Firy Inc. (FIRY) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 13, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 19, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the FIRY SEC filings page.
Firy Inc. (FIRY) reported $117.5M in revenue over the twelve months to Jun 30, 2026, up 31.3% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 8 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
FIRY’s high gross margins do not cover its operating structure, while financing has shifted toward near-term liabilities.
In FY2024, operating cash flow of-$7.1M nearly matched free cash flow of-$7.7M , but FY2025 produced operating cash flow of-$68.9M against free cash flow of-$70.3M . The close relationship between the two measures indicates that cash strain came primarily from operations, not unusually heavy reinvestment.
FY2025’s
Long-term debt fell to
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Firy Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Firy Inc. held $194.5M in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations used $68.9M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and Firy Inc. scores 58/100 among other emerging companies.
Not available for Firy Inc., and counted as zero in the overall score.
Firy Inc. spent $20.6M on research and development in fiscal year 2025, which was 12.2% of its operating costs that year. R&D Intensity ranks emerging companies on the share of operating costs that goes into research, and Firy Inc. scores 40/100 among other emerging companies.
Firy Inc. reported revenue of $104.5M in fiscal year 2025, against $92.9M in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and Firy Inc. scores 22/100 among other emerging companies.
Firy Inc.'s operations used $68.9M of cash in fiscal year 2025, against $7.1M used in fiscal year 2024. Burn Trend ranks emerging companies on which way that figure has moved over three years, and Firy Inc. scores 48/100 among other emerging companies.
Firy Inc.'s cash, cash equivalents and investments came to $194.5M at the end of fiscal year 2025, against $181.6M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and Firy Inc. scores 60/100 among other emerging companies.
Firy Inc. scores -4.74, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($206.3M) relative to total liabilities ($181.6M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Firy Inc. passes 4 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 1 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.
Firy Inc. reported a net loss of $70.4M while operations used $68.9M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Firy Inc. reported an operating loss of $63.9M against $15.2M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Firy Inc. generated $31.0M in revenue in Q2 2026. This represents an increase of 22.9% from the same quarter a year earlier. Against the prior quarter it is up 6.5%.
Firy Inc.'s EBITDA was -$20.6M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 30.3% from the same quarter a year earlier. Against the prior quarter it is down 156.1%.
Firy Inc. reported -$24.5M in net income in Q2 2026. This represents a decrease of 36.6% from the same quarter a year earlier. Against the prior quarter it is down 123.6%.
Firy Inc. earned -$1.52 per diluted share (EPS) in Q2 2026. This represents a decrease of 31.0% from the same quarter a year earlier. Against the prior quarter it is down 120.3%.
Cash & Balance Sheet
Firy Inc. recorded an outflow of $18.2M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents an increase of 15.2% from the same quarter a year earlier. Against the prior quarter it is down 156.3%.
Firy Inc. held $164.0M in cash against $0 in long-term debt as of Q2 2026, with $183.9M of liabilities due within a year.
Not reported for Q2 2026.
Margins & Returns
Firy Inc.'s gross margin was 87.4% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is up 0.2 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.3 percentage points.
Firy Inc.'s operating margin was -69.6% in Q2 2026, reflecting core business profitability. This is down 6.2 percentage points from the same quarter a year earlier. Against the prior quarter it is down 39.5 percentage points.
Firy Inc.'s net profit margin was -79.0% in Q2 2026, showing the share of revenue converted to profit. This is down 7.9 percentage points from the same quarter a year earlier. Against the prior quarter it is down 41.4 percentage points.
Firy Inc.'s ROE was -29.0% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 16.2 percentage points from the same quarter a year earlier. Against the prior quarter it is down 18.3 percentage points.
Capital Allocation
Firy Inc. invested $6.9M in research and development in Q2 2026. This represents an increase of 42.3% from the same quarter a year earlier. Against the prior quarter it is up 36.0%.
Firy Inc. repurchased no shares in Q2 2026. This represents a decrease of 100.0% from the same quarter a year earlier.
Firy Inc. invested $281K in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 56.6% from the same quarter a year earlier. Against the prior quarter it is down 22.6%.
FIRY Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $31.0M+22.9% | $29.1M+32.9% | $30.0M+68.9% | $27.4M+11.4% | $25.2M-0.3% | $21.9M-13.2% | $17.8M-42.9% | $24.6M-32.6% |
| Cost of Revenue | $3.9M+21.5% | $3.6M+21.3% | $3.5M+8.5% | $3.4M-0.5% | $3.2M-3.8% | $3.0M-14.1% | $3.2M-6.3% | $3.4M-8.7% |
| Gross Profit | $27.1M+23.1% | $25.5M+34.7% | $26.5M+82.3% | $24.0M+13.3% | $22.0M+0.2% | $18.9M-13.1% | $14.5M-47.4% | $21.2M-35.3% |
| R&D Expenses | $6.9M+42.3% | $5.1M+5.1% | $5.5M+77.5% | $5.4M+14.8% | $4.8M+13.3% | $4.8M+4.2% | $3.1M-8.3% | $4.7M-39.6% |
| SG&A Expenses | $28.2M+68.6% | $19.4M+1.7% | $17.9M-12.7% | $17.5M-3.7% | $16.7M-3.1% | $19.1M-17.2% | $20.4M+12.8% | $18.1M-25.6% |
| Operating Income | -$21.6M-34.9% | -$8.8M+43.4% | -$16.2M+33.2% | -$16.3M+22.5% | -$16.0M-162.5% | -$15.5M+42.4% | -$24.2M-18.0% | -$21.0M+33.2% |
| EBITDA | -$20.6M-30.3% | -$8.0M+47.5% | -$15.4M+35.2% | -$16.0M+22.1% | -$15.8M-160.7% | -$15.3M+42.2% | -$23.8M-16.2% | -$20.6M+33.4% |
| Interest Expense | $3.9M+1.4% | $3.8M+1.3% | $3.8M+1.1% | $3.8M+1.2% | $3.8M+0.8% | $3.8M+0.6% | $3.8M-54.5% | $3.8M+65.5% |
| Income Tax | $96K+605.3% | $74K+89.7% | $48K+162.3% | $40K+25.0% | -$19K-126.0% | $39K+2.6% | -$77K-263.8% | $32K+255.6% |
| Net Income | -$24.5M-36.6% | -$10.9M+36.2% | -$17.9M+28.4% | -$17.4M+17.4% | -$17.9M-168.8% | -$17.1M+35.9% | -$25.0M-61.1% | -$21.1M+37.1% |
| EPS (Basic) | -$1.52-31.0% | -$0.69+34.3% | -$1.16+17.1% | -$1.14+5.0% | -$1.16-178.9% | -$1.05+27.6% | -$1.40-75.0% | -$1.20+23.6% |
| EPS (Diluted) | -$1.52-31.0% | -$0.69+34.3% | -$1.16+17.1% | -$1.14+5.0% | -$1.16-180.6% | -$1.05+27.6% | -$1.40-75.0% | -$1.20+23.6% |
| Diluted Shares (Avg) | 16M+3.8% | 16M-2.8% | N/A | 15M-12.7% | 15M-14.3% | 16M-11.8% | N/A | 18M-17.7% |
FIRY Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $271.7M-17.2% | $287.3M-20.2% | $293.5M-21.6% | $309.2M-20.7% | $328.2M-18.5% | $359.9M-5.9% | $374.3M-5.4% | $390.2M-8.9% |
| Current Assets | $189.0M-25.7% | $209.1M-27.3% | $216.5M-28.6% | $233.1M-27.6% | $254.2M-24.1% | $287.5M-7.8% | $303.2M-3.7% | $321.8M-8.2% |
| Cash & Equivalents | $164.0M-28.3% | $185.4M-27.1% | $194.5M-28.5% | $211.8M-29.7% | $228.7M-27.7% | $254.3M-12.5% | $271.9M-10.0% | $301.4M-8.7% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0-100.0% |
| Accounts Receivable | $18.7M+108.2% | $16.1M+97.7% | $14.4M+194.7% | $14.3M+170.6% | $9.0M+112.6% | $8.1M+59.4% | $4.9M-17.7% | $5.3M-43.1% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0-100.0% | $0-100.0% | $0-100.0% |
| Total Liabilities | $187.2M-0.3% | $185.1M-8.8% | $181.6M-9.7% | $182.1M-4.5% | $187.9M+0.1% | $203.1M+3.2% | $201.2M+8.6% | $190.7M-4.8% |
| Current Liabilities | $183.9M+201.7% | $184.3M+172.2% | $180.7M+174.2% | $53.9M-2.9% | $60.9M+16.2% | $67.7M+10.1% | $65.9M+32.2% | $55.5M-14.3% |
| Non-Current Liabilities | $3.4M-97.3% | $807K-99.4% | $924K-99.3% | $128.1M-5.2% | $126.9M-6.1% | $135.4M0.0% | $135.3M-0.1% | $135.2M-0.3% |
| Long-Term Debt | $0-100.0% | $0-100.0% | $0-100.0% | $127.1M+1.5% | $126.6M+1.5% | $126.1M+1.4% | $125.7M+1.4% | $125.2M+1.4% |
| Total Equity | $84.5M-39.8% | $102.2M-34.8% | $111.8M-35.4% | $127.2M-36.2% | $140.3M-34.8% | $156.8M-15.5% | $173.0M-17.8% | $199.5M-12.4% |
| Retained Earnings | -$1.1B-6.7% | -$1.1B-6.2% | -$1.1B-6.9% | -$1.1B-7.8% | -$1.1B-8.3% | -$1.0B-3.7% | -$1.0B-4.8% | -$996.3M-3.9% |
Not reported in any period shown, so not listed: Inventory, Goodwill.
FIRY Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$17.9M+13.9% | -$6.7M+38.4% | -$12.7M+34.9% | -$24.5M-123.0% | -$20.8M-174.9% | -$10.9M-148.7% | -$19.5M-58.9% | -$11.0M+40.4% |
| Depreciation & Amortization | $995K+412.9% | $716K+328.7% | $796K+66.9% | $224K-42.4% | $194K-51.9% | $167K-57.7% | $477K+363.1% | $389K-20.0% |
| Stock-Based Compensation | $7.0M+60.9% | $2.8M-50.3% | N/A | $4.3M-36.5% | $4.4M-41.3% | $5.5M-36.5% | N/A | $6.7M-46.0% |
| Capital Expenditures | -$281K-56.6% | $363K-69.5% | -$705K+11.2% | $268K-30.9% | $648K+62.4% | $1.2M+131.5% | -$634K-45.1% | $388K-15.5% |
| Free Cash Flow | -$18.2M+15.2% | -$7.1M+41.4% | -$13.4M+33.4% | -$24.8M-117.7% | -$21.5M-178.3% | -$12.1M-146.9% | -$20.1M-49.9% | -$11.4M+39.8% |
| Investing Cash Flow | -$3.2M-90.9% | -$965K+44.1% | -$1.4M-18.6% | -$1.3M+45.9% | -$1.7M-183.3% | -$1.7M-1121.9% | -$1.2M-126.2% | -$2.4M-110.0% |
| Financing Cash Flow | -$1.8M+44.1% | -$485K+90.2% | -$2.8M+68.2% | -$70K+95.6% | -$3.2M+21.2% | -$4.9M+31.6% | -$8.8M+33.8% | -$1.6M-265.7% |
| Share Buybacks | $0-100.0% | $0-100.0% | $1.5M-81.8% | $15K-88.9% | $3.0M-22.0% | $4.7M-32.0% | $8.4M-35.0% | $135K |
Not reported in any period shown, so not listed: Dividends Paid.
FIRY Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 87.4%+0.2pp | 87.6%+1.2pp | 88.3%+6.5pp | 87.7%+1.5pp | 87.2%+0.5pp | 86.5%+0.1pp | 81.8%-7.1pp | 86.3%-3.6pp |
| Operating Margin | -69.6%-6.2pp | -30.1%+40.6pp | -53.9% | -59.4%+26.0pp | -63.4% | -70.7% | -136.4% | -85.5%+0.8pp |
| Net Margin | -79.0%-7.9pp | -37.6%+40.7pp | -59.7% | -63.7%+22.2pp | -71.1% | -78.3% | -140.7% | -86.0%+6.1pp |
| Return on Equity | -29.0%-16.2pp | -10.7%+0.2pp | -16.0%-1.6pp | -13.7%-3.1pp | -12.8%-24.9pp | -10.9%+3.5pp | -14.4%-7.1pp | -10.6%+4.1pp |
| Return on Assets | -9.0%-3.5pp | -3.8%+1.0pp | -6.1%+0.6pp | -5.6%-0.2pp | -5.5%-11.9pp | -4.8%+2.2pp | -6.7%-2.8pp | -5.4%+2.4pp |
| Current Ratio | 1.03-3.1x | 1.13-3.1x | 1.20-3.4x | 4.32-1.5x | 4.17-2.2x | 4.24-0.8x | 4.60-1.7x | 5.80+0.4x |
| Debt-to-Equity | 0.00-0.9x | 0.00-0.8x | 0.00-0.7x | 1.00+0.4x | 0.90+0.3x | 0.80+0.1x | 0.73+0.1x | 0.63+0.1x |
| Asset Turnover | 0.110.0x | 0.100.0x | 0.10+0.1x | 0.090.0x | 0.080.0x | 0.060.0x | 0.050.0x | 0.060.0x |
| FCF Margin | -58.7%+26.4pp | -24.4%+31.0pp | -44.6% | -90.5%-44.2pp | -85.1% | -55.4%-35.9pp | -113.3% | -46.3%+5.5pp |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
Where Firy Inc. Ranks
Frequently Asked Questions
What is Firy Inc.'s annual revenue?
Firy Inc. (FIRY) reported $104.5M in total revenue for fiscal year 2025. This represents a 12.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Firy Inc.'s revenue growing?
Firy Inc. (FIRY) revenue grew by 12.5% year-over-year, from $92.9M to $104.5M in fiscal year 2025.
Is Firy Inc. profitable?
No, Firy Inc. (FIRY) reported a net income of -$70.4M in fiscal year 2025, with a net profit margin of -67.4%.
What is Firy Inc.'s EBITDA?
Firy Inc. (FIRY) had EBITDA of -$62.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Firy Inc. have?
As of fiscal year 2025, Firy Inc. (FIRY) had $194.5M in cash and equivalents against $0 in long-term debt.
What is Firy Inc.'s gross margin?
Firy Inc. (FIRY) had a gross margin of 87.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Firy Inc.'s operating margin?
Firy Inc. (FIRY) had an operating margin of -61.2% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Firy Inc.'s net profit margin?
Firy Inc. (FIRY) had a net profit margin of -67.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Firy Inc.'s return on equity (ROE)?
Firy Inc. (FIRY) has a return on equity of -63.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Firy Inc.'s free cash flow?
Firy Inc. (FIRY) recorded an outflow of $70.3M in free cash flow during fiscal year 2025. This represents a -808.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Firy Inc.'s operating cash flow?
Firy Inc. (FIRY) recorded an outflow of $68.9M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Firy Inc.'s total assets?
Firy Inc. (FIRY) had $293.5M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Firy Inc.'s capital expenditures?
Firy Inc. (FIRY) invested $1.4M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Firy Inc. spend on research and development?
Firy Inc. (FIRY) invested $20.6M in research and development during fiscal year 2025.
What is Firy Inc.'s current ratio?
Firy Inc. (FIRY) had a current ratio of 1.20 as of fiscal year 2025, which is considered adequate.
What is Firy Inc.'s debt-to-equity ratio?
Firy Inc. (FIRY) had a debt-to-equity ratio of 0.00 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Firy Inc.'s return on assets (ROA)?
Firy Inc. (FIRY) had a return on assets of -24.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Firy Inc.'s P/E ratio?
Firy Inc. (FIRY) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $206.3M as of Oct 13, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Firy Inc.'s price-to-sales ratio?
Firy Inc. (FIRY) trades at 1.8x sales, its market capitalization divided by revenue of $117.5M revenue, trailing 12 months to June 30, 2026. The market capitalization is $206.3M as of Oct 13, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Firy Inc.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Firy Inc. (FIRY) held $194.5M in cash, cash equivalents and investments, and reported an operating cash outflow of $68.9M over that year. Dividing the one by the other, the reported balance equals about 34 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is Firy Inc.'s Altman Z-Score?
Firy Inc. (FIRY) has an Altman Z-Score of -4.74, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Firy Inc.'s Piotroski F-Score?
Firy Inc. (FIRY) has a Piotroski F-Score of 4 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Firy Inc.'s earnings high quality?
Firy Inc. (FIRY) reported a net loss of $70.4M while operations used $68.9M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Firy Inc. cover its interest payments?
Firy Inc. (FIRY) reported an operating loss of $63.9M against $15.2M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Firy Inc.?
Firy Inc. (FIRY) scores 38 out of 100 on our Financial Health Score, indicating weak standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.