Firy Inc. identifies Andrew Bernard Dahlinghaus as its General Counsel in an initial statement of beneficial ownership. The submission references an attached power of attorney.
Firy Inc. (FIRY) reported that director Gary Vecchiarelli will resign from its Board, Audit Committee, and Compensation Committee effective October 1, 2026, with the company stating his resignation is not due to any disagreement regarding operations, policies, or practices.
Upon recommendation of the Nominating and Corporate Governance Committee, the Board appointed Marc Lasry
Firy Inc. (FIRY), parent of Skillz and RZR, reported Q2 2026 revenue of $30,992 thousand, up about 23% from Q2 2025, with first‑half 2026 revenue of $60,097 thousand versus $47,111 thousand a year earlier. Skillz contributed $20,771 thousand and RZR $10,349 thousand this quarter, with RZR generating positive Adjusted EBITDA of $1,930 thousand and Skillz slightly positive at $583 thousand, while corporate costs kept total Adjusted EBITDA at a loss of $13,553 thousand.
The company remains loss‑making, with a Q2 2026 net loss of $24,475 thousand (vs. $17,922 thousand) and a six‑month net loss of $35,420 thousand. Cash, cash equivalents and restricted cash were $164,991 thousand at June 30, 2026, down from $195,513 thousand at year‑end, after $24,652 thousand of operating cash outflow in the first half. Total stockholders’ equity declined to $84,468 thousand, with an accumulated deficit of $1,127,086 thousand, while $129,671 thousand of 10.25% Senior Secured Notes remained outstanding, all classified as current.
Firy discloses significant legal developments. A federal court entered a final judgment awarding Skillz $719 million in disgorgement of unjust profits plus about $10.1 million in fees and costs against Papaya Gaming, which the company plans to pursue, though timing and ultimate recovery are uncertain. The company also continues to receive annual $7.5 million royalty payments under the AviaGames settlement through 2028. Other ongoing matters include disputes with Tether Studios and Voodoo SAS, and an indirect tax exposure of $8,371 thousand, which could affect results depending on outcomes.
Firy Inc. (formerly Skillz Inc.) reported that on August 14, 2026 it redeemed $80.0 million in aggregate principal amount of its outstanding 10.250% Secured Notes due 2026. The Notes were redeemed at a redemption price of 100.000% of principal, plus accrued and unpaid interest, meaning the company paid their full face value in cash in addition to interest owed up to the redemption date.
After this transaction, Firy Inc. states that $49,671,000 aggregate principal amount of these Secured Notes remains outstanding as of August 14, 2026. This action reduces the outstanding balance of this high‑coupon debt while leaving a smaller portion of the 10.250% Secured Notes still in place.
Firy Inc. notified regulators that it will file its Quarterly Report on Form 10-Q for the quarter ended June 30, 2026 late and is using the five calendar day extension available under Rule 12b-25. The company states it needs additional time to complete procedures related to its quarterly reporting process and to finalize unaudited financial statements. It reports dedicating significant resources to complete the filing as soon as practicable and notes that it furnished a press release with preliminary Q2 2026 results on August 13, 2026, which remain subject to change pending completion of the Form 10-Q.
Firy Inc. reported unaudited second quarter 2026 results with revenue of $31.0 million, up 23% year over year, and gross profit of $27.1 million. The company recorded a net loss of $24.5 million and an Adjusted EBITDA loss of $13.6 million, or $2.7 million when excluding litigation expense. Total operating expenses were $48.6 million, driven largely by general and administrative costs of $28.2 million, which include substantial litigation-related items.
Management highlighted segment RZR surpassing $10 million in quarterly revenue with a fourth consecutive profitable quarter, and noted a court judgment of $719 million in disgorgement plus approximately $10 million in fees and costs against Papaya Gaming, which Papaya is challenging through payment arrangements and a Chapter 15 petition. After quarter-end, Firy announced redemption of $80 million of debt, leaving approximately $50 million outstanding, supported by $164.991 million in cash, cash equivalents and restricted cash and significant tax assets, including federal net operating loss carryforwards of $702 million and state NOLs of $280 million. User metrics show 117 thousand paying monthly active users and 349 thousand monthly active users, with ARPPU of $59.1 and ARPU of $19.9.
Firy Inc. director Henry M. Hoffman reported the vesting and settlement of 3,511 restricted stock units into 3,511 shares of Class A common stock on August 3, 2026. The restricted stock unit grant vests over four years from August 3, 2022, and Hoffman now directly holds 14,043 Class A shares.
Firy Inc. director Kent Wakeford reported the settlement of 16,129 restricted stock units into 16,129 shares of Class A common stock on July 31, 2026 at $0.0000 per share. After this vesting event, he directly holds 34,431 Class A shares and 32,258 restricted stock units from a grant vesting over four years from July 31, 2024.
Firy Inc. stated that on August 4, 2026 it delivered a notice of partial redemption for $80.0 million aggregate principal amount of its 10.250% Secured Notes due 2026. The notes selected for redemption will be redeemed on August 14, 2026 at 100.000% of principal, plus any accrued and unpaid interest.
As of August 4, 2026, there was $129,671,000 aggregate principal amount of these notes outstanding. UMB Bank, N.A. is serving as trustee for the notes and as paying agent in connection with the partial redemption.
Firy Inc., through its wholly owned subsidiary Skillz Platform Inc., obtained a federal court order stating that judgment will be entered against Papaya Gaming for $719 million in disgorgement of unjust profits, plus certain attorney’s fees and costs, arising from a 2024 false advertising lawsuit under the federal Lanham Act and New York General Business Law.
The $719 million disgorgement, identified by both the jury and the court as the appropriate measure of recovery, is in lieu of the $420 million in actual damages awarded by a unanimous jury in April 2026. The court denied all of Papaya’s post-trial motions and awarded approximately $10 million in attorney’s fees for 2024 and 2025, with additional litigation costs tied to Papaya executives’ invocation of the Fifth Amendment. Firy plans to vigorously pursue collection of the judgment, while noting there is no assurance regarding the timing or amount of any ultimate recovery, including in light of any appeal or further proceedings.