Forge Group Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Premiums & Annuity Revenue	29.63	22.06	15.01	9.4	7.91	8.13
Total Interest & Dividend Income	4.28	4.01	3.82	3.49	3.33	3.51
Gain (Loss) on Sale of Investments	0.74	0.45	-0.25	-1.97	1.24	0.8
Other Revenue	-0.04	-0.19	-0.03	0.11	0.05	0.07
Total Revenue	34.6	26.34	18.56	11.03	12.53	12.51
Revenue Growth (YoY)	50.34%	41.93%	68.27%	-12.01%	0.16%	-22.46%
Policy Benefits	15.63	11.48	7.6	11.82	5.17	2.68
Policy Acquisition & Underwriting Costs	12.77	11.11	8.82	8.17	5.26	3.43
Depreciation & Amortization	1.18	1.18	1.25	1.34	1.09	1.11
Selling, General & Administrative	0.3	0.28	0.25	0.3	0.35	0.4
Other Operating Expenses	-	-	-0	-	-0.02	0.29
Total Operating Expenses	29.89	24.06	17.93	21.62	11.84	7.91
Operating Income	4.72	2.28	0.63	-10.59	0.69	4.6
Interest Expense	-1.1	-1.13	-1.16	-1.29	-1.31	-1.31
EBT Excluding Unusual Items	3.62	1.15	-0.53	-11.89	-0.62	3.29
Other Unusual Items	-	-	-0.33	0.4	-	0.4
Pretax Income	3.62	1.15	-0.87	-11.48	-0.62	3.69
Income Tax Expense	0.16	0.09	-0.25	0.64	0.1	-0.15
Earnings From Continuing Ops.	3.46	1.05	-0.61	-12.12	-0.73	3.83
Minority Interest in Earnings	-0	-0	0.01	0.01	0.03	0.04
Net Income	3.45	1.05	-0.6	-12.11	-0.7	3.87
Net Income to Common	3.45	1.05	-0.6	-12.11	-0.7	3.87
Shares Outstanding (Basic)	2	2	2	2	2	-
Shares Outstanding (Diluted)	2	3	2	2	2	-
Shares Change (YoY)	0.66%	29.13%	0.01%	-	-	-
EPS (Basic)	1.68	0.51	-0.29	-5.91	-0.34	-
EPS (Diluted)	1.68	0.40	-0.29	-5.91	-0.34	-
Operating Margin	13.63%	8.64%	3.39%	-96.08%	5.49%	36.77%
Profit Margin	9.98%	4.00%	-3.25%	-109.80%	-5.60%	30.93%
EBITDA	5.76	3.37	1.79	-9.26	1.75	5.37
EBITDA Margin	16.63%	12.78%	9.64%	-83.96%	13.98%	42.88%
D&A For EBITDA	1.04	1.09	1.16	1.34	1.06	0.76
EBIT	4.72	2.28	0.63	-10.59	0.69	4.6
EBIT Margin	13.63%	8.64%	3.39%	-96.08%	5.49%	36.77%
Effective Tax Rate	4.44%	8.07%	-	-	-	-
Revenue as Reported	34.6	26.34	18.22	11.43	12.53	12.91

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Insurance template. Financial Sources.