; ForgeRock, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Fair Value Measurements (Tables)

v3.22.4
Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2022
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on a Recurring Basis
The following table represents the fair value hierarchy for the Company’s financial assets and liabilities held by value on a recurring basis (in thousands):
December 31, 2022
Level 1 Level 2 Level 3 Total
Assets:
Money market funds $ 91,376  $ —  $ —  $ 91,376 
Total cash equivalents 91,376  —  —  91,376 
Commercial paper —  47,840  —  47,840 
Asset-backed securities —  17,198  —  17,198 
Corporate debt securities —  98,798  —  98,798 
U.S. treasury bonds —  43,412  —  43,412 
Total short-term investments —  207,248  —  207,248 
 Total cash equivalents and short-term investments $ 91,376  $ 207,248  $ —  $ 298,624 
December 31, 2021
Level 1 Level 2 Level 3 Total
Assets:
Money market funds $ 98,333  $ —  $ —  $ 98,333 
Total cash equivalents 98,333  —  —  98,333 
Commercial paper —  78,448  —  78,448 
Asset-backed securities —  51,587  —  51,587 
Corporate debt securities —  85,084  —  85,084 
U.S. treasury bonds —  26,292  —  26,292 
Total short-term investments —  241,411  —  241,411 
Total cash equivalents and short-term investments $ 98,333  $ 241,411  $ —  $ 339,744 
Schedule of Change in Fair Value of Liabilities
The change in the fair value of the warrants was as follows (in thousands):
Balance at January 1, 2020 $ 1,057 
Issuance of warrants for series D preferred stock 127 
Increase in fair value of preferred stock warrants 1,217 
Balance at January 1, 2021 2,401 
Increase in fair value of preferred stock warrants 5,871 
Balance at issuance of common stock upon exercise of warrants (8,272)
Balance at December 31, 2021 $ — 
The change in fair value of the preferred stock tranche option was as follows (in thousands):
Balance at January 1, 2020 $ — 
Issuance of Series E preferred stock tranche option 1,500 
Increase in fair value of preferred stock tranche option 6,067 
Balance at January 1, 2021 7,567 
Increase in fair value of preferred stock tranche option 4,157 
Balance at reclassification to redeemable convertible preferred stock (11,724)
Balance at December 31, 2021 $ —