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Firy
(NYSE:FIRY)
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Rating:49Neutral
Price Target:
$10.00
▲(81.49% Upside)
Action:Reiterated
Date:06/24/26
The score is held down primarily by weak financial performance—large losses, significant cash burn, and leverage with a near-term debt maturity. Technicals are moderately constructive (above key longer-term averages with positive MACD), and the earnings call indicates improving unit economics and strategic progress, but legal and liquidity uncertainties and still-negative profitability keep the overall score below average.
Positive Factors
Very high gross margins
Sustained ~88% gross margins indicate a highly scalable, low-variable-cost platform. That structural margin advantage gives the company room to absorb user-acquisition and operating investments while improving unit economics, supporting a viable path to sustained profitability as revenues grow.
Negative Factors
Weak cash generation / negative free cash flow
Persistent negative operating and free cash flow of roughly -$65M TTM indicates ongoing cash burn and funding needs. Over 2–6 months this constrains strategic optionality, forces dependence on external financing or asset sales, and heightens vulnerability to adverse funding or market conditions.
Read all positive and negative factors
Positive Factors
Negative Factors
Very high gross margins
Sustained ~88% gross margins indicate a highly scalable, low-variable-cost platform. That structural margin advantage gives the company room to absorb user-acquisition and operating investments while improving unit economics, supporting a viable path to sustained profitability as revenues grow.
Read all positive factors
Firy Key Performance Indicators (KPIs)
Any
Monthly Active Users
Measures the number of unique users engaging with Skillz's platform each month, indicating the platform's popularity and user retention capabilities.
Measures the number of unique users engaging with Skillz's platform each month, indicating the platform's popularity and user retention capabilities.
Data provided by:
The Fly
The FlyFiry (FIRY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$148.58M
Dividend YieldN/A
Average Volume (3M)451.76K
Price to Earnings (P/E)―
Beta (1Y)2.35
Revenue Growth21.25%
EPS Growth-77.13%
CountryUS
Employees370
SectorCommunication Services
Sector Strength97
IndustrySoftware - Services
Share Statistics
EPS (TTM)-4.28
Shares Outstanding12,177,494
10 Day Avg. Volume213,630
30 Day Avg. Volume451,758
Financial Highlights & Ratios
PEG Ratio-0.01
Price to Book (P/B)0.60
Price to Sales (P/S)0.64
P/FCF Ratio-0.96
Enterprise Value/Market Cap0.49
Enterprise Value/Revenue0.66
Enterprise Value/Gross Profit0.75
Enterprise Value/Ebitda-1.59
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-3.07
Revenue Forecast (FY)$131.40M
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....
How the Company Makes Money
Skillz primarily makes money by monetizing gameplay on its platform through entry fees paid by players to participate in competitive matches and tournaments within Skillz-enabled games. From these entry fees, Skillz generally retains a portion as ...
Firy Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
40
Negative
Cash Flow
22
Negative
| Breakdown | Mar 2026 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 104.50M | 95.47M | 152.08M | 269.71M | 380.15M |
| Gross Profit | 91.45M | 82.06M | 136.70M | 238.99M | 354.91M |
| EBITDA | -53.67M | -92.78M | -96.31M | -394.80M | -194.18M |
| Net Income | -70.41M | -48.23M | -101.36M | -438.88M | -187.93M |
Balance Sheet | |||||
| Total Assets | 293.45M | 364.17M | 395.83M | 621.29M | 1.02B |
| Cash, Cash Equivalents and Short-Term Investments | 194.51M | 281.92M | 302.03M | 489.78M | 560.39M |
| Total Debt | 128.72M | 136.54M | 136.70M | 288.38M | 297.01M |
| Total Liabilities | 181.63M | 192.58M | 185.34M | 342.89M | 411.96M |
| Stockholders Equity | 111.82M | 171.59M | 210.49M | 278.40M | 609.16M |
Cash Flow | |||||
| Free Cash Flow | -70.33M | -9.58M | -84.99M | -181.49M | -183.39M |
| Operating Cash Flow | -68.93M | -7.07M | -71.76M | -179.60M | -180.15M |
| Investing Cash Flow | -6.14M | -1.63M | 168.30M | 311.39M | -643.92M |
| Financing Cash Flow | -10.97M | -21.29M | -149.95M | -10.61M | 802.68M |
Firy Technical Analysis
Positive
5.51
Price Trends
7.67
Positive
5.41
Positive
5.68
Positive
Market Momentum
0.32
Positive
58.73
Neutral
55.89
Neutral
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 5.51 is below the 20-day moving average (MA) of 8.98, below the 50-day MA of 7.67, and below the 200-day MA of 5.68, indicating a bullish trend. The MACD of 0.32 indicates Positive momentum. The RSI at 58.73 is Neutral, neither overbought nor oversold. The STOCH value of 55.89 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.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Firy Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
54 Neutral | $217.81M | 3.07 | -60.77% | 18.48% | ― | ― | |
54 Neutral | $59.34M | -1.74 | -15.65% | ― | -15.86% | -16.59% | |
52 Neutral | $1.46B | -5.07 | 113.59% | 9.98% | 7.30% | -307.46% | |
49 Neutral | $148.58M | -2.39 | -55.16% | ― | 21.25% | -77.13% |
* Communication Services Sector Average
FIRY
Firy
10.25
3.21
45.60%
NCTY
The9
5.05
-2.72
-35.01%
GDEV
Nexters
12.14
-3.05
-20.08%
MYPS
PLAYSTUDIOS
0.49
-0.88
-64.23%
PLTK
Playtika Holding
3.91
-0.73
-15.77%
Firy Corporate Events
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
Firy Shareholders Approve Directors, Auditor and Incentive Plan
Positive
Jun 23, 2026
Firy Inc. held its 2026 Annual Meeting of Stockholders on June 18, 2026, with 12,435,460 Class A and 3,430,063 Class B shares outstanding as of the April 24, 2026 record date, and all Class B shares carrying 20 votes each. Stockholders elected all...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
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.