---
title: "Forum Markets reports Q1 2026 revenue $2.9M, net loss $77.5M and $65.9M cash"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/286416257.md"
description: "Forum Markets reported Q1 2026 revenue of $2.9 million with a net loss of $77.5 million. The company ended the quarter with $65.9 million in cash. Highlights include a $25 million share repurchase and the launch of an AI infrastructure financing program. The company aims for $100M–$175M in AUM by year-end 2026 and targets $250M–$300M by 2027, expecting 50%–100% revenue growth in 2027."
datetime: "2026-05-14T12:23:01.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/286416257.md)
  - [en](https://longbridge.com/en/news/286416257.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/286416257.md)
---

# 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 Highlights**

-   Revenue: $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 Highlights**

-   Established 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, 2026

**Disclaimer**

This 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.

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