Quarterly ResultAug 13, 2026, 04:46 PM
Firy Q2 Revenue $31.0M; Wins $719M Papaya Gaming Judgment
AI Summary
Firy Inc. (formerly Skillz Inc.) reported its second quarter 2026 financial results, with revenue of $31.0 million and a net loss of $24.5 million. The company achieved a 6% sequential and 23% year-over-year revenue increase, driven by its RZR segment. A significant development was the court's rejection of Papaya Gaming's post-trial challenges, resulting in a $719 million judgment in disgorgement of unjust profits, plus approximately $10 million in fees and costs, which Firy intends to pursue. The company also redeemed $80 million of debt, strengthening its capital structure.
Key Highlights
- Q2 2026 Revenue: $31.0 million, up 23% year-over-year and 6% sequentially.
- Q2 2026 Net Loss: $24.5 million.
- Q2 2026 Adjusted EBITDA loss (excluding litigation expense): $2.7 million, a 63% sequential improvement.
- Court entered judgment of $719 million in disgorgement of unjust profits against Papaya Gaming, plus $10 million in fees.
- Redeemed $80 million of debt, leaving approximately $50 million outstanding.
- Paying Monthly Active Users (PMAUs): 117 thousand.
- Average Revenue per PMAU (ARPPU): $59.1.
- Federal net operating loss carryforwards of approximately $702 million.
Price Impact
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