Firy Inc. — Form 8-K
Filed August 13, 2026 · analyzed by the 8-K Agent
8-K
— Neutral
significance 38/100
What the filing says
Firy Inc. (formerly Skillz) reported Q2 2026 revenue of $31.0M (+23% YoY, +6% QoQ) with net loss of $24.5M. RZR division exceeded $10M quarterly revenue for first time and achieved fourth consecutive profitable quarter. Court awarded company $719M in disgorgement against Papaya Gaming plus ~$10M in fees; Papaya filed Chapter 15 in Delaware. Company redeemed $80M of debt in August, leaving ~$50M outstanding; CFO cited $702M federal NOL carryforwards and $280M state NOL carryforwards as unrecognized value.
Why this rating
Debt reduction and litigation win are positive; persistent $24.5M quarterly loss and declining PMAUs (117K vs 146K YoY) are concerning. Net $719M judgment uncollectable if Papaya remains insolvent abroad.
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