Forge Innovation DEV (FGNV) Financials
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.
Forge operates with a balance-sheet-heavy model: liabilities fund most assets while reported losses remain much larger than operating cash outflows.
FY2024's net loss was$1.3M , versus$920K in FY2023, yet operating cash flow improved from an outflow of$338K to$183K . That gap indicates accounting charges are not consuming operating cash one-for-one, although the underlying operation still used cash.
Liabilities represented
Free cash flow improved from a
Financial Health Signals
We do not publish a peer-relative financial health score for Forge Innovation DEV Corp, because the score only covers companies whose filings and listing give us what it needs to compare them with their peers. The signals and metrics below are current.
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, the one computable operating efficiency signal (asset turnover improving) passes.
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
Earnings & Revenue
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%.
Forge Innovation DEV Corp earned -$0.02 per diluted share (EPS) in Q3 2025. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Not reported for Q3 2025.
Not reported for Q3 2025.
Cash & Balance Sheet
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.
Not reported for Q3 2025.
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.
| Metric | Q3'2510-Q | Q2'25Filing | Q1'25Filing | Q4'24Filing | Q3'24Filing | Q2'24Filing | Q1'24Filing | Q4'23Filing |
|---|---|---|---|---|---|---|---|---|
| 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 | -$61Kn/m | -$121Kn/m | -$38Kn/m | -$59Kn/m | -$587Kn/m | -$584K-223.9% | -$573K-24528.4% |
| EPS (Basic) | -$0.02n/m | $0.00n/m | $0.00n/m | -$0.01 | $0.00n/m | -$0.01n/m | -$0.01-200.0% | -$0.01n/m |
| EPS (Diluted) | -$0.02n/m | $0.00n/m | $0.00n/m | -$0.01 | $0.00n/m | -$0.01n/m | -$0.01-200.0% | -$0.01n/m |
| 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
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.
| Metric | Q3'2510-Q | Q2'25Filing | Q1'25Filing | Q4'24Filing | Q3'24Filing | Q2'24Filing | Q1'24Filing | Q4'23Filing |
|---|---|---|---|---|---|---|---|---|
| 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 | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m |
| Accounts Receivable | N/A | $155K | $158K | $148K | N/A | N/A | N/A | N/A |
| Long-Term Investments | N/A | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m |
| 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% | $2.3Mn/m |
| Retained Earnings | -$4.8Mn/m | -$3.9Mn/m | -$3.9Mn/m | -$3.8Mn/m | -$3.7Mn/m | -$3.7Mn/m | -$3.1Mn/m | -$2.5Mn/m |
Not reported in any period shown, so not listed: Inventory, Goodwill.
FGNV Cash Flow 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.
| Metric | Q3'2510-Q | Q2'25Filing | Q1'25Filing | Q4'24Filing | Q3'24Filing | Q2'24Filing | Q1'24Filing | Q4'23Filing |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$76Kn/m | $89Kn/m | -$19Kn/m | $49Kn/m | -$17Kn/m | -$136Kn/m | -$79Kn/m | -$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 | $68Kn/m | $10K+873.6% | N/A | N/A | $0-100.0% |
| Free Cash Flow | N/A | N/A | N/A | -$19Kn/m | -$26Kn/m | N/A | N/A | -$84K-876.3% |
| Investing Cash Flow | N/A | N/A | N/A | -$68Kn/m | -$10Kn/m | N/A | N/A | $0n/m |
| Financing Cash Flow | $111K+1292.6% | -$47K-125.3% | -$4K-104.6% | $23K-70.9% | $8K-95.3% | $184K+167.3% | $78K+531.9% | $78Kn/m |
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.
| Metric | Q3'2510-Q | Q2'25Filing | Q1'25Filing | Q4'24Filing | Q3'24Filing | Q2'24Filing | Q1'24Filing | Q4'23Filing |
|---|---|---|---|---|---|---|---|---|
| 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 | 0.020.0x | 0.01 |
| Liabilities-to-Equity | N/A | 7.67+2.2x | 7.08+3.5x | 6.11+3.5x | 5.87+3.8x | 5.51+3.9x | 3.55+0.7x | 2.58 |
| 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.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it. Market cap is stated at each company's latest close.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Forge Innovation DEV Corp FGNV | FY2024 | $668K | -$1.3M | N/A | N/A | — |
| Awaysis Capital Inc AWCA | FY2026 | $1.3M | -$2.6M | N/A | $5.8M | — |
| AmBase Corp ABCP | FY2025 | N/A | N/A | N/A | $20.4M | — |
| Nam Tai Property Inc NTPIF | FY2025 | $48.0M | $110K | 0.2% | $262.3M | — |
Where Forge Innovation DEV Corp Ranks
Frequently Asked Questions
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.
Forge Innovation DEV Corp (FGNV) revenue grew by 52.4% year-over-year, from $438K to $668K in fiscal year 2024.
No, Forge Innovation DEV Corp (FGNV) reported a net loss of $1.3M in fiscal year 2024.
As of fiscal year 2024, Forge Innovation DEV Corp (FGNV) had $405 in cash and equivalents against $20K in long-term debt.
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.
Forge Innovation DEV Corp (FGNV) recorded an outflow of $266K in free cash flow during fiscal year 2024. The change from the previous fiscal year is not meaningful, because that year’s figure was zero or negative. 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.
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.
Forge Innovation DEV Corp (FGNV) had $8.2M in total assets as of fiscal year 2024, including both current and long-term assets.
Forge Innovation DEV Corp (FGNV) invested $83K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
Forge Innovation DEV Corp (FGNV) had a current ratio of 1.27 as of fiscal year 2024, which is considered adequate.
Forge Innovation DEV Corp (FGNV) had a debt-to-equity ratio of 0.02 as of fiscal year 2024. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.
Forge Innovation DEV Corp (FGNV) had a liabilities-to-equity ratio of 6.11 as of fiscal year 2024, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity.
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.
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.
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.
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.