GICS Sector : Technology
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.
JFrog Ltd.'s fiscal year 2025 financial results showcased a robust performance, with total revenue reaching $531.8 million, marking a 24% year-over-year growth. Cloud revenue was a significant contributor, growing 45% year over year to $243.3 million. The company's fourth-quarter revenue also demonstrated strong growth, with total revenues equaling $145.3 million, up 25% year over year. The actual EPS came out at $0.22, beating estimates of $0.19. The company's free cash flow margin stood at 27%, with $142.2 million in free cash flow generated during the year.
Publication Date: Feb -14
The company's security core products, excluding JFrog Xray, emerged as a meaningful growth engine, with JFrog Advanced Security and JFrog Curation comprising over 10% of the total ARR as of December 31, 2025. Cloud momentum was supported by focused investments in service performance and availability, and the consumption-based pricing model aligned with market standards. The number of customers spending more than $100,000 annually grew to 1,168, representing a 50% year-over-year growth.
For 2026, JFrog expects continued durable growth in the cloud, driven by customers expanding annual commitments and increasing demand for its security core products. The company anticipates baseline cloud growth to be in the range of 30% to 32%. The net dollar retention rate is expected to be 117% for 2026. Revenue is expected to be in the range of $623 million to $628 million, representing 17.5% year-over-year growth at the midpoint.
With a P/S Ratio of 11.5, the market is pricing in significant growth expectations. The EV/EBITDA ratio stands at -114.79, indicating that the company's valuation is sensitive to its profitability. As JFrog continues to invest in innovation and expand its solutions, its ability to manage expenses and drive growth will be crucial in justifying its valuation.
According to Shlomi Ben Haim, CEO of JFrog Ltd., the company's focus is on being the system of record and providing value to enterprise customers, particularly with the rise of AI-related binaries. The company's "too integrated to fail" philosophy focuses on serving human developers and agents, positioning JFrog as a critical player in the DevOps and MLOps landscape.
JFrog Ltd. (FROG) Presents at Morgan Stanley Technology, Media & Telecom Conference 2026 Transcript
Mar -02
Is JFrog Stock a Buy After Investment Firm Anatole Purchased Over 1 Million Shares in a New Stake?
Feb -27
JFrog Stock Pops As Company Bets Big On Itself — Should You Be Watching FROG?
Feb -26
JFrog Announces $300 Million Share Repurchase Program
Feb -26
Artisan Global Discovery Fund Q4 2025 Winners, Laggards, Buys & Sells
Feb -26
Hillsdale Investment Management Inc. Buys 14,800 Shares of JFrog Ltd. $FROG
Feb -23
JFrog's CTO Sold Shares Worth $2.5 Million. Is the Stock a Buy or Sell?
Feb -22
Cybersecurity Stocks Hit By Anthropic 'Claude Code Security.' JFrog Plunges.
Feb -20
JFrog's subscription growth of 18.97% is driven by increasing adoption of cloud-native and DevOps practices, rising demand for efficient software development and deployment, and the company's expanding presence in the global market, particularly in the Asia-Pacific region. Additionally, JFrog's innovative products, such as Artifactory and Xray, are gaining traction among large enterprises and Fortune 500 companies.
JFrog's 14.4% growth in Software-as-a-Service is driven by increasing adoption of cloud-native applications, DevOps practices, and digital transformation. The company's platform provides a unified solution for managing and securing software packages, appealing to enterprises seeking efficient and secure software development. Additionally, JFrog's expansion into new markets, strategic partnerships, and continuous innovation in artificial intelligence and machine learning capabilities further fuel growth.
JFrog's 14.07% growth driven by increasing adoption of DevOps and digital transformation, rising demand for efficient software release management, and expansion into new markets and geographies, fueled by strategic partnerships and innovative products such as Artifactory and Xray.
A universal binary repository manager that integrates with your existing ecosystem to provide a single source of truth for all your binaries, including Docker images, npm packages, and more.
A fully-featured, cloud-based package repository that provides a single source of truth for all your software packages, including npm, Docker, and more.
A universal artifact analysis platform that provides deep insights into your software components, including open-source and third-party dependencies.
A cloud-based, continuous integration and continuous deployment (CI/CD) platform that automates and streamlines your software delivery process.
A centralized management platform that provides real-time visibility and control over your JFrog products and services.
JFrog's products are highly specialized and customized, making it difficult for substitutes to emerge.
While JFrog's customers have some bargaining power due to the availability of alternative solutions, the company's strong brand reputation and high-quality products mitigate this power.
JFrog has a diverse supplier base, and its suppliers have limited bargaining power due to the company's strong market position.
While there are barriers to entry in the DevOps and software development markets, new entrants can still emerge, especially with the rise of open-source alternatives.
The DevOps and software development markets are highly competitive, with several established players and new entrants vying for market share.
| Value | |
|---|---|
| Debt Weight | 3.17% |
| Debt Cost | 3.95% |
| Equity Weight | 96.83% |
| Equity Cost | 8.98% |
| WACC | 8.82% |
| Leverage | 3.27% |
Value: 4.2
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