; 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, 2021
Sep. 30, 2020
Operating activities:    
Net loss $ (35,410) $ (43,763)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 795 883
Noncash operating lease expense 1,186  
Restructuring and impairment charges 0 356
Stock-based compensation expense 6,396 4,950
Amortization of deferred commissions 10,436 9,614
Foreign currency remeasurement loss 1,972 5,171
Change in fair value of redeemable convertible preferred stock warrant liability 5,871 799
Change in fair value of preferred stock tranche option liability 4,157 3,392
Accretion of premium amortization of discount on short-term investments 608 (7)
Other non-cash 157 649
Changes in operating assets and liabilities:    
Deferred commissions (14,366) (11,621)
Accounts receivable (2,170) 8,948
Contract and other non-current assets (13,500) (2,499)
Prepaid expenses and other current assets (3,696) 153
Operating lease liabilities (1,614)  
Accounts payable 272 (364)
Accrued expenses and other liabilities 3,244 (318)
Deferred revenue 4,306 (1,161)
Net cash used in operating activities (31,356) (24,818)
Investing activities:    
Purchases of property and equipment (459) (768)
Purchases of short-term investments (201,415) (2,992)
Sales of short-term investments 19,960 0
Net cash used in investing activities (181,914) (3,760)
Financing activities:    
Proceeds from initial public offering, net of underwriting discounts and commissions 295,694 0
Payment of offering costs (4,076) 0
Proceeds from exercises of employee stock options 3,189 458
Proceeds from issuance of redeemable convertible preferred stock 19,951 93,532
Redeemable convertible preferred stock issuance costs 0 (343)
Employee payroll taxes paid for net shares settlement of restricted stock units (3,528) 0
Repurchase of common stock from employees 0 (2,307)
Proceeds from issuance of debt, net of issuance costs 0 9,914
Principal repayments on debt (120) (186)
Net cash provided by financing activities 311,110 101,068
Effect of exchange rates on cash and cash equivalents and restricted cash (638) 88
Net increase in cash, cash equivalents and restricted cash 97,202 72,578
Cash, cash equivalents and restricted cash, beginning of year 100,042 28,785
Cash, cash equivalents and restricted cash, end of year 197,244 101,363
Cash paid for interest    
Cash paid for interest 2,536 2,714
Conversion of redeemable convertible preferred stock to common stock (Note 12) 263,178 0
Deferred offering costs accrued but not yet paid 2,298 0
Reconciliation of cash and cash equivalents and restricted cash:    
Cash and cash equivalents 197,221 101,307
Restricted cash included in prepaids and other current assets 23 56
Total cash and cash equivalents and restricted cash $ 197,244 $ 101,363