Forge Global Holdings, Inc. (FRGE) Financial Statements
$45.00NYSE: FRGEMarket Cap $623.01M
Forge Global Holdings, Inc. most recently reported annual revenue of $79.0M, a net loss of $66.0M. Revenue grew at an average annual rate of 26.9% over the last 5 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.
Forge Global Holdings, Inc.: Revenue rose from $24.0M in 2019 to $79.0M in 2024, a change of +229.2% over 5 years; net profit was positive in 0 of 6 reported years; operating margin moved from -60.9% to -103.7%, a shift of -42.8 percentage points; the most recent year shows a net loss of $66.0M.
Income Statement — 6 Years (USD millions)
Metric
2019
2020
2021
2022
2023
2024
Revenue
$24.0M
$48.0M
$128.0M
$69.0M
$70.0M
$79.0M
Operating Expenses
$39.0M
$55.0M
$138.0M
$204.0M
$161.0M
$162.0M
Operating Profit
$-15.0M
$-8.0M
$-10.0M
$-135.0M
$-91.0M
$-82.0M
Operating Margin
-60.9%
-15.9%
-7.6%
-194.6%
-131.0%
-103.7%
Other Income
$0
$-3.0M
$-8.0M
$23.0M
$1.0M
$15.0M
Interest
$0
$2.0M
$2.0M
$0
$0
$0
Depreciation
$2.0M
$4.0M
$5.0M
$4.0M
$10.0M
$9.0M
Profit Before Tax
$-15.0M
$-11.0M
$-18.0M
$-112.0M
$-91.0M
$-67.0M
Tax
$-660,000
$7.6M
$-2.1M
$-290,000
$-900,000
$-1.6M
Net Profit
$-15.0M
$-10.0M
$-18.0M
$-112.0M
$-90.0M
$-66.0M
EPS
$-4.42
$-3.42
$-5.11
$-11.98
$-7.80
$-5.43
Dividend Payout
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
Quarterly Results — Last 12 Quarters (USD millions)
8 duplicate period labels in the source data were collapsed.
Metric
Dec '22
Mar '23
Jun '23
Sep '23
Dec '23
Mar '24
Jun '24
Sep '24
Dec '24
Mar '25
Jun '25
Sep '25
Revenue
$17.0M
$15.0M
$17.0M
$19.0M
$19.0M
$19.0M
$22.0M
$19.0M
$19.0M
$25.0M
$28.0M
$21.0M
Operating Expenses
$45.0M
$38.0M
$39.0M
$40.0M
$43.0M
$44.0M
$40.0M
$40.0M
$37.0M
$42.0M
$41.0M
$42.0M
Operating Profit
$-28.0M
$-23.0M
$-23.0M
$-22.0M
$-24.0M
$-25.0M
$-18.0M
$-21.0M
$-19.0M
$-16.0M
$-13.0M
$-20.0M
Operating Margin
-165.3%
-148.6%
-134.9%
-115.9%
-128.1%
-130.0%
-79.2%
-108.8%
-100.6%
-65.1%
-46.3%
-95.3%
Interest
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Profit Before Tax
$-26.0M
$-21.0M
$-25.0M
$-19.0M
$-26.0M
$-19.0M
$-14.0M
$-19.0M
$-16.0M
$-15.0M
$-12.0M
$-20.0M
Tax
$-460,000
$-880,000
$-1.2M
$-1.6M
$-190,000
$-1.1M
$-1.9M
$-1.6M
$-1.9M
$-6.7M
$-1.5M
$6.6M
Net Profit
$-26.0M
$-21.0M
$-25.0M
$-18.0M
$-26.0M
$-19.0M
$-14.0M
$-18.0M
$-16.0M
$-16.0M
$-13.0M
$-18.0M
EPS
$-2.29
$-0.12
$-0.14
$-1.58
$-2.21
$-1.55
$-1.13
$-1.49
$-1.26
$-1.29
$-1.34
$-1.37
Over the 6 years reported for Forge Global Holdings, Inc., borrowings decreased from $36.0M in 2019 to $15.0M in 2024, cash stood at $105.0M in the latest year, shareholders' equity was $0, current assets covered current liabilities 4.76 times.
Balance Sheet — 6 Years (USD millions)
Metric
2019
2020
2021
2022
2023
2024
Total Assets
$118.0M
$259.0M
$258.0M
$364.0M
$311.0M
$264.0M
Current Assets
$33.0M
$91.0M
$88.0M
$207.0M
$163.0M
$119.0M
Cash
$28.0M
$41.0M
$75.0M
$193.0M
$145.0M
$105.0M
Inventory
$0
$0
$0
$0
$0
$0
Receivables
$2.0M
$6.0M
$7.0M
$4.0M
$4.0M
$8.0M
Fixed Assets
$7.0M
$10.0M
$8.0M
$6.0M
$10.0M
$8.0M
Capital Work in Progress
$0
$0
$0
$0
$0
$0
Investments
$0
$0
$0
$7.0M
$8.0M
$1.0M
Other Assets
$44.0M
$121.0M
$121.0M
$134.0M
$121.0M
$121.0M
Total Liabilities
$81.0M
$109.0M
$64.0M
$38.0M
$42.0M
$37.0M
Current Liabilities
$29.0M
$68.0M
$38.0M
$26.0M
$24.0M
$25.0M
Borrowings
$36.0M
$31.0M
$24.0M
$7.0M
$11.0M
$15.0M
Other Liabilities
$44.0M
$78.0M
$41.0M
$31.0M
$31.0M
$22.0M
Equity
$0
$0
$0
$0
$0
$0
Reserves
$37.0M
$149.0M
$193.0M
$319.0M
$264.0M
$224.0M
For Forge Global Holdings, Inc., operating cash flow was positive in 2 of 6 reported years; free cash flow in the latest year was negative at $41.0M; free cash flow was positive in 2 of 6 years; financing activities used $4.0M in the latest year, which covers debt repayment, dividends and buybacks.
Cash Flow Statement — 6 Years (USD millions)
Metric
2019
2020
2021
2022
2023
2024
Operating Cash Flow
$2.0M
$-3.0M
$11.0M
$-69.0M
$-41.0M
$-41.0M
Investing Cash Flow
$-46.0M
$-25.0M
$-7.0M
$-13.0M
$-9.0M
$5.0M
Financing Cash Flow
$0
$0
$-5.0M
$-16.0M
$-1.0M
$-4.0M
Net Cash Flow
$-4.0M
$13.0M
$34.0M
$119.0M
$-49.0M
$-40.0M
Free Cash Flow
$1.0M
$-4.0M
$8.0M
$-75.0M
$-42.0M
$-41.0M
Valuation & Return Ratios
Metric
Value
PEG Ratio
-0.71
EV / EBITDA
-13.86
FCF Yield
-5.16%
Quick Ratio
2.55
Interest Coverage
—
Return 1Y
—
Return 3Y
—
Return 5Y
—
Forge Global Holdings, Inc. (FRGE) financials — frequently asked questions
What is Forge Global Holdings, Inc.'s annual revenue?
Forge Global Holdings, Inc. (FRGE) reported annual revenue of $79.0M in its most recent fiscal year.
What is Forge Global Holdings, Inc.'s net profit?
Forge Global Holdings, Inc. (FRGE) reported a net loss of $66.0M in its most recent fiscal year.
What is FRGE EV/EBITDA?
Forge Global Holdings, Inc.'s enterprise value to EBITDA (EV/EBITDA) ratio is -13.86. A negative value means EBITDA was negative over the period, so the ratio is not a meaningful valuation measure.