Firy Inc Financials
This page shows Firy Inc (FIRY) financial statements, including the 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).
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). 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 has an operating margin of -61.2%, meaning the company retains $-61 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from -50.1% the prior year.
Firy Inc's revenue grew 12.5% year-over-year to $104.5M, a solid pace of expansion. This earns a growth score of 5/100.
Firy Inc carries a low D/E ratio of 0.00, meaning only $0.00 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.
Firy Inc's current ratio of 1.20 is below the typical benchmark, resulting in a score of 19/100. However, the company holds substantial cash reserves (108% of current liabilities), which buffers actual liquidity risk. Large mature operators often run tight current ratios by design.
While Firy Inc generated -$68.9M in operating cash flow, capex of $1.4M consumed most of it, leaving -$70.3M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
Firy Inc generates a -63.0% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from -27.0% the prior year.
Firy Inc passes 4 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Firy Inc generates $0.98 in operating cash flow (-$68.9M OCF vs -$70.4M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Firy Inc earns $-4.2 in operating income for every $1 of interest expense (-$63.9M vs $15.2M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Firy Inc generated $104.5M in revenue in fiscal year 2025. This represents an increase of 12.5% from the prior year.
Firy Inc's EBITDA was -$62.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 39.5% from the prior year.
Firy Inc reported -$70.4M in net income in fiscal year 2025. This represents a decrease of 50.5% from the prior year.
Firy Inc earned $-4.51 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 72.1% from the prior year.
Cash & Balance Sheet
Firy Inc generated -$70.3M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 808.4% from the prior year.
Firy Inc held $194.5M in cash against $0 in long-term debt as of fiscal year 2025.
Margins & Returns
Firy Inc's gross margin was 87.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 1.9 percentage points from the prior year.
Firy Inc's operating margin was -61.2% in fiscal year 2025, reflecting core business profitability. This is down 11.1 percentage points from the prior year.
Firy Inc's net profit margin was -67.4% in fiscal year 2025, showing the share of revenue converted to profit. This is down 17.0 percentage points from the prior year.
Firy Inc's ROE was -63.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 35.9 percentage points from the prior year.
Capital Allocation
Firy Inc invested $20.6M in research and development in fiscal year 2025. This represents an increase of 23.1% from the prior year.
Firy Inc spent $9.3M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 52.2% from the prior year.
Firy Inc invested $1.4M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 110.0% from the prior year.
FIRY Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $29.1M-3.0% | $30.0M+9.6% | $27.4M+8.6% | $25.2M+15.1% | $21.9M+23.2% | $17.8M-27.7% | $24.6M-2.9% | $25.3M |
| Cost of Revenue | $3.6M+2.5% | $3.5M+4.6% | $3.4M+4.2% | $3.2M+8.6% | $3.0M-8.3% | $3.2M-4.1% | $3.4M+0.8% | $3.3M |
| Gross Profit | $25.5M-3.7% | $26.5M+10.3% | $24.0M+9.2% | $22.0M+16.2% | $18.9M+30.2% | $14.5M-31.4% | $21.2M-3.5% | $21.9M |
| R&D Expenses | $5.1M-8.3% | $5.5M+1.4% | $5.4M+12.5% | $4.8M+0.5% | $4.8M+54.9% | $3.1M-34.4% | $4.7M+11.0% | $4.3M |
| SG&A Expenses | $19.4M+8.8% | $17.9M+2.1% | $17.5M+4.6% | $16.7M-12.5% | $19.1M-6.6% | $20.4M+12.6% | $18.1M+5.3% | $17.2M |
| Operating Income | -$8.8M+46.0% | -$16.2M+0.5% | -$16.3M-1.8% | -$16.0M-3.3% | -$15.5M+36.1% | -$24.2M-15.4% | -$21.0M-182.0% | $25.6M |
| Interest Expense | $3.8M+0.4% | $3.8M+0.4% | $3.8M+0.3% | $3.8M+0.2% | $3.8M+0.2% | $3.8M+0.5% | $3.8M-0.1% | $3.8M |
| Income Tax | $74K+54.2% | $48K+20.0% | $40K+310.5% | -$19K-148.7% | $39K+150.6% | -$77K-340.6% | $32K-56.2% | $73K |
| Net Income | -$10.9M+38.9% | -$17.9M-2.6% | -$17.4M+2.7% | -$17.9M-4.6% | -$17.1M+31.4% | -$25.0M-18.4% | -$21.1M-181.1% | $26.0M |
| EPS (Diluted) | $-0.69 | N/A | $-1.14+1.7% | $-1.16-10.5% | $-1.05 | N/A | $-1.20-183.3% | $1.44 |
FIRY Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $287.3M-2.1% | $293.5M-5.1% | $309.2M-5.8% | $328.2M-8.8% | $359.9M-3.8% | $374.3M-4.1% | $390.2M-3.1% | $402.9M |
| Current Assets | $209.1M-3.4% | $216.5M-7.1% | $233.1M-8.3% | $254.2M-11.6% | $287.5M-5.2% | $303.2M-5.8% | $321.8M-3.9% | $334.8M |
| Cash & Equivalents | $185.4M-4.7% | $194.5M-8.2% | $211.8M-7.4% | $228.7M-10.1% | $254.3M-6.5% | $271.9M-9.8% | $301.4M-4.7% | $316.4M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $16.1M+11.4% | $14.4M+1.0% | $14.3M+58.9% | $9.0M+10.5% | $8.1M+66.2% | $4.9M-7.2% | $5.3M+24.8% | $4.2M |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $185.1M+1.9% | $181.6M-0.2% | $182.1M-3.1% | $187.9M-7.5% | $203.1M+0.9% | $201.2M+5.5% | $190.7M+1.6% | $187.6M |
| Current Liabilities | $184.3M+2.0% | $180.7M+235.0% | $53.9M-11.5% | $60.9M-10.0% | $67.7M+2.8% | $65.9M+18.7% | $55.5M+5.9% | $52.4M |
| Long-Term Debt | $0 | $0-100.0% | $127.1M+0.4% | $126.6M+0.4% | $126.1M+0.4% | $125.7M+0.4% | $125.2M+0.3% | $124.8M |
| Total Equity | $102.2M-8.6% | $111.8M-12.1% | $127.2M-9.4% | $140.3M-10.5% | $156.8M-9.4% | $173.0M-13.2% | $199.5M-7.3% | $215.2M |
| Retained Earnings | -$1.1B-1.0% | -$1.1B-1.7% | -$1.1B-1.7% | -$1.1B-1.7% | -$1.0B-1.7% | -$1.0B-2.5% | -$996.3M-2.2% | -$975.1M |
FIRY Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$6.7M+46.9% | -$12.7M+48.2% | -$24.5M-17.7% | -$20.8M-90.4% | -$10.9M+43.9% | -$19.5M-77.5% | -$11.0M-139.5% | $27.8M |
| Capital Expenditures | $363K+151.5% | -$705K-363.1% | $268K-58.6% | $648K-45.6% | $1.2M+288.0% | -$634K-263.4% | $388K-2.8% | $399K |
| Free Cash Flow | -$7.1M+47.0% | -$13.4M+45.9% | -$24.8M-15.4% | -$21.5M-77.0% | -$12.1M+39.8% | -$20.1M-77.0% | -$11.4M-141.5% | $27.4M |
| Investing Cash Flow | -$965K+31.8% | -$1.4M-9.2% | -$1.3M+23.9% | -$1.7M+1.5% | -$1.7M-44.9% | -$1.2M+50.2% | -$2.4M-217.3% | $2.0M |
| Financing Cash Flow | -$485K+82.7% | -$2.8M-3911.4% | -$70K+97.8% | -$3.2M+35.6% | -$4.9M+44.2% | -$8.8M-452.6% | -$1.6M+60.3% | -$4.0M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $0-100.0% | $1.5M+10126.7% | $15K-99.5% | $3.0M-37.1% | $4.7M-44.0% | $8.4M+6154.8% | $135K-96.5% | $3.8M |
FIRY Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 87.6%-0.7pp | 88.3%+0.6pp | 87.7%+0.5pp | 87.2%+0.8pp | 86.5%+4.7pp | 81.8%-4.5pp | 86.3%-0.5pp | 86.8% |
| Operating Margin | -30.1%+23.9pp | -53.9%+5.5pp | -59.4%+3.9pp | -63.4%+7.3pp | -70.7%+65.7pp | -136.4%-50.9pp | -85.5%-186.6pp | 101.2% |
| Net Margin | -37.6%+22.0pp | -59.7%+4.1pp | -63.7%+7.4pp | -71.1%+7.2pp | -78.3%+62.4pp | -140.7%-54.7pp | -86.0%-188.9pp | 103.0% |
| Return on Equity | -10.7%+5.3pp | -16.0%-2.3pp | -13.7%-0.9pp | -12.8%-1.8pp | -10.9%+3.5pp | -14.4%-3.9pp | -10.6%-22.7pp | 12.1% |
| Return on Assets | -3.8%+2.3pp | -6.1%-0.5pp | -5.6%-0.2pp | -5.5%-0.7pp | -4.8%+1.9pp | -6.7%-1.3pp | -5.4%-11.9pp | 6.5% |
| Current Ratio | 1.13-0.1 | 1.20-3.1 | 4.32+0.2 | 4.17-0.1 | 4.24-0.4 | 4.60-1.2 | 5.80-0.6 | 6.38 |
| Debt-to-Equity | 0.000.0 | 0.00-1.0 | 1.00+0.1 | 0.90+0.1 | 0.80+0.1 | 0.73+0.1 | 0.63+0.0 | 0.58 |
| FCF Margin | -24.4%+20.3pp | -44.6%+45.8pp | -90.5%-5.3pp | -85.1%-29.7pp | -55.4%+57.9pp | -113.3%-67.0pp | -46.3%-154.6pp | 108.3% |
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) generated -$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) generated -$68.9M in operating cash flow during fiscal year 2025, representing cash generated from 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 cash runway?
Based on fiscal year 2025 data, Firy Inc (FIRY) had $194.5M in cash against an annual operating cash burn of $68.9M. This gives an estimated cash runway of approximately 34 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Firy Inc's Piotroski F-Score?
Firy Inc (FIRY) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. 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) has an earnings quality ratio of 0.98x, considered low quality (accrual-driven). 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) has an interest coverage ratio of -4.2x, meaning it can struggle to cover its interest obligations. 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 21 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.