ForgeRock (FORG) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates

ForgeRock (FORG) reported $63.14 million in revenue for the quarter ended March 2023, representing a year-over-year increase of 31.3%. EPS of -$0.09 for the same period compares to -$0.12 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $60.55 million, representing a surprise of +4.28%. The company delivered an EPS surprise of -28.57%, with the consensus EPS estimate being -$0.07.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how ForgeRock performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Annualized Recurring Revenue (ARR): $238 million versus the three-analyst average estimate of $240.67 million.

• Revenue- Subscription term licenses: $25.56 million compared to the $21.69 million average estimate based on four analysts. The reported number represents a change of +30% year over year.

• Revenue- Professional services: $3.42 million compared to the $2.43 million average estimate based on four analysts. The reported number represents a change of +58.1% year over year.

• Revenue- Subscription SaaS, support & maintenance: $34.10 million compared to the $36.41 million average estimate based on four analysts. The reported number represents a change of +30.2% year over year.

• Revenue- Perpetual licenses: $0.07 million versus $0.08 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -24.4% change.

View all Key Company Metrics for ForgeRock here>>>

Shares of ForgeRock have returned -3% over the past month versus the Zacks S&P 500 composite's +1.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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