We believe that ARR is a key metric because it is driven by our ability to acquire new customers and to maintain and expand our relationship with existing customers. -Actively develop and follow up potential customers, responsible for the sales and promotion of the company's products. We define non-GAAP net loss per share, diluted, as non-GAAP net loss divided by GAAP weighted average shares used to compute net loss per share, basic, adjusted for (i) the dilutive effect of employee equity awards, excluding the impact of unrecognized stock-based compensation expense and (ii) warrants; unless these adjustments are anti-dilutive. ForgeRock (NYSE: FORG), a global leader in digital identity, today announced financial results for its first quarter ended March 31, 2022. As such, ForgeRock and many investors and analysts exclude stock-based compensation expense to better evaluate its operating performance and cash spending levels relative to its industry sector and competitors. All non-GAAP numbers referenced in today's call are reconciled in our press release and in slides available on our investor relations website. STOCKHOLDERS ARE URGED TO READ THE TRANSACTION PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS THAT FORGEROCK WILL FILE WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. liz.micci@fgsglobal.com / nicky.bryan@fgsglobal.com. https://www.businesswire.com/news/home/20221109005954/en/, Proceeds from the initial public offering, net of underwriting discounts and commissions, ARR grew 30% year-over-year to $212.8 million, Revenue grew 32% year-over-year to $58.2 million, SaaS as a percentage of ARR from new customers was 74% in Q3. We define non-GAAP net loss as GAAP net loss adjusted to exclude stock-based compensation expense and acquisition-related costs, including the tax effect of stock-based compensation expense on the provision for (benefit from) income taxes as presented below (in thousands, except per share amounts): We define non-GAAP net loss per share, basic, as non-GAAP net loss divided by GAAP weighted-average shares used to compute net loss per share, basic. Reconciliation of cash and cash equivalents and restricted cash: Restricted cash included in prepaids and other current assets, Total cash and cash equivalents and restricted cash, NON-GAAP FINANCIAL MEASURES AND RECONCILIATIONS TO GAAP RESULTS, Non-GAAP Gross Profit and Non-GAAP Gross Margin. We believe that ARR is a key metric because it is driven by our ability to acquire new customers and to maintain and expand our relationship with existing customers. Upon completion of the transaction, ForgeRocks common stock will no longer be publicly listed and ForgeRock will become a privately held company. Non-GAAP Financial Measures and Key Metrics: Besides financial results prepared in accordance with generally accepted accounting principles (GAAP), ForgeRock believes that evaluating its ongoing operating results may be difficult if limited to reviewing only GAAP financial measures. Our ecosystem of pre-built, tested, and continually updated partner network integrations help you achieve more with identity. 05:41 AM EDT, 09/30/2022 (MT Newswires) -- ForgeRock (FORG) has an average rating of outperform and price targets ranging from $17 to $26, according to analysts polled by Capital IQ. This press release and ForgeRock, Inc.s other filings and press releases may contain forward-looking statements that involve risks and uncertainties, including statements regarding: the Transaction, including the expected timing of the closing of the Transaction; considerations taken into account by ForgeRocks Board of Directors in approving the Transaction; and expectations for ForgeRock following the closing of the Transaction. Earnings Presentations. Experience in building Identity and Access Management Architecture (logical, physical, etc.) Collectively, we contribute to our success. Investors. Using ForgeRock, more than 1,300 organizations around the world orchestrate, manage, and secure the complete lifecycle of identities from dynamic access controls, governance, APIs, and storing authoritative data consumable in cloud or hybrid environments. Stock Quote & Chart; . Investor Relations GlobeNewswire ForgeRock, Inc. (FORG) Shareholder Alert: Robbins LLP Reminds Investors it is Investigating the Acquisition of ForgeRock, Inc. by Thoma Bravo . Copyright 2023 ForgeRock, all rights reserved. We seek to exhibit these values every day. ForgeRock does not provide forward-looking guidance for certain financial data, such as depreciation, stock-based compensation, income (loss) from operations and net income (loss), and as a result, is not able to provide a reconciliation of GAAP to non-GAAP financial measures for forward-looking data without unreasonable effort. Comms tech provider announces African deployments as Airtel plans to roll out iSIM secure connect technology in several countries while it also joins partnership to enable smart city dwellers in Egypt to use the internet to order, activate and pay for utilities. 11/14/2022. Contact Email info@forgerock.com Phone Number 415-599-1100 ForgeRock is a multinational software company that develops commercial open-source identity and access management products. ARR should be viewed independently of revenue, deferred revenue and remaining performance obligations computed and/or disclosed in accordance with GAAP and is not intended to be combined with or to replace any of those items. ARR does not have a standardized meaning and therefore may not be comparable to similarly titled measures presented by other companies. ForgeRock will announce its financial results for its third quarter on November 9, 2022. Investor Relations [email protected] Platform. SAN FRANCISCO, (BUSINESS WIRE) -- ForgeRock (NYSE: FORG), a global digital identity leader, announced today that it has entered into a definitive agreement. If any of these risks or uncertainties materialize, or if any of ForgeRocks assumptions prove incorrect, ForgeRocks actual results could differ materially from the results expressed or implied by these forward-looking statements. Additional Information and Where to Find It. SAN FRANCISCO-- ( BUSINESS WIRE )--ForgeRock, Inc. (NYSE: FORG), a global identity leader, today announced it has moved up its earnings release for the fourth quarter and fiscal year ended. Adoption of our SaaS offering among our customers is strengthening, representing 65% of ARR from new customers in Q1. We are accountable and expect the same in return. For more information, please see our 10-Q as of March 31, 2022 when it is available. by Simon M on March 14, 2023. using multi-vendor tools that are deployed globally for large customers Experience in assessing the existing environment, understanding the gaps, developing IAM strategies and roadmap for complex environments Implementation and Design experience for complex IAM solutions for large scale customers . To the extent that we are negotiating a renewal with a customer after the expiration of the subscription, we continue to include that revenue in ARR if we are actively in discussion with such an organization for a new subscription or renewal, or until such organization notifies us that it is not renewing its subscription. August 2022 Investor Presentation. Sign up today and receive company updates straight to your inbox. Non-GAAP net loss per share of $0.23 to $0.21, assuming weighted-average shares outstanding of approximately 84.3 million. We're a leading provider of industry-specific, cloud-based software and services for the global professional and financial services industry. Using ForgeRock, more than 1,300 organizations around the world orchestrate, manage, and secure the complete lifecycle of identities from dynamic access controls, governance, APIs, and storing authoritative data consumable in cloud or hybrid environments. Investor Relations Erik Schneider Gianna Rotellini. We are confident that Thoma Bravos resources and insights will help us continue to drive innovation in our platform and deliver even more value for customers., Identity-centric cybersecurity solutions are a critical enabler for businesses to digitally transform their operations, and ForgeRocks solutions combine both the advanced security and customer usability needed in the market, said Chip Virnig, a Partner at Thoma Bravo. Investor Relations Contact: Their latest funding was raised on Apr 21, 2020 from a Series E round. Thoma Bravo released a statement back in October 2022, indicating they had entered into a definitive agreement with IAM platform provider ForgeRock. We define non-GAAP net loss per share, diluted, as non-GAAP net loss divided by GAAP weighted average shares used to compute net loss per share, basic, adjusted for (i) the dilutive effect of employee equity awards, excluding the impact of unrecognized stock-based compensation expense and (ii) warrants; unless these adjustments are anti-dilutive. "We ended 2022 with $230 million of ARR, representing another solid year of growth for ForgeRock," said Fran Rosch, CEO of ForgeRock. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release. The offer represents a premium of approximately 53% over ForgeRocks closing share price on October 10, 2022, the last full trading day prior to the transaction announcement, and a premium of approximately 44% over the volume weighted average price of ForgeRock stock for the 30 days ending October 10, 2022. The Investor Relations website contains information about AGNC Investment Corp.'s business for stockholders, potential investors, and financial analysts. We recognize the value each of us brings, and encourage each other to be our true selves. ARR was $229.6 million for Q4 2022, growing 25% year-over-year. Evgenia Sinopidou, Edelman We also exclude stock-based compensation expense as it can vary significantly from period to period based on share price and the timing, size and nature of equity awards. The Wasatch Speaker Series is a lecture series based in Salt Lake City featuring speakers such as Dr. Jane Goodall . (212) 731-4778 Supporting Materials. 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