NASDAQ$FROG
Jfrog Ltd · Q4 2024 earnings
Q4 2024 earnings · · After market close · Investor relations
Briefing
JFrog reported strong revenue growth in Q4 2024, driven by cloud expansion and platform adoption.
JFrog's revenue grew 19% year-over-year to $116,100,000 in Q4 2024, driven by a 37% YoY increase in cloud revenue. The company achieved a non-GAAP operating margin of 18.0% and generated strong free cash flow of $48,484,000. Despite a GAAP net loss of $23,198,000, JFrog's platform adoption and security investments continued to drive momentum.
- Revenue grew 19% YoY to $116,100,000, driven by cloud and security adoption.
- Cloud revenue increased 37% YoY, now representing 43% of total revenue.
- Non-GAAP EPS was $0.19, with a GAAP net loss of $23,198,000.
- Strong free cash flow of $48,484,000 and cash balance of $522,000,000.
Headline financials
Revenue & EPS history
JFrog · Revenue · Quarterly
$116M
Forward guidance
JFrog expects continued revenue growth in 2025, with cloud and security products driving adoption.
Tailwinds
- Q1 2025 revenue guidance: $116,000,000 - $118,000,000.
- FY 2025 revenue expected to be $499,000,000 - $503,000,000.
- Cloud revenue growth expected to continue driving total revenue.
- Non-GAAP operating income projected to reach $73,000,000 - $75,000,000 in FY 2025.
- Strategic partnership with AWS expected to accelerate cloud adoption.
Headwinds
- GAAP net losses may continue due to high R&D and sales investments.
- Operating margins under pressure despite improving non-GAAP profitability.
- Potential macroeconomic headwinds affecting enterprise IT spending.
- Security products still a small portion of total revenue (3% in Q4 2024).
- Net customer growth slightly down, with total unique customers decreasing from 7,400 to 7,300.
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 2024
+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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