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NEW YORK - Forge Global Holdings, Inc. (NYSE:FRGE) reported fourth-quarter 2024 results that showed strong year-over-year growth, despite missing analyst estimates. The private securities marketplace saw its stock rise 5.2% following the earnings release.
Forge Global reported fourth-quarter revenue of $18.3 million, up 13% compared to the same period last year, but falling short of the $25.19 million analyst consensus. Adjusted earnings per share came in at -$0.08, slightly below the -$0.07 estimate.
For the full year 2024, Forge Global’s total revenue less transaction-based expenses increased 13% YoY to $78.7 million. The company’s marketplace revenues less transaction-based expenses surged 46% YoY to $37.0 million, while total trading volume jumped 73% YoY to $1.3 billion.
"We closed out 2024 with 13% year-over-year growth and a strong pipeline," said Forge CEO Kelly Rodriques. "Our year-over-year revenue improvement included a 46% increase in marketplace revenues, which grew to $37.0 million."
The company’s board of directors authorized a share repurchase program of up to $10 million of Forge’s common stock, signaling confidence in the company’s future prospects.
Forge Global ended the quarter with $105.1 million in cash and cash equivalents. The company’s net loss for Q4 narrowed to $16.0 million from $18.8 million in the previous quarter.
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