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Forum Markets, Incorporated

FRMM
27
Software - Application · Technology
Price
$5.48
-0.37 (-6.32%)
Market Cap
$72.4M
Exchange
NASDAQ
Winston Score
27
Winston is worried
Below-average fundamentals — multiple weak pillars.
Data as of Aug 23, 2026 · filings through Jun 30, 2026
How the score breaks down
Quality
Weak
Growth
Good
Cash Flow
Weak
Stability
Good
Valuation
Data not available

Winston Score History

The full picture

Forum Markets, Incorporated is a small technology company that builds software tools focused on online community and marketplace platforms. Its products are designed to help users connect, trade, or interact within digital forums and market-style environments. The company operates in the software application industry, serving individual users and small businesses looking for community-driven digital solutions.

The company generates revenue through software licensing or platform fees, reflected in its 100% gross margin, which is typical for pure software businesses with no physical product costs. It appears to operate primarily in the United States and remains very small, with a market cap of roughly $100 million. However, its deeply negative operating margin of over 2,600% signals that the company is spending far more than it earns, making its ability to reach profitability the central risk investors should watch closely.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

Revenue data limited

EPS Growth

+75.2% YoY

Strong earnings growth

R&D Spend

$0/ year

0.0% of revenue

Below sector average (15%)

Research and development spending

Insider Activity

58.6%ownership

Rising

Insiders increasing their stake — aligned with shareholders

Cash Runway

~2 years

$108M cash & investments

Quarterly Free Cash Flow

$108M cash & investments at current burn rate

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale
Gross Margin
-39.4%
Thin — -39.4% gross margin
Profit after running costs
Operating Margin
-728.4%
Losing money on operations — -728.4%
Return on the money invested
ROCE
-165.8%
Weak — -165.8% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth
Sales YoY
N/A
Data not available
Profit growth
EPS YoY
N/A
Data not available
How steady the profit is
EPS Consistency
1/1 quarters
Every recent quarter grew earnings vs last year

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Cash Flow

Profit that turns into cash
Cash Conversion
N/A
Data not available
Spare cash per sale
FCF Margin
-684.9%
Burning cash (-684.9%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns
Debt / Equity
0.20
Conservative — low debt load (0.20)
Covers its interest
Interest Cover
N/A
Data not available

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Valuation

Price vs profit
P/E Ratio (TTM)
N/M
Negative earnings — P/E not meaningful
Cheaper or dearer next year
P/E vs Forward
N/A
not available
Data not available

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Dividends

Not applicable for this business.
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