Skillz Inc. (NYSE:SKLZ) Q4 2023 Earnings Call Transcript

They really don’t have any of the same sheeting fraud, payment and fulfillment issues that are important issues and things that we had to solve to build this platform. So I think — I’m a little long-winded here, but I do think it’s really important to drive awareness of this. It’s something that every investor or a prospective investor on this call, just by letting them know about this happening in their industry, it’s already helping change the future of the industry. And to give you an idea of how big this is. We estimate that bot-driven fraud is over $1 billion now in the U.S. So it’s very, very sizable. And it doesn’t just deprive our business from being able to acquire those players. It’s driving up the customer acquisition cost across the industry because confusingly some of our products are being marketed to the same audience.

It’s obviously — it’s creating trust issues for other players where they’ve been defrauded, and they’re now potentially in that cost action lawsuit against one of these companies. So yes, I can’t say enough how much how much it’s impacting the industry and how important it is for us all to think about now over $1 billion of fraud and growing.

Clark Lampen: Thank you.

Operator: And we have no further questions in the queue today, so I’d like to hand back to Andrew Paradise for any closing remarks.

Andrew Paradise: Well I just want to thank everyone for joining us today. I know we have historically been fielding just analyst questions. We’re going to start to engage much more deeply with our investor audience in the next few quarters as we finish our turnaround. I look forward very much to providing you with an update on our progress as we return Skillz to sustained and profitable growth, and we look forward to speaking with you again when we report our first quarter results. Until then, thank you.

Operator: This concludes today’s call. Thank you all for joining. You may now disconnect your lines.