{"schema_version":"secwatch.filing_event.v1","accession":"0001213900-26-037398","form_type":"8-K","ticker":"FRMM","cik":"0001690080","company_name":"FORUM MARKETS Inc","filed_at":"2026-03-31T23:59:59+00:00","discovered_at":"2026-05-14T18:02:35.900139+00:00","generated_at":"2026-05-15T08:11:20.508658+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"neutral","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"Forum Markets reports FY 2025 rev $6.5M, net loss $450.5M; guides FY 2026 rev $18-26M","bullets":["FY 2025 revenue $6.5M; Q4 revenue $2.4M; net loss from continuing ops $450.5M primarily from non-recurring stock-based comp.","Adjusted EBITDA -$218.5M for full year 2025.","FY 2026 guidance: revenue $18-26M, exit AUM $125-200M; targeting FY 2027 AUM $300-400M.","Acquired 20% stake in Karus (AI auto credit), 15% in Zippy (manufactured housing); launched Eurus Aero Token; $4.7M home loans.","Appointed Angela Dalton and Michael Edwards as independent directors; Robert Spake as General Counsel."],"urls":{"canonical":"https://secwatch.observer/filing/0001213900-26-037398","json":"https://secwatch.observer/filing/0001213900-26-037398.json","markdown":"https://secwatch.observer/filing/0001213900-26-037398.md","text":"https://secwatch.observer/filing/0001213900-26-037398.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1690080/000121390026037398/0001213900-26-037398-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1690080/000121390026037398/ea0284284-8k_forum.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-15T08:11:20.508658+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"890030b5bb2b13874dbe5974a141c212129440f1","claim":"FORUM MARKETS Inc updated its the fourth quarter and full year ended December 31, 2025 guidance (initiated).","evidence_excerpt":"On March 31, 2026, Forum Markets, Incorporated (the “ Company ”) issued a press release announcing its financial results for the fiscal quarter and year ended December 31, 2025.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1690080/000121390026037398/0001213900-26-037398-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the fourth quarter and full year ended December 31, 2025"},{"label":"Guidance","value":"initiated"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}