Skillz (SKLZ) Misses Q4 EPS by 4c, Revenues Beat

Skillz (NYSE: SKLZ) reported Q4 EPS of ($0.14), $0.04 worse than the analyst estimate of ($0.10). Revenue for the quarter came in at $67.72 million versus the consensus estimate of $62.49 million.

Fourth Quarter Financial Highlights

• Revenue grew to $68 million during the fourth quarter of 2020, 8% higher than expectations, and up 95% compared with $35 million during the comparable quarter in 2019.
• Gross profit grew 95% to $64 million during the fourth quarter of 2020, compared with $33 million during the comparable quarter in 2019.
• Gross margin was 95% during the fourth quarter of 2020, consistent with the comparable quarter in 2019.
• Net loss was $44 million during the fourth quarter of 2020, compared with a net loss of $9 million during the comparable quarter in 2019.
• Gross Marketplace Volume1 (“GMV”) grew 78% to $463 million during the fourth quarter of 2020, compared with $259 million during the comparable quarter in 2019.

“Our first quarter as a publicly traded company was our twentieth consecutive quarter of revenue growth,” said Andrew Paradise, CEO and founder. “We look forward to many more such quarters ahead.”

GUIDANCE:

Skillz sees FY2021 revenue of $366 million, versus the consensus of $366.09 million.

For earnings history and earnings-related data on Skillz (SKLZ) click here.

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