What is FORGE INNOVATION DEV CORP's earnings per share (EPS)?

FORGE INNOVATION DEV CORP (FGNV) reported diluted earnings per share of -$0.03 for fiscal year 2024. This represents a -50.0% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

FORGE INNOVATION DEV CORP (FGNV) Financials

FGNV

FY2024 annual

Revenue $668K +52.4% YoY

Net Income -$1.3M -37.8% YoY

EPS (Diluted) -$0.03 -50.0% YoY

Free Cash Flow -$266K +21.9% YoY

Source SEC Filings (10-K/10-Q) Latest period Q3 FY2025, ended Sep 30, 2025 Reported Nov 24, 2025 Currency USD FYE December

Newest figures come from the 10-Q for Q3 FY2025, filed Nov 24, 2025. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the FGNV SEC filings page.

FORGE INNOVATION DEV CORP (FGNV) reported $668K in revenue for fiscal year 2024, up 52.4% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 9 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI FGNV FY2024 2026-08-30

An asset-heavy balance sheet and recurring financing inflows matter more than revenue growth in explaining Forge’s reported operating model.

In FY2024, operating cash flow was negative -$183K despite a net loss of -$1.3M, a gap that points to material noncash or timing effects rather than cash costs alone. Meanwhile, free cash flow remained negative while financing cash flow was positive, indicating that funding activity—not internal cash generation—was supplying liquidity.

The balance sheet is unusually large relative to sales: FY2024 assets were $8.2M against revenue of $668K, making return on assets a more revealing lens than margin percentages. The business therefore appears to rely on a substantial asset base that produces relatively little reported revenue.

Short-term coverage improved from a current ratio of 0.7x in FY2023 to 1.3x in FY2024, but equity shrank over the same period. That combination suggests better near-term coverage without broad balance-sheet strengthening, while negative free cash flow keeps external financing relevant to the operating model.

Financial Health Signals

Financial health score not available

FORGE INNOVATION DEV CORP does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Piotroski F-Score Partial

5/8

FORGE INNOVATION DEV CORP passes 5 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 1 of 4 profitability signals pass, all 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality No Cash Backing

N/A

FORGE INNOVATION DEV CORP reported a net loss of $1.3M while operations used $183K of cash. With neither figure positive, the ratio between the two carries no quality signal.

Key Financial Metrics

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Earnings & Revenue

Revenue

$16K

YoY-91.0%

QoQ-91.7%

5Y CAGR+12.2%

FORGE INNOVATION DEV CORP generated $16K in revenue in Q3 2025. This represents a decrease of 91.0% from the same quarter a year earlier. Against the prior quarter it is down 91.7%.

EPS (Diluted)

-$0.02

FORGE INNOVATION DEV CORP earned -$0.02 per diluted share (EPS) in Q3 2025.

EBITDA

Not reported for Q3 2025.

Net Income

Not reported for Q3 2025.

Cash & Balance Sheet

Cash & Debt

Debt $14K

YoY-36.4%

QoQ-12.5%

FORGE INNOVATION DEV CORP carried $14K in long-term debt as of Q3 2025, with $316K of liabilities due within a year; cash and equivalents are not reported for that period.

Shares Outstanding

50M

YoY0.0%

QoQ0.0%

5Y CAGR+2.0%

FORGE INNOVATION DEV CORP had 50M shares outstanding in Q3 2025. That is unchanged from the same quarter a year earlier. It is unchanged from the prior quarter.

Free Cash Flow

Not reported for Q3 2025.

Dividends Per Share

Not reported for Q3 2025.

Margins & Returns

None of these metrics is reported for Q3 2025.

Capital Allocation

None of these metrics is reported for Q3 2025.

FGNV Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

FGNV quarterly income statement

Metric	TTM	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K
Revenue	$562K	$668K+52.4%	$438K+257.6%	$123K+240.6%	$36K0.0%	$36K0.0%	$36K0.0%	$36K+140.0%	$15K	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	$36K0.0%	$36K0.0%	$36K+140.0%	$15K	N/A
SG&A Expenses	$377K	$303K+29.3%	$235K+109.4%	$112K-55.1%	$249K-12.0%	$283K	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	$2K-48.5%	$4K	N/A	N/A
Income Tax	N/A	N/A	N/A	$2K+35.8%	$2K+100.0%	$8000.0%	$8000.0%	$800	N/A	N/A
Net Income	N/A	-$1.3M-37.8%	-$920K-2598.0%	-$34K+87.0%	-$262K+18.0%	-$320K-13.0%	-$283K+13.1%	-$326K-7.2%	-$304K-390.6%	-$62K
EPS (Basic)	N/A	-$0.03-50.0%	-$0.02	$0.00	$0.00	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	-$0.03	-$0.03-50.0%	-$0.02	$0.00	N/A	N/A	N/A	N/A	N/A	N/A
Diluted Shares (Avg)	N/A	50M+3.7%	49M+6.5%	46M	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-Q	Q3'2410-Q	Q2'2410-Q	Q1'2410-Q	Q4'2310-K
Revenue	$16K-91.0%	$193K+9.9%	$175K+28.6%	$178K+39.3%	$178K+34.4%	$176K+32.2%	$136K+202.7%	$128K+223.5%
SG&A Expenses	$10K-68.2%	$88K-18.8%	$182K+175.6%	$97K+13.4%	$32K-36.1%	$108K+73.6%	$66K+82.0%	$86K+233.0%
Interest Expense	N/A	N/A	$91K-30.4%	N/A	N/A	N/A	$131K	N/A
Net Income	N/A	-$61K+89.6%	-$121K+79.3%	-$38K+93.5%	-$59K+89.8%	-$587K-149.7%	-$584K-223.9%	-$573K-24528.4%
EPS (Basic)	-$0.02	$0.00+100.0%	$0.00+100.0%	-$0.010.0%	$0.00+100.0%	-$0.01	-$0.01-200.0%	-$0.01
EPS (Diluted)	-$0.02	$0.00+100.0%	$0.00+100.0%	-$0.01	$0.00+100.0%	-$0.01	-$0.01-200.0%	-$0.01
Diluted Shares (Avg)	50M0.0%	50M0.0%	50M0.0%	N/A	50M0.0%	50M+5.6%	50M+10.0%	N/A

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, Operating Income, EBITDA, Income Tax.

FGNV Balance Sheet

FGNV quarterly balance sheet

Metric	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K
Total Assets	$8.2M-11.7%	$9.3M+7295.2%	$126K-13.4%	$145K-58.9%	$354K-46.0%	$655K-19.5%	$814K-28.3%	$1.1M+20.9%	$939K
Current Assets	$8.2M+626.6%	$1.1M+3878.6%	$28K-66.4%	$84K-66.7%	$252K-47.9%	$484K-36.8%	$766K-25.2%	$1.0M+9.2%	$939K
Cash & Equivalents	$405-91.7%	$5K-58.3%	$12K-80.6%	$60K-74.5%	$237K-35.4%	$366K-43.9%	$653K-20.8%	$825K+25.9%	$655K
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0
Accounts Receivable	$148K	N/A	N/A	$9K+200.0%	$3K	N/A	$3K	N/A	N/A
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0
Total Liabilities	$6.5M+7.8%	$6.0M+2657.1%	$217K+7.2%	$203K+36.4%	$149K+14.8%	$129K+2555.5%	$5K-98.5%	$327K+479.7%	$56K
Current Liabilities	$6.4M+299.3%	$1.6M+853.5%	$168K-6.3%	$180K+33.5%	$135K+110.1%	$64K+1215.1%	$5K-98.5%	$327K+479.7%	$56K
Non-Current Liabilities	$43K-99.0%	$4.4M+8892.9%	$49K+113.6%	$23K+64.3%	$14K-78.7%	$65K	$0	$0	$0
Long-Term Debt	$20K-28.6%	$28K-22.2%	$36K+282.2%	$9K	N/A	N/A	N/A	N/A	N/A
Total Equity	$1.1M-54.6%	$2.3M+2645.8%	-$91K-59.6%	-$57K-127.9%	$205K-60.9%	$525K-35.0%	$809K+0.1%	$808K-8.4%	$882K
Retained Earnings	-$3.8M-51.0%	-$2.5M-58.8%	-$1.6M-2.2%	-$1.5M-20.7%	-$1.3M-33.7%	-$949K-42.6%	-$666K-81.8%	-$366K-490.6%	-$62K

Metric	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-Q	Q3'2410-Q	Q2'2410-Q	Q1'2410-Q	Q4'2310-K
Total Assets	$164K-98.0%	$8.1M-2.3%	$8.2M-7.4%	$8.2M-11.7%	$8.3M-16.3%	$8.3M-19.3%	$8.8M+8.2%	$9.3M+7295.2%
Current Assets	$133K-18.8%	$260K+23.4%	$221K-65.4%	$8.2M+626.6%	$164K-90.0%	$210K-89.9%	$640K+291.9%	$1.1M+3878.6%
Cash & Equivalents	N/A	$52K+11.7%	$10K+156.5%	$405-91.7%	$28K+164.3%	$47K+7349.8%	$4K-56.3%	$5K-58.3%
Short-Term Investments	N/A	$0	$0	$0	$0	$0	$0	$0
Accounts Receivable	N/A	$155K	$158K	$148K	N/A	N/A	N/A	N/A
Long-Term Investments	N/A	$0	$0	$0	$0	$0	$0	$0
Total Liabilities	$342K-94.7%	$6.7M+5.4%	$6.6M+7.3%	$6.5M+7.8%	$6.4M+9.1%	$6.4M+12.8%	$6.2M+22.0%	$6.0M+2657.1%
Current Liabilities	$316K-75.9%	$1.6M+29.8%	$1.6M-6.2%	$6.4M+299.3%	$1.3M-16.1%	$1.2M-14.4%	$1.7M-65.8%	$1.6M+853.5%
Non-Current Liabilities	$27K-99.5%	$5.1M-0.4%	$5.1M+12.3%	$43K-99.0%	$5.1M+18.2%	$5.1M+22.0%	$4.5M+2572.7%	$4.4M+8892.9%
Long-Term Debt	$14K-36.4%	$16K-33.3%	$18K-30.8%	$20K-28.6%	$22K-26.7%	$24K-25.0%	$26K-23.5%	$28K-22.2%
Total Equity	-$179K-116.3%	$875K-24.2%	$936K-46.2%	$1.1M-54.6%	$1.1M-62.2%	$1.2M-66.9%	$1.7M-0.9%	$2.3M+2645.8%
Retained Earnings	-$4.8M-29.0%	-$3.9M-7.6%	-$3.9M-26.2%	-$3.8M-51.0%	-$3.7M-94.3%	-$3.7M-175.2%	-$3.1M-180.7%	-$2.5M-58.8%

Not reported in any period shown, so not listed: Inventory, Goodwill.

FGNV Cash Flow Statement

FGNV quarterly cash flow statement

Metric	TTM	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K
Operating Cash Flow	$43K	-$183K+46.0%	-$338K-995.6%	-$31K+80.1%	-$155K+43.1%	-$272K+1.9%	-$277K+17.7%	-$337K-457.7%	-$60K-952.3%	-$6K
Depreciation & Amortization	N/A	N/A	$240K+1435.2%	$16K+6.9%	$15K+49.4%	$10K+9.8%	$9K+58.8%	$6K	N/A	N/A
Stock-Based Compensation	N/A	$929K-9.9%	$1.0M	N/A	$0	$0	N/A	N/A	N/A	N/A
Capital Expenditures	N/A	$83K+3846.0%	$2K-76.7%	$9K-57.2%	$21K	N/A	$10K-71.9%	$35K	N/A	N/A
Free Cash Flow	N/A	-$266K+21.9%	-$340K-752.5%	-$40K+77.3%	-$176K	N/A	-$287K+22.8%	-$372K	N/A	N/A
Investing Cash Flow	N/A	-$83K-7741.6%	$1K+112.0%	-$9K+57.2%	-$21K-119.4%	$109K+1209.6%	-$10K-105.9%	$165K	N/A	N/A
Financing Cash Flow	$83K	$293K-11.1%	$330K+3867.8%	-$9K-1712.8%	-$483-101.4%	$33K	N/A	N/A	$230K-65.2%	$661K

Metric	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-Q	Q3'2410-Q	Q2'2410-Q	Q1'2410-Q	Q4'2310-K
Operating Cash Flow	-$76K-361.1%	$89K+165.3%	-$19K+76.3%	$49K+158.4%	-$17K+89.6%	-$136K-78.6%	-$79K-331.1%	-$84K-747.3%
Depreciation & Amortization	$6K+9.9%	$6K+9.9%	N/A	N/A	$5K-92.7%	$5K-95.7%	$78K+1161.2%	$49K+1166.4%
Stock-Based Compensation	N/A	N/A	N/A	N/A	N/A	N/A	$494K	N/A
Capital Expenditures	N/A	N/A	N/A	$68K	$10K+873.6%	N/A	N/A	$0-100.0%
Free Cash Flow	N/A	N/A	N/A	-$19K+77.9%	-$26K+83.5%	N/A	N/A	-$84K-876.3%
Investing Cash Flow	N/A	N/A	N/A	-$68K	-$10K-873.6%	N/A	N/A	$0+100.0%
Financing Cash Flow	$111K+1292.6%	-$47K-125.3%	-$4K-104.6%	$23K-70.9%	$8K-95.3%	$184K+167.3%	$78K+531.9%	$78K+2658.7%

Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.

FGNV Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

FGNV quarterly financial ratios

Metric	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K
Gross Margin	N/A	N/A	N/A	N/A	100.0%0.0pp	100.0%0.0pp	100.0%0.0pp	100.0%	N/A
Net Margin	-189.8%	-209.9%	-27.8%	-729.0%	-889.3%	-787.2%	-905.7%	-2027.6%	N/A
Return on Equity	-120.0%-80.5pp	-39.6%	N/A	N/A	-156.0%-102.1pp	-53.9%-13.6pp	-40.3%-2.7pp	-37.6%-30.6pp	-7.0%
Return on Assets	-15.4%-5.6pp	-9.9%+17.2pp	-27.1%+153.5pp	-180.6%-90.1pp	-90.5%-47.2pp	-43.3%-3.2pp	-40.1%-13.3pp	-26.8%-20.2pp	-6.6%
Current Ratio	1.27+0.6x	0.70+0.5x	0.17-0.3x	0.47-1.4x	1.87-5.7x	7.56-149.7x	157.22+154.1x	3.14-13.5x	16.65
Debt-to-Equity	0.020.0x	0.01	N/A	N/A	0.72+0.5x	0.25+0.2x	0.01-0.4x	0.40+0.3x	0.06
Asset Turnover	0.080.0x	0.05-0.9x	0.97+0.7x	0.25+0.1x	0.100.0x	0.060.0x	0.040.0x	0.01	N/A
FCF Margin	-39.8%+37.8pp	-77.5%-45.0pp	-32.5%	-488.2%	N/A	-796.9%	-1032.3%	N/A	N/A

Metric	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-Q	Q3'2410-Q	Q2'2410-Q	Q1'2410-Q	Q4'2310-K
Net Margin	N/A	-31.7%	-68.9%	-21.1%	-33.3%	-333.8%	-429.0%	-448.8%
Return on Equity	N/A	-7.0%+43.9pp	-12.9%+20.7pp	-3.5%+21.1pp	-5.4%+14.7pp	-50.9%-44.1pp	-33.6%-60.4pp	-24.6%
Return on Assets	N/A	-0.8%+6.3pp	-1.5%+5.1pp	-0.5%+5.7pp	-0.7%+5.2pp	-7.1%-4.8pp	-6.6%-12.4pp	-6.2%-8.0pp
Current Ratio	0.42+0.3x	0.160.0x	0.14-0.2x	1.27+0.6x	0.13-0.9x	0.17-1.3x	0.38+0.3x	0.70+0.5x
Debt-to-Equity	N/A	0.020.0x	0.020.0x	0.020.0x	0.020.0x	0.020.0x	0.010.0x	0.01
Asset Turnover	0.10+0.1x	0.020.0x	0.020.0x	0.020.0x	0.020.0x	0.020.0x	0.020.0x	0.01-0.3x
FCF Margin	N/A	N/A	N/A	-10.5%+55.4pp	-14.9%	N/A	N/A	-65.8%-93.3pp

Not reported in any period shown, so not listed: Gross Margin, Operating Margin.

Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Net Margin.

Where FORGE INNOVATION DEV CORP Ranks

Frequently Asked Questions

What is FORGE INNOVATION DEV CORP's annual revenue?

FORGE INNOVATION DEV CORP (FGNV) reported $668K in total revenue for fiscal year 2024. This represents a 52.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is FORGE INNOVATION DEV CORP's revenue growing?

FORGE INNOVATION DEV CORP (FGNV) revenue grew by 52.4% year-over-year, from $438K to $668K in fiscal year 2024.

Is FORGE INNOVATION DEV CORP profitable?

No, FORGE INNOVATION DEV CORP (FGNV) reported a net income of -$1.3M in fiscal year 2024.

How much debt does FORGE INNOVATION DEV CORP have?

As of fiscal year 2024, FORGE INNOVATION DEV CORP (FGNV) had $405 in cash and equivalents against $20K in long-term debt.

What is FORGE INNOVATION DEV CORP's return on equity (ROE)?

FORGE INNOVATION DEV CORP (FGNV) has a return on equity of -120.0% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is FORGE INNOVATION DEV CORP's free cash flow?

FORGE INNOVATION DEV CORP (FGNV) recorded an outflow of $266K in free cash flow during fiscal year 2024. This represents a 21.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is FORGE INNOVATION DEV CORP's operating cash flow?

FORGE INNOVATION DEV CORP (FGNV) recorded an outflow of $183K in operating cash flow during fiscal year 2024, representing cash used by core business activities.

What are FORGE INNOVATION DEV CORP's total assets?

FORGE INNOVATION DEV CORP (FGNV) had $8.2M in total assets as of fiscal year 2024, including both current and long-term assets.

What are FORGE INNOVATION DEV CORP's capital expenditures?

FORGE INNOVATION DEV CORP (FGNV) invested $83K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How many shares does FORGE INNOVATION DEV CORP have outstanding?

FORGE INNOVATION DEV CORP (FGNV) had 50M shares outstanding as of fiscal year 2024.

What is FORGE INNOVATION DEV CORP's current ratio?

FORGE INNOVATION DEV CORP (FGNV) had a current ratio of 1.27 as of fiscal year 2024, which is considered adequate.

What is FORGE INNOVATION DEV CORP's debt-to-equity ratio?

FORGE INNOVATION DEV CORP (FGNV) had a debt-to-equity ratio of 0.02 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is FORGE INNOVATION DEV CORP's return on assets (ROA)?

FORGE INNOVATION DEV CORP (FGNV) had a return on assets of -15.4% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

How does FORGE INNOVATION DEV CORP's liquidity compare with its operating cash outflow?

At the end of fiscal year 2024, FORGE INNOVATION DEV CORP (FGNV) held $405 in cash, cash equivalents and investments, and reported an operating cash outflow of $183K over that year. Dividing the one by the other, the reported balance equals about 0 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.

What is FORGE INNOVATION DEV CORP's Piotroski F-Score?

FORGE INNOVATION DEV CORP (FGNV) has a Piotroski F-Score of 5 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are FORGE INNOVATION DEV CORP's earnings high quality?

FORGE INNOVATION DEV CORP (FGNV) reported a net loss of $1.3M while operations used $183K of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.