News

Skillz continues to grow having seen revenues of $230m in 2020

“Our first quarter as a publicly-traded company was our twentieth consecutive quarter of revenue growth"

Skillz continues to grow having seen revenues of $230m in 2020

Competitive mobile games platform Skillz ended 2020 on a high as it grossed $68 million in revenue in Q4.

In 2019, the company generated revenues of $35 million in the fourth quarter, meaning it saw a growth rate of 95 per cent year-on-year, with Q4 2020 also exceeding expectations by eight per cent.

Meanwhile, gross profit grew by 95 per cent to $64 million for the three months ending December 31st, 2020.

However, Skillz saw a net loss of $44 million in Q4 2020, while it lost $9 million the year before.

“Our first quarter as a publicly-traded company was our twentieth consecutive quarter of revenue growth,” said Skillz CEO and founder Andrew Paradise.

“We look forward to many more such quarters ahead.”

Great year

Overall, Skillz generated $230 million in revenue last year, an increase of 92 per cent year-over-year, having earned $120 million in 2019.

Furthermore, for the entire year, gross profit was up by 91 per cent as it reached $218 million, while the gross margin matched 2019 at 95 per cent.

As for net loss, the competitive games platform saw losses of $122 million last year, compared to the $24 million in 2019.

In December, Skillz went public, becoming the first mobile esports platform to do so via a listing on the New York Stock Exchange. The company first announced its public intentions last September.


Staff Writer

Kayleigh is the Staff Writer for PocketGamer.biz. Besides PGbiz and PCGI she has written as a list writer for Game Rant, rambling about any and all things games related. You can also find her on Twitter talking utter nonsense.

Comments

No comments
View options
  • Order by latest to oldest
  • Order by oldest to latest
  • Show all replies