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Forge Global 2025 Q1 Earnings Strong Revenue Growth as Net Loss Narrows
Generated by AI AgentAinvest Earnings Report Digest
Thursday, May 8, 2025 6:44 am ET2min read
Forge Global (FRGE) reported its fiscal 2025 Q1 earnings on May 7th, 2025. The company exceeded expectations by achieving its highest revenue quarter as a public company, driven by strong marketplace activity. Forge's guidance for the next quarter remains in-line with previous estimates, maintaining focus on private market momentum and institutional investor engagement. The company anticipates a continued increase in trading volume and marketplace revenues.
Revenue
Forge Global demonstrated a substantial increase in total revenue, rising by 31.5% to reach $25.30 million in Q1 2025 compared to $19.24 million in Q1 2024. Marketplace revenue was the primary driver, amassing $16 million, while custodial administration fees contributed $9.30 million. The collective growth marks a robust financial performance for .
Earnings/Net Income
Forge Global improved its earnings per share, narrowing losses to $1.29 per share from a previous $1.55 per share, marking a 16.8% improvement. Net loss also decreased by 14.7% to $16.20 million compared to $18.99 million last year. The narrowed losses indicate positive financial progress but continued challenges in achieving profitability.
Price Action
The stock price of Forge Global has climbed 6.77% during the latest trading day, dropped 7.45% during the most recent trading week, and surged 2610.19% month-to-date.
Post-Earnings Price Action Review
The strategy of purchasing Forge Global shares after a quarter of revenue growth and holding them for 30 days has proven effective, yielding a 38.63% gain over five years. This approach capitalizes on Forge’s consistent revenue growth trajectory, providing a stable basis for predictions and reducing volatility in returns. The short-term holding period aligns liquidity needs with capital appreciation potential, as initial revenue surges often trigger market optimism that drives stock prices higher. Positive market sentiment and institutional interest, underpinned by Forge's strong market position and technological advancements, have further supported this strategy's success. While historical performance has been favorable, investors must consider current market conditions and company fundamentals for future investment decisions.
CEO Commentary
"In Q1, we achieved our best revenue quarter as a public company – driven largely by an improvement in our marketplace revenue," said Kelly Rodriques, CEO of Forge Global. "Revenue for the quarter totaled $25.1 million while marketplace revenue contributed $15.8 million on trading volume of nearly $700 million. The increase in revenue and volume was fueled by improved market dynamics that drove a diversity of new and re-engaged interest to our platform, as well as several institutional block trades that closed in the quarter. We’re encouraged by the continued momentum of the private market even amid macroeconomic volatility."
Guidance
Forge estimates for the quarter ended June 30, 2025, that it will have 12,295,210 weighted average basic shares outstanding, which will be used to calculate earnings per share in a loss position. The company remains focused on maintaining momentum in the private market and anticipates further engagement from institutional investors, contributing to continued growth in trading volume and marketplace revenues.
Additional News
In recent developments, Forge Global entered into a non-binding letter of intent to acquire Accuidity Capital Management, which is expected to bring new recurring revenue streams and help achieve adjusted EBITDA breakeven by 2026. The acquisition includes an initial purchase of $10 million in cash and 1.15 million shares of Forge common stock, with additional earn-out considerations based on future milestones. Additionally, Forge announced the appointment of Greg Lee to oversee its trading and data platform, bringing over two decades of leadership experience in global financial institutions. This strategic appointment aims to enhance Forge's trading and execution strategies. Furthermore, Forge has regained compliance with NYSE's continued listing requirements, ensuring its ongoing presence on the exchange.
Revenue
Forge Global demonstrated a substantial increase in total revenue, rising by 31.5% to reach $25.30 million in Q1 2025 compared to $19.24 million in Q1 2024. Marketplace revenue was the primary driver, amassing $16 million, while custodial administration fees contributed $9.30 million. The collective growth marks a robust financial performance for .
Earnings/Net Income
Forge Global improved its earnings per share, narrowing losses to $1.29 per share from a previous $1.55 per share, marking a 16.8% improvement. Net loss also decreased by 14.7% to $16.20 million compared to $18.99 million last year. The narrowed losses indicate positive financial progress but continued challenges in achieving profitability.
Price Action
The stock price of Forge Global has climbed 6.77% during the latest trading day, dropped 7.45% during the most recent trading week, and surged 2610.19% month-to-date.
Post-Earnings Price Action Review
The strategy of purchasing Forge Global shares after a quarter of revenue growth and holding them for 30 days has proven effective, yielding a 38.63% gain over five years. This approach capitalizes on Forge’s consistent revenue growth trajectory, providing a stable basis for predictions and reducing volatility in returns. The short-term holding period aligns liquidity needs with capital appreciation potential, as initial revenue surges often trigger market optimism that drives stock prices higher. Positive market sentiment and institutional interest, underpinned by Forge's strong market position and technological advancements, have further supported this strategy's success. While historical performance has been favorable, investors must consider current market conditions and company fundamentals for future investment decisions.
CEO Commentary
"In Q1, we achieved our best revenue quarter as a public company – driven largely by an improvement in our marketplace revenue," said Kelly Rodriques, CEO of Forge Global. "Revenue for the quarter totaled $25.1 million while marketplace revenue contributed $15.8 million on trading volume of nearly $700 million. The increase in revenue and volume was fueled by improved market dynamics that drove a diversity of new and re-engaged interest to our platform, as well as several institutional block trades that closed in the quarter. We’re encouraged by the continued momentum of the private market even amid macroeconomic volatility."
Guidance
Forge estimates for the quarter ended June 30, 2025, that it will have 12,295,210 weighted average basic shares outstanding, which will be used to calculate earnings per share in a loss position. The company remains focused on maintaining momentum in the private market and anticipates further engagement from institutional investors, contributing to continued growth in trading volume and marketplace revenues.
Additional News
In recent developments, Forge Global entered into a non-binding letter of intent to acquire Accuidity Capital Management, which is expected to bring new recurring revenue streams and help achieve adjusted EBITDA breakeven by 2026. The acquisition includes an initial purchase of $10 million in cash and 1.15 million shares of Forge common stock, with additional earn-out considerations based on future milestones. Additionally, Forge announced the appointment of Greg Lee to oversee its trading and data platform, bringing over two decades of leadership experience in global financial institutions. This strategic appointment aims to enhance Forge's trading and execution strategies. Furthermore, Forge has regained compliance with NYSE's continued listing requirements, ensuring its ongoing presence on the exchange.
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