Forum Markets Q3 revenue falls 51%; cuts 2026 outlook
FRMM•Forum Markets' third-quarter revenue fell 51% year over year to $2 million, all from engine leases, while net income was $7.85 million. The company cut its 2026 revenue outlook to $8 million-$9 million from $18 million-$22 million and maintained its 2027 outlook of $125 million-$175 million.
1. Quarterly results
Forum Markets reported third-quarter revenue of $2 million, down 51% year over year, with all revenue generated by commercial aircraft engine leases. Net income was $7.85 million, including a $13.9 million non-cash gain from the change in fair value of digital assets.
2. Outlook reduced
The company now expects 2026 revenue of $8 million to $9 million, down from its prior outlook of $18 million to $22 million, and no longer expects to recognize AI compute revenue in 2026. It maintained its 2027 revenue outlook of $125 million to $175 million.
3. AI deployment costs
Forum Markets said it slowed deployment of initial AI compute capacity because of rapidly rising compute, equipment and financing costs, which accelerated after the midterm elections.
