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Mar 31, 2022
Forge Q1 2022 Earnings Report
Forge Global Holdings, Inc. reported financial results for the quarter ended March 31, 2022.
Key Takeaways
Forge Global Holdings reported a decrease in revenue to $19.9 million compared to $31.1 million in the same quarter last year. The company experienced an operating loss of $38.8 million and a net loss of $64.4 million, impacted by one-time expenses related to the business combination.
Revenue was $19.9 million, compared to $31.1 million in the quarter ended March 31, 2021.
Operating loss was $38.8 million, compared to an operating gain of $2.2 million in the quarter ended March 31, 2021, including $27.2 million of one-time expenses.
Net loss was $64.4 million, compared to a net gain of $938 thousand in the quarter ended March 31, 2021, including $58.6 million in one-time and non-cash expenses.
Adjusted EBITDA was a loss of $7.1 million, compared to an Adjusted EBITDA gain of $5.0 million in the quarter ended March 31, 2021.
Forward Guidance
Given the present volatility and uncertain market conditions, Forge will neither re-affirm the full-year 2022 revenue outlook previously provided in February 2022 prior to completion of the business combination nor provide any guidance at this point in time.
Historical Earnings Impact
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