Forum Markets (NASDAQ:FRMM), a fintech company focused on real-world asset tokenization, reported its fourth-quarter and full-year 2025 financial results and provided 2026 guidance on its scaling RWA platform.
For the full year 2025, the company generated revenue of $6.5 million.
It recorded a GAAP net loss of $450.5 million and adjusted EBITDA of negative $218.5 million.
Forum Markets expects assets under management to reach between $125 million and $200 million by the end of 2026, with projected revenue in the range of $18 million to $26 million.
Key operational developments during the period included the launch of Eurus Aero Token I, the tokenization of a $4.7 million manufactured-housing loan portfolio yielding approximately 10.36%, and the establishment of a $10 million auto loan warehouse facility targeting 12–13% yield.
The company also completed a strategic rebrand and made several board and legal hires to support its growth initiatives.