FROG - JFrog Ltd.
Price:
--
--
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CONSENSUS:
Buy
DETAILS
|
PRICE TARGET:
$74.93
DETAILS
HIGH:
$90.00
LOW:
$52.00
MEDIAN:
$80.00
CONSENSUS:
$74.93
UPSIDE:
1.27%
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | ||||||||
| Revenue | 531.8 | 428.5 | 349.9 | 280.0 | 206.7 | 150.8 | 104.7 | 63.5 |
| Cost of Revenue | 123.5 | 98.3 | 77.0 | 62.3 | 41.8 | 28.5 | 20.0 | 10.7 |
| Gross Profit | 408.4 | 330.2 | 272.8 | 217.8 | 164.9 | 122.4 | 84.7 | 52.8 |
| Operating Expenses | ||||||||
| R&D Expenses | 195.1 | 160.9 | 134.6 | 121.2 | 79.6 | 41.1 | 29.7 | 25.9 |
| SG&A Expenses | 300.4 | 255.2 | 212.1 | 186.4 | 153.6 | 95.5 | 61.9 | 53.8 |
| Other Expenses | 2.8 | 3.3 | 1.4 | 0 | 0 | 0 | 0 | 0 |
| Operating Expenses | 498.3 | 419.3 | 348.1 | 307.6 | 233.2 | 136.6 | 91.6 | 79.7 |
| Operating Income | ||||||||
| Operating Income | (89.9) | (89.1) | (75.3) | (89.8) | (68.4) | (14.2) | (6.9) | (26.9) |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 25.8 | 25.3 | 21.0 | 5.1 | 0.7 | 2.0 | 3.2 | 1.3 |
| Profitability | ||||||||
| EBITDA | (65.4) | (67.7) | (60.0) | (75.2) | (59.6) | (10.5) | (4.1) | (25.7) |
| EBIT | (89.9) | (89.1) | (75.3) | (89.8) | (68.4) | (14.2) | (6.9) | (26.9) |
| Income Before Tax | (66.0) | (65.8) | (54.5) | (84.7) | (67.6) | (12.1) | (3.8) | (25.5) |
| Income Tax Expense | 5.8 | 3.4 | 6.7 | 5.4 | (3.4) | (2.7) | 1.6 | 0.5 |
| Net Income | (71.8) | (69.2) | (61.3) | (90.2) | (64.2) | (9.4) | (5.4) | (26.0) |
| Per Share Data | ||||||||
| EPS (Basic) | -0.62 | -0.63 | -0.59 | -0.91 | -0.68 | -0.20 | -0.07 | -0.32 |
| EPS (Diluted) | -0.62 | -0.63 | -0.59 | -0.91 | -0.68 | -0.20 | -0.07 | -0.32 |
| Shares Outstanding | 116.2 | 109.7 | 103.3 | 99.2 | 94.8 | 46.5 | 80.3 | 80.3 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|
| Current Assets | ||||||||
| Cash & Cash Equivalents | 76.6 | 50.6 | 84.8 | 45.6 | 68.3 | 164.5 | 39.2 | 178.2 |
| Short-Term Investments | 628.6 | 472.1 | 460.2 | 397.6 | 352.8 | 433.6 | 127.3 | 0 |
| Net Receivables | 119.9 | 90.7 | 76.4 | 62.1 | 50.5 | 37.0 | 24.7 | 19.8 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Assets | 25.7 | 36.5 | 24.4 | 8.1 | 5.3 | 3.7 | 2.4 | 1.6 |
| Total Current Assets | 850.8 | 649.2 | 645.8 | 532.0 | 499.0 | 652.6 | 198.9 | 202.3 |
| Non-Current Assets | ||||||||
| Property, Plant & Equipment | 17.6 | 19.9 | 29.1 | 32.6 | 32.7 | 5.0 | 3.5 | 3.1 |
| Goodwill | 371.5 | 371.5 | 248.0 | 248.0 | 247.8 | 17.3 | 17.3 | 1.6 |
| Intangible Assets | 39.9 | 60.8 | 25.8 | 37.5 | 48.0 | 4.0 | 5.6 | 3.1 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 1.8 | 1.6 |
| Other Non-Current Assets | 61.6 | 28.5 | 23.9 | 21.1 | 25.1 | 10.3 | 12.7 | 6.9 |
| Total Non-Current Assets | 490.6 | 480.7 | 326.8 | 339.2 | 353.5 | 36.7 | 39.1 | 14.9 |
| Total Assets | 1,341.4 | 1,129.9 | 972.6 | 871.2 | 852.5 | 689.2 | 238.0 | 217.1 |
| Current Liabilities | ||||||||
| Account Payables | 14.2 | 10.6 | 17.0 | 14.9 | 10.9 | 9.9 | 5.0 | 3.2 |
| Short-Term Debt | 5.8 | 7.8 | 8.3 | 7.1 | 7.3 | 0 | 0 | 0 |
| Deferred Revenue | 309.6 | 247.2 | 201.1 | 158.7 | 129.1 | 91.8 | 72.7 | 51.9 |
| Other Current Liabilities | 27.3 | 19.0 | 10.6 | 8.0 | 10.4 | 12.2 | 3.0 | 2.2 |
| Total Current Liabilities | 407.5 | 317.5 | 262.2 | 209.6 | 175.3 | 122.7 | 86.0 | 61.6 |
| Non-Current Liabilities | ||||||||
| Long-Term Debt | 6.7 | 6.2 | 14.0 | 16.8 | 20.0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0.7 | (0.6) | (9.6) | (13.8) | (19.3) | 1.5 | 0 | 0 |
| Total Non-Current Liabilities | 46.4 | 38.9 | 31.3 | 36.9 | 38.7 | 12.6 | 9.6 | 18.3 |
| Total Liabilities | 453.9 | 356.4 | 293.4 | 246.4 | 213.9 | 135.3 | 271.5 | 255.8 |
| Stockholders' Equity | ||||||||
| Common Stock | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.1 | 0.1 |
| Retained Earnings | (431.5) | (359.7) | (290.4) | (229.2) | (139.0) | (74.8) | (65.4) | (60.0) |
| Accumulated Other Comprehensive Income | 5.8 | 0.7 | 1.0 | (2.8) | 0.6 | 0.4 | 0.0 | 0 |
| Total Stockholders' Equity | 887.4 | 773.5 | 679.1 | 624.8 | 638.6 | 553.9 | (33.4) | (38.7) |
| Total Liabilities & Equity | 1,341.4 | 1,129.9 | 972.6 | 871.2 | 852.5 | 689.2 | 238.0 | 217.1 |
| Debt Metrics | ||||||||
| Total Debt | 19.1 | 20.2 | 36.2 | 40.8 | 47.3 | 0 | 0 | 0 |
| Net Debt | (57.4) | (30.5) | (48.6) | (4.8) | (21.0) | (164.5) | (39.2) | (178.2) |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | (71.8) | (69.2) | (61.3) | (90.2) | (64.2) | (9.4) | (5.4) | (26.0) |
| Depreciation & Amortization | 24.5 | 21.5 | 15.3 | 14.7 | 14.9 | 3.7 | 2.8 | 1.1 |
| Stock-Based Compensation | 156.7 | 131.1 | 95.2 | 68.7 | 0 | 23.9 | 9.4 | 20.2 |
| Change in Working Capital | 33.5 | 25.1 | 23.3 | 16.8 | 14.8 | 9.4 | 3.6 | 13.3 |
| Other Non-Cash Items | 2.9 | 2.5 | 1.6 | 11.5 | 62.5 | 1.9 | (0.4) | 27.9 |
| Operating Cash Flow | 145.7 | 110.9 | 74.2 | 21.4 | 27.9 | 29.5 | 10.0 | 8.6 |
| Investing Activities | ||||||||
| Capital Expenditure | (3.5) | (3.1) | (2.0) | (4.6) | (4.2) | (3.5) | (1.8) | (3.1) |
| Acquisitions | 0 | (156.7) | 0 | (0.2) | (195.8) | 308.3 | (20.9) | 0 |
| Purchases of Investments | (625.9) | (513.6) | (392.4) | (411.2) | (266.3) | (450.7) | (203.5) | 0 |
| Sales/Maturities of Investments | 477.1 | 508.1 | 340.9 | 362.7 | 341.4 | 142.5 | 76.6 | 0 |
| Other Investing Activities | 0 | 0 | 0 | 0 | 0 | (308.3) | 0 | (1) |
| Investing Cash Flow | (152.3) | (165.4) | (53.5) | (53.3) | (125.5) | (311.8) | (149.6) | (3.1) |
| Financing Activities | ||||||||
| Net Debt Issuance | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Stock Repurchased | 0 | 0 | 0 | 0 | 0 | 0 | (0.2) | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing Activities | 19.2 | 2.1 | 1.7 | (0.1) | (8.5) | 12.7 | 1.0 | 0.0 |
| Financing Cash Flow | 31.2 | 21.2 | 18.4 | 11.0 | 1.4 | 406.1 | 0.7 | 114.5 |
| Cash Position | ||||||||
| Net Change in Cash | 25.9 | (34.1) | 39.2 | (22.9) | (96.2) | 123.8 | (138.8) | 120.0 |
| Cash at Beginning | 50.6 | 84.8 | 45.6 | 68.5 | 164.5 | 40.9 | 179.8 | 59.8 |
| Cash at End | 76.6 | 50.6 | 84.8 | 45.6 | 68.3 | 164.7 | 40.9 | 179.8 |
| Free Cash Flow | 142.3 | 107.8 | 72.2 | 16.8 | 23.7 | 25.9 | 8.2 | 5.5 |
| Key Metrics | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||
| Revenue | 531.8 | 428.5 | 349.9 | 280.0 | 206.7 | 150.8 | 104.7 | 63.5 |
| Gross Profit | 408.4 | 330.2 | 272.8 | 217.8 | 164.9 | 122.4 | 84.7 | 52.8 |
| Operating Income | (89.9) | (89.1) | (75.3) | (89.8) | (68.4) | (14.2) | (6.9) | (26.9) |
| Net Income | (71.8) | (69.2) | (61.3) | (90.2) | (64.2) | (9.4) | (5.4) | (26.0) |
| EPS (Diluted) | -0.62 | -0.63 | -0.59 | -0.91 | -0.68 | -0.20 | -0.07 | -0.32 |
| Balance Sheet | ||||||||
| Cash & Equivalents | 76.6 | 50.6 | 84.8 | 45.6 | 68.3 | 164.5 | 39.2 | 178.2 |
| Total Assets | 1,341.4 | 1,129.9 | 972.6 | 871.2 | 852.5 | 689.2 | 238.0 | 217.1 |
| Total Debt | 19.1 | 20.2 | 36.2 | 40.8 | 47.3 | 0 | 0 | 0 |
| Stockholders' Equity | 887.4 | 773.5 | 679.1 | 624.8 | 638.6 | 553.9 | (33.4) | (38.7) |
| Cash Flow | ||||||||
| Operating Cash Flow | 145.7 | 110.9 | 74.2 | 21.4 | 27.9 | 29.5 | 10.0 | 8.6 |
| Capital Expenditure | (3.5) | (3.1) | (2.0) | (4.6) | (4.2) | (3.5) | (1.8) | (3.1) |
| Free Cash Flow | 142.3 | 107.8 | 72.2 | 16.8 | 23.7 | 25.9 | 8.2 | 5.5 |