What does JFrog do and what are its main business segments?

Did JFrog beat or miss consensus estimates last quarter?

What is JFrog's latest dividend and current dividend yield?

What were the key takeaways from JFrog's earnings call?

What factors drove the changes in JFrog's revenue and profit?

What were the key takeaways from JFrog’s earnings call?

What is the market's earnings forecast for JFrog next quarter?

What guidance did JFrog's management provide for the next earnings period?

- **Revenue Growth**: FY2025 total revenue $531.8M (+24%), cloud revenue $243.3M (+45%).
- **Security Momentum**: Security Core ARR >10%, RPO 16% vs. 12% prior year.
- **AI Expansion**: JFrog ML adoption rising, AI binaries surge driving 30-32% 2026 cloud growth.
- **Financial Outlook**: 2026 revenue $623-628M (+17.5%), non-GAAP EPS $0.88-0.92.
- **Strategic Wins**: NVIDIA AI Factory partner, Hugging Face secure model registry, 3/5 top AI-native companies using JFrog.

**【CEO Summary Section】**
- Total revenue for FY 2025: $531.8 million (24% YoY growth), with Q4 revenue at $145.3 million (25% YoY growth).
- Cloud revenue grew 45% YoY to $243.3 million, representing 46% of total revenue.
- Security products (excluding JFrog Xray) contributed over 10% of ARR, with RPO for Security Core at 16% of total RPO.
- Greater than $1 million customers increased 42% YoY to 74, and customers spending over $100,000 grew 15% to 1,168.
- AI-driven binaries surge: JFrog positioned as system of record for binaries and AI models, with partnerships with NVIDIA and Hugging Face.
- Net dollar retention rate: 119% (4Q25), gross retention: 97%.

**【CFO Financial Commentary】**
- Q4 2025: GAAP net income $25.7 million, non-GAAP EPS $0.20 (midpoint of guidance).
- FY 2025: Non-GAAP EPS $0.82 (26% YoY growth), free cash flow $142.2 million (27% margin).
- 2026 Outlook: Revenue $623-$628 million (17.5% YoY growth), non-GAAP EPS $0.88-$0.92.
- Gross margin expected 82-83%, operating expenses disciplined amid FX headwinds.

**【Q&A Key Highlights】**
- **Customer Strategy**: Focused on high-ASP enterprise customers, consolidating 300 low-ASP subsidiaries into parent entities.
- **Security Growth**: JFrog Curation adoption accelerated post-NPM attack, with Security Core RPO up 40% YoY.
- **AI Impact**: AI agents generating 10x more binaries, driving cloud usage spikes; JFrog ML adoption for model governance.
- **FX Risks**: Weakening USD adds 1-2% annualized expense headwind, partially hedged.
- **Competitive Position**: 3 of top 5 AI-native companies use JFrog; NVIDIA AI Factory partner for secure model registry.
- **Long-Term Vision**: AppTrust for automated governance, MCP server for agent integration, and JFrog Fly for AI-driven DevOps.

JFrog Ltd. (FROG) Q4 2025 Earnings Call Transcript

- **Revenue Surge**: Q3 revenue $136.9M (+26% YoY), cloud revenue $63.4M (+50% YoY), 56% of revenue from Enterprise Plus subscriptions.
- **Enterprise Expansion**: 71 customers >$1M (54% YoY growth), 1,121 >$100k (16% YoY). 4Q NDR 118%, up from 116% full year target.
- **Security Momentum**: Signed $9M UK deal, $4M energy deal, and U.S. federal agency contract. JFrog Curation blocked recent NPM attacks.
- **AI Innovation**: Launched JFrog Fly (agentic delivery) and AI Catalog. Integrated with NVIDIA and Cursor, positioning as AI model registry leader.
- **Financial Strength**: Gross margin 83.9%, free cash flow $28.8M. Full year guidance $523-525M, cloud growth 40-42% (excluding usage).

**【CEO Summary Section】**
- **Revenue Growth**: Total revenue of $136.9 million, up 26% YoY, driven by 50% YoY growth in cloud revenue ($63.4 million). Enterprise Plus subscriptions now account for 56% of total revenue, up from 50% last year.
- **Enterprise Expansion**: Customers spending over $1 million grew 54% YoY to 71, while those spending over $100k increased 16% to 1,121. 4Q trailing net dollar retention (NDR) was 118%, reflecting strong adoption of security and cloud solutions.
- **Security Wins**: Signed multiyear deals with UK Customs & Revenue ($9M TCV), a U.S. federal agency, and a top energy corp ($>4M TCV), showcasing demand for JFrog Curation and Advanced Security.
- **AI & Product Innovation**: Launched JFrog Fly (agentic AI-driven delivery platform) and AI Catalog (model governance tool). Integrated with NVIDIA AI Enterprise and Cursor, positioning as the model registry of choice for AI workflows.

**【CFO Financial Commentary】**
- **Financial Highlights**: GAAP gross margin 83.9%, up from 82.8% YoY. Operating profit $25.6M (18.7% margin), up from $14.7M (13.5%). Free cash flow $28.8M (21% margin).
- **Guidance Update**: Full year 2025 revenue expected $523-525M (+22.3% YoY). Cloud growth 40-42%, excluding usage over commitments. Non-GAAP EPS $0.78-0.80, reflecting cautious macro outlook.
- **Balance Sheet**: $651.1M cash, up 25% YoY. RPO $508M (+47% YoY), driven by multiyear contracts.

**【Q&A Key Highlights】**
- **Cloud Growth Drivers**: CEO attributes to security adoption (e.g., Curation) and strategic conversions of high-usage customers to annual contracts. CFO notes 40-42% cloud growth excludes usage over commitments.
- **AI Impact**: JFrog Fly enables developers to focus on code while AI agents handle artifact management. Customers using Hugging Face, PyPI, Docker for AI models see higher cloud consumption.
- **Security Adoption**: 54% YoY growth in >$1M customers driven by security sales. JFrog Curation blocked recent NPM and PyPI attacks, reinforcing trust in enterprise customers.
- **Guidance Prudence**: CFO cites macro uncertainty and large deal timing risks, excluding $5.7M Qwak AI holdback payments from Q3 results.

JFrog Ltd. (FROG) Q3 2025 Earnings Call Transcript

- **Revenue Surge**: Q2 revenue up 23% YoY to $127.2M, with cloud revenue jumping 45% to $57.1M. >$1M customers +45% YoY to 61.
- **AI & Security Momentum**: NVIDIA partnership positions JFrog as enterprise AI factory backbone. Security Core adoption boosted retention to 118%, with a $7M+ telecom deal.
- **Financial Strength**: Free cash flow $35.5M (28% margin), RPO +75% YoY. Full year guidance: $507-510M revenue, 34-36% cloud growth.
- **Strategic Focus**: Hybrid infrastructure, model registry leadership, and security consolidation driving enterprise expansion.

**【CEO Summary Section】**
- **Revenue Growth**: Q2 software revenue reached $127.2 million, up 23% YoY, driven by cloud growth (45% YoY to $57.1 million) and enterprise expansion. Greater than $1M customers grew 45% YoY to 61, while >$100K customers increased 16% YoY to 1,076.
- **Cloud Strategy**: Focused on converting high-usage on-prem customers to annual cloud contracts. Hybrid infrastructure demand is rising due to AI cost predictability concerns, aligning with JFrog's unified platform.
- **AI & Security Leadership**: Announced NVIDIA partnership for enterprise AI factories, positioning JFrog as the model registry of choice. Security Core adoption boosted net dollar retention to 118% (up 2pts QoQ). A major telecom expanded to a $7M+ deal for JFrog Curation.
- **Product Innovation**: Launched JFrog MCP server and security research on AI exploit risks. Security solutions are becoming mission-critical for enterprises consolidating DevSecOps tools.

**【CFO Financial Commentary】**
- **Financial Highlights**: GAAP gross margin 83.1%, operating margin 15.2% ($19.4M profit). Free cash flow $35.5M (28% margin), up from $16M YoY. RPO reached $476.7M, +75% YoY.
- **Guidance**: Full year 2025 revenue $507-510M (18.7% growth). Cloud growth 34-36%, excluding usage above min commitments. Non-GAAP EPS $0.68-0.70. Q3 revenue $127-129M, EPS $0.15-0.17.
- **Cost Management**: Optimized cloud provider contracts to maintain 82.5-83.5% annual gross margin. Operating expenses 68% of revenue, down from 71% YoY.

**【Q&A Highlights】**
- **Cloud vs On-Prem**: Hybrid infrastructure adoption is slowing cloud migration but increasing long-term value. JFrog's fit-for-purpose approach addresses AI cost uncertainty.
- **Security Growth**: Security Core adoption is driving retention and pipeline. Attach rates will be disclosed at year-end, but CISOs are prioritizing consolidation of scanners.
- **AI Partnerships**: NVIDIA, Hugging Face, and hyperscaler integrations are accelerating JFrog's model registry leadership. New AI coding tools (e.g., MCP servers) are creating security opportunities.
- **Pipeline Confidence**: Despite macro caution, Q2 pipeline strength supports guidance. Large deals are derisked but remain robust. Security and cloud growth are key drivers.


JFrog (FROG)-7 Aug 25-2025 Q2 Earnings call transcript

- **Revenue Growth Strong**: Q1 2025 revenue up 22% YoY to $122.4M, with cloud revenue surging 42% to $52.6M. 
- **MLops Breakthrough**: Launched JFrog ML, winning a major AI leader deal and partnering with Hugging Face to secure 1.5M ML models. 
- **Financial Health**: 17.4% operating margin, $28.1M free cash flow, and RPO up 62% YoY to $424.2M. 
- **Guidance Cautious**: FY25 cloud growth 31-33%, revenue $500-505M, reflecting macro uncertainty but strong pipeline. 
- **Key Metrics**: >$1M customers +35%, 97% gross retention, and 55% Enterprise Plus revenue share.

**【CEO Summary Section】**
- Q1 2025 total revenue reached $122.4 million, up 22% YoY, driven by 42% YoY growth in cloud revenue ($52.6 million) and 35% YoY growth in >$1M customers (54 vs. 40). 
- Cloud usage exceeded contractual commitments, but macroeconomic uncertainty led to cautious outlook. 
- Launched JFrog ML, unifying DevOps, DevSecOps, and MLOps, with Hugging Face partnership to secure 1.5M open-source ML models. 
- Won a major AI leader deal for JFrog as system of record for models and MLops, with potential for security and ML model scanning expansion.

**【CFO Financial Commentary】**
- Gross profit $101M (82.5% margin), operating profit $21.4M (17.4% margin), up from $14.1M (14% margin) in Q1 2024. 
- Free cash flow $28.1M (23% margin), up from $16.6M (17% margin) YoY. 
- RPO $424.2M (+62% YoY), reflecting multiyear commitments. 
- Updated FY25 guidance: cloud growth 31-33%, revenue $500-505M, non-GAAP EPS $0.68-0.70. 
- Excluding largest deals due to macro uncertainty, net dollar retention stabilizing in mid-teens.

**【Q&A Highlights】**
- **Cloud Usage Sustainability**: Ed Grabscheid notes Q1 overachievement but cautious on continuity; 55% of revenue from Enterprise Plus subscriptions. 
- **GitHub Partnership Impact**: Shlomi Haim highlights developer-driven adoption, with Thomas Dohmke (GitHub CEO) calling JFrog "binary side of workflow". 
- **MLops Pipeline**: Early-stage adoption, with credit-based monetization model; no contribution in FY25 guidance. 
- **Macro Risks**: Longer sales cycles, budget constraints, but 97% gross retention rate signals customer stickiness. 
- **Long-Term Vision**: 2027 revenue target remains on track, with cash flow margin guidance at 20%+ for FY25.

JFrog (FROG)-8 May 25-2025 Q1 Earnings call transcript

- **Revenue Beats Expectations**: 22% YoY growth to $428.5M, with cloud revenue up 41% to $168M. Q4 cloud revenue at $49.4M (37% YoY growth).
- **AWS Collaboration**: Strategic partnership to enable cost-effective scaling of DevSecOps and AI solutions.
- **Security Dominance**: 250 customers migrated to JFrog's security suite, contributing 5% of ARR and 12% of RPO. MLOps integration via Qwak AI launched in Q4.
- **Enterprise Expansion**: Customers with ARR >$100k grew 15%, and >$1M ARR customers rose to 52% (vs. 37% YoY).
- **2025 Outlook**: Revenue $499-503M (17% YoY growth), cloud growth 30-32%, and security core to drive material revenue. Free cash flow margin expected to remain strong.

**【CEO Summary Section】**
- **Revenue Growth**: Total revenue for 2024 reached $428.5 million, up 22% YoY, with cloud revenue at $168 million (41% YoY growth). Q4 revenue was $116.1 million, up 19% YoY.
- **Cloud Momentum**: Signed a strategic collaboration with AWS to enable cost-effective scaling of DevSecOps and AI solutions. Cloud revenue in Q4 was $49.4 million (37% YoY growth), driven by large customer wins and migrations.
- **Security Expansion**: Security solutions (e.g., JFrog Curation, Advanced Security) now account for 5% of ARR and 12% of RPO, with 250 customers migrating from point solutions. MLOps integration via Qwak AI launch in Q4 2024.
- **Enterprise Focus**: Customers with ARR >$100k grew to 1,018 (vs. 886 YoY), and those with ARR >$1M increased to 52% (vs. 37% YoY). Focused on high ARR deals, reducing low-subscription customers.

**【CFO Financial Commentary】**
- **Q4 Financials**: GAAP net income of $42.1 million, Non-GAAP EPS of $0.65 (27% YoY growth). Free cash flow was $48.5 million (42% margin), with full-year free cash flow of $107.8 million (25% margin).
- **Gross Margin**: 83.2% in Q4, stable at 82.5-83.5% for 2025. Operating expenses were $75.6 million (65% of revenue), with focus on cost discipline.
- **2025 Guidance**: Revenue $499-503 million (17% YoY growth). Cloud growth 30-32%, NDR stabilizing in mid-teens. Security core to drive material revenue in 2025.

**【Q&A Key Themes】**
- **Cloud Migration**: Pipeline consistent with 2024, no significant change in migration activity. Cloud growth assumptions conservative, with usage above minimum commits stable.
- **Security Traction**: 250 customers adopted security solutions, targeting 5% ARR contribution in 2025. CISO/CIO consolidation trends driving pipeline.
- **AWS Partnership**: Cost-effective scaling for customers, enhancing JFrog's cloud value proposition.
- **MLOps Outlook**: JFrog ML launched in Q4 2024, focusing on enterprise adoption and integration with AI workflows. No 2025 guidance yet, but R&D prioritized.
- **Guidance Philosophy**: More conservative, derisking large deals and focusing on committed contracts. 2025 guidance excludes usage-based upside.

Actual	0.05	0.02	0.02	0.01	0.01	-0.01	0	-0.02	0.02	0.04	0.06	0.11	0.15	0.19	0.16	0.15	0.15	0.19	0.2	0.18	0.22	0.22
Forecast	-0.005	0.0164	0.01	0.01	-0.029	0.0034	0	-0.0333	0.0003	0.0162	0.0325	0.0508	0.0818	0.1246	0.1432	0.1453	0.106	0.1393	0.1635	0.1634	0.1637	0.1891
Surprise	+1100.00%	+21.95%	+100.00%	0.00%	+134.48%	-394.12%	0.00%	+39.94%	+6566.67%	+146.91%	+84.62%	+116.54%	+83.37%	+52.49%	+11.73%	+3.23%	+41.51%	+36.40%	+22.32%	+10.16%	+34.39%	+16.34%

FROG

FROG fundamentals

FROG Q4 2025 Earnings

Earnings Call

You can ask Aime

FROG

FROG fundamentals

FROG Q4 2025 Earnings

Earnings Call

FROG Earnings Call Summary for Q4/20255:00 PM on Feb 12, 2026

FROG Earnings Call Summary for Q3/20255:00 PM on Nov 6, 2025

FROG Earnings Call Summary for Q2/20255:00 PM on Aug 7, 2025

FROG Earnings Call Summary for Q1/20255:00 PM on May 8, 2025

FROG Earnings Call Summary for Q4/20245:00 PM on Feb 13, 2025

You can ask Aime