Firy Inc. expects its RZR segment revenue to nearly double year-over-year in 2026 after a court awarded the company about $730 million in its Papaya litigation. CEO Andrew Paradise said RZR exceeded $10 million in quarterly revenue for the first time and delivered its fourth consecutive quarter of profitability, while the legacy Skillz platform saw declines in paying monthly active users. The company reported second-quarter GAAP revenue of $31 million, a net loss of $24.5 million, and adjusted EBITDA loss of $13.6 million, with litigation-related expenses of nearly $11 million tied to the Papaya trial. Firy is redeeming $80 million in debt, leaving $50 million outstanding due December 15, and ended the quarter with about $164 million in cash and cash equivalents. Management said litigation proceeds are not realized in financial statements until collected and that an appeal would go to the Second Circuit.
FIRYCourt awarded ~$730M in Papaya litigation, boosting financial outlook.
