Jfrog Ltd. ( (FROG) ) has released its Q3 earnings. Here is a breakdown of the information Jfrog Ltd. presented to its investors.
JFrog Ltd., known as the “Liquid Software” company, specializes in software supply chain management, offering a platform that helps organizations manage and distribute software efficiently and securely across various cloud environments. The company has attracted a wide customer base, including many Fortune 100 companies.
In its third quarter of 2024, JFrog reported a total revenue of $109.1 million, showcasing a robust 23% increase compared to the same period last year. The company also highlighted significant growth in its cloud revenues, which rose by 38% year-over-year, a result of increased cloud migrations and a focus on security.
Key financial metrics for the quarter include a GAAP gross profit of $81.8 million, with a non-GAAP gross profit reaching $90.3 million. Despite a GAAP operating loss of $29.9 million, JFrog achieved a non-GAAP operating income of $14.7 million. The company also reported an impressive operating cash flow of $27.6 million. Strategically, JFrog expanded its platform with new MLOps and runtime security features and announced collaborations, including one with NVIDIA to enhance machine learning models.
Looking ahead, JFrog’s management maintains a positive outlook for the fourth quarter and the full fiscal year. The company expects continued revenue growth and plans to further integrate recent acquisitions to strengthen its platform offerings. This forward momentum reflects JFrog’s ongoing commitment to innovation and market expansion in the software supply chain sector.
