Business
JFrog Announces Fourth Quarter and Fiscal 2024 Results
Total Fiscal 2024 Revenues of $428.5 million; up 22% Year-over-Year Cloud Revenues up 41% in 2024; driven by migrations and large customer wins Security core
About this update from Jfrog Ltd.
[{"type":"text","content":"\n\nTotal Fiscal 2024 Revenues of $428.5 million; up 22% Year-over-Year\n\n\n\nCloud Revenues up 41% in 2024; driven by migrations and large customer wins\n\n\n\nSecurity core products equaled 3% of total revenue in 2024; approximately 12% of ending RPO\n\n\n\nCustomers with ARR greater than $1 million equaled 52, up 41% Year-over-Year\n\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, 2024.\n\n\n“The landscapes of DevOps, DevSecOps, and MLOps are evolving rapidly, with customer demand for comprehensive, end-to-end solutions that unify and secure the software supply chain, while enabling responsible GenAI adoption. These transformative shifts contributed to our success throughout 2024,” said Shlomi Ben Haim, CEO and Co-founder of JFrog. “In 2024, JFrog achieved strong cloud expansion, accelerated Platform adoption, and growth in security, all while delivering high Operating Cash Flow and Free Cash Flow performance. We have solidified our position as the single system of record for all types of software packages and AI models, and we remain committed to amplifying this momentum in 2025.”\n\n\nFourth Quarter 2024 Financial Highlights\n\n\n\nRevenue for the fourth quarter of 2024 was $116.1 million, up 19% year-over-year.\n\n\n\nGAAP Gross Profit was $87.6 million; GAAP Gross Margin was 75.4%.\n\n\n\nNon-GAAP Gross Profit was $96.5 million; Non-GAAP Gross Margin was 83.2%.\n\n\n\nGAAP Operating Loss was ($25.4) million; GAAP Operating Margin was (21.9%).\n\n\n\nNon-GAAP Operating Income was $20.9 million; Non-GAAP Operating Margin was 18.0%.\n\n\n\nGAAP Net Loss Per Share was ($0.21); Non-GAAP Diluted Earnings Per Share was $0.19.\n\n\n\nOperating Cash Flow was $49.1 million; Free Cash Flow of $48.5 million.\n\n\n\nCash, Cash Equivalents and Investments were $522.0 million as of December 31, 2024.\n\n\n\nRemaining performance obligations were $403.1 million as of December 31, 2024.\n\n\n\nFiscal 2024 Financial Highlights\n\n\n\nRevenue for fiscal 2024 was $428.5 million, up 22% year-over-year.\n\n\n\nSecurity core comprised 5% of ending ARR and approximately 12% of ending RPO.\n\n\n\nGAAP Gross Profit was $330.2 million; GAAP...