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

Annual report pursuant to Section 13 and 15(d)

Fair Value Measurements (Tables)

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2021

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, 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	—		51,428		—		51,428
Corporate debt securities	—		84,804		—		84,804
U.S. treasury bonds	—		26,140		—		26,140
Total short-term investments	—		240,820		—		240,820
Total cash equivalents and short-term investments	$	98,333	$	240,820	$	—	$	339,153


	December 31, 2020
	Level 1		Level 2		Level 3		Total
Assets:
Money market funds	$	79,876	$	—	$	—	$	79,876
Liabilities:
Preferred stock warrants	—		—		2,401		2,401
Preferred stock tranche option	—		—		7,567		7,567
Total liabilities	$	—	$	—	$	9,968	$	9,968

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	$	—