SKLZ - Earnings call transcript Q2 2022

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Operator

Good afternoon, and thank you for attending today's Skillz Second Quarter 2022 Earnings Call. My name is Jason, and I will be the moderator for today's call. [Operator Instructions]. I would now like to pass the conference over to our host Charlotte Edelman of Skillz.

Charlotte Edelman

Good afternoon, and welcome to the Skillz Second Quarter 2022 Earnings Conference Call. by by forward-looking then brief shortly measures and question-and-answer proceed followed immediately introductory will reading statements our non-GAAP session. I remarks and Chief Chief question-and-answer Officer; of Lee, the the session we Officer Andrew Hosting today, Chief Financial Casey Officer; Revenue Paradise, Chafkin, company. and Ian have Executive our Relations and hope also which We out available had website. we which on chance a release, you've Investor is published read our to press earlier today

the of securities Some statements comments within of laws. today forward-looking meaning management's include will the federal

on Forward-looking other by materially such differ for refer cause SEC could financial statements, expect. risks the use the company's more to a as impact them. will, could are usually and We to which the Therefore, identified are from numerous of exercise future and what you should risks filings you condition. expect, similar to discussion that results caution detailed words of in results should that subject we uncertainties or operating and relying interpreting actual phases

the we to directly over reconciliation Andrew measures A a in turn release. for earnings results of our brief with GAAP. believe non-GAAP operating considered second can XXXX measures, for not in call measures accordance as financial in to call, some substitute which isolation performance. be comparable remarks. the these our is useful most GAAP quarter the in company's or I'll evaluating discuss prepared Andrew? be available management With During the opening measures These should will that,

Andrew Paradise

quarter joining our thank everyone, Good today us to XXXX afternoon, second Charlotte. results. you, for and Thank discuss you

thoughts. not to about our on my going what thoughts going and far, experience on like I'd share developer do I'd it. through change what's with greater improving questions, efficiency profitable in and begin few player well strategy taking Before like XXXX what and initiatives. to focus so your we're a share impact our driving growth, is product-led to entered we We on a to

also We the our spend This was start in net make me by went running engagement by We RAEM our And made $XX it we systematically a efficiency marketing only payback million. QX, progress our the those almost continue march reduced towards of after $X about we business paybacks our with In we reducing to user well. our acquisition is profitability. process loss used improving revenue IPO. and quarter-over-quarter, X-month acquisition. periods while by to at plan marketing where XX% back Let reaching of on that progress levels. lowered million

We we aren't our align our a engagement to QX, continue executed revenue not will with EBITDA initiatives and yield, rate. revenue against they a we restructuring low-return in our reduce our marketing revenue. do ratio changes and priorities. increasing that Overall, net workforce loss to burn resources have of the we of such, data As engagement adjusted after yielding indicative by or quality that our in reduced strategic improved as better marketing

experience. we with of the a our beta initiative core public wins, which to progress QX but in few launched of cloud pleased a mentioned We more sake still make would Over I the X this launched of gaming we balance we we beta didn't quarter. these see we had to months, the product anyone we're as public progress here as for development, we the technology and opposed discussed wanted refreshed thinking past user a last in

Okay.

cost. profitability paying active into Let positioning engagement what users, Revenue a fell company monthly marketing, me after the real We're all had well. go sequentially go didn't for quarter-over-quarter.

to HX results Several highlight our did areas yet. that here include I also can our where desired will not and better. We we initiatives have product want get achieve

new liked didn't aren't many and product have tested In had have are velocity that too many driving experiments We've than LTV new also and development LTV or We've too product features we've been had would that detrimental. yield we growth split slower even had fact, sometimes anticipated. detrimental. sometimes

On I'll the product on the development. rolled revenue user work do board on we in experiments users think for users on lower main and in mix in are that We're marketing we rollout. work retention our in and marketing across Moreover, on efficiency. The we was all do any It's we've sequential work low-return initiatives. full platform product reducing decline really improving quality marketing on grow have revenue And the now decline more have to have a primary to The phase after caused modifications engagement system. our shouldn't of mature of causes and of business. of this our some cohorts to past more marketing from drivers acquisition systematic side, cheating a our the that. of of of engagement and test us product instances to still the address that bar raising personally

So referrals. give users users I when you the of in including system Philippines, our to abusing are and example. friend on platform, delivering We've discounts instances financial cheating, seen other without of me an abusing incentives such countries where speak incentives referral the in let real program get user cheating as

especially improve for about initiatives why? It's we're players to confident So to experience developer on and going opportunities developers. progress to our so product drive here's consumer what a potential better and platform. We remain the lately experiences many the with frustrating and in product-led do for next

There and profile. detail We're more our step things returning the year. a are share This to when million. the superior earlier, a will lower X-month to the our And to in our that fix IPO, to is there. paybacks as tonight. has last is work to published already QX As guidance help more mentioned which build on products had fixing to full I payback. to we LTV ending superior we business. far letter, get to such, I'm business Repositioning the our going coming pretty for we approached happening started. a to our stockholder we be product revenue the is plan as in in And right lot I Skillz fix all back CAC development paybacks we days first where need from XXXX company year were $XXX ahead easy and profitability our us

our determined than While this to of still We goals us do ever team progress the structure. scope our much quarter towards accomplished the make had it. our more by to and has leaves work more. always some now do, I'm more There's driver ambitions we long-term wishing and rationalizing ahead cost past did

for execute strategy that enable this competition. had and transition than more your your going of I today. new in increase mobile exciting existing the incredibly This through to means can gaming path the player development. We're that let efficiency market tell on drive deliver to huge we're efficiency transform we're to continue $XX years up we open competition, reduce and the both you understanding support, pushing path. are thank about truly news I better the that product belief Our to hard the to focus can greatest opportunity, questions. quarter, think improvement again continue remains patience of and potential, growth on ahead. the will this we've to this and the through long-term It's going I now a we to to last costs. velocity marketing to our for very your durable in achieve With and outlined quarter. steadfast to me billion ahead we're a wish for opportunity business outline developer It's we this we only alike. turning everyone in continue and ever as And you that, I their going

Operator

[Operator Instructions].

Tilchen comes with Canaccord Our from first Genuity. question Jason

Jason Tilchen

quarter and guide thinking out the ago, then million $XXX some by guidance, to obviously, the I back X nearly But it of later, you why to laid short. the reiterating going the revenue back months reducing and just X/X. results think of just Just reasons came you a

on provide you the you what if next you now quarters X in users growth that laid if as well. release, maybe wondering maybe you wondering next is after And confidence as in year? that to some can touch resume additional for, different press obviously, expect decline the color versus out gives the months Just what on you ago? Just X maybe

Andrew Paradise

Absolutely.

Jason, seen to achieving on first rest be we've the expected retention question. all, development challenging delay that velocity going the results the and macroeconomic the the lowering for of We're assuming also We're thank from you, of the the trends launches. throughout system year. slower-than-anticipated the the user is So and environment product product of the of in guidance because recent new the

Jason Tilchen

much marketing to again growth lower Just of spend. of obviously, a base next going there expecting year, a back resumption with

to as it head call give can achieve curious confidence would there able be you was product you're that you we fiscal specifically anything pipeline Just the resumption that going that of growth maybe 'XX? if to into in

Andrew Paradise

Yes. driver lower The mature from from retention cohorts. the primary

part quite -- going the get seen community. actors company fraud bad attention that is behavior public, the of I the cheating don't is landed we And ecosystem. First also would anticipate think a and and entering with we attention bad the level we've lot on more

I lot outside platform, U.S. on overview, smoothing in So friend program, actually abuse, countries a referral in I money but executing out in particularly countries system. our of fraud. We've the cheating the think users from X of mentioned in Philippines. to attempting the literally and and/or my and We're cheating the to steal of their home spikes identify like instances country address remediated issue try continuing the of users other seeing to

over The landing anticipate. not second mentioned of months changes that the product level piece, XX think we have that LTV the I last I past really been

on there us that and we'll confidence We give have different track that engagement think modifying both initiatives we're monetization. get on I that back multiple retention,

about part platform's a Skillz platform, a very think you as promise. important trust of is If our

damaging beyond really that But any I And is it's the and fraudulent real. their look at think revenue as safety cheating it, you people cheated, platform. that have because operates. engagement the how and and almost being are marketplace-type is business behavior the on and retention not to only even defrauded not damaging to trust it important and

summarize, I'd to under think say us of I to very get this for it's top mind immediately. So control

Operator

question Our next from Crum Stifel. comes Drew with

Andrew Crum

you I Should declines for year? this reaccelerate different? outlook experienced or follow-up. have what paying balance your further next of decline be in And type the you through in similar of something commentary there catalyst What then So Andrew, the XQ metric a mind anticipating? a And mouth year. have to are you it is to assumes

Andrew Paradise

you, Okay. to Thank going about Drew, question. I'm to Casey to talk Marketing turn it over for the growth.

Casey Chafkin

of -- money from are system we system, amounts people is deposited number -- to extract we of some have Andrew. the Thanks, a the way discounts of in or Drew, think we or are the Jason, have as about smaller with this the who playing past. depositing sorry, who incentives the low

as those monthly so And engagement in our the pull largest active the done quite And we that not becomes users. paying contributor reducing incentives spend. we're marketing decline to out,

So becoming ostensibly, a user-by-user is across what more profitable business. we're the on doing level

reacceleration about level the don't incentives see cohort the back, each never profile after been that actually decline so the cohort cease that out. platform, way retention our of And in growth the on playing and the and at -- We is pulled confidence to think then completely those of they all have dies.

As low or are calculation. MAU who we're are those users out counted we still of pull value and some pulling out paying incentives, no

year. that back are And about adding the at cohorts think so pulled decline just adding then half is the as user And to the future. in those reducing incentives out, completely the growth -- new in a drive continuing will to the rate of way

Andrew Crum

presumably from implied looks then to in follow-up half. Got And reduction pertains half? same engagement prevents margin your what the first the reorg, it. in planned the with your second to savings It in spend to my marketing showing and improvement that's adjusted the the the guidance. as from helpful. Very margin second And you be EBITDA half some

Andrew Paradise

would like that question? Ian, you to on jump in

Ian Lee

Yes. Thanks, Drew.

action the restructuring marketing, think, with I really declines the is so in around think in are nets focused spend. out. on continuing reduction quarter, think, after is, here, I continue. expense took continue marketing we really, engagement mentioned focus as second operating to expect we I that overall where I going that the here half, optimize top to to this line We on focus that the Obviously, revenue think, to just I the the be, and

again, against that's half, what think clearly I the the reduction focused operating expenses see So in again, in top we'll happens second in with the may that declines on, line. be very the netted

that's So Drew. out, where guidance came I think the

Operator

Citi. with Bazinet Jason from comes question next Our

Jason Bazinet

those I question a just X-month had on quick paybacks.

Is some $XXX I running initiatives don't million IPO. as $XX of that get $XXX million business time your a that the at the or doing in natural you're smaller? just there million you're of it's and of easier fair of it is And a occur sort to paybacks reason about talked You the revenue if does if payback ask that to X-month say if is of even improvement the gets revenue. some work, revenue should then

Andrew Paradise

in many I all be sorry, mean thank true -- that don't appreciate the potentially you think to be question. it. appreciate I rude, I the engagement. businesses can for I

I of think can I'd consideration that's TAM be if leads you believe, will, out, I And of to net that smaller you're revenue. of -- kind the million many point up, and is true seeing were, that we $XXX our revenue in paybacks. question worse being I markets. why the think dried

scale. say market all scaled we've tapping out seeing, prices. our what driving And we been is not that would And that as upwards, the not we basically so

TAM value everything -- has so for and that marketing is it, in over And think accreting the I reason way I we see human on better it. LTV getting little Casey, of better a in have I consumed. strong capital they good underperformance working variety opposed it where been works very people against X lack where we're hard we scaling the are a that own on to about there And to our think, of of was this. I a reason how feet a right as here, detriment across guess and piece TAM? we wish believe you better talk from has in resulted of a a been putting do COVID. in have seeing to the understanding want bit no we tripping way the the the roles roles right company, are system that

Casey Chafkin

the business that the Andrew Yes, was talking we're initial our our when product of absolutely. for And the running was more the behavior not is is effects the many the seen weakness think of what and evidence uncommon that offering, is observable in that X.X valuable, And network and we see system what the more and is space. believe that, years lead case you're which challenge to that saw many are you last in businesses of haven't sequentially we our in that. public in that though becoming in to Jason, The opposite itself. in endemic I this real about year we businesses, don't and cohorts us particularly up that's

that become to as behind collaboration, gain, that we feet. bring as the are over tripping own our and rigor opportunities much has getting I the products the people correct for So us. can think rollouts opportunities improving and mentioned, for analytical -- we the Andrew But in-person together market. future called These operational these new will we operational

about asked the board. think of changes, -- it it the cohorts bringing it we're I who comes can actually those believe data question future. Jason, The we confidence new another we from And as so some in was make confidence that see secure seeing was was I the -- on the

Andrew Paradise

support to I COVID and million the think to by to $XXX can one of the X is culture on be And last things X an in-person if culture, absolute our to I XXX the a were year to grow able Jason from And last with $X revenue approached. X, we as these business people more years entirely we to billion. scaled XXX than in-office add, year over from growth revenue

people of call what's happened or difficulty really it, Xx scaling seen culture. in we've Xx, is I think the

people dissatisfaction business a of wish It's and our transition with our companies, enough and turnover that scaling and is to I am on been CEOs the to X I believe I amount that we've that system environment achieve not to talked team type of everyone it you works to a back kind the of work-in-home similar get a guided tell on statements fast challenging. and about a a back our the need an level We've together. person IPO, and work. I our people a end, we results for that. -- been fair of all in at remotely, and difficult to led that building in had action plan of As immediate lot just really people teach do people novel across company RTO quality from hearing week. offices smooth our other of lot taken I to business. or And to an COVID. that our But in-office And a We remotely. days it too could getting we've of back a with other area has getting board in our we're execution of environment. about for to the generate level novel people creativity that It's can't of agreed

So at considered dramatic might in going a X a immediately of action office. to RTO taken days be we've really what week

Operator

question comes next with Lampen Our BTIG. from Clark

William Lampen

couple a questions. had I of

First, the cheating. maybe Andrew, point I around I back, to guess, go wanted

moving maybe see 'XX? in in if growing then might You the sort you was cohorts I mentioned on forward? about that issue you on you to And you could see platform. ways cleaner could if the be release you comment I profitably elaborate which address and amongst us wanted of to the, sort like a that And And if to to possible. confidence there finer player a specific you'd able little to we guess, wanted I and instill will, do you wanted of the a a quarter at improving we maybe made on of profitability, if X payback whether incremental hope should of returning the Skillz also, as bit run. rate think of point capital to, what investments more about around expect put hope the means be the And where seeing growing period, need that to be place that, sort you margins sort in short are to in

term can sort the I talked shorter out do do was What, need coming that the I guys of viable think level guess, team, development, forward? the of about development a that product hiccups you to or product I get you guess, what of and one prepared the remarks, in do to being going also to efficiency you back quality

Andrew Paradise

Sure.

for recap and bit try we everyone listening. first, think I that a little So who's

First, what to doing we we're and cheating, mitigate. can elaborate

What third is and products Second expect capital XXXX build need beyond. to to successful. to be investment we in And is the that profitability.

your handing on things, off is So let the different identity ratings some a me to number the we've one given more account, is but built fraud of game, but increase primary and techniques level ensure of around out team seen that we've X-factor of multi-account a everything difficult player actually a is one hit a device top which of of about and a implementing an defraud of cheating think another kind reset the first. it's There of so kind authentication. to things, duplicate to accounts on are system, is a that user your number duplicate like person standard to cheating That's trying the level like ways of account to identity duplicate fraud. SMS industry

someone I are go changing to like So profitability, and quarter-by-quarter. I'd that Maybe opposed person There be to the That's are actual for and on let X of phone just interest. as forcing ways account are there it's But if things to fraud that the on and multiple a on. chat pretend way Ian, time, talk being laptop, enforcing happy me more system. many we a can we on able and looking capabilities more identity in a the on be are to the And others easily about down ask XXXX. second, cheating to I a offline lot to number, we single people. working can numbers a forcing that where hit we're that to of not some what know we're expect there's if real he'd are XXXX and scooped

Ian Lee

Yes. Thanks, Andrew.

end as we given the XXXX. specific that beyond continue efficiency here XXXX. is at to reach focus and improve across obviously reduce haven't that XXXX, to all look yet. We and key a guide of goal But improve to the to think discussed we've breakeven is clients still, obviously I by previously, our costs into the

of means So course on through obviously, year. again, we more in that But provided improvement the margins yet specifics XXXX. the continued haven't, particular next

Andrew Paradise

need And already then financials in third, we run out. represented in on we capital short that the put that investment the

we of most the our our a think terms in beat to things meter are on financials, I business disappointing very get determined for one us. culture of

forecast. we're it's one you on personally making feel capital days. year in are we the on of our new I for building outlining back in tell half. is think making for I can't of the that the it of I experiments We and missing moving I think did more best the overseas the we we we of level point at like can we'll would the out of looking Anything at what and product my development that would revenue like investment to I can first in with details will my control much of background investments coming add, products, first into one and uses cost things into off yield. business. that said steps in the the for Casey? spend the is has always we product development capabilities And and going costs. am we we that you the a first been closer our definitely investment development, the I level that half But if that control outperformed product are and be

Casey Chafkin

on cheating. about Clark, question the Just,

as whereas in discount hacking a talking referred like an it's a is people in about referral I this incentive of advantage, believe fraud, the case or we're bringing friend the but marketing will something be as things think is, to hacking is that this cheating often controllable game think up industry codes, helpful to things much clarification Andrew unfair think using programs. -- like I is is more the people gain payments we programs, what friendly the that

player geographic matching programs. And -- kind so reduce and very device user of both what we're that we're that truly an And talking the per streams. the the at making is they cohorts system quality about, things trying And And and identity are doing These it's cheating is revenue more ensuring programs per revenue quality becomes we're restrictions more person already to per unprofitable go-forward cheating improve creating most account account. common those much expenditure will on targeted. the form can X gain in of of control. those something and our that to that on that basis. people the likewise, we a our of ultimately

Andrew Paradise

actually said, of just on do we're add course, And fraud I built spoofing of type different rectifying But quite And I was not which, technologies point well. what enough, multi-account strong working which is that would and defenses -- are account to cheating Casey our that going to attack. immediately. is and we are the I out a per clearly,

Operator

with question next Markets. Our RBC from comes Capital Brad Erickson

Bradley Erickson

I characteristics you're you if aside that. Can all time? drive the retention better to cheating guess talk the even where about maybe of or products some new products the setting first maybe over can on just think commentary and you working profitability, on path you is new this

Andrew Paradise

question, the for you Brad. Sure. Thank

we're retention. and improving terms of how in So changing

is support product removing think, doing broader data rollout. features I and reverting the their things experiments we're that first and one we're does of not actually, the

new deep were So actually It's analysis. it's not we rolled by supported products. product not features a and out really that experiments building data were that really

to showing to improvements that that we're reality say but first. actually back done, is LTV. those is have doing paid undue seeing and work in of we're what paying we to rolling I So we're hate already what the

product I as much direct dollars our invest on engagement really the to a efficiently have on development more product to as as into we taking we I company used public not been to. think left able CEO, when development very focus

the that from And is I'm teams. plan I now in experience, New I things. development such right the at think actually on, to to we as building hate to these features be goal critical missing of I think features, in next XXXX. double-ended best strength core pre-IPO we're lease us our months, we where key product basics product such evolved I as refreshing it to social, happen to is the these say from were return to. and has there where we'd And product such lift our -- think that -- we've working problem as think is improving but product achievable and as strength are such details it's doing about pre-pandemic, back now of needs as with it's that in things problems revised the of on, our each it's execution problem, given the been of to each of a that's to our are features. the level generate improving And what of technology to And the XX our solving cohort these March they scale towards. loop a detail-oriented our quite I I carefully product now, expect somewhat LTV LTV am I'm that we to It's needs with a cohort need right the but the is say, way development, some would moving in in company. these pre-IPO where an the And

Bradley Erickson

And $X or it's think question customer of I $X then with of then Ian. isn't so And the from funds? for but out quarter XX% yet, I every like sheet or million accounts. million filing something maybe Got comes on guess Ian, existing it. Yes. the customer a spend the maybe GMV you I balance think guys

a that how XXX-plus the how works, like guess works, we turnover anything So math wrong that you have explain times I that something quarter. customer like implies Can there? balances in may

Ian Lee

No, -- one. on think that's appreciate you the question I -- think I that

with well playing continuation are a that before entering that. in we the I as that funds with system discussed obviously more and bit think people So winnings prior They're from funds. into playing, games and little are already new

as to you million play balance sheet, $X the that funds, to games. then use limited million that $X as So you the funds mentioned, because mentioned, a actually on fairly tend there's go to balance deposit but people

So the Casey, prior I'll to that. games. to add enter platform winnings up you But plus again, and playing on want that open they're on give for more, using you continue again to Andrew,

Casey Chafkin

Yes.

of so Skillz fact is So a are it not players value turnover long-term funds to today not that Brad, times much way is much as the of the the think stored about multiple account. so using

way of their we to depositing time one way long-term balance that larger business, opportunities it make playing money putting in lot of But the money players money the their period cards then there accounts time. insurance account time. into in that their companies their and So then inside on of play in is having highlighted hold actually through play because, people their leaving think in. consuming They're of to and to that account credit the are that that, through same about something Skillz competitions adding And it is money could account it a and have more that of long money then many that and is the for through consuming aren't we real adding the a with they money believe to competitions account, people a to over then people for they course, it's off that do.

Bradley Erickson

business cheating call follow-up, helpful. can I late. guidance the it. I part guess we of represented? that then through are Andrew's comments, any much do of issue, jumped I on maybe And you how and the reduction think of and think apologize this, a that X call for percentage-wise, but That's process maybe I of we opening missed sort some And proxy the a completed. take how guess far Got when as this might it, you be I cleansing on

Andrew Paradise

down such, And level for size some done think idea the a in the guidance, are as think good deal step guidance not think are of we I we removing the to with in I try and -- think And business to before with first goes accounting not always the we're that, we problem we the retail it to too a may a for they're you threshold think we out bad we high. experience any business, a you the just you I cleaning. disrupting always a in of retail need think I are back threshold I And everything of ones, certain a there And good over and solve. giving good at it. and problem engage in understand shrink the very there's have X% business of size the right level to do managing normal number is how revised And store. below paying now, take be looking if the our and actors. only actors. bad our of of bankrupt the is I example, are of customers. far And

can and revenue. to which both So improve cheating, shop you can in analogy. duplicate are trying effects is actually think you and good just of your retention And what remove who account your account you and fraud store have unprofitable X in I problem use duplicate customers the simultaneously, engagement this and is solving of

And faster we issue and scale this we kind And could after have faster. if caught improving solving of as so finish of onwards step been have problem upwards great after would we this our is systems certainly, I detection it cleaning. next the think this for

Operator

[Operator Instructions].

Alter next Ed comes Jefferies. Our question from with

Edward Alter

coming dive [indiscernible] to moving faster? that's last from those more is the kind I a payback know I year? on on in challenging bit had where been it the itself back deeper Or that's to of -- on CPI period exactly the spending sit wanted the to where side,

Andrew Paradise

for the thanks question. Ed,

-- it's I you, a is challenging CAC Is LTV, opportunity? you, you think I or little bit think but questions correctly? the heard asked exactly hear on said to lowering I'm if and period stating your the it you payback improving I -- where were it

Edward Alter

Exactly.

Andrew Paradise

think we Actually, both.

been we've programs. So user cutting back acquisition inefficient

been the unfortunately, that there lower And talking fair years. of now LTV product led We've led will better out. best at been we -- about features rolled And has disruption in opposed to get testing higher product around we've and seen to is think a CAC. I we to cheating. in about I have the retention. feature also better integrity to being amount continue from The we've to are test decay LTV as data actually where talked features actually, that a We think a primarily the CAC

our verifying looking And that's is we're doing of and to we're rerunning a our a the is that company or so decay we're what any -- are we've that approaching was to And basically it were very our as not where products. in we rolled to us data the at quickly valid levels to any enabling whether program as LTV IPO. change good feature, and out seen LTV, we back as move proud

both I think sides. So opportunities on there's

that really well to on be might you'd question. Casey, like Ed, I that So appreciate And as CAC, business think, comment either I particularly on as viable? if your

Casey Chafkin

our beginning what actually that and LTV a going store we about Andrew big investment this Simply seen return payback is think into And low as customer exciting at optimization, is were in. that to app in since in. channel getting we still acquisition the for the bring increase our social that investment is the the moment our it opportunity drive just local that we continued Ed, believe -- the can media on haven't point of of leagues, say was such and continued development give CAC I we optimization that about an and in us even much things that's to and running to we there's LTV side, that move XX time, back COVID, through attractive development still lower. months through while lower really very from investment calculation particularly new that think organic on is ago we programs in features, user upside us will CAC represent in around

Operator

time. further There questions at are this waiting no

back I'll call to closing over management for pass the remarks. team So the

Andrew Paradise

earnings talk future you. QX joining the thank appreciate We We'll towards will much vigilant everyone, Well, call you next you, of call. always, for QX XXXX on at we very to until then, competition. our be our thank your earnings building as support. And

Operator

That your Thank participation. concludes for call. you conference the

You may now disconnect your lines.

Skillz (SKLZ) 4 Aug 222022 Q2 Earnings call transcript