Firy (FIRY) Q4 2024 earnings summary

Executive summary

• Revenue for Q4 2024 was $20.4 million, with a net loss of $26.4 million; full-year revenue was $95.5 million and net loss $48.2 million.

• Focused on platform enhancement, organizational scaling, go-to-market optimization, and path to profitability.

• Launched a $75 million Developer Accelerator program to drive game innovation and expand offerings.

• Advocated for fair play in gaming, highlighting ongoing litigation against competitors using bots.

• Paying monthly active users improved sequentially from November 2024 through February 2025.

Financial highlights

• Q4 revenue was $20.4 million, down 35% year over year; full-year revenue was $95.5 million.

• Net loss for Q4 was $26.4 million, a significant improvement from $60 million in Q4 2023.

• Adjusted EBITDA loss for Q4 was $18.5 million; full-year adjusted EBITDA loss was $63 million, improved from $69 million in 2023.

• Ended the year with $281.9 million in cash, cash equivalents, and restricted cash.

• Gross profit for Q4 was $17.1 million; full-year gross profit reached $82.1 million.

Outlook and guidance

• Continued focus on returning to consistent top-line growth and achieving positive adjusted EBITDA.

• Expense management and strategic investment expected to support sustainable, profitable growth.

• Strong balance sheet provides flexibility for continued investment in key initiatives.