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Dec 31, 2024
Forge Q4 2024 Earnings Report
Forge reported a decline in revenue and a net loss for Q4 2024.
Key Takeaways
Forge Global Holdings reported Q4 2024 revenue of $18.3 million, a slight decrease from the previous quarter. Net loss was $16.0 million, with an EPS loss of $0.08. The company's trading volume declined by 12% quarter-over-quarter, but assets under custody grew by 2%. Operating expenses saw a decrease, improving adjusted EBITDA loss.
Total revenue for Q4 2024 was $18.3 million, down from $19.1 million in Q3.
Net loss for the quarter was $16.0 million, an improvement from $18.8 million in Q3.
Trading volume declined by 12% quarter-over-quarter to $298.5 million.
Assets under custody increased by 2% to $16.9 billion.
Forge
Forge
Forward Guidance
Forge expects continued challenges in trading volume but aims for revenue stability through new product offerings and cost control.
Positive Outlook
- Launch of Forge Price, providing indicative pricing for pre-IPO companies.
- Share repurchase program authorized up to $10 million.
- Increased adoption of Forge Accuidity Private Market Index.
- Steady growth in custodial accounts and assets under custody.
- Improving market conditions could drive higher deal activity.
Challenges Ahead
- Trading volume decline may continue in the short term.
- Net loss expected to persist due to ongoing investments in technology.
- Custodial administration fee revenue remains under pressure.
- Market uncertainty affecting investor sentiment in private securities.
- Competitive landscape remains challenging with new entrants in the space.