Skillz Inc. announced that Chief Financial Officer Gaetano Franceschi will remain in the role until October 1, 2026, or earlier if a permanent successor is appointed. The board of directors and compensation committee approved the extension on March 19, 2026, and the company disclosed the decision on March 23, 2026. Franceschi will receive a $300,000 retention payment and a discretionary bonus of up to $300,000 as part of the extension agreement.
The extension is intended to preserve continuity in financial leadership while the company finalizes succession planning. Skillz is concentrating on its gaming and ad‑tech businesses, and the CFO’s continued presence is viewed as a stabilizing factor amid ongoing litigation and market uncertainty. The company has not yet named an interim or permanent replacement, underscoring its focus on a smooth transition.
Financially, Skillz reported Q3 2025 revenue of $27.4 million, a net loss of $17.4 million, and an Adjusted EBITDA loss of $11.8 million. These figures compare to a $13.9 million Adjusted EBITDA loss in Q3 2024, indicating an improvement. For the full year 2024, the company posted revenue of $92.9 million, a decline of 38.94% year‑over‑year, reflecting a challenging environment for its core gaming segment.
Skillz’s revenue is primarily generated through its Skillz segment, with the Aarki ad‑tech segment contributing a smaller portion. The company’s earnings release highlighted that the Skillz segment remains the dominant source of revenue, while Aarki continues to grow as the platform expands its advertising capabilities.
CEO Andrew Paradise emphasized that the company is making progress toward consistent top‑line growth and positive Adjusted EBITDA. He noted that Q3 2025 results reflected 11% year‑over‑year revenue growth and 28% growth in paying monthly active users, driven by stronger engagement on both the platform and the Aarki engine. Paradise also highlighted strategic initiatives such as the acquisition of Beamable’s technology, the launch of a $75 million Developer Accelerator program, and the upcoming debut of the Pro SDK at GDC 2026.
Skillz is also navigating significant litigation, including an $80 million settlement of a patent infringement case against AviaGames, a fraud lawsuit against Papaya Gaming that is proceeding to trial, and a $10 million settlement of a class‑action lawsuit related to its merger with Flying Eagle Acquisition Corp. The company has filed a lawsuit against Tether Studios after the latter announced plans to terminate agreements. These legal matters add complexity to the company’s operating environment, reinforcing the need for stable financial leadership during the transition.
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