Forge Global Q2 revenue up 15% QoQ to $22M; COO Drew Sievers to depart Dec 31

Forge Global Holdings, Inc.

2024-Q2 EPS reported -$0.18 revenue$41,524,000

Total revenue less transaction-based expenses $22.0M (+32% YoY); net loss narrowed to $14.0M from $19.0M QoQ.
Trading volume $426.3M (+178% YoY); net take rate 2.7% (down from 3.2% prior quarter).
Planned expense reductions expected to save $11.3M annually, including ~11% headcount reduction.
COO Drew Sievers to separate effective Dec 31, 2024 per mutual agreement.
Cash and equivalents $120.5M; adjusted EBITDA loss improved to $7.9M from $13.5M QoQ.

item 2.02 item 5.02 item 9.01

Executive movements

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Departed

Drew Sievers

Chief Operating Officer

Forge Global Holdings, Inc.

Effective: 2024-12-31
Filed: August 7, 2024, 7:59 PM ET

On August 7, 2024, Drew Sievers and the Company mutually agreed that Mr. Sievers would separate from the Company as its Chief Operating Officer effective December 31, 2024.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Drew Sievers departed as Chief Operating Officer at Forge Global Holdings, Inc..

Action: separated
Role: Chief Operating Officer

Exact text from the filing

On August 7, 2024, Drew Sievers and the Company mutually agreed that Mr. Sievers would separate from the Company as its Chief Operating Officer effective December 31, 2024.

View on SEC.gov

Source: SEC EDGAR

accession 0001628280-24-035659

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