The following is a summary of the Skillz Inc. (SKLZ) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Reported Q3 2024 revenue of $25 million, stable sequentially but down 33% year-over-year.

• Adjusted EBITDA loss improved by 25% year-over-year, though still at a loss of $13.9 million for Q3 2024.

Business Progress:

• Skillz is focused on improving engagement and retention through enhancing platform features.

• Lowered dependency on US-based third-party contractors by scaling up teams in Las Vegas and Bangalore.

• Continues to stabilize paid user metrics, with paying MAU remaining approximately the same as the previous quarter despite typical seasonal slowness.

• Initiatives underway to further develop products and optimize user acquisition.

Opportunities:

• Planning to increase user acquisition spend effectively through enhancing platform capabilities and investments in new content development.

• Intends to leverage market opportunities by targeting efficient growth and improved user acquisition strategies.

Risks:

• Facing challenges from ongoing legal issues regarding competitor's deceptive practices and impacts on consumer trust and industry standards.

• Negative publicity and potential regulatory repercussions from lawsuits and contested corporate practices.

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