The company's financial leverage has increased significantly, with the debt-to-equity ratio rising from 0.65 in 2023Q4 to 1.26 in 2026Q1, reflecting a reliance on external financing amidst a shrinking equity base.
| Total Current Assets | 209.1M | 216.48M | 294.4M | 314.69M | 501.68M | 589.86M | 273.22M | 35.09M | 24.78M |
| Cash & Short-Term Investments | 185.4M | 194.51M | 281.92M | 302.03M | 489.78M | 560.39M | 262.73M | 25.63M | 22.54M |
| Cash Only | 185.4M | 194.51M | 281.92M | 302.03M | 362.52M | 241.33M | 262.73M | 25.63M | 22.54M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 127.27M | 319.06M | 0 | 0 | 0 |
| Accounts Receivable | 16.06M | 14.41M | 4.89M | 5.94M | 7.18M | 12.77M | 0 | 0 | 0 |
| Days Sales Outstanding | 44.08 | 50.34 | 18.7 | 14.26 | 9.71 | 12.26 | - | - | - |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | - |
| Other Current Assets | 2.54M | 7.55M | 7.59M | 1.36M | 1.49M | 1.5M | 865K | 7M | 1.79M |
| Total Non-Current Assets | 78.25M | 76.98M | 69.77M | 81.14M | 119.61M | 431.26M | 9.2M | 3.76M | 1.25M |
| Property, Plant & Equipment | 21.9M | 21.86M | 16.25M | 14.55M | 3.46M | 24.5M | 5.29M | 3.65M | 1.17M |
| Fixed Asset Turnover | 5.32x | 4.78x | 5.88x | 10.45x | 77.88x | 15.52x | 43.28x | 32.86x | 43.29x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 85.87M | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 79.14M | 0 | 0 | 0 |
| Long-Term Investments | 212.07M | 52.77M | 52.77M | 53.89M | 112.38M | 238.28M | 0 | 0 | 0 |
| Other Non-Current Assets | 2.58M | 2.35M | 755K | 12.69M | 3.77M | 3.48M | 3.91M | 116K | 79K |
| Total Assets | 287.35M | 293.45M | 364.17M | 395.83M | 621.29M | 1.02B | 282.42M | 38.86M | 26.03M |
| Asset Turnover | 0.37x | 0.36x | 0.26x | 0.38x | 0.43x | 0.37x | 0.81x | 3.09x | 1.95x |
| Asset Growth % | -81.26% | -19.42% | -8% | -36.29% | -39.16% | 261.56% | 626.84% | 49.28% | - |
| Total Current Liabilities | 184.33M | 180.71M | 57.25M | 49.86M | 49.49M | 99.82M | 47.36M | 10.48M | 10.21M |
| Accounts Payable | 8.61M | 9.71M | 9.8M | 1.71M | 1.7M | 19.75M | 22.04M | 2.94M | 3M |
| Days Payables Outstanding | 233.06 | 271.67 | 266.76 | 40.63 | 20.15 | 285.62 | 655.01 | 188.09 | 518.12 |
| Short-Term Debt | 128.53M | 128.05M | 1.54M | 0 | 0 | 0 | 0 | 0 | 875K |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 41.49M | 30.31M | 45.91M | 9.56M | 13.97M | 24.39M | 6.61M | 1.96M | 4.28M |
| Current Ratio | 1.13x | 1.20x | 5.14x | 6.31x | 10.14x | 5.91x | 5.77x | 3.35x | 2.43x |
| Quick Ratio | 1.13x | 1.20x | 5.14x | 6.31x | 10.14x | 5.91x | 5.77x | 3.35x | 2.43x |
| Cash Conversion Cycle | -188.98 | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 807K | 924K | 135.32M | 135.48M | 293.4M | 312.15M | 178.28M | 9.71M | 14.74M |
| Long-Term Debt | 0 | 665K | 125.65M | 123.94M | 272.78M | 278.89M | 0 | 9.63M | 14.74M |
| Capital Lease Obligations | 1.99M | 0 | 9.34M | 10.57M | 11.94M | 13.57M | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 260K | 259K | 333K | 971K | 8.68M | 19.69M | 178.28M | 82K | 0 |
| Total Liabilities | 185.13M | 181.63M | 192.58M | 185.34M | 342.89M | 411.96M | 225.63M | 20.19M | 24.95M |
| Total Debt | 129.08M | 128.72M | 136.54M | 136.7M | 288.38M | 297.01M | 0 | 9.63M | 15.62M |
| Net Debt | -56.33M | -65.79M | -145.39M | -165.32M | -74.14M | 55.68M | -262.73M | -16M | -6.92M |
| Debt / Equity | 1.26x | 1.15x | 0.80x | 0.65x | 1.04x | 0.49x | - | 0.52x | 14.51x |
| Debt / EBITDA | -1.99x | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 0.87x | - | - | - | - | - | - | - | - |
| Interest Coverage | -5.45x | -3.61x | -6.25x | -34.46x | -15.55x | -168.45x | -111.43x | -8.45x | -11.68x |
| Total Equity | 102.21M | 111.82M | 171.59M | 210.49M | 278.4M | 609.16M | 56.79M | 18.66M | 1.08M |
| Equity Growth % | -141.19% | -34.83% | -18.48% | -24.39% | -54.3% | 972.71% | 204.24% | 1634.67% | - |
| Book Value per Share | 6.46 | 7.17 | 9.62 | 10.07 | 13.58 | 31.36 | 3.07 | 1.29 | 0.16 |
| Total Shareholders' Equity | 102.21M | 111.82M | 171.59M | 210.49M | 278.4M | 609.16M | 56.79M | 18.66M | 1.08M |
| Common Stock | 1K | 1K | 1K | 1K | 1K | 40K | 37K | 29K | 1K |
| Retained Earnings | -1.1B | -1.09B | -1.02B | -974.47M | -873.11M | -434.23M | -238.31M | -90.26M | -78.54M |
| Treasury Stock | -41.61M | -41.61M | -32.35M | -13M | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -1.3M | -371K | 0 | -7K | -1.56M | -248K | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Regulatory reclassification of gaming
According to reported financial statements, Skillz's total assets have declined from $395.8M in 2023Q4 to $287.3M in 2026Q1, signaling a persistent contraction in the company's resource base as it attempts to navigate a challenging transition toward operational sustainability amidst ongoing revenue volatility.
The consistent reduction in total assets suggests that the company is shrinking its footprint rather than scaling, likely as a defensive measure to preserve liquidity. Investors should monitor whether this trend represents a necessary rightsizing or a loss of competitive momentum in the mobile gaming market.
Based on the company's reported figures, the debt-to-equity ratio has climbed from 0.65 in 2023Q4 to 1.26 in 2026Q1, indicating that the company's reliance on debt financing is increasing relative to its shrinking equity base as it continues to fund operations through external obligations.
While the absolute debt level remains relatively stable, the rising D/E ratio highlights a deteriorating capital structure that may limit future financial flexibility. This trend warrants further investigation into the company's ability to service these obligations if cash burn persists at current levels.
As reported in recent SEC filings, the current ratio has deteriorated sharply from 6.51 in 2023Q4 to 1.13 in 2026Q1, suggesting that the company's immediate ability to cover short-term liabilities is narrowing rapidly as cash reserves are depleted to support ongoing operational requirements.
The rapid decline in the current ratio indicates that the margin of safety for short-term obligations is becoming increasingly thin. This suggests that the company may face heightened liquidity risks if it cannot achieve a sustainable cash-flow-positive state in the near term.
Data from financial statements reveals that retained earnings have remained deeply negative at approximately -$1.1B through 2026Q1, reflecting the cumulative impact of persistent operating losses that continue to erode the company's book value and overall shareholder equity position over time.
The persistent negative retained earnings highlight a fundamental struggle to generate profitable growth, which may continue to weigh on the company's valuation. Investors should consider whether the current equity base can support the business through a prolonged period of operational restructuring.
Based on reported figures, the absence of goodwill and minimal PPE net values suggest that the company's balance sheet is largely composed of liquid assets, which may mask the underlying risk that the platform's primary value is tied to intangible regulatory and user-base factors.
While the lack of goodwill avoids the risk of future impairment charges, it also implies that the company's value is highly sensitive to the continued viability of its 'skill-based' gaming model. This makes the balance sheet potentially misleading, as it does not reflect the significant operational risks inherent in the business model.
Quick answers to the most common questions about buying SKLZ stock.
As of 2025, Skillz Inc. (SKLZ) had total assets of $293.5M including $216.5M in current assets.
Skillz Inc. (SKLZ) carries total debt of $128.7M, offset by $194.5M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Skillz Inc. (SKLZ) has total shareholders' equity (book value) of $111.8M ($7.17 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Skillz Inc. (SKLZ) reported a current ratio of 1.20x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.