ForgeRock, Inc. - FORG STOCK NEWS

ForgeRock, Inc. (NYSE: FORG), a leader in digital identity, has moved its earnings release for the fourth quarter and fiscal year ending December 31, 2021 to March 1, 2022. The company will host a conference call at 2:00 p.m. PT to discuss financial results. Additionally, the IPO lock-up termination date will change, with agreements terminating on March 4, 2022. This change affects holders of ForgeRock’s common stock involved in the company's recent IPO.

ForgeRock (NYSE: FORG) expands its Identity Cloud services by launching two new data centers in Indonesia and Hong Kong. This move enhances ForgeRock's cloud footprint to 17 regions, making it the largest cloud IAM provider globally. The expansion caters to the rising demand for secure, compliant digital identity solutions in Asia, enabling enterprises to meet data sovereignty requirements. This initiative will support various sectors, including telehealth and mobile banking, ensuring local services are efficiently delivered.

ForgeRock, Inc. (NYSE: FORG) will report its fourth-quarter and fiscal year financial results for the period ending December 31, 2021, after U.S. market close on March 2, 2022. A conference call is scheduled for the same day at 2:00 p.m. PT (5:00 p.m. ET) to discuss these results. Beginning March 7, 2022, the lock-up agreements for substantially all of ForgeRock's common stock will terminate. The company specializes in digital identity management solutions, serving over 1,300 global organizations.

ForgeRock (NYSE: FORG) has announced the launch of two new features for its Identity Cloud platform: Organizations and Themed User Journeys. These enhancements enable businesses to manage various identity types under a single system, allowing for tailored security configurations and streamlined user experiences. Peter Barker, Chief Product Officer, emphasized the importance of these updates in meeting evolving security requirements and reducing IT burdens. Both features are now available, promoting cost-efficiency and personalized customer interactions.

ForgeRock, Inc. (NYSE: FORG) announced a partial early lock-up release allowing up to 15% of its Class A common stock, approximately 11.7 million shares, to be eligible for sale on November 22, 2021. This release affects shares held by executive officers and directors under lock-up agreements. The restrictions will remain for all other securities until after the company's Q4 and Full Year 2021 earnings release, expected in Q1 2022. The press release included standard forward-looking statements cautioning about potential risks and market conditions.

ForgeRock (NYSE: FORG) has announced its role in providing the Digital Passenger Declaration (DPD) cards for Australia, aimed at facilitating the safe reopening of its borders post-pandemic. This new solution will replace the physical passenger card and existing COVID-19 travel declarations, enabling travellers to share validated information rapidly via mobile or computer. Accenture was awarded the project to implement these digital cards using the ForgeRock Identity Platform, enhancing travel safety and efficiency.

ForgeRock reported strong financial results for Q3 2021, with Annualized Recurring Revenue (ARR) reaching $164.0 million, a 30% year-over-year increase. Total revenue grew 38% to $44.2 million. However, the company posted a GAAP net loss of $15.3 million, compared to $7.8 million in Q3 2020. Operating losses also widened slightly. ForgeRock expects Q4 2021 ARR between $175.0 million and $176.0 million with projected revenues of $46.5 million to $47.5 million.

ForgeRock (NYSE: FORG) announced new features for its ForgeRock Identity Cloud aimed at facilitating cloud migration for businesses. These features include Pass-Through Authentication, allowing users to authenticate with existing credentials stored on-premises, and Just-in-Time Migration, which permits gradual migration without forcing password resets. This approach addresses customer concerns about managing multiple passwords and aims to enhance user experience while maintaining security. The features are available now for existing customers.