Business
JFrog Announces First Quarter Fiscal 2021 Results
Quarterly Revenue Increased 37% Quarterly Operating Cash Flow of $8.8 million; Free Cash Flow of $7.7 million Empowers End-to-End Platform with Breakthrough
About this update from Jfrog Ltd.
[{"type":"text","content":"\nQuarterly Revenue Increased 37%\n\nQuarterly Operating Cash Flow of $8.8 million; Free Cash Flow of $7.7 million\n\nEmpowers End-to-End Platform with Breakthrough Technologies for Enhanced Security and Software Distribution Capabilities\n\n SUNNYVALE, Calif.--(BUSINESS WIRE)--\nJFrog Ltd. (NASDAQ: FROG), the liquid software company, today announced financial results for its first quarter ended March 31, 2021.\n\n“Our strong first quarter results are setting a solid tone for the year, with 37% revenue growth, 130% net dollar retention rate for the trailing four quarters, and increasing net new customer additions,” said Shlomi Ben Haim, CEO of JFrog. “In Q1, we took a significant leap forward in product innovation, releasing capabilities around modern DevOps scalability; enhanced security, software distribution and the developer ecosystem in response to increasing demand for a full, end-to-end DevOps platform. It’s our goal to make developers the transformers in the digital era, and we’re proud to partner with them and their organizations as they continuously deliver software rapidly and securely to the edge.”\n\nFirst Quarter Financial Highlights\n\n\nRevenue for the first quarter of 2021 was $45.1 million, an increase of 37% from $32.8 million for the first quarter of 2020.\n\n\nGAAP Gross Profit was $36.7 million; GAAP Gross Margin was 81.3%.\n\n\nNon-GAAP Gross Profit was $37.6 million; Non-GAAP Gross Margin was 83.4%.\n\n\nGAAP Operating Loss was ($10.6 million); GAAP Operating Margin was (23.5%).\n\n\nNon-GAAP Operating Income was $1.9 million; Non-GAAP Operating Margin was 4.1%.\n\n\nGAAP Net Loss Per Diluted Share was ($0.09); Non-GAAP Net Income Per Diluted Share was $0.02.\n\n\nOperating Cash Flow was $8.8 million, with Free Cash Flow of $7.7 million.\n\n\nCash, cash equivalents and investments were $605.7 million as of March 31, 2021.\n\n\nFirst Quarter & Recent Business Highlights \n\n\nAt quarter end, 395 customers had ARR greater than $100,000; 10 customers had ARR above $1 million.\n\n\nNet Dollar Retention rate for the trailing four quarters was 130%.\n\n\nCloud revenue in Q4 grew by 62% to $10.3 million over the same period last year, representing 23% of total revenue, up from 19% a year ago.\n\n\nAt quarter end, customers using the complete platform (Enterprise+ subscription) represented 29% of revenue in the f...