Forge Global Holdings, Inc. (FRGE) Revenue History
Annual and quarterly revenue from 2019 to 2024
Compound Annual Growth Rate (CAGR)
Loading revenue history...
FRGE Revenue Growth
Revenue Breakdown (FY 2024)
FRGE's revenue distribution by segment and geography for fiscal year 2024
By Product/Segment
By Geography
FRGE Revenue Analysis (2019–2024)
As of May 7, 2026, Forge Global Holdings, Inc. (FRGE) generated trailing twelve-month (TTM) revenue of $92.9 million, reflecting strong growth of +10.6% year-over-year. The most recent quarter (Q3 2025) recorded $21.3 million in revenue, down 23.4% sequentially.
Looking at the longer-term picture, FRGE's 5-year compound annual growth rate (CAGR) stands at +27.0%, indicating outstanding long-term growth trajectory. The company achieved its highest annual revenue of $128.1 million in 2021.
Revenue diversification analysis shows FRGE's business is primarily driven by Custodial Administration Fees (53%), and Marketplace (47%). With over half of revenue concentrated in Custodial Administration Fees, the company maintains significant focus in this area while developing other growth vectors.
When compared to Technology sector peers including ICE, CBOE, and MKTX. Compare FRGE vs ICE →
FRGE Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| FRGECurrent | $93M | +10.6% | +27.0% | -103.7% | |
 ICE | $12.6B | - | - | 38.7% | |
 CBOE | $4.7B | - | - | 32.1% | |
 MKTX | $817M | - | - | 41.7% | |
 TW | $2.1B | - | - | 41.2% | |
 LPRO | $93M | - | - | 6.4% |
FRGE Historical Revenue Data (2019–2024)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2024 | $79.3M | +13.6% | $-34,336,000 | -43.3% | $-82,263,000 | -103.7% |
| 2023 | $69.8M | +0.6% | $69.4M | 99.4% | $-91,449,000 | -131.0% |
| 2022 | $69.4M | -45.8% | $68.9M | 99.3% | $-135,040,000 | -194.6% |
| 2021 | $128.1M | +168.1% | $125.0M | 97.6% | $-9,789,000 | -7.6% |
| 2020 | $47.8M | +98.6% | $47.8M | 100.0% | $-7,617,000 | -15.9% |
| 2019 | $24.0M | - | $24.0M | 100.0% | $-14,646,000 | -60.9% |
See FRGE's True Return
Price is only half the story. See total return with reinvested dividends.
Launch CalculatorIs FRGE Undervalued?
DCF intrinsic value, peer multiples, and analyst estimates — see what the stock is really worth.
View ValuationCompare FRGE vs NVDA
Side-by-side business, growth, and profitability comparison vs NVIDIA Corporation.
Start ComparisonFRGE — Frequently Asked Questions
Quick answers to the most common questions about buying FRGE stock.
Is FRGE's revenue growth accelerating or slowing?
FRGE maintains +10.6% revenue growth, in line with its 5-year CAGR of +27.0%. TTM revenue stands at $93M. Growth rate remains consistent with historical average.
What is FRGE's long-term revenue growth rate?
Forge Global Holdings, Inc.'s 5-year revenue CAGR of +27.0% reflects the sustained expansion pattern. Current YoY growth of +10.6% is near this long-term average.
How is FRGE's revenue distributed by segment?
FRGE reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2019-2024 are available for download. Segment mix reveals concentration and diversification trends.