Skillz Reports Narrowing Losses Amid Revenue Growth in 2025
Event summary
- Skillz reported Q4 2025 revenue of $30.0 million, up from $17.7 million in Q4 2024.
- Full-year 2025 revenue reached $104.5 million, a 12.4% increase from 2024.
- Net loss for 2025 narrowed to $70.4 million from $46.8 million in 2024.
- Adjusted EBITDA loss improved by 16% year-over-year to $50.5 million.
- Paying monthly active users (PMAUs) remained steady at 141,000 throughout 2025.
The big picture
Skillz's 2025 results highlight a strategic pivot towards profitability, with its AI ad-tech segment RZR achieving positive Adjusted EBITDA. The company's focus on integrating AI-driven monetization strategies reflects broader industry trends towards data-driven user engagement in the mobile gaming sector. However, the challenge remains to balance growth investments with cost discipline to achieve sustained profitability.
What we're watching
- Revenue Growth
- Whether Skillz can sustain its sequential revenue growth into 2026, particularly in its AI ad-tech segment RZR.
- Cost Management
- The pace at which Skillz reduces its operating expenses, which totaled $162.9 million in 2025.
- User Retention
- How Skillz will address the stagnant PMAU count and improve monetization per user, given the steady ARPPU.
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