Be Sure To Let Us Know Which Ones Were Your Favorites In The Comments Below
Nothing beats a three-day weekend, as that extra day really helps you recharge your batteries for the coming work week. Unfortunately, Labor Day can’t last forever, meaning we’ve all got to go back to the grind. Thankfully, there are plenty of gaming memes across the internet to help keep us company.
Whether it is Skyrim, Call of Duty, or Animal Crossing, there is sure to be at least one great gaming meme in here that’ll brighten up your day. So sit back, relax, and enjoy all of the hilarious gaming memes we found from across the internet last week.
Also, don’t hesitate to leave any other great memes that we may have missed down there to help make us all laugh.
I do agree that Skillz has disappointed investors. The stock has also been punished in line with weak growth metrics. However, after a downside of 50% in the last six months, the stock seems attractive. Importantly, it’s too early to assume that Skillz is unlikely to gain business growth traction. If that happens in the next few quarters, a sharp rally seems likely.
It’s also worth noting that the casino and online gambling industry has witnessed merger and acquisitions. CTFN recently suggested that Skillz might be among the potential names in the merger and acquisition radar. This is another factor that can serve as a catalyst for SKLZ stock.
For the second quarter, Skillz reported revenue of $89.5 million. On a year-on-year basis, revenue growth was healthy at 52%. Further, the company reported average revenue per user of $12.46. For the prior comparable period, average revenue per user was $7.49. Clearly, monetization has been robust.
However, the key concern for Skillz is user growth. For second quarter, the company’s monthly active users were 2.4 million, which was lower by 6% from the previous year. This was offset by the fact that paying monthly active users increased by 53% to 463,000.
Even with growth in average revenue per user, stock upside is unlikely until there is meaningful growth in monthly average users. I believe that there are few factors that can serve as catalysts for user growth.
First and foremost, Skillz has plans to enter Gaming Meme India later this year. The country has a big addressable market with strong growth in smartphone users. Healthy growth seems likely in active users if Skillz can penetrate the market.
Furthermore, Skillz acquired Aarki in the last quarter. The demand-side platform has more than 465 million monthly active users. This merger is likely to help in accelerating Skillz user base.
Skillz formed a strategic alliance with Exit Games in the second quarter. The partnership will allow the company to use Exit Games technology to host real-time, synchronous, multiplayer games.
Clearly, the company is making efforts towards broadening the scope of engagement and accelerating user growth. Besides entry into India, Skillz also has plans for other international markets. The company believes that the total addressable global market for mobile gaming is $86 billion. It might therefore be too early to write-off SKLZ stock as a meme stock.