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Forge Global Holdings, Inc. (FRGE) SEC Filing 10-Q Quarterly Report for the period ending Friday, September 30, 2022

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    10-Q Quarterly Report May 2022

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Forge Global Holdings, Inc.

CIK: 1827821 Ticker: FRGE

Exhibit 99.1
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Forge Global Holdings, Inc. Reports Third Quarter 2022 Results
Total Revenue Less Transaction Based Expenses Was $15.8 million in 3Q22
Trading Volume Was $226.2 million in 3Q22
Net Take Rate Was 3.6% in 3Q22
Forge Trust Custodial Cash Was $685 million in 3Q22
Forge Expanded Global Private Market Platform into Europe with Strategic Partner Deutsche Börse

SAN FRANCISCO – November 9, 2022
 – Forge Global Holdings, Inc. (“Forge,” or the “Company”) (NYSE: FRGE), a leading private securities marketplace, today announced its financial results for the quarter ended September 30, 2022.

“As macroeconomic headwinds persist, we’ve kept our focus on building for the future,” said Kelly Rodriques, CEO of Forge. “We made progress in Q3 toward our goal of building a global business at the center of the private market ecosystem – debuting our first lending product to unlock new sell-side inventory and for the first time offering custody services of private shares for our trading clients to drive efficiency across the trading process and accelerate the network effects of our unique model. We also increased the value we deliver to customers through our data products with new features and upgrades and began acquiring third-party trading data that will broaden the private market data our customers can access; and finally, we announced our expansion into Europe with Forge Europe.”
Financial Highlights for the Third Quarter of 2022 
Given the unique economic environment, Forge believes that quarter-over-quarter comparisons are more indicative of the current state of the business and has provided both quarter-over-quarter and year-ago quarter comparisons.

Revenue: Total revenue less transaction-based expenses was $15.8 million compared to $16.5 million in the quarter ended June 30, 2022, and $27.1 million in the quarter ended September 30, 2021.

Operating Income: Total operating loss was $42.4 million, compared to total operating loss of $26.0 million in the quarter ended June 30, 2022, and total operating loss of $5.7 million in the quarter ended September 30, 2021.

Net Loss: Net loss of $16.2 million, compared to net loss of $5.1 million in the quarter ended June 30, 2022, and net loss of $5.1 million in the quarter ended September 30, 2021.

Adjusted EBITDA: Total Adjusted EBITDA was a loss of $13.3 million, compared to total Adjusted EBITDA loss of $12.3 million in the quarter ended June 30, 2022, and total Adjusted EBITDA loss of $1.3 million in the quarter ended September 30, 2021.

Cash Flow from Operating Activities: Net cash used in operating activities was $11.4 million, compared to $18.2 million in the quarter ended June 30, 2022, and $5.1 million in the quarter ended September 30, 2021.
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The following information was filed by Forge Global Holdings, Inc. (FRGE) on Wednesday, November 9, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover
Unaudited Condensed Consolidated Balance Sheets
Unaudited Condensed Consolidated Balance Sheets (Parenthetical)
Unaudited Condensed Consolidated Statement Of Cash Flows
Unaudited Condensed Consolidated Statements Of Changes In Convertible Preferred Stock And Stockholders' Equity (Deficit)
Unaudited Condensed Consolidated Statements Of Changes In Convertible Preferred Stock And Stockholders' Equity (Deficit) (Parentheticals)
Unaudited Condensed Consolidated Statements Of Comprehensive Loss
Unaudited Condensed Consolidated Statements Of Operations
Capitalization
Capitalization (Tables)
Capitalization - Additional Information (Details)
Capitalization - Convertible Preferred Stock (Details)
Commitments And Contingencies
Commitments And Contingencies - 401K (Details)
Commitments And Contingencies - Legal Proceeding (Details)
Commitments And Contingencies - Non-Cancelable Purchase Obligations (Details)
Condensed Consolidated Balance Sheet Components
Condensed Consolidated Balance Sheet Components (Tables)
Condensed Consolidated Balance Sheet Components - Accrued Expenses And Other Current Liabilities (Details)
Condensed Consolidated Balance Sheet Components - Capitalized Internal-Use Software (Details)
Condensed Consolidated Balance Sheet Components - Prepaid Expenses And Other Current Assets (Details)
Condensed Consolidated Balance Sheet Components - Property And Equipment, Net (Details)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Additional Information (Details)
Fair Value Measurements - Assets Roll Forward (Details)
Fair Value Measurements - Hierarchy For Assets And Liabilities On A Recurring Basis (Details)
Fair Value Measurements - Payment-Dependent Notes Payable Roll Forward (Details)
Fair Value Measurements - Valuation Of Warrants (Details)
Goodwill And Intangible Assets, Net
Goodwill And Intangible Assets, Net (Tables)
Goodwill And Intangible Assets, Net - Additional Information (Details)
Goodwill And Intangible Assets, Net - Estimated Future Amortization Expense (Details)
Goodwill And Intangible Assets, Net - Intangible Assets (Details)
Income Taxes
Income Taxes (Details)
Leases
Leases (Tables)
Leases - Additional Information (Details)
Leases - Maturity Schedule (Details)
Leases - Operating Leases (Details)
Net Loss Per Share
Net Loss Per Share (Tables)
Net Loss Per Share - Additional Information (Details)
Net Loss Per Share - Antidilutive Securities Excluded From Computation (Details)
Net Loss Per Share - Earnings Per Share (Details)
Off Balance Sheet Items
Off Balance Sheet Items (Details)
Organization And Description Of Business
Organization And Description Of Business (Details)
Recapitalization
Recapitalization (Details)
Related Party Transactions
Related Party Transactions (Details)
Share-Based Compensation
Share-Based Compensation (Tables)
Share-Based Compensation - Common Stock Reserved (Details)
Share-Based Compensation - Narrative (Details)
Share-Based Compensation - Rsus (Details)
Share-Based Compensation - Stock Options (Details)
Share-Based Compensation - Valuation Of Warrants (Details)
Subsequent Events
Subsequent Events (Details)
Summary Of Accounting Policies
Summary Of Accounting Policies (Policies)
Summary Of Accounting Policies (Tables)
Summary Of Accounting Policies - Additional Information (Details)
Warrants
Warrants (Tables)
Warrants - Narrative (Details)
Warrants - Outstanding (Details)

Material Contracts, Statements, Certifications & more

Forge Global Holdings, Inc. provided additional information to their SEC Filing as exhibits

Ticker: FRGE
CIK: 1827821
Form Type: 10-Q Quarterly Report
Accession Number: 0001628280-22-029567
Submitted to the SEC: Thu Nov 10 2022 7:28:48 PM EST
Accepted by the SEC: Mon Nov 14 2022
Period: Friday, September 30, 2022
Industry: Security And Commodity Brokers Dealers Exchanges And Services

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