FRGE Research | Milton Maxwell

FRGE

Forge Global Holdings, Inc.

44.45

+0.10+0.23%

Dec 16, 4:00:02 PM EST

Upcoming Earnings

Report date

≈ -/-

Earnings Call Transcripts

This Quarter (Q1 '26)

No earnings call transcript available yet

Last Quarter (Q4 '25)

No earnings call transcript available

Key Stats

Market Cap

615.39M

P/E (TTM)

Basic EPS (TTM)

-4.90

Dividend Yield

Recent Filings

8-K

Schwab acquires Forge for $45/share

3/2/26Mar 2, 2026

Schwab completed its acquisition of Forge Global on March 2, 2026, via merger, paying shareholders $45.00 per share in cash. Forge became Schwab's wholly owned subsidiary; NYSE delisted shares. New Schwab executives took Forge's helm. Public trading ends.

8-K

Stockholders approve Schwab merger

1/23/26Jan 23, 2026

Forge Global stockholders approved the merger with Charles Schwab's subsidiary on January 22, 2026, with 9,666,293 votes for out of 9,687,311 shares present—69.97% quorum. Advisory vote on executive compensation also passed. Deal eyes first-half 2026 close, pending regulatory nods. Risks loom from approvals and disruptions.

8-K

Proxy supplement amid merger suits

1/14/26Jan 14, 2026

Forge Global supplemented its definitive proxy statement on January 13, 2026, addressing four shareholder lawsuits alleging incomplete merger disclosures with Schwab at $45 per share cash. Additions detail FT Partners' engagement, Special Committee changes, Schwab bids, and Base Case Projections showing Adjusted EBITDA turning positive at $5M in 2026E. Forge denies merit but supplements to avoid delays. More suits may emerge.

8-K

Accelerates exec RSUs pre-merger

12/29/25Dec 29, 2025

Forge Global accelerated 36,800 TSR RSUs for CEO Kelly Rodriques (earned at 200% of target) and for CFO James Nevin, 5,333 TSR RSUs (100% target), plus $340,000 cash bonus and 11,926 RSUs, all settling in December 2025. This mitigates Section 280G excise taxes tied to the pending Schwab merger. Repayment clauses protect the company if execs leave early. Tax deductions preserved.

8-K

Q3 metrics posted; revenues dip

11/13/25Nov 13, 2025

Forge Global posted Q3 2025 supplemental metrics on November 13, showing marketplace revenues of $12.2M, down from Q2's $18.6M, while custodial accounts hit 2.7M with $18.4B under custody. Revenues less transaction expenses fell to $21.0M; operating loss widened to $20.5M. Adjusted EBITDA lost $11.6M. Trading volume dropped sharply.

About

Forge Global Holdings, Inc. operates a financial services platform in California. The company's platform solutions include marketplace solutions, a private market platform which is designed to connect buyers looking to invest in private companies and sellers of company shares and related products; private company solutions, a private company to deliver comprehensive, tailored solutions for their liquidity and capital formation; asset management solutions for fund creation and management, redemption of fund units, and secured cash management; and data solutions for derived data and indices. It also provides custody solutions for self-directed IRA accounts and custody-as-a-service. The company was founded in 2014 and is headquartered in San Francisco, California.

CEO

Mr. Kelly A. Rodriques

IPO

2/1/2021

Website

https://www.forgeglobal.com

Employees

300

Sector

Financial Services

Industry

Capital Markets