Forum Markets Reports $1.4 Million Revenue in Q2 2026, Net Loss of $12.8 Million

Forum Markets, Inc. (formerly ETHZilla Corporation) reported its financial results for the second quarter of 2026, revealing a total revenue of $1.4 million, a significant increase from zero revenue in the same period last year. The revenue primarily stemmed from aircraft engine rental activities, which generated $1.4 million, reflecting the company's strategic pivot towards digital asset management and tokenization of real-world assets (RWAs). For the first half of 2026, total revenue reached $4.2 million, driven by both aircraft engine rentals and staking revenue, which amounted to $1.8 million.

The company's financial performance showed a marked increase in operating expenses, which rose to $10.3 million for the second quarter, compared to $1.4 million in the prior year. This increase was largely attributed to higher professional fees related to strategic initiatives, stock-based compensation, and public company costs. As a result, Forum Markets reported a net loss of $12.8 million for the quarter, compared to a loss of $1.7 million in the same quarter of 2025. For the first half of 2026, the net loss was $89.1 million, significantly higher than the $4.1 million loss reported in the first half of 2025.

In terms of operational developments, Forum Markets has made substantial investments in RWAs, including the acquisition of aircraft engines and the establishment of a warehouse credit facility for auto loans. The company also reported a significant change in its digital asset holdings, with a fair value of $21.6 million as of June 30, 2026, down from $61.6 million at the end of 2025. This decline was primarily due to realized losses from the sale of digital assets, which amounted to $124.6 million, partially offset by unrealized gains of $111.8 million.

The company has also undergone strategic changes, including a rebranding and a focus on tokenization initiatives. In April 2026, Forum Markets established a special committee to explore strategic alternatives aimed at enhancing shareholder value, including potential mergers or acquisitions. The company has also initiated a share repurchase program, repurchasing approximately 7.1 million shares for $31.3 million during the first half of 2026. Looking ahead, Forum Markets anticipates continued revenue growth from its aircraft engine leasing and staking activities, while navigating the evolving regulatory landscape surrounding digital assets.