The following is a summary of the Forge Global Holdings, Inc. (FRGE) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Total revenue less transaction-based expenses for Q3 2024 was $19.1 million, showing a decrease from the previous quarter's $22 million but an increase from $18.4 million year-over-year.

• Net marketplace revenue for Q3 was $8.6 million, indicating a slowdown due to seasonal effects yet marking a 21% increase from the same quarter last year.

• The company reported a net loss of $18.8 million in Q3, an increase from $14 million quarter-over-quarter, attributed to lower revenue, higher operating expenses, and less favorable reductions in the fair value of warrant liabilities.

Business Progress:

• Forge introduced 'Forge Price', a new pricing model providing up-to-date pricing insights for over 240 liquid private companies, aiming to enhance transparency and inform investment decisions in the private market.

• The deployment of the Forge Next Generation Platform aimed at improving client onboarding and efficiency in the trading process.

• Significant engagement with institutional investors, who constitute two-thirds of buy-side volume, highlighting the strong market presence and credibility of Forge.

Opportunities:

• The new 'Forge Price' model and the expansion of the Forge Next Generation Platform are expected to attract more users and enhance trading efficiency, contributing positively to the company's growth trajectory.

• Potential regulatory relaxations with the new administration could foster a more conducive environment for private market investments, enhancing opportunities for Forge.

Risks:

• The company's strategy to increase profitability by 2026 involves significant investments and cost adjustments, including a reduction in force, which presents risks associated with execution and maintaining operational efficiency.

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