Business
JFrog Announces First Quarter Fiscal 2022 Results
Total Revenues of $63.7 million; Up 41% Year-over-Year Cloud Revenues Up 63% Year-over-Year Increased Adoption of JFrog Platform and Security Capabilities
About this update from Jfrog Ltd.
[{"type":"text","content":"\n\nTotal Revenues of $63.7 million; Up 41% Year-over-Year\n\n\nCloud Revenues Up 63% Year-over-Year\n\n\nIncreased Adoption of JFrog Platform and Security Capabilities Drives Revenue Acceleration\n\n\nCustomers with ARR Greater than $100k Grew 52% Year-over-Year to 599\n\n\n \n\n SUNNYVALE, Calif.--(BUSINESS WIRE)--\nJFrog Ltd. (“JFrog”) (Nasdaq: FROG), the Liquid Software company and creators of the JFrog DevOps Platform, today announced financial results for its first quarter, ended March 31, 2022.\n\n“JFrog demonstrated a solid start to 2022, as Q1 was yet another strong quarter. We’re excited to see the growing number of customers transitioning to the cloud, securing their software supply chain, and powering their DevOps pipelines with the JFrog Platform,” said Shlomi Ben Haim, JFrog Co-founder and CEO. “Our consistent investment in an end-to-end DevOps platform, that includes advanced security and distribution capabilities, answers the market demand. Our focus on multi-cloud, hybrid, and self-hosted offerings continues to bear fruit.”\n\nFirst Quarter Financial Highlights\n\n\nRevenue for the first quarter of 2022 equaled $63.7 million, an increase of 41% compared to the year ago period.\n\n\nGAAP Gross Profit was $49.8 million; GAAP Gross Margin was 78.2%.\n\n\nNon-GAAP Gross Profit was $53.8 million; Non-GAAP Gross Margin was 84.4%.\n\n\nGAAP Operating Loss was ($19.1) million; GAAP Operating Margin was negative 30%.\n\n\nNon-GAAP Operating Income was $0.5 million; Non-GAAP Operating Margin was 0.9%.\n\n\nGAAP Net Loss Per Diluted Share was $0.20; Non-GAAP Net Income Per Diluted Share was $0.00.\n\n\nOperating Cash Flow was $5.0 million, with Free Cash Flow of $3.9 million.\n\n\nCash, Cash Equivalents and Investments were $427.7 million as of March 31, 2022.\n\n\nRecent Business & Product Highlights\n\n\nCloud revenue equaled $16.8 million during the first quarter of 2022, an increase of 63% over the year ago period. Cloud revenue represented 26% of total revenue, compared to 23% in the year ago period.\n\n\nNet Dollar Retention rate for the trailing four quarters was 131%.\n\n\n$100K ARR customers increased 52% year-over-year to 599 customers, compared with 395 in the year ago period.\n\n\n$1 million ARR customers increased 60% year-over-year to 16 customers, up from 10 customers as of March 31, 2021.\n\n\nCustomers ado...