Company: SKLZ
Filing Date: 2025-12-11
Form Type: 10-Q
Source: 0001801661-25-000072
Chunk: 14

Company: Skillz Inc.
Filing Date: 2025-12-11
Form: 10-Q
Item: Item 1
Chunk 14
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ITEM 1. FINANCIAL STATEMENTS

 SKILLZ INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited, in thousands, except for number of shares and par value per share amounts)

September 30,December 31,20252024AssetsCurrent assets:Cash and cash equivalents$211,801 $271,923 Restricted cash— 9,000 Accounts receivable, net of allowance for credit losses of $257 and $273 as of September 30, 2025 and December 31, 2024, respectively14,264 4,890 Prepaid expenses and other current assets7,052 17,342 Total current assets233,117 303,155 Property and equipment, net20,249 16,282 Operating lease right-of-use assets, net1,196 308 Non-marketable equity securities52,768 52,768 Restricted cash, non-current1,000 1,000 Other non-current assets915 755 Total assets$309,245 $374,268 Liabilities and stockholders’ equityCurrent liabilities:Accounts payable$7,992 $9,799 Operating lease liabilities, current454 1,544 Other current liabilities45,498 54,564 Total current liabilities53,944 65,907 Operating lease liabilities, non-current743 9,338 Long-term debt, net127,083 125,654 Other non-current liabilities299 333 Total liabilities182,069 201,232 Commitments and contingencies (Note 8)Stockholders’ equity:Common stock $0.0001 par value; 31.3 million shares authorized; Class A common stock – 25.0 million shares authorized; 18.7 million and 18.7 million shares issued; 11.9 million and 13.3 million outstanding as of September 30, 2025 and December 31, 2024, respectively; Class B common stock – 6.3 million shares authorized; 3.4 million shares issued and outstanding as of September 30, 2025 and December 31, 20241 1 Additional paid-in capital1,241,011 1,226,642 Accumulated deficit(1,073,764)(1,021,258)Treasury stock at cost, $6.8 million and $5