Forge Global Holdings, Inc. Cashflow Statement

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Financial Statements

Income Statement Balance Sheet Cashflow Statement

Consolidated Statement of Cash Flows

In millions of USD, except per-share amounts

	FY2024 12 months to Dec 31, 2024	FY2023 12 months to Dec 31, 2023	FY2022 12 months to Dec 31, 2022	FY2021 12 months to Dec 31, 2021
Cash flows from operating activities:
Net loss
Adjustments to reconcile net loss to net cash used in operations:
Share-based compensation
Depreciation and amortization
Transaction expenses related to the Merger
Amortization of right-of-use assets
Loss on impairment of long lived assets
Allowance for credit losses
Change in fair value of warrant liabilities
Gain on marketable securities, dividends and interest held in Trust Account
Change in fair value of contingent liability
Other
Changes in operating assets and liabilities:
Prepaid expenses
Accounts receivable
Prepaid expenses and other assets
Accounts payable
Accrued expenses
Accrued expenses and other liabilities
Accrued compensation and benefits
Operating lease liabilities

Net cash used in operating activities
Cash flows from investing activities:
Cash paid for acquisitions, net of cash acquired
Receipts of term deposit maturities
Purchases of property and equipment
Purchases of term deposit
Purchases of intangible assets
Capitalized internal-use software development costs
Loan to SharesPost
Payment of deferred payments related to IRA Services acquisition
Net cash provided by (used in) investing activities
Cash flows from financing activities:
Proceeds from exercise of options
Taxes withheld and paid related to net share settlement of equity awards
Proceeds from PIPE investment and A&R FPA investors
Proceeds from exercise of Public Warrants
Proceeds from notes payable
Formation of Forge Europe
Payments for redemption of Public Warrants
Payments for offering costs
Proceeds from issuance of convertible preferred stock, net of issuance costs
Series B-1 Convertible Preferred Stock
Series B-2 Convertible Preferred Stock
Cash paid to purchase equity awards
Repayment of notes payable
Net cash (used in) provided by financing activities
Effect of changes in currency exchange rates on cash and cash equivalents
Net decrease in cash and cash equivalents
Cash, cash equivalents and restricted cash, beginning of the period
Cash, cash equivalents and restricted cash, end of the period
Supplemental disclosures of cash flow information:
Cash paid for interest
Cash paid for taxes
Supplemental disclosure of non-cash investing and financing activities:
Vesting of early exercised stock options and restricted stock awards
Purchase of property and equipment accrued and not yet paid
Conversion of preferred stock
Assumption of merger warrants liability
Reclassification of deferred offering costs to equity
Issuance of common stock upon settlement of related party promissory notes
Warrants issued in connection with A&R FPA
Conversion of May 2020 and October 2020 preferred stock warrants of Legacy Forge to common stock warrants
Early exercise of stock options upon settlement of related party promissory notes
Warrant liability reclassified to additional paid-in capital upon exercise of Public Warrants
Warrant liability reclassified to additional paid-in capital upon exercise of Junior Preferred Stock Warrants
Non-cash assets acquired in the Merger
Capitalized internal-use software development costs accrued and not yet paid
Deferred payments related to SharesPost acquisition
Forgiveness of loan to SharesPost in relation to acquisition
Issuance of stock in relation to acquisition
Exchange of Class AA common stock for Series B-1 convertible preferred stock
Deferred offering cost accrued and not yet paid
Conversion of convertible notes into Series B-1 convertible preferred stock
Warrant issued in connection with issuance of convertible notes payable
Warrant issued in connection with issuance of term loan
Reconciliation of cash, cash equivalents and restricted cash to the amounts reported within the consolidated balance sheets
Cash and cash equivalents
Restricted cash

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