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

Quarterly report pursuant to Section 13 or 15(d)

Cash Equivalents and Short-term Investments (Tables)

v3.22.2.2
Cash Equivalents and Short-term Investments (Tables)
 9 Months Ended
Sep. 30, 2022
Investments, Debt and Equity Securities [Abstract]  
Summary of Short-term Investments
The amortized cost, unrealized loss and estimated fair value of the Company’s cash equivalents and short-term investments as of September 30, 2022 and December 31, 2021 were as follows (in thousands):
September 30, 2022
Amortized Cost Unrealized Gain Unrealized Loss Estimated Fair Value
Cash Equivalents:
Money market funds $ 107,201  $ —  $ —  $ 107,201 
Total cash equivalents 107,201  —  —  107,201 
Short-term investments
Commercial paper 27,049  —  —  27,049 
Asset-backed securities 17,840  —  (473) 17,367 
Corporate debt securities 92,796  —  (1,253) 91,543 
U.S. Treasury bonds 69,053  —  (1,041) 68,012 
Short-term investments 206,738  —  (2,767) 203,971 
Total $ 313,939  $ —  $ (2,767) $ 311,172 
December 31, 2021
Amortized Cost Unrealized Gain Unrealized Loss Estimated Fair Value
Cash Equivalents:
Money market funds $ 98,333  $ —  $ —  $ 98,333 
Total cash equivalents 98,333  —  —  98,333 
Short-term investments
Commercial paper 78,448  —  —  78,448 
Asset-backed securities 51,745  —  (158) 51,587 
Corporate debt securities 85,365  —  (281) 85,084 
U.S. treasury bonds 26,444  —  (152) 26,292 
Short-term investments 242,002  —  (591) 241,411 
Total $ 340,335  $ —  $ (591) $ 339,744 
Summary of Cash Equivalents
The amortized cost, unrealized loss and estimated fair value of the Company’s cash equivalents and short-term investments as of September 30, 2022 and December 31, 2021 were as follows (in thousands):
September 30, 2022
Amortized Cost Unrealized Gain Unrealized Loss Estimated Fair Value
Cash Equivalents:
Money market funds $ 107,201  $ —  $ —  $ 107,201 
Total cash equivalents 107,201  —  —  107,201 
Short-term investments
Commercial paper 27,049  —  —  27,049 
Asset-backed securities 17,840  —  (473) 17,367 
Corporate debt securities 92,796  —  (1,253) 91,543 
U.S. Treasury bonds 69,053  —  (1,041) 68,012 
Short-term investments 206,738  —  (2,767) 203,971 
Total $ 313,939  $ —  $ (2,767) $ 311,172 
December 31, 2021
Amortized Cost Unrealized Gain Unrealized Loss Estimated Fair Value
Cash Equivalents:
Money market funds $ 98,333  $ —  $ —  $ 98,333 
Total cash equivalents 98,333  —  —  98,333 
Short-term investments
Commercial paper 78,448  —  —  78,448 
Asset-backed securities 51,745  —  (158) 51,587 
Corporate debt securities 85,365  —  (281) 85,084 
U.S. treasury bonds 26,444  —  (152) 26,292 
Short-term investments 242,002  —  (591) 241,411 
Total $ 340,335  $ —  $ (591) $ 339,744 
Summary of Contractual Maturities
The following table presents the contractual maturities of the Company’s short-term investments as of September 30, 2022 and December 31, 2021 (in thousands):
September 30, 2022
Amortized Cost Estimated Fair Value
Due within one year
 $ 196,294  $ 193,546 
Due between one to five years
 10,444  10,425 
Total $ 206,738  $ 203,971 

December 31, 2021
Amortized Cost Estimated Fair Value
Due within one year $ 142,950  $ 142,868 
Due between one to five years 99,052  98,543 
Total $ 242,002  $ 241,411 
Summary of Unrealized Loss Position The following table presents the breakdown of the short-term investments that have been in a continuous unrealized loss position aggregated by investment category, as of September 30, 2022.
September 30, 2022
Less than 12 months More than 12 months Total
Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses
Cash Equivalents:
Money market funds $ 107,201  $ —  $ —  $ —  $ 107,201  —  $ — 
Total cash equivalents 107,201  —  —  —  107,201  — 
Short-term investments
Commercial paper 27,049  —  —  —  27,049  — 
Asset-backed securities 10,123  (181) 7,244  (292) 17,367  (473)
Corporate debt securities 76,632  (881) 14,911  (372) 91,543  (1,253)
U.S. Treasury bonds 68,012  (1,041) —  —  68,012  (1,041)
Short-term investments 181,816  (2,103) 22,155  (664) 203,971  (2,767)
Total $ 289,017  $ (2,103) $ 22,155  $ (664) $ 311,172  $ (2,767)