Forum Markets Incorporated Financials

FRMM

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

This page shows Forum Markets Incorporated (FRMM) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 8 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).

Financial Health Signals

Piotroski F-Score Neutral

4/9

Forum Markets Incorporated passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass.

Earnings Quality Low Quality

0.24x

For every $1 of reported earnings, Forum Markets Incorporated generates $0.24 in operating cash flow (-$1.5M OCF vs -$6.2M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk

-13543.3x

Forum Markets Incorporated earns $-13543.3 in operating income for every $1 of interest expense (-$6.3M vs $467). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Revenue

N/A

EBITDA

-$6.3M

YoY+53.1%

Forum Markets Incorporated's EBITDA was -$6.3M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 53.1% from the prior year.

Free Cash Flow

N/A

Net Income

-$6.2M

YoY+69.1%

Forum Markets Incorporated reported -$6.2M in net income in fiscal year 2024. This represents an increase of 69.1% from the prior year.

EPS (Diluted)

$-15.49

YoY+70.5%

Forum Markets Incorporated earned $-15.49 per diluted share (EPS) in fiscal year 2024. This represents an increase of 70.5% from the prior year.

Cash & Debt

$4.6M

YoY+167.7%

5Y CAGR+122.7%

Forum Markets Incorporated held $4.6M in cash against $0 in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

317,705

YoY-40.6%

Forum Markets Incorporated had 317,705 shares outstanding in fiscal year 2024. This represents a decrease of 40.6% from the prior year.

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

N/A

R&D Spending

$1.4M

YoY-39.2%

5Y CAGR-6.7%

Forum Markets Incorporated invested $1.4M in research and development in fiscal year 2024. This represents a decrease of 39.2% from the prior year.

Share Buybacks

N/A

Capital Expenditures

N/A

FRMM Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	$1.4M-39.2%	$2.3M+5.1%	$2.2M+119.0%	$1.0M-54.9%	$2.2M+11.9%	$2.0M
SG&A Expenses	$4.4M-59.1%	$10.6M-31.1%	$15.5M+37.7%	$11.2M+254.3%	$3.2M-43.5%	$5.6M
Operating Income	-$6.3M+53.1%	-$13.5M+24.7%	-$17.9M-14.4%	-$15.6M-176.9%	-$5.6M+72.9%	-$20.9M
Interest Expense	$467-99.0%	$45K+59.1%	$28K+10.8%	$25K-86.2%	$185K+13.9%	$162K
Income Tax	-$296K+87.4%	-$2.3M-149.2%	-$943K-3962.9%	-$23K-13.6%	-$20K-115.1%	-$9K
Net Income	-$6.2M+69.1%	-$19.9M+48.5%	-$38.7M-90.5%	-$20.3M-86.7%	-$10.9M+57.1%	-$25.4M
EPS (Diluted)	$-15.49+70.5%	$-52.59+86.4%	$-387.18	$-12.96	N/A	$-0.02

Metric	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23
Revenue	$4.1M	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	$182K-24.3%	$241K	N/A	$252K+111.7%	$119K-67.5%	$365K	N/A
SG&A Expenses	$224.6M+15855.9%	$1.4M-29.5%	$2.0M	N/A	$596K-62.6%	$1.6M+2.4%	$1.6M	N/A
Operating Income	-$220.5M-12642.3%	-$1.7M+27.1%	-$2.4M	N/A	-$596K+67.7%	-$1.8M+11.7%	-$2.1M	N/A
Interest Expense	$320K+11872.6%	$3K+5.2%	$3K	N/A	$0-100.0%	$11K-30.9%	$16K	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$216.7M-12453.1%	-$1.7M+27.1%	-$2.4M	N/A	-$837K-7202.3%	$12K+101.1%	-$1.1M	N/A
EPS (Diluted)	$-16.80	$-0.30+55.2%	$-0.67	N/A	$-5.43-54400.0%	$0.01+100.6%	$-1.68	N/A

FRMM Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$12.8M+142.7%	$5.3M-73.2%	$19.7M-68.7%	$62.7M+12.9%	$55.5M+7.0%	$51.9M
Current Assets	$5.1M+41.3%	$3.6M-59.2%	$8.9M-20.3%	$11.2M+179.0%	$4.0M+436.5%	$748K
Cash & Equivalents	$4.6M+167.7%	$1.7M-75.5%	$7.0M-15.3%	$8.2M+290.1%	$2.1M+2428.4%	$83K
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	$0	$0-100.0%	$37.0M+0.2%	$36.9M+1.3%	$36.4M
Total Liabilities	$3.5M-34.8%	$5.4M-35.1%	$8.3M-64.5%	$23.4M-7.3%	$25.2M+89.6%	$13.3M
Current Liabilities	$3.5M-30.8%	$5.1M-10.5%	$5.7M-71.3%	$19.7M-8.0%	$21.4M+122.2%	$9.6M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$9.3M+7343.2%	-$128K-101.1%	$11.3M-71.2%	$39.3M+29.8%	$30.3M-21.5%	$38.6M
Retained Earnings	-$141.5M-11.1%	-$127.3M-18.6%	-$107.4M-56.4%	-$68.7M-42.0%	-$48.4M-29.0%	-$37.5M

Metric	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23
Total Assets	$1.0B+9320.4%	$10.7M-8.0%	$11.7M-8.7%	$12.8M+21.9%	$10.5M+167.7%	$3.9M+13.6%	$3.4M-34.6%	$5.3M
Current Assets	$561.9M+18073.6%	$3.1M-23.2%	$4.0M-21.6%	$5.1M+319.6%	$1.2M-47.8%	$2.3M+26.6%	$1.9M-49.0%	$3.6M
Cash & Equivalents	$53.3M+2303.1%	$2.2M-40.4%	$3.7M-18.5%	$4.6M+2942.1%	$150K-86.9%	$1.1M+69.6%	$676K-60.4%	$1.7M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$0
Total Liabilities	$564.2M+10477.8%	$5.3M+35.2%	$3.9M+12.4%	$3.5M-47.9%	$6.7M+55.6%	$4.3M-1.5%	$4.4M-18.4%	$5.4M
Current Liabilities	$55.8M+946.0%	$5.3M+35.3%	$3.9M+12.5%	$3.5M-45.1%	$6.4M+59.0%	$4.0M-1.6%	$4.1M-19.4%	$5.1M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$445.1M+8173.1%	$5.4M-30.2%	$7.7M-16.7%	$9.3M+147.8%	$3.7M+993.3%	-$418K+56.2%	-$954K-647.2%	-$128K
Retained Earnings	-$362.4M-148.8%	-$145.6M-1.2%	-$143.9M-1.7%	-$141.5M-9.5%	-$129.2M-0.7%	-$128.4M0.0%	-$128.4M-0.8%	-$127.3M

FRMM Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	-$1.5M+86.4%	-$10.9M+9.9%	-$12.1M+37.4%	-$19.4M-400.3%	-$3.9M-16.7%	-$3.3M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	$14.5M+2146.3%	-$708K
Financing Cash Flow	$4.0M-31.7%	$5.9M-45.7%	$10.9M-57.2%	$25.4M+391.0%	-$8.7M+91.8%	-$106.5M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23
Operating Cash Flow	-$16.4M-1353.0%	-$1.1M-32.5%	-$854K+8.6%	-$934K-289.4%	-$240K-133.0%	$727K+170.4%	-$1.0M+52.2%	-$2.2M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	$825.5M+235950.4%	-$350K-10442.2%	-$3K-100.1%	$5.0M+1150.1%	-$481K-81.5%	-$265K-0.2%	-$264K-118.0%	$1.5M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$16.1M	N/A	N/A	N/A	N/A	N/A	N/A	N/A

FRMM Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-48.3%+330.7pp	-379.0%-181.9pp	-197.1%-164.7pp	-32.4%-12.8pp	-19.6%+29.3pp	-48.9%
Current Ratio	1.47+0.7	0.72-0.9	1.58+1.0	0.57+0.4	0.19+0.1	0.08
Debt-to-Equity	0.38+42.6	-42.18-42.9	0.73+0.1	0.59-0.2	0.83+0.5	0.35
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	-5364.6%	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	-5273.3%	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-21.5%-5.3pp	-16.1%+4.2pp	-20.3%	N/A	-8.0%-8.3pp	0.3%+31.4pp	-31.1%	N/A
Current Ratio	10.07+9.5	0.58-0.4	1.02-0.4	1.47+1.3	0.19-0.4	0.58+0.1	0.45-0.3	0.72
Debt-to-Equity	1.27+0.3	0.99+0.5	0.51+0.1	0.38-1.4	1.80+12.2	-10.36-5.8	-4.61+37.6	-42.18
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Frequently Asked Questions

Is Forum Markets Incorporated profitable?

No, Forum Markets Incorporated (FRMM) reported a net income of -$6.2M in fiscal year 2024.

What is Forum Markets Incorporated's earnings per share (EPS)?

Forum Markets Incorporated (FRMM) reported diluted earnings per share of $-15.49 for fiscal year 2024. This represents a 70.5% 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.

What is Forum Markets Incorporated's EBITDA?

Forum Markets Incorporated (FRMM) had EBITDA of -$6.3M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

What is Forum Markets Incorporated's operating cash flow?

Forum Markets Incorporated (FRMM) generated -$1.5M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Forum Markets Incorporated's total assets?

Forum Markets Incorporated (FRMM) had $12.8M in total assets as of fiscal year 2024, including both current and long-term assets.

How much does Forum Markets Incorporated spend on research and development?

Forum Markets Incorporated (FRMM) invested $1.4M in research and development during fiscal year 2024.

How many shares does Forum Markets Incorporated have outstanding?

Forum Markets Incorporated (FRMM) had 317,705 shares outstanding as of fiscal year 2024.

What is Forum Markets Incorporated's current ratio?

Forum Markets Incorporated (FRMM) had a current ratio of 1.47 as of fiscal year 2024, which is considered adequate.

What is Forum Markets Incorporated's debt-to-equity ratio?

Forum Markets Incorporated (FRMM) had a debt-to-equity ratio of 0.38 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Forum Markets Incorporated's return on assets (ROA)?

Forum Markets Incorporated (FRMM) had a return on assets of -48.3% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Forum Markets Incorporated's cash runway?

Based on fiscal year 2024 data, Forum Markets Incorporated (FRMM) had $4.6M in cash against an annual operating cash burn of $1.5M. This gives an estimated cash runway of approximately 37 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is Forum Markets Incorporated's Piotroski F-Score?

Forum Markets Incorporated (FRMM) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Forum Markets Incorporated's earnings high quality?

Forum Markets Incorporated (FRMM) has an earnings quality ratio of 0.24x, considered low quality (accrual-driven). 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.

Can Forum Markets Incorporated cover its interest payments?

Forum Markets Incorporated (FRMM) has an interest coverage ratio of -13543.3x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.