Firy (FIRY) appointed Marc Lasry, Co-Founder, Chairman and CEO of Avenue Capital Group, to its Board of Directors as an independent director, effective October 1, 2026.
Lasry has more than three decades of investing experience and leads an investment firm with approximately $9.2 billion in assets under management. He previously backed the company, then known as Skillz, by participating in its $15 million Series B financing in September 2015. Lasry said he believes Firy has reset its cost structure, strengthened its balance sheet, and built a fast-growing AI ad-tech business. Separately, Gary A. Vecchiarelli will move from the Board of Directors to serve as a Board Advisor, also effective October 1, 2026.
Firy (NYSE: FIRY) reported that an Israeli court declined Papaya Gaming’s request to convene creditor meetings on its current debt settlement proposal and instructed Papaya to improve its plan to repay approximately $730 million owed to FIRY subsidiary Skillz.
The court said Papaya’s proposal, which relied solely on future operating profits, should be strengthened with additional capital sources and appointed an arrangement manager to work on a revised plan. The Israeli proceeding is subject to a 45‑day pause on collections. According to Firy, U.S. courts have entered judgments totaling about $719 million in disgorgement plus roughly $10 million in fees in Skillz’s favor, and Skillz plans to pursue full recovery in both Israel and the United States.
Firy (NYSE: FIRY) reported unaudited Q2 2026 revenue of $31.0 million, up 6% sequentially and 23% year over year, with gross profit of $27.1 million. Net loss was $24.5 million, and Adjusted EBITDA loss was $13.6 million, or $2.7 million excluding litigation expense.
Paying monthly active users were 117,000 with ARPPU of $59.1. The RZR business exceeded $10 million in quarterly revenue and recorded its fourth consecutive profitable quarter. According to Firy, a court entered a $719 million disgorgement judgment plus about $10 million in fees and costs against Papaya Gaming.
The company ended June 30, 2026 with $164.0 million in cash, cash equivalents and restricted cash and current debt of about $128.6 million. In August, Firy announced redemption of $80 million of debt, expecting about $50 million to remain outstanding, and highlighted federal and state NOLs totaling roughly $982 million and $15 million still to be collected from an Avia Games settlement.
Firy (NYSE: FIRY) plans to release its 2026 second quarter financial results after the market close on Thursday, August 13, 2026, and will host a public conference call and audio webcast on Friday, August 14, 2026 at 9:00 a.m. ET.
According to Firy, management will review financial results, provide a business update, and hold a Q&A session. Investors can access the live webcast via a provided link or register separately to receive dial-in details and a unique access code. A replay will be available for one year through the same webcast link and on the company’s investor relations website.
Firy (NYSE: FIRY), formerly Skillz, announced that the U.S. District Court for the Southern District of New York will enter a judgment ordering Papaya Gaming to pay $719 million in disgorgement of unjust profits to wholly owned subsidiary Skillz Platform, plus certain attorney’s fees and costs.
The disgorgement award is nearly $300 million, or 71%, above the April 2026 jury award of $420 million in actual damages, which it replaces as the Company may recover only once. A unanimous federal jury previously found Papaya’s advertising false, with trial evidence indicating that from 2021–2024 about 70% of the $6.7 billion in advertised prize money, roughly $4.7 billion, was not paid to customers because bots “won” instead, and that over 13 million bot participants exceeded about 11 million human players.
The Court denied all of Papaya’s post‑trial motions and awarded the Company approximately $10 million in 2024–2025 attorney’s fees, plus certain costs tied to Papaya executives’ Fifth Amendment invocations. A separate opinion on injunctive relief is pending, and FIRY cautions there is no assurance on timing or amount of any ultimate recovery, including in light of potential appeals.
Firy (NYSE:FIRY), formerly Skillz, completed its corporate rebrand and began trading under the new FIRY ticker on the NYSE, effective today.
The name change took effect June 18, 2026. Firy remains the parent of three independent businesses: Skillz, RZR, and Beamable.