Skillz (SKLZ)
Market Price (12/4/2025): $5.57 | Market Cap: $98.0 MilSector: Communication Services | Industry: Interactive Home Entertainment
Skillz (SKLZ)
Market Price (12/4/2025): $5.57Market Cap: $98.0 MilSector: Communication ServicesIndustry: Interactive Home Entertainment
Investment Highlights
Why It Matters
Which of these 2 stories sounds closer for this stock?
1. Generates cash flow
The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.
2. Riding a trend
Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -96% | Weak multi-year price returns2Y Excs Rtn is -66%, 3Y Excs Rtn is -143% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -93 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -100% |
| Megatrend and thematic driversMegatrends include Digital Content & Streaming, Fintech & Digital Payments, and Social Media & Creator Economy. Themes include Gaming Content & Platforms, Show more. | Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -39%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -37%, Rev Chg QQuarterly Revenue Change % is -43% | |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -7.6%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -10% | ||
| Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 124% | ||
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -37% | ||
| Significant short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 24.65 |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -96% |
| Megatrend and thematic driversMegatrends include Digital Content & Streaming, Fintech & Digital Payments, and Social Media & Creator Economy. Themes include Gaming Content & Platforms, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -66%, 3Y Excs Rtn is -143% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -93 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -100% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -39%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -37%, Rev Chg QQuarterly Revenue Change % is -43% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -7.6%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -10% |
| Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 124% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -37% |
| Significant short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 24.65 |
Valuation, Metrics & Events
SKLZ Stock
Why The Stock Moved
Qualitative Assessment
AI Generated Analysis | Feedback
The approximately -38.4% movement in Skillz (SKLZ) stock between August 31, 2025, and December 4, 2025, can be attributed to several key factors, primarily related to financial performance, reporting issues, and operational challenges.
1. Q3 2025 Preliminary Financial Results Missed Analyst Expectations.
Skillz announced its preliminary third-quarter 2025 financial results on November 6, 2025. While revenue grew year-over-year to $27.4 million, it fell short of analyst estimates by 5.8%. More significantly, the Adjusted EBITDA loss of $11.8 million missed analyst estimates of -$7.54 million by a substantial 56%, indicating greater losses than anticipated.
2. Continued Delays in SEC Filings Raised Concerns About NYSE Compliance.
The company reported a delay in filing its Form 10-Q for the third quarter of 2025, as well as for the first and second quarters of 2025. This series of late filings led to a notice from the New York Stock Exchange (NYSE), granting Skillz an extension until December 17, 2025, to become current with its SEC filings. Such compliance issues and potential delisting risk can severely erode investor confidence.
Stock Movement Drivers
Return vs. Risk
Price Returns Compared
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| SKLZ Return | - | -63% | -93% | -38% | -19% | 6% | -99% |
| Peers Return | 25% | 9% | -48% | 15% | 1% | -3% | -21% |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 16% | 112% |
Monthly Win Rates [3] | |||||||
| SKLZ Win Rate | 75% | 33% | 17% | 50% | 33% | 60% | |
| Peers Win Rate | 44% | 64% | 35% | 56% | 52% | 45% | |
| S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 70% | |
Max Drawdowns [4] | |||||||
| SKLZ Max Drawdown | - | -64% | -94% | -59% | -30% | -26% | |
| Peers Max Drawdown | -23% | -8% | -54% | -27% | -31% | -38% | |
| S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: UIS, FORR, GVSE, RBLX, EA.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/3/2025 (YTD)
How Low Can It Go
| Event | SKLZ | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -99.5% | -25.4% |
| % Gain to Breakeven | 21123.3% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -21.0% | -33.9% |
| % Gain to Breakeven | 26.5% | 51.3% |
| Time to Breakeven | 28 days | 148 days |
Compare to UIS, FORR, GVSE, RBLX, EA
In The Past
Skillz's stock fell -99.5% during the 2022 Inflation Shock from a high on 2/5/2021. A -99.5% loss requires a 21123.3% gain to breakeven.
Preserve Wealth
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Asset Allocation
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Latest Trefis Analyses
| Title | |
|---|---|
| ARTICLES |
Trade Ideas
Select past ideas related to SKLZ. For more, see Trefis Trade Ideas.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 11302025 | PINS | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 2.9% | 2.9% | 0.0% | |
| 11212025 | TMUS | T-Mobile US | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 0.8% | 0.8% | -1.2% |
| 11212025 | Z | Zillow | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 1.3% | 1.3% | 0.0% |
| 11072025 | IRDM | Iridium Communications | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | -0.5% | -0.5% | -5.6% |
| 10032025 | TTD | Trade Desk | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | -22.5% | -22.5% | -25.6% |
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 11302025 | PINS | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 2.9% | 2.9% | 0.0% | |
| 11212025 | TMUS | T-Mobile US | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 0.8% | 0.8% | -1.2% |
| 11212025 | Z | Zillow | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 1.3% | 1.3% | 0.0% |
| 11072025 | IRDM | Iridium Communications | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | -0.5% | -0.5% | -5.6% |
| 10032025 | TTD | Trade Desk | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | -22.5% | -22.5% | -25.6% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons for Skillz
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 7.09 |
| Mkt Cap | 0.2 |
| Rev LTM | 1,921 |
| Op Inc LTM | 11 |
| FCF LTM | 19 |
| FCF 3Y Avg | 11 |
| CFO LTM | 22 |
| CFO 3Y Avg | 15 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | -4.9% |
| Rev Chg 3Y Avg | -0.7% |
| Rev Chg Q | -8.3% |
| QoQ Delta Rev Chg LTM | -2.4% |
| Op Mgn LTM | 2.3% |
| Op Mgn 3Y Avg | 1.4% |
| QoQ Delta Op Mgn LTM | -2.7% |
| CFO/Rev LTM | 5.2% |
| CFO/Rev 3Y Avg | 3.3% |
| FCF/Rev LTM | 4.6% |
| FCF/Rev 3Y Avg | 2.4% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 0.2 |
| P/S | 1.5 |
| P/EBIT | -1.4 |
| P/E | -2.1 |
| P/CFO | 8.8 |
| Total Yield | -33.2% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 1.1% |
| D/E | 0.4 |
| Net D/E | -0.0 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -14.5% |
| 3M Rtn | -26.3% |
| 6M Rtn | -12.6% |
| 12M Rtn | -2.9% |
| 3Y Rtn | -40.0% |
| 1M Excs Rtn | -14.4% |
| 3M Excs Rtn | -32.3% |
| 6M Excs Rtn | -27.3% |
| 12M Excs Rtn | -18.3% |
| 3Y Excs Rtn | -105.2% |
Returns Analyses
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 12312024 | 11062025 | 10-K 12/31/2024 |
| 9302024 | 11082024 | 10-Q 9/30/2024 |
| 6302024 | 8292024 | 10-Q 6/30/2024 |
| 3312024 | 8292024 | 10-Q 3/31/2024 |
| 12312023 | 8292024 | 10-K 12/31/2023 |
| 9302023 | 11082023 | 10-Q 9/30/2023 |
| 6302023 | 8082023 | 10-Q 6/30/2023 |
| 3312023 | 5102023 | 10-Q 3/31/2023 |
| 12312022 | 3312023 | 10-K 12/31/2022 |
| 9302022 | 11072022 | 10-Q 9/30/2022 |
| 6302022 | 8042022 | 10-Q 6/30/2022 |
| 3312022 | 5062022 | 10-Q 3/31/2022 |
| 12312021 | 3012022 | 10-K 12/31/2021 |
| 9302021 | 11092021 | 10-Q 9/30/2021 |
| 6302021 | 8102021 | 10-Q 6/30/2021 |
| 3312021 | 5142021 | 10-Q 3/31/2021 |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |