The following is a summary of the Skillz Inc. (SKLZ) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Q2 2024 revenue was reported at $25 million, down 37% year-over-year but flat sequentially.

• Adjusted EBITDA loss improved to $12.6 million compared to $18.9 million in Q2 2023.

• Net income in Q2 2024, including gains from legal settlements, was $26 million compared to a net loss of $17 million in Q2 2023.

Business Progress:

• Progress in fighting bot fraud in the skill-based gaming industry and pushing towards a new, fairer gaming environment.

• Introduction and advancement of new platform features such as Live Brackets to engage users and developers more effectively.

• Operational adjustment, including cost reductions and optimizing product engineering, data analytics, and marketing resources, to build towards sustainable growth.

Opportunities:

• Expanding marketing investments to stabilize user acquisition costs while maintaining system-wide payback periods.

• Gradual scaling in operations as favorable adjustments are made in marketing strategies to support growth investments.

Risks:

• Delays in financial reporting and ongoing compliance issues pose risks to investor confidence and could affect NYSE listing standards compliance.

More details: Skillz IR

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