Skillz's first quarter 2026 revenue grew 33% driven by stronger monetization, despite a sharp drop in active users.

Skillz reported first quarter 2026 revenue of $29.1 million and a net loss per share of $0.69. The results showed a significant year-over-year revenue increase and a narrowed net loss, though the overall user base declined.

Key Highlights

• Revenue increased 33% year-over-year to $29.1 million, driven by improved monetization of the company's paying user base.
• Average revenue per PMAU (ARPPU) grew to $76.0, up from $59.1 in the prior-year quarter, though total Monthly Active Users (MAUs) fell to 393 thousand from 764 thousand.
• The company reported a net loss of $10.9 million, an improvement from a $17.1 million loss in the same period last year.
• Skillz was awarded $420 million in actual damages in a false advertising lawsuit against Papaya Gaming, with the final award amount to be determined by the court in June.