Business
CORRECTING and REPLACING JFrog Announces Second Quarter Fiscal 2023 Results
Total Revenues of $84.2 million; up 24% Year-over-Year Cloud Revenues Up 44% Year-over-Year; driven by higher customer usage Launched JFrog Curation security
About this update from Jfrog Ltd.
[{"type":"text","content":"\n\nTotal Revenues of $84.2 million; up 24% Year-over-Year\n\n\n\nCloud Revenues Up 44% Year-over-Year; driven by higher customer usage\n\n\n\nLaunched JFrog Curation security tool to prevent malicious packages from entering software supply chains\n\n\n\nCommissioned Forrester study finds nearly 400% ROI with the JFrog Platform\n\n\n\n SUNNYVALE, Calif.--(BUSINESS WIRE)--\nIn the last bullet point of \"Fiscal Year 2023 Outlook,\" the \"Non-GAAP net income per diluted share\" should be: between $0.31 and $0.33 (instead of between $0.26 and $0.28).\n\n\nThe updated release reads:\n\n\nJFROG ANNOUNCES SECOND QUARTER FISCAL 2023 RESULTS\n\n\n\nTotal Revenues of $84.2 million; up 24% Year-over-Year\n\n\n\nCloud Revenues Up 44% Year-over-Year; driven by higher customer usage\n\n\n\nLaunched JFrog Curation security tool to prevent malicious packages from entering software supply chains\n\n\n\nCommissioned Forrester study finds nearly 400% ROI with the JFrog Platform\n\n\n\nJFrog Ltd. (“JFrog”) (Nasdaq: FROG), the Liquid Software company and creators of the JFrog Software Supply Chain Platform, today announced financial results for its second quarter ended June 30, 2023.\n\n\n\"The growth in our second-quarter revenue - alongside robust operating performance - demonstrates solid execution aligned with our plans. The continuous adoption of our DevOps and Security solutions as crucial enterprise infrastructure has been a driving force behind these results,\" stated Shlomi Ben Haim, JFrog CEO and Co-founder. \"With the recent launch of JFrog Curation, natively integrated with JFrog Artifactory, Xray and Advanced Security, we have significantly enhanced our DevSecOps capabilities and are enthusiastic about further expansion of JFrog's presence in the security market.\"\n\n\nSecond Quarter 2023 Financial Highlights\n\n\n\nRevenue for the second quarter of 2023 equaled $84.2 million, up 24% year-over-year.\n\n\n\nGAAP Gross Profit was $65.7 million; GAAP Gross Margin was 78.1%.\n\n\n\nNon-GAAP Gross Profit was $70.4 million; Non-GAAP Gross Margin was 83.6%.\n\n\n\nGAAP Operating Loss was ($18.9) million; GAAP Operating Margin was (22.5%).\n\n\n\nNon-GAAP Operating Income was $8.2 million; Non-GAAP Operating Margin was 9.7%.\n\n\n\nGAAP Net Loss Per Share was ($0.15); Non-GAAP Earnings Per Share was $0.11.\n\n\n\nOperating Cash Flow was $16.7 ...