Skillz Inc Q2 2022 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Bradley D. Erickson - RBC Capital Markets, Research Division - Analyst : I guess first is on the path to profitability, maybe setting aside the cheating commentary and all that. Can you just talk about some of the new products or maybe characteristics even if new products you're working on where you think you can drive this better retention over time?

Question: Bradley D. Erickson - RBC Capital Markets, Research Division - Analyst : Yes. Got it. And then maybe a question for Ian. Ian, I think the filing isn't out yet, but I guess you guys spend every quarter with maybe $4 million or $5 million on the balance sheet of customer funds? And then I think it's something like 80% or so of the GMV comes from existing customer accounts. So I guess that implies the customer balances turnover like something like 100-plus times a quarter. Can you explain how that works, how that math works, anything we may have wrong in there?

Question: Bradley D. Erickson - RBC Capital Markets, Research Division - Analyst : Got it. That's helpful. And then maybe 1 follow-up, and I apologize I jumped on the call late. I missed some of Andrew's opening comments, but on this cheating issue, I guess can we take any part of the guidance reduction as a proxy for how much of the business that represented? And I guess maybe percentage-wise, sort of how far are we do you think through this, call it, a cleansing process and when you think that might be completed. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. AUGUST 03, 2022 / 9:30PM, SKLZ.N - Q2 2022 Skillz Inc Earnings Call