Business
JFrog Announces Fourth Quarter and Fiscal 2021 Results
Quarterly Revenue Increases 39%; Cloud Revenue Increases 52% Customer Count with ARR Greater than $100K Increases 53% Quarterly Operating Cash Flow of $17.7
About this update from Jfrog Ltd.
[{"type":"text","content":"\nQuarterly Revenue Increases 39%; Cloud Revenue Increases 52%\n\nCustomer Count with ARR Greater than $100K Increases 53%\n\nQuarterly Operating Cash Flow of $17.7 million; Free Cash Flow of $16.6 million\n\n SUNNYVALE, Calif.--(BUSINESS WIRE)--\nJFrog Ltd. (“JFrog”) (NASDAQ: FROG), the Liquid Software company and creators of the DevOps Platform, today announced financial results for its fourth quarter and fiscal year ended December 31, 2021.\n\n“JFrog successfully marked its first complete fiscal year as a public company, exceeding our revenue commitments in every single quarter of 2021,” said Shlomi Ben Haim, JFrog’s co-founder and CEO. “Q4 was another strong quarter with 39% revenue growth year-over-year and increased expansion by our customers, which reflects both our deepening value and our continued, strong focus on a binary-centric solution as the only way to allow a fast and secure DevOps flow.”\n\nFourth Quarter Financial Highlights\n\n\nRevenue for the fourth quarter of 2021 was $59.2 million, an increase of 39% over $42.7 million in the fourth quarter of 2020.\n\n\nGAAP Gross Profit was $46.4 million; GAAP Gross Margin was 78.3%.\n\n\nNon-GAAP Gross Profit was $50.2 million; Non-GAAP Gross Margin was 84.8%.\n\n\nGAAP Operating Loss was $22.6 million; GAAP Operating Margin was -38.2%.\n\n\nNon-GAAP Operating Income was $49,000; Non-GAAP Operating Margin was 0.1%.\n\n\nGAAP Net Loss Per Diluted Share was $0.23; Non-GAAP Net Loss Per Diluted Share was $0.01.\n\n\nOperating Cash Flow was $17.7 million, with Free Cash Flow of $16.6 million.\n\n\nCash, Cash Equivalents and Investments were $421.1 million as of December 31, 2021.\n\n\nFiscal Year 2021 Financial Highlights\n\n\nRevenue for fiscal year 2021 was $206.7 million, an increase of 37% from $150.8 million for fiscal year 2020.\n\n\nGAAP Gross Profit was $164.9 million; GAAP Gross Margin was 79.8%.\n\n\nNon-GAAP Gross Profit was $173.9 million; Non-GAAP Gross Margin was 84.1%.\n\n\nGAAP Operating Loss was $68.4 million; GAAP Operating Margin was -33.1%.\n\n\nNon-GAAP Operating Income was $4.2 million; Non-GAAP Operating Margin was 2.0%.\n\n\nGAAP Net Loss Per Diluted Share was $0.68; Non-GAAP Net Income Per Diluted Share was $0.03.\n\n\nFourth Quarter & Recent Business Highlights\n\n\nAccelerated growth of customers with ARR of $100K or more, increasing 53% to 537 cu...