Forum Markets reports Q1 2026 revenue $2.9M, net loss $77.5M and $65.9M cash

Forum Markets reported first-quarter 2026 GAAP revenue of $2.9 million and gross profit of $2.9 million, while registering a net loss from continuing operations of $77.5 million for the quarter ended March 31, 2026. The company ended the quarter with $65.9 million in cash and cash equivalents and an Adjusted EBITDA loss of $76.0 million. Management highlighted a $25 million post-quarter share repurchase and expanded origination activity into AI infrastructure financing.Financial HighlightsRevenue: $2.9 million for the quarter ended March 31, 2026.Gross Profit: $2.9 million for the quarter ended March 31, 2026.Net loss from continuing operations: $77.5 million for the quarter ended March 31, 2026.Adjusted EBITDA: loss of $75.956 million (reported as $76.0 million) for the quarter.Cash and cash equivalents: $65.9 million as of March 31, 2026.Business HighlightsEstablished AI infrastructure financing program: launched short-term bridge loans backed by NVIDIA GPU acquisitions and deployments for AI data centers targeting mid-teens annualized returns.Shareholder initiatives: formed a special committee to evaluate strategic alternatives and executed a post-quarter $25 million share repurchase, retiring approximately 5.8 million shares (about 28% of shares outstanding), leaving ~14.5 million shares outstanding as of April 30, 2026.Origination and tokenization focus: continued emphasis on originating, structuring, and tokenizing institutional-grade, yield-generating real-world assets to build a scalable tokenization pipeline.Distribution and co-investment progress: management reported progress toward establishing distribution and co-investment partnerships with banks and large institutional investment companies to broaden capital deployment and investor access.Outlook and growth plan: company updated 2026 year-end AUM guidance to $100M–$175M and reiterated a 2027 year-end AUM target of $250M–$300M with the expectation of 50%–100% year-over-year revenue growth in 2027.Original SEC Filing: FORUM MARKETS Inc [ FRMM ] - 8-K - May. 14, 2026DisclaimerThis is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.