NASDAQ$FROG
Jfrog Ltd · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
JFrog exceeded guidance with solid performance, driven by enterprise adoption of its hybrid Software Supply Chain Platform and comprehensive security solutions.
JFrog reported a strong Q3 2023, exceeding the high end of its guidance. Total revenue reached $88.6 million, a 23% increase year-over-year, with cloud revenue growing by 46%. The company saw an increase in customers with ARR over $1 million, reaching 30, up 67% year-over-year.
- Total revenue was $88.6 million, up 23% year-over-year.
- Cloud revenue increased by 46% year-over-year, representing 35% of total revenue.
- Customers with ARR over $1 million grew to 30, a 67% increase year-over-year.
- Net Dollar Retention rate for the trailing four quarters was 119%.
Headline financials
Revenue & EPS history
JFrog · Revenue · Quarterly
$88.6M
Forward guidance
JFrog anticipates revenue between $92.5 million and $93.5 million and non-GAAP operating income between $10.0 million and $11.0 million for Q4 2023. The company projects revenue between $345.1 million to $346.1 million and non-GAAP operating income between $32.8 million and $33.8 million for the full fiscal year 2023.
Tailwinds
- Revenue between $92.5 million and $93.5 million
- Non-GAAP operating income between $10.0 million and $11.0 million
- Non-GAAP net income per diluted share between $0.12 and $0.13, assuming approximately 111 million weighted average diluted shares outstanding
- Revenue between $345.1 million to $346.1 million
- Non-GAAP operating income between $32.8 million and $33.8 million
Headwinds
- Non-GAAP net income per diluted share between $0.44 and $0.45, assuming approximately 109 million weighted average diluted shares outstanding
- Risks associated with managing rapid growth
- History of losses
- Limited operating history
- Ability to retain and upgrade existing customers
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2023
+0.3%
Avg return
Earnings day
-1.8%
Avg return
5 days after
-3.5%
Avg return
30 days after
39%
9 / 23 earnings
Positive
+33.3%
Q4 2023
Best reaction
-27.7%
Q2 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +23.9% | -7.9% | +21.4% | |
| Q4 2025 | -3.0% | -10.7% | -22.9% | |
| Q3 2025 | +27.0% | +30.5% | +37.1% | |
| Q1 2025 | +1.2% | -9.1% | +7.9% | |
| Q4 2024 | +5.5% | +5.6% | -11.0% | |
| Q3 2024 | -2.0% | -3.6% | -1.5% | |
| Q2 2024 | -27.7% | -24.2% | -19.9% | |
| Q1 2024 | -19.0% | -18.3% | -20.3% | |
| Q4 2023 | +33.3% | +25.4% | +18.0% | |
| Q3 2023 | +16.8% | +22.1% | +25.8% | |
| Q2 2023 | -1.0% | -1.2% | +0.3% | |
| Q1 2023 | +12.0% | +17.7% | +31.4% | |
| Q4 2022 | -4.0% | -3.9% | -24.3% | |
| Q3 2022 | -8.3% | -16.7% | -8.7% | |
| Q2 2022 | +7.4% | +9.0% | -13.7% | |
| Q1 2022 | -9.1% | -9.5% | -8.6% | |
| Q4 2021 | -7.9% | -2.5% | -15.0% | |
| Q3 2021 | +12.7% | +11.6% | -17.6% | |
| Q2 2020 | -16.0% | -16.1% | -17.8% | |
| Q2 2021 | -7.6% | -12.9% | -12.4% | |
| Q1 2021 | -17.4% | -15.4% | +1.5% | |
| Q4 2020 | -0.2% | +5.0% | -24.3% | |
| Q3 2020 | -9.5% | -16.2% | -5.1% | |
| Q1 2020 | — | — | — | |
| Q4 2019 | — | — | — | |
| Q3 2019 | — | — | — | |
| Q2 2019 | — | — | — | |
| Q1 2019 | — | — | — | |
| Q4 2018 | — | — | — | |
| Q3 2018 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro