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Jfrog Ltd (FROG) stock

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NASDAQ: FROG Nasdaq Application Software Next results ~November 5, 2026

C Fundamentals grade

Jfrog Ltd is a US-listed company in the application software industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$28

Revenue-to-maturity model

Base case. Range ~$24–$33. Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable.

Price vs value

No Buy/Hold/Sell rating is issued: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Jfrog Ltd valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 10 selling0 purchases and 230 sales by directors and officers, last 12 monthsInsider trades
  • Funds252 adding, 162 cuttingOf 71 active managers that changed their stake, 38 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Jfrog files

Where Jfrog stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $600m, up 26.4% on a year earlier, faster than the 25.0% growth a quarter earlier. That growth ranks 13 of 103 among the application software companies we cover. Free-cash-flow margin held at 28.3%. Operating margin widened to -11.5% from -22.0%. The diluted share count is up 5.9% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 2 of our 2 financial-health checks. Our revenue-to-maturity cash-flow model value is $28.34 a share, against a share price of $98.00.

Source: 10-Q filed August 7, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 5, 2026 (estimated)

Jfrog Ltd's trailing-twelve-month revenue grew 26.4% year on year, with a free-cash-flow margin of 28.3%. Where it stands out: revenue growth of 26.4% ranks 33 of 184 application software companies we cover. Where it lags: stock pay as % of revenue of 26.8% ranks 156 of 177 application software companies we cover.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 22.3% while net income grew 48.9%: a 27pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 26.4% over the last 12 months, against a median of 12.0% for application software companies we cover.
  • Margins widening. Operating margin is up 10.4 points on a year ago.
  • Strong cash generation. 28.3% of revenue turned into free cash flow, against a median of 15.2% for application software companies we cover.
  • Net cash. Cash exceeds long-term debt by $0.1bn.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Results due soon. Results are expected around 5 November; the share price can move sharply on the day.
  • Loss-making. Operating margin is -11.5%: costs exceed revenue.
  • Heavy stock-based pay. Stock pay equals 26.8% of revenue, against a median of 9.3% for application software companies we cover: a real cost that cash-flow figures leave out.
  • Share dilution. Diluted shares rose 5.9% in a year.
  • High sales multiple. The shares trade at 17 times revenue while operating margins remain thin.
  • Volatile shares. Over the past year the shares showed annualised volatility of 76% and a beta of 1.5 against the S&P 500.

Latest results: FY2026 Q2

Filed August 7, 2026
Earnings per share
$0.27 against an average estimate of $0.24: beat by 12.4%
Revenue
$164m, up 28.7% on a year earlier
Share reaction
+5.9% in the first session after the results on August 6, 2026, against +0.5% for the S&P 500
Guidance given
revenue $164m to $166m (Third Quarter 2026); non-GAAP operating income $27m to $29m (Third Quarter 2026)
Next report
November 5, 2026; average EPS estimate $0.23

Jfrog's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-9.8%
  • 1 week-14.6%
  • 1 month-10.9%
  • This year+36.3%
  • 1 year+79.3%
  • 5 years+145.8%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$600M
Operating margin
-11.5%
Net margin
-7.3%
EPS (TTM, diluted)
$-0.37

Growth

Revenue growth
+26.4%
Change in growth rate
+1.3 pts
Share count change
+5.9%

Cash

Free cash flow (TTM)
$170M
FCF margin
28.3%
Stock pay % of revenue
26.8%

Earnings

Last results
August 6, 2026
Next results (est.)
November 5, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Insider trade
  2. Insider trade
  3. Insider trade
  4. Insider trade
  5. Insider trade
  6. Results
  7. Guidance

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Jfrog Ltd valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Valuation models

We value Jfrog Ltd as an operating company, with every model that fits that kind of business. Cost of equity 10.7%: the 10-year Treasury yield (4.9%) plus a beta of 1.28 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$11 ~$8.9–$12 Left out: out of range vs price (0.12x)
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$16 ~$13–$26 Left out: out of range vs price (0.19x)
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: the model gives no positive value
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Forward price-to-sales vs peers Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$1.8 ~$12–$33 Left out: out of range vs price (0.02x)
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. ~$28 ~$24–$33 Included
Combined value Weighted average of the models that apply: the primary model (growth cash-flow model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$28 ~$24–$33 1 model

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Jfrog Ltd with Application Software in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 202020212022202320242025Now
Share price$62.83$29.70$21.33$34.61$29.41$62.46$85.11
Market value$5.8bn$2.8bn$2.1bn$3.6bn$3.2bn$7.3bn$10.2bn
+ Net debt (− = net cash)−$164m−$68m−$46m−$85m−$50m−$76m−$97m
Enterprise value$5.7bn$2.7bn$2.1bn$3.5bn$3.2bn$7.2bn$10.1bn
Multiples
Price / sales 38.7x13.6x7.6x10.2x7.5x13.6x17.0x
Price / earnings ———————
Price / free cash flow n/m118.9x123.8x49.5x29.9x51.0x59.9x
EV / EBITDA ———————

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

60 /100

Moderate moat

How hard Jfrog's competitive advantage looks for rivals to wear away, judged from 7 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 10 / 20

    Cash operating profit has been a median 8.3% of total assets over 6 years.

  • Pricing power 20 / 20

    Gross margin has been a median 78.1%, moving by 1.8 percentage points (standard deviation) across 7 years.

  • Durability 10 / 20

    Operating margin has been a median -21.8%; its worst year was -34.8%.

  • Cash conversion 20 / 20

    Free cash flow was positive in 6 of 6 years, at a median 25.0% of revenue.

AI disruption exposure: High. In this industry, the core product is information work that AI systems increasingly perform. The score above includes a 15-point deduction for that exposure (74 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 5, 2026, after the close. Analysts expect revenue of $166m and EPS of $0.23 (range $0.22 to $0.26) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $0.98 +20% $651m +22%
Next $1.15 +17% $768m +18%

Next year's EPS estimate has moved +2.3% in 90 days, across 23 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +2.8% on 90 days ago. In the last 30 days, 18 analysts raised Jfrog Ltd's forecast and 0 cut it.

Consensus EPS forecast Jfrog Ltd, last 90 days
$0.95 $1.00 $1.05 $1.10 $1.15 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $0.95 Current fiscal year, 60 days ago: $0.98 Current fiscal year, 30 days ago: $0.98 Current fiscal year, 7 days ago: $0.98 Current fiscal year, Now: $0.98 $0.98 Next fiscal year, 90 days ago: $1.12 Next fiscal year, 60 days ago: $1.15 Next fiscal year, 30 days ago: $1.15 Next fiscal year, 7 days ago: $1.15 Next fiscal year, Now: $1.15 $1.15

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $0.95$1.12
60 days ago $0.98$1.15
30 days ago $0.98$1.15
7 days ago $0.98$1.15
Now $0.98$1.15

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.24 $0.27 +12.4%
Mar 2026 $0.21 $0.27 +26.6%
Dec 2025 $0.19 $0.22 +16.2%
Sept 2025 $0.16 $0.22 +34.4%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 6, 2026
  • Revenue Fiscal Year 2026 $648m to $652m
    “Revenue between $648 million to $652 million” source
  • Revenue Third Quarter 2026 $164m to $166m
    “Revenue between $164 million and $166 million” source
  • Non-GAAP net income per diluted share Fiscal Year 2026 $0.96 to $1.00 Non-GAAP
    “Non-GAAP net income per diluted share between $0.96 and $1.00, assuming approximately 129 million weighted average diluted shares outstanding” source
  • Non-GAAP net income per diluted share Third Quarter 2026 $0.22 to $0.24 Non-GAAP
    “Non-GAAP net income per diluted share between $0.22 and $0.24, assuming approximately 130 million weighted average diluted shares outstanding” source
  • Non-GAAP operating income Fiscal Year 2026 $116m to $120m Non-GAAP
    “Non-GAAP operating income between $116 million and $120 million” source
  • Non-GAAP operating income Third Quarter 2026 $27m to $29m Non-GAAP
    “Non-GAAP operating income between $27 million and $29 million” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

Analyst recommendations

23 analysts, Oct 2026
Buy2191%
Hold29%
Sell00%

Monthly trend

  1. Oct 2026516223
  2. Sep 2026516223
  3. Aug 2026516223
  4. Jul 2026416222

Counts of recommendations published by analysts covering Jfrog Ltd, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
6.6%
of tradable shares
Days to cover
4.42
at average volume
Short interest, 1 month
−0%
to October 15, 2026
Held by institutions
95%
of shares
Held by insiders
9.9%
of shares
Employees
1,800
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +79.3%

$47.48 on October 31, 2025 to $85.11

ThenNowEffect
Revenue (last 12 months) $475m $600m +26.4%
P/S multiple 11.3x 17.0x +50.2%
Share count 113m 120m −5.6%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years +217.2%

$26.83 on November 3, 2023 to $85.11

ThenNowEffect
Revenue (last 12 months) $313m $600m +92.0%
P/S multiple 8.7x 17.0x +95.6%
Share count 101m 120m −15.5%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
FROG−53%−28%+62%−15%+112%+36%
Industry peers (median)−7%−50%+19%+2%−21%−14%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
FROG17%42%50%50%75%36%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
FROG−59%−46%−36%−48%−33%−45%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since September 16, 2020: 80% from September 28, 2020 to May 11, 2022. Getting back needed a 410% gain, reached on June 1, 2026, 1482 days after the low.

Price behaviour

52-week range
$34.75 – $104.03
From 52-week high
−18.2%
vs 50-day average
−9.4%
vs 200-day average
+18.4%
Volatility (1 year)
76%
Beta vs S&P 500
1.47

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
8 up, 4 down
typical move ±15.9%
After a week
8 up, 4 down
typical move ±17.1%
After a month
7 up, 5 down
typical move ±21.3%
Results releasedNext dayS&P 500 next day5 days21 days
August 6, 2026 +5.9% +0.5% +12.6% +3.6%
May 7, 2026 +31.1% +0.5% +20.9% +59.2%
February 12, 2026 −0.6% −1.5% −27.4% −17.1%
November 6, 2025 +30.1% −1.0% +29.2% +40.5%
August 7, 2025 +3.8% +0.7% +1.7% +20.0%
May 8, 2025 +12.9% +0.6% +24.9% +22.8%
February 13, 2025 +7.8% +1.1% +4.3% −7.0%
November 7, 2024 −2.0% +1.2% −0.7% −2.5%
August 7, 2024 −27.7% +1.6% −24.2% −19.9%
May 9, 2024 −19.0% +0.7% −19.3% −19.5%
February 14, 2024 +33.3% +1.6% +22.5% +18.0%
November 1, 2023 +16.8% +3.0% +17.3% +25.8%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Jfrog Ltd in five measures

Fundamentals grade C
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Jfrog Ltd
$300M $400M $500M $600M FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $329.2M Revenue (TTM), FY23 Q4: $349.9M Revenue (TTM), FY24 Q1: $370.4M Revenue (TTM), FY24 Q2: $389.3M Revenue (TTM), FY24 Q3: $409.7M Revenue (TTM), FY24 Q4: $428.5M Revenue (TTM), FY25 Q1: $450.6M Revenue (TTM), FY25 Q2: $474.8M Revenue (TTM), FY25 Q3: $502.6M Revenue (TTM), FY25 Q4: $531.8M Revenue (TTM), FY26 Q1: $563.4M Revenue (TTM), FY26 Q2: $600M $600M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $329.2M
FY23 Q4 $349.9M
FY24 Q1 $370.4M
FY24 Q2 $389.3M
FY24 Q3 $409.7M
FY24 Q4 $428.5M
FY25 Q1 $450.6M
FY25 Q2 $474.8M
FY25 Q3 $502.6M
FY25 Q4 $531.8M
FY26 Q1 $563.4M
FY26 Q2 $600M
Revenue growth, TTM YoY Jfrog Ltd
20% 22% 24% 26% 28% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 25.3% Revenue growth, TTM YoY, FY23 Q4: 24.9% Revenue growth, TTM YoY, FY24 Q1: 25.1% Revenue growth, TTM YoY, FY24 Q2: 24.5% Revenue growth, TTM YoY, FY24 Q3: 24.5% Revenue growth, TTM YoY, FY24 Q4: 22.5% Revenue growth, TTM YoY, FY25 Q1: 21.7% Revenue growth, TTM YoY, FY25 Q2: 22.0% Revenue growth, TTM YoY, FY25 Q3: 22.7% Revenue growth, TTM YoY, FY25 Q4: 24.1% Revenue growth, TTM YoY, FY26 Q1: 25.0% Revenue growth, TTM YoY, FY26 Q2: 26.4% 26.4%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 25.3%
FY23 Q4 24.9%
FY24 Q1 25.1%
FY24 Q2 24.5%
FY24 Q3 24.5%
FY24 Q4 22.5%
FY25 Q1 21.7%
FY25 Q2 22.0%
FY25 Q3 22.7%
FY25 Q4 24.1%
FY26 Q1 25.0%
FY26 Q2 26.4%
Operating margin (TTM) Jfrog Ltd
-30% -20% -10% 0% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: -25.8% Operating margin (TTM), FY23 Q4: -21.6% Operating margin (TTM), FY24 Q1: -18.6% Operating margin (TTM), FY24 Q2: -17.8% Operating margin (TTM), FY24 Q3: -19.8% Operating margin (TTM), FY24 Q4: -21.3% Operating margin (TTM), FY25 Q1: -21.6% Operating margin (TTM), FY25 Q2: -22.0% Operating margin (TTM), FY25 Q3: -19.1% Operating margin (TTM), FY25 Q4: -17.3% Operating margin (TTM), FY26 Q1: -14.5% Operating margin (TTM), FY26 Q2: -11.5% -11.5%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 -25.8%
FY23 Q4 -21.6%
FY24 Q1 -18.6%
FY24 Q2 -17.8%
FY24 Q3 -19.8%
FY24 Q4 -21.3%
FY25 Q1 -21.6%
FY25 Q2 -22.0%
FY25 Q3 -19.1%
FY25 Q4 -17.3%
FY26 Q1 -14.5%
FY26 Q2 -11.5%
FCF margin (TTM) Jfrog Ltd
10% 15% 20% 25% 30% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 14.2% FCF margin (TTM), FY23 Q4: 20.6% FCF margin (TTM), FY24 Q1: 24.4% FCF margin (TTM), FY24 Q2: 23.1% FCF margin (TTM), FY24 Q3: 22.3% FCF margin (TTM), FY24 Q4: 25.2% FCF margin (TTM), FY25 Q1: 26.5% FCF margin (TTM), FY25 Q2: 29.2% FCF margin (TTM), FY25 Q3: 28.0% FCF margin (TTM), FY25 Q4: 26.8% FCF margin (TTM), FY26 Q1: 26.9% FCF margin (TTM), FY26 Q2: 28.3% 28.3%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 14.2%
FY23 Q4 20.6%
FY24 Q1 24.4%
FY24 Q2 23.1%
FY24 Q3 22.3%
FY24 Q4 25.2%
FY25 Q1 26.5%
FY25 Q2 29.2%
FY25 Q3 28.0%
FY25 Q4 26.8%
FY26 Q1 26.9%
FY26 Q2 28.3%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 64 105 151 207 280 350 428 532 600
Gross profit 53 85 122 165 218 273 330 408 467
EBITDA −26 −4 −11 −60 −75 −60 −70 −67 −56
Operating income −27 −7 −14 −68 −90 −76 −91 −92 −69
Net income −26 −5 −9 −64 −90 −61 −69 −72 −44
Diluted EPS −$0.50 −$0.10 −$0.10 −$0.68 −$0.91 −$0.59 −$0.63 −$0.62 −$0.37
Growth (year on year)
Revenue — +64.8% +44.0% +37.0% +35.5% +24.9% +22.5% +24.1% +26.4%
Margins
Gross margin 83.1% 80.9% 81.1% 79.8% 77.8% 78.0% 77.1% 76.8% 77.9%
EBITDA margin −40.5% −3.9% −7.0% −28.8% −26.8% −17.2% −16.3% −12.7% −9.4%
Operating margin −42.3% −6.6% −9.4% −33.1% −32.1% −21.6% −21.3% −17.3% −11.5%
Net margin −40.9% −5.2% −6.2% −31.1% −32.2% −17.5% −16.2% −13.5% −7.3%
Free-cash-flow margin 10.2% 7.8% 17.2% 11.5% 6.1% 20.6% 25.2% 26.8% 28.3%
Cash flow
Cash from operations 9 10 29 28 21 74 111 146 176
Capital spending 2 2 4 4 4 2 3 3 7
Free cash flow 6 8 26 24 17 72 108 142 170
Stock-based pay 20 9 24 57 69 95 131 157 161
Free cash flow after stock pay −14 −1 2 −33 −52 −23 −23 −14 9
Balance sheet
Cash 178 39 164 68 46 85 50 76 97
Total debt 0 0 0 0 0 0 0 0 0
Net debt (negative = net cash) −178 −39 −164 −68 −46 −85 −50 −76 −97
Diluted shares 52m 54m 93m 95m 99m 103m 110m 116m 120m

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 2 checks passed · June 30, 2026
What it owns · $1.5bn
Short-term assets $1.0bnLonger-term assets $472m
What it owes, and who funded it · $1.5bn
Short-term liabilities $477mLonger-term liabilities $52mShareholders' equity $961m
  • Short-term assets cover short-term liabilities $1.0bn of assets due within a year against $477m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $1.0bn short-term assets against $52m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Jfrog Ltd's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+5.9%
year over year
R&D spending
35.0%
of revenue
Days sales outstanding
83 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in application software
Last 12 months unless stated FROG INTA APPS EVCM YB BTDR Median
Revenue, last 12 months $600m $600m $600m $598m $609m $620m $482m
Revenue growth, last 12 months 26.4% 14.4% 19.2% 4.2% 33.3% 77.3% 12.0%
Revenue growth, 3-year average 24.3% 17.2% −1.3% −2.8% — — 11.1%
Revenue growth, latest quarter 28.7% 16.0% 26.8% 2.7% — — 11.9%
Gross margin 77.9% 76.6% 57.3% — 96.2% 9.8% 69.2%
Operating margin −11.5% −4.5% 10.3% 9.9% — 25.8% 1.1%
Operating margin, 3-year average −17.1% −5.6% −24.3% 6.6% — — −0.8%
Net margin −7.3% −4.7% −5.8% 5.7% 29.9% 10.6% 2.1%
Cash from operations / revenue 29.4% 26.9% 8.5% 17.9% 34.2% — 18.2%
Free-cash-flow margin 28.3% 26.6% 0.9% 17.4% 33.8% — 15.0%
Free-cash-flow margin, 3-year average 26.9% 21.8% −3.8% 20.2% — — 16.2%
Stock pay / revenue 26.8% 21.0% 2.1% 4.1% 1.7% 6.2% 9.3%
Change in share count 5.9% −2.5% 11.1% −1.6% 5.4% 70.5% 2.2%

Median of all 185 companies we cover in application software. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

185 application software companies
Measure Company Peer median Rank
Revenue growth Growth 26.4% 12.0% 33 of 184
Change in growth rate Growth +1.3pp +0.2pp 67 of 184
Gross margin Profitability 77.9% 69.8% 42 of 160
Operating margin Profitability -11.5% 1.1% 124 of 181
Net margin Profitability -7.3% 2.1% 117 of 185
Free-cash-flow margin Cash generation 28.3% 15.2% 36 of 180
Stock pay as % of revenue Cash generation 26.8% 9.3% 156 of 177
Change in share count Balance sheet 5.9% 1.7% 110 of 163
Days sales outstanding Balance sheet 83 days 57 days 122 of 162

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue YoY
Subscription Self-Managed and Saa S $503M ▲ 23.6%
Selfmanaged Subscription $289M ▲ 10.8%
Subscription $259M ▲ 8.6%
Saas $243M ▲ 44.9%
Licenses $29M ▲ 34.6%

These categories overlap or exclude eliminations, so shares aren't shown.

Geography
Region Revenue Share YoY
United States $316M 59.5% ▲ 22.2%
Rest of World $199M 37.4% ▲ 26.5%
Israel $16.4M 3.1% ▲ 33.8%

From Jfrog Ltd's 10-K filed February 13, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$10.4B
Institutions reporting
409
Shares held vs prior quarter
▲ 11.3%
Positions opened / closed
133 / 47

Top buyers and sellers, Q2 2026: 252 institutions bought and 162 sold ; the biggest buyer was Blackrock, Inc (+6.2M shares) and the biggest seller Whale Rock Capital Management LLC (−1.6M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $713M 7.8M 6.9% ▲ 363.6%
Vanguard Portfolio Management LLC $576M 6.3M 5.6% ▲ 3.1%
Jpmorgan Chase & Co $467M 5.2M 4.5% ▲ 65.8%
Whale Rock Capital Management LLC $405M 4.5M 3.9% ▼ 25.9%
Price T Rowe Associates Inc $401M 4.4M 3.9% ▲ 118.6%
Optimus Prime Fund Management Co., Ltd. $363M 4.0M 3.5% ▼ 15.1%
BNP Paribas Asset Management Holding S.A. $349M 3.8M 3.4% ▼ 12.9%
First Trust Advisors LP $339M 3.7M 3.3% ▲ 11.0%
Vanguard Capital Management LLC $314M 3.5M 3.0% ▲ 2.3%
FMR LLC $290M 3.2M 2.8% ▲ 42.6%
Wasatch Advisors LP $261M 2.9M 2.5% ▼ 30.9%
Massachusetts Financial Services Co $252M 2.8M 2.4% ▲ 91.0%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Jfrog Ltd's complete shareholder register. Values are as reported by the filers ; 2 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $407M 230 trades by 10 insiders · 61% under pre-set plans
Net ▼ $407M net selling
Insider Date Trade Shares Price Value
Zwarenstein Barry Director October 20, 2026 Sell pre-set plan 1,250 $90.10 $112,625
Shlomi Ben Haim CHIEF EXECUTIVE OFFICER October 7, 2026 Sell pre-set plan 200 $98.76 $19,752
Shlomi Ben Haim CHIEF EXECUTIVE OFFICER October 7, 2026 Sell pre-set plan 6,470 $97.99 $633,995
Shlomi Ben Haim CHIEF EXECUTIVE OFFICER October 7, 2026 Sell pre-set plan 8,330 $97.13 $809,093
Landman Yoav CHIEF TECHNOLOGY OFFICER October 5, 2026 Sell pre-set plan 45,000 $97.27 $4.4M
Simon Frederic Director October 1, 2026 Sell pre-set plan 200 $99.75 $19,950
Simon Frederic Director October 1, 2026 Sell pre-set plan 4,584 $99.14 $454,458
Simon Frederic Director October 1, 2026 Sell pre-set plan 21,539 $97.95 $2.1M
Simon Frederic Director October 1, 2026 Sell pre-set plan 66,393 $97.23 $6.5M
Simon Frederic Director October 1, 2026 Sell pre-set plan 27,284 $96.37 $2.6M
Zwarenstein Barry Director September 14, 2026 Sell pre-set plan 1,250 $88.38 $110,475
Notman Tali CHIEF REVENUE OFFICER September 8, 2026 Sell pre-set plan 17,949 $86.94 $1.6M

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around November 5, 2026 estimated from the company's past filing pattern, not announced

  • August 6, 2026
  • May 7, 2026
  • February 12, 2026
  • November 6, 2025
  • August 7, 2025
  • May 8, 2025

Recent SEC filings

Data status

When each part of this page on Jfrog Ltd was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Jfrog Ltd in brief

What does Jfrog Ltd do?
Jfrog Ltd is a US-listed company in the application software industry. Its financial year ends in December.
What is Jfrog Ltd's stock ticker?
Jfrog Ltd trades under the ticker FROG on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Jfrog Ltd's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Jfrog Ltd reported revenue of $600M, 26.4% higher than a year earlier, according to its SEC filings.
What is Jfrog Ltd's free cash flow?
Jfrog Ltd's free-cash-flow margin is 28.3% of revenue over the trailing twelve months, ranking 36 of the 180 application software companies we cover.
Who are Jfrog Ltd's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Portfolio Management LLC and Jpmorgan Chase & Co. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Jfrog Ltd's market cap?
On November 2, 2026, Jfrog Ltd's market capitalisation was about $10.2B and net debt of -$96.7M. Market figures come from third-party market data and may be delayed.
Who are Jfrog Ltd's competitors?
In our Application Software peer group, the companies closest to Jfrog Ltd are Intapp, Inc., Digital Turbine, Inc., Evercommerce Inc., Yuanbao Inc. and Bitdeer Technologies Group. The side-by-side comparison below sets their revenue, margins and growth against Jfrog Ltd's.
Are insiders buying or selling Jfrog Ltd stock?
Over the last 12 months, Jfrog Ltd's directors and officers reported 0 open-market purchases and 230 sales on Form 4. The insider trading page charts every trade.
When is Jfrog Ltd's next earnings date?
Around November 5, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Jfrog Ltd announces its own schedule.