Skillz reports preliminary Q1 revenue $22.4M, two estimates $20.75M

Reports preliminary Q1: “Adjusted EBITDA of $(15.1M); Paying monthly active users of 124,000. Average Revenue Per Paying Monthly Active User of $62.2. “The first quarter marked further progress toward returning Skillz (SKLZ) to consistent top-line growth and positive Adjusted EBITDA,” said Andrew Paradise, Skillz’ CEO. “First quarter paying monthly active users rose quarter over quarter. We continue to prioritize features and offerings to improve retention and increase player spend. As part of our focus on increasing player engagement and monetization, our $75 million accelerator program is helping us identify the next generation of skill-based mobile games that we expect will ultimately broaden the scope of our offerings. With the ongoing progress against our four key pillars, we remain confident that our unique platform will generate value for shareholders.”