fair and want on comments pillars, key making Before we're X share our we've play strides I the matters to on our strategic related litigation made initiative. progress I review the to some significant
gaming. tenet is the of and foundation proprietary against critical As provides player. you know, is our competition a certainty that another real skill-based every matched platform player fairly of That
bots instead deceive Unfortunately, follow do ethical utilize to practices real consumers fairness against not players, bots Gaming, believe Papaya of and against opponents. companies AviaGames, as such often and we matching
and that case Studios award. settlement infringement this awarded against award, previously AviaGames. which first received years. year, $XX of of Subsequent twice Skillz cash $XX jury annually the million, We Skillz X agreement entered is $XX the reported for to into $X.X patent next million jury of of Skillz million approximately for our as We will royalty in Beginning Run receive payment AviaGames licensing a total Big jury the million for almost with settlement for April. a end payments the a
to trial its does evidence executives. is settlement shows not The bots believe our me absolutely of a consumers of the be came we Let willful fight pattern by deceit what AviaGames defraud that eliminate end clear. industry. The our that in and out AviaGames
tried mask and cucumbers by in of documents showed in of presented as referring code. to the in bots usage guides. them the presence to bots clearly AviaGames their evidence their court The internal
In the times thousands and fact, Avia's documents. word robots appeared bots of in
revealed robot, ensure comfort the different playing are match and cash and to robot they desired. robot evidence of engineered lure the paying. few evidence, on the types and Shark of specifically, just induction robot, bot More to AviaGames keep outcome them a players based bots types and created in
deployed trial on Evidence to The what money used employees they if evidence the player's give little a robot that is they when wrong. streak them shows take so-called further them were the the knew a player indicated in winning keep were to doing AviaGames too losing Comfort win is shark to was robot is presented much. a going
down."
AviaGames' Internal senior stock e-mails drives that can "The out that not that a attribute level, for how AviaGames' part members wonder dare quote, And evidence address as is this documents of perhaps that from damning, to stores. revenue is public still unsure today, most We I operating the be to is app listed believe bad of company normal these and most finance you bots." it now But showed highlighted, were our coming I bots. the and Skillz money will use as team certain said money." record. industry, the AviaGames their good is in is even "On "No concerning
will consumers' power this the bots not these in take why which do everything using help using to dishonest hard-earned stop still to bots second way, is AviaGames this company money. our are we in only practices. understand who's we is very They
our While what the the our in we case our just is the in to billions of on misrepresentation of comparison a million we're theft protect from of $XX the inducement, is big interest was believe first outright magnitude this and fraudulent daily. bucket dollars. drop is milestone, dominating far being from and but the a of fair consumers Winning shareholders, believe settlement fraud consumers to the in American is play hard-earned uphold we fight perpetrated
to bad in verdict trial already will we while subsequent and that, to the addition committed this industry. We're the prevail believe in in and from the gaming same circumstances won XXX% actors eliminating future, effort time at the settlement, similar
In use we're Papaya AviaGames, of the bots. early alleging against addition in stages the of to March fraudulent lawsuit in the filed we
class-action lawsuits and already there, note Skillz' against AviaGames that authorities, fraudulent and that also consumers. protect progress they're hopeful take note We in listening in have will filed identifying of out Papaya. action We're government take use been industry this to bots if the of
our help we industry any use uncover initiate of then actions protect we to to this fraudulent As of and intend company both consumers. bots at industry, company, our additional in proof our
to our reduce and experience. ensure companies level but been industry of playing the player commitment a rather has fair same providing where competition, goal to maintain level to a Our transparent in field all
continue until deceptive as in Creating well to better is Skillz is for fraud as future systemic usage our industry will the eliminated. Skillz. for gaming combat of our good a industry in bots consumers,
change engage note LTV by doesn't our consumer of that company in greatly legal expectations anticipate achieving business. the leading adjusted the which turnaround activities. this CAC we're to to of our for Since our to positive lamination the fraud, will we important that our on practice not benefit, also year contingent dramatically would are EBITDA late bot It's accelerate this
in is Our success by path to be initiatives. our will determined and of the achieving our control, this turnaround goal
Turning path and our now Progress developer and for up-leveling X on positioning pillars business QX. to enhancing performance the to consistent a to retention, Skillz profitability. organization, adjusted the key Skillz go-to-market EBITDA, made line initiatives for platform to top to positive engagement returning our and growth improve customer continues be in
That users of with for QX, said, will from in always and QX, our know in be time, period initiatives. is some ability near-term monetization XXXX retention, such our declining initiatives linear our take won't implemented the progress to to in paying XXXX. optimized make every quarter, evident on paying as we in where This turnaround in XXX,XXX further progress. progress quarter, not With in engagement, in masked improving challenges XXX,XXX several that QX it have We and said, our a the was QX some which we audience the particularly MAU QX. increasing
expect QX we issues actions we significantly less in is QX decline several rate performance onboarding better benefit it actions, to rate this than perform not while issues enough decline saw to our new the of did to And we from QX, XXXX In of fix took these While sequential we onboarding. quickly than customer sequential the XXXX, with did. QX.
issues and address initiatives. as to track that, our implemented April, believe back execute new continue get of improve to to on We onboarding us new and we've late the customers player improvement changes of onboarding necessary on
in the this QX fixes issues not to our onboarding time, indicates onboarding our early QX adjusted far At audience the EBITDA data decline slowed. in will stop so and do While Skillz our being have positive the issues stages, XXXX. still believe in execution we are has from we
expense time, At onetime line good with XXXX do OpEx excluding continue QX with we management, a XXXX, to job QX in QX accrual reversals. the same with
on a adjusted improved year-over-year EBITDA basis. again Our loss
CAC when traffic. metrics, optimizing is those right at And for on growing remains feel refocus focus the scaling intent to on Our levels we're and LTV. our we
on towards to our focused reducing through also areas on payback acquisition QX, a beginning returns. while We're good best where use We X-month we In channels. this on acquisition trending in both spend, spending achieved in period see the being spend. scaling we're focus user
shareholders. continue on generate believe our As we to significant we can execute turnaround unique returns for initiatives, our our platform
as the improve I first some ongoing With quarter our despite our think uneven the key first customer reflected engagement pillars, developer execution. our of about X that progress baseline retention, of enhancing platform to expectations,
product A this we is new have key in pipeline initiative for place.
one players introduced introduced higher. which continue templates we to New Match, and refine Instant tier play encouraging in to by and including we updates or which call QX performance, improve features match our XQ include to since
addition, be Live on planned In new platform. launch retention year, previewed engagement we will response, our the exciting which drive Brackets, an Brackets. feature, received to players a this games Live help which great We to later GDC, new believe a at to is strong vehicle
which also continue We refine is to user early single improving experience. the sign-on,
intend of As on to new features. of pipeline you our build the in balance look XXXX, momentum over we the
introduced we VIP-exclusive are Our focus of events to events continue best our encouraging active on and with on going continue forward. most improving X cash games and QX, popular we participation, these and experience. their most host players VIPs, our we'll to In
an maintain programming from revenue players Overall, QX, our driving VIP to QX also in GLP helped increase AI. these initiatives of
We live also to allowed in drive engagement us our look real continued time ops capabilities, and trends initiate and offers monetization. to at which enhance to
expect particularly We beneficial VIP initiatives. this our will to be
pillar, a we call, discussed in In data new product we our new our organization. finance of a the addition marketing, For optimize our resources. CFO, up-leveling FP&A. controller QX, and our new to QX and our strengthened development, as second analytics we've team the head with of continued And
I Reflecting sense our of our in into team in board, being greater Vegas our reduce together work location of can collaboration, and idea the reliance established and we collaboration term. workforce, have will continues being to one near to in by headquarters The expense benefits Vegas absorbed greater with level third-party Across Las foster of teams. to we from move sense and culture our for goals long a the contractors achieve remote want and optimism generation. a of and the accountability January by new the Bangalore-based on the continue Las that
will spend and lowest turn our focus to towards XXXX as fairly optimizing growth X-month to on go-to-market. continue third scaling approaching UA levels our and QX, level facilitate spend our our pillar, payback. we to stable, at In QX was QX UA in Moving focus spend. a on since remains consistent with
margin We Aarki, through within family. the keeps continue which pricing, better to us the provides with pricing Skillz spend transparency and
spend. for spending forward, continue maintaining growth, focus to drive discipline well we'll financial the profitable UA to areas on while work Going on that our us in
replicate We and games incubating that in a companies payback return are to time bot for difficult are line. continuing to deliver on within our fraud focus engaging to period
genres. to The we've in build scale beginning area, games specific to revised base. share with We'll developers the previously opportunities these continue in-demand agreements investment acquisition new user open high-value, for discussed complement in will and see up prioritizing to we're user to actions this
clear a encouraged I is talk little in become I'm profitability. impact QX the demonstrating our path progress which by fourth earlier, pillar, to performance, achieved Finally, we've issues a to bit the Despite about highlighted onboarding the I'll still profitable.
that optimistic on we're EBITDA generating basis on pace of to this QX adjusted in year. remain positive a achieve We our run goal rate
loss XXXX, negative expenses adjusted $XX to million. Our $XX EBITDA QX $XX negative was million related This negative QX was EBITDA and adjusted legal excluding compares XXXX. in lawsuits, million in to
Operating cash negative was in flow QX million. $X
million $XX Excluding in end April payable and EBITDA. million, the million. include in operating $XXX the cash negative cash We balance accounts in equivalents of of Avia. our QX of as adjusted ended does QX the line from with $XX And increase QX, with not received flow in was cash cash
in significant operating improvements our profitable to growth. return monthly continued to business our our we position, cash runway burn, this have cash sustainable Given
something view, to I operating and generate reiterate run late progress our value QX positive year. our gives we've trajectory plan call valuation to our our our in our a of I and want the this EBITDA turnaround on date adjusted by rate no current on highlighted platform, made to then to weight the
the closing, cautiously us, us ahead positioning with profitable strategic we X new have still the We in return onboarding are remain work that on of to growth. path pillars. even customer we're we significant to to our confident that we're against right undertaken setback actions the our In that but QX, know date execution with optimistic
I'll to Gaetano. that, over turn it with And