Forge Global Holdings, Inc.
forgeglobal.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q3 FY2025 10-Q, filed Nov 13, 2025. Its latest SEC filing is a 15-12G from Mar 12, 2026.
10-Q for Q3 FY2025, filed Nov 13, 2025
The sections below describe the company as of the FY2024 annual report.
What Did They Do?
Runs a marketplace for private-company shares and provides investment, liquidity, and custody services to investors, shareholders, and private companies.
10-K for FY2024, filed Mar 6, 2025The flagship product of Forge’s private market platform is the Forge marketplace, which is designed to efficiently connect buyers looking…View ↗
Through our Private Company Solutions ("PCS"), we engage with private companies to deliver comprehensive, tailored solutions for their…View ↗
As noted in “Forge Fund Investments” above, FGA operates as a registered investment advisor that manages a suite of SAFs that invest in…View ↗
Forge Trust, our non-depository trust company, provides investors custodial services for self-directed retirement accounts ("SDIRAs”)…View ↗
How Did They Make Money?
Marketplace fees come from private-share trades, with a fee per share, flat charge, or percentage of proceeds invoiced when a transaction closes. Custody fees come from customer cash balances and account or asset administration over time, with account and asset fees assessed quarterly and transaction fees when account holders transact.
10-K for FY2024, filed Mar 6, 2025
$79.3M
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10-K for FY2024, filed Mar 7, 2025
$79.3M ↗
Who Were Their Customers?
Investors and private shareholders use Forge’s marketplace to trade private shares; private companies use its liquidity and capital-raising programs. Clients may come through third-party brokers, company programs, or partnerships.
10-K for FY2024, filed Mar 6, 2025The flagship product of Forge’s private market platform is the Forge marketplace, which is designed to efficiently connect buyers looking…View ↗
Through our Private Company Solutions ("PCS"), we engage with private companies to deliver comprehensive, tailored solutions for their…View ↗
Types of Clients — The type of client may influence our solution revenue. Institutional and individual clients may be charged fee rates…View ↗
Did Revenues Turn Into Profits?
No. It lost $66.3M in FY2024.
10-K for FY2024, filed Mar 7, 2025
−$82.3MView ↗
10-K for FY2024, filed Mar 7, 2025
−$66.3MView ↗
10-K for FY2024, filed Mar 7, 2025
−$41.3MView ↗
How Were They Changing?
- Net income
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Sources
10-Q for Q3 FY2025, filed Nov 14, 2025
−$18.2MView ↗
- ▼ −1% (Loss)
- vs −$18.3M in Q3 FY2024
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Mar 2, 2026
Forge became a Schwab subsidiary and its shares were delisted
The merger made Forge a wholly owned subsidiary of Schwab; Forge notified the NYSE and requested removal of its shares from listing.
Sources
8-K, filed Mar 2, 2026
On March 2, 2026, upon the consummation of the Merger and prior to the commencement of trading, the Company notified the New York Stock…View ↗
Grew. Revenue grew 54% in 4 years, from $51.6M in FY2020 to $79.3M in FY2024, about 11% a year.
From shell to operating platform
The older report described Motive Capital as a shell company seeking a business combination, with no operations or revenue. The latest describes Forge as a private-market platform for share trading, liquidity and fundraising, investment funds, data, and custody.
10-K for FY2021, filed Mar 16, 2022 10-K for FY2024, filed Mar 6, 2025GeneralView ↗
Forge is committed to democratizing access to private markets through our comprehensive suite of private market solutions, including a…View ↗
Through our Private Company Solutions ("PCS"), we engage with private companies to deliver comprehensive, tailored solutions for their…View ↗
As noted in “Forge Fund Investments” above, FGA operates as a registered investment advisor that manages a suite of SAFs that invest in…View ↗
DataView ↗
Forge Trust, our non-depository trust company, provides investors custodial services for self-directed retirement accounts ("SDIRAs”)…View ↗
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