EX-99.1

2 q226firyex991-earningsrele.htm

EX-99.1

Document

FIRY Reports Second Quarter 2026 Results

LAS VEGAS, August 13, 2026 -- Firy Inc. (NYSE: FIRY) (“FIRY” or the “Company”), formerly Skillz Inc., today reported unaudited financial results for the second quarter ended June 30, 2026.

Second Quarter 2026 Financial Highlights (Unaudited):

•Revenue of $31.0 million

•Gross profit of $27.1 million

•Net loss of $24.5 million

•Adjusted EBITDA1 loss of $2.7 million, excluding litigation expense

•Paying monthly active users (PMAUs)2 of 117 thousand

•Average revenue per PMAU (ARPPU)3 of $59.1

•Total operating expenses (which does not include cost of revenue) of $48.6 million

"Q2 2026 was, without question, the most consequential period in the Company's recent history," said FIRY CEO Andrew Paradise. "We completed our rebrand to FIRY and advanced the transition from turnaround to growth. Consolidated revenue of $31.0 million rose 6% sequentially and 23% year over year, led by RZR, which passed $10 million in quarterly revenue for the first time and delivered its fourth consecutive profitable quarter. 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. We intend to pursue the legal rights available to the Company with respect to the Papaya judgment, and will share additional commentary on our call on Friday."

Alex Walsh, FIRY CFO, added, "Our Q2 results demonstrated that the business is moving forward, fueled by RZR's revenue growth and strong operating leverage. Excluding litigation expense, Adjusted EBITDA loss narrowed to $2.7 million from $7.1 million in the first quarter, a 63% sequential improvement. In August we announced the redemption of $80 million of debt, leaving approximately $50 million outstanding, and we are in active dialogue on alternatives to further strengthen our capital structure. We believe we have significant unrecognized value that should be considered, including federal net operating loss carryforwards of approximately $702 million and state net operating loss carryforwards of approximately $280 million, an additional $15 million still to be collected from the Avia Games settlement, our owned Las Vegas building, and our 10% interest in Exit Games."

1. Adjusted EBITDA is a non-GAAP metric; for a reconciliation of each measure against its most comparable GAAP metric, please see the section titled “Use of Non-GAAP Financial Measures” in this press release.

2. “Paying Monthly Active Users” or “PMAUs” means the number of end-users who entered into a paid contest hosted on Skillz’ platform at least once in a month, averaged over each month in the period.

3. “Average Revenue per PMAU” or “ARPPU” means the average revenue in a given month divided by PMAUs in that month, averaged over the period and does not include a deduction for end-user incentives that are included in sales and marketing expense.

Investor Conference Call

FIRY will host a live conference call at 9 a.m. ET on August 14, 2026. To access the call, please register using the following link:

https://events.q4inc.com/analyst/932259116?pwd=5OMBJhd4

After registering, an email will be sent, including dial-in details and a unique conference call access code and PIN required to join the live call. Access to the live audio webcast of the discussion in listen-only mode will also be available at investors.firy.com.

A replay of the webcast will be archived on the Company’s investor relations website.

About Firy Inc.

FIRY is a global holding company built to fuel business potential. Through its growing portfolio, including Skillz, RZR and Beamable, FIRY operates at the intersection of content, identity, commerce and performance marketing. By leveraging first-party data, enterprise-scale infrastructure and scalable operating systems, FIRY enables scalable growth while maintaining a disciplined focus on capital efficiency and long-term value creation.

Use of Non-GAAP Financial Measures

In this press release, the Company includes Adjusted EBITDA, which is a non-GAAP performance measure that the Company uses to supplement its results presented in accordance with U.S. GAAP. The Company’s management believes Adjusted EBITDA is useful in evaluating its operating performance and is a similar measure reported by publicly-listed U.S. competitors, and regularly used by securities analysts, institutional investors, and other interested parties in analyzing operating performance and prospects. By providing this non-GAAP measure, the Company’s management intends to provide investors with a meaningful, consistent comparison of the Company’s profitability for the periods presented. Non-GAAP operating expense is also included in this press release, which is a non-GAAP financial me

EX-99.1

2 q126skillzex991-earningsre.htm

EX-99.1

Document

Skillz Reports First Quarter 2026 Results

LAS VEGAS, May 15, 2026 -- Skillz Inc. (NYSE: SKLZ) (“Skillz” or the “Company”), the leading mobile games platform bringing fair competition to players worldwide, today reported unaudited financial results for the first quarter ended March 31, 2026.

First Quarter 2026 Financial Highlights (Unaudited):

•Revenue of $29.1 million

•Gross profit of $25.5 million

•Net loss of $10.9 million

•Adjusted EBITDA1 loss of $12.8 million

•Paying monthly active users (PMAUs)2 of 128 thousand

•Average revenue per PMAU (ARPPU)3 of $76.0

•Total operating expenses (which does not include cost of revenue) of $41.8 million

"Our plan was to improve our operating businesses and to stop fraud in our core industry. In Q1, we made progress in both," Skillz CEO Andrew Paradise said. "In April, a unanimous federal jury in the Southern District of New York found Papaya Gaming liable for false advertising and awarded Skillz $420 million in actual damages, the largest such verdict in U.S. history under the Lanham Act, with a total potential award ranging from $420 million to over $1.2 billion depending on the Court's final determinations. The parties have been ordered to engage in settlement discussions, and we expect the Court to rule on the final award in June. We will update our shareholders when we know more."

Gaetano Franceschi, Skillz’ CFO, added, "Our Q1 results reflect stronger fundamentals across both the Skillz and RZR businesses. Excluding litigation-related expenses, adjusted EBITDA improved 15% quarter-over-quarter on a normalized basis, and RZR delivered its third consecutive quarter of profitability. We ended the quarter with $185 million in cash and continue to evaluate strategic alternatives to optimize our capital structure as we progress toward sustained profitability."

1. Adjusted EBITDA is a non-GAAP metric; for a reconciliation of each measure against its most comparable GAAP metric, please see the section titled “Use of Non-GAAP Financial Measures” in this press release.

2. “Paying Monthly Active Users” or “PMAUs” means the number of end-users who entered into a paid contest hosted on Skillz’ platform at least once in a month, averaged over each month in the period.

3. “Average Revenue per PMAU” or “ARPPU” means the average revenue in a given month divided by PMAUs in that month, averaged over the period and does not include a deduction for end-user incentives that are included in sales and marketing expense.

Investor Conference Call

Skillz will host a live conference call at 4:30 p.m. ET on May 19, 2026. To access the call, please register using the following link:

https://registrations.events/direct/Q4I45394398

After registering, an email will be sent, including dial-in details and a unique conference call access code and PIN required to join the live call. Access to the live audio webcast of the discussion in listen-only mode will also be available at investors.skillz.com.

A replay of the webcast will be archived on the Company’s investor relations website. An audio replay of the conference call will be available through Tuesday, May 26, 2026, and can be accessed by dialing +1 800-770-2030 and entering the passcode 45394.

About Skillz Inc.

Skillz is the leading mobile games platform dedicated to bringing out the best in everyone through competition. The Skillz platform helps developers create multi-million dollar franchises by enabling social competition in their games. Leveraging its patented technology, Skillz hosts billions of casual eSports tournaments for millions of mobile players worldwide, with the goal of building the home of competition for all. Skillz has earned recognition as one of Fast Company’s Best Workplaces for Innovators, CNBC’s Disruptor 50, Forbes’ Next Billion-Dollar Startups, Fast Company’s Most Innovative Companies, and the number-one fastest-growing company in America on the Inc. 5000. Please visit www.skillz.com to learn more.

Use of Non-GAAP Financial Measures

In this press release, the Company includes Adjusted EBITDA, which is a non-GAAP performance measure that the Company uses to supplement its results presented in accordance with U.S. GAAP. The Company’s management believes Adjusted EBITDA is useful in evaluating its operating performance and is a similar measure reported by publicly-listed U.S. competitors, and regularly used by securities analysts, institutional investors, and other interested parties in analyzing operating performance and prospects. By providing this non-GAAP measure, the Company’s management intends to provide investors with a meaningful, consistent comparison of the Company’s profitability for the periods presented. Non-GAAP operating expense is also included in this press release, which is a non-GAAP financial measure. The Company’s management believes non-GAAP operating expense is useful to investors and analysts as a supplement to its

EX-99.1

2 q425skillzex991-earningsre.htm

EX-99.1

Document

Skillz Reports 2025 Fourth Quarter and Full Year 2025 Results

LAS VEGAS, March 31, 2026 -- Skillz Inc. (NYSE: SKLZ) (“Skillz” or the “Company”), the leading mobile games platform bringing fair competition to players worldwide, today reported financial results for the fourth quarter and fiscal year ended December 31, 2025.

Fourth Quarter 2025 Financial Highlights:

•Revenue of $30.0 million

•Gross profit of $26.5 million

•Net loss of $17.9 million

•Adjusted EBITDA1 loss of $10.0 million

•Paying monthly active users (PMAUs)2 of 141 thousand

•Average revenue per PMAU (ARPPU)3 of $71.1

•Total operating expenses (which does not include cost of revenue) of $42.7 million

Full Year 2025 Financial Highlights:

•Revenue of $104.5 million

•Gross profit of $91.4 million

•Net loss of $70.4 million

•Adjusted EBITDA1 loss of $50.5 million

•Paying monthly active users (PMAUs)2 of 141 thousand

•Average revenue per PMAU (ARPPU)3 of $61.7

•Total operating expenses (which does not include cost of revenue) of $162.9 million

•Cash and cash equivalents of $194.5 million as of December 31, 2025

•Total outstanding debt of $129.7 million as of December 31, 2025

“Throughout 2025, we made meaningful progress executing against our strategic priorities, delivering four consecutive quarters of sequential revenue growth and returning to year-over-year growth in the second half of the year,” said Andrew Paradise, Skillz’ CEO. “Our AI ad-tech segment, RZR, recently rebranded from Aarki, delivered significant growth and achieved positive Adjusted EBITDA for the full year, reflecting the strength of its platform and operating discipline. Paired with continued improvement across the Skillz platform, we are building a more integrated system designed to scale engagement, monetization, and long-term value.”

Gaetano Franceschi, Skillz’ CFO, added, “Our 2025 results reflect improved execution and stronger fundamentals across both the Skillz and RZR businesses. We delivered revenue growth and a 16% year-over-year improvement in Adjusted EBITDA, while continuing to invest in product innovation and marketing with discipline. We ended the year with $195 million in cash and cash equivalents, and remain focused on optimizing our capital structure as we move toward sustained profitability and long-term value creation.”

1. Adjusted EBITDA is a non-GAAP metric; for a reconciliation of each measure against its most comparable GAAP metric, please see the section titled “Use of Non-GAAP Financial Measures” in this press release.

2. “Paying Monthly Active Users” or “PMAUs” means the number of end-users who entered into a paid contest hosted on Skillz’ platform at least once in a month, averaged over each month in the period.

3. “Average Revenue per PMAU” or “ARPPU” means the average revenue in a given month divided by PMAUs in that month, averaged over the period and does not include a deduction for end-user incentives that are included in sales and marketing expense.

Investor Conference Call

Skillz will host a live conference call at 4:30 p.m. ET on April 1, 2026. To access the call, please register using the following link:

https://www.netroadshow.com/events/login?show=204d9fc3&confId=77995

After registering, an email will be sent, including dial-in details and a unique conference call access code and PIN required to join the live call. Access to the live audio webcast of the discussion in listen-only mode will also be available at investors.skillz.com.

A replay of the webcast will be archived on the Company’s investor relations website. An audio replay of the conference call will be available through Thursday, April 7, 2026, and can be accessed by dialing (866) 813-9403 (US) or (929) 458-6194 (international) and entering the passcode 575328.

About Skillz Inc.

Skillz is the leading mobile games platform dedicated to bringing out the best in everyone through competition. The Skillz platform helps developers create multi-million dollar franchises by enabling social competition in their games. Leveraging its patented technology, Skillz hosts billions of casual eSports tournaments for millions of mobile players worldwide, with the goal of building the home of competition for all. Skillz has earned recognition as one of Fast Company’s Best Workplaces for Innovators, CNBC’s Disruptor 50, Forbes’ Next Billion-Dollar Startups, Fast Company’s Most Innovative Companies, and the number-one fastest-growing company in America on the Inc. 5000. Please visit www.skillz.com to learn more.

Use of Non-GAAP Financial Measures

In this press release, the Company includes Adjusted EBITDA, which is a non-GAAP performance measure that the Company uses to supplement its results presented in accordance with U.S. GAAP. The Company’s management believes Adjusted EBITDA is useful in evaluating its operating performance and is a similar measure reported by publicly-listed U.S. competitors, and regul