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Forum Markets (FRMM) AI Stock Analysis
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Forum Markets
(NASDAQ:FRMM)
The score is held down primarily by very large ongoing losses and sustained negative cash flow despite revenue growth and strong gross margins. Technicals are bearish with price below major moving averages and negative MACD, only partially offset by oversold readings. Valuation support is limited due to a negative P/E and no dividend yield provided, while recent AI infrastructure contracts/JV announcements are a meaningful positive catalyst but not yet reflected in profitability or cash generation.
Forum Markets (FRMM) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- $45.54M
- Dividend Yield
- ―
- Average Volume (3M)
- 146.15K
- Price to Earnings (P/E)
- -0.1
- Beta (1Y)
- 2.78
- Revenue Growth
- ―
- EPS Growth
- 41.70%
- Country
- US
- Employees
- 8
- Sector
- Technology
- Sector Strength
- 61
- Industry
- Software - Application
Forum Markets Business Overview & Revenue Model
Company Description
Operating within the decentralized finance (DeFi) sector, ETHZilla Corp. is a technology firm. Its core mission is to facilitate global connectivity among financial institutions, enterprises, and various organizations by providing secure and readily...
Forum Markets Financial Statement Overview
Summary
Strong gross margin (~82%) and positive revenue growth (TTM +14.5%) are outweighed by extremely large and persistent losses (TTM net income -$527.4M; net margin ~-4,897%) and ongoing cash burn (TTM operating cash flow -$57.0M; free cash flow -$73.8M). Balance-sheet leverage is moderate (debt-to-equity ~0.20), but equity has shrunk materially (from $239.4M to $127.8M), reflecting financial stress.
Income Statement
12Very NegativeBalance Sheet
46NeutralCash Flow
18Very Negative| Breakdown | TTM | Mar 2026 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 10.77M | 6.55M | 0 | 0 | 0 | 0 |
| Gross Profit | 8.87M | 6.55M | -58.28K | -105.67K | 0 | 0 |
| EBITDA | -522.20M | -440.48M | -6.32M | -22.13M | -39.53M | -20.05M |
| Net Income | -527.44M | -450.52M | -6.17M | -19.94M | -38.73M | -20.32M |
Balance Sheet | ||||||
| Total Assets | 159.03M | 306.30M | 12.76M | 5.26M | 19.65M | 62.71M |
| Cash, Cash Equivalents and Short-Term Investments | 4.10M | 8.02M | 4.59M | 1.98M | 6.97M | 8.22M |
| Total Debt | 25.95M | 26.20M | 154.50K | 1.05M | 1.34M | 1.96M |
| Total Liabilities | 31.23M | 66.88M | 3.51M | 5.39M | 8.31M | 23.39M |
| Stockholders Equity | 127.80M | 239.42M | 9.25M | -127.73K | 11.34M | 39.32M |
Cash Flow | ||||||
| Free Cash Flow | -73.77M | -26.05M | -1.48M | -10.92M | -12.13M | -19.37M |
| Operating Cash Flow | -56.96M | -26.05M | -1.48M | -10.92M | -12.13M | -19.37M |
| Investing Cash Flow | -73.60M | -127.63M | 0 | 0 | 0 | 0 |
| Financing Cash Flow | 132.44M | 158.15M | 4.04M | 5.91M | 10.87M | 25.41M |
Forum Markets Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FRMM, the sentiment is Negative. The current price of 3.45 is below the 20-day moving average (MA) of 3.89, below the 50-day MA of 4.61, and below the 200-day MA of 4.50, indicating a bearish trend. The MACD of -0.35 indicates Negative momentum. The RSI at 36.14 is Neutral, neither overbought nor oversold. The STOCH value of 68.98 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FRMM.
Forum Markets Risk Analysis
Forum Markets disclosed 33 risk factors in its most recent earnings report. Forum Markets reported the most risks in the "Finance & Corporate" category.
Latest Risks Added
1 New RiskForum Markets Peers Comparison
Overall Rating
SY51Neutral
ANRO45Neutral- FRMM44Neutral
FLD43Neutral
CNCK40Underperform
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| Sector * | 61Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% |
| SY | 51Neutral | $201.23M | -7.24 | -15.75% | ― | 30.18% | 61.28% |
| ANRO | 45Neutral | $886.87M | -9.11 | -46.46% | ― | ― | -3.04% |
| FRMM | 44Neutral | $45.54M | -0.10 | -215.13% | ― | ― | 41.70% |
| FLD | 43Neutral | $29.33M | -0.36 | -129.54% | ― | 84.83% | 12.54% |
| CNCK | 40Underperform | $241.67M | -21.14 | -8.41% | ― | ― | ― |
* Technology Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| FRMM | Forum Markets, Incorporated | 3.45 | -13.85 | -80.06% | |
| SY | So-Young International | 2.00 | -1.47 | -42.36% | |
| CNCK | Coincheck Group N.V. | 1.26 | -2.34 | -65.00% | |
| FLD | Fold Holdings, Inc. | 0.53 | -2.78 | -83.87% | |
| ANRO | Alto Neuroscience, Inc. | 22.60 | 10.43 | 85.70% |
Forum Markets Corporate Events
Forum Markets Secures Major AI GPU Capacity Deal
PositiveOn October 26, 2026, Forum Edge AI LLC, the joint venture between Forum Markets and Edge Node Inc., signed a definitive 36‑month agreement with Fireworks AI for reserved Nvidia B300 GPU capacity at Edge Node’s Dallas data center. The ente...
Forum Markets Forms Joint Venture for AI Infrastructure
PositiveOn October 2, 2026, Forum Markets and Edge Node Inc. entered into an amended and restated agreement to form Forum Edge AI LLC, a Delaware joint venture in which Forum holds 51% and serves as sole manager, while Edge Node holds 49%. The venture will o...
Forum Markets Announces Routine Board Governance Change
NeutralForum Markets, Incorporated announced that director Crystal Heter resigned from its Board of Directors and from the Audit, Compensation and Nominating and Corporate Governance committees, effective August 19, 2026. The company said her departure did...
Forum Markets Stockholders Approve Governance and Auditor Matters
PositiveOn August 19, 2026, Forum Markets held its 2026 Annual Meeting of Stockholders, with 68.50% of eligible shares represented, establishing a quorum for corporate action. Stockholders elected McAndrew Rudisill, Ryan Smith and Jason New as Class II direc...
Forum Markets Expands Into Aircraft Engine Leasing
PositiveOn July 28, 2026, Forum Markets, via its new subsidiary Eurus Aerospace Token I LLC, purchased a CFM56-7B aircraft engine and associated parts and records from Aero Engine Solutions, Inc. for $11.65 million in cash. The engine was immediately placed...
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.
Date of analysis: Oct 26, 2026