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Mar 31
Forge Q1 2025 Earnings Report
Estimated Revenue:$23.9M
+27.4% YoY
Estimated EPS:-$0.078
+35.9% YoY
Key Takeaways
Forge Global Holdings, Inc. achieved its highest revenue quarter as a public company in Q1 2025, driven by a significant increase in marketplace revenue and trading volume, indicating improved market dynamics.
Total revenues less transaction-based expenses reached $25.1 million, a 37% increase quarter-over-quarter.
Marketplace revenues less transaction-based expenses increased by 88% quarter-over-quarter to $15.8 million.
Total trading volume surged by 132% quarter-over-quarter to $692.4 million.
Net loss for the quarter was $16.2 million.
Forge
Forge
Forge Revenue by Segment
Revenue by Segment
Marketplace Solutions Revenue
CapyFin.comCustody Solution Revenue
CapyFin.com Forward Guidance
Forge estimates a weighted average basic shares outstanding of 12,295,210 for the quarter ending June 30, 2025, which will be used for calculating earnings per share in a loss position.
Positive Outlook
- Continued momentum in the private market.
- Improved market dynamics attracting new and re-engaged interest.
- Several institutional block trades closed in the quarter.
- Entering into a non-binding letter of intent for the acquisition of Accuidity Capital Management.
- Partnership with ICE to distribute Forge Price™ for greater transparency.
- Partnership with Yahoo Finance to launch the industry's first private market hub.
Challenges Ahead
- Macroeconomic volatility persists.
- Net cash used in operating activities increased quarter-over-quarter.
- Custodial administration fees less transaction-based expenses decreased quarter-over-quarter.
- Custodial Client Cash decreased quarter-over-quarter.
- Net Take Rate decreased quarter-over-quarter.
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Key Statistics
Market Cap
$256M
P/E Ratio
-14.44
Sector
Technology Services
Industry
Data Processing Services
52-Week High
$24.1
52-Week Low
$7.13
Trades
963
Trading Volume
$692M
Net Take Rate
0.02%
Total Custodial Accounts
2.51M
Assets Under Custody
$17.6B