Forge(US:FRGE)2025-07-30 12:00Financial Performance - Forge Global achieved record revenue for the second consecutive quarter as a public company[31] - H1 2025 revenue, net of transaction-related expenses, grew by 28% year-over-year, reaching $52.7 million compared to $41.2 million in H1 2024[31, 37] - The company reported its lowest Adjusted EBITDA loss as a public company[31] - Adjusted EPS for H1 2025 was $(2.30), a 29% improvement compared to $(3.22) in H1 2024[37] Revenue Breakdown (Q2 2025) - Marketplace revenue was $18.6 million in Q2 2025, compared to $16.0 million in Q1 2025 and $11.7 million in Q2 2024[33] - Custodial administration fees were $9.1 million in Q2 2025, slightly down from $9.3 million in Q1 2025 and $10.6 million in Q2 2024[33] - Total revenues, less transaction-based expenses, were $27.6 million in Q2 2025, up from $25.1 million in Q1 2025 and $22.0 million in Q2 2024[33] Operating Expenses and Profitability - Total operating expenses were $40.4 million in Q2 2025, compared to $41.6 million in Q1 2025 and $39.7 million in Q2 2024[35] - Net loss was $(16.6) million in Q2 2025, compared to $(16.2) million in Q1 2025 and $(14.0) million in Q2 2024[35] - Adjusted EBITDA was $(5.4) million in Q2 2025, an improvement from $(8.9) million in Q1 2025 and $(7.9) million in Q2 2024[35]