Filing Flows › Firy (FIRY) › Q1 2025
Firy (FIRY) Q1 2025 earnings results (first quarter 2025)
10-Q filed Dec 11, 2025
Firy (FIRY) reported revenue of $21.9M for the first quarter 2025 (Q1 2025), -13% from a year earlier and +23% from the quarter before. Operating margin was -70.7%, net loss $17.1M (78.3% of revenue).
Firy, Q1 2025: revenue $21.9M (-13% year over year), operating margin -70.7%, net loss $17.1M, operating cash flow −$10.9M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $21.9M | +23% | -13% |
| Operating profit | −$15.5M | — | — |
| Net earnings | −$17.1M | — | — |
| Operating cash flow | −$10.9M | — | — |
What changed
Revenue was $21.9M in Q1 2025, down 13% year over year and up 23% from the previous quarter. Entry Fee Revenue was the largest line at 78% of revenue. Entry Fee Revenue lost $4.6M year over year (down 21%), 139% of the total change.
Operating costs exceeded revenue by $15.5M, an operating margin of -70.7%. Total costs fell 28% while revenue fell 13%. The quarter ended with a net loss of $17.1M, narrower than the previous quarter's $25.0M loss.
Operating cash flow was −$10.9M. Non-cash charges added back $167K of depreciation and amortization and $5.5M of share-based compensation. Capital expenditures of $1.7M exceeded it, leaving free cash flow of −$12.6M.
Questions
What was Firy's revenue in the first quarter 2025?
Firy (FIRY) reported revenue of $21.9M for the first quarter 2025 (Q1 2025), -13% from a year earlier and +23% from the quarter before.
Was Firy profitable in the first quarter 2025?
Operating loss was $15.5M (-70.7% of revenue) and net loss $17.1M.
Source: Firy 10-Q on SEC EDGAR.