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Forge Global Holdings, Inc. (FRGE) SEC Filing 10-Q Quarterly Report for the period ending Thursday, June 30, 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 Second Quarter 2022 Results
Total Revenue Less Transaction Based Expenses Was $16.5 million in 2Q22
Trading Volume Was $331.8 million in 2Q22
Net Take Rate Was 3.2% in 2Q22
Forge Trust Custodial Cash Was $680 million in 2Q22
Signed Strategic Partnership Agreement with Morgan Stanley in 2Q22

SAN FRANCISCO – August 11, 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 June 30, 2022.

“The challenging macro environment and ongoing uncertainty continued to disrupt pricing equilibrium in Q2,” said Kelly Rodriques, CEO of Forge. “However, investors, company leaders and private company equity holders turned to Forge for our expertise, our unique ability to provide real time insights on pricing and valuation of private companies and to offer solutions for employee liquidity, the value of which is even more catalyzed in periods of disruption. We continued to expand our sell-side interest and grow our strategic partnerships in the quarter and are confident that as markets recalibrate, Forge is well-positioned to enable liquidity and deliver long-term returns for our shareholders.”
Financial Highlights for the Second Quarter of 2022 
Revenue: Total revenue less transaction-based expenses was $16.5 million compared to revenue less transaction-based expenses of $37.1 million in the quarter ended June 30, 2021.

Operating Income: Total operating loss for the quarter was $26.0 million, compared to the total operating loss of $0.8 million in the quarter ended June 30, 2021.

Net Loss: Net loss of $5.1 million, compared to the net loss of $8.0 million in the quarter ended June 30, 2021.

Adjusted EBITDA: Total Adjusted EBITDA for the quarter was a loss of $12.3 million, compared to the total Adjusted EBITDA gain of $6.5 million in the quarter ended June 30, 2021.

Cash Flow from Operating Activities: Net cash used in operating activities was $18.2 million in the three months ended June 30, 2022 compared to net cash provided by operating activities of $19.2 million in the three months ended June 30, 2021.
Cash Flow from Financing Activities: Net cash provided by financing activities was $22.6 million in the three months ended June 30, 2022 compared to net cash provided by financing activities of $32.7 million in the three months ended June 30, 2021.

Ending Cash Balance: Cash and cash equivalents as of June 30, 2022 was $204.9 million.

Share Count: Weighted-average number of shares used to compute net loss per share attributable to common stockholders, basic for 2Q22 was 167 million shares and fully diluted outstanding shares count as of June 30, 2022 was 189 million shares.

Fully diluted outstanding shares count includes all common shares outstanding plus shares that would be issued in respect to outstanding options and warrants, net of shares to be withheld in respect of exercise price of the respective instruments. Instruments that are out of the money are excluded from the fully diluted outstanding shares count.
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The following information was filed by Forge Global Holdings, Inc. (FRGE) on Thursday, August 11, 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 Operations And Comprehensive Loss
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 - 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)
Ticker: FRGE
CIK: 1827821
Form Type: 10-Q Quarterly Report
Accession Number: 0001628280-22-022682
Submitted to the SEC: Fri Aug 12 2022 4:19:16 PM EST
Accepted by the SEC: Fri Aug 12 2022
Period: Thursday, June 30, 2022
Industry: Security And Commodity Brokers Dealers Exchanges And Services

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