Q1 2024 Forge Global Holdings Inc Earnings Call Transcript
Key Points
- Forge Global Holdings Inc reported a fourth consecutive quarter of revenue improvement with marketplace revenue up 5%.
- The launch of Forge Pro, a next-generation platform, has seen positive traction and interest from both existing and new clients.
- Expansion into the European market has begun, with the team successfully executing trades, indicating progress in global reach.
- The introduction of the first investable index for liquidity in private markets, tracked by the Liquidity Megacorn Fund, marks a significant milestone.
- Forge Global Holdings Inc has maintained a stable net take rate of 3.2% and has seen an increase in total marketplace revenues and volume.
- Forge Global Holdings Inc reported a net loss of $19 million in Q1 2024, although this was an improvement from the previous quarter.
- Custodial cash balances decreased by 2%, and total custodial administration fees dropped from the previous quarter.
- The company experienced a decline in cash, cash equivalents, and restricted cash from the previous quarter.
- Forge Global Holdings Inc continues to face a challenging interest rate environment which could impact trading volumes and investor sentiment.
- Despite improvements, significant increases in trading volumes are contingent on a sustained recovery in the IPO market and investor sentiment.
Good afternoon. My name is Jessica, and I'll be your conference operator today. At this time, I would like to welcome everyone to the forge first quarter 24 financial results conference call on today's sports Global's call. Sylvie, can you address CYOYTCFO., there is a write-down Executive Vice President of Corporate Marketing and Communications and Dominic Paschel, SVP of Finance and Investor Relations. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone. If you'd like to withdraw your question again, press star one Thank you, and I will now turn the call over to Lindsey Rado. This roadshow, you may begin your conference.
Thank you, operator, and thank you all for joining us today for Fortis First Quarter 2020 for earnings call. Joining me today are for CYO. Kelly Rodriguez
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