Forge(US:FRGE)2024-03-27 01:17Financial Performance - Total revenues less transaction-based expenses for the year ended December 31, 2023 was $125022 thousand, compared to $68900 thousand in 2022 and $69390 thousand in 2021[6] - Operating loss for the year ended December 31, 2023 was $(9789) thousand, compared to $(135040) thousand in 2022 and $(91449) thousand in 2021[6] - Adjusted EBITDA for the year ended December 31, 2023 was $8761 thousand, compared to $(46851) thousand in 2022 and $(48799) thousand in 2021[6] - Net loss attributable to Forge Global Holdings for the year ended December 31, 2023 was $(18499) thousand, compared to $(111905) thousand in 2022 and $(90221) thousand in 2021[6,8] Key Business Metrics - Transaction volume for the last twelve months (LTM) ended December 31, 2023 was $318 billion, compared to $122 billion for the LTM ended December 31, 2022[17] - Total custodial accounts as of December 31, 2023 were 2228101[17] - Assets under custody as of December 31, 2023 were $149 billion[17] Non-GAAP Financial Measure - The company presents Adjusted EBITDA as a non-GAAP financial measure to evaluate its ongoing operations and for internal planning and forecasting purposes[4] - Adjusted EBITDA is defined as net loss, adjusted to exclude interest expense, income taxes, depreciation and amortization, share-based compensation expense, change in fair value of warrant liabilities, acquisition-related transaction costs, and other significant gains, losses, and expenses[5]