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Unaudited Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 70,472 $ 105,140
Restricted cash 1,127 1,116
Investments 21,508 0
Accounts receivable, net 5,853 4,706
Prepaid expenses and other current assets 8,438 8,205
Total current assets 107,398 119,167
Internal-use software, property and equipment, net 2,166 2,920
Goodwill and other intangible assets, net 126,256 126,456
Payment-dependent notes receivable 7,433 7,412
Operating lease right-of-use assets 4,494 5,107
Other assets, noncurrent 1,713 2,444
Total assets 249,460 263,506
Current liabilities:    
Accounts payable 2,382 1,941
Accrued compensation and benefits 9,597 13,430
Accrued expenses and other current liabilities 6,686 6,310
Operating lease liabilities, current 2,759 3,463
Total current liabilities 21,424 25,144
Payment-dependent notes payable 7,433 7,412
Operating lease liabilities, noncurrent 3,494 3,694
Warrant liabilities 1 192
Other liabilities, noncurrent 323 322
Total liabilities 32,675 36,764
Commitments and contingencies (Note 7)
Stockholders' equity:    
Preferred stock, $0.0001 par value; 100,000 shares authorized; no shares issued and outstanding [1] 0 0
Common stock, $0.0001 par value; 133,333 shares authorized; 12,638 and 12,427 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively [1] 1 1
Treasury stock, at cost; 10 shares as of both March 31, 2025 and December 31, 2024, respectively [1] (625) (625)
Additional paid-in capital [1] 576,489 570,606
Accumulated other comprehensive income [1] 794 572
Accumulated deficit [1] (363,144) (346,972)
Total Forge Global Holdings, Inc. stockholders’ equity [1] 213,515 223,582
Noncontrolling interest [1] 3,270 3,160
Total stockholders’ equity [1] 216,785 226,742
Total liabilities and stockholders’ equity $ 249,460 $ 263,506
[1] Common stock has been adjusted to reflect the reverse stock split that became effective on April 14, 2025. Refer to Note 2, "Summary of Significant Accounting Policies" and Note 13, "Subsequent Events" for further information about the reverse stock split.