FIRY (FIRY)
🔔 Watch stock
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We found at least one documented issue that threatens the company itself — regardless of how the stock is currently valued.
No going-concern qualification, the cash covers the December note, and the turnaround is visible in the numbers — but an Altman Z around minus 9, four distress flags, a 51-percent revenue cluster in court and around 10 percent daily swings make the stock a bet on deadlines: the Tether trial in August, the note maturity in December, the control remediation by the end of 2026. If all three go well, the cash discount was a gift; if one goes wrong, the thin float takes the blow. The decision is yours.
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On June 18, 2026, Skillz renamed itself Firy — the mobile-gaming platform's stock has more than doubled since the start of 2026, and there is $185.4 million of cash in the till against a market value of only about $131 million. Sounds like a fresh start at a bargain price? We read the annual report (10-K) for 2025 and the quarterly report (10-Q) as of March 31, 2026: the partner behind 51 percent of revenue has terminated and meets Firy in court in August 2026, a $129.7 million note at 10.25 percent comes due in December 2026, and the internal accounting controls have been demonstrably leaky for years. Not investment advice — just the question of what a new name is worth when the old numbers move in with it.
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Stock Watch
This analysis is as of July 15, 2026. Stock Watch will tell you what's changed at FIRY since then.
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Appears in These Scanners
This stock currently matches 3 of our scanner strategies — each hit links to the scanner.
Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. Scanners marked in red are red-flag signals (risk/short scanners) — appearing there is not a seal of approval. View all scanners
Trading Day
Key levels of the most recently completed trading day — not a live quote.
52-Week Range
Current price 9.40 $ — 70% of the range above the low.
Lowest and highest closing price over the last 52 weeks. The marker shows where the current price sits within that range: close to the high speaks for strength, close to the low for weakness.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 08/03/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
This stock currently pays no dividend.
Quality & Screener
AI Rating
Sells AIFiry (bis Juni 2026: Skillz) betreibt neben der Gaming-Plattform das Segment RZR (ehemals Aarki), das im Geschäftsbericht ausdrücklich als „AI-powered advertising technology segment“ beschrieben wird: eine Werbeplattform auf Basis von proprietärem Machine Learning und neuronalen Netzen. RZR ist eine dokumentierte Umsatzquelle — 26,3 Millionen US-Dollar Umsatz 2025 (plus 153 Prozent), laut 10-K getrieben von höherer Nachfrage nach der Advertising-Technologie. KI-Produkte erzeugen damit nachweislich Umsatz.
View the full file — quotes, sources, reviewed filings
„Paired with RZR (formerly Aarki), our AI-powered advertising technology segment, Skillz operates an ecosystem that combines content, audience, and performance into a unified growth engine. RZR delivers advertising solutions that drive revenue growth for brands and mobile apps by leveraging billions of contextual bidding signals, proprietary machine learning, and behavioral models to engage audiences in a privacy-first world."
Gemeinsam mit RZR (ehemals Aarki), unserem KI-gestützten Werbetechnologie-Segment, betreibt Skillz ein Ökosystem, das Inhalte, Publikum und Performance zu einem einheitlichen Wachstumsmotor verbindet. RZR liefert Werbelösungen, die das Umsatzwachstum von Marken und Mobile-Apps antreiben — auf Basis von Milliarden kontextbezogener Gebotssignale, proprietärem maschinellem Lernen und Verhaltensmodellen, um Zielgruppen in einer datenschutzorientierten Welt zu erreichen.
„RZR is a performance marketing platform that enables advertisers to acquire, retain, and monetize users across mobile, connected television (“CTV”), and other digital channels. The platform utilizes proprietary machine learning and neural network-based architecture to optimize campaigns across user acquisition, retargeting, and brand performance objectives within a unified system."
RZR ist eine Performance-Marketing-Plattform, mit der Werbetreibende Nutzer über Mobile, Connected TV („CTV“) und andere digitale Kanäle gewinnen, binden und monetarisieren können. Die Plattform nutzt proprietäres maschinelles Lernen und eine auf neuronalen Netzen basierende Architektur, um Kampagnen über Nutzergewinnung, Retargeting und Marken-Performance-Ziele hinweg in einem einheitlichen System zu optimieren.
„RZR revenue increased by $15.9 million, or 153%, to $26.3 million in 2025 from $10.4 million in 2024. This was primarily due to higher advertising technology revenue from greater demand."
Der RZR-Umsatz stieg um 15,9 Millionen US-Dollar oder 153 Prozent auf 26,3 Millionen US-Dollar im Jahr 2025, von 10,4 Millionen im Jahr 2024. Dies lag vor allem an höheren Erlösen der Werbetechnologie infolge größerer Nachfrage.
„Presently, we employ AI, machine learning technologies, and automated decision-making technologies, including proprietary AI and machine learning algorithms and models (collectively, “AI Technologies”) throughout our business, and are making significant investments in this area."
Gegenwärtig setzen wir KI, Machine-Learning-Technologien und Technologien zur automatisierten Entscheidungsfindung — einschließlich proprietärer KI- und Machine-Learning-Algorithmen und -Modelle (zusammen „KI-Technologien“) — in unserem gesamten Geschäft ein und investieren erheblich in diesen Bereich.
Filings Reviewed: 10-Q 2026-05-15 · 10-Q 2025-12-11 · 10-Q 2025-12-11 · 10-Q 2025-12-11 · 10-K 2026-03-31 · 10-K 2025-11-06
Rated on July 14, 2026 · How the Rating Is Built
Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.
Next Reporting Date
- Expected Earnings per Share
- -1.25 $
Expected date of the next quarterly or annual figures. Dates do shift occasionally — only the invitation issued by the company is binding.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
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· Total · per year
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Source: fundamental data
Quarterly Figures
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2025: Q1 | -1.41 | – | 22 | – | -78.30 | -11 | -13 |
| 2025: Q2 | -1.47 | – | 25 | – | -71.10 | -21 | -23 |
| 2025: Q3 | -1.43 | – | 27 | – | -63.70 | -25 | -26 |
| 2025: Q4 | -2.39 | – | 27 | – | -106.50 | -12 | -9 |
| 2026: Q1 | -0.90 | – | 29 | 32.90 | -37.60 | -7 | -7 |
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Assessment: Opportunities & Risks
The tournament platform is growing again (2025 revenue: +13 percent to $104.5 million; Q1 2026: +33 percent), and paying users rose in 2025 from 118,000 to 141,000 — but the total user count fell from 816,000 to 658,000, and the model hangs on the regulatory sleight of hand that skill is not gambling.
The AI advertising technology segment (formerly Aarki) grew 153 percent in 2025 to $26.3 million and doubled again in the first quarter of 2026 ($9.8 million) — a real growth driver, largely independent of the gaming litigation per the annual report (10-K) for 2025.
Tether Studios delivered the games behind 51 percent of 2025 revenue (Big Run: another 23 percent) and terminated all agreements on August 29, 2025; the trial before the Delaware Court of Chancery is scheduled for August 25 to 27, 2026, and the contractual game commitment carries only 18 months.
$185.4 million of cash exceeds the market value (about $131 million, July 8, 2026) — but on December 15, 2026, $129.7 million of notes at 10.25 percent come due; afterwards, arithmetically about $56 million would remain for a business with a $70.4 million loss in 2025. No going-concern qualification; the cash burn fell to $6.7 million in Q1 2026.
Three material weaknesses in internal financial controls remained unresolved as of December 31, 2025, there were restatements, a 10-K for 2024 filed seven months late including an NYSE notice — and co-founder Andrew Paradise controls 87 percent of the voting power (Class B: 20 votes per share, "controlled company").
Firy is more than a renamed stock-market shell: revenue is growing at double-digit rates, the AI adtech segment RZR is booming, the cash burn is falling, and the cash exceeds the market value. But the filings hang three weights on the fresh start: a trial over the partner behind half the revenue (from August 25, 2026), a $129.7 million note due on December 15, 2026 that halves the cash cushion, and accounting control weaknesses unresolved for years — with a founder who decides alone with 87 percent of the votes. Not investment advice.
- Firy operated as Skillz Inc. until June 18, 2026; all SEC filings quoted here were submitted under the name Skillz Inc. (ticker SKLZ). The scanner membership ("Going Concern (Distress-Proxy)", additionally "Beneish M-Score") was verified live on the platform on July 14, 2026.
- The 2024 net loss (−$46.8 million) includes a one-off gain of $46.0 million from the AviaGames settlement; 2025 and the first quarter of 2026 each include $7.5 million of annual license payments from the same settlement.
- Price and valuation figures dated July 8, 2026 (about $8.40, about 15.6 million Class A and B shares); analyses are evergreen, daily prices are not a buy argument.
About the Company
| Employees | 370 |
|---|---|
| Headquarters | Las Vegas, NV |
| Website | skillz.com |
| IPO Date | 22. Jun 2026 |
Management
| Name | Title | Birth Year |
|---|---|---|
| Andrew C. Paradise | Co-Founder, CEO & Chairman of the Board | 1983 |
| Casey Chafkin | Co-Founder, Advisor, Chief Strategy Officer, Chief Revenue Officer & Director | 1985 |
| Gaetano Franceschi | Chief Financial Officer | 1973 |
| Todd A. Valli | Chief Accounting Officer | 1974 |
| Nicole Singleton | Chief Human Resources Officer | – |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Insider Transactions
| Date | Person | Role | Type | Shares | Price | Value |
|---|---|---|---|---|---|---|
| 14. Jul 2026 | Valli Todd A. | Chief Accounting Officer | Other | 2,958 | 8.44 | 24,966 |
| 14. Jul 2026 | Valli Todd A. | Chief Accounting Officer | Other | 12,610 | 0.00 | – |
Reportable transactions by officers and major shareholders from SEC Form 4 filings. "Other" includes things like stock grants and option exercises without a buy/sell character.
View all insider transactions →Chart
Interactive price chart (TradingView).
Data as of: July 31, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.