Skillz earned $230 million in revenue in 2020

by Berçem Sultan Kaya
Skillz

Mobile gaming platform Skillz announced that it had a revenue of $68 million in the Q4 of 2020. The company, which earned $35 million in revenue in the same period of 2019, saw a growth rate of 95%.

The company exceeded expectations by 8% with this growth. However, Skillz lost $9 million in the previous year, with a net loss of $ 44 million in Q4 2020.

“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, which means $ 20 million in 2019, up 92% from last year.

In addition, gross profit for the whole year reached $218 million. Thus, gross profit increased by 91%, while gross margin matched with 2019 by 95%.

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

Skillz went public in December, becoming the first mobile esports platform to do so through a listing on the New York Stock Exchange.

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