; ForgeRock, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

v3.21.2
Fair Value Measurements (Tables)
9 Months Ended
Sep. 30, 2021
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):
September 30, 2021
Level 1 Level 2 Level 3 Total
Assets:
Money market funds $ 169,315  $ —  $ —  $ 169,315 
Total cash equivalents 169,315  —  —  169,315 
Commercial paper —  58,050  —  58,050 
Asset-backed securities —  30,287  —  30,287 
Corporate debt securities —  66,099  —  66,099 
U.S. Government debt securities —  26,436  —  26,436 
Total short-term investments —  180,872  —  180,872 
     Total cash equivalents and short-term investments $ 169,315  $ 180,872  $ —  $ 350,187 
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):
Nine Months Ended September 30, 2021
Beginning balance $ 2,401 
Increase in fair value of preferred stock warrants 5,871 
Balance at issuance of common stock upon exercise of warrants (8,272)
Ending balance $ — 
The change in fair value of the preferred stock tranche option was as follows (in thousands):
Nine Months Ended September 30, 2021
Beginning balance $ 7,567 
Increase in fair value of preferred stock tranche option 4,157 
Balance at reclassification to redeemable convertible preferred stock (11,724)
Ending balance $ —