Jfrog (FROG) financial statements
Jfrog reported revenue of $532M in fiscal 2025, up 35.5% a year over 7 years.
Net income was -$72M and the operating margin -17.3%, against -42.3% in 2018.
Free cash flow was $142M.
The diluted share count rose 345% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Jfrog's 10-K filings with the SEC.
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $64M | $105M | $151M | $207M | $280M | $350M | $428M | $532M |
| Cost of revenue | $11M | $20M | $28M | $42M | $62M | $77M | $98M | $123M |
| Gross profit | $53M | $85M | $122M | $165M | $218M | $273M | $330M | $408M |
| Research and development | $26M | $30M | $41M | $80M | $121M | $135M | $161M | $195M |
| Selling, general and admin | $54M | $62M | $95M | $154M | $186M | $214M | $260M | $305M |
| Operating income | -$27M | -$7M | -$14M | -$68M | -$90M | -$76M | -$91M | -$92M |
| Pre-tax income | -$26M | -$4M | -$12M | -$68M | -$85M | -$55M | -$66M | -$66M |
| Income tax | $470,000 | $2M | -$3M | -$3M | $5M | $7M | $3M | $6M |
| Net income | -$26M | -$5M | -$9M | -$64M | -$90M | -$61M | -$69M | -$72M |
| EPS (diluted) | -$1.00 | -$0.20 | -$0.20 | -$0.68 | -$0.91 | -$0.59 | -$0.63 | -$0.62 |
| Diluted shares | 26M | 27M | 46M | 95M | 99M | 103M | 110M | 116M |
| Gross margin | 83.1% | 80.9% | 81.1% | 79.8% | 77.8% | 78.0% | 77.1% | 76.8% |
| Operating margin | -42.3% | -6.6% | -9.4% | -33.1% | -32.1% | -21.6% | -21.3% | -17.3% |
| Net margin | -40.9% | -5.2% | -6.2% | -31.1% | -32.2% | -17.5% | -16.2% | -13.5% |
Balance sheet
Fiscal years, from Jfrog's 10-K filings with the SEC.
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $178M | $166M | $598M | $421M | $443M | $545M | $522M | $704M |
| Receivables | — | $25M | $37M | $50M | $62M | $76M | $91M | $120M |
| Total current assets | — | $199M | $653M | $499M | $532M | $646M | $649M | $873M |
| Property, plant and equipment | — | $4M | $5M | $7M | $8M | $7M | $6M | $6M |
| Goodwill | $2M | $17M | $17M | $248M | $248M | $248M | $372M | $372M |
| Total assets | — | $238M | $689M | $853M | $871M | $973M | $1.1B | $1.3B |
| Total current liabilities | — | $86M | $123M | $175M | $210M | $262M | $318M | $408M |
| Total liabilities | — | $96M | $135M | $214M | $246M | $293M | $356M | $454M |
| Shareholders' equity | -$39M | -$33M | $554M | $639M | $625M | $679M | $774M | $887M |
| Net debt | -$178M | -$39M | -$164M | -$68M | -$46M | -$85M | -$50M | -$76M |
Cash flow
Fiscal years, from Jfrog's 10-K filings with the SEC.
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $9M | $10M | $29M | $28M | $21M | $74M | $111M | $146M |
| Capital spending | $2M | $2M | $4M | $4M | $4M | $2M | $3M | $3M |
| Free cash flow | $6M | $8M | $26M | $24M | $17M | $72M | $108M | $142M |
| Stock-based compensation | $20M | $9M | $24M | $57M | $69M | $95M | $131M | $157M |
| Free cash flow margin | 10.2% | 7.8% | 17.2% | 11.5% | 6.1% | 20.6% | 25.2% | 26.8% |
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Open FROG in InvestinglyQuestions
What was Jfrog's revenue in 2025?
$532M in fiscal 2025, from its 10-K filing.
How much free cash flow does Jfrog generate?
$142M in fiscal 2025 (operating cash flow minus capital spending).
From Jfrog's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.