Firy AI Stock Analysis
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Firy (FIRY) AI Stock Analysis
Firy
(NYSE:FIRY)
The score is held down mainly by weak financial performance (large ongoing losses and sustained negative free cash flow, with previously elevated leverage). Offsetting this are constructive technical momentum and improved outlook signals from the earnings call and corporate actions, including strong RZR growth/profitability momentum and debt elimination supported by increased liquidity.
Firy Key Performance Indicators (KPIs)
Monthly Active UsersMeasures the number of unique users engaging with Skillz's platform each month, indicating the platform's popularity and user retention capabilities.
MAUs have steadily eroded since 2021, stripping the platform of scale and weakening network effects; recent revenue gains stem more from RZR ad‑tech and higher monetization per payer than a recovery in active user reach. Management is shifting UA spend and product investment to grow paying users, but the departure of a major partner, past technical outages, and imminent debt maturities make a broad MAU rebound uncertain—watch PMAU conversion, partner transitions, and settlement/refinancing progress as the key read‑throughs for sustainable revenue.
The FlyFiry (FIRY) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- $188.07M
- Dividend Yield
- ―
- Average Volume (3M)
- 170.03K
- Price to Earnings (P/E)
- -2.3
- Beta (1Y)
- 2.77
- Revenue Growth
- 27.63%
- EPS Growth
- 9.93%
- Country
- US
- Employees
- 370
- Sector
- Communication Services
- Sector Strength
- 60
- Industry
- Electronic Gaming & Multimedia
Firy Business Overview & Revenue Model
Company Description
Firy Inc. operates a mobile game platform. The company's platform helps developers create franchises by enabling social competition in their games. It hosts casual eSports tournaments for mobile players.
Firy Earnings Call Summary
The call presents a mix of meaningful strategic and operational positives — notably strong RZR growth and profitability, a significant legal judgment in the company's favor, a solid cash position, and corporate restructuring that clarifies assets — alongside material near-term headwinds including large litigation expenses, higher G&A and R&D, a wider GAAP net loss, and operational weakness at Skillz. Management communicated clear pathways to improve Skillz, reduce litigation expense impact over time, and deploy capital prudently, but several financial and execution risks remain in the short term.
Q2-2026 Updates
Positive Updates
Negative Updates
Company Guidance
Management guided that Q2 GAAP revenue was $31.0M (up 6% QoQ, 23% YoY) and reiterated that RZR—now >$10M of quarterly revenue—grew 6% QoQ and 75% YoY, processed >6M queries/sec across >10B devices, achieved four consecutive profitable quarters (168% net retention; grew from $11M to $27M last year) and is expected to nearly double revenue year‑over‑year with profitability building through H2 (CTV and iOS upside). At the corporate level they expect consolidated revenue to more than double from 2025 to 2028, modest positive operating cash flow in 2027 with acceleration in 2028, and declining litigation expenses (Q2 litigation costs neared $11M; Papaya judgment ≈ $730M, collectible only when realized). Balance‑sheet guidance: cash ≈ $164M, redeemed $80M of debt leaving ~$50M outstanding due Dec. 15 (to be paid/refinanced), federal NOLs ≈ $702M and state NOLs ≈ $280M, plus $15M remaining AviaGames proceeds (two $7.5M payments in spring ’27 and ’28). Skillz was guided to face slight Q3 headwinds but has a line‑of‑sight to sequential growth in Q4 (paying MAU down ~8%; Skillz revenue excluding $1.5M of one‑time items down ~3% QoQ).
Firy Financial Statement Overview
Summary
Financials remain the primary weakness: despite a meaningful TTM revenue rebound and very high gross margins, profitability is deeply negative (TTM net margin about -71%) and both operating cash flow (-$58.5M) and free cash flow (-$56.9M) are persistently negative. Balance-sheet risk is elevated given higher leverage (TTM debt-to-equity ~1.63) and strongly negative ROE.
Income Statement
26NegativeBalance Sheet
34NegativeCash Flow
18Very Negative| Breakdown | TTM | Mar 2026 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 114.81M | 104.50M | 95.47M | 152.08M | 269.71M | 380.15M |
| Gross Profit | 100.44M | 91.45M | 82.06M | 136.70M | 238.99M | 354.91M |
| EBITDA | -59.86M | -53.67M | -92.69M | -96.31M | -394.80M | -194.18M |
| Net Income | -81.98M | -70.41M | -48.23M | -101.36M | -438.88M | -187.93M |
Balance Sheet | ||||||
| Total Assets | 271.69M | 293.45M | 374.27M | 395.83M | 621.29M | 1.02B |
| Cash, Cash Equivalents and Short-Term Investments | 163.99M | 194.51M | 271.92M | 302.03M | 489.78M | 560.39M |
| Total Debt | 132.59M | 128.72M | 137.00M | 136.70M | 288.38M | 297.01M |
| Total Liabilities | 190.27M | 181.63M | 201.23M | 185.34M | 342.89M | 411.96M |
| Stockholders Equity | 81.42M | 111.82M | 173.04M | 210.49M | 278.40M | 609.16M |
Cash Flow | ||||||
| Free Cash Flow | -65.61M | -70.33M | -9.58M | -84.99M | -181.49M | -183.39M |
| Operating Cash Flow | -61.55M | -68.93M | -7.07M | -71.76M | -179.60M | -180.15M |
| Investing Cash Flow | -7.21M | -6.14M | -1.63M | 168.30M | 311.39M | -643.92M |
| Financing Cash Flow | -5.12M | -10.97M | -21.29M | -149.95M | -10.61M | 802.68M |
Firy Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FIRY, the sentiment is Positive. The current price of 12.05 is above the 20-day moving average (MA) of 11.91, above the 50-day MA of 11.62, and above the 200-day MA of 7.88, indicating a bullish trend. The MACD of 0.15 indicates Positive momentum. The RSI at 51.04 is Neutral, neither overbought nor oversold. The STOCH value of 69.55 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FIRY.
Firy Risk Analysis
Firy disclosed 48 risk factors in its most recent earnings report. Firy reported the most risks in the "Finance & Corporate" category.
Latest Risks Added
1 New RiskFiry Peers Comparison
Overall Rating
DDI82Outperform
GDEV62Neutral- FIRY57Neutral
PLTK54Neutral
MYPS52Neutral
SNAL46Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| DDI | 82Outperform | $778.98M | 6.22 | 12.93% | ― | 13.89% | 18.17% |
| GDEV | 62Neutral | $173.40M | 2.00 | -88.88% | ― | ― | ― |
| Sector * | 60Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% |
| FIRY | 57Neutral | $212.10M | -2.31 | -77.59% | ― | 27.63% | 9.93% |
| PLTK | 54Neutral | $979.65M | -3.38 | 68.21% | 16.06% | 3.72% | -420.57% |
| MYPS | 52Neutral | $50.63M | -1.27 | -22.93% | ― | -12.02% | -29.83% |
| SNAL | 46Neutral | $20.60M | -1.85 | 66.84% | ― | -5.65% | 46.36% |
* Communication Services Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| FIRY | Firy Inc. | 12.05 | 6.08 | 101.84% | |
| DDI | Doubledown Interactive Co., Ltd. | 15.70 | 6.51 | 70.84% | |
| GDEV | Nexters Inc. | 8.34 | -12.27 | -59.54% | |
| MYPS | Playstudios, Inc | 4.81 | -2.05 | -29.86% | |
| PLTK | Playtika Holding Corp. | 2.49 | -1.34 | -35.04% | |
| SNAL | Snail, Inc. Class A | 2.28 | -2.32 | -50.43% |
Firy Corporate Events
Firy Redeems Secured Notes, Strengthening Capital Structure
PositiveOn October 15, 2026, Firy Inc. completed the full redemption of its $49,671,000 aggregate principal amount of 10.250% Secured Notes due 2026, paying 100% of principal plus accrued and unpaid interest up to, but excluding, the redemption date. Followi...
Firy Completes Debt Redemption, Entering 2027 Debt-Free
PositiveOn October 5, 2026, Firy Inc. delivered notice to fully redeem the remaining $49.7 million of its 10.25% secured notes due 2026, with the redemption scheduled for October 15, 2026 at par plus accrued interest. The move follows an earlier August 2026...
Firy Completes Exit Games Stake Sale, Boosts Liquidity
PositiveOn October 2, 2026, Firy Inc. completed the sale of its entire 14,708-share equity stake in Hamburg-based Exit Games, representing approximately 10.5% of Exit Games’ outstanding share capital, for $55 million in cash. The transaction, announced publi...
Firy Announces Board Changes and New Independent Director
NeutralOn September 11, 2026, Firy Inc. director Gary Vecchiarelli notified the board of his decision to resign, including his roles on the audit and compensation committees, with the departure effective October 1, 2026 and not arising from any disagreement...
Firy Cuts Secured Debt to Enhance Financial Flexibility
PositiveOn August 14, 2026, Firy Inc. redeemed $80.0 million in aggregate principal amount of its outstanding 10.250% secured notes due 2026, paying a redemption price equal to 100 percent of principal plus accrued and unpaid interest. Following this debt re...
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.
Date of analysis: Oct 30, 2026