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Unaudited Condensed Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net loss $ (21,261) $ (64,424)
Adjustments to reconcile net loss to net cash (used in) provided by operations:    
Share-based compensation 7,401 8,522
Depreciation and amortization 1,789 1,083
Transaction expenses related to the Merger 0 3,132
Amortization of right-of-use assets 845 1,056
Loss on impairment of long lived assets 536 265
Allowance for doubtful accounts 122 302
Change in fair value of warrant liabilities (168) 25,959
Settlement of related party promissory notes 0 5,517
Changes in operating assets and liabilities:    
Accounts receivable 135 2,017
Prepaid expenses and other assets 2,446 (918)
Accounts payable (1,377) 861
Accrued expenses and other liabilities (403) (741)
Accrued compensation and benefits (6,731) (11,606)
Operating lease liabilities (1,049) (1,202)
Net cash used in operating activities (17,715) (30,177)
Cash flows from investing activities:    
Purchases of property and equipment (71) (11)
Capitalized internal-use software development costs 0 (1,681)
Net cash used in investing activities (71) (1,692)
Cash flows from financing activities:    
Proceeds from the Merger 0 7,865
Proceeds from PIPE investment and A&R FPA investors 0 208,000
Payments for offering costs 0 (56,379)
Proceeds from exercise of options, including proceeds from repayment of promissory notes 61 105
Taxes withheld and paid related to net share settlement of equity awards (557) 0
Net cash (used in) provided by financing activities (496) 159,591
Effect of changes in currency exchange rates on cash and cash equivalents 228 0
Net (decrease) increase in cash and cash equivalents (18,054) 127,722
Cash, cash equivalents and restricted cash, beginning of the period 194,965 76,404
Cash, cash equivalents and restricted cash, end of the period 176,911 204,126
Reconciliation of cash, cash equivalents and restricted cash to the amounts reported within the consolidated balance sheets    
Cash and cash equivalents 175,268 202,502
Restricted cash 1,643 1,624
Total cash, cash equivalents and restricted cash, end of the period 176,911 204,126
Supplemental disclosure of non-cash investing and financing activities:    
Property and equipment purchases not yet paid 0 95
Capitalized internal-use software development costs accrued and not yet paid 0 360
Reclassification of deferred offering costs to equity 0 5,923
Conversion of preferred stock 0 246,049
Conversion of May 2020 and October 2020 preferred stock warrants of Legacy Forge to common stock warrants 0 2,949
Non-cash assets acquired in the Merger 0 193
Warrants issued in connection with A&R FPA 0 3,080
Assumption of merger warrants liability 0 13,983
Vesting of early exercised stock options and restricted stock awards 131 409
Issuance of common stock upon settlement of related party promissory notes 0 4,207
Early exercise of stock options upon settlement of related party promissory notes 0 1,310
Deferred offering cost accrued and not yet paid $ 0 $ 473