
	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Cost of revenue	$	—	$	—	$	—	$	3
Research and development	503		250		641		499
Sales and marketing	286		690		647		1,872
General and administrative	6,230		3,422		8,488		7,538
Total stock-based compensation expense	$	7,019	$	4,362	$	9,776	$	9,912

During the three and six months ended June 30, 2026, no stock-based compensation expense was capitalized as internally developed software and included in property and equipment, net. During the three and six months ended June 30, 2025 an immaterial amount and $0.1 million of stock-based compensation expense was capitalized as internally developed software and included in property and equipment, net, respectively.


	Options Outstanding					Restricted Stock Outstanding
	Number of Shares Outstanding Under the Plan	Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value	Number of Plan Shares Outstanding	Weighted-Average Grant Date Fair Value per Share
Balance at December 31, 2025	676,704	$	314.72	4.96	9	1,310,546	$	10.51
Granted	—	—				264,526	—
Exercised or vested	(7,002)	3.00				(582,663)	5.57
Cancelled, forfeited or expired	(448)	12.85				(38,332)	6.13
Balance at June 30, 2026	669,254	$	318.19	4.46	135	954,077	$	10.79

During the three months ended June 30, 2026, the Compensation Committee of the Board (the “Compensation Committee”) approved performance stock unit awards to the Company's Chief Executive Officer under the Skillz Inc. 2020 Omnibus Incentive Plan, with the number of Performance Stock Units equal to $3.0 million divided by the 90-calendar day volume-weighted average price (“VWAP”) for the Company’s Class A Common Stock as of the trading day prior to January 1, 2025 (the “Target Award”). From 0% to a maximum of 200% of the Target Award (the “Maximum Award”) may be earned based on

the achievement of stock price milestones. Each Performance Stock Unit is a notional amount that represents the right to receive one (1) share of Class A Common Stock of the Company (a “Share”), subject to the terms and conditions of the Skillz Inc. 2020 Omnibus Plan and applicable award agreement, if and when the Performance Stock Unit vests. The awards vest, if at all, in eight tranches upon the 30-trading-day VWAP for the Class A Common Stock share price equaling or exceeding specified milestones ranging from $9.00 to $19.00, subject to continued service and Compensation Committee certification.

During the three months ended June 30, 2026, the Compensation Committee also approved a long-term incentive award to the Company's Chief Executive Officer with (i) the number of Restricted Stock Units equal to $1.5 million divided by the 90-calendar day volume-weighted average price for the Company’s Class A Common Stock as of the trading day prior to January 1, 2025 (the “90-day VWAP”) and (ii) the number of Performance Stock Units equal to $1.5 million divided by the 90-day VWAP (collectively, the “Stock Units”). Each Stock Unit is a notional amount that represents the right to receive one (1) Share of Class A Common Stock of the Company, subject to the terms and conditions of the Omnibus Plan and this Agreement, if and when the Stock Unit vests. The Restricted Stock Units vest in twelve substantially equal quarterly installments measured from January 1, 2025. The Performance Stock Units are earned based on Net Gaming Revenue (50% weighting) and Adjusted EBITDA (50% weighting) measured against goals established by the Compensation Committee for each year of the performance periods ending December 31, 2026 and 2027, respectively, with payout ranging from 0% to 200% of target. In light of the performance goals being established separately for each year, each year's goals establish a separate grant date and measurement date for the related portion of the award.