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ForgeRock: Q1 Earnings Snapshot

May 11, 2022 GMT

SAN FRANCISCO (AP) _ ForgeRock Inc. (FORG) on Wednesday reported a loss of $16.5 million in its first quarter.

On a per-share basis, the San Francisco-based company said it had a loss of 20 cents. Losses, adjusted for stock option expense, came to 12 cents per share.

The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 17 cents per share.

The digital identity and access management services provider posted revenue of $48.1 million in the period, which also topped Street forecasts. Seven analysts surveyed by Zacks expected $46.6 million.

For the current quarter ending in July, ForgeRock expects its results to range from a loss of 23 cents per share to a loss of 21 cents per share.

The company said it expects revenue in the range of $46.5 million to $47.5 million for the fiscal second quarter.

ForgeRock expects full-year results to range from a loss of 45 cents per share to a loss of 41 cents per share, with revenue ranging from $212 million to $215 million.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FORG at https://www.zacks.com/ap/FORG