Forge Global Holdings, Inc. (FRGE)

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Forge Global Holdings, Inc.

FRGE • CIK 0001827821

(in thousands, except per share data)	FY 2022	FY 2023	FY 2024	TTM
Gross Profit	$68,900	$69,390	$78,655	$91,933
Operating Income (Loss)	$-135,040	$-91,449	$-82,263	$-68,552
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	$-111,578	$-90,730	$-66,777	$-62,609
Income Tax Expense (Benefit)	$327	$819	$1,066	$203
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$-111,905	$-91,549	$-67,843	$-62,812
Net Income (Loss) Attributable to Noncontrolling Interest	$-46	$-1,328	$-1,510	$-194
Net Income (Loss) Attributable to Parent	$-111,859	$-90,221	$-66,333	$-62,618
Revenue from Contract with Customer, Excluding Assessed Tax	$69,383	$69,821	$79,329	$92,884
Cost of Goods and Services Sold	$483	$431	$674	$951
Employee Benefits and Share-based Compensation	$145,514	$106,593	$112,991	$108,694
Communications and Information Technology	$11,489	$14,507	$12,481	$18,506
General and Administrative Expense	$11,324	$12,510	$10,831	$9,831
Professional Fees	$14,265	$11,905	$8,405	$7,616
Depreciation, Depletion and Amortization, Nonproduction	$6,026	$6,954	$6,658	$4,210
Marketing and Advertising Expense	$4,754	$3,486	$4,334	$4,990
Operating Expenses	$203,940	$160,839	$160,918	$160,485
Interest Income (Expense), Nonoperating, Net	—	—	$5,675	$3,618
Fair Value Adjustment of Warrants	$-19,836	$6,465	$-9,424	$-1,844
Other Nonoperating Income (Expense)	$945	$763	$387	$270
Nonoperating Income (Expense)	$23,462	$719	$15,486	$5,943
Weighted Average Number of Shares Outstanding, Basic	143,839,981	173,402,167	183,160,263	13,684,065
Weighted Average Number of Shares Outstanding, Diluted	145,013,346	173,402,167	183,160,263	13,684,065
Net Income (Loss) Available to Common Stockholders, Diluted	$-115,783	$-90,221	$-66,333	$-62,618

(in thousands, except per share data)	FY 2022	FY 2023	FY 2024	TTM
Cash and Cash Equivalents, at Carrying Value	$193,136	$144,722	$105,140	$32,294
Restricted Cash, Current	$1,829	$1,062	$1,116	$1,150
Property, Plant and Equipment, Net	$359	$5,192	$2,920	$1,074
Accounts Receivable, after Allowance for Credit Loss, Current	$3,544	$4,067	$4,706	$8,080
Intangible Assets, Net (Including Goodwill)	$133,887	$129,919	$126,456	$158,246
Prepaid Expense and Other Assets, Current	$8,374	$13,253	$8,205	$8,387
Operating Lease, Right-of-Use Asset	$5,706	$4,308	$5,107	$3,667
Assets, Current	$206,888	$163,104	$119,167	$78,290
Other Assets, Noncurrent	$1,878	$2,615	$2,444	$1,309
Assets	$363,729	$310,731	$263,506	$252,028
Operating Lease, Liability, Noncurrent	$3,541	$2,707	$3,694	$3,023
Warrants and Rights Outstanding	$606	$9,616	$192	$113
Other Liabilities, Noncurrent	$365	$185	$322	$161
Liabilities	$38,268	$42,313	$36,764	$45,628
Accounts Payable, Current	$2,797	$1,831	$1,941	$2,261
Accrued Employee Benefits, Current	$13,271	$11,004	$13,430	$14,873
Accounts Payable and Other Accrued Liabilities, Current	$6,416	$8,861	$6,310	$8,432
Operating Lease, Liability, Current	$3,896	$2,516	$3,463	$1,511
Liabilities, Current	$26,385	$24,212	$25,144	$30,709
Preferred Stock, Value, Issued	—	—	$0	$0
Common Stock, Value, Issued	$18	$18	$19	$1
Treasury Stock, Common, Value	—	$625	$625	$625
Additional Paid in Capital	$509,094	$543,846	$570,588	$595,960
Accumulated Other Comprehensive Income (Loss), Net of Tax	$693	$911	$572	$1,255
Retained Earnings (Accumulated Deficit)	$-190,418	$-280,638	$-346,972	$-393,947
Stockholders' Equity Attributable to Parent	$319,387	$263,512	$223,582	$202,644
Stockholders' Equity Attributable to Noncontrolling Interest	$6,074	$4,906	$3,160	$3,756
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$325,461	$268,418	$226,742	$206,400
Preferred Stock, Shares Authorized	100,000,000	100,000,000	100,000,000	100,000,000
Preferred Stock, Shares Issued	0	0	0	0
Common Stock, Shares, Issued	172,560,916	176,899,814	186,399,412	13,701,000
Treasury Stock, Common, Shares	—	157,193	157,193	10,000
Common Stock, Shares Authorized	2,000,000,000	2,000,000,000	2,000,000,000	133,333,000
Accounts Receivable, before Allowance for Credit Loss, Current	—	—	$6,005	$7,323
Accounts Receivable, Allowance for Credit Loss, Current	—	—	$1,299	$1,500
Accounts Receivable, Allowance for Credit Loss, Period Increase (Decrease)	—	—	$200	$200
Accounts Receivable, Allowance for Credit Loss, Writeoff	—	—	$100	$0
Certificates of Deposit, at Carrying Value	—	$7,694	$1,068	$1,075
Prepaid Expense, Current	$3,250	$1,084	$956	$325
Other Prepaid Expense, Current	$1,546	$801	$689	$1,144
Other Assets, Current	$2,172	$2,190	$579	$735
Property, Plant and Equipment, Gross	$879	$10,476	$11,385	$11,249
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	$520	$5,284	$8,465	$9,083
Capitalized Computer Software, Amortization	$1,800	$2,800	$2,600	$600
Capitalized Computer Software, Impairments	—	$600	$0	$0
Depreciation	$200	$200	$600	$200
Impairment of Long-Lived Assets Held-for-use	$446	$599	$1,052	$0
Accrued Professional Fees, Current	$1,299	$3,166	$704	$661
Contract with Customer, Liability, Current	—	—	$575	$265
Other Liabilities, Current	$3,522	$3,993	$1,350	$1,772
Contract with Customer, Liability, Revenue Recognized	$400	$400	$400	$200

(in thousands, except per share data)	FY 2022	FY 2023	FY 2024	TTM
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$-111,905	$-91,549	$-67,843	$-62,812
Net Cash Provided by (Used in) Operating Activities	$-68,806	$-41,456	$-40,533	$-39,859
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	$118,561	$-49,181	$-39,528	$-82,113
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$194,965	$145,784	$106,256	$47,174
Share-based Payment Arrangement, Noncash Expense	$57,924	$34,334	$30,489	$20,513
Proceeds from Other Deposits	—	$2,115	$6,559	$6,559
Depreciation, Depletion and Amortization	$6,026	$6,954	$6,658	$3,895
Payments to Acquire Property, Plant, and Equipment	$220	$527	$792	$198
Operating Lease, Right-of-Use Asset, Amortization Expense	$3,999	$3,153	$2,654	$2,221
Payments to Acquire Restricted Certificates of Deposit	—	$9,748	$0	$0
Impairment of Long-Lived Assets Held-for-use	$446	$599	$1,052	$1,052
Payments for Software	$6,312	$0	$296	$248
Accounts Receivable, Credit Loss Expense (Reversal)	$433	$270	$238	$279
Net Cash Provided by (Used in) Investing Activities	$-6,650	$-8,160	$5,471	$-37,208
Fair Value Adjustment of Warrants	$-19,836	$6,465	$-9,424	$-1,844
Other Noncash Income (Expense)	$0	$625	$10	$-2
Proceeds from Stock Options Exercised	$1,086	$710	$528	$215
Payment, Tax Withholding, Share-based Payment Arrangement	—	$653	$4,419	$1,637
Net Cash Provided by (Used in) Financing Activities	$192,862	$57	$-3,891	$-5,565
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$1,155	$378	$-575	$519
Cash and Cash Equivalents, at Carrying Value	$193,136	$144,722	$105,140	$46,006
Restricted Cash, Current	$1,829	$1,062	$1,116	$1,168
Income Taxes Paid	—	—	$913	$1,063
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	$3,087	$1,755	$4,506	$102
Capital Expenditures Incurred but Not yet Paid	—	$250	$20	$7
Increase (Decrease) in Accounts Receivable	$-1,403	$792	$877	$4,490
Increase (Decrease) in Prepaid Expense and Other Assets	$3,321	$-2,018	$1,340	$-1,304
Increase (Decrease) in Accounts Payable	$904	$-1,216	$284	$467
Increase (Decrease) in Other Accounts Payable and Accrued Liabilities	$-788	$2,805	$-2,267	$-2,354
Increase (Decrease) in Employee Related Liabilities	$-7,911	$-2,267	$2,426	$3,567
IncreaseDecreaseInOperatingLeaseLiability	$-4,829	$-4,150	$-2,573	$-3,511

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Import this data to Google Sheets with:

=jivedata("FRGE","financials")

Full statements spill as a table. For one cell: =jivedata("FRGE","Revenue") or =jivedata("FRGE","Revenue","TTM"). Install the Jive Data add-on, then paste into a cell.