Company: SKLZ
Filing Date: 2025-12-11
Form Type: 10-Q
Source: 0001801661-25-000072
Chunk: 56

Company: Skillz Inc.
Filing Date: 2025-12-11
Form: 10-Q
Item: Item 1
Chunk 56
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inquent SEC quarterly filings (the Quarterly Reports on Form 10-Q together with our Annual Report on Form 10-K, collectively, the “Delayed Filings”), and regain compliance with the NYSE’s continued listing requirements.  We worked diligently to file our Annual Report on Form 10-K for the year ended December 31, 2024 on November 6, 2025, the quarterly reports for the quarters ended March 31, 2025 and June 30, 2025 on December 11, 2025 and this filing of the quarterly report for the quarter ended September 30, 2025, which constitute compliance with NYSE’s continued listing requirements and completes the necessary steps in order to regain compliance with the NYSE.

On September 25, 2025, the NYSE granted our request for an Additional Cure Period and agreed to provide us with an extension to continue our listing on the NYSE through December 17, 2025, subject to ongoing reassessment by the NYSE and provided that we become current with our SEC filings by such date.

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Papaya Litigation

On October 28, 2025, the court denied Papaya’s motion for summary judgment as to Skillz’s claims against Papaya. The Court also denied Papaya’s motion to exclude Skillz’s consumer and damages experts. On November 24, 2025, the Court granted Skillz’s motion for summary judgment on Papaya’s remaining counterclaims and unclean hands defense. The court’s rulings on certain motions related to the admissibility of expert testimony remain pending (see Note 8, Commitments and Contingencies).

Items Impacting Comparability of Results of Operations and Financial Condition

Our condensed consolidated financial statements included in this report reflect the following additional items impacting the comparability of results of operations and financial condition:

•A vendor and the Company settled a dispute March 2025. In exchange for mutual releases of all claims, the Company paid the vendor $2.75 million in March 2025, $2.75 million of which has been accrued for in fiscal year 2024.

•A vendor and the Company agreed to mediate a dispute that resulted in a settlement where the Company agreed to pay the vendor $533 thousand in June 2025, which represented the past due balances for year one and year two of the agreement that were fully accrued as of December 31, 2024.

•The Company and a lessor of its former headquarters in