CORRECTED-Private market platform Forge Global's Q2 revenue rises 10%, beats analyst expectations
Overview
Forge Q2 revenue rises 10% qtr/qtr, beating analyst expectations, per LSEG data
Adjusted EBITDA loss improves to $5.4 mln, beating analyst expectations, per LSEG data
Forge launches Next Generation Marketplace, completes Accuidity acquisition
Outlook
Forge expects 2H25 revenue growth in line with H1
Company anticipates 3Q revenues lower than 2Q due to seasonality
Result Drivers
REVENUE GROWTH - Forge attributes 10% qtr/qtr revenue increase to launch of Next Generation Marketplace and rising demand across trading, data, custody, and wealth verticals
EBITDA IMPROVEMENT - Adjusted EBITDA loss improved to $5.4 mln, lowest as public company, driven by strategic positioning and Next Generation Strategy
TRADING VOLUME - Trading volume surged 77% yr/yr, indicating strong market activity
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Beat | $27.7 mln | $21.30 mln (5 Analysts) |
Q2 Adjusted EPS | Beat | -$0.99 | -$1.17 (6 Analysts) |
Q2 EPS |
| -$1.34 |
|
Q2 Net Income |
| -$16.60 mln |
|
Q2 Adjusted EBITDA | Beat | -$5.40 mln | -$8.65 mln (6 Analysts) |
Q2 Operating Cash Flow |
| $7.80 mln |
|
Q2 Operating Income |
| -$12.80 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the financial technology (fintech) peer group is "buy"
Wall Street's median 12-month price target for Forge Global Holdings Inc is $30.00, about 44.4% above its July 29 closing price of $16.67
Press Release: ID:nBw7bHJGxa
