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FRMO Corp. reports developments tied to its role as an intellectual capital firm providing consulting and advisory services in the asset management sector and engaging in digital asset mining. Recurring updates cover fiscal results, consulting and advisory fee revenue, book value, securities and digital asset valuation disclosures, and balance-sheet items such as cash, equity securities, deferred taxes, and securities sold but not yet purchased.
Company news also includes governance and reporting matters, including annual meeting information, auditor changes, financial-statement restatements, non-reliance determinations, OTC reporting compliance, and leadership succession following changes in executive management.
FRMO (OTCID:FRMO) reported fiscal 2026 third quarter results for the period ended February 28, 2026, with total book value $795.2M and equity attributable to shareholders $376.7M ($8.56/share). Q3 net income attributable to the company was $83.4M ($1.89 diluted) versus a prior-year loss.
Other notable items: other income, net $308.4M for the quarter; consulting fees declined to $0.9M (-61% YoY); current assets were $46.3M and total liabilities $124.3M. Management appointed co‑CEOs Peter Doyle and Steven Bregman and CFO David Arndt; a conference call is scheduled April 21, 2026 at 4:15 PM ET.
FRMO (NASDAQ:FRMO) announced the sudden passing of founder and Chief Executive Officer Murray Stahl on April 7, 2026.
Murray co-founded FRMO in 1993 and helped build a publicly traded company with a market capitalization of over $300 million, a debt-free balance sheet, and a long-horizon investment portfolio. FRMO named Steven Bregman and Peter Doyle as co-Chief Executive Officers as part of its succession plan.
The company expressed condolences to Murray's family and said it will work to preserve and grow his legacy while remaining committed to clients and shareholders.
FRMO (OTC:FRMO) reported fiscal 2026 second quarter results for the period ended November 30, 2025. Total book value was $530.0 million and equity attributable to shareholders was $293.3 million ($6.66 per share).
Current assets were $46.4 million and total liabilities were $81.8 million. FRMO recorded a quarterly net loss attributable to the company of $13.0 million ($0.30 per diluted share) and a six‑month net loss of $26.4 million ($0.60 per diluted share).
FRMO (OTC:FRMO) completed a restatement of financial statements for fiscal years ended May 31, 2024 and 2025 and interim periods, plus quarterly financials for the three months ended August 31, 2025.
The company plans to file remaining quarterly reports for Nov 30, 2025 and Feb 28, 2026 to return to OTC compliance after correcting deferred tax liability and income tax provision valuations.
FRMO (OTCID:FRMO) announced on January 15, 2026 that certain previously issued financial statements should no longer be relied upon and that it will delay filing condensed consolidated financial statements for the three and six months ended November 30, 2025.
The Audit Committee, with management and CBIZ CPAs P.C., concluded restatements are required to correct the valuation of deferred tax liabilities and the provision for income taxes related to unrealized gains on investments, equity securities, and digital assets for years ended May 31, 2025 and 2024 and several interim periods (Affected Periods). The company said it does not believe the amendments will affect cash and cash equivalents, total assets, net income or loss from operations before income taxes, cash paid for income taxes, or cash flows from operations. FRMO will file a Notification of Late Filing and intends to restate the identified periods.
FRMO (OTC Pink: FRMO) announced a change in its independent certifying accountant effective November 5, 2025. The company terminated Baker Tilly US, LLP and engaged CBIZ CPAs P.C., a PCAOB-registered firm, to audit FRMO’s financial statements for the fiscal year ending May 31, 2026. The board and audit committee approved the change.
The company stated the change was not due to any disagreement with Baker Tilly on accounting principles, disclosure, or audit scope, and prior Baker Tilly reports for FY2025 and FY2024 contained no adverse or modified opinions. There were no consultations with CBIZ in the two most recent years through November 5, 2025.
FRMO (OTC Pink: FRMO) reported results for the fiscal 2026 first quarter ended August 31, 2025. Total book value was $590.4M and equity attributable to shareholders was $337.2M ($7.66/share), down from $651.2M and $353.0M ($8.02/share) at May 31, 2025. Current assets were $409.4M; total liabilities were $58.7M. FRMO reported a net loss attributable to the company of $15.9M ($0.36 diluted) versus net income $34.5M a year earlier. Excluding unrealized investment effects, adjusted net loss was $3.9M ($0.09).
Management will host a conference call on Oct 20, 2025 at 4:15 PM ET; registration required.
FRMO Corp. (OTC Pink: FRMO) has reported significant financial growth for fiscal year 2025. The company's total book value reached $651.2 million as of May 31, 2025, with shareholders' equity of $353.0 million ($8.02 per share), up from $242.1 million ($5.50 per share) in the previous year.
Annual net income attributable to FRMO increased to $107.5 million ($2.44 per diluted share) from $72.6 million ($1.65 per diluted share) year-over-year. However, the company reported a Q4 net loss of $35.2 million ($(0.80) per share), primarily due to unrealized losses from equity securities and investments.
Current assets grew to $471.8 million, with significant holdings in cash, equity securities, and digital assets. The company announced its Annual Meeting will be held on September 10, 2025, available both in-person and virtually.
FRMO Corp. (OTC Pink: FRMO) announced significant changes to its Board leadership structure. Murray Stahl, who has served as Chairman since the company's inception in 2001, has stepped down from his position but will continue as Chief Executive Officer. The Board has appointed Peter Doyle as the new Chairman and Rimmy Malhotra as Vice Chairman and Lead Independent Director. Following these changes, the Board size has been set to 8 members.
FRMO Corp. (OTC Pink: FRMO) has released its fiscal 2025 third quarter results ending February 28, 2025. The company's total book value reached $751 million, with shareholders' equity at $385 million ($8.74 per share), up from $242.1 million ($5.50 per share) at the end of May 2024.
Current assets increased to $567.2 million, primarily consisting of cash and equity securities. However, the company reported a quarterly net loss of $(28.7) million ($(0.65) per share) compared to a profit of $13 million ($0.30 per share) in the previous year. For the nine-month period, net income rose to $142.7 million ($3.24 per share) from $50 million ($1.14 per share).
The company's investment portfolio showed significant changes, with equity securities at fair value reaching $504.9 million and digital assets at $13.8 million. Total liabilities increased to $72.6 million, mainly due to securities sold and deferred taxes.