JFrog Ltd. demonstrated strong revenue growth, particularly in the cloud and security segments, with significant enterprise market focus. However, there is cautious guidance for 2025, with macroeconomic and regulatory uncertainties affecting customer decisions. Overall, the positive achievements outweigh the challenges.

Company Guidance

During the call, JFrog Ltd. provided detailed guidance and metrics for the fiscal year 2024, highlighting a total revenue of $428.5 million, which represented a 22% year-over-year growth. Cloud revenue reached $168 million, showing a 41% increase from the previous year. The company's gross margin for the year was 83.8%, with a strong free cash flow of $107.8 million, equating to a 25% free cash flow margin. Fourth quarter revenues were $116.1 million, up 19% year-over-year, with cloud revenues growing to $49.4 million, representing 43% of total revenues for the quarter. JFrog Ltd. reported significant enterprise growth, with customers having ARR over $100,000 increasing to 1,018 and those exceeding $1 million rising to 52. Looking ahead, the company projected a conservative estimate for 2025, with full-year revenues anticipated to be between $499 million and $503 million, reflecting a 17% year-over-year growth at the midpoint, and cloud growth expected between 30% to 32%.

Strong Revenue Growth

Total revenue for 2024 was $428.5 million, up 22% year over year, with cloud revenue growing 41% year over year to $168 million.

Cloud Segment Success

Fourth quarter cloud revenues were $49.4 million, up 37% year over year, driven by large customer wins and migrations to a new enhanced cloud database product.

Significant Security Adoption

Advanced security and curation were adopted by approximately 250 customers, with security core products contributing to 5% of ARR and 12% of RPO.

Enterprise Market Focus

Customers with ARR over $100,000 grew to 1,018, up from 886 in the year-ago period, and those with ARR over $1 million increased to 52, up from 37.

MLOps Expansion

Acquired Quack AI, making JFrog the first to unify DevOps, DevSecOps, and MLOps within a single platform.

Record Free Cash Flow

Achieved a record quarter with $48.5 million in free cash flow, representing a 42% margin for Q4.

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JFrog (FROG) Earnings, Revenues Date & History

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FROG Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
May 01, 2025	2025 (Q1)	0.16 / -	0.16	―	―	―
Feb 13, 2025	2024 (Q4)	0.14 / 0.19	0.19	0.00% (0.00)
Nov 07, 2024	2024 (Q3)	0.11 / 0.15	0.15	0.00% (0.00)
Aug 07, 2024	2024 (Q2)	0.14 / 0.15	0.11	36.36% (+0.04)
May 09, 2024	2024 (Q1)	0.14 / 0.16	0.06	166.67% (+0.10)
Feb 14, 2024	2023 (Q4)	0.13 / 0.19	0.04	375.00% (+0.15)
Nov 01, 2023	2023 (Q3)	0.08 / 0.15	0.02	650.00% (+0.13)
Aug 02, 2023	2023 (Q2)	0.05 / 0.11	-0.02	650.00% (+0.13)
May 03, 2023	2023 (Q1)	0.03 / 0.06	0	―
Feb 08, 2023	2022 (Q4)	0.02 / 0.04	-0.01	500.00% (+0.05)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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FROG Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Feb 13, 2025	$37.71	$39.80	+5.54%
Nov 07, 2024	$32.86	$31.10	-5.36%
Aug 07, 2024	$34.05	$24.68	-27.52%
May 09, 2024	$40.62	$33.01	-18.73%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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