Company: SKLZ
Filing Date: 2025-12-11
Form Type: 10-Q
Source: 0001801661-25-000071
Chunk: 47

Company: Skillz Inc.
Filing Date: 2025-12-11
Form: 10-Q
Item: Item 1
Chunk 47
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, $46.8 thousand and $142.6 thousand of stock-based compensation expense was capitalized as internally developed software and included in property and equipment, net. For the three and six months ended June 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 six months ended June 30, 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(418,983)— — 262,466 6.47 Exercised/Vested— — — (33)— Cancelled/Forfeited/Expired95,047 (498)23.02 (94,549)6.59 Additional Shares Authorized and Balance Reconciliation Adjustments(1,733,190)— — — — Balance at June 30, 20251,933,791 681,231 312.65 6.4149 1,937,831 $9.74 

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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)

As of  June 30, 2025, there were approximately 1.9 million shares of common stock available for future grants. 

11. Income Taxes

The Company’s benefit from income taxes was $19.0 thousand for the three months ended June 30, 2025 and the Company’s provision for income tax was $73.0 thousand for the period in the prior year. The effective tax rate was 0.11% and 0.28% for the three months ended June 30, 2025 and 2024, respectively. The Company's provision for income taxes was $20.0 thousand and $111.0