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.”
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.