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JFrog (FROG) Financials

JFrog logo
$87.18 0.00 (0.00%)
Closing price 09/11/2026 04:00 PM Eastern
Extended Trading
$86.74 -0.44 (-0.51%)
As of 09/11/2026 07:56 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for JFrog

Annual Income Statements for JFrog

This table shows JFrog's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -26 -5.39 -9.41 -64 -90 -61 -69 -72
Consolidated Net Income / (Loss)		 -26 -5.39 -9.41 -64 -90 -61 -69 -72
Net Income / (Loss) Continuing Operations		 -26 -5.39 -9.41 -64 -90 -61 -69 -72
Total Pre-Tax Income 		-26 -3.77 -12 -68 -85 -55 -66 -66
Total Operating Income		 -27 -6.94 -14 -68 -90 -76 -91 -92
Total Gross Profit		 53 85 122 165 218 273 330 408
Total Revenue		 64 105 151 207 280 350 428 532
Operating Revenue		 64 105 151 207 280 350 428 532
Total Cost of Revenue		 11 20 28 42 62 77 98 123
Operating Cost of Revenue		 11 20 28 42 62 77 98 123
Total Operating Expenses		 80 92 137 233 308 348 421 500
Selling, General & Admin Expense		 19 18 35 57 56 63 70 81
Marketing Expense		 35 44 61 97 131 151 190 224
Research & Development Expense		 26 30 41 80 121 135 161 195
Total Other Income / (Expense), net		 1.31 3.17 2.05 0.74 5.09 21 25 26
Other Income / (Expense), net		 1.31 3.17 2.05 0.74 5.09 21 25 26
Income Tax Expense		 0.47 1.63 -2.74 -3.42 5.44 6.74 3.42 5.78
Basic Earnings per Share		 ($1.00) ($0.20) ($0.20) ($0.68) ($0.91) ($0.59) ($0.63) ($0.62)
Weighted Average Basic Shares Outstanding		 26.10M 27.13M 46.49M 94.78M 99.24M 103.32M 109.69M 116.20M
Diluted Earnings per Share		 ($1.00) ($0.20) ($0.20) ($0.68) ($0.91) ($0.59) ($0.63) ($0.62)
Weighted Average Diluted Shares Outstanding		 26.10M 27.13M 46.49M 94.78M 99.24M 103.32M 109.69M 116.20M
Weighted Average Basic & Diluted Shares Outstanding		 26.10M 27.13M 46.49M 94.78M 100.95M 106.31M 112.88M 119.63M
Cash Dividends to Common per Share		 - - $0.00 $0.00 - - $0.00 $0.00

Quarterly Income Statements for JFrog

This table shows JFrog's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 -11 -8.79 -14 -23 -23 -19 -22 -16 -15 -8.27 -4.17
Consolidated Net Income / (Loss)		 -11 -8.79 -14 -23 -23 -19 -22 -16 -15 -8.27 -4.17
Net Income / (Loss) Continuing Operations		 -11 -8.79 -14 -23 -23 -19 -22 -16 -15 -8.27 -4.17
Total Pre-Tax Income 		-8.97 -9.55 -12 -24 -20 -17 -20 -15 -14 -5.78 -5.58
Total Operating Income		 -15 -17 -19 -30 -25 -23 -26 -22 -21 -13 -13
Total Gross Profit		 77 80 81 82 88 92 97 106 113 120 128
Total Revenue		 97 100 103 109 116 122 127 137 145 154 164
Operating Revenue		 97 100 103 109 116 122 127 137 145 154 164
Total Cost of Revenue		 20 21 22 27 29 30 30 31 32 34 36
Operating Cost of Revenue		 20 21 22 27 29 30 30 31 32 34 36
Total Operating Expenses		 92 96 100 112 113 115 123 128 134 133 141
Selling, General & Admin Expense		 18 17 17 18 18 19 20 20 22 24 26
Marketing Expense		 41 44 46 51 50 53 55 56 60 58 61
Research & Development Expense		 33 36 37 43 45 43 47 51 53 52 54
Total Other Income / (Expense), net		 6.41 7.09 6.90 5.71 5.59 5.97 6.31 6.68 6.87 7.15 7.67
Other Income / (Expense), net		 6.41 7.09 6.90 5.71 5.59 5.97 6.31 6.68 6.87 7.15 7.67
Income Tax Expense		 2.27 -0.76 2.07 -1.27 3.37 1.50 2.01 1.52 0.76 2.49 -1.42
Basic Earnings per Share		 ($0.10) ($0.08) ($0.13) ($0.21) ($0.21) ($0.16) ($0.19) ($0.14) ($0.13) ($0.07) ($0.03)
Weighted Average Basic Shares Outstanding		 103.32M 107.03M 108.94M 110.77M 109.69M 113.45M 115.25M 117.26M 116.20M 120.16M 121.82M
Diluted Earnings per Share		 ($0.10) ($0.08) ($0.13) ($0.21) ($0.21) ($0.16) ($0.19) ($0.14) ($0.13) ($0.07) ($0.03)
Weighted Average Diluted Shares Outstanding		 103.32M 107.03M 108.94M 110.77M 109.69M 113.45M 115.25M 117.26M 116.20M 120.16M 121.82M
Weighted Average Basic & Diluted Shares Outstanding		 106.31M 108.42M 110.42M 111.56M 112.88M 114.57M 116.74M 118.31M 119.63M 121.12M 123.30M

Annual Cash Flow Statements for JFrog

This table details how cash moves in and out of JFrog's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 120 -139 124 -96 -23 39 -34 26
Net Cash From Operating Activities		 8.56 10 29 28 21 74 111 146
Net Cash From Continuing Operating Activities		 8.56 10 29 28 21 74 111 146
Net Income / (Loss) Continuing Operations		 -26 -5.39 -9.41 -64 -90 -61 -69 -72
Consolidated Net Income / (Loss)		 -26 -5.39 -9.41 -64 -90 -61 -69 -72
Depreciation Expense		 1.12 2.81 3.66 8.75 15 15 21 25
Amortization Expense		 0.00 -0.37 1.91 5.52 2.35 -6.41 -6.57 -5.24
Non-Cash Adjustments To Reconcile Net Income		 20 9.37 24 63 78 103 140 165
Changes in Operating Assets and Liabilities, net		 13 3.59 9.45 15 17 23 25 33
Net Cash From Investing Activities		 -3.08 -150 -312 -126 -53 -53 -165 -152
Net Cash From Continuing Investing Activities		 -3.08 -150 -312 -126 -53 -53 -165 -152
Purchase of Property, Plant & Equipment		 -2.08 -1.80 -3.52 -4.23 -4.33 -1.98 -3.14 -3.46
Acquisitions		 -1.00 -21 0.00 -196 -0.48 0.00 -157 0.00
Purchase of Investments		 0.00 -203 -451 -266 -411 -392 -514 -626
Sale and/or Maturity of Investments		 0.00 77 142 341 363 341 508 477
Net Cash From Financing Activities		 114 0.74 406 1.44 11 18 21 31
Net Cash From Continuing Financing Activities		 114 0.74 406 1.44 11 18 21 31
Issuance of Common Equity		 0.00 -0.19 393 3.09 5.18 6.67 8.74 12
Other Financing Activities, net		 0.52 0.93 13 -1.65 5.85 12 12 19
Effect of Exchange Rate Changes		 - - 0.00 0.00 -2.05 0.12 -0.95 1.25

Quarterly Cash Flow Statements for JFrog

This table details how cash moves in and out of JFrog's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Change in Cash & Equivalents		 24 -13 147 -155 -12 -5.52 6.93 27 -2.56 -15 36
Net Cash From Operating Activities		 33 17 17 28 49 29 36 30 51 38 57
Net Cash From Continuing Operating Activities		 33 17 17 28 49 29 36 30 51 38 57
Net Income / (Loss) Continuing Operations		 -11 -8.79 -14 -23 -23 -19 -22 -16 -15 -8.27 -4.17
Consolidated Net Income / (Loss)		 -11 -8.79 -14 -23 -23 -19 -22 -16 -15 -8.27 -4.17
Depreciation Expense		 3.79 3.80 3.83 6.98 6.86 6.71 6.56 5.66 5.57 5.56 5.54
Amortization Expense		 -1.82 -2.01 -1.74 -1.39 -1.43 -1.56 -1.47 -1.17 -1.04 -0.92 -0.71
Non-Cash Adjustments To Reconcile Net Income		 31 30 31 39 41 39 40 43 43 42 42
Changes in Operating Assets and Liabilities, net		 11 -5.18 -1.96 6.49 26 3.26 13 -0.58 18 0.37 14
Net Cash From Investing Activities		 -16 -47 135 -188 -66 -46 -40 -11 -56 -53 -50
Net Cash From Continuing Investing Activities		 -16 -47 135 -188 -66 -46 -40 -11 -56 -53 -50
Purchase of Property, Plant & Equipment		 -0.62 -0.84 -0.73 -0.94 -0.63 -0.65 -0.63 -1.35 -0.84 -1.07 -3.31
Purchase of Investments		 -89 -165 -91 -124 -134 -149 -135 -159 -183 -166 -172
Sale and/or Maturity of Investments		 74 119 227 93 69 104 96 149 128 114 125
Net Cash From Financing Activities		 6.61 17 -4.67 4.90 4.41 12 9.59 8.09 2.02 -0.15 29
Net Cash From Continuing Financing Activities		 6.61 17 -4.67 4.90 4.41 12 9.59 8.09 2.02 -0.15 29
Other Financing Activities, net		 6.61 12 -4.67 0.65 4.41 5.21 9.59 2.47 2.02 -8.31 31
Effect of Exchange Rate Changes		 0.23 -0.52 -0.29 0.12 -0.25 -0.03 0.80 0.26 0.23 -0.00 -0.31

Annual Balance Sheets for JFrog

This table presents JFrog's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 238 689 853 871 973 1,130 1,341
Total Current Assets		 199 653 499 532 646 649 873
Cash & Equivalents		 39 164 68 46 85 50 76
Short-Term Investments		 127 434 353 398 460 472 629
Accounts Receivable		 25 37 50 62 76 91 120
Prepaid Expenses		 5.36 14 22 19 13 20 26
Other Current Assets		 2.35 3.25 5.27 8.10 11 16 22
Plant, Property, & Equipment, net		 3.53 4.96 6.69 8.02 6.66 5.67 5.54
Total Noncurrent Assets		 36 32 347 331 320 475 463
Goodwill		 17 17 248 248 248 372 372
Intangible Assets		 5.61 4.05 48 38 26 61 40
Other Noncurrent Operating Assets		 13 10 51 46 46 43 51
Total Liabilities & Shareholders' Equity		 238 689 853 871 973 1,130 1,341
Total Liabilities		 96 135 214 246 293 356 454
Total Current Liabilities		 86 123 175 210 262 318 408
Accounts Payable		 13 31 39 15 17 11 14
Accrued Expenses		 - - - 29 36 52 78
Current Deferred Revenue		 73 92 129 159 201 247 310
Other Current Liabilities		 - 0.00 7.29 7.13 8.27 7.79 5.78
Total Noncurrent Liabilities		 9.63 13 39 37 31 39 46
Noncurrent Deferred Revenue		 9.63 11 18 17 13 27 32
Other Noncurrent Operating Liabilities		 0.00 1.55 21 20 18 12 14
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 -33 554 639 625 679 774 887
Total Preferred & Common Equity		 -33 554 639 625 679 774 887
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 -33 554 639 625 679 774 887
Common Stock		 32 628 777 857 969 1,133 1,313
Retained Earnings		 -65 -75 -139 -229 -290 -360 -431
Treasury Stock		 - - - - - - 0.00
Accumulated Other Comprehensive Income / (Loss)		 0.04 0.37 0.61 -2.77 1.01 0.66 5.77

Quarterly Balance Sheets for JFrog

This table presents JFrog's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026 6/30/2026
Total Assets		 879 895 920 997 1,021 1,081 1,156 1,208 1,266 1,373 1,489
Total Current Assets		 540 558 587 676 703 593 682 737 800 905 1,018
Cash & Equivalents		 40 47 61 71 218 62 44 51 78 61 97
Short-Term Investments		 407 423 441 508 373 406 519 560 573 680 728
Accounts Receivable		 63 62 61 67 82 93 84 83 104 114 136
Prepaid Expenses		 21 17 14 18 17 18 17 24 25 27 31
Other Current Assets		 8.57 9.06 10 12 13 15 17 18 20 23 26
Plant, Property, & Equipment, net		 7.48 7.03 6.58 6.47 6.53 6.05 5.54 5.72 5.69 6.50 8.10
Total Noncurrent Assets		 331 330 326 315 311 481 469 465 460 462 464
Goodwill		 248 248 248 248 248 371 372 372 372 372 372
Intangible Assets		 35 32 29 23 20 67 55 49 45 35 31
Other Noncurrent Operating Assets		 49 50 49 44 43 43 42 44 44 55 61
Total Liabilities & Shareholders' Equity		 879 895 920 997 1,021 1,081 1,156 1,208 1,266 1,373 1,489
Total Liabilities		 250 259 267 289 300 325 356 382 406 449 529
Total Current Liabilities		 214 224 234 260 270 292 319 347 368 400 477
Accounts Payable		 14 13 15 14 16 16 10 11 17 17 8.14
Accrued Expenses		 29 32 32 40 40 44 51 68 62 67 113
Current Deferred Revenue		 163 171 179 198 206 224 250 260 281 311 352
Other Current Liabilities		 7.45 8.27 8.16 8.14 8.11 8.15 7.38 7.48 7.06 5.22 4.40
Total Noncurrent Liabilities		 36 35 32 29 30 32 37 35 39 49 52
Noncurrent Deferred Revenue		 16 13 12 13 16 20 25 22 28 30 34
Other Noncurrent Operating Liabilities		 21 22 20 16 14 12 12 13 11 19 18
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 629 636 653 708 721 756 800 826 859 924 961
Total Preferred & Common Equity		 629 636 653 708 721 756 800 826 859 924 961
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 629 636 653 708 721 756 800 826 859 924 961
Common Stock		 881 905 936 1,007 1,037 1,092 1,179 1,221 1,270 1,362 1,405
Retained Earnings		 -250 -265 -279 -299 -314 -336 -378 -400 -416 -440 -444
Treasury Stock		 - - - - - - - - - - -2.03
Accumulated Other Comprehensive Income / (Loss)		 -2.37 -3.48 -3.44 -0.14 -1.73 0.45 -1.22 5.74 5.55 2.25 1.33

Annual Metrics And Ratios for JFrog

This table displays calculated financial ratios and metrics derived from JFrog's official financial filings.

Metric 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Growth Metrics		 - - - - - - - -
Revenue Growth		 0.00% 64.82% 44.03% 37.03% 35.49% 24.94% 22.47% 24.12%
EBITDA Growth		 0.00% 94.55% -394.89% -710.65% -26.95% 32.65% -11.64% 8.15%
EBIT Growth		 0.00% 85.26% -222.54% -456.72% -25.32% 35.67% -20.74% -0.33%
NOPAT Growth		 0.00% 74.17% -104.58% -381.74% -31.40% 15.91% -20.58% -0.83%
Net Income Growth		 0.00% 79.27% -74.36% -582.65% -40.47% 32.08% -13.03% -3.73%
EPS Growth		 0.00% 80.00% 0.00% -240.00% -33.82% 35.16% -6.78% 1.59%
Operating Cash Flow Growth		 0.00% 16.84% 194.46% -5.28% -23.21% 246.11% 49.58% 31.38%
Free Cash Flow Firm Growth		 0.00% 0.00% -47.14% -3,147.02% 91.27% 79.92% -3,240.49% 102.31%
Invested Capital Growth		 0.00% 0.00% -83.47% 592.40% -16.50% -26.14% 87.54% -27.23%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 8.70% 6.59% 6.29% 4.59% 5.82%
EBITDA Q/Q Growth		 0.00% 0.00% 0.00% -29.98% -1.14% 20.44% -17.03% 8.74%
EBIT Q/Q Growth		 0.00% 0.00% 0.00% -28.71% 0.79% 19.19% -19.76% 7.53%
NOPAT Q/Q Growth		 0.00% 0.00% 0.00% -27.10% -2.56% 11.14% -12.38% 4.27%
Net Income Q/Q Growth		 0.00% 0.00% 0.00% -41.97% -0.51% 16.29% -20.89% 10.01%
EPS Q/Q Growth		 0.00% 0.00% 0.00% -61.90% 1.09% 18.06% -21.15% 11.43%
Operating Cash Flow Q/Q Growth		 0.00% 0.00% 38.65% 21.01% -32.57% 51.72% 17.51% 1.09%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 0.00% -160.33% 72.21% 6.73% -67.52%
Invested Capital Q/Q Growth		 0.00% 0.00% 0.00% -10.09% -4.89% -11.14% -12.79% -12.16%
Profitability Metrics		 - - - - - - - -
Gross Margin		 83.14% 80.87% 81.14% 79.76% 77.76% 77.98% 77.06% 76.79%
EBITDA Margin		 -38.45% -1.27% -4.36% -25.82% -24.19% -13.04% -11.89% -8.79%
Operating Margin		 -42.27% -6.62% -9.41% -33.08% -32.08% -21.59% -21.26% -17.27%
EBIT Margin		 -40.21% -3.60% -8.05% -32.72% -30.26% -15.58% -15.36% -12.42%
Profit (Net Income) Margin		 -40.95% -5.15% -6.24% -31.06% -32.20% -17.51% -16.16% -13.50%
Tax Burden Percent		 101.84% 143.23% 77.43% 94.94% 106.42% 112.36% 105.19% 108.76%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% -55.23% -31.52% -33.50% -33.07% -29.59%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% -52.03% -25.20% -31.81% -32.05% -28.37%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 44.47% 17.24% 24.11% 23.54% 20.94%
Return on Equity (ROE)		 0.00% -3.79% -2.70% -10.77% -14.28% -9.40% -9.53% -8.65%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% -142.32% -13.54% -3.44% -93.96% 1.93%
Operating Return on Assets (OROA)		 0.00% -1.58% -2.62% -8.77% -9.83% -5.91% -6.26% -5.34%
Return on Assets (ROA)		 0.00% -2.27% -2.03% -8.33% -10.46% -6.64% -6.59% -5.81%
Return on Common Equity (ROCE)		 0.00% 0.89% -2.02% -10.77% -14.28% -9.40% -9.53% -8.65%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 16.13% -1.70% -10.05% -14.43% -9.02% -8.95% 0.00%
Net Operating Profit after Tax (NOPAT)		 -19 -4.86 -9.93 -48 -63 -53 -64 -64
NOPAT Margin		 -29.59% -4.64% -6.59% -23.16% -22.46% -15.11% -14.88% -12.09%
Net Nonoperating Expense Percent (NNEP)		 0.00% -0.65% 0.14% -3.21% -6.32% -1.69% -1.02% -1.23%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - -10.07% -7.79% -8.24% -7.25%
Cost of Revenue to Revenue		 16.86% 19.13% 18.86% 20.24% 22.24% 22.02% 22.94% 23.21%
SG&A Expenses to Revenue		 29.66% 17.00% 22.89% 27.42% 19.84% 18.04% 16.34% 15.27%
R&D to Revenue		 40.71% 28.39% 27.26% 38.52% 43.29% 38.47% 37.54% 36.68%
Operating Expenses to Revenue		 125.41% 87.49% 90.55% 112.84% 109.84% 99.57% 98.32% 94.06%
Earnings before Interest and Taxes (EBIT)		 -26 -3.77 -12 -68 -85 -55 -66 -66
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -24 -1.33 -6.58 -53 -68 -46 -51 -47
Valuation Ratios		 - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.00 10.34 4.48 3.42 5.35 4.24 8.33
Price to Tangible Book Value (P/TBV)		 0.00 0.00 10.76 8.35 6.31 8.95 9.62 15.52
Price to Revenue (P/Rev)		 8.01 4.86 37.99 13.85 7.64 10.38 7.66 13.89
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 11.23 9.34 23.00 10.97 36.53
Enterprise Value to Revenue (EV/Rev)		 0.00 4.95 34.02 11.81 6.06 8.82 6.44 12.57
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 51.82 174.20 87.51 79.16 41.60 24.87 45.88
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 26.98 505.25 0.00 0.00 0.00 0.00 1,595.98
Leverage & Solvency		 - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 0.00 -1.17 -1.10 -0.85 -0.68 -0.76 -0.73 -0.74
Leverage Ratio		 0.00 1.67 1.33 1.29 1.36 1.41 1.45 1.49
Compound Leverage Factor		 0.00 1.67 1.33 1.29 1.36 1.41 1.45 1.49
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 123.48% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 0.00% -23.48% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 0.00 3.77 26.33 8.24 5.28 7.65 5.62 9.97
Noncontrolling Interest Sharing Ratio		 0.00% 123.48% 25.25% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - -
Current Ratio		 0.00 2.31 5.32 2.85 2.54 2.46 2.04 2.14
Quick Ratio		 0.00 2.22 5.18 2.69 2.41 2.37 1.93 2.02
Cash Flow Metrics		 - - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 19 10 -309 -27 -5.42 -181 4.19
Operating Cash Flow to CapEx		 412.63% 554.85% 836.40% 659.93% 495.03% 3,741.42% 3,529.24% 4,211.82%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - -
Asset Turnover		 0.00 0.44 0.33 0.27 0.32 0.38 0.41 0.43
Accounts Receivable Turnover		 0.00 4.23 4.88 4.72 4.97 5.05 5.13 5.05
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 29.65 35.51 35.48 38.07 47.66 69.50 94.94
Accounts Payable Turnover		 0.00 1.50 1.29 1.20 2.32 4.84 7.12 9.95
Days Sales Outstanding (DSO)		 0.00 86.22 74.76 77.29 73.38 72.27 71.19 72.29
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 242.76 284.00 304.46 157.31 75.42 51.28 36.69
Cash Conversion Cycle (CCC)		 0.00 -156.54 -209.25 -227.17 -83.93 -3.15 19.92 35.60
Capital & Investment Metrics		 - - - - - - - -
Invested Capital		 0.00 -24 -44 217 182 134 252 183
Invested Capital Turnover		 0.00 -8.70 -4.42 2.39 1.40 2.22 2.22 2.45
Increase / (Decrease) in Invested Capital		 0.00 -24 -20 262 -36 -47 117 -68
Enterprise Value (EV)		 0.00 518 5,132 2,442 1,696 3,085 2,759 6,685
Market Capitalization		 509 509 5,730 2,863 2,139 3,630 3,281 7,390
Book Value per Share		 $0.00 ($1.23) $6.07 $6.62 $6.23 $6.47 $6.93 $7.50
Tangible Book Value per Share		 $0.00 ($2.08) $5.84 $3.56 $3.38 $3.87 $3.06 $4.02
Total Capital		 0.00 142 554 639 625 679 774 887
Total Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 0.00 -166 -598 -421 -443 -545 -522 -704
Capital Expenditures (CapEx)		 2.08 1.80 3.52 4.23 4.33 1.98 3.14 3.46
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 0.00 -54 -68 -97 -121 -161 -190 -239
Debt-free Net Working Capital (DFNWC)		 0.00 113 530 324 322 384 332 465
Net Working Capital (NWC)		 0.00 113 530 324 322 384 332 465
Net Nonoperating Expense (NNE)		 7.22 0.54 -0.53 16 27 8.37 5.47 7.52
Net Nonoperating Obligations (NNO)		 0.00 -166 -598 -421 -443 -545 -522 -704
Total Depreciation and Amortization (D&A)		 1.12 2.44 5.57 14 17 8.90 15 19
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% -51.14% -45.21% -47.11% -43.12% -46.12% -44.41% -44.92%
Debt-free Net Working Capital to Revenue		 0.00% 107.84% 351.30% 156.64% 115.14% 109.64% 77.41% 87.52%
Net Working Capital to Revenue		 0.00% 107.84% 351.30% 156.64% 115.14% 109.64% 77.41% 87.52%
Earnings Adjustments		 - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 ($0.20) ($0.68) ($0.91) ($0.59) ($0.63) ($0.62)
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 92.16M 97.38M 99.24M 103.32M 109.69M 116.20M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 ($0.20) ($0.68) ($0.91) ($0.59) ($0.63) ($0.62)
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 92.16M 97.38M 99.24M 103.32M 109.69M 116.20M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 ($0.20) ($0.68) $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 46.49M 94.78M 100.95M 106.31M 112.88M 119.63M
Normalized Net Operating Profit after Tax (NOPAT)		 -19 -4.86 -9.93 -48 -63 -53 -64 -64
Normalized NOPAT Margin		 -29.59% -4.64% -6.59% -23.16% -22.46% -15.11% -14.88% -12.09%
Pre Tax Income Margin		 -40.21% -3.60% -8.05% -32.72% -30.26% -15.58% -15.36% -12.42%
Debt Service Ratios		 - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Quarterly Metrics And Ratios for JFrog

This table displays calculated financial ratios and metrics derived from JFrog's official financial filings.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
DEI Shares Outstanding		 - - - - - - - - - 119,628,931.00 121,119,724.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - 119,628,931.00 121,119,724.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - -0.07 -0.03
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 27.06% 25.67% 22.42% 23.04% 19.35% 22.03% 23.46% 25.54% 25.18% 25.79% 28.73%
EBITDA Growth		 62.63% 53.44% 13.80% -82.61% -105.98% -52.75% -43.79% 44.06% 31.10% 90.37% 94.90%
EBIT Growth		 59.09% 50.32% 12.72% -96.60% -121.11% -78.08% -60.81% 38.41% 27.10% 66.02% 71.63%
NOPAT Growth		 38.12% 28.33% -1.16% -65.76% -65.27% -38.07% -35.78% 27.84% 16.10% 43.70% 48.99%
Net Income Growth		 51.49% 57.76% 7.53% -66.91% -106.52% -110.50% -51.54% 28.39% 34.43% 55.32% 80.78%
EPS Growth		 56.52% 61.90% 13.33% -61.54% -110.00% -100.00% -46.15% 33.33% 38.10% 56.25% 84.21%
Operating Cash Flow Growth		 345.62% 1,647.30% -0.08% 6.39% 50.70% 64.82% 116.12% 9.11% 3.21% 33.22% 58.12%
Free Cash Flow Firm Growth		 98.53% 286.37% 41.73% -679.09% -468.43% -396.71% -555.10% 140.99% 139.62% 135.95% 167.36%
Invested Capital Growth		 -26.14% -29.48% -21.66% 91.11% 87.54% 84.52% 65.05% -27.76% -27.23% -22.74% -36.57%
Revenue Q/Q Growth		 9.73% 3.14% 2.72% 5.84% 6.44% 5.45% 3.93% 7.61% 6.13% 5.97% 6.36%
EBITDA Q/Q Growth		 31.43% -10.94% -30.72% -83.64% 22.65% 17.73% -23.05% 28.56% 4.74% 88.50% 34.88%
EBIT Q/Q Growth		 27.20% -6.49% -28.07% -98.01% 18.12% 14.23% -15.65% 24.17% 3.08% 60.02% 3.44%
NOPAT Q/Q Growth		 14.80% -8.18% -14.97% -56.43% 15.06% 9.62% -13.06% 16.87% 1.24% 39.35% -2.46%
Net Income Q/Q Growth		 18.29% 21.75% -62.72% -60.42% -1.10% 20.24% -17.14% 24.19% 7.43% 45.65% 49.62%
EPS Q/Q Growth		 23.08% 20.00% -62.50% -61.54% 0.00% 23.81% -18.75% 26.32% 7.14% 46.15% 57.14%
Operating Cash Flow Q/Q Growth		 25.45% -46.40% -4.42% 65.54% 77.71% -41.38% 25.33% -16.43% 68.10% -24.34% 48.75%
Free Cash Flow Firm Q/Q Growth		 34.12% 14.27% -46.12% -801.32% 14.67% 7.97% 17.36% 163.17% -17.53% -16.50% 54.86%
Invested Capital Q/Q Growth		 -11.14% -4.42% 1.50% 121.66% -12.79% -5.96% -9.21% -2.98% -12.16% -0.15% -25.46%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 79.00% 79.46% 78.75% 74.98% 75.44% 75.34% 76.26% 77.43% 77.86% 78.18% 77.93%
EBITDA Margin		 -7.19% -7.73% -9.84% -17.08% -12.41% -9.68% -11.46% -7.61% -6.83% -0.74% -0.45%
Operating Margin		 -15.81% -16.58% -18.56% -27.44% -21.89% -18.77% -20.41% -15.77% -14.67% -8.40% -8.09%
EBIT Margin		 -9.22% -9.52% -11.87% -22.20% -17.08% -13.89% -15.46% -10.89% -9.95% -3.75% -3.41%
Profit (Net Income) Margin		 -11.55% -8.76% -13.88% -21.04% -19.98% -15.12% -17.04% -12.00% -10.47% -5.37% -2.54%
Tax Burden Percent		 125.27% 92.05% 116.96% 94.76% 117.00% 108.81% 110.22% 110.18% 105.24% 143.05% 74.64%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 -24.53% -27.74% -34.15% -35.82% -34.06% -32.46% -39.34% -22.34% -25.14% -15.80% -19.36%
ROIC Less NNEP Spread (ROIC-NNEP)		 -24.44% -28.30% -33.98% -35.40% -33.05% -32.03% -38.76% -22.10% -25.10% -15.92% -20.07%
Return on Net Nonoperating Assets (RNNOA)		 18.52% 21.74% 26.56% 24.37% 24.27% 24.28% 30.13% 15.31% 18.53% 12.05% 16.13%
Return on Equity (ROE)		 -6.01% -6.01% -7.59% -11.45% -9.79% -8.17% -9.22% -7.03% -6.61% -3.75% -3.23%
Cash Return on Invested Capital (CROIC)		 -3.44% 3.42% -8.41% -88.42% -93.96% -96.81% -91.41% 5.19% 1.93% -1.67% 17.19%
Operating Return on Assets (OROA)		 -3.50% -3.76% -4.82% -9.09% -6.96% -5.81% -6.58% -4.67% -4.28% -1.67% -1.52%
Return on Assets (ROA)		 -4.38% -3.46% -5.64% -8.62% -8.15% -6.33% -7.26% -5.14% -4.51% -2.39% -1.13%
Return on Common Equity (ROCE)		 -6.01% -6.01% -7.59% -11.45% -9.79% -8.17% -9.22% -7.03% -6.61% -3.75% -3.23%
Return on Equity Simple (ROE_SIMPLE)		 0.00% -6.96% -6.66% -7.57% 0.00% -9.87% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -11 -12 -13 -21 -18 -16 -18 -15 -15 -9.05 -9.27
NOPAT Margin		 -11.07% -11.61% -12.99% -19.20% -15.33% -13.14% -14.29% -11.04% -10.27% -5.88% -5.66%
Net Nonoperating Expense Percent (NNEP)		 -0.09% 0.56% -0.17% -0.41% -1.01% -0.42% -0.58% -0.24% -0.05% 0.12% 0.71%
Return On Investment Capital (ROIC_SIMPLE)		 -1.59% - - - -2.30% -2.01% -2.20% -1.76% -1.68% -0.98% -0.97%
Cost of Revenue to Revenue		 21.00% 20.54% 21.25% 25.02% 24.56% 24.66% 23.74% 22.57% 22.14% 21.82% 22.07%
SG&A Expenses to Revenue		 19.02% 16.89% 16.75% 16.26% 15.58% 15.56% 15.83% 14.95% 14.85% 15.42% 15.69%
R&D to Revenue		 33.72% 35.72% 36.02% 39.43% 38.70% 35.40% 37.28% 37.37% 36.59% 33.65% 32.99%
Operating Expenses to Revenue		 94.81% 96.04% 97.32% 102.41% 97.33% 94.11% 96.67% 93.20% 92.53% 86.58% 86.02%
Earnings before Interest and Taxes (EBIT)		 -8.97 -9.55 -12 -24 -20 -17 -20 -15 -14 -5.78 -5.58
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -6.99 -7.76 -10 -19 -14 -12 -15 -10 -9.92 -1.14 -0.74
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 5.35 6.55 5.64 4.24 4.24 4.51 6.08 6.43 8.33 6.08 11.46
Price to Tangible Book Value (P/TBV)		 8.95 10.61 8.98 10.08 9.62 9.67 12.39 12.46 15.52 10.85 19.70
Price to Revenue (P/Rev)		 10.38 12.52 10.46 7.83 7.66 8.02 10.59 10.99 13.89 9.96 18.35
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 23.00 31.66 26.74 9.50 10.97 12.89 20.56 23.39 36.53 26.66 74.75
Enterprise Value to Revenue (EV/Rev)		 8.82 10.96 8.94 6.69 6.44 6.77 9.30 9.70 12.57 8.65 16.97
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 41.60 43.76 37.52 29.01 24.87 24.94 31.18 33.81 45.88 31.38 57.77
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 766.00 0.00 0.00 0.00 0.00 0.00 377.92 1,595.98 0.00 337.52
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 -0.76 -0.77 -0.78 -0.69 -0.73 -0.76 -0.78 -0.69 -0.74 -0.76 -0.80
Leverage Ratio		 1.41 1.40 1.41 1.42 1.45 1.43 1.44 1.45 1.49 1.47 1.51
Compound Leverage Factor		 1.41 1.40 1.41 1.42 1.45 1.43 1.44 1.45 1.49 1.47 1.51
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 7.81 10.04 8.57 6.13 5.75 6.34 8.17 8.47 10.09 7.89 12.90
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 2.46 2.60 2.61 2.03 2.04 2.14 2.13 2.18 2.14 2.26 2.14
Quick Ratio		 2.37 2.48 2.50 1.92 1.93 2.03 2.00 2.06 2.02 2.14 2.02
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 37 42 23 -158 -135 -124 -103 65 54 45 69
Operating Cash Flow to CapEx		 5,273.95% 2,077.17% 2,281.01% 2,952.99% 7,747.32% 4,450.08% 5,755.18% 2,240.49% 6,035.12% 3,584.67% 1,725.31%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.38 0.39 0.41 0.41 0.41 0.42 0.43 0.43 0.43 0.45 0.44
Accounts Receivable Turnover		 5.05 5.71 5.39 5.33 5.13 5.97 5.75 5.10 5.05 5.69 5.48
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 47.66 53.08 57.42 64.86 69.50 75.00 77.52 85.60 94.94 93.54 86.82
Accounts Payable Turnover		 4.84 5.59 5.64 5.82 7.12 8.82 8.45 7.15 9.95 9.45 13.70
Days Sales Outstanding (DSO)		 72.27 63.94 67.77 68.52 71.19 61.11 63.45 71.64 72.29 64.14 66.61
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 75.42 65.27 64.72 62.70 51.28 41.40 43.17 51.04 36.69 38.63 26.65
Cash Conversion Cycle (CCC)		 -3.15 -1.34 3.04 5.82 19.92 19.70 20.28 20.60 35.60 25.51 39.96
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 134 128 130 288 252 237 215 208 183 183 136
Invested Capital Turnover		 2.22 2.39 2.63 1.86 2.22 2.47 2.75 2.02 2.45 2.69 3.42
Increase / (Decrease) in Invested Capital		 -47 -54 -36 138 117 108 85 -80 -68 -54 -79
Enterprise Value (EV)		 3,085 4,058 3,480 2,739 2,759 3,049 4,416 4,874 6,685 4,873 10,183
Market Capitalization		 3,630 4,638 4,071 3,207 3,281 3,612 5,027 5,525 7,390 5,614 11,007
Book Value per Share		 $6.47 $6.61 $6.65 $6.85 $6.93 $7.09 $7.21 $7.36 $7.50 $7.72 $7.93
Tangible Book Value per Share		 $3.87 $4.08 $4.18 $2.88 $3.06 $3.31 $3.54 $3.80 $4.02 $4.32 $4.61
Total Capital		 679 708 721 756 774 800 826 859 887 924 961
Total Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 -545 -580 -591 -468 -522 -564 -612 -651 -704 -741 -824
Capital Expenditures (CapEx)		 0.62 0.84 0.73 0.94 0.63 0.65 0.63 1.35 0.84 1.07 3.31
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -161 -164 -158 -167 -190 -201 -221 -219 -239 -237 -283
Debt-free Net Working Capital (DFNWC)		 384 415 433 301 332 363 390 433 465 505 541
Net Working Capital (NWC)		 384 415 433 301 332 363 390 433 465 505 541
Net Nonoperating Expense (NNE)		 0.47 -2.86 0.91 2.00 5.41 2.42 3.50 1.32 0.28 -0.78 -5.11
Net Nonoperating Obligations (NNO)		 -545 -580 -591 -468 -522 -564 -612 -651 -704 -741 -824
Total Depreciation and Amortization (D&A)		 1.97 1.79 2.09 5.59 5.42 5.16 5.08 4.50 4.53 4.64 4.84
Debt-free, Cash-free Net Working Capital to Revenue		 -46.12% -44.34% -40.57% -40.67% -44.41% -44.50% -46.60% -43.47% -44.92% -41.99% -47.24%
Debt-free Net Working Capital to Revenue		 109.64% 112.16% 111.34% 73.51% 77.41% 80.56% 82.25% 86.06% 87.52% 89.57% 90.18%
Net Working Capital to Revenue		 109.64% 112.16% 111.34% 73.51% 77.41% 80.56% 82.25% 86.06% 87.52% 89.57% 90.18%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.10) ($0.08) ($0.13) ($0.21) ($0.21) ($0.16) ($0.19) ($0.14) ($0.13) ($0.07) ($0.03)
Adjusted Weighted Average Basic Shares Outstanding		 103.32M 107.03M 108.94M 110.77M 109.69M 113.45M 115.25M 117.26M 116.20M 120.16M 121.82M
Adjusted Diluted Earnings per Share		 ($0.10) ($0.08) ($0.13) ($0.21) ($0.21) ($0.16) ($0.19) ($0.14) ($0.13) ($0.07) ($0.03)
Adjusted Weighted Average Diluted Shares Outstanding		 103.32M 107.03M 108.94M 110.77M 109.69M 113.45M 115.25M 117.26M 116.20M 120.16M 121.82M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 106.31M 108.42M 110.42M 111.56M 112.88M 114.57M 116.74M 118.31M 119.63M 121.12M 123.30M
Normalized Net Operating Profit after Tax (NOPAT)		 -11 -12 -13 -21 -18 -16 -18 -15 -15 -9.05 -9.27
Normalized NOPAT Margin		 -11.07% -11.61% -12.99% -19.20% -15.33% -13.14% -14.29% -11.04% -10.27% -5.88% -5.66%
Pre Tax Income Margin		 -9.22% -9.52% -11.87% -22.20% -17.08% -13.89% -15.46% -10.89% -9.95% -3.75% -3.41%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Financials Breakdown Chart

Key Financial Trends

JFrog’s financial results show a company with strong top-line growth and improving cash generation, but one that remains unprofitable on a GAAP basis. The latest quarter, Q2 2026, continued the broader trend of improving operating performance compared with 2022 and 2023.

  • Revenue growth remains strong. Quarterly revenue increased from $72.0 million in Q3 2022 to $163.8 million in Q2 2026. On a year-over-year basis, Q2 2026 revenue rose approximately 28.7% from the restated $127.2 million reported in Q2 2025.
  • Gross margins have remained resilient. Gross profit increased to $127.6 million in Q2 2026 from $65.7 million in Q2 2023. The latest gross margin was approximately 77.9%, broadly consistent with the company’s recent results despite continued growth.
  • Operating and net losses are narrowing. The Q2 2026 operating loss was $13.2 million, compared with a $29.9 million loss in Q3 2024. The net loss improved to $4.2 million from $21.7 million in Q2 2025 and $23.6 million in Q3 2022.
  • Operating cash flow has strengthened materially. JFrog generated $57.1 million of operating cash flow in Q2 2026, up from $38.4 million in Q1 2026 and $36.1 million in Q2 2025. Operating cash flow has been positive in nearly every reported quarter since Q2 2023, with Q1 2023 the notable exception.
  • Liquidity remains a major financial strength. Cash and short-term investments totaled approximately $824.7 million at June 30, 2026, compared with roughly $440.0 million in Q3 2022. The balance sheet shows no traditional debt line, giving JFrog substantial financial flexibility.
  • Deferred revenue continues to expand. Current and noncurrent deferred revenue reached approximately $385.8 million in Q2 2026, up from $156.7 million in Q3 2022. This supports visibility into future revenue, although deferred revenue is recognized over time rather than immediately.
  • Cash flow benefits substantially from noncash adjustments. Q2 2026 operating cash flow included $42.0 million of noncash adjustments and $14.3 million from changes in operating assets and liabilities. This supports cash generation, but investors should monitor how much of the improvement converts into sustainable earnings and free cash flow.
  • Investment activity creates quarter-to-quarter cash volatility. JFrog regularly purchases and liquidates short-term investments. In Q2 2026, investment purchases of $172.1 million exceeded maturities or sales of $125.3 million, contributing to $50.1 million of investing cash outflow. These transactions appear primarily related to cash management rather than operating expansion.
  • GAAP profitability has not yet been achieved. JFrog has reported a GAAP operating loss in every provided quarter, and retained earnings remained negative at $443.9 million in Q2 2026. The company’s improving losses are encouraging, but sustained profitability remains an important milestone.
  • Share dilution is a continuing concern. Weighted-average basic shares increased from approximately 99.6 million in Q3 2022 to 121.8 million in Q2 2026. Equity issuance and stock-based compensation can help retain employees and preserve cash, but they reduce each existing shareholder’s ownership percentage.

Overall, JFrog’s financial trajectory is improving: revenue is growing rapidly, gross margins are stable, operating losses are narrowing, and operating cash flow is rising. The primary risks are the continued GAAP losses, significant reliance on noncash adjustments to reconcile earnings to cash flow, and ongoing dilution. Investors should watch whether revenue growth can eventually outpace sales, marketing and research expenses enough to produce durable operating profitability.

09/14/26 12:38 AM ETAI Generated. May Contain Errors.

JFrog Financials - Frequently Asked Questions

According to the most recent income statement we have on file, JFrog's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

JFrog's net income appears to be on an upward trend, with a most recent value of -$71.82 million in 2025, rising from -$26.02 million in 2018. The previous period was -$69.24 million in 2024. See where experts think JFrog is headed by visiting JFrog's forecast page.

JFrog's total operating income in 2025 was -$91.85 million, based on the following breakdown:
  • Total Gross Profit: $408.39 million
  • Total Operating Expenses: $500.24 million

Over the last 7 years, JFrog's total revenue changed from $63.53 million in 2018 to $531.84 million in 2025, a change of 737.1%.

JFrog's total liabilities were at $453.93 million at the end of 2025, a 27.4% increase from 2024, and a 374.7% increase since 2019.

In the past 6 years, JFrog's cash and equivalents has ranged from $39.15 million in 2019 to $164.46 million in 2020, and is currently $75.84 million as of their latest financial filing in 2025.

Over the last 7 years, JFrog's book value per share changed from 0.00 in 2018 to 7.50 in 2025, a change of 750.1%.


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Financial statements for NASDAQ:FROG last updated on 8/7/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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