Forge Global Holdings Inc. ( (FRGE) ) has released its Q4 earnings. Here is a breakdown of the information Forge Global Holdings Inc. presented to its investors.
Forge Global Holdings Inc., a prominent player in the private securities marketplace, offers marketplace infrastructure, data services, and technology solutions for private market participants.
Forge Global Holdings Inc. reported a 13% increase in total revenue, reaching $78.7 million for the fiscal year 2024, with significant growth in marketplace revenues by 46%. The company also announced a share repurchase program and launched several new products aimed at enhancing market visibility and data services.
Key financial highlights include a 73% increase in total trading volume to $1.3 billion and a 46% rise in marketplace revenues to $37.0 million. Despite a decrease in custodial administration fees by 5%, Forge’s strategic initiatives, such as the launch of Forge Price and the Private Market Magnificent 7, aim to bolster its market position. The company also reported a reduced net loss of $67.8 million, down 26% year-over-year.
Forge’s board has authorized a $10 million share repurchase program, reflecting confidence in its long-term prospects. Additionally, the introduction of Forge Pro and the Forge Accuidity Private Market Index are expected to enhance client engagement and market analytics.
Looking ahead, Forge Global Holdings Inc. remains focused on leveraging its technological advancements and strategic initiatives to drive growth and enhance shareholder value, despite the challenges in the broader market environment.