Business Combination (Tables)

3 Months Ended

Mar. 31, 2022

Business Combinations [Abstract]

Schedule of Business Combination

The following table summarizes the fair value of the purchase price to acquire Aarki:

Description	Amount
Cash	$	95,296
Common stock issued (1)	67,051
Total purchase price	$	162,347

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(1) The fair value of the Skillz Class A Common Stock issued in the merger was based on 4,401,663 shares issued on the July 16, 2021 acquisition date at the closing price of the Company’s common stock on such date of $15.23 per share.

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following is an allocation of the purchase price as of July 16, 2021, the acquisition closing date, based on an estimate of the fair value of the assets acquired and liabilities assumed by the Company in the acquisition:

Description	Amount
Cash and cash equivalents	$	11,309
Accounts receivable, net	13,700
Prepaid expenses and other current assets	356
Property, plant and equipment, net	5,075
Intangible assets, net	86,800
Other long-term assets	91
Accounts payable	(445)
Accrued professional fees	(3,145)
Other current liabilities	(16,471)
Deferred tax liabilities	(20,075)
Other long-term liabilities	(1,693)
Identifiable net assets acquired	75,502
Goodwill	86,845
Total purchase price	$	162,347

Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination

The following is a summary of identifiable intangible assets acquired and their expected lives as of the acquisition closing date:

Type	Weighted-average useful life (in years)	Fair Value
Developed technology	8	$	60,400
Customer relationships	3	26,200
Trademark and trade name	0.3	200
Total identifiable intangible assets acquired		$	86,800

Schedule of Goodwill

The following table presents details of changes to the Company’s goodwill balance for the three months ended March 31, 2022:

	Goodwill
Balance at December 31, 2021	$	86,845
Goodwill adjustment	(409)
Balance as of March 31, 2022	$	86,436