Skillz Inc.

Firy Inc. announced the completion of the sale of its entire equity stake in Exit Games GmbH, representing approximately 10.5% of Exit Games' outstanding share capital, back to Exit Games for a total cash consideration of $55 million. The transaction, which closed on October 2, 2026, yielded a fully realized cash return of approximately 1.1x Firy's original $50 million investment made in July 2021. This return significantly outperforms the average 2021-vintage US venture capital fund, which had distributed only 0.05x of paid-in capital at its five-year mark.

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.

Firy Inc. (formerly Skillz Inc.) announced a partial redemption of $80.0 million in aggregate principal amount of its 10.250% Secured Notes due 2026. The redemption will take place on August 14, 2026, at a price of 100.000% of the principal amount plus accrued interest. As of August 4, 2026, $129,671,000 in principal amount of the Notes remained outstanding.

Firy Inc. announced that a U.S. District Court judge ordered Papaya Gaming to pay $719 million in disgorgement of unjust profits to its wholly-owned subsidiary, Skillz Platform Inc. This award, stemming from a 2024 false advertising lawsuit, also includes attorney's fees and costs. The $719 million judgment is nearly $300 million more than the $420 million in actual damages initially awarded by a jury in April 2026. Firy Inc. plans to aggressively pursue collection, though timing and amount of recovery are subject to appeal.

Skillz Inc. has officially changed its corporate name to Firy Inc., effective June 18, 2026. Concurrently, the company's Class A common stock will transition its trading symbol on the New York Stock Exchange from "SKLZ" to "FIRY", expected to be effective on June 22, 2026. This name change did not require stockholder approval and will not impact the rights of the company's stockholders or its CUSIP number. The Board of Directors also approved updated bylaws to reflect the new corporate name.

Skillz Inc. announced its corporate name change to Firy Inc. effective June 18, 2026, coinciding with its 2026 annual meeting where an investor presentation will be shared. The company, now Firy, outlined a vision for an AI-powered full-stack ad-tech and social network for games, projecting revenue to more than double from 2025 to 2028 with increasing annual cash generation. This rebranding follows a period of financial discipline, including a significant improvement in Adjusted EBITDA and strong gross margins.

Skillz Inc. announced its intention to change its corporate name to "Firy Inc." effective June 18, 2026. The company's Class A common stock is expected to begin trading under the new ticker symbol "FIRY" on the New York Stock Exchange starting June 22, 2026. Existing stockholders are not required to take any action, and the CUSIP will remain unchanged. In connection with the rebrand, the company also released limited information on its reorganized business segments.

Skillz Inc. has announced the appointment of Robert Alex Walsh as its new Chief Financial Officer, effective July 13, 2026. Mr. Walsh, previously CFO of Aristocrat Gaming, will receive an annual base salary of $450,000, along with target incentive compensation and equity awards totaling $400,000 in grant date value for RSUs and PSUs. He succeeds Gaetano Franceschi, who will transition to an advisory role until September 30, 2026, to ensure a smooth handover.

Skillz Inc. reported a significant increase in revenue for the first quarter of 2026, reaching $29.11 million, up from $21.90 million in the prior year. The company also narrowed its net loss to $(10.95) million, an improvement from $(17.14) million in Q1 2025. Additionally, its Aarki business rebranded to RZR, and the company recognized a $7.5 million gain from litigation settlement.

Skillz Inc. announced its Q1 2026 financial results, reporting revenue of $29.1 million and a net loss of $10.9 million, an improvement from the prior year. The company also disclosed a significant legal victory, with a federal jury awarding Skillz $420 million in actual damages against Papaya Gaming for false advertising, with a potential total award up to $1.2 billion. Skillz reported stronger fundamentals, including a 15% quarter-over-quarter improvement in adjusted EBITDA (excluding litigation expenses) and RZR's third consecutive quarter of profitability, ending the quarter with $185 million in cash.