Filing Flows › Forum Markets (FRMM) › Q1 2026
Forum Markets (FRMM) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 15, 2026
Forum Markets (FRMM) reported revenue of $2.9M for the first quarter 2026 (Q1 2026) and +17% from the quarter before. Operating margin was -162.0%.
Forum Markets, Q1 2026: revenue $2.9M, operating margin -162.0%, net loss $76.3M, operating cash flow −$20.4M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.9M | +17% | — |
| Operating profit | −$4.6M | — | — |
| Net earnings | −$76.3M | — | — |
| Operating cash flow | −$20.4M | — | — |
What changed
Revenue was $2.9M in Q1 2026, up 17% from the previous quarter. Native Staking Revenue was the largest line at 51% of revenue.
Operating costs exceeded revenue by $4.6M, an operating margin of -162.0%. The quarter ended with a net loss of $76.3M, narrower than the previous quarter's $229.7M loss. Net interest and other expense of $72.9M was the main reason.
Operating cash flow was −$20.4M. Non-cash charges added back $473K of depreciation and amortization and $104K of share-based compensation. Working capital and other items added $55.2M. Capital expenditures of $16.8M exceeded it, leaving free cash flow of −$37.3M.
Questions
What was Forum Markets' revenue in the first quarter 2026?
Forum Markets (FRMM) reported revenue of $2.9M for the first quarter 2026 (Q1 2026) and +17% from the quarter before.
Was Forum Markets profitable in the first quarter 2026?
Operating loss was $4.6M (-162.0% of revenue) and net loss $76.3M.
Source: Forum Markets 10-Q on SEC EDGAR.