Expectations trend
FY2027 · fiscal year ending 2027-12-31 · fmp
FORUM MARKETS INC (FRMM)
NASDAQFinancialsSoftware - ApplicationSnapshot 2026-11-04
$3.04-13.64%
Close 2026-11-05 · 1-day change
NASDAQFinancialsSoftware - ApplicationSnapshot 2026-11-04
The long-term thesis, the evidence coming in, and the environment around it. Thesis dated Oct 4, 2026.
Next-FY EPS estimate change · 30 days
Matching fiscal periods, usable estimates and at least one analyst are required.
One observable signal. This measures changing earnings expectations, not the probability of a gain or loss.
The calculation requires same-period, same-provider snapshots, positive EPS, at least one analyst and a baseline within three days of the requested lookback.
The EPS and P/E reference is not available for FRMM yet.
| Measure / period | Management expectations | Analyst expectations |
|---|
Management figures unavailable.
Current consensus figures unavailable.
Three published thesis conditions, with dated milestones shown separately.
| Key Factor | Why It Matters | Current Status | Break Condition | Latest Evidence |
|---|---|---|---|---|
Increase assets under management to $100-$175 million by end of 2026 | A supporting condition in FORUM MARKETS INC's published investment case. The stated target is >=100 million. | Intact | assets under management fall below $100 million by end of FY26 | Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Date unavailableLast status assessment Nov 4, 2026Compare required operating outcomesCompare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management context |
Compare these dated observations with the operating requirements above
FY2027 · fiscal year ending 2027-12-31 · fmp
The evidence, the remaining questions, and what comes next
No recovery evidence is reported in the available driver assessments.
Nov 12, 2026
Observed price history; separate from operating scenarios
The weekly editorial context below is a separate assessment from the dated monitor evidence above. Recovery observations do not automatically change the published thesis. Unverified outside influences are hypotheses, not measured driver evidence.
This is speculative growth, not a proven compounder: earnings quality is loss-making, recent performance is weak, and management execution is volatile. The thesis is on watch, though the signal recently shifted from cautious to mixed.
FRMM carries a marked valuation premium versus peers, based on a durable-premium view, despite its losses and weak recent results. The evidence does not show that the market has priced in the full combination of weak performance and execution risk, so the expectations gap remains uncertain.
Near term, earnings-miss risk is elevated, and a guidance cut on the next call would be a meaningful setback. Management has introduced 2027 revenue guidance and signed a definitive Fireworks agreement, but reported quarterly revenue remains modest relative to its fiscal 2026 range, while the evidence does not confirm progress toward the assets-under-management goal.
Over the next few quarters, the key test is whether the Edge Node deployment and Fireworks agreement produce measurable revenue, and whether FRMM can support its revenue and assets-under-management targets with results. A guidance cut or falling interest rates would add pressure; continued earnings strength and higher guidance from sector bellwethers could support sector momentum.
For the 1-3 year view, FRMM has early partnership milestones but limited proof of delivery, weak recent results, and a high-risk, expensive setup. The thesis hinges on converting plans into sustained revenue and improving execution. Not investment advice.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Stated in a supplied disclosure. Management reported: “The Company continues to anticipate becoming cash flow positive in early 2027.”
Achieve total revenue of $18-$22 million in fiscal 2026 | A primary condition in FORUM MARKETS INC's published investment case. The stated target is >=18 million. | Intact | total revenue falls below $18 million in FY26 | Revenue: $1.365M FY2026-Q2; GAAP. Published target: >=18 million. Annual target cannot be compared with a quarterly or TTM observation. Aug 14, 20261,365,000 USD · source valueLast status assessment Nov 4, 2026Compare required operating outcomesCompare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management contextStated in a supplied disclosure. Management reported: “The Company continues to anticipate becoming cash flow positive in early 2027.” Delivery assessment Nov 4, 2026 |
Maintain and extend share repurchase program through June 2027 | A supporting condition in FORUM MARKETS INC's published investment case. The stated target is continue through June 2027. | Intact | share repurchase program is suspended or reduced | Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Date unavailableLast status assessment Nov 4, 2026Compare required operating outcomesCompare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management contextStated in a supplied disclosure. Management reported: “The Company continues to anticipate becoming cash flow positive in early 2027.” Delivery assessment Nov 4, 2026 |
Stored thesis · Oct 4, 2026. Latest Evidence uses source-matched measurements where available, alongside the last thesis-monitor assessment. Source periods and assessment dates are shown separately. A new measurement does not automatically change the published status or verify an older target.
$0.55 → $-0.98 · observed estimates
$0.05B → $0.13B · observed estimates
One fiscal period and provider throughout. At least five contributors are required for each plotted metric; missing coverage stays a gap. Axes show the observed range. Counts measure coverage, not revisions.
| Snapshot | EPS | Revenue | EPS / revenue analysts |
|---|---|---|---|
| 2026-08-03 | $0.55 | $45,902,000 | 1 / 1 |
| 2026-08-04 | $0.55 | $40,153,000 | 2 / 2 |
| 2026-08-05 | $0.55 | $40,153,000 | 2 / 2 |
| 2026-08-06 | $0.55 | $40,153,000 | 2 / 2 |
| 2026-08-07 | $0.55 | $45,902,000 | 1 / 1 |
| 2026-08-08 | $0.55 | $40,153,000 | 2 / 2 |
| 2026-08-09 | $0.55 | $40,153,000 | 2 / 2 |
| 2026-08-10 | $0.55 | $40,153,000 | 2 / 2 |
| 2026-08-11 | $0.55 | $40,153,000 | 2 / 2 |
| 2026-08-12 | $0.55 | $40,153,000 | 2 / 2 |
| 2026-08-13 | $0.55 | $40,153,000 | 2 / 2 |
| 2026-08-14 | $0.55 | $45,902,000 | 1 / 1 |
| 2026-08-15 | $0.55 | $45,902,000 | 1 / 1 |
| 2026-08-16 | $0.55 | $45,902,000 | 1 / 1 |
| 2026-08-17 | $0.55 | $45,902,000 | 1 / 1 |
| 2026-08-18 | $0.55 | $45,902,000 | 1 / 1 |
| 2026-08-19 | $0.55 | $45,902,000 | 1 / 1 |
| 2026-08-20 | $-0.57 | $47,019,000 | 1 / 1 |
| 2026-08-21 | $-0.57 | $47,019,000 | 1 / 1 |
| 2026-08-22 | $-0.57 | $47,019,000 | 1 / 1 |
| 2026-08-23 | $-0.57 | $43,219,000 | 1 / 1 |
| 2026-08-24 | $-0.57 | $43,219,000 | 1 / 1 |
| 2026-08-25 | $-0.57 | $43,219,000 | 1 / 1 |
| 2026-08-26 | $-0.57 | $43,219,000 | 1 / 1 |
| 2026-08-27 | $-0.57 | $43,219,000 | 1 / 1 |
| 2026-08-28 | $-0.57 | $43,219,000 | 1 / 1 |
| 2026-08-29 | $-0.57 | $43,219,000 | 1 / 1 |
| 2026-08-30 | $-0.57 | $43,219,000 | 1 / 1 |
| 2026-08-31 | $-0.57 | $43,219,000 | 1 / 1 |
| 2026-09-01 | $-0.57 | $43,219,000 | 1 / 1 |
| 2026-09-02 | $-0.57 | $43,219,000 | 1 / 1 |
| 2026-09-03 | $-0.57 | $43,219,000 | 1 / 1 |
| 2026-09-04 | $-0.57 | $43,219,000 | 1 / 1 |
| 2026-09-05 | $-0.57 | $43,219,000 | 1 / 1 |
| 2026-09-06 | $-0.57 | $43,219,000 | 1 / 1 |
| 2026-09-07 | $-0.57 | $43,219,000 | 1 / 1 |
| 2026-09-08 | $-0.57 | $43,219,000 | 1 / 1 |
| 2026-09-09 | $-0.57 | $43,219,000 | 1 / 1 |
| 2026-09-10 | $-0.57 | $43,219,000 | 1 / 1 |
| 2026-09-11 | $-0.57 | $43,219,000 | 1 / 1 |
| 2026-09-12 | $-0.57 | $43,219,000 | 1 / 1 |
| 2026-09-13 | $-0.57 | $43,219,000 | 1 / 1 |
| 2026-09-14 | $-0.57 | $43,219,000 | 1 / 1 |
| 2026-09-15 | $-0.57 | $43,219,000 | 1 / 1 |
| 2026-09-16 | $-0.57 | $43,219,000 | 1 / 1 |
| 2026-09-17 | $-0.57 | $43,219,000 | 1 / 1 |
| 2026-09-18 | $-0.57 | $43,219,000 | 1 / 1 |
| 2026-09-19 | $-0.57 | $43,219,000 | 1 / 1 |
| 2026-09-20 | $-0.57 | $43,219,000 | 1 / 1 |
| 2026-09-21 | $-0.57 | $43,219,000 | 1 / 1 |
| 2026-09-22 | $-0.57 | $43,219,000 | 1 / 1 |
| 2026-09-23 | $-0.57 | $43,219,000 | 1 / 1 |
| 2026-09-24 | $-0.57 | $43,219,000 | 1 / 1 |
| 2026-09-25 | $-0.57 | $43,219,000 | 1 / 1 |
| 2026-09-26 | $-0.57 | $43,219,000 | 1 / 1 |
| 2026-09-27 | $-0.57 | $43,219,000 | 1 / 1 |
| 2026-09-28 | $-0.57 | $43,219,000 | 1 / 1 |
| 2026-09-29 | $-0.57 | $43,219,000 | 1 / 1 |
| 2026-09-30 | $-0.57 | $43,219,000 | 1 / 1 |
| 2026-10-01 | $-0.57 | $43,219,000 | 1 / 1 |
| 2026-10-02 | $-0.57 | $43,219,000 | 1 / 1 |
| 2026-10-03 | $-0.57 | $43,219,000 | 1 / 1 |
| 2026-10-04 | $-0.57 | $43,219,000 | 1 / 1 |
| 2026-10-05 | $-0.57 | $43,219,000 | 1 / 1 |
| 2026-10-06 | $-0.57 | $43,219,000 | 1 / 1 |
| 2026-10-07 | $-0.57 | $43,219,000 | 1 / 1 |
| 2026-10-08 | $-0.62 | $73,166,667 | 1 / 1 |
| 2026-10-09 | $-0.62 | $99,500,000 | 1 / 1 |
| 2026-10-10 | $-0.62 | $99,500,000 | 1 / 1 |
| 2026-10-11 | $-0.62 | $99,500,000 | 1 / 1 |
| 2026-10-12 | $-0.62 | $99,500,000 | 1 / 1 |
| 2026-10-13 | $-0.62 | $99,500,000 | 1 / 1 |
| 2026-10-14 | $-0.62 | $99,500,000 | 1 / 1 |
| 2026-10-15 | $-0.62 | $99,500,000 | 1 / 1 |
| 2026-10-16 | $-0.62 | $99,500,000 | 1 / 1 |
| 2026-10-17 | $-0.62 | $99,500,000 | 1 / 1 |
| 2026-10-18 | $-0.98 | $130,126,667 | 1 / 1 |
| 2026-10-19 | $-0.98 | $130,126,667 | 1 / 1 |
| 2026-10-20 | $-0.98 | $130,126,667 | 1 / 1 |
| 2026-10-21 | $-0.98 | $130,126,667 | 1 / 1 |
| 2026-10-22 | $-0.98 | $130,126,667 | 1 / 1 |
| 2026-10-23 | $-0.98 | $130,126,667 | 1 / 1 |
| 2026-10-24 | $-0.98 | $130,126,667 | 1 / 1 |
| 2026-10-25 | $-0.98 | $130,126,667 | 1 / 1 |
| 2026-10-26 | $-0.98 | $130,126,667 | 1 / 1 |
| 2026-10-27 | $-0.98 | $130,126,667 | 1 / 1 |
| 2026-10-28 | $-0.98 | $130,126,667 | 1 / 1 |
| 2026-10-29 | $-0.98 | $130,126,667 | 1 / 1 |
| 2026-10-30 | $-0.98 | $130,126,667 | 1 / 1 |
| 2026-10-31 | $-0.98 | $130,126,667 | 1 / 1 |
| 2026-11-01 | $-0.98 | $130,126,667 | 1 / 1 |
| 2026-11-02 | $-0.98 | $130,126,667 | 1 / 1 |
| 2026-11-03 | $-0.98 | $130,126,667 | 1 / 1 |
| 2026-11-04 | $-0.98 | $130,126,667 | 1 / 1 |
Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.
Latest: 1 Buy / Strong Buy · 0 Hold · 0 Sell / Strong Sell
Recent actions · Oct 6–Nov 4 · 1 recorded
Individual price-target observations are unavailable.
0 raises · 0 cuts · 0 unchanged · 0 without a comparable prior
Oct 6, 2026–Nov 4, 2026. Each firm's latest positive target is paired only with its immediately prior positive target from the same provider, at most 180 days earlier. Unmatched observations have one dot; conflicting observations are not compared.
Look for updated results and guidance against the published targets, plus direct evidence for unresolved drivers.
3 of 3 published conditions remain under pressure or need verification. The next results need to address those conditions.
The dated weekly assessment and its assumptions are available in Read detailed Outlook.