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

Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating activities:      
Net loss $ (47,768) $ (41,794) $ (36,908)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation 1,061 1,155 1,168
Noncash operating lease expense 1,931    
Restructuring and impairment charges 0 530 0
Stock-based compensation expense 10,666 6,184 3,492
Amortization of deferred commissions 13,964 13,423 11,089
Foreign currency remeasurement loss (gain) 3,032 (3,079) 6
Change in fair value of redeemable convertible preferred stock warrant liability 5,871 1,218 170
Change in fair value of preferred stock tranche option liability 4,157 6,146 0
Accretion of short-term investments 1,330 0 (19)
Other 266 371 148
Changes in operating assets and liabilities:      
Deferred commissions (23,273) (18,005) (14,308)
Accounts receivable (20,669) (797) 1,077
Contract and other non-current assets (10,505) (4,819) (5,357)
Prepaid expenses and other current assets (6,025) 1,390 (450)
Operating lease liabilities (2,377)    
Accounts payable 701 (398) (550)
Accrued expenses and other liabilities 10,863 3,576 599
Deferred revenue 19,992 5,305 (7,116)
Net cash used in operating activities (36,783) (29,594) (46,959)
Investing activities:      
Purchases of property and equipment (1,113) (854) (1,560)
Purchases of short-term investments (277,126) (2,992) 0
Maturities of marketable securities 31,860 3,000 4,415
Sales of short-term investments 1,933 0 4,050
Net cash provided by (used in) investing activities (244,446) (846) 6,905
Financing activities:      
Proceeds from initial public offering, net of underwriting discounts and commissions 295,694 0 0
Payment of initial public offering costs (6,038) 0 0
Proceeds from exercises of employee stock options 4,902 566 641
Proceeds from issuance of redeemable convertible preferred stock 19,951 93,532 0
Redeemable convertible preferred stock issuance costs 0 (343) 0
Employee payroll taxes paid for net share settlement of restricted stock units (3,877) 0 0
Repurchase of common stock from employees 0 (2,307) 0
Proceeds from issuance of debt, net of issuance costs 0 9,914 29,674
Principal repayments on debt (120) (211) (5,404)
Net cash provided by financing activities 310,512 101,151 24,911
Effect of exchange rates on cash, cash equivalents and restricted cash (888) 546 (1)
Net increase (decrease) in cash, cash equivalents and restricted cash 28,395 71,257 (15,144)
Cash, cash equivalents and restricted cash, beginning of year 100,042 28,785 43,929
Cash, cash equivalents and restricted cash, end of year 128,437 100,042 28,785
Supplementary cash flow disclosure:      
Cash paid for interest 3,629 3,914 2,173
Cash paid for income taxes 769 270 370
Offering costs accrued but not yet paid (145) 0 0
Conversion of redeemable convertible preferred stock to common stock (Note 12) 263,178 0 0
Non-cash investing and financing activities:      
Fair value adjustment on warrants and preferred stock tranche option 10,068 7,364 170
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability 14,596    
Purchases of property and equipment, accrued but not yet paid 125 26 0
Reconciliation of cash and cash equivalents and restricted cash:      
Cash and cash equivalents 128,381 99,953 28,698
Restricted cash included in prepaid expenses and other assets 56 89 87
Total cash and cash equivalents and restricted cash $ 128,437 $ 100,042 $ 28,785