Forge Q2 2024 Earnings Report
Key Takeaways
Forge Global Holdings reported a 15% quarter-over-quarter increase in total revenue less transaction-based expenses, driven by increased trading activity. The company is implementing expense reductions to accelerate its timeline to profitability.
Total Revenue Less Transaction Based Expenses increased to $22.0 million, up 15% quarter-over-quarter and 32% year-over-year.
Total Marketplace Revenues, Less Transaction Based Expenses increased to $11.4 million, up 35% quarter-over-quarter and 103% year-over-year.
Trading Volume increased to $426.3 million, up 62% quarter-over-quarter and 178% year-over-year.
Net Take Rate was 2.7%.
Forge
Forge
Forward Guidance
Forge estimates for the quarter ended September 30, 2024 that Forge will have 184 million weighted average basic shares outstanding, which will be used to calculate earnings per share in a loss position.