Skillz (SKLZ) 10-Q6 May 222022 Q1 Quarterly reportFinancial data

Company Profile

Cover

Cover - shares	3 Months Ended
Cover - shares	Mar. 31, 2022	May 02, 2022
Entity Listings [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity File Number	001-39243
Entity Registrant Name	SKILLZ INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	84-4478274
Entity Address, Address Line One	PO Box 445
Entity Address, City or Town	San Francisco
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94104
City Area Code	415
Local Phone Number	762-0511
Title of 12(b) Security	Class A common stock, par value $0.0001 per share
Trading Symbol	SKLZ
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Amendment Flag	false
Entity Central Index Key	0001801661
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31
Class A common stock, par value $0.0001 per share
Entity Listings [Line Items]
Entity Common Stock, Shares Outstanding		340,808,740
Class B Common Stock
Entity Listings [Line Items]
Entity Common Stock, Shares Outstanding		68,717,138

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 114,558	$ 241,332
Marketable securities, current	369,566	319,055
Accounts receivable, net	13,230	13,497
Prepaid expenses and other current assets	21,967	16,704
Total current assets	519,321	590,588
Property and equipment, net	8,629	9,988
Operating lease right-of-use assets, net	13,977	14,511
Marketable securities, non-current	169,725	182,629
Non-marketable equity securities	55,649	55,649
Intangible assets, net	75,066	79,137
Goodwill	86,436	86,845
Other long-term assets	3,733	3,478
Total assets	932,536	1,022,825
Current liabilities:
Accounts payable	13,305	19,753
Operating lease liabilities, current	2,005	2,110
Other current liabilities	57,607	64,969
Total current liabilities	72,917	86,832
Operating lease liabilities, non-current	13,199	13,567
Common stock warrant liabilities, non-current	1,831	6,293
Long-term debt, non-current	279,713	278,889
Other long-term liabilities	13,238	13,544
Total liabilities	380,898	399,125
Commitments and contingencies (Note 9)
Stockholders’ equity:
Preferred stock $0.0001 par value; 10 million shares authorized — 0 issued and outstanding as of March 31, 2022 and December 31, 2021	0	0
Common stock $0.0001 par value; 625 million shares authorized; Class A common stock – 500 million shares authorized; 341 million and 340 million shares issued and outstanding as of March 31, 2022 and December 31, 2021, respectively; Class B common stock – 125 million shares authorized; 69 million shares issued and outstanding as of March 31, 2022 and December 31, 2021	40	40
Additional paid-in capital	1,121,697	1,043,600
Accumulated other comprehensive loss	(2,294)	(248)
Accumulated deficit	(567,805)	(419,692)
Total stockholders’ equity	551,638	623,700
Total liabilities and stockholders’ equity	$ 932,536	$ 1,022,825

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2022	Dec. 31, 2021
Convertible preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Convertible preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	625,000,000	625,000,000
Class A Common Stock
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	341,000,000	340,000,000
Common stock, shares outstanding (in shares)	341,000,000	340,000,000
Class B Common Stock
Common stock, par value (in dollars per share)	$ 0.0001
Common stock, shares authorized (in shares)	125,000,000	125,000,000
Common stock, shares issued (in shares)	69,000,000	69,000,000
Common stock, shares outstanding (in shares)	69,000,000	69,000,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Statement [Abstract]
Revenue	$ 93,438	$ 83,677
Costs and expenses:
Cost of revenue	9,265	4,256
Research and development	18,653	7,282
Sales and marketing	117,332	96,323
General and administrative	92,792	27,284
Total costs and expenses	238,042	135,145
Loss from operations	(144,604)	(51,468)
Interest expense, net	(8,157)	(24)
Change in fair value of common stock warrant liabilities	4,462	(2,108)
Other (expense) income, net	(27)	50
Loss before income taxes	(148,326)	(53,550)
(Benefit from) provision for income taxes	(213)	42
Net loss	$ (148,113)	$ (53,592)
Net loss per share attributable to common stockholders:
Basic (in dollars per share)	$ (0.37)	$ (0.15)
Diluted (in dollars per share)	$ (0.37)	$ (0.16)
Weighted average shares outstanding:
Basic (in shares)	401,653,954	356,818,954
Diluted (in shares)	401,653,954	359,827,649
Other comprehensive loss:
Change in unrealized loss on available-for-sale investments, net of tax	$ (2,046)	$ 0
Total other comprehensive loss:	(2,046)	0
Comprehensive loss	$ (150,159)	$ (53,592)

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($) $ in Thousands	Total	Common stock	Additional paid-in capital	Accumulated Other Comprehensive Loss	Accumulated deficit
Shares, beginning balance (in shares) at Dec. 31, 2020		369,797,524
Beginning balance at Dec. 31, 2020	$ 56,787	$ 37	$ 295,065	$ 0	$ (238,315)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options and release of restricted stock units (in shares)		268,426
Issuance of common stock upon exercise of stock options and release of restricted stock units	12		12
Issuance of common stock upon exercise of warrants and other, net (in shares)		8,741,863
Issuance of common stock upon exercise of warrants and other, net	172,519		172,519
Net cash contributions from follow-on offering (in shares)		17,000,000
Net cash contributions from follow-on offering	402,240	$ 2	402,238
Stock-based compensation	10,945		10,945
Other comprehensive loss	0
Net income (loss)	(53,592)				(53,592)
Shares, ending balance (in shares) at Mar. 31, 2021		395,807,813
Ending balance at Mar. 31, 2021	588,911	$ 39	880,779	0	(291,907)
Shares, beginning balance (in shares) at Dec. 31, 2021		408,753,837
Beginning balance at Dec. 31, 2021	$ 623,700	$ 40	1,043,600	(248)	(419,692)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options and release of restricted stock units (in shares)	774,983	879,936
Issuance of common stock upon exercise of stock options and release of restricted stock units	$ 236		236
Stock-based compensation	77,925		77,925
Other comprehensive loss	(2,046)			(2,046)
Net income (loss)	(148,113)				(148,113)
Other, net	(64)		(64)
Shares, ending balance (in shares) at Mar. 31, 2022		409,633,773
Ending balance at Mar. 31, 2022	$ 551,638	$ 40	$ 1,121,697	$ (2,294)	$ (567,805)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Operating Activities
Net loss	$ (148,113)	$ (53,592)
Adjustment to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	5,539	555
Stock-based compensation	77,925	10,945
Accretion of unamortized debt discount and amortization of debt issuance costs	824	9
Amortization of premium (accretion of discount) for marketable securities	984	0
Deferred income taxes	(318)	0
Change in fair value of common stock warrant liabilities	(4,462)	2,108
Changes in operating assets and liabilities:
Accounts receivable, net	267	0
Prepaid expenses and other assets	(5,676)	(4,499)
Operating lease right-of-use assets	534	(13,453)
Accounts payable	(5,613)	(4,060)
Operating lease liabilities	(473)	14,386
Other accruals and liabilities	(4,868)	8,448
Net cash used in operating activities	(83,450)	(39,153)
Investing Activities
Purchases of property and equipment, including internal-use software	(107)	(659)
Purchases of marketable securities	(149,495)	0
Proceeds from maturities of marketable securities	83,265	0
Proceeds from sales of marketable securities	25,593	0
Net cash used in investing activities	(40,744)	(659)
Financing Activities
Principal payments on finance leases obligations	(840)	0
Payments for debt issuance costs	(1,976)	0
Proceeds from issuance of common stock in follow-on offering, net of underwriting commissions, and offering costs	0	402,817
Payments made towards deferred offering costs	0	(13,167)
Net proceeds from exercise of stock options and issuance of common stock	236	12
Net cash (used in) provided by financing activities	(2,580)	389,662
Net change in cash, cash equivalents and restricted cash	(126,774)	349,850
Cash, cash equivalents and restricted cash – beginning of year	244,252	265,648
Cash, cash equivalents and restricted cash – end of period	117,478	615,498
Cash paid during the period for:
Interest	86	15
Noncash investing and financing activities:
Deferred offering costs and issuance costs in accounts payable and accrued liabilities	28	1,449
Warrant exercise receivable	0	104,558
Warrant liability reclassified to additional paid-in capital	$ 0	$ 67,961

Description of the Business and

Description of the Business and Basis of Presentation	3 Months Ended
Description of the Business and Basis of Presentation	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of the Business and Basis of Presentation	Description of the Business and Basis of Presentation Business Skillz (the “Company” or “Skillz”) is a mobile eSports platform, driving the future of entertainment by accelerating the convergence of sports, video games and media. The Company’s principal activities are to develop and support a proprietary online-hosted technology platform that enables independent game developers to host tournaments and provide competitive gaming activity (“Competitions”) to end-users worldwide. Basis of Presentation The Company’s condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) as determined by the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) and pursuant to the regulations of the U.S. Securities and Exchange Commission (“SEC”). Unaudited Interim Financial Statements The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. GAAP for interim financial information and in accordance with the rules and regulations of the SEC. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The unaudited condensed consolidated financial statements reflect all normal and recurring adjustments that are, in the opinion of the Company’s management, necessary for the fair presentation of the results of operations for the interim periods. Operating results for the three months ended March 31, 2022 are not necessarily indicative of the results that may be expected for the year ending December 31, 2022. These unaudited interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021, as filed with the SEC on March 1, 2022.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
Summary of Significant Accounting Policies	Mar. 31, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Use of Estimates The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make certain estimates, judgments, and assumptions that affect the reported amounts of assets and liabilities and the related disclosures at the date of the condensed consolidated financial statements, as well as the reported amounts of revenues and expenses during the periods presented. Estimates are used in several areas including, but not limited to, stock-based compensation, valuation of common stock warrants, the fair values of goodwill and intangible assets and the useful lives of the Company’s intangible assets. The Company bases these estimates on historical experience and on various other assumptions that it believes are reasonable under the circumstances, the results of which form the basis for making judgments about the carrying amounts of assets and liabilities. Actual results could differ materially from these estimates. Revenue Recognition The Company generates substantially all its revenues by providing a service to the game developers aimed at improving the monetization of their game content. The monetization service provided by Skillz allows developers to offer multi-player competition to their end-users which increases end-user retention and engagement. Skillz provides developers with a software development kit (“SDK”) that they can download and integrate with their existing games. The SDK serves as a data interface between Skillz and the game developers that enables Skillz to provide monetization services to the developer. The Company recognizes revenue for its services in accordance with the FASB Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers (“ASC 606”). Revenues from Contracts with Customers The Company applies the five-step model to achieve the core principle of ASC 606. The Company determined that its customer in the provision of its technology platform and services is the game developer. The Company’s ordinary activities consist of providing game developers services through access to its technology platform using the Skillz SDK. The SDK acts as an application programming interface enabling communication of data between Skillz and the game developers, which when integrated with the developer’s game content, facilitates end-user registration into Competitions, managing and hosting end-user Competition accounts, matching players of similar skill levels, collecting end-user entry fees, distributing end-user prizes, resolving end-user disputes pertaining to their participation in Competitions, and running third-party marketing campaigns (“Monetization Services”). The Company provides Monetization Services to game developers enabling them to offer competitive games to their end-users. These activities are not distinct from each other as the Company provides an integrated service enabling the game developers to provide the competitive game service to the end-users, and as a result, they do not represent separate performance obligations. The Company is entitled to a revenue share based on total entry fees for paid Competitions, regardless of how they are paid, net of end-user prizes (i.e., winnings from the Competitions) and other costs to provide the Monetization Services. The game developers’ revenue share, however, is calculated solely based upon entry fees paid by net cash deposits received from end-users. End-user incentives are not paid for by game developers. In addition, the Company reduces revenue for end-user incentives which are treated as a reduction of revenue. The Company collects the entry fees and related charges from end-users on behalf of game developers using the end-user’s pre-authorized credit card or PayPal account and withholds its fees before making the remaining disbursement to the game developer; thus, the game developer’s ability and intent to pay is not subject to significant judgment. Revenue is recognized at the time the performance obligation is satisfied by transferring control of the promised service in an amount that reflects the consideration that the Company expects to receive in exchange for the Monetization Services. The Company recognizes revenue upon completion of a game, which is when its performance obligation to the game developer is satisfied. The Company does not have contract assets or contract liabilities as the payment of the transaction price is concurrent with the fulfillment of the services. At the time of game completion, the Company has the right to receive payment for the services rendered. The Company’s agreements with game developers can generally be terminated for convenience by either party upon thirty days prior written notice, and in certain of the Company’s larger developer agreements, the developer, if required by the Company, must continue to make its games available on the platform for a period of up to twelve months. As the Company is able to terminate the developer agreements at its convenience, the Company has concluded the contract term for revenue recognition does not extend beyond the contractual notification period. The Company did not have any transaction price allocated to performance obligations that are unsatisfied (or partially satisfied) as of March 31, 2022 and 2021. Games provided by two developer partners, accounted for 41% and 38% of the Company’s revenue in the three months ended March 31, 2022, and 42% and 41% of the Company’s revenue in the three months ended March 31, 2021. End-User Incentive Programs To drive traffic to the platform, the Company provides promotions and incentives to end-users in various forms. Evaluating whether a promotion or incentive is a payment to a customer may require significant judgment. Promotions and incentives which are consideration payable to a customer are recognized as a reduction of revenue at the later of when revenue is recognized or when the Company pays or promises to pay the incentive. Promotions and incentives recorded as sales and marketing expense are recognized when the related cost is incurred by the Company. In either case, the promotions and incentives are recognized when they are used by end-users to enter into a paid Competition. • Marketing promotions and discounts accounted for as a reduction of revenue. These promotions are typically pricing actions in the form of discounts that reduce the end-user entry fees and are offered on behalf of the game developers. Although not required based on the Company’s agreement with its developers, the Company considers that the game developers have a valid expectation that certain incentives will be offered to end-users. The determination of a valid expectation is based on the evaluation of all information reasonably available to the game developers regarding the Company’s customary business practices, published policies and specific statements. An example of an incentive for which the game developer has a valid expectation is Ticketz, which are a virtual currency earned for every Competition played based on the amount of the entry fee (“Ticketz”). Ticketz can be redeemed for prizes, including bonus cash prizes, a promotional incentive that cannot be withdrawn and can only be used by end-users to enter into paid entry fee contests (“Bonus Cash”). Another example is initial deposit Bonus Cash which is a promotional incentive that can be earned in fixed amounts when an end-user makes an initial deposit on the Skillz platform. Bonus Cash can only be used by end-users to enter into future paid entry fee Competitions and cannot be withdrawn by end-users. For the three months ended March 31, 2022 and 2021, the Company recognized a reduction of revenue of $16.3 million and $17.6 million, respectively, related to these end-user incentives. • Marketing promotions accounted for as sales and marketing expense. When the Company concludes that the game developers do not have a valid expectation that the incentive will be offered, the Company records the related cost as sales and marketing expense. The Company’s assessment is based on an evaluation of all information reasonably available to the game developers regarding the Company’s customary business practices, published policies and specific statements. These promotions are offered to end-users to draw, re-engage, or generally increase end-users’ use of the Company’s platform. An example of this type of incentive is limited-time Bonus Cash offers, which are targeted to specific end-users, typically those who deposit more frequently or have not made a deposit recently, via email or in-app promotions. The Company targets groups of end-users differently, offering specific promotions it thinks will best stimulate engagement. Similar to Bonus Cash earned from a redemption of Ticketz or an initial deposit, limited-time Bonus Cash can only be used by end-users to enter into future paid entry fee competitions and cannot be withdrawn by end-users. The Company also hosts engagement marketing leagues run over a period of days or weeks, which award league prizes in the form of cash or luxury goods to end-users with the most medals at the end of the league. End-users accumulate medals by winning Skillz enabled paid entry fee competitions. Skillz determines whether or not to run a league, what prizes should be awarded, over what time period the league should run, and to which end-users the prizes should be paid, all at its discretion. The league parameters vary from one league to the next and are not reasonably known to the game developers. League prizes in the form of cash can be withdrawn or used by end-users to enter into future paid entry fee competitions. For the three months ended March 31, 2022 and 2021, the Company recognized sales and marketing expense of $37.0 million and $33.3 million, respectively, related to these end-user incentives. From time to time, the Company issues credits or refunds to end-users that are unsatisfied by the level of service provided by the game developer. There is no contractual obligation for the Company to refund such end-users nor is there a valid expectation by the game developers for the Company to issue such credits or refunds to end-users on their behalf. The Company accounts for credits or refunds, which are not recoverable from the game developer, as sales and marketing expenses when incurred. Total marketing promotions accounted for as sales and marketing expense recognized in three months ended March 31, 2022 and 2021 were $42.1 million and $36.0 million, respectively. Cash, Cash Equivalents and Restricted Cash Cash and cash equivalents consist of cash, commercial paper, money market funds and U.S government agency securities with maturities of three months or less when purchased. Restricted cash maintained under an agreement that legally restricts the use of such funds is not included within cash and cash equivalents and is reported within other long-term assets. Restricted cash is comprised of $2.9 million which is pledged in the form of a letter of credit for the Company’s new headquarters in San Francisco. A reconciliation of the Company’s cash and cash equivalents in the condensed consolidated balance sheets to cash, cash equivalents and restricted cash in the condensed consolidated statement of cash flows is as follows: March 31, December 31, 2022 2021 Cash and cash equivalents $ 114,558 $ 241,332 Restricted cash 2,920 2,920 Cash, cash equivalents and restricted cash $ 117,478 $ 244,252 Concentrations of Credit Risk Financial instruments that potentially subject the Company to significant concentrations of credit risk consist of cash, cash equivalents, restricted cash, and marketable securities. Although the Company deposits its cash with multiple well-established financial institutions, the deposits, at times, may exceed federally insured limits. The Company has not experienced any losses on its deposits of cash and cash equivalents. Marketable securities are primarily consisted of U.S government, corporate debt securities, asset backed securities, commercial paper, and debt instruments issued by foreign governments. The Company limits the amount of credit exposure to any one issuer. Management believes that the institutions are financially stable and, accordingly, minimal credit risk exists. Accounts Receivable, Net Accounts receivable, net, is comprised of trade accounts receivable recorded at the invoiced amounts for programmatic media campaigns, net of an allowance for credit losses. The allowance for credit losses is recorded as an offset to accounts receivable and changes in such are classified as general and administrative expense in the consolidated statements of operations and comprehensive loss. The Company assesses collectability by reviewing accounts receivable on a collective basis where similar characteristics exist and on an individual basis when there are specific customers with known disputes or collectability issues. In determining the amount of the allowance for credit losses, the Company considers historical collectability based on past due status and makes judgments about the creditworthiness of customers based on ongoing credit evaluations. The Company also considers customer-specific information, current market conditions and reasonable and supportable forecasts of future economic conditions to inform adjustments to historical loss data. At March 31, 2022, the Company’s allowance for credit losses on accounts receivable was not significant to the condensed consolidated financial statements. Fair Value Measurement The Company applies fair value accounting for financial assets and liabilities and non-financial assets and liabilities that are recognized or disclosed at fair value in the condensed consolidated financial statements on a recurring basis. The Company defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining fair value measurements for assets and liabilities, the Company considers the principal or most advantageous market in which it would transact and the market-based risk measurements or assumptions that market participants would use in pricing the asset or liability, such as risks inherent in valuation techniques, transfer restrictions and credit risk. Fair value is estimated by applying the following hierarchy, which prioritizes the inputs used to measure fair value into three levels and bases the categorization within the hierarchy upon the lowest level of input that is available and significant to the fair value measurement: • Level 1 — Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. • Level 2 — Inputs reflect quoted prices for identical assets or liabilities in markets that are not active; quoted prices for similar assets or liabilities in active markets; inputs other than quoted prices that are observable for the assets or liabilities; or inputs that are derived principally from or corroborated by observable market data by correlation or other means. • Level 3 — Unobservable inputs reflecting management’s estimate of assumptions incorporated in valuation techniques used to determine fair value. These assumptions are required to be consistent with market participant assumptions that are reasonably available. The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Assets and liabilities measured at fair value are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Certain financial instruments, including debt, are not measured at fair value on a recurring basis in the consolidated balance sheets. The fair value of debt was estimated using primarily level 2 inputs including quoted market prices or present value of future payments discounted by the market interest rates or the fixed rates based on current rates offered to the Company for debt with similar terms and maturities. Investments The Company considers all highly liquid interest-earning investments with a maturity of three months or less at the date of purchase to be cash equivalents. The fair values of these investments approximate their carrying values. In general, investments with original maturities of greater than three months and remaining maturities of less than one year are classified as short-term investments. Investments with maturities beyond one year are classified as non-current marketable securities. Marketable securities are classified as available-for-sale and realized gains and losses are recorded using the specific identification method. Changes in fair value, excluding credit losses and impairments, are recorded in other comprehensive loss. Fair value is calculated based on publicly available market information or other estimates determined by management. If the cost of an investment exceeds its fair value, the Company evaluates, among other factors, general market conditions, credit quality of debt instrument issuers, and the extent to which the fair value is less than cost. To determine credit losses, the Company employs a systematic methodology that considers available quantitative and qualitative evidence. In addition, the Company considers specific adverse conditions related to the financial health of, and business outlook for, the investee. If the Company plans to sell the security or it is more likely than not that the Company will be required to sell the security before recovery, then a decline in fair value below cost is recorded as an impairment charge in other (expense) income, net and a new cost basis in the investment is established. If market, industry, and/or investee conditions deteriorate, the Company may incur future impairments. The Company has elected to measure its existing investments in non-marketable equity securities at cost, less impairments, with remeasurements to fair value only upon the occurrence of observable price changes in orderly transactions for the identical or similar securities of the same issuer (“measurement alternative”). This election is reassessed each reporting period to determine whether non-marketable equity securities have a readily determinable fair value, in which case they would no longer be eligible for this election and would be measured at fair value. The Company evaluates its non-marketable equity securities for impairment at each reporting period based on a qualitative assessment that considers various potential impairment indicators. Impairment indicators might include, but would not necessarily be limited to, a significant deterioration in the earnings performance, credit rating, asset quality, or business prospects of the investee, a significant adverse change in the regulatory, economic, or technological environment of the investee, a bona fide offer to purchase, an offer by the investee to sell, or a completed auction process for the same or similar securities for an amount less than the carrying amount of the investments in those securities. If an impairment exists, a loss is recognized in the condensed consolidated statements of operations and comprehensive loss for the amount by which the carrying value exceeds the fair value of the investment. Gains and losses resulting from the remeasurement of non-marketable equity securities, including impairment, are recorded through other (expense) income, net in the condensed consolidated statement of operations and comprehensive loss. The Company separately presents investments in non-marketable equity securities within long-term assets on the condensed consolidated balance sheets. Advertising and Promotional Expense Advertising and promotional expenses are included in sales and marketing expenses within the condensed consolidated statements of operations and comprehensive loss and are expensed when incurred. For the three months ended March 31, 2022 and 2021, advertising expenses, not including marketing promotions related to the Company’s end-user incentive programs, were $59.7 million and $54.5 million, respectively. Public and Private Common Stock Warrant Liabilities As part of the Company’s initial public offering, it issued to third party investors 69.0 million units, consisting of one share of Class A common stock and one-fourth of one warrant, at a price of $10.00 per unit. Each whole warrant entitled the holder to purchase one share of Class A common stock at an exercise price of $11.50 per share (the “Public Warrants”). Simultaneously, the Company completed the private sale of 10,033,333 warrants at a purchase price of $1.50 per warrant (the “Private Warrants”) of which 5,016,666 Private Warrants were subsequently forfeited. Each Private Warrant allows the holder to purchase one share of Class A common stock at $11.50 per share. There were zero Public Warrants and 4,535,728 Private Warrants outstanding as of March 31, 2022. The Private Warrants and the shares of common stock issuable upon the exercise of the Private Warrants are not transferable, assignable or salable, subject to certain limited exceptions. Additionally, the Private Warrants are exercisable for cash or on a cashless basis, and are non-redeemable so long as they are held by the initial purchasers or their permitted transferees. If the Private Warrants are held by someone other than the initial purchasers or their permitted transferees, the Private Warrants will be redeemable by the Company and exercisable by such holders on the same basis as the Public Warrants. The Company evaluated the Public and Private Warrants under ASC 815-40, Derivatives and Hedging—Contracts in Entity’s Own Equity , (“ASC 815-40”), and concluded that they do not meet the criteria to be classified in stockholders’ equity. Specifically, the exercise of the Public and Private Warrants may be settled in cash upon the occurrence of a tender offer or exchange that involves 50% or more of the Company’s Class A stockholders. As there are two classes of common stock, not all of the stockholders need to participate in such tender offer or exchange to trigger the potential cash settlement and the Company does not control the occurrence of such an event, the Company concluded that the Public Warrants and Private Warrants do not meet the conditions to be classified in equity. Since the Public and Private Common Stock Warrants meet the definition of a derivative under ASC 815, the Company recorded these warrants as liabilities on the balance sheet at fair value, with subsequent changes in their respective fair values recognized in the condensed consolidated statement of operations and comprehensive loss at each reporting date. Because the Public Warrants were publicly traded and thus had an observable market price in an active market, they were valued based on their trading price as of each reporting date. The Private Warrants are valued using the Black-Scholes-Merton Option (“BSM”) pricing model that is based on the individual characteristics of the warrants on the valuation date, which include the Company’s stock price and assumptions for expected volatility, expected life and risk-free interest rate, as well as the present value of the minimum cash payment component of the instrument for the warrants, when applicable. Changes in the assumptions used could have a material impact on the resulting fair value of each warrant. The primary inputs affecting the value of the warrant liability are the Company’s stock price and volatility in the Company's stock price, as well as assumptions about the probability and timing of certain events, such as a change in control or future equity offerings. Increases in the fair value of the underlying stock or increases in the volatility of the stock price generally result in a corresponding increase in the fair value of the warrant liability; conversely, decreases in the fair value of the underlying stock or decreases in the volatility of the stock price generally result in a corresponding decrease in the fair value of the warrant liability. Stock-Based Compensation The Company measures and recognizes compensation expense for all stock-based awards based on estimated grant-date fair values recognized over the requisite service period. For awards that vest solely based on a service condition, the Company recognizes stock-based compensation expense on a straight-line basis over the requisite service period. The compensation expense related to awards with performance conditions is recognized over the requisite service period when the performance conditions are probable of being achieved. The compensation expense related to awards with market conditions is recognized on an accelerated attribution basis over the requisite service period identified as the derived service period over which the market conditions are expected to be achieved, and is not reversed if the market condition is not satisfied. See Note 9 for more information. The Company accounts for forfeitures as they occur. If an employee stock-based award is canceled without the concurrent grant or offer of a replacement award, the cancellation should be treated as a settlement for no consideration and any previously unrecognized compensation cost shall be recognized at the cancellation date. Stock-based awards granted to employees are primarily stock options and restricted stock units. The Company has primarily granted restricted stock units (“RSUs”), which have a service based vesting condition over a four-yea For awards with market conditions, the Company determines the grant date fair value utilizing a Monte Carlo valuation model, which incorporates various assumptions including expected stock price volatility, expected term, risk-free interest rates, expected date of a qualifying event, expected capital raise percentage and market capitalization milestones. Given the Company’s limited market trading history, it has estimated the volatility of its common stock on the date of grant of awards with market conditions based on the weighted average historical stock price volatility of comparable publicly-traded companies in its industry group. The Company estimated the expected term of its awards with market conditions based on various exercise scenarios, as these awards are not considered “plain vanilla.” The Company utilized a risk-free interest rate based on the U.S. Treasury yield curve in effect at the time of grant. The Company estimated the expected date of a qualifying event, the expected capital raise percentage and the expected achievement date of market capitalization milestones based on management’s expectations at the time of measurement of the award’s value. Segments Operating segments are defined as components of an entity for which separate financial information is available and that is regularly reviewed by the Chief Operating Decision Maker (“CODM”) in deciding how to allocate resources to an individual segment and in assessing performance. During the three months ended March 31, 2022, the Company continued to operate as a single operating and reportable segment as the CODM reviews financial information presented on a consolidated basis for the purposes of making operating decisions, allocation of resources, and evaluating financial performance. Recently Issued Accounting Pronouncements Not Yet Adopted In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which requires entities to recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Topic 606, Revenue from Contracts with Customers, instead of fair value at the acquisition date in accordance with Topic 805. The amendments in ASU 2021-08 will result in the acquirer recording acquired contract assets and liabilities on the same basis that would have been recorded by the acquiree before the acquisition under ASC Topic 606. The amendments in ASU 2021-08 are effective for fiscal years beginning after December 15, 2022, with early adoption permitted. The Company is evaluating the effect of adopting this new accounting guidance.

Business Combinations

Business Combinations	3 Months Ended
Business Combinations	Mar. 31, 2022
Business Combinations [Abstract]
Business Combinations	Business Combinations Acquisition of Aarki, Inc. On July 16, 2021, the Company completed the acquisition of Aarki, Inc. (“Aarki”) and acquired 100% of the outstanding equity and voting interest of Aarki under the terms of the Agreement and Plan of Merger. The Company transferred $162.3 million in consideration comprised of $95.3 million in cash and the remaining $67.1 million comprised of 4.4 million shares of Skillz Class A common stock to the existing Aarki stockholders. The addition of Aarki’s technology-driven marketing platform is expected to result in significant efficiencies in user-acquisition costs, which can be reinvested to acquire more users to accelerate growth and provide a broader product offering, including media buying capabilities to better serve game developers. The following table summarizes the fair value of the purchase price to acquire Aarki: Description Amount Cash $ 95,296 Common stock issued (1) 67,051 Total purchase price $ 162,347 _______________ (1) The fair value of the Skillz Class A Common Stock issued in the merger was based on 4,401,663 shares issued on the July 16, 2021 acquisition date at the closing price of the Company’s common stock on such date of $15.23 per share. The following is an allocation of the purchase price as of July 16, 2021, the acquisition closing date, based on an estimate of the fair value of the assets acquired and liabilities assumed by the Company in the acquisition: Description Amount Cash and cash equivalents $ 11,309 Accounts receivable, net 13,700 Prepaid expenses and other current assets 356 Property, plant and equipment, net 5,075 Intangible assets, net 86,800 Other long-term assets 91 Accounts payable (445) Accrued professional fees (3,145) Other current liabilities (16,471) Deferred tax liabilities (20,075) Other long-term liabilities (1,693) Identifiable net assets acquired 75,502 Goodwill 86,845 Total purchase price $ 162,347 The following is a summary of identifiable intangible assets acquired and their expected lives as of the acquisition closing date: Type Weighted-average useful life (in years) Fair Value Developed technology 8 $ 60,400 Customer relationships 3 26,200 Trademark and trade name 0.3 200 Total identifiable intangible assets acquired $ 86,800 During the first quarter of 2022, the Company recorded a measurement period adjustment of $0.4 million to increase the carrying value of the identifiable net assets acquired, with a corresponding decrease to goodwill. The adjustment is related to a subsequent adjustment to Aarki’s federal and state tax payable as of the acquisition closing date. The following table presents details of changes to the Company’s goodwill balance for the three months ended March 31, 2022: Goodwill Balance at December 31, 2021 $ 86,845 Goodwill adjustment (409) Balance as of March 31, 2022 $ 86,436

Balance Sheet Components

Balance Sheet Components	3 Months Ended
Balance Sheet Components	Mar. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Balance Sheet Components	Balance Sheet Components Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consisted of the following as of March 31, 2022 and December 31, 2021: March 31, December 31, 2022 2021 Credit card processing reserve $ 10,450 $ 9,527 Prepaid expenses 10,427 5,681 Other current assets 1,090 1,496 Prepaid expenses and other current assets $ 21,967 $ 16,704 Intangible Assets, Net The components of intangible assets consisted of the following as of March 31, 2022: Weighted Average Remaining Useful Life (in years) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Developed technology 7.33 $ 60,400 $ (5,348) $ 55,052 Customer relationships 2.33 26,200 (6,186) 20,014 Trademark and trade name 0.00 200 (200) — Intangible assets, net $ 86,800 $ (11,734) $ 75,066 The following table sets forth the activity related to finite-lived intangible assets: Three Months Ended March 31, 2022 Beginning balance at December 31, 2021 $ 79,137 Amortization (4,071) Ending balance at March 31, 2022 $ 75,066 The following table summarizes amortization expense associated with finite-lived intangible assets recognized in the condensed consolidated statements of operations and comprehensive loss for the three months ended March 31, 2022 as follows: Three Months Ended March 31, 2022 Cost of revenue $ 1,888 Sales and marketing 2,183 General and administrative — Total amortization expense $ 4,071 The following table outlines the estimated future amortization expense related to finite intangible assets as of March 31, 2022: Amount 2022 $ 12,212 2023 16,283 2024 12,281 2025 7,550 2026 7,550 Thereafter 19,190 Total $ 75,066 Other Current Liabilities Other current liabilities consisted of the following as of March 31, 2022 and December 31, 2021: March 31, December 31, 2022 2021 Accrued sales and marketing expenses $ 13,425 $ 28,895 Accrued compensation 10,737 12,108 Accrued publisher fees 7,242 3,912 End-user liability, net 3,562 4,118 Accrued developer revenue share 1,147 1,655 Short-term lease obligations 2,043 2,447 Accrued legal expenses 4,757 5,126 Accrued interest expense 8,773 956 Other accrued expenses 5,921 5,752 Other current liabilities $ 57,607 $ 64,969

Fair Value Measurements

Fair Value Measurements	3 Months Ended
Fair Value Measurements	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements As of March 31, 2022 and December 31, 2021, the recorded values of cash and cash equivalents, restricted cash, accounts receivable and accounts payable approximate their respective fair values due to the short-term nature of the instruments. Cash and cash equivalents held by the Company as of March 31, 2022 and December 31, 2021 were $114.6 million and $241.3 million, respectively, and were comprised of cash on hand, money market funds, and highly liquid investments with original contractual maturity dates of three months or less. Cash and money market funds are classified within Level 1 of the fair value hierarchy. Highly liquid investments such as commercial papers and corporate bonds are classified within Level 2 of the fair value hierarchy. The following table presents the Company’s assets and liabilities that are measured at fair value on a recurring basis as of March 31, 2022 and December 31, 2021: As of March 31, 2022 Level 1 Level 2 Level 3 Total Assets: Available-for-Sale Investments Asset backed securities $ — $ 113,038 $ — $ 113,038 Certificates of deposits — 6,000 — 6,000 Corporate notes and bonds — 234,237 — 234,237 Commercial paper — 129,202 — 129,202 Foreign government securities — 18,151 — 18,151 US Government Securities 44,974 27,959 — 72,933 Total assets $ 44,974 $ 528,588 $ — $ 573,562 Liabilities: Private Common Stock Warrants — — 1,831 1,831 Total liabilities $ — $ — $ 1,831 $ 1,831 As of December 31, 2021 Level 1 Level 2 Level 3 Total Assets: Available-for-Sale Investments Asset backed securities $ — $ 111,552 $ — $ 111,552 Certificates of deposits — 6,002 — 6,002 Corporate notes and bonds — 206,989 — 206,989 Commercial paper — 109,391 — 109,391 Foreign government securities — 8,181 — 8,181 US Government Securities 86,787 — — 86,787 Total assets $ 86,787 $ 442,114 $ — $ 528,902 Liabilities: Private Common Stock Warrants — — 6,293 6,293 Total liabilities $ — $ — $ 6,293 $ 6,293 Available-for-Sale Investments Available-for-sale investments were classified within Level 1 or Level 2 because the Company’s use quoted market prices or alternative pricing sources and models utilizing market observable inputs to determine their fair value. The market values of Level 2 investments are determined based on observable inputs for the securities other than quoted prices, such as interest rates, yield curves, and credit spreads, or quoted prices for identical or similar securities in markets that are not considered active. There were no transfers between levels during the periods presented. Private Common Stock Warrants The Private Warrants were classified within Level 3 as they were valued based on a BSM pricing model, which involved the use of certain unobservable inputs, such as expected volatility estimated based on the average historical stock price volatility of comparable companies. The following is a rollforward of balances for Private Warrants: Private Warrants Balance at December 31, 2021 $ 6,293 Fair market value adjustment (4,462) Balance as of March 31, 2022 $ 1,831

Investments

Investments	3 Months Ended
Investments	Mar. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Investments	Investments Investment Components The components of investments were as follows: As of March 31, 2022 Adjusted Cost Basis Unrealized Gains Unrealized Losses Fair Value Cash and Cash Equivalents Marketable Securities - Marketable Securities - Asset backed securities $ 113,392 $ 3 $ (357) $ 113,038 $ — $ 6,364 $ 106,674 Certificates of deposits 6,005 — (5) 6,000 — 6,000 — Corporate notes and bonds 235,942 2 (1,707) 234,237 — 171,187 63,051 Commercial paper 129,290 4 (93) 129,202 26,282 102,921 — Money market funds 5,615 — — 5,615 5,615 — — Foreign government securities 18,289 — (137) 18,151 — 18,151 — US government and agency securities 72,938 1 (5) 72,934 7,989 64,943 — Total investments $ 581,471 $ 10 $ (2,304) $ 579,177 $ 39,886 $ 369,566 $ 169,725 As of December 31, 2021 Adjusted Cost Basis Unrealized Gains Unrealized Losses Fair Value Cash and Cash Equivalents Marketable Securities - Marketable Securities - Asset backed securities $ 111,619 $ 1 $ (68) $ 111,552 $ — $ 5,372 $ 106,180 Certificates of deposits 6,002 — — 6,002 — 6,002 — Corporate notes and bonds 207,169 21 (201) 206,990 3,026 132,688 71,276 Commercial paper 109,391 — — 109,391 24,193 85,198 — Money market funds 51,768 — — 51,768 51,768 — Foreign government securities 8,186 — (5) 8,181 — 3,008 5,173 US government securities 86,783 4 — 86,787 — 86,787 — Total investments $ 580,918 $ 26 $ (274) $ 580,671 $ 78,987 $ 319,055 $ 182,629 Non-marketable equity securities are investments in privately held companies without readily determinable fair values. The carrying value of the Company’s investments without readily determinable fair values was $55.6 million as of March 31, 2022 and December 31, 2021, and was classified within “Investments in non-marketable equity securities” in the condensed consolidated balance sheets. The Company did not record any adjustments to the carrying value of its non-marketable equity securities accounted for under the measurement alternative, and did not recognize any gains or losses related to the sale of non-marketable equity securities in the three months ended March 31, 2022. Unrealized Losses on Marketable Securities The Company did not have any marketable securities with unrealized losses for more than 12 months. Unrealized losses from fixed-income securities are primarily attributable to changes in interest rates. Marketable Securities Maturities Adjusted Estimated Cost Basis Fair Value March 31, 2022 Due in one year or less $ 370,511 $ 369,566 Due after one year through five years 171,074 169,725 Due after five years through ten years — — Total $ 541,585 $ 539,291

Long-Term Debt

Long-Term Debt	3 Months Ended
Long-Term Debt	Mar. 31, 2022
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt Components of long-term debt were as follows as of March 31, 2022 and December 31, 2021: March 31, December 31, 2022 2021 2021 Senior Secured Notes $ 300,000 $ 300,000 Unamortized discount and issuance costs (20,287) (21,111) Net carrying amount $ 279,713 $ 278,889 Current portion of long-term debt $ — $ — Non-current portion of long-term debt $ 279,713 $ 278,889 2021 Senior Secured Notes In December 2021, the Company entered into a $300 million 10.25% secured notes in a private placement to certain institutional buyers. The interest is payable semiannually on June 15 and December 15 of each year, beginning on June 15, 2022. The effective interest rate on the notes is 12.14%. The notes will mature on December 15, 2026 unless repurchased or redeemed earlier. The secured notes contain customary covenants restricting the Company’s ability to incur debt, incur liens, make distributions to stockholders, make certain transactions with our affiliates, as well as certain other financial covenants. The Company was in compliance with all covenants as of March 31, 2022. In accounting for the senior secured notes, unamortized discount and issuance costs were deducted from the carrying value in the condensed consolidated balance sheet. Issuance costs will be recognized as interest expense over the five-year term of the senior secured notes. The senior secured notes are classified as Level 2 financial instruments, and its fair value is presented for disclosure purposes only. The Company determined the fair value of the notes is $261 million as of March 31, 2022 based on secondary market quotes. Interest is paid semi-annually. Accrued interest as of March 31, 2022 was $8.8 million, and was recorded within other current liabilities in the Company’s condensed consolidated balance sheets. No cash has been paid for interest as of March 31, 2022. The following table outlines maturities of the principle related to the Company’s long-term debt, including the current portion, as of March 31, 2022: Amount 2022 (excluding the three months ended March 31, 2022) $ — 2023 — 2024 — 2025 — 2026 300,000 Total $ 300,000

Leases

Leases	3 Months Ended
Leases	Mar. 31, 2022
Leases [Abstract]
Leases	Leases The Company is a party to various non-cancelable operating lease agreements for certain of its offices. The Company is a party to various non-cancelable finance lease agreements for certain network equipment. The leases have original lease periods expiring between 2022 to 2030. Some leases include one or more options to renew. The Company does not assume renewals in its determination of the lease term unless the renewals are deemed to be reasonably assured at lease commencement. The lease agreements generally do not contain any material residual value guarantees or material restrictive covenants. The Company adopted Accounting Standards Update 2016-02, Leases (“ASC 842”), which supersedes the guidance in Accounting Standards Codification (“ASC”) 840, Leases (“ASC 840”), effective January 1. 2021. As the Company elected the extended transition period for complying with new or revised accounting standards pursuant to Section 107(b) of the Jumpstart Our Business Startups Act of 2012, ASU 842 was not adopted until the fourth quarter of 2021. The comparative information for the three months ended March 31, 2021 have been adjusted to reflect impact of the adoption of ASC 842 as of January 1, 2021. The adoption did not impact the Company’s prior year consolidated statements of operations and comprehensive loss and statements of stockholders’ equity for the three-month period ended March 31, 2021. There was no impact on the Company’s prior year total cash used in operating activities in the Company’s condensed consolidated statement of cash flows; however, the Company has adjusted the operating lease right-of-use assets ($13.5 million decrease), operating lease liabilities ($14.4 million increase) and other accruals and liabilities ($0.9 million decrease) line items within changes in operating assets and liabilities in our condensed consolidated statement of cash flows for the three months ended March 31, 2021 included herein. As of March 31, 2022, the Company does not have additional operating and finance leases not yet commenced.
Leases	Leases The Company is a party to various non-cancelable operating lease agreements for certain of its offices. The Company is a party to various non-cancelable finance lease agreements for certain network equipment. The leases have original lease periods expiring between 2022 to 2030. Some leases include one or more options to renew. The Company does not assume renewals in its determination of the lease term unless the renewals are deemed to be reasonably assured at lease commencement. The lease agreements generally do not contain any material residual value guarantees or material restrictive covenants. The Company adopted Accounting Standards Update 2016-02, Leases (“ASC 842”), which supersedes the guidance in Accounting Standards Codification (“ASC”) 840, Leases (“ASC 840”), effective January 1. 2021. As the Company elected the extended transition period for complying with new or revised accounting standards pursuant to Section 107(b) of the Jumpstart Our Business Startups Act of 2012, ASU 842 was not adopted until the fourth quarter of 2021. The comparative information for the three months ended March 31, 2021 have been adjusted to reflect impact of the adoption of ASC 842 as of January 1, 2021. The adoption did not impact the Company’s prior year consolidated statements of operations and comprehensive loss and statements of stockholders’ equity for the three-month period ended March 31, 2021. There was no impact on the Company’s prior year total cash used in operating activities in the Company’s condensed consolidated statement of cash flows; however, the Company has adjusted the operating lease right-of-use assets ($13.5 million decrease), operating lease liabilities ($14.4 million increase) and other accruals and liabilities ($0.9 million decrease) line items within changes in operating assets and liabilities in our condensed consolidated statement of cash flows for the three months ended March 31, 2021 included herein. As of March 31, 2022, the Company does not have additional operating and finance leases not yet commenced.

Commitment and Contingencies

Commitment and Contingencies	3 Months Ended
Commitment and Contingencies	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal Matters The Company is a party to certain claims, suits, and proceedings which arise in the ordinary course and conduct of its business and has certain unresolved claims pending, the outcomes of which are not determinable at this time. The Company records a liability when it believes that it is probable that a loss will be incurred and the amount can be reasonably estimated. If the Company determines that a loss is reasonably possible and the loss or range of loss can be reasonably estimated, the Company discloses the possible loss or range of loss. In the Company’s opinion, resolution of pending matters, other than as disclosed herein, is not expected to have a material adverse impact on the results of operations, cash flows, or the Company’s financial position, as of March 31, 2022. Given the unpredictable nature of legal proceedings, there is a reasonable possibility that an unfavorable resolution of one or more such proceedings could in the future materially affect the results of operations, cash flows, or financial position in a particular period. However, based on the information known by the Company, except as set forth herein, any such amount is either immaterial or it is not possible to provide an estimated range of any such possible loss. On May 15, 2019, a former employee of the Company filed a suit against the Company in the San Francisco Superior Court in California for claims including breach of contract, retaliation and wrongful termination. The case was tried in August and September 2021. The jury found in favor of the former employee and rendered a verdict against the Company for $11.6 million in compensatory damages, and the Company recorded a loss contingency accrual and corresponding general and administrative expenses in such amount in the third quarter of 2021. In April 2022, the judge in the case determined, in light of the Company’s post-verdict motions, that the instructions given to the jury at trial were defective. Accordingly, the judge ordered a new trial on damages or, alternatively, permitted the plaintiff accept a reduced verdict in the amount of $4.35 million. The plaintiff has until May 25, 2022 to decide whether to accept the reduced verdict, proceed with a new trial on damages, or pursue an appeal.

Common Stock Warrants

Common Stock Warrants	3 Months Ended
Common Stock Warrants	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Common Stock Warrants	Common Stock Warrants As of March 31, 2022, the Company had zero Public Warrants and 4,535,728 Private Warrants outstanding. During the three months ended March 31, 2022, there were no Private Warrants exercised. As part of FEAC’s initial public offering, 17,250,000 Public Warrants were sold. The Public Warrants entitled the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share, subject to adjustments. The Public Warrants were only exercisable for a whole number of shares of Class A common stock. No fractional shares were issued upon exercise of the warrants. The Public Warrants had an expiration date of 5:00 p.m. New York City time on December 16, 2025, or earlier upon redemption or liquidation. The Public Warrants were listed on the NYSE under the symbol “SKLZ.WS.” The Company was permitted to call the Public Warrants for redemption starting anytime, in whole and not in part, at a price of $0.01 per warrant, so long as the Company provides not less than 30 days’ prior written notice of redemption to each warrant holder, and if, and only if, the reported last sale price of Class A common stock equaled or exceeded $18.00 per share for any 20 trading days within a 30-trading day period ending on the third trading day prior to the date the Company sent the notice of redemption to the warrant holders, provided there was an effective registration statement covering the shares of Class A common stock issuable upon exercise of the warrants at such time. On July 16, 2021, the Company announced the redemption of all Public Warrants that remained outstanding on August 16, 2021. On August 16, 2021, 5,888,294 Public Warrants remained unexercised at 5pm New York City time, and such warrants expired and were no longer exercisable, and the holders of those Public Warrants were entitled to receive only the redemption price of $0.01 per warrant. Simultaneously with FEAC’s initial public offering, FEAC consummated a private placement of 10,033,333 Private Placement Warrants with FEAC’s sponsor. In connection with the FEAC Business Combination, FEAC’s sponsor agreed to forfeit 5,016,666 private placement warrants. Each outstanding Private Placement Warrant is exercisable for one share of Class A common stock at a price of $11.50 per share, subject to adjustment.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
Stockholders' Equity	Mar. 31, 2022
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity Common Stock The Company’s amended and restated certificate of incorporation authorizes the issuance of Class A common stock and Class B common stock. The rights of the holders of Class A common stock and Class B common stock are identical, expect with respect to voting and conversion. Holders of Class A common stock are entitled to one vote per share and holders of Class B common stock are entitled to 20 votes per share. Shares of Class B common stock are convertible into an equivalent number of shares of Class A common stock and generally convert into shares of Class A common stock upon transfer. Any dividends paid to the holders of Class A common stock and Class B common stock will be paid on a pro rata basis. On a liquidation event, any distribution to common stockholders is made on a pro rata basis to the holders of the Class A common stock and Class B common stock. As of March 31, 2022, the Company has authorized a total of 635 million shares, consisting of 500 million shares of Class A common stock, par value $0.0001 per share (“Class A common stock”), 125 million shares of Class B common stock, par value $0.0001 per share (“Class B common stock”), and 10 million shares of preferred stock, par value $0.0001 per share (“preferred stock”). In March 2021, the Company completed an underwritten public offering of its Class A common stock and issued 17,000,000 shares of Class A common stock, for an aggregate purchase price of $408.0 million, before issuance costs of $5.9

Stock Based Compensation

Stock Based Compensation	3 Months Ended
Stock Based Compensation	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
Stock Based Compensation	Stock-Based Compensation The following table summarizes stock-based compensation expense recognized for the three months ended March 31, 2022 and 2021 as follows: Three Months Ended March 31, 2022 2021 Research and development $ 2,354 $ 1,207 Sales and marketing 2,879 1,838 General and administrative 72,692 7,900 Total stock-based compensation expense $ 77,925 $ 10,945 Equity Incentive Plans Skillz Inc. 2020 Omnibus Incentive Plan In December 2020, the Board of Directors of the Company adopted the Skillz Inc. 2020 Omnibus Incentive Plan (the “2020 Plan”). The 2020 Plan became effective upon consummation of the FEAC Business Combination and succeeds the Company’s legacy equity incentive plans. Under the 2020 Plan, the Company may grant stock-based awards to purchase or directly issue shares of common stock to employees, directors and consultants. Options are granted at a price per share equal to the fair market value of the underlying common stock at the date of grant. Options granted are exercisable over a maximum term of 10 years from the date of grant. Restricted stock units (“RSUs”) are also granted under the 2020 Plan. These awards typically have a cliff vesting period of one year and continue to vest quarterly thereafter. The 2020 Plan also permits the Company to grant stock-based awards with performance or market conditions. In connection with the closing of the FEAC Business Combination, the Company entered into certain option agreements that include vesting conditions contingent upon the attainment of volume weighted average price targets related to the Company’s Class A common stock on the NYSE. The 2020 Plan permits the Company to deliver up to 86,771,777 shares of common stock pursuant to awards issued under the 2020 Plan, consisting of 15,000,000 shares which may be of Class A and/or Class B common stock, 56,264,600 shares of Class A common stock and 15,507,177 shares of Class B common stock. The total number of shares of Class A common stock and Class B common stock that will be reserved and that may be issued under the 2020 Plan will automatically increase on the first trading day of each calendar year, beginning with calendar year 2021, by a number of shares equal to five percent 5% of the total number of shares of Class A common stock and Class B common stock, respectively, outstanding on the last day of the prior calendar year. Stock Options and Restricted Stock Units Stock option and RSU activity during the three months ended March 31, 2022 is as follows (in thousands, except for share, per share, and contractual term data): Options Outstanding Restricted Stock Units Number of Number of Weighted- Weighted- Aggregate Number of Plan shares outstanding Weighted-Average Grant Date Fair Value per share Balance at December 31, 2021 51,437,898 27,727,088 $ 7.79 7.04 $ 113,110 7,600,097 $ 13.17 Additional shares authorized 20,437,691 — — Options and restricted stock units granted (6,062,088) — — 6,062,088 2.86 Options exercised and restricted stock units released — (774,983) 0.30 (104,953) 18.65 Options and restricted stock units canceled 868,193 (198,648) 1.26 (669,545) 11.94 Balance at March 31, 2022 66,681,694 26,753,457 $ 8.06 6.88 $ 40,977 12,887,687 $ 8.34 Exercisable at December 31, 2021 13,157,036 $ 0.15 5.17 $ 95,946 Exercisable at March 31, 2022 12,842,842 0.16 5.09 36,610 Unvested at December 31, 2021 14,570,052 14.69 8.72 17,164 Unvested at March 31, 2022 13,910,615 15.36 8.53 4,367 The number of unvested stock options as of March 31, 2022 and December 31, 2021 does not include 7.2 million and 8.2 million shares of restricted common stock, respectively, previously issued upon the early exercise of grants by certain executives. The number of RSUs granted and outstanding does not include 2.0 million performance based RSUs which the Company issued as of March 31, 2022, as the performance-based RSUs are not deemed granted for accounting purposes. The stock option and RSU activity presented in the table above does not include activity related to the 2021 CEO Performance Award and Founders' Option Agreements, both described below. As of March 31, 2022, unrecognized stock-based compensation expense related to unvested stock options, restricted common stock, RSUs, performance-based RSUs and performance stock units was $177.3 million. The weighted-average period over which such compensation expense will be recognized is 3.24 years. The aggregate intrinsic value of options exercised was $2.6 million and $7.9 million during the three months ended March 31, 2022 and 2021, respectively. 2021 CEO Performance Award In September 2021, the Company granted the Company’s Chief Executive Officer (“CEO”), an award of up to 16.1 million performance stock units (the “CEO Performance Award”) under the Company’s 2020 Plan, pursuant to which the CEO may earn one share of the Company’s Class A Common Stock for each performance stock unit that vests based on the achievement of certain Market Capitalization Milestones (as defined in the award agreement for the CEO Performance Award). The performance stock units were divided into four tranches, with each tranche corresponding to a Market Capitalization Milestone ranging from two to five times the Company’s market capitalization baseline. Each tranche vested if and when the Company’s market capitalization equals or exceeds the corresponding Market Capitalization Milestone at any point during the seven-year performance period following the grant date (the “Performance Period”). For purposes of determining achievement of the Market Capitalization Milestones, the Company’s market capitalization was calculated based on the trailing 60-trading day volume weighted average price per share (“VWAP”) of the Company’s Class A common stock and the average number of outstanding shares during such period. The Company’s market capitalization baseline was calculated using the trailing 30-trading day VWAP of the Company’s Class A common stock on the grant date and the average number of outstanding shares during such period. The $70.8 million grant date fair value of the CEO Performance Award was estimated using a model based on multiple stock price paths developed through the use of a Monte Carlo simulation that incorporates into the valuation the possibility that the market condition targets may not be satisfied. On March 14, 2022 (“cancellation date”), the Board of Directors of Skillz and the CEO, entered into an agreement to cancel this CEO Performance Award. The Company determined that the cancellation of the CEO Performance Award was a settlement for no consideration and not accompanied by a concurrent grant (or offer to grant) of a replacement award. As a result, the Company recorded the remaining unrecognized compensation costs related to the CEO Performance Award of $65.1 million during three months ended March 31, 2022. ` Founders’ Option Agreements In December 2020, the Company entered into option agreements with each of the CEO and CRO (the “Option Agreements”) awarding options to purchase (i) 9,960,000 shares of New Skillz Class B common stock to the CEO and (ii) 2,040,000 shares of Class A common stock to the CRO. The options will vest in three equal increments as follows (i) one-third (1/3) of the options shall vest and become exercisable as of the date, following the grant date, that the volume weighted average price on the NYSE over a ten (10) trading day period of underlying Skillz Class A common stock (“VWAP”) equals or exceeds 3.0x the VWAP of the shares as of the Closing Date (as defined in the Options Agreements), (ii) one-third (1/3) of the options shall vest and become exercisable as of the date, following the grant date, that the VWAP of the shares equals or exceeds 4.0x the VWAP of the shares as of the Closing Date; and (iii) one-third (1/3) of the options shall vest and become exercisable as of the date, following the grant date, that the VWAP of the shares equals or exceeds 5.0x the VWAP of the shares as of the Closing Date. The $93.4 million grant date fair value of the Founders’ Options was estimated using a model based on multiple stock price paths developed through the use of a Monte Carlo simulation that incorporates into the valuation the possibility that the market condition targets may not be satisfied. The significant inputs to the valuation included the Company’s Class A stock price and the risk-free interest rate as of the grant date, as well as the estimated volatility of the Company’s Class A common stock. For the three months ended March 31, 2022, the Company recognized $4.8 million in compensation expense related to these grants. As of March 31, 2022, the unrecognized stock-based compensation cost related to Founders’ Option Agreements was $68.4 million.

Income Taxes

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income TaxesThe Company’s (benefit from) provision for income taxes was $(213) thousand and $42 thousand for the three months ended March 31, 2022 and 2021, respectively. This represents an effective tax rate for the respective periods of 0.14% and (0.08)%. The Company has historically been in an overall loss position and is only subject to state and foreign taxes. The Company maintains a full valuation allowance for all of its deferred tax assets. The effective tax rate differs from the federal statutory rate due to the valuation allowance, as well as due to foreign taxes and state taxes

Related Party Transactions

Related Party Transactions	3 Months Ended
Related Party Transactions	Mar. 31, 2022
Related Party Transactions [Abstract]
Related Party Transactions	Related-Party TransactionsThe Company did not have any material related party transactions in the three months ended March 31, 2022 and 2021

Net Loss Per Share

Net Loss Per Share	3 Months Ended
Net Loss Per Share	Mar. 31, 2022
Earnings Per Share [Abstract]
Net Loss Per Share	Net Loss Per Share The Company computes net loss per share of the Class A common stock and Class B common stock using the two-class method required for participating securities. Basic and diluted loss per share are the same for each class of common stock because they are entitled to the same liquidation and dividend rights. The effect of potentially dilutive common shares is reflected in diluted earnings per share by application of the treasury stock method. The following table sets forth the computation of basic and diluted loss per Class A common stock and Class B common stock (in thousands, except for share and per share data): Three Months Ended March 31, 2022 2021 Numerator: Net loss – basic $ (148,113) $ (53,592) Denominator: Weighted average common shares outstanding – basic 401,653,954 356,818,954 Net income (loss) per share attributable to common stockholders – basic $ (0.37) $ (0.15) Numerator: Net loss – basic $ (148,113) $ (53,592) Decrease in fair value of public and private common stock warrant liabilities — (3,799) Net loss – diluted $ (148,113) $ (57,391) Denominator: Weighted average common shares outstanding – basic 401,653,954 356,818,954 Incremental common shares from assumed exercise of public and private common stock warrants — 3,008,695 Weighted average common shares outstanding – diluted 401,653,954 359,827,649 Net loss per share attributable to common stockholders – diluted $ (0.37) $ (0.16) The following outstanding common stock equivalents were considered antidilutive, and therefore, excluded from the computation of diluted net income (loss) per share attributable to common stockholders for the periods presented (share numbers are not in thousands). As of March 31 2022 2021 Common stock warrants 4,535,728 8,157,942 Common stock options 33,999,568 51,121,618 Restricted stock units 6,062,088 1,521,335 Total 44,597,384 60,800,895

Geographical Information

Geographical Information	3 Months Ended
Geographical Information	Mar. 31, 2022
Segment Reporting [Abstract]
Geographical Information	Geographical Information No sales to a country other than the United States accounted for more than 10% of revenue for the three months ended March 31, 2022 or 2021. Revenue, classified by the major geographic areas where the end users were located when they entered paid competitions, was as follows: Three Months Ended March 31, 2022 2021 United States 69,177 72,382 Other countries 24,261 11,295 Total $ 93,438 $ 83,677 Property and equipment, net and operating lease right-of-use assets by geography is as follows: March 31, December 31, 2022 2021 United States $ 18,940 $ 20,997 Other countries 3,666 3,502 Total $ 22,606 $ 24,499

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
Summary of Significant Accounting Policies (Policies)	Mar. 31, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The Company’s condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) as determined by the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) and pursuant to the regulations of the U.S. Securities and Exchange Commission (“SEC”). Unaudited Interim Financial Statements The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. GAAP for interim financial information and in accordance with the rules and regulations of the SEC. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The unaudited condensed consolidated financial statements reflect all normal and recurring adjustments that are, in the opinion of the Company’s management, necessary for the fair presentation of the results of operations for the interim periods. Operating results for the three months ended March 31, 2022 are not necessarily indicative of the results that may be expected for the year ending December 31, 2022. These unaudited interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021, as filed with the SEC on March 1, 2022.
Use of Estimates	Use of Estimates The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make certain estimates, judgments, and assumptions that affect the reported amounts of assets and liabilities and the related disclosures at the date of the condensed consolidated financial statements, as well as the reported amounts of revenues and expenses during the periods presented. Estimates are used in several areas including, but not limited to, stock-based compensation, valuation of common stock warrants, the fair values of goodwill and intangible assets and the useful lives of the Company’s intangible assets. The Company bases these estimates on historical experience and on various other assumptions that it believes are reasonable under the circumstances, the results of which form the basis for making judgments about the carrying amounts of assets and liabilities. Actual results could differ materially from these estimates.
Revenue Recognition	Revenue Recognition The Company generates substantially all its revenues by providing a service to the game developers aimed at improving the monetization of their game content. The monetization service provided by Skillz allows developers to offer multi-player competition to their end-users which increases end-user retention and engagement. Skillz provides developers with a software development kit (“SDK”) that they can download and integrate with their existing games. The SDK serves as a data interface between Skillz and the game developers that enables Skillz to provide monetization services to the developer. The Company recognizes revenue for its services in accordance with the FASB Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers (“ASC 606”). Revenues from Contracts with Customers The Company applies the five-step model to achieve the core principle of ASC 606. The Company determined that its customer in the provision of its technology platform and services is the game developer. The Company’s ordinary activities consist of providing game developers services through access to its technology platform using the Skillz SDK. The SDK acts as an application programming interface enabling communication of data between Skillz and the game developers, which when integrated with the developer’s game content, facilitates end-user registration into Competitions, managing and hosting end-user Competition accounts, matching players of similar skill levels, collecting end-user entry fees, distributing end-user prizes, resolving end-user disputes pertaining to their participation in Competitions, and running third-party marketing campaigns (“Monetization Services”). The Company provides Monetization Services to game developers enabling them to offer competitive games to their end-users. These activities are not distinct from each other as the Company provides an integrated service enabling the game developers to provide the competitive game service to the end-users, and as a result, they do not represent separate performance obligations. The Company is entitled to a revenue share based on total entry fees for paid Competitions, regardless of how they are paid, net of end-user prizes (i.e., winnings from the Competitions) and other costs to provide the Monetization Services. The game developers’ revenue share, however, is calculated solely based upon entry fees paid by net cash deposits received from end-users. End-user incentives are not paid for by game developers. In addition, the Company reduces revenue for end-user incentives which are treated as a reduction of revenue. The Company collects the entry fees and related charges from end-users on behalf of game developers using the end-user’s pre-authorized credit card or PayPal account and withholds its fees before making the remaining disbursement to the game developer; thus, the game developer’s ability and intent to pay is not subject to significant judgment. Revenue is recognized at the time the performance obligation is satisfied by transferring control of the promised service in an amount that reflects the consideration that the Company expects to receive in exchange for the Monetization Services. The Company recognizes revenue upon completion of a game, which is when its performance obligation to the game developer is satisfied. The Company does not have contract assets or contract liabilities as the payment of the transaction price is concurrent with the fulfillment of the services. At the time of game completion, the Company has the right to receive payment for the services rendered. The Company’s agreements with game developers can generally be terminated for convenience by either party upon thirty days prior written notice, and in certain of the Company’s larger developer agreements, the developer, if required by the Company, must continue to make its games available on the platform for a period of up to twelve months. As the Company is able to terminate the developer agreements at its convenience, the Company has concluded the contract term for revenue recognition does not extend beyond the contractual notification period. The Company did not have any transaction price allocated to performance obligations that are unsatisfied (or partially satisfied) as of March 31, 2022 and 2021. Games provided by two developer partners, accounted for 41% and 38% of the Company’s revenue in the three months ended March 31, 2022, and 42% and 41% of the Company’s revenue in the three months ended March 31, 2021. End-User Incentive Programs To drive traffic to the platform, the Company provides promotions and incentives to end-users in various forms. Evaluating whether a promotion or incentive is a payment to a customer may require significant judgment. Promotions and incentives which are consideration payable to a customer are recognized as a reduction of revenue at the later of when revenue is recognized or when the Company pays or promises to pay the incentive. Promotions and incentives recorded as sales and marketing expense are recognized when the related cost is incurred by the Company. In either case, the promotions and incentives are recognized when they are used by end-users to enter into a paid Competition. • Marketing promotions and discounts accounted for as a reduction of revenue. These promotions are typically pricing actions in the form of discounts that reduce the end-user entry fees and are offered on behalf of the game developers. Although not required based on the Company’s agreement with its developers, the Company considers that the game developers have a valid expectation that certain incentives will be offered to end-users. The determination of a valid expectation is based on the evaluation of all information reasonably available to the game developers regarding the Company’s customary business practices, published policies and specific statements. An example of an incentive for which the game developer has a valid expectation is Ticketz, which are a virtual currency earned for every Competition played based on the amount of the entry fee (“Ticketz”). Ticketz can be redeemed for prizes, including bonus cash prizes, a promotional incentive that cannot be withdrawn and can only be used by end-users to enter into paid entry fee contests (“Bonus Cash”). Another example is initial deposit Bonus Cash which is a promotional incentive that can be earned in fixed amounts when an end-user makes an initial deposit on the Skillz platform. Bonus Cash can only be used by end-users to enter into future paid entry fee Competitions and cannot be withdrawn by end-users. For the three months ended March 31, 2022 and 2021, the Company recognized a reduction of revenue of $16.3 million and $17.6 million, respectively, related to these end-user incentives. • Marketing promotions accounted for as sales and marketing expense. When the Company concludes that the game developers do not have a valid expectation that the incentive will be offered, the Company records the related cost as sales and marketing expense. The Company’s assessment is based on an evaluation of all information reasonably available to the game developers regarding the Company’s customary business practices, published policies and specific statements. These promotions are offered to end-users to draw, re-engage, or generally increase end-users’ use of the Company’s platform. An example of this type of incentive is limited-time Bonus Cash offers, which are targeted to specific end-users, typically those who deposit more frequently or have not made a deposit recently, via email or in-app promotions. The Company targets groups of end-users differently, offering specific promotions it thinks will best stimulate engagement. Similar to Bonus Cash earned from a redemption of Ticketz or an initial deposit, limited-time Bonus Cash can only be used by end-users to enter into future paid entry fee competitions and cannot be withdrawn by end-users. The Company also hosts engagement marketing leagues run over a period of days or weeks, which award league prizes in the form of cash or luxury goods to end-users with the most medals at the end of the league. End-users accumulate medals by winning Skillz enabled paid entry fee competitions. Skillz determines whether or not to run a league, what prizes should be awarded, over what time period the league should run, and to which end-users the prizes should be paid, all at its discretion. The league parameters vary from one league to the next and are not reasonably known to the game developers. League prizes in the form of cash can be withdrawn or used by end-users to enter into future paid entry fee competitions. For the three months ended March 31, 2022 and 2021, the Company recognized sales and marketing expense of $37.0 million and $33.3 million, respectively, related to these end-user incentives. From time to time, the Company issues credits or refunds to end-users that are unsatisfied by the level of service provided by the game developer. There is no contractual obligation for the Company to refund such end-users nor is there a valid expectation by the game developers for the Company to issue such credits or refunds to end-users on their behalf. The Company accounts for credits or refunds, which are not recoverable from the game developer, as sales and marketing expenses when incurred.
Cash, Cash Equivalents and Restricted Cash	Cash, Cash Equivalents and Restricted Cash Cash and cash equivalents consist of cash, commercial paper, money market funds and U.S government agency securities with maturities of three months or less when purchased.
Concentrations of Credit Risk	Concentrations of Credit RiskFinancial instruments that potentially subject the Company to significant concentrations of credit risk consist of cash, cash equivalents, restricted cash, and marketable securities. Although the Company deposits its cash with multiple well-established financial institutions, the deposits, at times, may exceed federally insured limits. The Company has not experienced any losses on its deposits of cash and cash equivalents. Marketable securities are primarily consisted of U.S government, corporate debt securities, asset backed securities, commercial paper, and debt instruments issued by foreign governments. The Company limits the amount of credit exposure to any one issuer. Management believes that the institutions are financially stable and, accordingly, minimal credit risk exists.
Accounts Receivable, Net	Accounts Receivable, NetAccounts receivable, net, is comprised of trade accounts receivable recorded at the invoiced amounts for programmatic media campaigns, net of an allowance for credit losses. The allowance for credit losses is recorded as an offset to accounts receivable and changes in such are classified as general and administrative expense in the consolidated statements of operations and comprehensive loss. The Company assesses collectability by reviewing accounts receivable on a collective basis where similar characteristics exist and on an individual basis when there are specific customers with known disputes or collectability issues. In determining the amount of the allowance for credit losses, the Company considers historical collectability based on past due status and makes judgments about the creditworthiness of customers based on ongoing credit evaluations. The Company also considers customer-specific information, current market conditions and reasonable and supportable forecasts of future economic conditions to inform adjustments to historical loss data.
Fair Value Measurement	Fair Value Measurement The Company applies fair value accounting for financial assets and liabilities and non-financial assets and liabilities that are recognized or disclosed at fair value in the condensed consolidated financial statements on a recurring basis. The Company defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining fair value measurements for assets and liabilities, the Company considers the principal or most advantageous market in which it would transact and the market-based risk measurements or assumptions that market participants would use in pricing the asset or liability, such as risks inherent in valuation techniques, transfer restrictions and credit risk. Fair value is estimated by applying the following hierarchy, which prioritizes the inputs used to measure fair value into three levels and bases the categorization within the hierarchy upon the lowest level of input that is available and significant to the fair value measurement: • Level 1 — Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. • Level 2 — Inputs reflect quoted prices for identical assets or liabilities in markets that are not active; quoted prices for similar assets or liabilities in active markets; inputs other than quoted prices that are observable for the assets or liabilities; or inputs that are derived principally from or corroborated by observable market data by correlation or other means. • Level 3 — Unobservable inputs reflecting management’s estimate of assumptions incorporated in valuation techniques used to determine fair value. These assumptions are required to be consistent with market participant assumptions that are reasonably available. The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Assets and liabilities measured at fair value are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Certain financial instruments, including debt, are not measured at fair value on a recurring basis in the consolidated balance sheets. The fair value of debt was estimated using primarily level 2 inputs including quoted market prices or present value of future payments discounted by the market interest rates or the fixed rates based on current rates offered to the Company for debt with similar terms and maturities.
Investments	Investments The Company considers all highly liquid interest-earning investments with a maturity of three months or less at the date of purchase to be cash equivalents. The fair values of these investments approximate their carrying values. In general, investments with original maturities of greater than three months and remaining maturities of less than one year are classified as short-term investments. Investments with maturities beyond one year are classified as non-current marketable securities. Marketable securities are classified as available-for-sale and realized gains and losses are recorded using the specific identification method. Changes in fair value, excluding credit losses and impairments, are recorded in other comprehensive loss. Fair value is calculated based on publicly available market information or other estimates determined by management. If the cost of an investment exceeds its fair value, the Company evaluates, among other factors, general market conditions, credit quality of debt instrument issuers, and the extent to which the fair value is less than cost. To determine credit losses, the Company employs a systematic methodology that considers available quantitative and qualitative evidence. In addition, the Company considers specific adverse conditions related to the financial health of, and business outlook for, the investee. If the Company plans to sell the security or it is more likely than not that the Company will be required to sell the security before recovery, then a decline in fair value below cost is recorded as an impairment charge in other (expense) income, net and a new cost basis in the investment is established. If market, industry, and/or investee conditions deteriorate, the Company may incur future impairments. The Company has elected to measure its existing investments in non-marketable equity securities at cost, less impairments, with remeasurements to fair value only upon the occurrence of observable price changes in orderly transactions for the identical or similar securities of the same issuer (“measurement alternative”). This election is reassessed each reporting period to determine whether non-marketable equity securities have a readily determinable fair value, in which case they would no longer be eligible for this election and would be measured at fair value. The Company evaluates its non-marketable equity securities for impairment at each reporting period based on a qualitative assessment that considers various potential impairment indicators. Impairment indicators might include, but would not necessarily be limited to, a significant deterioration in the earnings performance, credit rating, asset quality, or business prospects of the investee, a significant adverse change in the regulatory, economic, or technological environment of the investee, a bona fide offer to purchase, an offer by the investee to sell, or a completed auction process for the same or similar securities for an amount less than the carrying amount of the investments in those securities. If an impairment exists, a loss is recognized in the condensed consolidated statements of operations and comprehensive loss for the amount by which the carrying value exceeds the fair value of the investment. Gains and losses resulting from the remeasurement of non-marketable equity securities, including impairment, are recorded through other (expense) income, net in the condensed consolidated statement of operations and comprehensive loss. The Company separately presents investments in non-marketable equity securities within long-term assets on the condensed consolidated balance sheets.
Advertising and Promotional Expense	Advertising and Promotional ExpenseAdvertising and promotional expenses are included in sales and marketing expenses within the condensed consolidated statements of operations and comprehensive loss and are expensed when incurred. For the three months ended March 31, 2022 and 2021, advertising expenses, not including marketing promotions related to the Company’s end-user incentive programs, were
Public and Private Common Stock Warrant Liabilities	Public and Private Common Stock Warrant Liabilities As part of the Company’s initial public offering, it issued to third party investors 69.0 million units, consisting of one share of Class A common stock and one-fourth of one warrant, at a price of $10.00 per unit. Each whole warrant entitled the holder to purchase one share of Class A common stock at an exercise price of $11.50 per share (the “Public Warrants”). Simultaneously, the Company completed the private sale of 10,033,333 warrants at a purchase price of $1.50 per warrant (the “Private Warrants”) of which 5,016,666 Private Warrants were subsequently forfeited. Each Private Warrant allows the holder to purchase one share of Class A common stock at $11.50 per share. There were zero Public Warrants and 4,535,728 Private Warrants outstanding as of March 31, 2022. The Private Warrants and the shares of common stock issuable upon the exercise of the Private Warrants are not transferable, assignable or salable, subject to certain limited exceptions. Additionally, the Private Warrants are exercisable for cash or on a cashless basis, and are non-redeemable so long as they are held by the initial purchasers or their permitted transferees. If the Private Warrants are held by someone other than the initial purchasers or their permitted transferees, the Private Warrants will be redeemable by the Company and exercisable by such holders on the same basis as the Public Warrants. The Company evaluated the Public and Private Warrants under ASC 815-40, Derivatives and Hedging—Contracts in Entity’s Own Equity , (“ASC 815-40”), and concluded that they do not meet the criteria to be classified in stockholders’ equity. Specifically, the exercise of the Public and Private Warrants may be settled in cash upon the occurrence of a tender offer or exchange that involves 50% or more of the Company’s Class A stockholders. As there are two classes of common stock, not all of the stockholders need to participate in such tender offer or exchange to trigger the potential cash settlement and the Company does not control the occurrence of such an event, the Company concluded that the Public Warrants and Private Warrants do not meet the conditions to be classified in equity. Since the Public and Private Common Stock Warrants meet the definition of a derivative under ASC 815, the Company recorded these warrants as liabilities on the balance sheet at fair value, with subsequent changes in their respective fair values recognized in the condensed consolidated statement of operations and comprehensive loss at each reporting date. Because the Public Warrants were publicly traded and thus had an observable market price in an active market, they were valued based on their trading price as of each reporting date. The Private Warrants are valued using the Black-Scholes-Merton Option (“BSM”) pricing model that is based on the individual characteristics of the warrants on the valuation date, which include the Company’s stock price and assumptions for expected volatility, expected life and risk-free interest rate, as well as the present value of the minimum cash payment component of the instrument for the warrants, when applicable. Changes in the assumptions used could have a material impact on the resulting fair value of each warrant. The primary inputs affecting the value of the warrant liability are the Company’s stock price and volatility in the Company's stock price, as well as assumptions about the probability and timing of certain events, such as a change in control or future equity offerings. Increases in the fair value of the underlying stock or increases in the volatility of the stock price generally result in a corresponding increase in the fair value of the warrant liability; conversely, decreases in the fair value of the underlying stock or decreases in the volatility of the stock price generally result in a corresponding decrease in the fair value of the warrant liability.
Stock-Based Compensation	Stock-Based Compensation The Company measures and recognizes compensation expense for all stock-based awards based on estimated grant-date fair values recognized over the requisite service period. For awards that vest solely based on a service condition, the Company recognizes stock-based compensation expense on a straight-line basis over the requisite service period. The compensation expense related to awards with performance conditions is recognized over the requisite service period when the performance conditions are probable of being achieved. The compensation expense related to awards with market conditions is recognized on an accelerated attribution basis over the requisite service period identified as the derived service period over which the market conditions are expected to be achieved, and is not reversed if the market condition is not satisfied. See Note 9 for more information. The Company accounts for forfeitures as they occur. If an employee stock-based award is canceled without the concurrent grant or offer of a replacement award, the cancellation should be treated as a settlement for no consideration and any previously unrecognized compensation cost shall be recognized at the cancellation date. Stock-based awards granted to employees are primarily stock options and restricted stock units. The Company has primarily granted restricted stock units (“RSUs”), which have a service based vesting condition over a four-yea For awards with market conditions, the Company determines the grant date fair value utilizing a Monte Carlo valuation model, which incorporates various assumptions including expected stock price volatility, expected term, risk-free interest rates, expected date of a qualifying event, expected capital raise percentage and market capitalization milestones. Given the Company’s limited market trading history, it has estimated the volatility of its common stock on the date of grant of awards with market conditions based on the weighted average historical stock price volatility of comparable publicly-traded companies in its industry group. The Company estimated the expected term of its awards with market conditions based on various exercise scenarios, as these awards are not considered “plain vanilla.” The Company utilized a risk-free interest rate based on the U.S. Treasury yield curve in effect at the time of grant. The Company estimated the expected date of a qualifying event, the expected capital raise percentage and the expected achievement date of market capitalization milestones based on management’s expectations at the time of measurement of the award’s value.
Segments	Segments Operating segments are defined as components of an entity for which separate financial information is available and that is regularly reviewed by the Chief Operating Decision Maker (“CODM”) in deciding how to allocate resources to an individual segment and in assessing performance. During the three months ended March 31, 2022, the Company continued to operate as a single operating and reportable segment as the CODM reviews financial information presented on a consolidated basis for the purposes of making operating decisions, allocation of resources, and evaluating financial performance.
Recently Issued Accounting Pronouncements Not Yet Adopted	Recently Issued Accounting Pronouncements Not Yet Adopted In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which requires entities to recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Topic 606, Revenue from Contracts with Customers, instead of fair value at the acquisition date in accordance with Topic 805. The amendments in ASU 2021-08 will result in the acquirer recording acquired contract assets and liabilities on the same basis that would have been recorded by the acquiree before the acquisition under ASC Topic 606. The amendments in ASU 2021-08 are effective for fiscal years beginning after December 15, 2022, with early adoption permitted. The Company is evaluating the effect of adopting this new accounting guidance.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	3 Months Ended
Summary of Significant Accounting Policies (Tables)	Mar. 31, 2022
Accounting Policies [Abstract]
Schedule of Cash, Cash Equivalents and Restricted Cash	A reconciliation of the Company’s cash and cash equivalents in the condensed consolidated balance sheets to cash, cash equivalents and restricted cash in the condensed consolidated statement of cash flows is as follows: March 31, December 31, 2022 2021 Cash and cash equivalents $ 114,558 $ 241,332 Restricted cash 2,920 2,920 Cash, cash equivalents and restricted cash $ 117,478 $ 244,252
Schedule of Cash, Cash Equivalents and Restricted Cash	A reconciliation of the Company’s cash and cash equivalents in the condensed consolidated balance sheets to cash, cash equivalents and restricted cash in the condensed consolidated statement of cash flows is as follows: March 31, December 31, 2022 2021 Cash and cash equivalents $ 114,558 $ 241,332 Restricted cash 2,920 2,920 Cash, cash equivalents and restricted cash $ 117,478 $ 244,252

Business Combination (Tables)

Business Combination (Tables)	3 Months Ended
Business Combination (Tables)	Mar. 31, 2022
Business Combinations [Abstract]
Schedule of Business Combination	The following table summarizes the fair value of the purchase price to acquire Aarki: Description Amount Cash $ 95,296 Common stock issued (1) 67,051 Total purchase price $ 162,347 _______________ (1) The fair value of the Skillz Class A Common Stock issued in the merger was based on 4,401,663 shares issued on the July 16, 2021 acquisition date at the closing price of the Company’s common stock on such date of $15.23 per share.
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following is an allocation of the purchase price as of July 16, 2021, the acquisition closing date, based on an estimate of the fair value of the assets acquired and liabilities assumed by the Company in the acquisition: Description Amount Cash and cash equivalents $ 11,309 Accounts receivable, net 13,700 Prepaid expenses and other current assets 356 Property, plant and equipment, net 5,075 Intangible assets, net 86,800 Other long-term assets 91 Accounts payable (445) Accrued professional fees (3,145) Other current liabilities (16,471) Deferred tax liabilities (20,075) Other long-term liabilities (1,693) Identifiable net assets acquired 75,502 Goodwill 86,845 Total purchase price $ 162,347
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination	The following is a summary of identifiable intangible assets acquired and their expected lives as of the acquisition closing date: Type Weighted-average useful life (in years) Fair Value Developed technology 8 $ 60,400 Customer relationships 3 26,200 Trademark and trade name 0.3 200 Total identifiable intangible assets acquired $ 86,800
Schedule of Goodwill	The following table presents details of changes to the Company’s goodwill balance for the three months ended March 31, 2022: Goodwill Balance at December 31, 2021 $ 86,845 Goodwill adjustment (409) Balance as of March 31, 2022 $ 86,436

Balance Sheet Components (Table

Balance Sheet Components (Tables)	3 Months Ended
Balance Sheet Components (Tables)	Mar. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Prepaid Expenses and Other Current Assets	Prepaid expenses and other current assets consisted of the following as of March 31, 2022 and December 31, 2021: March 31, December 31, 2022 2021 Credit card processing reserve $ 10,450 $ 9,527 Prepaid expenses 10,427 5,681 Other current assets 1,090 1,496 Prepaid expenses and other current assets $ 21,967 $ 16,704
Schedule of Finite-Lived Intangible Assets	The components of intangible assets consisted of the following as of March 31, 2022: Weighted Average Remaining Useful Life (in years) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Developed technology 7.33 $ 60,400 $ (5,348) $ 55,052 Customer relationships 2.33 26,200 (6,186) 20,014 Trademark and trade name 0.00 200 (200) — Intangible assets, net $ 86,800 $ (11,734) $ 75,066 The following table sets forth the activity related to finite-lived intangible assets: Three Months Ended March 31, 2022 Beginning balance at December 31, 2021 $ 79,137 Amortization (4,071) Ending balance at March 31, 2022 $ 75,066
Finite-lived Intangible Assets Amortization Expense	The following table summarizes amortization expense associated with finite-lived intangible assets recognized in the condensed consolidated statements of operations and comprehensive loss for the three months ended March 31, 2022 as follows: Three Months Ended March 31, 2022 Cost of revenue $ 1,888 Sales and marketing 2,183 General and administrative — Total amortization expense $ 4,071
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	The following table outlines the estimated future amortization expense related to finite intangible assets as of March 31, 2022: Amount 2022 $ 12,212 2023 16,283 2024 12,281 2025 7,550 2026 7,550 Thereafter 19,190 Total $ 75,066
Schedule of Other Current Liabilities	Other current liabilities consisted of the following as of March 31, 2022 and December 31, 2021: March 31, December 31, 2022 2021 Accrued sales and marketing expenses $ 13,425 $ 28,895 Accrued compensation 10,737 12,108 Accrued publisher fees 7,242 3,912 End-user liability, net 3,562 4,118 Accrued developer revenue share 1,147 1,655 Short-term lease obligations 2,043 2,447 Accrued legal expenses 4,757 5,126 Accrued interest expense 8,773 956 Other accrued expenses 5,921 5,752 Other current liabilities $ 57,607 $ 64,969

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
Fair Value Measurements (Tables)	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The following table presents the Company’s assets and liabilities that are measured at fair value on a recurring basis as of March 31, 2022 and December 31, 2021: As of March 31, 2022 Level 1 Level 2 Level 3 Total Assets: Available-for-Sale Investments Asset backed securities $ — $ 113,038 $ — $ 113,038 Certificates of deposits — 6,000 — 6,000 Corporate notes and bonds — 234,237 — 234,237 Commercial paper — 129,202 — 129,202 Foreign government securities — 18,151 — 18,151 US Government Securities 44,974 27,959 — 72,933 Total assets $ 44,974 $ 528,588 $ — $ 573,562 Liabilities: Private Common Stock Warrants — — 1,831 1,831 Total liabilities $ — $ — $ 1,831 $ 1,831 As of December 31, 2021 Level 1 Level 2 Level 3 Total Assets: Available-for-Sale Investments Asset backed securities $ — $ 111,552 $ — $ 111,552 Certificates of deposits — 6,002 — 6,002 Corporate notes and bonds — 206,989 — 206,989 Commercial paper — 109,391 — 109,391 Foreign government securities — 8,181 — 8,181 US Government Securities 86,787 — — 86,787 Total assets $ 86,787 $ 442,114 $ — $ 528,902 Liabilities: Private Common Stock Warrants — — 6,293 6,293 Total liabilities $ — $ — $ 6,293 $ 6,293
Reconciliation of Level 3 Liabilities	The following is a rollforward of balances for Private Warrants: Private Warrants Balance at December 31, 2021 $ 6,293 Fair market value adjustment (4,462) Balance as of March 31, 2022 $ 1,831

Investments (Tables)

Investments (Tables)	3 Months Ended
Investments (Tables)	Mar. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Components of Investments	The components of investments were as follows: As of March 31, 2022 Adjusted Cost Basis Unrealized Gains Unrealized Losses Fair Value Cash and Cash Equivalents Marketable Securities - Marketable Securities - Asset backed securities $ 113,392 $ 3 $ (357) $ 113,038 $ — $ 6,364 $ 106,674 Certificates of deposits 6,005 — (5) 6,000 — 6,000 — Corporate notes and bonds 235,942 2 (1,707) 234,237 — 171,187 63,051 Commercial paper 129,290 4 (93) 129,202 26,282 102,921 — Money market funds 5,615 — — 5,615 5,615 — — Foreign government securities 18,289 — (137) 18,151 — 18,151 — US government and agency securities 72,938 1 (5) 72,934 7,989 64,943 — Total investments $ 581,471 $ 10 $ (2,304) $ 579,177 $ 39,886 $ 369,566 $ 169,725 As of December 31, 2021 Adjusted Cost Basis Unrealized Gains Unrealized Losses Fair Value Cash and Cash Equivalents Marketable Securities - Marketable Securities - Asset backed securities $ 111,619 $ 1 $ (68) $ 111,552 $ — $ 5,372 $ 106,180 Certificates of deposits 6,002 — — 6,002 — 6,002 — Corporate notes and bonds 207,169 21 (201) 206,990 3,026 132,688 71,276 Commercial paper 109,391 — — 109,391 24,193 85,198 — Money market funds 51,768 — — 51,768 51,768 — Foreign government securities 8,186 — (5) 8,181 — 3,008 5,173 US government securities 86,783 4 — 86,787 — 86,787 — Total investments $ 580,918 $ 26 $ (274) $ 580,671 $ 78,987 $ 319,055 $ 182,629
Schedule of Debt Investment Maturities	Adjusted Estimated Cost Basis Fair Value March 31, 2022 Due in one year or less $ 370,511 $ 369,566 Due after one year through five years 171,074 169,725 Due after five years through ten years — — Total $ 541,585 $ 539,291

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
Long-Term Debt (Tables)	Mar. 31, 2022
Debt Disclosure [Abstract]
Schedule of Long-term Debt	Components of long-term debt were as follows as of March 31, 2022 and December 31, 2021: March 31, December 31, 2022 2021 2021 Senior Secured Notes $ 300,000 $ 300,000 Unamortized discount and issuance costs (20,287) (21,111) Net carrying amount $ 279,713 $ 278,889 Current portion of long-term debt $ — $ — Non-current portion of long-term debt $ 279,713 $ 278,889
Schedule of Maturities	The following table outlines maturities of the principle related to the Company’s long-term debt, including the current portion, as of March 31, 2022: Amount 2022 (excluding the three months ended March 31, 2022) $ — 2023 — 2024 — 2025 — 2026 300,000 Total $ 300,000

Stock Based Compensation (Table

Stock Based Compensation (Tables)	3 Months Ended
Stock Based Compensation (Tables)	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
Summary of Stock-Based Compensation Expense	The following table summarizes stock-based compensation expense recognized for the three months ended March 31, 2022 and 2021 as follows: Three Months Ended March 31, 2022 2021 Research and development $ 2,354 $ 1,207 Sales and marketing 2,879 1,838 General and administrative 72,692 7,900 Total stock-based compensation expense $ 77,925 $ 10,945
Summary of Stock Option and RSU Activity	Stock option and RSU activity during the three months ended March 31, 2022 is as follows (in thousands, except for share, per share, and contractual term data): Options Outstanding Restricted Stock Units Number of Number of Weighted- Weighted- Aggregate Number of Plan shares outstanding Weighted-Average Grant Date Fair Value per share Balance at December 31, 2021 51,437,898 27,727,088 $ 7.79 7.04 $ 113,110 7,600,097 $ 13.17 Additional shares authorized 20,437,691 — — Options and restricted stock units granted (6,062,088) — — 6,062,088 2.86 Options exercised and restricted stock units released — (774,983) 0.30 (104,953) 18.65 Options and restricted stock units canceled 868,193 (198,648) 1.26 (669,545) 11.94 Balance at March 31, 2022 66,681,694 26,753,457 $ 8.06 6.88 $ 40,977 12,887,687 $ 8.34 Exercisable at December 31, 2021 13,157,036 $ 0.15 5.17 $ 95,946 Exercisable at March 31, 2022 12,842,842 0.16 5.09 36,610 Unvested at December 31, 2021 14,570,052 14.69 8.72 17,164 Unvested at March 31, 2022 13,910,615 15.36 8.53 4,367

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	3 Months Ended
Net Loss Per Share (Tables)	Mar. 31, 2022
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table sets forth the computation of basic and diluted loss per Class A common stock and Class B common stock (in thousands, except for share and per share data): Three Months Ended March 31, 2022 2021 Numerator: Net loss – basic $ (148,113) $ (53,592) Denominator: Weighted average common shares outstanding – basic 401,653,954 356,818,954 Net income (loss) per share attributable to common stockholders – basic $ (0.37) $ (0.15) Numerator: Net loss – basic $ (148,113) $ (53,592) Decrease in fair value of public and private common stock warrant liabilities — (3,799) Net loss – diluted $ (148,113) $ (57,391) Denominator: Weighted average common shares outstanding – basic 401,653,954 356,818,954 Incremental common shares from assumed exercise of public and private common stock warrants — 3,008,695 Weighted average common shares outstanding – diluted 401,653,954 359,827,649 Net loss per share attributable to common stockholders – diluted $ (0.37) $ (0.16)
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following outstanding common stock equivalents were considered antidilutive, and therefore, excluded from the computation of diluted net income (loss) per share attributable to common stockholders for the periods presented (share numbers are not in thousands). As of March 31 2022 2021 Common stock warrants 4,535,728 8,157,942 Common stock options 33,999,568 51,121,618 Restricted stock units 6,062,088 1,521,335 Total 44,597,384 60,800,895

Geographical Information (Table

Geographical Information (Tables)	3 Months Ended
Geographical Information (Tables)	Mar. 31, 2022
Segment Reporting [Abstract]
Schedule of Revenue by Geographic Areas	Revenue, classified by the major geographic areas where the end users were located when they entered paid competitions, was as follows: Three Months Ended March 31, 2022 2021 United States 69,177 72,382 Other countries 24,261 11,295 Total $ 93,438 $ 83,677
Schedule of Property and Equipment, Net and Operating Lease Right-Of-Use Assets by Geographic Area	Property and equipment, net and operating lease right-of-use assets by geography is as follows: March 31, December 31, 2022 2021 United States $ 18,940 $ 20,997 Other countries 3,666 3,502 Total $ 22,606 $ 24,499

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	Dec. 16, 2020	Mar. 02, 2020	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Concentration Risk [Line Items]
Reduction to revenue, end-user incentives			$ 16,300	$ 17,600
Sales and marketing expense, end-user incentive			37,000	33,300
Engagement expense			42,100	36,000
Restricted cash			2,920		$ 2,920
Advertising costs			$ 59,700	$ 54,500
Number of shares issued in private placement (in shares)		69,000,000	10,033,333
Number of warrants per unit (in shares)	0.25
Stock sold, price per share (in dollars per share)		$ 10	$ 23.34
Warrant exercise price (in dollars per share)		$ 11.50
Warrants forfeited (in shares)			5,016,666
Restricted stock units
Concentration Risk [Line Items]
Vesting period			4 years
Sponsor
Concentration Risk [Line Items]
Warrants forfeited (in shares)	5,016,666
Public Warrant
Concentration Risk [Line Items]
Number of shares issued in private placement (in shares)		17,250,000
Warrant exercise price (in dollars per share)		$ 11.50
Warrants outstanding (in shares)			0
Private Common Stock Warrants
Concentration Risk [Line Items]
Number of shares issued in private placement (in shares)		10,033,333
Stock sold, price per share (in dollars per share)		$ 1.50
Warrants outstanding (in shares)			4,535,728
Class A common stock, par value $0.0001 per share
Concentration Risk [Line Items]
Number of shares per unit (in shares)		1
Number of shares called by each warrant (in shares)		1
Class A common stock, par value $0.0001 per share \| Public Warrant
Concentration Risk [Line Items]
Number of shares called by each warrant (in shares)		1
Class A common stock, par value $0.0001 per share \| Private Common Stock Warrants
Concentration Risk [Line Items]
Number of shares called by each warrant (in shares)		1
Revenue \| Customer Concentration Risk \| Developer One
Concentration Risk [Line Items]
Concentration risk, percentage (less than)			41.00%	42.00%
Revenue \| Customer Concentration Risk \| Developer Two
Concentration Risk [Line Items]
Concentration risk, percentage (less than)			38.00%	41.00%

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Accounting Policies [Abstract]
Cash and cash equivalents	$ 114,558	$ 241,332
Restricted cash	2,920	2,920
Cash, cash equivalents and restricted cash	$ 117,478	$ 244,252	$ 615,498	$ 265,648

Business Combinations - Narrati

Business Combinations - Narrative (Details) - USD ($) $ in Thousands	Jul. 16, 2021	Mar. 31, 2022
Business Acquisition [Line Items]
Decrease to goodwill		$ (409)
Aarki
Business Acquisition [Line Items]
Percentage of voting interest acquired	100.00%
Total purchase price	$ 162,347
Cash	95,296
Common stock issued	$ 67,051
Number of shares issued (in shares)	4,401,663
Increase to accrued federal and state tax payable, current deferred tax liability and uncertain tax liability		400
Decrease to goodwill		$ (400)

Business Combinations - Acquisi

Business Combinations - Acquisition of Aarki, Inc (Details) - USD ($) $ / shares in Units, $ in Thousands	Jul. 16, 2021	Mar. 31, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Goodwill		$ 86,436	$ 86,845
Aarki
Business Acquisition [Line Items]
Cash	$ 95,296
Common stock issued	67,051
Total purchase price	$ 162,347
Number of shares issued (in shares)	4,401,663
Share price (in dollars per share)	$ 15.23
Cash and cash equivalents	$ 11,309
Accounts receivable, net	13,700
Prepaid expenses and other current assets	356
Property, plant and equipment, net	5,075
Intangible assets, net	86,800
Other long-term assets	91
Accounts payable	(445)
Accrued professional fees	(3,145)
Other current liabilities	(16,471)
Deferred tax liabilities	(20,075)
Other long-term liabilities	(1,693)
Identifiable net assets acquired	75,502
Goodwill	86,845
Total purchase price	162,347
Acquired Finite-Lived Intangible Assets [Line Items]
Fair Value	$ 86,800
Aarki \| Developed technology
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted-average useful life (in years)	8 years
Fair Value	$ 60,400
Aarki \| Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted-average useful life (in years)	3 years
Fair Value	$ 26,200
Aarki \| Trademark and trade name
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted-average useful life (in years)	3 months 18 days
Fair Value	$ 200

Business Combinations - Goodwil

Business Combinations - Goodwill (Details) $ in Thousands	3 Months Ended
Business Combinations - Goodwill (Details) $ in Thousands	Mar. 31, 2022USD ($)
Goodwill [Roll Forward]
Balance at December 31, 2021	$ 86,845
Goodwill adjustment	(409)
Balance as of March 31, 2022	$ 86,436

Balance Sheet Components - Prep

Balance Sheet Components - Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Credit card processing reserve	$ 10,450	$ 9,527
Prepaid expenses	10,427	5,681
Other current assets	1,090	1,496
Prepaid expenses and other current assets	$ 21,967	$ 16,704

Balance Sheet Components - Inta

Balance Sheet Components - Intangible Assets, Net (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 86,800
Accumulated Amortization	(11,734)
Net Carrying Amount	75,066	$ 79,137
Developed technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	60,400
Accumulated Amortization	(5,348)
Net Carrying Amount	$ 55,052
Developed technology \| Weighted Average
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Life (in years)	7 years 3 months 29 days
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 26,200
Accumulated Amortization	(6,186)
Net Carrying Amount	$ 20,014
Customer relationships \| Weighted Average
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Life (in years)	2 years 3 months 29 days
Trademark and trade name
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 200
Accumulated Amortization	(200)
Net Carrying Amount	$ 0
Trademark and trade name \| Weighted Average
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Life (in years)	0 years

Balance Sheet Components - Fini

Balance Sheet Components - Finite-Lived Intangible Assets Activity (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)
Finite-lived Intangible Assets [Roll Forward]
Beginning balance at December 31, 2021	$ 79,137
Amortization	(4,071)
Ending balance at March 31, 2022	$ 75,066

Balance Sheet Components - Amor

Balance Sheet Components - Amortization Expense (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)
Finite-Lived Intangible Assets [Line Items]
Total amortization expense	$ 4,071
Cost of revenue
Finite-Lived Intangible Assets [Line Items]
Total amortization expense	1,888
Sales and marketing
Finite-Lived Intangible Assets [Line Items]
Total amortization expense	2,183
General and administrative
Finite-Lived Intangible Assets [Line Items]
Total amortization expense	$ 0

Balance Sheet Components - Futu

Balance Sheet Components - Future Amortization Expense (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
2022	$ 12,212
2023	16,283
2024	12,281
2025	7,550
2026	7,550
Thereafter	19,190
Net Carrying Amount	$ 75,066	$ 79,137

Balance Sheet Components - Othe

Balance Sheet Components - Other Current Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Accrued sales and marketing expenses	$ 13,425	$ 28,895
Accrued compensation	10,737	12,108
Accrued publisher fees	7,242	3,912
End-user liability, net	3,562	4,118
Accrued developer revenue share	1,147	1,655
Short-term lease obligations	2,043	2,447
Accrued legal expenses	4,757	5,126
Accrued interest expense	8,773	956
Other accrued expenses	5,921	5,752
Other current liabilities	$ 57,607	$ 64,969

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Cash and cash equivalents	$ 114,558	$ 241,332

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value of Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Private Common Stock Warrants	$ 1,831	$ 6,293
Fair Value, Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-Sale Investments	573,562	528,902
Total liabilities	1,831	6,293
Fair Value, Recurring \| Asset backed securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-Sale Investments	113,038	111,552
Fair Value, Recurring \| Certificates of deposits
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-Sale Investments	6,000	6,002
Fair Value, Recurring \| Corporate notes and bonds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-Sale Investments	234,237	206,989
Fair Value, Recurring \| Commercial paper
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-Sale Investments	129,202	109,391
Fair Value, Recurring \| Foreign government securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-Sale Investments	18,151	8,181
Fair Value, Recurring \| US Government Securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-Sale Investments	72,933	86,787
Fair Value, Recurring \| Private Common Stock Warrants
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Private Common Stock Warrants	1,831	6,293
Level 1 \| Fair Value, Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-Sale Investments	44,974	86,787
Total liabilities	0	0
Level 1 \| Fair Value, Recurring \| Asset backed securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-Sale Investments	0	0
Level 1 \| Fair Value, Recurring \| Certificates of deposits
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-Sale Investments	0	0
Level 1 \| Fair Value, Recurring \| Corporate notes and bonds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-Sale Investments	0	0
Level 1 \| Fair Value, Recurring \| Commercial paper
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-Sale Investments	0	0
Level 1 \| Fair Value, Recurring \| Foreign government securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-Sale Investments	0	0
Level 1 \| Fair Value, Recurring \| US Government Securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-Sale Investments	44,974	86,787
Level 1 \| Fair Value, Recurring \| Private Common Stock Warrants
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Private Common Stock Warrants	0	0
Level 2 \| Fair Value, Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-Sale Investments	528,588	442,114
Total liabilities	0	0
Level 2 \| Fair Value, Recurring \| Asset backed securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-Sale Investments	113,038	111,552
Level 2 \| Fair Value, Recurring \| Certificates of deposits
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-Sale Investments	6,000	6,002
Level 2 \| Fair Value, Recurring \| Corporate notes and bonds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-Sale Investments	234,237	206,989
Level 2 \| Fair Value, Recurring \| Commercial paper
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-Sale Investments	129,202	109,391
Level 2 \| Fair Value, Recurring \| Foreign government securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-Sale Investments	18,151	8,181
Level 2 \| Fair Value, Recurring \| US Government Securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-Sale Investments	27,959	0
Level 2 \| Fair Value, Recurring \| Private Common Stock Warrants
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Private Common Stock Warrants	0	0
Level 3 \| Fair Value, Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-Sale Investments	0	0
Total liabilities	1,831	6,293
Level 3 \| Fair Value, Recurring \| Asset backed securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-Sale Investments	0	0
Level 3 \| Fair Value, Recurring \| Certificates of deposits
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-Sale Investments	0	0
Level 3 \| Fair Value, Recurring \| Corporate notes and bonds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-Sale Investments	0	0
Level 3 \| Fair Value, Recurring \| Commercial paper
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-Sale Investments	0	0
Level 3 \| Fair Value, Recurring \| Foreign government securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-Sale Investments	0	0
Level 3 \| Fair Value, Recurring \| US Government Securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-Sale Investments	0	0
Level 3 \| Fair Value, Recurring \| Private Common Stock Warrants
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Private Common Stock Warrants	$ 1,831	$ 6,293

Fair Value Measurements - Unobs

Fair Value Measurements - Unobservable Input Reconciliation (Details) - Private Common Stock Warrants $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at December 31, 2021	$ 6,293
Fair market value adjustment	(4,462)
Balance as of March 31, 2022	$ 1,831

Investments - Components of Inv

Investments - Components of Investments (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Adjusted Cost Basis	$ 581,471	$ 580,918
Unrealized Gains	10	26
Unrealized Losses	(2,304)	(274)
Fair Value	579,177	580,671
Cash and Cash Equivalents	39,886	78,987
Marketable securities, current	369,566	319,055
Marketable securities, non-current	169,725	182,629
Asset backed securities
Debt Securities, Available-for-sale [Line Items]
Adjusted Cost Basis	113,392	111,619
Unrealized Gains	3	1
Unrealized Losses	(357)	(68)
Fair Value	113,038	111,552
Cash and Cash Equivalents	0	0
Marketable securities, current	6,364	5,372
Marketable securities, non-current	106,674	106,180
Certificates of deposits
Debt Securities, Available-for-sale [Line Items]
Adjusted Cost Basis	6,005	6,002
Unrealized Gains	0	0
Unrealized Losses	(5)	0
Fair Value	6,000	6,002
Cash and Cash Equivalents	0	0
Marketable securities, current	6,000	6,002
Marketable securities, non-current	0	0
Corporate notes and bonds
Debt Securities, Available-for-sale [Line Items]
Adjusted Cost Basis	235,942	207,169
Unrealized Gains	2	21
Unrealized Losses	(1,707)	(201)
Fair Value	234,237	206,990
Cash and Cash Equivalents	0	3,026
Marketable securities, current	171,187	132,688
Marketable securities, non-current	63,051	71,276
Commercial paper
Debt Securities, Available-for-sale [Line Items]
Adjusted Cost Basis	129,290	109,391
Unrealized Gains	4	0
Unrealized Losses	(93)	0
Fair Value	129,202	109,391
Cash and Cash Equivalents	26,282	24,193
Marketable securities, current	102,921	85,198
Marketable securities, non-current	0	0
Money market funds
Debt Securities, Available-for-sale [Line Items]
Adjusted Cost Basis	5,615	51,768
Unrealized Gains	0	0
Unrealized Losses	0	0
Fair Value	5,615	51,768
Cash and Cash Equivalents	5,615	51,768
Marketable securities, current	0	0
Marketable securities, non-current	0
Foreign government securities
Debt Securities, Available-for-sale [Line Items]
Adjusted Cost Basis	18,289	8,186
Unrealized Gains	0	0
Unrealized Losses	(137)	(5)
Fair Value	18,151	8,181
Cash and Cash Equivalents	0	0
Marketable securities, current	18,151	3,008
Marketable securities, non-current	0	5,173
US Government Securities
Debt Securities, Available-for-sale [Line Items]
Adjusted Cost Basis	72,938	86,783
Unrealized Gains	1	4
Unrealized Losses	(5)	0
Fair Value	72,934	86,787
Cash and Cash Equivalents	7,989	0
Marketable securities, current	64,943	86,787
Marketable securities, non-current	$ 0	$ 0

Investments - Additional Inform

Investments - Additional Information (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Non-marketable equity securities	$ 55,649	$ 55,649

Investments - Maturities (Detai

Investments - Maturities (Details) $ in Thousands	Mar. 31, 2022USD ($)
Adjusted Cost Basis
Due in one year or less	$ 370,511
Due after one year through five years	171,074
Due after five years through ten years	0
Total	541,585
Estimated Fair Value
Due in one year or less	369,566
Due after one year through five years	169,725
Due after five years through ten years	0
Total	$ 539,291

Long-Term Debt - Summary of Deb

Long-Term Debt - Summary of Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
2021 Senior Secured Notes	$ 300,000
Unamortized discount and issuance costs	(20,287)	$ (21,111)
Net carrying amount	279,713	278,889
Current portion of long-term debt	0	0
Non-current portion of long-term debt	279,713	278,889
2021 Senior Secured Notes \| Senior Notes
Debt Instrument [Line Items]
2021 Senior Secured Notes	$ 300,000	$ 300,000

Long-Term Debt - Narrative (Det

Long-Term Debt - Narrative (Details) - USD ($)	1 Months Ended	3 Months Ended
Long-Term Debt - Narrative (Details) - USD ($)	Dec. 31, 2021	Mar. 31, 2022
Debt Instrument [Line Items]
Accrued interest expense	$ 956,000	$ 8,773,000
Interest paid		0
Senior Notes \| 2021 Senior Secured Notes
Debt Instrument [Line Items]
Face amount	$ 300,000,000
Interest rate	10.25%
Effective interest rate	12.14%
Debt term	5 years
Fair value		$ 261,000,000

Long-Term Debt - Maturities (De

Long-Term Debt - Maturities (Details) $ in Thousands	Mar. 31, 2022USD ($)
Long-term Debt, Fiscal Year Maturity [Abstract]
2022 (excluding the three months ended March 31, 2022)	$ 0
2023	0
2024	0
2025	0
2026	300,000
Total	$ 300,000

Leases - Additional Information

Leases - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Leases [Abstract]
Decrease in operating lease right-of-use assets	$ 534	$ (13,453)
Increase in operating lease liabilities	$ (473)	14,386
Decrease in operating assets and liabilities		$ 900

Commitment and Contingencies -

Commitment and Contingencies - Narrative (Details) - USD ($) $ in Thousands	1 Months Ended
	Apr. 30, 2022	Sep. 30, 2021
Loss Contingencies [Line Items]
Damages awarded		$ 11,600
Subsequent Event
Loss Contingencies [Line Items]
Damages awarded	$ 4,350

Common Stock Warrants (Details)

Common Stock Warrants (Details)	Mar. 02, 2020$ / sharesshares	Mar. 31, 2022trading_day$ / sharesshares	Aug. 16, 2021shares
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Number of shares issued in private placement (in shares)	69,000,000	10,033,333
Warrant exercise price (in dollars per share) \| $ / shares	$ 11.50
Redemption price (in dollars per share) \| $ / shares		$ 0.01
Minimum number of days for written notice of redemption \| trading_day		30
Warrant redemption, sale price of common stock for warrants to be redeemed (in dollars per share) \| $ / shares		$ 18
Warrant redemption, number of trading days \| trading_day		20
Warrants forfeited (in shares)		5,016,666
Class A common stock, par value $0.0001 per share
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Number of shares called by each warrant (in shares)	1
Public Warrant
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Warrants outstanding (in shares)		0
Number of shares issued in private placement (in shares)	17,250,000
Warrant exercise price (in dollars per share) \| $ / shares	$ 11.50
Number of warrants expired (in shares)			5,888,294
Public Warrant \| Class A common stock, par value $0.0001 per share
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Number of shares called by each warrant (in shares)	1
Private Common Stock Warrants
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Warrants outstanding (in shares)		4,535,728
Warrants exercised (in shares)		0
Number of shares issued in private placement (in shares)	10,033,333
Private Common Stock Warrants \| Class A common stock, par value $0.0001 per share
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Number of shares called by each warrant (in shares)	1

Stockholders' Equity (Details)

Stockholders' Equity (Details) $ / shares in Units, $ in Thousands	Mar. 02, 2020$ / sharesshares	Mar. 31, 2021USD ($)shares	Mar. 31, 2022USD ($)vote$ / sharesshares	Mar. 31, 2021USD ($)	Dec. 31, 2021$ / sharesshares
Class of Stock [Line Items]
Shares authorized (in shares)			635,000,000
Common stock, shares authorized (in shares)			625,000,000		625,000,000
Common stock, par value (in dollars per share) \| $ / shares			$ 0.0001		$ 0.0001
Preferred stock, shares authorized (in shares)			10,000,000		10,000,000
Preferred stock, par value (in dollars per share) \| $ / shares			$ 0.0001		$ 0.0001
Number of shares issued (in shares)	69,000,000		10,033,333
Issuance costs \| $		$ 6,800	$ 0	$ 13,167
Stock sold, price per share (in dollars per share) \| $ / shares	$ 10		$ 23.34
Underwritten Public Offering
Class of Stock [Line Items]
Number of shares available at election (in shares)		19,800,000
Over-Allotment Option
Class of Stock [Line Items]
Number of shares available at election (in shares)		4,800,000
Class A common stock, par value $0.0001 per share
Class of Stock [Line Items]
Common stock, votes per share \| vote			1,000,000
Common stock, shares authorized (in shares)			500,000,000		500,000,000
Aggregate consideration \| $		$ 408,000
Issuance costs \| $		$ 5,900
Class A common stock, par value $0.0001 per share \| Underwritten Public Offering
Class of Stock [Line Items]
Number of shares issued (in shares)		17,000,000
Class B Common Stock
Class of Stock [Line Items]
Common stock, votes per share \| vote			20,000,000
Common stock, shares authorized (in shares)			125,000,000		125,000,000
Common stock, par value (in dollars per share) \| $ / shares			$ 0.0001

Stock Based Compensation - Stoc

Stock Based Compensation - Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	$ 77,925	$ 10,945
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	2,354	1,207
Sales and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	2,879	1,838
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	$ 72,692	$ 7,900

Stock Based Compensation - Narr

Stock Based Compensation - Narrative (Details) $ in Thousands	1 Months Ended		3 Months Ended		12 Months Ended
	Sep. 30, 2021USD ($)multipliershares	Dec. 31, 2020USD ($)installmentshares	Mar. 31, 2022USD ($)shares	Mar. 31, 2021USD ($)	Dec. 31, 2021shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of stock outstanding		5.00%
Unrecognized stock-based compensation expense \| $			$ 177,300
Unrecognized stock-based compensation expense, period for recognition			3 years 2 months 26 days
Aggregate intrinsic value \| $			$ 2,600	$ 7,900
Total stock-based compensation expense \| $			$ 77,925	$ 10,945
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued (in shares)			7,200,000		8,200,000
Performance restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued (in shares)			2,000,000
2020 Omnibus Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period		10 years
Vesting period		1 year
Shares authorized (in shares)		86,771,777
2020 Omnibus Incentive Plan \| Common Class A and B
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized (in shares)		15,000,000
2020 Omnibus Incentive Plan \| Class A common stock, par value $0.0001 per share
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized (in shares)		56,264,600
2020 Omnibus Incentive Plan \| Class B Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized (in shares)		15,507,177
2020 Omnibus Incentive Plan \| Performance restricted stock units \| Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	7 years
Shares granted (in shares)	16,100,000
Market capitalization milestone, trading days	60 days
Trading days	30 days
Options, grant date fair value \| $	$ 70,800
Additional stock-based compensation expense \| $			$ 65,100
2020 Omnibus Incentive Plan \| Performance restricted stock units \| Chief Executive Officer \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Market capitalization baseline multiplier \| multiplier	2
2020 Omnibus Incentive Plan \| Performance restricted stock units \| Chief Executive Officer \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Market capitalization baseline multiplier \| multiplier	5
Option Agreements
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based compensation expense \| $			68,400
Options, grant date fair value \| $		$ 93,400
Number of installments \| installment		3
Total stock-based compensation expense \| $			$ 4,800
Option Agreements \| Tranche one
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Trading day period		10 days
Vesting percentage		33.33%
Volume weighted average price multiplier		300.00%
Option Agreements \| Tranche two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage		33.33%
Volume weighted average price multiplier		400.00%
Option Agreements \| Tranche three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage		33.33%
Volume weighted average price multiplier		500.00%
Option Agreements \| Class A common stock, par value $0.0001 per share \| Chief Revenue Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized (in shares)		2,040,000
Option Agreements \| Class B Common Stock \| Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized (in shares)		9,960,000

Stock Based Compensation - St_2

Stock Based Compensation - Stock Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Number of Shares Available for Issuance Under the Plan
Beginning balance (in shares)	51,437,898
Options and restricted stock units granted (in shares)	(6,062,088)
Additional shares authorized (in shares)	20,437,691
Options canceled (in shares)	868,193
Ending balance (in shares)	66,681,694	51,437,898
Number of Shares Outstanding Under the Plan
Beginning balance (in shares)	27,727,088
Options granted (in shares)	0
Options exercised (in shares)	(774,983)
Options canceled (in shares)	(198,648)
Ending balance (in shares)	26,753,457	27,727,088
Exercisable (in shares)	12,842,842	13,157,036
Unvested (in shares)	13,910,615	14,570,052
Weighted- Average Exercise Price
Beginning balance (in dollars per share)	$ 7.79
Options granted (in dollars per share)	0
Options exercised (in dollars per share)	0.30
Options canceled (in dollars per share)	1.26
Ending balance (in dollars per share)	8.06	$ 7.79
Exercisable, weighted-average exercise price (in dollars per share)	0.16	0.15
Unvested, weighted-average exercise price (in dollars per share)	$ 15.36	$ 14.69
Weighted-Average Remaining Contractual Term and Aggregate Intrinsic Value
Options outstanding, weighted-average remaining contractual term	6 years 10 months 17 days	7 years 14 days
Exercisable, weighted-average remaining contractual term	5 years 1 month 2 days	5 years 2 months 1 day
Unvested, weighted-average remaining contractual term	8 years 6 months 10 days	8 years 8 months 19 days
Options outstanding, aggregate intrinsic value	$ 40,977	$ 113,110
Exercisable, aggregate intrinsic value	36,610	95,946
Unvested, aggregate intrinsic value	$ 4,367	$ 17,164
Restricted stock units
Number of Plan shares outstanding
Beginning balance (in shares)	7,600,097
Restricted stock units granted (in shares)	6,062,088
Restricted stock units released (in shares)	(104,953)
Restricted stock units canceled (in shares)	(669,545)
Ending balance (in shares)	12,887,687	7,600,097
Weighted-Average Grant Date Fair Value per share
Beginning balance (in dollars per share)	$ 13.17
Granted (in dollars per share)	2.86
Vested (in dollars per share)	18.65
Forfeited (in dollars per share)	11.94
Ending balance (in dollars per share)	$ 8.34	$ 13.17

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Income Tax Disclosure [Abstract]
(Benefit from) provision for income taxes	$ (213)	$ 42
Effective tax rate	0.14%	(0.08%)

Net Loss Per Share - Computatio

Net Loss Per Share - Computation of Net Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Numerator:
Net loss – basic	$ (148,113)	$ (53,592)
Decrease in fair value of public and private common stock warrant liabilities	0	(3,799)
Net loss – diluted	$ (148,113)	$ (57,391)
Denominator:
Weighted average common shares outstanding - basic (in shares)	401,653,954	356,818,954
Incremental common shares from assumed exercise of private warrants (in shares)	0	3,008,695
Weighted average common shares outstanding - diluted (in shares)	401,653,954	359,827,649
Net income (loss) per share attributable to common stockholders - basic (in dollars per share)	$ (0.37)	$ (0.15)
Net loss per share attributable to common stockholders - diluted (in dollars per share)	$ (0.37)	$ (0.16)

Net Loss Per Share - Antidiluti

Net Loss Per Share - Antidilutive Shares (Details) - shares	3 Months Ended
Net Loss Per Share - Antidilutive Shares (Details) - shares	Mar. 31, 2022	Mar. 31, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total (in shares)	44,597,384	60,800,895
Common stock warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total (in shares)	4,535,728	8,157,942
Common stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total (in shares)	33,999,568	51,121,618
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total (in shares)	6,062,088	1,521,335

Geographical Information - Reve

Geographical Information - Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 93,438	$ 83,677
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	69,177	72,382
Other countries
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 24,261	$ 11,295

Geographical Information - Prop

Geographical Information - Property and Equipment, Net and Operating Lease Right-of-Use Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Property and equipment, net and operating lease right-of-use assets	$ 22,606	$ 24,499
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Property and equipment, net and operating lease right-of-use assets	18,940	20,997
Other countries
Revenues from External Customers and Long-Lived Assets [Line Items]
Property and equipment, net and operating lease right-of-use assets	$ 3,666	$ 3,502