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Visual21 Nov 2025
Data center suppliers
Forge Global Holdings (FRGE) investor relations material
Forge Global Holdings Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary13 Nov, 2025
Executive summary
Entered into a definitive agreement to be acquired by The Charles Schwab Corporation for $45.00 per share in cash, expected to close in the first half of 2026, subject to customary approvals.
Completed the acquisition of Accuidity LLC, expanding private market asset management capabilities.
Continued focus on democratizing access to private markets through technology-driven solutions and platform expansion.
Financial highlights
Total revenues, less transaction-based expenses, were $20.97 million for Q3 2025, down 24% sequentially but up 22% year-over-year for the nine months ended September 30, 2025.
Marketplace revenue for Q3 2025 was $12.16 million, a 35% sequential decrease, but up 62% year-over-year for the nine-month period.
Net loss attributable to common stockholders was $18.2 million for Q3 2025 and $47.0 million for the nine months ended September 30, 2025, compared to $18.3 million and $50.7 million in the prior year periods.
Adjusted EBITDA for Q3 2025 was $2.7 million, compared to $(11.6) million in the prior quarter.
Cash and cash equivalents were $32.3 million as of September 30, 2025, with investments of $28.4 million.
Outlook and guidance
Management expects sufficient liquidity to fund operations and merger-related costs through the closing of the Schwab transaction.
The company will operate independently until the merger closes, with restrictions on certain actions per the merger agreement.
How are pending merger restrictions impacting operations?
Explain Accuidity's initial financial performance.
What drives declining custodial admin fees?
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Next Forge Global Holdings earnings date
Q4 202524 Feb, 2026
Next Forge Global Holdings earnings date
Q4 202524 Feb, 2026
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Frequently asked questions
Forge Global Holdings Inc. is a financial services company that operates a platform designed to facilitate the trading of private company shares. The company provides a marketplace where investors can buy and sell equity in pre-IPO companies, offering liquidity solutions for shareholders of private firms. Forge Global's services cater to institutional investors, private companies, and accredited investors, enabling them to access opportunities in the private markets. In addition to its trading platform, the company offers data and insights on private market activity to support informed investment decisions. The company is headquartered in San Francisco, California, and its shares are listed on the NYSE.
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