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

Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Operating activities:    
Net loss $ (49,778) $ (35,410)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 812 795
Noncash operating lease expense 1,865 1,186
Stock-based compensation expense 22,155 6,396
Amortization of deferred commissions 10,652 10,436
Foreign currency remeasurement (loss) gain (3,636) 1,972
Change in fair value of redeemable convertible preferred stock warrant liability 0 5,871
Change in fair value of preferred stock tranche option liability 0 4,157
Amortization of premium / discount on short-term investments 1,690 608
Other 28 157
Changes in operating assets and liabilities:    
Deferred commissions (13,182) (14,366)
Accounts receivable 22,094 (2,170)
Contract and other non-current assets (3,416) (13,500)
Prepaid expenses and other current assets (3,291) (3,696)
Operating lease liabilities (1,301) (1,614)
Accounts payable (506) 272
Accrued expenses and other liabilities 509 3,244
Deferred revenue (15,699) 4,306
Net cash used in operating activities (31,004) (31,356)
Investing activities:    
Purchases of property and equipment (1,474) (459)
Purchases of short-term investments (139,149) (201,415)
Maturities of short-term investments 133,615 0
Sales of short-term investments 39,110 19,960
Net cash provided by (used in) investing activities 32,102 (181,914)
Financing activities:    
Proceeds from initial public offering, net of underwriting discounts and commissions 0 295,694
Payment of offering costs (145) (4,076)
Proceeds from exercises of employee stock options 4,150 3,189
Proceeds from issuance of common stock under employee stock purchase plan 4,374 0
Employee payroll taxes paid for net shares settlement of restricted stock units (188) (3,528)
Proceeds from issuance of redeemable convertible preferred stock 0 19,951
Principal repayments on debt 0 (120)
Net cash provided by financing activities 8,191 311,110
Effect of exchange rates on cash and cash equivalents and restricted cash 857 (638)
Net increase in cash, cash equivalents and restricted cash 10,146 97,202
Cash, cash equivalents and restricted cash, beginning of year 128,437 100,042
Cash, cash equivalents and restricted cash, end of period 138,583 197,244
Supplementary cash flow disclosure:    
Cash paid for interest 2,426 2,536
Reconciliation of cash and cash equivalents and restricted cash:    
Cash and cash equivalents 138,542 197,221
Restricted cash included in prepaids and other current assets 41 23
Total cash and cash equivalents and restricted cash 138,583 197,244
Short-term investments, end of period $ 203,971 $ 180,872