Jfrog Ltd. ( (FROG) ) has released its Q4 earnings. Here is a breakdown of the information Jfrog Ltd. presented to its investors.
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JFrog Ltd., a leading company in the software supply chain sector, is renowned for its Liquid Software vision, which enables organizations to manage and distribute software securely and efficiently across multiple platforms.
In its latest earnings report, JFrog Ltd. announced strong fiscal results for 2024, with total revenue reaching $428.5 million, marking a 22% increase from the previous year. The company’s cloud revenues surged by 41%, reflecting successful customer migrations and significant new client acquisitions.
A noteworthy highlight from JFrog’s performance includes a substantial rise in customers with annual recurring revenue (ARR) exceeding $1 million, increasing by 41% to 52 customers. The company’s cloud revenue for the fourth quarter alone was $49.4 million, up 37% year-over-year, representing 43% of total revenue. JFrog also reported a non-GAAP gross margin of 83.8% for the fiscal year, alongside a positive operating cash flow of $110.9 million.
Despite a GAAP operating loss, JFrog’s non-GAAP metrics showed strong profitability with a non-GAAP operating income of $63.3 million for the year. The company also entered a strategic collaboration with Amazon Web Services to enhance cloud migrations, underscoring its commitment to expanding its cloud presence and security offerings.
Looking ahead, JFrog’s management remains optimistic, projecting fiscal 2025 revenues between $499.0 million and $503.0 million. The company aims to continue its momentum in cloud expansion and platform adoption, reinforcing its position in the software supply chain market.
