Firy Inc. (FIRY)

From the record

Firy Inc.'s filings since 2020 show 19 warning events of 4 kinds: a notice about its exchange listing (8-K item 3.01, 5 times, the latest 2025-10-01); a warning not to rely on past financial statements (8-K item 4.02, 2 times, the latest 2023-03-24); an auditor change (8-K item 4.01, 3 times, the latest 2025-12-18); a late-report notice (Form NT 10-K or NT 10-Q, 9 times, the latest 2026-08-17) (its current reports).

From the record

Firy Inc.'s 8 filed years say what it did: revenue went from $51 million in fiscal 2018 to $104 million in fiscal 2025, up 10.9% a year; it rose in 4 of 7 years; the deepest fall was 76% from fiscal 2021 to fiscal 2024; net income was positive in 0 of 8 of those years (its annual reports).

From the record

Return on equity: in the fiscal year ended 2025-12-31, Firy Inc. lost about 63 cents for every dollar of shareholders' money, and gross profitability: its products earned about 31 cents per dollar of everything the company owns (revenue less the cost of revenue). Leverage: it owed about 62 cents per dollar of assets, and net share issuance: its share count shrank 12.6% over the year (the filed statements).

From the record

Firy Inc.'s standing among 68 graded names in its industry family: revenue of $104 million in fiscal 2025 ranks in the bottom 35% by size; a net margin of -67.4% ranks in the bottom 23%; revenue growth of -27.1% a year over the last 3 filed years ranks in the bottom 4% (its annual reports).

From the record

Firy Inc.'s leadership, from its insiders' filings and its current reports: the chief executive on the record is Paradise, Andrew (Chief Executive Officer, as filed), filing under that title since 2020-12-18, 5.9 years (top 28% of its family); the 13 officers and directors filing in the last fifteen months have been on the record a median of 2.8 years (bottom 21%); 18 officer or director changes were reported on Form 8-K since 2023-11-13, against the 13 people in charge now (bottom 7%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.

From the record

Firy Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of $196 million against debt of $0 thousand leaves 66.6% of its assets as net cash, top 8% of its family; cash from operations less capital spending is -71.8% of revenue (bottom 20%); a gross margin of 87.5% (top 10%); research spending of 19.7% of revenue (top 37%) (its annual report).

From the record

Firy Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew -27.1% a year over the last three filed years against 10.9% over all 8, slowing (bottom 6% of its family); the newest year grew 12.5% (top 44%); research spending grew -26.7% a year (bottom 10%); capital spending grew 47.7% a year (top 14%) (its annual reports). Firy Inc. reported 2 lines of business in fiscal 2025: Skillz at $78 million, RZR at $27 million. 1 of 2 grew in the latest filed year, and the largest line is 74% of revenue (its annual report).

From the record

Firy Inc.'s newest year against its own record: revenue of $104 million in fiscal 2025 came in 91.7% above the $55 million its prior three years' pace pointed to (top 12% of its family); net income of $70 million against a prior three-year average of $196 million (bottom 49%); a net margin of -67.4% against -93.3% before (top 29%) (its annual reports).