NASDAQ$FROG
Jfrog Ltd · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
JFrog's Q4 2023 earnings showcased strong performance with significant cloud revenue growth and increased customer adoption of the Enterprise+ subscription.
JFrog reported a 27% year-over-year increase in revenue for Q4 2023, reaching $97.3 million. Cloud revenue grew by 59% year-over-year, representing 37% of total revenue. The company saw a 95% increase in customers with ARR greater than $1 million, reaching 37.
- Total revenue for Q4 2023 was $97.3 million, a 27% increase year-over-year.
- Cloud revenue increased by 59% year-over-year and represented 37% of total revenue.
- Customers with ARR greater than $1 million reached 37, up 95% year-over-year.
- Non-GAAP diluted earnings per share was $0.19.
Headline financials
Revenue & EPS history
JFrog · Revenue · Quarterly
$97.3M
Forward guidance
JFrog anticipates revenue between $98.0 million and $99.0 million, non-GAAP operating income between $12.5 million and $13.5 million, and non-GAAP net income per diluted share between $0.13 and $0.15 for the first quarter of 2024. For the full fiscal year 2024, the company expects revenue between $424.0 million and $428.0 million, non-GAAP operating income between $56.0 million and $58.0 million, and non-GAAP net income per diluted share between $0.58 and $0.60.
Tailwinds
- Revenue between $98.0 million and $99.0 million for Q1 2024.
- Non-GAAP operating income between $12.5 million and $13.5 million for Q1 2024.
- Non-GAAP net income per diluted share between $0.13 and $0.15 for Q1 2024.
- Revenue between $424.0 million to $428.0 million for fiscal year 2024.
- Non-GAAP operating income between $56.0 million and $58.0 million for fiscal year 2024.
Headwinds
- Uncertainty regarding reconciling items such as share-based compensation.
- Potential variability of reconciling items that may be incurred in the future.
- Impact of share-based compensation may be significant.
- General market conditions.
- Economic business conditions.
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 Q4 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 | — | — | — |
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