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FRMO Corp. Q1 net loss widens on unrealized equity losses

By Reuters News


Overview

  • US asset management consultant's fiscal Q1 revenue fell yr/yr on lower consulting and advisory fees

  • Net loss attributable to shareholders widened sharply, mainly due to unrealized losses on equity securities

  • Company posted net loss excluding unrealized gains/losses, reversing a profit in the prior-year period


Outlook

  • Company did not provide specific guidance for future quarters or the full year


Result Drivers

  • LOWER ROYALTY FEES - Co said consulting and advisory fees decreased due to lower royalty participation from Horizon Kinetics Holding Corporation

  • UNREALIZED LOSSES - Net loss was primarily driven by unrealized losses on equity securities


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q1 Revenue

$802,000

Q1 Loss Per Share

$0.81

Q1 Operating Income Before Provision for Income Taxes

-$139.54 mln


Reuters Recommended Reads

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  • Nov 9 - Gladstone Investment Q2 investment income falls on lower success fees

  • Nov 9 - Crescent Capital BDC Q3 net investment income falls


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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