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JFrog Ltd.

FROG NASDAQ Categories PDF
Technology · Software - Application · United States · Updated May 11, 11:00am
$69.69
Price
$8.4B
Market Cap
1,600
Employees
1.02
Beta
Shlomi Ben Haim
CEO
Business Description

JFrog Ltd. provides DevOps platform in the United States. The company's products include JFrog Artifactory, a package repository that allows teams and organizations to store, update, and manage their software packages at any scale; JFrog Pipelines, an integration/continuous delivery tool for automating and orchestrating the movement of software packages; JFrog Xray, which scan JFrog Artifactory; and JFrog Distribution that provides software package distribution with enterprise-grade performance. Its products include JFrog Artifactory Edge that utilizes and leverages metadata from JFrog Artifactory to facilitate the transfer of the incremental changes in software packages from their previous versions; JFrog Mission Control, a platform control panel that provides a view of moving pieces of an organization's software supply chain workflow; JFrog Insight, a DevOps intelligence tool; and JFrog Connect, a device management solution that allows companies to manage software updates and monitor performance across IoT device fleets from anywhere in the world. The company's products also comprise JFrog Pro, JFrog Pro Team, JFrog Pro X, JFrog Enterprise, JFrog Enterprise X, and JFrog Enterprise Plus products that offer ongoing updates, upgrades, and bug fixes, as well as cluster configuration, multi-site replication, and SLA support. It serves technology, financial services, retail, healthcare, and telecommunications organizations. JFrog Ltd. was incorporated in 2008 and is headquartered in Sunnyvale, California.

Business History
Price Overview
Last updated: May 11, 2026 1:52pm (just now)
$67.49
-3.06 (-4.33%)
Day Range
$67.16 – $71.53
52-Week Range
$34.05 – $72.06
50-Day MA
$45.68
200-Day MA
$50.83
Volume
2,112,574.33
Analyst Price Targets
Low $52.00
Consensus $74.40
High $90.00
(55 analysts)
Share Structure
Outstanding 121,157,000.00
Float 105,200,486.00
Free Float 86.8%
High free float — 86.8% of shares trade freely, ~13.2% held by insiders/institutions
Very liquid — most shares trade freely. Low insider ownership can mean less management alignment, but makes large position sizing straightforward.
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
Period Revenue Net Income Net Margin YoY/QoQ
Key Metrics
API Direct from provider CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALC
Stock Price / EPS (Diluted)
-112.41
Stock Price: $69.69
EPS (Diluted): -0.62
P/B Ratio (Price vs net asset value)
API
Stock Price / Book Value Per Share
8.18
Stock Price: $69.69
Total Equity: $887.45M
Shares: 116,201,000
EV/EBITDA (Total value vs operating profit)
API
Enterprise Value / EBITDA
-158.89
Market Cap: $8.44B
Total Debt: $12.46M
Cash: $76.55M
EBITDA: -$65.43M
Enterprise Value (Takeover price (cap + debt - cash))
API
Market Cap + Total Debt - Cash
$7.2B
Market Cap: $8.44B
Total Debt: $12.46M
Cash: $76.55M
Gross Margin (Revenue left after direct costs)
API
Gross Profit / Revenue
76.8%
Gross Profit: $408.39M
Revenue: $531.84M
Operating Margin (Revenue left after all operations)
API
Operating Income / Revenue
-16.9%
Operating Income: -$89.93M
Revenue: $531.84M
Net Margin (Revenue left as actual profit)
API
Net Income / Revenue
-13.5%
Net Income: -$71.82M
Revenue: $531.84M
ROE (Profit from shareholder equity)
API
Net Income / Total Equity
-7.0%
Net Income: -$71.82M
Total Equity: $887.45M
ROIC (Profit from all invested capital)
API
NOPAT / Invested Capital
-8.2%
Operating Income: -$89.93M
Tax Rate: -8.8%
Equity: $887.45M
Total Debt: $12.46M
Cash: $76.55M
Current Ratio (Can it pay short-term bills)
API
Current Assets / Current Liabilities
2.09
Current Assets: $850.75M
Current Liabilities: $407.52M
Debt/Equity (Leverage — debt vs equity)
CALC
Total Debt / Total Equity
0.01
Short-Term Debt: $5.78M
Long-Term Debt: $6.68M
Total Debt: $12.46M
Total Equity: $887.45M
Rev/Share (Top-line per share)
CALC
Revenue / Shares Outstanding
$4.58
Revenue: $531.84M
Shares: 116,201,000
Book Value/Share (Net assets per share)
CALC
(Total Assets - Total Liabilities) / Shares
$7.64
Total Equity: $887.45M
Shares: 116,201,000
FCF/Share (Real cash generated per share)
CALC
(Operating Cash Flow + CapEx) / Shares
$1.22
Operating CF: $145.73M
CapEx: -$3.46M
Shares: 116,201,000
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
API
Last Annual Dividend / Stock Price
0.0%
Last Dividend: N/A
Stock Price: $69.69
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: -$71.82M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares FROG against LLM-researched typical ranges for its industry. One research call per industry, cached indefinitely — every stock in the same industry reuses the same baseline.
Deep Analysis

Pre-flight intelligence scans the company first, then routes to the right analytical methods.

0 Company Classification — What type of company is this?
1 Industry Landscape — Where is the industry headed?
2 Company Momentum — Where is this company trending?
3 Forward Projection — 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a DCF Valuation — Present value of future cash flows
4b Earnings Power Value — Floor value — worth with zero growth
4c Anchored PE — Industry PE adjusted for growth differential
4d Reverse DCF — What growth is the market pricing in?
4e Revenue-Based DCF — For growth/narrative companies (skip if mature earner)
4f Anchored P/S — Price-to-Sales peer comparison (skip if mature earner)
4g Scenario Analysis — Bull / Base / Bear (skip if mature earner)
4h Dividend Discount Model — For dividend/income stocks only
4i Book Value Analysis — For deep value / turnaround stocks only
4j Insider Activity — Are insiders buying or selling?
4f Cash Flow Quality — How trustworthy is the FCF?
4g Debt Maturity Risk — Can it handle its debt?
4h Macro Environment — Rates, market valuation, volatility
4i Sector Intelligence — How does this company compare within its sector?
4j Revenue Confidence — How reliable is the growth projection?
4k Sensitivity Analysis — How fragile is the fair value estimate?
4l Sector Demand Cycle — Is the sector in a boom, steady state, or contraction?
5 AI Investigation — Adaptive research engine (Claude)
5b Thesis Evaluation — What does the market believe? (narrative/platform stocks only)
6 Valuation Synthesis — Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Metric 2021 2022 2023 2024 2025
Revenue $206.7M $280.0M $349.9M $428.5M $531.8M
Cost of Revenue $41.8M $62.3M $77.0M $98.3M $123.5M
Gross Profit $164.9M $217.8M $272.8M $330.2M $408.4M
Operating Expenses $233.2M $307.6M $348.4M $421.3M $498.3M
Operating Income -$68.4M -$89.8M -$75.5M -$91.1M -$89.9M
Net Income -$64.2M -$90.2M -$61.3M -$69.2M -$71.8M
EBITDA -$59.6M -$75.2M -$60.2M -$69.6M -$65.4M
EPS $-0.68 $-0.91 $-0.59 $-0.63 $-0.62
EPS (Diluted) — — — — —
Balance Sheet (Annual)
Metric 2021 2022 2023 2024 2025
Cash & Equivalents $68.3M $45.6M $84.8M $50.6M $76.6M
Total Current Assets $499.0M $532.0M $645.8M $649.2M $850.8M
Total Assets $852.5M $871.2M $972.6M $1.1B $1.3B
Current Liabilities $175.3M $209.6M $262.2M $317.5M $407.5M
Long-Term Debt $20.0M $16.8M $14.0M $6.2M $6.7M
Total Liabilities $213.9M $246.4M $293.4M $356.4M $453.9M
Total Equity $638.6M $624.8M $679.1M $773.5M $887.4M
Retained Earnings -$139.0M -$229.2M -$290.4M -$359.7M -$431.5M
Cash Flow (Annual)
Metric 2021 2022 2023 2024 2025
Operating Cash Flow $27.9M $21.4M $74.2M $110.9M $145.7M
Capital Expenditure -$4.2M -$4.6M -$2.0M -$3.1M -$3.5M
Free Cash Flow $23.7M $16.8M $72.2M $107.8M $142.3M
Acquisitions (net) -$195.8M $-179,000 $0 -$156.7M $0
Debt Repayment — — — — —
Dividends Paid — — — — —
Stock Buybacks $0 $0 $0 $0 $0
Net Change in Cash -$96.2M -$22.9M $39.2M -$34.2M $25.9M
Analyst Estimates (Annual)
Metric 2025 2026 2027 2028
Revenue $524.6M
$524.1M – $525.8M
 $632.5M
$631.5M – $634.0M
 $742.5M
$727.8M – $766.6M
 $920.4M
$912.6M – $928.3M
EBITDA $33.0M
$33.0M – $33.1M
 $39.8M
$39.8M – $39.9M
 $46.8M
$45.8M – $48.3M
 $58.0M
$57.5M – $58.5M
Net Income $92.0M
$90.9M – $93.2M
 $111.2M
$109.4M – $113.1M
 $134.2M
$120.4M – $148.1M
 -$6.7M
-$530.6M – $865.1M
EPS — — — —
Growth Trends (YoY %)
Metric 2022 2023 2024 2025
Revenue Growth +35.5% +24.9% +22.5% +24.1%
Gross Profit Growth +32.1% +25.3% +21.0% +23.7%
Operating Income Growth -31.4% +15.9% -20.6% +1.3%
Net Income Growth -40.5% +32.1% -13.0% -3.7%
EBITDA Growth -26.1% +19.9% -15.6% +6.0%
Insider Trading (Recent)
Date Insider Type Shares Price Value
2026-05-06 Shlomi Ben Haim S-Sale 21,954.00 $52.19 $1.1M
2026-05-06 Shlomi Ben Haim S-Sale 3,046.00 $52.83 $160,920
2026-05-01 ZWARENSTEIN BARRY S-Sale 1,100.00 $49.00 $53,900
2026-05-01 ZWARENSTEIN BARRY S-Sale 150.00 $49.00 $7,350
2026-04-10 Landman Yoav S-Sale 5,927.00 $42.49 $251,838
2026-04-10 Landman Yoav S-Sale 8,973.00 $43.10 $386,736
2026-04-10 Landman Yoav S-Sale 100.00 $44.37 $4,437
2026-04-07 Shlomi Ben Haim S-Sale 20,419.00 $48.76 $995,630
2026-04-07 Shlomi Ben Haim S-Sale 4,581.00 $49.39 $226,256
2026-04-01 Simon Frederic S-Sale 12,100.00 $47.34 $572,814
2026-04-01 Simon Frederic S-Sale 24,939.00 $48.28 $1.2M
2026-04-01 Simon Frederic S-Sale 17,961.00 $49.10 $881,885
2026-04-02 Simon Frederic S-Sale 25,000.00 $50.35 $1.3M
2026-03-26 ZWARENSTEIN BARRY S-Sale 1,250.00 $49.00 $61,250
2026-03-25 Grabscheid Eduard S-Sale 4,243.00 $45.00 $190,935
2026-03-25 Grabscheid Eduard S-Sale 4,800.00 $45.00 $216,000
2026-03-25 Sela Yossi S-Sale 25,000.00 $45.20 $1.1M
2026-03-25 Shlomi Ben Haim S-Sale 25,000.00 $45.07 $1.1M
2026-03-25 Simon Frederic S-Sale 10,000.00 $46.02 $460,200
2026-03-25 Simon Frederic S-Sale 400.00 $48.00 $19,200
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My Notes personal — only you see this
Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.193 · 1946f027 · 2026-05-08 18:57:27