Skillz reports Q2 EPS ($1.05), consensus ($1.14)

Reports Q2 revenue $40.2M, consensus $39.9M. Reports Q2: Paying monthly active users (PMAU)2 of 200,000 compared to 420,000 in Q2 2022. Average Revenue Per Paying Monthly Active User of $68.18 compared to $56.79 in Q2 2022. “The second quarter was a productive period for Skillz marked by further progress against our strategic initiatives with a focus on developing an array of new product features that will increase consumer engagement and retention. Additionally, we’ve focused on optimizing our user acquisition strategy to enhance developer success and attract new content onto the platform,” said Andrew Paradise, Skillz’ CEO. “Importantly, in June we rolled out an exciting new feature which offers daily challenges on our two highest revenue producing games as part of a robust 18-month new product pipeline which will support timely new feature introductions going forward. We expect the regular introduction of new features will be a key driver of user retention, engagement and monetization. We also made notable progress throughout the second quarter in continuing to improve user acquisition spend and are confident we are on track towards achieving our optimized goal of a six-month payback period.”