Skillz Inc. Terminates Material Definitive Agreement

TL;DR

Skillz just terminated a big deal, could be good or bad.

AI Summary

Skillz Inc. has filed an 8-K report on August 29, 2025, to disclose the termination of a material definitive agreement. The filing does not specify the counterparty or the nature of the agreement, but it is a significant event requiring immediate disclosure.

Why It Matters

The termination of a material definitive agreement can significantly impact a company's operations, financial standing, and future strategic direction.

Risk Assessment

Risk Level: medium — Termination of a material agreement introduces uncertainty regarding the company's business relationships and financial stability.

Key Players & Entities

• Skillz Inc. (company) — Registrant
• August 29, 2025 (date) — Date of earliest event reported
• 6625 Badura Avenue (address) — Principal executive offices
• Las Vegas, Nevada 89118 (address) — Principal executive offices
• Flying Eagle Acquisition Corp. (company) — Former company name

FAQ

Key Financial Figures

• $0.0001 — stered Class A common stock, par value $0.0001 per share SKLZ NYSE Indicate by chec

Filing Documents

• sklz-20250829.htm (8-K) — 34KB
• 0001801661-25-000025.txt ( ) — 147KB
• sklz-20250829.xsd (EX-101.SCH) — 2KB
• sklz-20250829_lab.xml (EX-101.LAB) — 21KB
• sklz-20250829_pre.xml (EX-101.PRE) — 12KB
• sklz-20250829_htm.xml (XML) — 3KB

02 Termination of a Material Definitive Agreement

Item 1.02 Termination of a Material Definitive Agreement. On August 29, 2025, Skillz Inc. (the "Company") received a notice ("Notice") from Tether Studios, LLC and Tether Games, Inc. (collectively, "Tether") indicating that Tether is terminating all of its various agreements with the Company (the "Tether Agreements"), including the Company's Developer Terms and Conditions of Service, as amended from time to time, and that certain Amendment to Skillz Online Developer Terms and Conditions of Service, dated January 15, 2020 (filed as Exhibit 10.13 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2023) with such termination intended to be effective as of September 1, 2025. The Company believes the termination notice to be invalid and in breach of Tether's obligations under the Tether Agreements. Pursuant to the Tether Agreements, the Company provides Tether with a license to use the Company's Software Development Kit to provide monetization services with respect to games developed by Tether. In return, and pursuant to the Tether Agreements, the Company and Tether share revenue generated by the aggregate entry fees paid by end users. Pursuant to the Tether Agreements, either party can terminate upon written notice for convenience or for cause. Tether's Notice provides that Tether is terminating the Tether Agreements for convenience, while also asserting grounds for termination for cause (effective as of September 28, 2025) in the event its termination for convenience is not held as effective by a competent tribunal. Certain of the Tether Agreements restrict the removal of two games covered thereby, Solitaire Cube and 21 Blitz, from the Company's platform for at least 18 months following termination. During the post-termination period, Skillz has the option, but not the obligation, to host paid competitions for these games on the Company's platform. Following receipt of the Notice, on September 1, 2025, the Company filed suit in

Forward-Looking Statements

Forward-Looking Statements This Current Report on Form 8-K includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. The Company's actual results may differ from its expectations, estimates, and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "continue," and similar expressions (or the negative versions of such words or expressions) are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties that could cause the Company's actual results to differ materially from those discussed in the forward-looking statements. Most of these factors are outside of the Company's control and are difficult to predict. Factors that may cause such differences include, but are not limited to, the ability of Skillz to: sustain profitability if Skillz' revenue continues to decline; effectively compete in the global entertainment and gaming industries; attract and retain successful relationships with the third party developers who develop and update the games hosted on Skillz' platform; drive brand awareness with end users; issues in the development and use of artificial intelligence and machine learning; invest in growth and development of employees; comply with laws, regulations and expectations applicable to its business, including with respect to cybersecurity and corporate governance matters; mitigate the commercial, reputational and regulatory risks to our business; remediate during fiscal year 2025 certain non- fully remediated material weaknesses in our internal controls over financial reporting; be successful in our ongoing litigation with Voodoo SAS, Papaya Gaming

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. SKILLZ INC. By: /s/ Gaetano Franceschi Name: Gaetano Franceschi Title: Chief Financial Officer Date: September 2, 2025

View Full Filing

View this 8-K filing on SEC EDGAR