FRMM FORUM MARKETS Inc

Overview and Growth

Fiscal 2025 results for FORUM MARKETS Inc combined $6.55M of revenue with net loss of $450.52M and an operating cash outflow of $26.05M. Revenue of $6.55M sets the scale for evaluating how effectively sales translated into profit and cash during the year. On a per-share basis, diluted EPS was -$54.32, which connects the reported earnings outcome with the company’s diluted share count. Diluted shares averaged 8.16M; this is the reported share base over which the company’s diluted per-share earnings were spread. The company employed $306.30M of total assets, the balance-sheet base supporting its current operating and cash-flow results. The revenue-to-assets relationship was 0.02x, showing the sales generated relative to the resources carried on the balance sheet.

Profitability

The company recorded an operating loss of $233.45M after the reported operating expense base. The bottom-line result was a net loss of $450.52M after operating, financing, tax, and other recognized items. Before income taxes, the company recorded a loss of $443.53M, bridging the operating result to the final net loss. Relative to period-end equity, the net loss represented 188.2%. Relative to total assets, the net loss represented 147.1%. Compared with a $14.18M net loss in fiscal 2024, the current loss increased to $450.52M.

Liquidity and Capital Structure

Total assets were $306.30M, supported by $66.88M of liabilities and $239.42M of shareholder equity. Current assets were $13.57M against $40.93M of current liabilities, framing the resources and obligations classified within the near-term balance-sheet horizon. At 0.33x, current liabilities exceeded current assets and placed pressure on the company’s near-term liquidity position. The company held $8.02M in cash and equivalents, a narrower liquidity measure than total current assets. Cash and equivalents represented 19.6% of current liabilities, showing the portion of near-term obligations matched by reported cash alone. Book equity represented 78.2% of total assets, quantifying the balance-sheet share supported by shareholder capital. The liabilities-to-assets relationship was 21.8%, placing reported obligations against the full positive asset balance. Measured against total assets, cash and equivalents represented 2.6%, a balance-sheet composition measure rather than a liquidity forecast. Cash and equivalents were 74.9% higher than fiscal 2024 cash of $4.59M, showing the year-over-year change in liquid resources.

Cash Flow and Earnings Quality

Cash flow from operations was an outflow of $26.05M, showing that operations absorbed cash during the period. Capital expenditures used $244.28M in addition to the operating cash outflow, increasing the total cash consumed by operations and investment during the period. Operating cash flow and capital spending combined to leave a $270.33M cash deficit after capital spending. Relative to total assets, the post-investment cash deficit measured 88.3%. Cash absorbed by operations increased from $1.17M in fiscal 2024 to $26.05M.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 26, 2026.