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  "documentTitle": "Skillz, Inc. (SKLZ)",
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  "presentationDate": "2021-03-08 00:00:00",
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  "notes": "The slide uses a 'company favorable' assumption model to demonstrate that even under best-case scenarios, the core business is declining.",
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      "text": "After all, what are the chances any sell-side analyst actually challenges management on its 2021 projections on SKLZ's Q4 2020 earnings call on Wednesday, March 10, 2021?",
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      "text": "However, after subtracting Blackout Bingo’s revenue from the top three games’ total revenue, we estimate that Tether’s top two games sequentially declined by -5.9% sequentially in Q3 2020.",
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      "text": "sequential revenue change: -5.9%",
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      "text": "We conclude that Skillz's top developers' top two games began to decline just in time for SKLZ to go public. Instead of being transparent, it appears Skillz hid this growth problem deep in its disclosures.",
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