The following is a summary of the Forge Global Holdings, Inc. (FRGE) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Forge Global Holdings reported Q1 2024 revenue of $19.2 million, up 2% from last quarter.

• Total marketplace revenues were $8.5 million, a slight increase from $8 million in the previous quarter.

• Custodial cash balances declined to $481 million at the end of Q1, resulting in a 2% decline in total custodial administration fees to $10.7 million.

• The company's net loss for Q1 was $19 million, a reduction from the previous quarter's $26.2 million.

• Cash and cash equivalents stood at $130.7 million at quarter end.

Business Progress:

• Forge released Forge Pro and marked the fourth consecutive quarter of revenue improvement.

• The company expanded into Europe with trade executions already made in that region.

• The Forge Accuidity Private Market Index has gained momentum and is now being tracked by the Accuidity Megacorn Fund.

• The strategy for the rest of 2024 includes managing expenses while investing in strategic priorities.

• The company expects trading volume to be influenced by improved investor sentiment, an optimal outlook on interest rates, and IPO market recovery, with promising market indicators already observed.

• Forge Global launched Forge Europe with executives in London and Germany, working towards regulatory approval for operations and driving revenue generation.

• Future plans include focusing on printing trades and extending their global order book to European investors.

More details: Forge Global IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.