SKLZ: 8-K · debt financing
Firy Inc. (formerly Skillz Inc.) completed the redemption of all $49.67 million aggregate principal of its 10.250% Secured Notes due 2026 on October 15, 2026, at 100% of principal plus accrued interest. Following the redemption, no Notes remain outstanding, fully eliminating the high-cost 10.25% debt obligation. The payoff removes near-term debt maturity risk and interest expense, a modestly positive development for the company's balance sheet.
Firy Inc., formerly Skillz Inc. and now trading as FIRY on NYSE, delivered a notice on October 5, 2026 to redeem the remaining $49.7 million of its 10.25% Secured Notes due 2026 on October 15, 2026 at 100% of principal plus accrued interest. The redemption completes the retirement of the original $300 million notes ahead of their December 15, 2026 maturity, funded with proceeds from the previously announced sale of its Exit Games equity stake — with no new capital raised and no shareholder dilution. After the redemption and indenture discharge, the company will have no outstanding borrowed debt and the securing liens will be released. Management expects combined savings of roughly $3.6 million in cash interest from the August and October redemptions, and guided to modest positive operating cash flow in 2027 with revenue more than doubling from 2025 to 2028.
SKLZ: 8-K · asset sale
Firy Inc. (formerly Skillz Inc., NYSE: FIRY) completed the sale of its entire equity stake in Exit Games GmbH on October 2, 2026, receiving $55 million in cash — approximately 1.1x its $50 million July 2021 investment. The stake, 14,708 shares or about 10.5% of Exit Games' outstanding share capital, was sold back to Exit Games under a Share Sale and Transfer Agreement, ending Firy's ownership in the maker of the Photon multiplayer networking technology. Management highlighted that the realized return is roughly 22 times the five-year DPI of the average 2021-vintage US venture fund (0.05x), and CEO Andrew Paradise said the cash back on the balance sheet gives FIRY optionality across its portfolio of Skillz, RZR, and Beamable.
SKLZ: 8-K · leadership change
Firy Inc. (NYSE: FIRY), formerly Skillz Inc., 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. The change was reported in an 8-K under Item 5.02 filed September 15, 2026. Gary Vecchiarelli is resigning from the board, including his seats on the Audit and Compensation Committees, effective the same date. The company stated his resignation is not due to any disagreement, and he will transition to a board advisor role. Lasry has a long history with the company: he participated as an investor in Skillz's $15 million Series B round in September 2015 alongside Wildcat Capital Management and The Kraft Group. Avenue Capital manages approximately $9.2 billion in assets, and Lasry brings decades of credit-investing experience plus past co-ownership of the Milwaukee Bucks. CEO Andrew Paradise framed the appointment as adding a proven value creator as FIRY executes its post-rebrand strategy, with Lasry citing the company's reset cost structure, strengthened balance sheet, and fast-growing AI ad-tech business alongside its Skillz competition platform.
Firy Inc. (formerly Skillz Inc.) disclosed that on August 14, 2026 it redeemed $80.0 million in aggregate principal amount of its 10.250% Secured Notes due 2026 at a redemption price of 100.000% of principal, plus accrued and unpaid interest. After consummation of that redemption, $49,671,000 aggregate principal amount of the Notes remains outstanding, per the Item 8.01 disclosure signed by Chief Accounting Officer Todd A. Valli. Retiring the 10.25% coupon notes eliminates interest expense on the redeemed principal and trims the company's 2026 maturity wall, a modest balance-sheet positive; the remaining roughly $49.7 million of notes still comes due in 2026.
SKLZ: NT 10-Q · late filing
Firy Inc. (SKLZ) filed an NT 10-Q on August 17, 2026 notifying the SEC that it could not file its Form 10-Q for the quarter ended June 30, 2026 by the prescribed deadline. The company attributed the delay to needing additional time to complete procedures relating to its quarterly reporting process and is invoking the five calendar day extension available under Rule 12b-25, with the 10-Q expected to be filed within that window. On August 13, 2026, Firy furnished a press release with preliminary Q2 2026 financial results via Form 8-K; those preliminary results remain subject to change pending completion of the 10-Q. The notification also states that no significant change in results of operations versus the prior-year period is anticipated.
SKLZ: 8-K · earnings release
Firy Inc., formerly Skillz Inc. and now trading as FIRY on NYSE, reported Q2 2026 revenue of $31.0 million, up 23% year over year and 6% sequentially, led by RZR, which passed $10 million in quarterly revenue for the first time and delivered its fourth consecutive profitable quarter. GAAP net loss widened to $24.5 million from $17.9 million a year earlier on $10.9 million of litigation expense, but Adjusted EBITDA loss excluding litigation narrowed to $2.7 million from $7.1 million in the first quarter, a 63% sequential improvement. User metrics remain a soft spot, with PMAUs down 20% YoY to 117 thousand and MAUs more than halved to 349 thousand. The litigation update is a major swing factor: in July the court rejected each of Papaya Gaming's post-trial challenges and entered judgment of $719 million in disgorgement of unjust profits plus approximately $10 million in fees and costs. Papaya has since sought a court-supervised payment arrangement in Israel and filed a Chapter 15 petition in Delaware, so actual collectability of the award remains the key open question. On the balance sheet, the company redeemed $80 million of debt in August, leaving roughly $50 million outstanding, and ended June with $164.0 million in cash after a $30.5 million half-year decline. Management also flagged unrecognized value including about $702 million of federal and $280 million of state NOL carryforwards, $15 million still due from the Avia Games settlement, its Las Vegas building, and a 10% stake in Exit Games.
Firy Inc. (formerly Skillz Inc.) disclosed in an 8-K that on August 4, 2026 it delivered a notice of partial redemption for $80.0 million in aggregate principal amount of its 10.250% Secured Notes due 2026, with the redemption occurring on August 14, 2026 at 100.000% of principal plus accrued and unpaid interest. As of August 4, 2026, $129,671,000 of the Notes were outstanding, so the redemption retires roughly 62% of the issue and eliminates the 10.250% coupon on the redeemed principal. UMB Bank, N.A. is serving as trustee for the Notes and paying agent for the redemption. The paydown is a meaningful deleveraging step that cuts interest expense on the retired high-cost debt, though approximately $49.7 million of the notes remain outstanding and mature in 2026. The filing was made under Item 8.01 (Other Events), and the cover page now shows the company's new FIRY ticker on the NYSE.
SKLZ: 8-K · litigation
On July 27, 2026, Judge Denise Cote of the United States District Court for the Southern District of New York entered an Opinion and Order stating that the court will enter judgment against Papaya Gaming for $719 million in disgorgement of unjust profits to Firy Inc.'s subsidiary, Skillz Platform Inc. This ruling stems from a 2024 lawsuit alleging violations of the federal Lanham Act and New York General Business Law regarding false advertising. The judgment award is $299 million higher than the $420 million actual damages awarded by a federal jury in April 2026. The court also awarded the company approximately $10 million in attorney's fees for 2024 and 2025, while rejecting all of Papaya's post-trial challenges to the verdict. Despite the favorable ruling, Firy Inc. noted that no assurance can be given regarding the timing or amount of any ultimate recovery. The company intends to vigorously pursue full collection of the judgment, though further proceedings or appeals may impact the final outcome.
SKLZ: 8-K · proxy statement
Firy Inc. held its 2026 Annual Meeting of Stockholders on June 18, 2026, where shareholders voted to elect eight directors and ratify the appointment of the independent auditor. All eight director nominees, including Andrew Paradise and Anthony Cabot, were elected with overwhelming support, receiving significantly more votes for than against. Stockholders also approved an amendment to the Skillz Inc. 2020 Omnibus Incentive Plan to increase the number of shares authorized for issuance under the plan.
SKLZ: 8-K · ticker change
Skillz Inc. has changed its corporate name to Firy Inc., effective June 18, 2026, following the filing of a Certificate of Amendment with the Delaware Secretary of State. The Name Change did not require the approval of the Company’s stockholders and does not affect their rights. In connection with the rebranding, the company announced that its Class A common stock will cease trading under the symbol "SKLZ" and begin trading under the new ticker symbol "FIRY" on the New York Stock Exchange, effective June 22, 2026. The CUSIP number for the Class A common stock remains unchanged. The Board of Directors also approved an amendment and restatement of the Company’s Amended and Restated Bylaws solely to reflect the new corporate name, which became effective on June 18, 2026.
Skillz Inc. has officially changed its corporate name to Firy Inc., effective June 18, 2026, as detailed in a Form 8-K filing. The company plans to present strategic information regarding this rebrand at its upcoming annual meeting of stockholders. Alongside the name change, Firy released an investor presentation outlining a bullish financial outlook, projecting total revenue will more than double from $104 million in 2025 to $258 million by 2028. The presentation emphasizes a turnaround strategy focused on financial discipline and the integration of its RZR advertising technology and Skillz gaming platforms. A significant highlight in the deck is the disclosure of a favorable federal jury verdict against Papaya Gaming, Ltd. The jury recommended damages ranging from $420 million to over $1.4 billion related to the litigation, though the final awarded amount remains subject to judicial determination. Segment performance detailed in the presentation shows the RZR business unit achieving $32.1 million in trailing twelve-month revenue, a 157% increase year-over-year. Meanwhile, the core Skillz platform generated $80.5 million in LTM revenue, representing a 4% growth rate during the same period.
Skillz Inc. announced it will change its corporate name to Firy Inc. effective June 18, 2026, with its Class A common stock beginning to trade under the new ticker symbol FIRY on the NYSE on June 22, 2026. The rebranding is accompanied by a release of limited information regarding reorganized business segments, attached as Exhibit 99.1, which includes definitions for Adjusted EBITDA and references to ongoing litigation with entities such as AviaGames, Papaya, and Tether. No action is required by existing stockholders, and the CUSIP number for the Class A common stock will remain unchanged.
Skillz Inc. announced the appointment of Robert Alex Walsh as its new Chief Financial Officer, effective July 13, 2026. Walsh succeeds Gaetano Franceschi, who will step down from the role after providing advisory services through September 30, 2026. Walsh brings extensive experience from the gaming and consumer goods sectors, having previously served as CFO of Aristocrat Gaming and in senior finance roles at The LEGO Group and Procter & Gamble. His appointment signals a transition in financial leadership as the company moves forward. Under his offer letter, Walsh will receive a base salary of $450,000, a target annual bonus of $450,000, and equity awards with a combined grant date value of $400,000. The compensation package includes both time-based restricted stock units and performance-based stock units vesting over three years.
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SKLZ: 10-Q · periodic report
Skillz Inc. reported Q1 2026 revenue of $29.1 million, a 33% increase year-over-year, driven by a 120% surge in its RZR advertising segment which turned profitable with $2.0 million in adjusted EBITDA. The core Skillz gaming segment grew revenue 12% to $19.7 million but continued to post a significant adjusted EBITDA loss of $14.8 million, resulting in a consolidated net loss of $10.9 million. The company holds $185.4 million in cash against $129.7 million in senior secured notes maturing in December 2026, providing a comfortable liquidity cushion. However, management disclosed that internal controls over financial reporting remain ineffective due to material weaknesses, a recurring issue that raises governance concerns for investors. Litigation risks remain elevated, highlighted by a recent jury verdict awarding Skillz $420 million in damages against competitor Papaya Gaming, though the final amount is pending judicial decision. Simultaneously, Skillz is engaged in active litigation with major partner Tether, which terminated its agreements in late 2025, threatening the removal of top-grossing games Solitaire Cube and 21 Blitz from the platform.
Skillz Reports First Quarter 2026 Results
Skillz reported Q1 2026 revenue of $29.1 million, a 33% increase year-over-year, driven by higher engagement and monetization metrics. The company highlighted a landmark legal victory where a federal jury awarded Skillz $420 million in actual damages against competitor Papaya Gaming for false advertising, with total potential awards reaching over $1.2 billion. Normalized adjusted EBITDA improved 15% quarter-over-quarter, and the RZR business delivered its third consecutive quarter of profitability, while the company ended the period with $185 million in cash.
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Skillz expressed satisfaction with a jury verdict, stating that the jury's decision reflected a careful consideration of the facts. The company took the opportunity to reaffirm its commitment to fair competition and maintaining a trusted, transparent experience for its platform's users and developers. The press release did not disclose specific financial terms or the nature of the case beyond the company's positive reaction to the outcome.
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Skillz Reports 2025 Fourth Quarter and Full Year 2025 Results
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