Forum Markets, Incorporated (FRMM) Stock Score, Valuation & Financial Research

Forum Markets, Incorporated is in the Technology sector and Software - Application industry. It is reviewed using Wall Street Score's company-strength, valuation, growth and financial-health framework. A complete Wall Street Score is not currently available.

Quick answer for FRMM

Forum Markets, Incorporated does not currently have a complete Wall Street Score. The stored market price is USD 4.85. These figures are a research snapshot, not a buy or sell recommendation.

What Forum Markets, Incorporated does

Operating within the decentralized finance (DeFi) sector, ETHZilla Corp. is a technology firm. Its core mission is to facilitate global connectivity among financial institutions, enterprises, and various organizations by providing secure and readily accessible blockchain transactions, leveraging implementations of the Ethereum Network protocol. Furthermore, the company sustains its efforts in the biotechnology and gaming industries, overseeing their deployment and ongoing advancement. Founded on September 7, 2016, by Marc Feldmann, Lawrence J. Steinman, and Jonathan B. Rothbard, ETHZilla Corp. is headquartered in Palm Beach, Florida.

Company business and revenue

Research reporting period: 2025-12-31. A research update is not a new financial filing.

How the company makes money

Forum Markets generates revenue through asset yield, tokenization and structuring fees, and secondary trading activity. The company builds and operates infrastructure designed to originate, finance, and distribute real-world financial assets through blockchain-enabled capital markets.

Products and services

  • Infrastructure for the origination, financing, and distribution of tokenized real-world assets (RWAs) via blockchain-enabled capital markets.

Brands and product families

  • Liquidity.io — An SEC-registered alternative trading system in which the company holds a significant stake. Source

Customer types

Financial institutions; Businesses; Organizations.

Business strengths to evaluate

  • Strategic focus on tokenization of real-world assets Source

Business risks and research considerations

  • Operational risks associated with blockchain-enabled capital markets Source

Sources: Company research source

Company research refreshed 2026-10-12. This is saved research, not a live check of company relationships. Check the reporting period and source disclosures. Financial figures and scores follow their separate update schedules.

FRMM financial snapshot

Statement amounts: USD. Quote amounts: USD. No exchange-rate conversion is performed in this snapshot. Market-capitalization currency is not supplied by this projection.

Wall Street Score:
Not currently available
Stored price:
USD 4.85
Market capitalization:
64.07M (currency not supplied)
Revenue:
USD 10.77M
Net income:
USD -527.44M
Free cash flow:
USD -26.05M
Cash:
USD 4.1M
Total debt:
USD 25.95M
EPS:
USD -33.17

What stands out

  • Reported year-over-year revenue growth is +64.5%.
  • Free cash flow is USD -26.05M, negative for the stored period.
  • The balance sheet shows USD 4.1M of cash versus USD 25.95M of total debt, with debt exceeding cash on these two reported measures.
  • The current research record carries a fundamental change risk warning, which should be reviewed alongside the score.

Company-specific financial comparisons

The following are calculated from saved company data, not forecasts or statements about future performance. Differences in reporting dates or units can make a ratio misleading; verify the original filings.

  • Free cash flow is -241.9% of stored revenue. This is a simple cross-field ratio, not a verified same-period cash conversion margin; confirm reporting periods before comparison.
  • Net income equals -4896.8% of stored revenue. This is an indicative ratio only; accounting periods and units should be verified in filings.
  • Debt exceeds cash by USD 21.85M using the stored balance-sheet values. This does not include other obligations or restricted cash.

Questions worth answering for FRMM

Use these questions to check the stored figures against the latest company filings. They identify issues to investigate; they are not findings about management's plans or future results.

  • Can FRMM sustain its current revenue growth while also converting that growth into durable profit and free cash flow?
  • How long can FRMM fund negative free cash flow using its current cash position before it may need more debt or new shares?
  • Is FRMM's debt load manageable relative to cash generation, interest costs and upcoming maturities?
  • What specifically needs to improve for FRMM to reach sustainable profitability?
  • What does the current fundamental change risk warning mean for the reliability or interpretation of FRMM's score?

What the numbers mean

A complete valuation score is not currently available, so valuation should be checked using the available earnings, cash-flow and price data.

A complete financial score is not currently available, so investors should review cash, debt, earnings and cash flow directly.

A strong company and an attractive stock price are not always the same thing. Revenue, earnings, free cash flow, debt, management quality, competitive advantage and valuation should be considered together. Wall Street Score organizes these inputs into a consistent research framework so investors can identify what deserves deeper review.

Data freshness: Financial data last refreshed 2026-10-01.

Research-input completeness: 64% of the scoring inputs required for this public page are currently available.

How to research FRMM

Start by understanding how the company makes money. Then compare revenue and earnings trends, cash generation, debt, liquidity and valuation. Review the company's latest filings and earnings reports before acting on any score or model estimate.

Learn how to analyze a stock · Read the Wall Street Score methodology · Browse other stocks

Data may change as company filings and market prices update. Educational research only; not a buy or sell recommendation.