Financial health
- The company is unprofitable and has less than a year of cash runway at its current free-cash-flow burn.
FRMM Financials FORUM MARKETS Inc
9 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →
RevenueNet income
GrossOperatingNet
Free cash flow
CashTotal debt
OperatingInvestingFinancing
Key annual figures
| FY | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| 2025 | $7M | -$451M | 0.0% | -3565.8% | -$270M | — | $8M |
| 2024 | — | -$14M | — | — | — | — | $5M |
| 2023 | — | -$20M | — | — | — | — | — |
| 2022 | — | -$39M | — | — | — | — | — |
| 2021 | — | -$20M | — | — | — | — | — |
| 2020 | — | -$11M | — | — | — | — | $2M |
| 2019 | — | -$25M | — | — | — | — | $83396 |
| 2018 | — | $1M | — | — | — | — | $567220 |
| 2017 | — | $123764 | — | — | — | — | $428393 |
RevenueNet income
GrossOperatingNet
Free cash flow
CashTotal debt
OperatingInvestingFinancing
Key quarterly figures
| Quarter | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| Mar '26 | $3M | -$76M | 0.0% | -162.0% | -$37M | — | $66M |
| Dec '25 | $2M | -$230M | 0.0% | -394.2% | — | — | $8M |
| Sep '25 | $4M | -$217M | 0.0% | -5364.6% | — | — | $53M |
| Jun '25 | — | -$2M | — | — | — | — | — |
| Mar '25 | — | -$2M | — | — | — | — | — |
| Dec '24 | — | -$12M | — | — | — | — | $5M |
| Sep '24 | — | -$836720 | — | — | — | — | — |
| Jun '24 | — | $11781 | — | — | — | — | — |
| Mar '24 | — | -$1M | — | — | — | — | — |
| Dec '23 | — | -$1M | — | — | — | — | — |
| Sep '23 | — | -$10M | — | — | — | — | — |
| Jun '23 | — | -$4M | — | — | — | — | — |
| Mar '23 | — | -$5M | — | — | — | — | — |
| Dec '22 | — | -$22M | — | — | — | — | — |
| Sep '22 | — | -$21M | — | — | — | — | — |
| Jun '22 | — | $3M | — | — | — | — | — |
| Mar '22 | — | $2M | — | — | — | — | — |
| Dec '21 | — | $1M | — | — | — | — | — |
| Sep '21 | — | $18M | — | — | — | — | $12M |
| Jun '21 | — | -$23M | — | — | — | — | $2M |
Valuation over time
How the market has priced FRMM against its own fundamentals since 2026-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
- The price-to-sales ratio has risen from 6.4× (Mar '26) to 11.6× (Jun '26).
P/S
Frequently asked questions
Is FRMM growing its revenue and profit?
See the revenue and net-income charts above for FORUM MARKETS Inc's multi-year trend.
How much debt does FRMM have?
As of FY2025, FORUM MARKETS Inc reported — of total debt against $8M of cash.
What is FRMM's profit margin?
In FY2025, gross margin was —, operating margin -3565.8%, and net margin -6881.3%.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.