We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Skillz (SKLZ) Q4 Earnings Top Estimates, Revenues Lag, Down Y/Y
Read MoreHide Full Article
Skillz Inc. (SKLZ - Free Report) reported mixed fourth-quarter 2023 results, with earnings surpassing the Zacks Consensus Estimate and revenues missing the same.
On a year-over-year basis, the top declined, but the bottom line improved. The downside was due to a year-over-year decline in paying monthly active users and monthly active users.
Earnings and Revenues
In the quarter under review, Skillz reported an adjusted loss of $1.04 per share, narrower than the Zacks Consensus Estimate of $1.48. The company reported an adjusted loss of $2.4 in the prior-year quarter.
Total revenues of $29.1 million missed the consensus mark of $39.2 million by 24.1%. The top line declined 37.8% on a year-over-year basis.
During the quarter, paying monthly active users and monthly active users declined year over year by 41.7% and 30.5% to 137,000 and 896,000, respectively. However, the average revenue per paying monthly active user of $70.3 was up from $66.6 in the year-ago quarter.
Operating Highlights
During fourth-quarter 2023, the company’s total operating costs and expenses were $54.7 million, down 70.1% year over year. General and administrative expenses of $21.9 million fell 2.6% from the year-ago quarter’s levels.
Adjusted EBITDA loss during the reported quarter amounted to $12.3 million compared with a loss of $9.5 million reported in the prior-year quarter.
2023 Highlights
Total revenues in 2023 amounted to $150.1 million compared with $269.7 million in 2022.
Adjusted EBITDA loss totaled $70.1 million compared with a loss of $122.4 million a year ago.
Financial Highlights
As of Dec 31, 2023, the company had cash and cash equivalents of $302 million compared with $362.5 million at 2022-end. Long-term debt was $123.9 million, up from $272.8 million at 2022-end.
Trip.com Group Limited (TCOM - Free Report) currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here. TCOM has a trailing four-quarter earnings surprise of 53.1%, on average. Shares of TCOM have gained 17.3% in the past year.
The Zacks Consensus Estimate for TCOM’s 2024 sales and earnings per share (EPS) indicates a rise of 18.2% and 1.8%, respectively, from the year-ago levels.
Hyatt Hotels Corporation (H - Free Report) carries a Zacks Rank #1. It has a trailing four-quarter earnings surprise of 17.8% on average. Shares of H have increased 45.1% in the past year.
The Zacks Consensus Estimate for H’s 2024 sales and EPS indicates a rise of 2.9% and 30.1%, respectively, from the year-ago levels.
Royal Caribbean Cruises Ltd. (RCL - Free Report) sports a Zacks Rank #2. RCL has a trailing four-quarter earnings surprise of 26.4% on average. Shares of RCL have surged 98.4% in the past year.
The Zacks Consensus Estimate for RCL’s 2024 sales and earnings per share (EPS) indicates a rise of 14.7% and 47.9%, respectively, from the year-ago levels.
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
Skillz (SKLZ) Q4 Earnings Top Estimates, Revenues Lag, Down Y/Y
Skillz Inc. (SKLZ - Free Report) reported mixed fourth-quarter 2023 results, with earnings surpassing the Zacks Consensus Estimate and revenues missing the same.
On a year-over-year basis, the top declined, but the bottom line improved. The downside was due to a year-over-year decline in paying monthly active users and monthly active users.
Earnings and Revenues
In the quarter under review, Skillz reported an adjusted loss of $1.04 per share, narrower than the Zacks Consensus Estimate of $1.48. The company reported an adjusted loss of $2.4 in the prior-year quarter.
Skillz Inc. Price, Consensus and EPS Surprise
Skillz Inc. price-consensus-eps-surprise-chart | Skillz Inc. Quote
Total revenues of $29.1 million missed the consensus mark of $39.2 million by 24.1%. The top line declined 37.8% on a year-over-year basis.
During the quarter, paying monthly active users and monthly active users declined year over year by 41.7% and 30.5% to 137,000 and 896,000, respectively. However, the average revenue per paying monthly active user of $70.3 was up from $66.6 in the year-ago quarter.
Operating Highlights
During fourth-quarter 2023, the company’s total operating costs and expenses were $54.7 million, down 70.1% year over year. General and administrative expenses of $21.9 million fell 2.6% from the year-ago quarter’s levels.
Adjusted EBITDA loss during the reported quarter amounted to $12.3 million compared with a loss of $9.5 million reported in the prior-year quarter.
2023 Highlights
Total revenues in 2023 amounted to $150.1 million compared with $269.7 million in 2022.
Adjusted EBITDA loss totaled $70.1 million compared with a loss of $122.4 million a year ago.
Financial Highlights
As of Dec 31, 2023, the company had cash and cash equivalents of $302 million compared with $362.5 million at 2022-end. Long-term debt was $123.9 million, up from $272.8 million at 2022-end.
Zacks Rank & Other Key Picks
Skillz currently carries a Zacks Rank #2 (Buy).
Here are some other top-ranked stocks from the Zacks Consumer Discretionary sector:
Trip.com Group Limited (TCOM - Free Report) currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here. TCOM has a trailing four-quarter earnings surprise of 53.1%, on average. Shares of TCOM have gained 17.3% in the past year.
The Zacks Consensus Estimate for TCOM’s 2024 sales and earnings per share (EPS) indicates a rise of 18.2% and 1.8%, respectively, from the year-ago levels.
Hyatt Hotels Corporation (H - Free Report) carries a Zacks Rank #1. It has a trailing four-quarter earnings surprise of 17.8% on average. Shares of H have increased 45.1% in the past year.
The Zacks Consensus Estimate for H’s 2024 sales and EPS indicates a rise of 2.9% and 30.1%, respectively, from the year-ago levels.
Royal Caribbean Cruises Ltd. (RCL - Free Report) sports a Zacks Rank #2. RCL has a trailing four-quarter earnings surprise of 26.4% on average. Shares of RCL have surged 98.4% in the past year.
The Zacks Consensus Estimate for RCL’s 2024 sales and earnings per share (EPS) indicates a rise of 14.7% and 47.9%, respectively, from the year-ago levels.