 2025-12-11
Form Type: 10-Q
Source: 0001801661-25-000072
Chunk: 44

Company: Skillz Inc.
Filing Date: 2025-12-11
Form: 10-Q
Item: Item 1
Chunk 44
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 ended September 30, 2025 and 2024, the Company repurchased 1.4 million and 1.8 million shares at a weighted average price of $5.39 and $5.99 per share for an aggregate value of $7.7 million and $10.8 million, respectively under the Share Repurchase Program.

10. Stock-Based Compensation

The following table summarizes stock-based compensation expense recognized for the three and nine months ended September 30, 2025 and 2024:Three Months Ended September 30,Nine Months Ended September 30,2025202420252024Cost of revenue$— $4 $3 $7 Research and development50 322 549 651 Sales and marketing656 1,086 2,529 4,885 General and administrative3,560 5,309 11,100 17,351 Total stock-based compensation expense$4,266 $6,721 $14,181 $22,894 For the three and nine months ended September 30, 2025, $24.0 thousand and $166.6 thousand of stock-based compensation expense was capitalized as internally developed software and included in property and equipment, net. For the three and nine months ended September 30, 2024, no stock-based compensation expense was capitalized as internally developed software.  Stock Options and Restricted Stock UnitsStock option and RSU activity during the nine months ended September 30, 2025 is as follows (in thousands, except for share, per share, and contractual term data):

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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)

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(463,187)— — 219,526 6.74 Exercised/Vested— — — (33)—