Forum Markets Q1 net loss $77.5M, revenue $2.9M; cuts 2026 AUM & revenue outlook; buyback $25M

FORUM MARKETS Inc

Revenue $2.9M from aircraft engine leases ($1.1M) and staking ($1.8M); net loss $77.5M on digital asset losses.
Adjusted EBITDA loss of $76M; cash and equivalents $65.9M at quarter end.
After quarter end, repurchased 5.8M shares (28% outstanding) for $25M; shares outstanding ~14.5M as of April 30.
Entered AI infrastructure financing via NVIDIA GPU-backed bridge loans targeting mid-teens returns.
2026 guidance: AUM exit $100M-$175M (from $125M-$200M); revenue $18M-$22M (from $18M-$26M); 2027 AUM target $250M-$300M.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

FORUM MARKETS Inc reported the first quarter ended March 31, 2026 results: revenue $2.9 million. Guidance lowered.

Period: the first quarter ended March 31, 2026
Revenue: $2.9 million
Guidance: lowered
Result: reported results

Exact text from the filing

First Quarter 2026 GAAP Financial Highlights (in millions) For the Quarter Ended March 31, 2026 Revenue $ 2.9 Gross Profit $ 2.9 Cash and Cash Equivalents $ 65.9 ● Revenue of $2.9 million, driven primarily by aircraft engine lease revenue of $1.1 million, staking revenue of $1.8 million ● Net loss from Continuing Operations of $77.5 million, primarily

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Source: SEC EDGAR

accession 0001213900-26-056234

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