Skillz

Skillz’s stock surged after a Manhattan jury found Papaya Gaming liable for misleading advertising and ordered $420 million in damages. The jury also awarded a disgorgement claim of $652 million; Judge Denise Cote is expected to rule on that amount in early June. In afternoon trading the stock rose as much as 443% to $20, but closed about 200% higher at roughly $11. The trial in the U.S. District Court for the Southern District of New York lasted one week and the jury deliberated just over two days; the central allegation was Papaya’s use of bots in games and tournaments. » More on de.investing.com

Skillz has set its 2026 annual meeting as a virtual meeting for June 18, 2026. Access information, voting procedures and submission processes will be published in the final proxy statement filed with the SEC. Shareholders must submit proposals or nominees in writing by April 24, 2026; previously, Skillz reported strong Q4 2025 results, which prompted positive reactions in the stock. » More on de.investing.com

Skillz generated GAAP revenue of $30 million in Q4 2025, up 11% sequentially and 67% year over year. The adjusted EBITDA loss narrowed to $10 million (prior quarter: $12 million), and the net loss fell to $18 million, a 27% improvement year over year. The RZR segment was the driver, with net revenue growth of 146% year over year; the stock rose 6.18% in after-hours trading. For 2026 management provided no concrete numeric guidance but emphasized a focus on platform engagement, monetization and profitability; risks remain from developer concentration and pending litigation. » More on de.investing.com