12.5 C
New York
Wednesday, May 25, 2022

Skillz Inc. (SKLZ) Stock Nose-diving in Aftermarket, Here’s Why

Skillz Inc. (SKLZ), a technology company, has plunged 31.02% in aftermarket trading session. As a result, the stock is trading at $2.49 at the time of the writing. The stock closed Wednesday’s regular trading session at $3.61. The stock has slid in aftermarket owing to the announcement of financial results.


Here's Your FREE Report on the #1 Small-Cap Uranium Stock of '22.
Small-cap Uranium stocks are booming in 2022! The company we're about to show you is the ONLY small-cap stock in the space that benefits from ALL aspects of the global Uranium industry with none of the risks of running a mine. Smart investors will not be hesitating on this one!
Get the FREE Report with all the details here. .

Sponsored


Q4 2021 Results

On Wednesday, SKLZ reported the results for Q4 2021 and FY 2021. The total revenue for Q4 2021 was $108.8 million, an increase of 61% on a year-over-year basis. The net loss for the quarter stood at $99 million compared to $67 million in Q4 2020. During FY 2021, the company generated revenue of $384 million, an increase of 67% on a year-over-year basis. The net loss for the full year 2021 was $181.4 million compared to $145.5 million for the full year 2020.

Outlook for FY 2022

Meanwhile, SKLZ also announced the financial outlook for the full year 2022. The company expects to achieve a revenue target of $400 million during 2022. The expected adjusted EBITDA improvement margin for the full year 2022 stands at 10 percentage points as compared to the adjusted EBITDA margin of (47 %) in the full year 2021. The company expects to end 2022 with a RAEM growth rate above 30 percentage points for Q4 2022 compared to Q4 2021.

Comments From SKLZ CEO

Andrew Paradise, CEO of SKLZ, commented that during the fiscal year 2021, the company has made tremendous achievements in its infrastructure. The company is on a verge of a new phase in its journey in which it would aim to increase profitability via bringing enhancements in its marketing efficiency.

What’s Ahead for SKLZ?

Looking forward, analysts hold a negative evaluation of the stock because of the expectations that it is expected to perform weakly in the next couple of weeks. Hence, investors should take this view into consideration while investing in SKLZ stock.

Related Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest Articles