Business
JFrog Announces Fourth Quarter and Fiscal 2022 Results
Total Fiscal Year 2022 Revenues of $280 million; up 35% Year-over-Year Total Fiscal Year 2022 Cloud Revenues of $80 million; up 60% Year-over-Year Quarterly
About this update from Jfrog Ltd.
[{"type":"text","content":"\n\nTotal Fiscal Year 2022 Revenues of $280 million; up 35% Year-over-Year\n\n\nTotal Fiscal Year 2022 Cloud Revenues of $80 million; up 60% Year-over-Year\n\n\nQuarterly Cloud Revenues Up 53% Year-over-Year; driven by customer expansion\n\n\nMultiple customers purchased newly-released JFrog Advanced Security for DevSecOps\n\n\n SUNNYVALE, Calif.--(BUSINESS WIRE)--\nJFrog Ltd. (“JFrog”) (Nasdaq: FROG), the Liquid Software company and creators of the JFrog Software Supply Chain Platform, today announced financial results for its fourth quarter and fiscal year ended December 31, 2022.\n\n“Our fourth quarter revenue results were in line with the guidance range we provided, and we met our commitments on profitability, despite macroeconomic headwinds increasing near the end of the year,” said Shlomi Ben Haim, JFrog Co-founder and CEO. “We are excited to see the continued expansion in the adoption of the JFrog Software Supply Chain Platform, as customers continue to favor a single, universal platform to manage their DevOps and DevSecOps processes. The release of JFrog Advanced Security saw rapid adoption by both new and existing customers looking to incorporate the comprehensive set of capabilities and consolidate current security point solutions. As we enter 2023, we expect our investments in binary management, security and cloud - all in one platform - to bear fruit and fuel our growth.”\n\nFourth Quarter Financial Highlights\n\n\nRevenue equaled $76.5 million, an increase of 29% year-over-year.\n\n\nGAAP Gross Profit was $59.3 million; GAAP Gross Margin was 77.4%.\n\n\nNon-GAAP Gross Profit was $64.0 million; Non-GAAP Gross Margin was 83.7%.\n\n\nGAAP Operating Loss was ($24.9) million; GAAP Operating Margin was (32.5%).\n\n\nNon-GAAP Operating Profit was $1.6 million; Non-GAAP Operating Margin was 2.1%.\n\n\nGAAP Net Loss Per Share was ($0.23); Non-GAAP Earnings Per Share was $0.04.\n\n\nOperating Cash Flow was $7.3 million, with Free Cash Flow of $6.4 million.\n\n\nCash, Cash Equivalents, and Investments were $443.2 million as of December 31, 2022.\n\n\nRemaining performance obligations were $204.7 million as of December 31, 2022.\n\n\nFiscal Year 2022 Financial Highlights\n\n\nRevenue equaled $280.0 million, an increase of 35% year-over-year.\n\n\nGAAP Gross Profit was $217.8 million; GAAP Gross Margin was 77.8%.\n\n\nNon-GAAP G...