Q2 2026 Forum Markets, Inc Earnings Call Transcript
Key Points
- Repurchased approximately 7.1 million shares (35% of outstanding) at an average price of $4.42 per share, retiring all shares to enhance shareholder value.
- Expanded aviation portfolio to five commercial aircraft engines under long-term leases with two major US airlines, targeting double-digit annual returns.
- Advanced AI infrastructure vertical, with a phased AI compute transaction expected to complete and generate revenue in Q4 2026, contributing significantly to back-half revenue.
- Maintained a clean balance sheet with zero leverage, providing flexibility to deploy capital into high-return opportunities.
- Reiterated full-year 2026 revenue guidance of $18 million to $22 million, with expectations to achieve cash flow positivity by early 2027.
- Revenue declined to $1.4 million in Q2 2026 from $2.9 million in Q1, primarily due to the elimination of $1.8 million in staking revenue from selling Ethereum holdings.
- General and administrative expenses increased to $10.3 million in Q2, including $3.8 million in non-cash stock-based compensation and $1.8 million in one-time charges.
- Net loss from continuing operations was $12.4 million in Q2, though improved from a $77.5 million loss in Q1.
- Capital allocation prioritized share repurchases over acquiring revenue-generating assets, temporarily slowing asset base growth.
- Tokenization market for private assets remains underdeveloped, with liquidity.io's platform upgrade not yet generating significant revenue or market traction.
Hello, and welcome to Forum Markets second quarter 2026 earnings conference call. (Operator Instructions) This call is being recorded on August 13, 2026, and a replay will be made available on Forum Investor Relations' website later today.
I will now turn the call over to John Christof, Senior Vice President, Corporate Communications and Investor Relations.
Thank you, Meghan. Hello, and thank you all for joining Forum's second quarter 2026 financial results conference call.
Joining me on the call today are McAndrew Rudisill, Chairman and Chief Executive Officer and John Saunders, Chief Financial Officer. We hope you've had the opportunity to review our second quarter financial results issued earlier this morning. We've also posted an earnings presentation to our Investor Relations website.
As a reminder, some of the matters we'll be discussing on this morning's call are forward-looking in nature. Please keep in mind that actual
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