Legal Action Against Bot Companies
Skillz has filed lawsuits against companies like Papaya Games and Voodoo Games to protect stakeholders and ensure fairness in the gaming industry. This highlights their commitment to fair play and has also brought media attention to the issue.
Stabilization of Paying Users
Paying MAU stabilized at 121,000 in Q3 2024, showing consistent performance across the last three quarters.
Improved Financial Metrics
Adjusted EBITDA loss improved to $13.9 million in Q3 2024 from $18.5 million in Q3 2023, showing a 25% improvement year-over-year. Net loss also decreased to $21 million from $34 million in Q3 2023.
Strong Cash Position
Skillz ended Q3 with cash, cash equivalents, and restricted cash of $311 million, providing a strong runway for future growth.