NYSE$FRGE

Forge Global Holdings Inc · Q3 2025 earnings

Q3 2025 earnings · · After market close · Investor relations

Briefing

Forge Global reported Q3 2025, revenue of $21.3M, net loss of $18.2M.

For Q3 2025, Forge Global reported revenue of $21.3M, a net loss of $18.2M. Management discusses segment performance, capital allocation, and macro risks in the quarterly filing.

  • Revenue $21.3M.
  • Net loss $18.2M.
  • Forge Global MD&A covers liquidity, credit, and operating priorities.

Headline financials

Total Revenue

$21.3M

Previous: $19.2M+10.6%
EPS (adj)

-$1.40

Previous: -$0.10-1300.0%
Trades

875

Previous: 640+36.7%
Trading volume

$423M

Previous: $205M+106.1%
Net take rate

2.8%

Previous: 2.8%+0.0%
Total custodial accounts

2.7M

Previous: 2.3M+18.5%
Assets under custody

$18.4B

Previous: $16.6B+11.0%
Custodial client cash

$454M

Previous: $470M-3.3%
Capital Expenditures

-$198K

Previous: -$792K+75.0%
Net Income

-$18.2M

Previous: -$18.3M+0.6%
Operating Income

-$20.5M

Previous: -$20.9M+1.7%

Revenue & EPS history

Forge · Revenue · Quarterly

$21.3M

Q3 2025+10.6%vs Q3 2024
Beat estimate in 6 of 14 quarters(43%)
ActualEstimate

Forward guidance

The quarterly filing discusses operating priorities, capital returns, and sector risks.

Tailwinds

  • MD&A highlights liquidity, capital, and core business trends.
  • Segment commentary supports the earnings narrative.

Headwinds

  • Macro, rates, or input costs may pressure near-term margins.
  • One-time items can affect year-over-year comparability.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 17 quarterly earnings reports · overlaid with Q3 2025

Historical avgQ3 2025

-1.3%

Avg return

Earnings day

-3.1%

Avg return

5 days after

+0.1%

Avg return

30 days after

70%

14 / 20 earnings

Positive

+12.2%

Q1 2025

Best reaction

-22.7%

Q4 2023

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q4 2025
Q3 2025+0.0%-0.1%+0.7%
Q2 2025+1.1%+37.2%+11.7%
Q1 2025+12.2%+30.3%+24.4%
Q4 2024-17.9%-31.9%-42.5%
Q3 2024-5.0%-12.1%-11.2%
Q2 2024+11.5%+0.8%+4.2%
Q1 2024-10.1%-12.2%-19.9%
Q4 2023-22.7%-28.6%-27.1%
Q3 2023+2.2%-0.4%+46.0%
Q2 2023+6.9%+3.7%-19.5%
Q1 2023+7.4%-9.8%+28.7%
Q4 2022+4.1%-0.6%-9.3%
Q3 2022+6.8%+8.9%-8.9%
Q2 2022-7.8%-12.1%+0.2%
Q1 2022-22.1%-37.0%-58.7%
Q2 2021+3.6%+5.6%+41.7%
Q4 2021+3.6%+5.6%+41.7%
Q3 2021+0.5%
Q1 2021+0.2%
Q4 2020+0.2%

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