NASDAQ$FRMM
Forum Markets Inc · Q1 2026 earnings
Q1 2026 earnings ·
Briefing
Forum Markets Inc reported $2.9 million in revenue and a $76.3 million net loss for Q1 2026.
Forum Markets Inc, formerly ETHZilla Corporation, reported total revenue of $2.9 million for the three months ended March 31, 2026, driven by staking revenue and aircraft engine rental revenue. The company recorded a net loss of $76.3 million, primarily due to significant changes in fair value of derivatives and digital assets. The company continues to focus on blockchain-based tokenization of real-world assets and digital asset strategies following its strategic shift.
- Total revenue reached $2.9 million from staking and aircraft engine rentals, compared to zero in the prior year period.
- Net loss widened to $76.3 million, impacted by $48.6 million change in fair value of long-term receivable derivative and digital asset losses.
- Cash and cash equivalents increased to $65.9 million following sales of cryptocurrency and equity issuances.
- The company acquired aircraft engines and expanded into RWA tokenization and loan receivables during the quarter.
Headline financials
Revenue & EPS history
ETHZilla Corp · Revenue · Quarterly
$2.86M
Revenue by segment
ETHZilla Corp · $2.86M total across 2 segments · Q1 2026
- Staking$1.77M—61.9%
- Aircraft Engine Rental$1.09M—38.1%
Forward guidance
The company is pursuing tokenization of real-world assets and strategic alternatives to maximize shareholder value.
Tailwinds
- Expansion into aircraft engine leasing and RWA financing
- Significant liquidity from digital asset sales
Headwinds
- High volatility in digital asset prices and derivatives
- Ongoing net losses and fair value adjustments
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 9 quarterly earnings reports · overlaid with Q1 2026
-3.0%
Avg return
Earnings day
-6.6%
Avg return
5 days after
-11.4%
Avg return
30 days after
40%
4 / 10 earnings
Positive
+5.9%
Q4 2020
Best reaction
-23.7%
Q1 2026
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -23.7% | -14.4% | — | |
| Q3 2025 | -8.2% | -29.7% | -51.1% | |
| Q2 2025 | +3.6% | +31.7% | +49.3% | |
| Q1 2025 | +5.4% | +3.6% | -11.3% | |
| Q3 2024 | -7.3% | -18.7% | -33.2% | |
| Q2 2024 | -3.4% | +2.3% | +0.1% | |
| Q1 2024 | -3.0% | -23.5% | -22.5% | |
| Q4 2021 | -0.8% | -7.3% | -18.8% | |
| Q3 2021 | +1.5% | -11.0% | -0.7% | |
| Q4 2020 | +5.9% | +0.5% | -14.5% |
Discussion
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