FRGE · As filed with the SEC

Forge Global Holdings cash flow statement, by quarter

The statement as Forge Global Holdings presents it in its 10-Q and 10-K: its own lines, labels and order. Tables over time lines up standardized figures across every filing.

Unaudited Condensed Consolidated Statements of Cash Flows · USD thousands

USD thousands	Q3 2025^† 3 months ended Sep 30, 2025	Q2 2025^† 3 months ended Jun 30, 2025	Q1 2025 3 months ended Mar 31, 2025	Q4 2024^† 3 months ended Dec 31, 2024	Q3 2024^† 3 months ended Sep 30, 2024	Q2 2024^† 3 months ended Jun 30, 2024	Q1 2024 3 months ended Mar 31, 2024	Q4 2023^† 3 months ended Dec 31, 2023
Net loss	(18,210)^†	(12,439)^†	(16,198)	(15,965)^†	(18,844)^†	(14,040)^†	(18,994)	(26,231)^†
Adjustments to reconcile net loss to net cash used in operations:
Share-based compensation	5,017^†	3,436^†	6,519	5,541^†	7,622^†	7,859^†	9,467	8,891^†
Depreciation and amortization	895^†	746^†	941	1,313^†	1,748^†	1,781^†	1,816	1,707^†
Amortization of right-of-use assets	420^†	509^†	613	679^†	670^†	662^†	643	826^†
Impairment of right-of-use assets	—	—	0	—	0^†	0^†	186	—
Loss on impairment of long lived assets	0^†	—	—	866^†	(186)^†	0^†	0	63^†
Allowance for doubtful accounts	22^†	99^†	170	(12)^†	34^†	107^†	109	(259)^†
Change in fair value of warrant liabilities	(182)^†	294^†	(191)	(1,765)^†	(932)^†	(2,280)^†	(4,447)	3,750^†
Settlement of related party promissory notes	—	—	—	—	—	—	—	0^†
Other	4^†	(6)^†	4	0^†	0^†	0^†	—	—
Changes in operating assets and liabilities:
Accounts receivable	(1,070)^†	(2,365)^†	(1,317)	262^†	(466)^†	923^†	(1,596)	65^†
Prepaid expenses and other assets	1,482^†	(1,523)^†	506	839^†	2,049^†	(5,353)^†	1,125	428^†
Accounts payable	(699)^†	363^†	461	342^†	(120)^†	(1,004)^†	1,066	102^†
Accrued expenses and other liabilities	(1,514)^†	100^†	396	(1,336)^†	923^†	(4,636)^†	2,782	794^†
Accrued compensation and benefits	1,272^†	4,004^†	(3,833)	2,124^†	2,228^†	2,041^†	(3,967)	2,205^†
Operating lease liabilities	(829)^†	(990)^†	(904)	(788)^†	(739)^†	(491)^†	(555)	(833)^†
Other	—	—	—	—	0^†	0^†	(10)	—
Net cash used in operating activities	(11,354)^†	(7,772)^†	(12,833)	(7,900)^†	(5,827)^†	(14,431)^†	(12,375)	(6,572)^†
Cash flows from investing activities:
Receipts of term deposit maturities	—	—	—	0^†	0^†	—	—	2,115^†
Maturity of investments and term deposits	17,504^†	—	—	—	0^†	—	—	—
Purchases of investments and term deposits	(18,857)^†	(19,397)^†	(22,012)	—	0^†	0^†	—	—
Maturities of term deposits	—	—	534	—	—	—	—	—
Purchases of property and equipment	(47)^†	(100)^†	(51)	0^†	(125)^†	(267)^†	(400)	(414)^†
Purchases of term deposit	—	—	—	0^†	0^†	—	—	(6,568)^†
Purchases of intangible assets	—	—	—	—	—	—	—	0^†
Capitalized internal-use software development costs	—	—	—	(248)^†	—	—	—	0^†
Net cash (used in) provided by investing activities	(10,607)^†	(4,824)^†	(21,529)	(248)^†	(173)^†	6,292^†	(400)	(4,867)^†
Cash flows from financing activities:
Proceeds from exercise of options	87^†	47^†	26	55^†	12^†	235^†	226	357^†
Taxes withheld and paid related to net share settlement of equity awards	(212)^†	(170)^†	(679)	(576)^†	(406)^†	(1,135)^†	(2,302)	(96)^†
Proceeds from PIPE investment and A&R FPA investors	—	—	—	—	—	—	—	0^†
Proceeds from exercise of Public Warrants	—	—	—	—	—	—	—	0^†
Formation of Forge Europe	—	—	—	—	—	—	—	0^†
Proceeds from the Merger	—	—	—	—	—	—	—	0^†
Payments for redemption of Public Warrants	—	—	—	—	—	—	—	0^†
Payments for offering costs	—	—	—	—	—	—	—	0^†
Share buyback	0^†	—	—	—	0^†	—	—	—
Cash paid for fractional shares related to stock split	0^†	—	—	—	0^†	—	—	—
Net cash used in financing activities	(125)^†	(4,266)^†	(653)	(521)^†	(394)^†	(900)^†	(2,076)	261^†
Effect of changes in currency exchange rates on cash and cash equivalents	82^†	711^†	358	(632)^†	388^†	(78)^†	(253)	536^†
Net decrease in cash and cash equivalents	(22,004)^†	(16,151)^†	(34,657)	(9,301)^†	(6,006)^†	(9,117)^†	(15,104)	(10,642)^†
Cash, cash equivalents and restricted cash, beginning of the period	55,448	71,599	106,256	115,557	121,564	130,681	145,785	156,426
Cash, cash equivalents and restricted cash, end of the period	33,444	55,448	71,599	106,256	115,557	121,564	130,681	145,784
Supplemental disclosures of cash flow information:
Cash paid for taxes	0^†	—	—	394^†	196^†	—	—	—
Supplemental disclosure of non-cash investing and financing activities:
Lease liabilities arising from obtaining right-of-use assets	102^†	0^†	0	0^†	0^†	0^†	4,506	1,755^†
Vesting of early exercised stock options and restricted stock awards	17^†	16^†	18	37^†	36^†	35^†	36	37^†
Purchase of property and equipment accrued and not yet paid	—	0^†	0	—	—	(12)^†	25	—
Conversion of preferred stock	—	—	—	—	—	—	—	0^†
Assumption of merger warrants liability	—	—	—	—	—	—	—	0^†
Reclassification of deferred offering costs to equity	—	—	—	—	—	—	—	0^†
Warrants issued in connection with A&R FPA	—	—	—	—	—	—	—	0^†
Conversion of May 2020 and October 2020 preferred stock warrants of Legacy Forge to common stock warrants	—	—	—	—	—	—	—	0^†
Early exercise of stock options upon settlement of related party promissory notes	—	—	—	—	—	—	—	0^†
Warrant liability reclassified to additional paid-in capital upon exercise of Public Warrants	—	—	—	—	—	—	—	0^†
Warrant liability reclassified to additional paid-in capital upon exercise of Junior Preferred Stock Warrants	—	—	—	—	—	—	—	0^†
Non-cash assets acquired in the Merger	—	—	—	—	—	—	—	0^†
Capitalized internal-use software development costs accrued and not yet paid	—	—	—	(61)^†	—	—	—	0^†
Common stock issued in connection with Accuidity acquisition	0^†	—	—	—	15,374^†	—	—	—

† Derived: worked out from the filings, not stated in them. A fourth quarter is the 10-K year less the nine months in the third-quarter 10-Q; a quarter of cash flows is year to date less the prior year to date.

As filed on EDGAR · Not affiliated with the U.S. SEC · Not investment advice. Each column links to its filing.