Flying eagle

I added a position in $FEAC to my SIPP a few weeks ago.

“We’re building out the competition layer of the internet.

Thinking about the potential makes my head spin.

“Skillz provides a platform to turn any mobile game on iOS and Android into one you can play with friends or strangers for cash, prizes, or points. And it enables esports tournaments for games that integrate its platform.”

“Everyone wants to compete, right? And that was the premise of the company, the one simple belief,” Paradise said. “We’re building out the competition layer of the internet. Everyone everywhere wants to unleash their inner champion in competition. We’re really excited about this next milestone.”

FEAC will acquire Skillz through a SPAC, at which point the public shell company will essentially become Skillz.

Third Quarter Financial Highlights 2020

  • Revenue grew 92% to $60.0 million during the third quarter of 2020, compared with $31.2 million during the comparable quarter in 2019 and the 19th consecutive quarter of sequential revenue growth.
  • Gross profit grew 92% to $56.9 million during the third quarter of 2020, compared with $29.6 million during the comparable quarter in 2019.
  • Gross margin was 95% during the third quarter of 2020, the same as during the comparable quarter in 2019.
  • Contribution grew 177% to $19.1 million during the third quarter of 2020, compared with $6.9 million during the comparable quarter in 2019.
  • Net loss was $(42.9) million during the third quarter of 2020, compared with a net loss of $(5.0) million during the comparable quarter in 2019.
  • Gross Marketplace Volume1 (“GMV”) grew 76% to $411 million during the third quarter of 2020, compared with $234 million during the comparable quarter in 2019.

Massive growth.

Massive margins.

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