Private market platform Forge Global's Q2 revenue rises 10%, beats analyst expectations

Forge Global Holdings

30/07/2025 12:09

Correct revenue in Key Details table to $27.7 mln, from $52.70 mln

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

 (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)