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/Mis Actual Consensu

s s

Estimate

Q2 Beat $52.70 $21.30

Revenue mln mln (5

Analysts

)

Q2 Beat -$0.99 -$1.17

Adjusted (6

EPS Analysts

)

Q2 EPS -$1.34

Q2 Net -$16.60

Income mln

Q2 Beat -$5.40 -$8.65

Adjusted mln mln (6

EBITDA Analysts

)

Q2 $7.80

Operatin mln

g Cash

Flow

Q2 -$12.80

Operatin mln

g Income

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 ( FRGE ) is $30.00, about 44.4% above its July 29 closing price of $16.67

Press Release:

(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.)