What is Jfrog Ltd's earnings per share (EPS)?

Jfrog Ltd (FROG) reported diluted earnings per share of $-0.62 for fiscal year 2025. This represents a 1.6% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Jfrog Ltd Financials

FROG

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Jfrog Ltd (FROG) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 8 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 49/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Jfrog Ltd has an operating margin of -17.3%, meaning the company retains $-17 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -21.3% the prior year.

Growth

Jfrog Ltd's revenue surged 24.1% year-over-year to $531.8M, reflecting rapid business expansion. This strong growth earns a score of 74/100.

Leverage

Jfrog Ltd carries a low D/E ratio of 0.51, meaning only $0.51 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 92/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Jfrog Ltd's current ratio of 2.14 indicates adequate short-term liquidity, earning a score of 39/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow

Jfrog Ltd converts 26.8% of revenue into free cash flow ($142.3M). This strong cash generation earns a score of 92/100.

Returns

Jfrog Ltd generates a -8.1% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is up from -8.9% the prior year.

Piotroski F-Score Neutral

5/9

Jfrog Ltd passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Mixed

-2.03x

For every $1 of reported earnings, Jfrog Ltd generates $-2.03 in operating cash flow ($145.7M OCF vs -$71.8M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Key Financial Metrics

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Earnings & Revenue

Revenue

$531.8M

YoY+24.1%

5Y CAGR+28.7%

Jfrog Ltd generated $531.8M in revenue in fiscal year 2025. This represents an increase of 24.1% from the prior year.

EBITDA

-$67.3M

YoY+3.3%

Jfrog Ltd's EBITDA was -$67.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 3.3% from the prior year.

Net Income

-$71.8M

YoY-3.7%

Jfrog Ltd reported -$71.8M in net income in fiscal year 2025. This represents a decrease of 3.7% from the prior year.

EPS (Diluted)

$-0.62

YoY+1.6%

Jfrog Ltd earned $-0.62 per diluted share (EPS) in fiscal year 2025. This represents an increase of 1.6% from the prior year.

Cash & Balance Sheet

Free Cash Flow

$142.3M

YoY+32.0%

5Y CAGR+40.6%

Jfrog Ltd generated $142.3M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 32.0% from the prior year.

Cash & Debt

$75.8M

YoY+52.1%

5Y CAGR-14.3%

Jfrog Ltd held $75.8M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

$0.00

Jfrog Ltd paid $0.00 per share in dividends in fiscal year 2025.

Shares Outstanding

120M

YoY+6.0%

5Y CAGR+5.4%

Jfrog Ltd had 120M shares outstanding in fiscal year 2025. This represents an increase of 6.0% from the prior year.

Margins & Returns

Gross Margin

76.8%

YoY-0.3pp

5Y CAGR-4.3pp

Jfrog Ltd's gross margin was 76.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 0.3 percentage points from the prior year.

Operating Margin

-17.3%

YoY+4.0pp

5Y CAGR-7.9pp

Jfrog Ltd's operating margin was -17.3% in fiscal year 2025, reflecting core business profitability. This is up 4.0 percentage points from the prior year.

Net Margin

-13.5%

YoY+2.7pp

5Y CAGR-7.3pp

Jfrog Ltd's net profit margin was -13.5% in fiscal year 2025, showing the share of revenue converted to profit. This is up 2.7 percentage points from the prior year.

Return on Equity

-8.1%

YoY+0.9pp

5Y CAGR-6.4pp

Jfrog Ltd's ROE was -8.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 0.9 percentage points from the prior year.

Capital Allocation

R&D Spending

$195.1M

YoY+21.3%

5Y CAGR+36.5%

Jfrog Ltd invested $195.1M in research and development in fiscal year 2025. This represents an increase of 21.3% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$3.5M

YoY+10.1%

5Y CAGR-0.4%

Jfrog Ltd invested $3.5M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 10.1% from the prior year.

FROG Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$531.8M+24.1%	$428.5M+22.5%	$349.9M+24.9%	$280.0M+35.5%	$206.7M+37.0%	$150.8M
Cost of Revenue	$123.5M+25.6%	$98.3M+27.6%	$77.0M+23.7%	$62.3M+48.9%	$41.8M+47.0%	$28.5M
Gross Profit	$408.4M+23.7%	$330.2M+21.0%	$272.8M+25.3%	$217.8M+32.1%	$164.9M+34.7%	$122.4M
R&D Expenses	$195.1M+21.3%	$160.9M+19.5%	$134.6M+11.0%	$121.2M+52.3%	$79.6M+93.6%	$41.1M
SG&A Expenses	$81.2M+16.0%	$70.0M+10.9%	$63.1M+13.6%	$55.6M-2.0%	$56.7M+64.2%	$34.5M
Operating Income	-$91.9M-0.8%	-$91.1M-20.6%	-$75.5M+15.9%	-$89.8M-31.4%	-$68.4M-381.7%	-$14.2M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$5.8M+69.3%	$3.4M-49.3%	$6.7M+23.9%	$5.4M+258.9%	-$3.4M-24.8%	-$2.7M
Net Income	-$71.8M-3.7%	-$69.2M-13.0%	-$61.3M+32.1%	-$90.2M-40.5%	-$64.2M-582.6%	-$9.4M
EPS (Diluted)	$-0.62+1.6%	$-0.63-6.8%	$-0.59+35.2%	$-0.91-33.8%	$-0.68-240.0%	$-0.20

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	$145.3M+6.1%	$136.9M+7.6%	$127.2M+3.9%	$122.4M+5.5%	$116.1M+6.4%	$109.1M+5.8%	$103.0M+2.7%	$100.3M
Cost of Revenue	$32.2M+4.1%	$30.9M+2.3%	$30.2M+0.1%	$30.2M+5.9%	$28.5M+4.5%	$27.3M+24.7%	$21.9M+6.3%	$20.6M
Gross Profit	$113.1M+6.7%	$106.0M+9.3%	$97.0M+5.2%	$92.2M+5.3%	$87.6M+7.1%	$81.8M+0.8%	$81.2M+1.8%	$79.7M
R&D Expenses	$53.2M+3.9%	$51.2M+7.9%	$47.4M+9.4%	$43.3M-3.5%	$44.9M+4.5%	$43.0M+15.8%	$37.1M+3.6%	$35.8M
SG&A Expenses	$21.6M+5.4%	$20.5M+1.6%	$20.1M+5.7%	$19.0M+5.3%	$18.1M+2.0%	$17.7M+2.7%	$17.3M+1.9%	$16.9M
Operating Income	-$21.3M+1.2%	-$21.6M+16.9%	-$26.0M-13.1%	-$23.0M+9.6%	-$25.4M+15.1%	-$29.9M-56.4%	-$19.1M-15.0%	-$16.6M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$757K-50.1%	$1.5M-24.4%	$2.0M+34.1%	$1.5M-55.6%	$3.4M+365.4%	-$1.3M-161.2%	$2.1M+373.3%	-$759K
Net Income	-$15.2M+7.4%	-$16.4M+24.2%	-$21.7M-17.1%	-$18.5M+20.2%	-$23.2M-1.1%	-$22.9M-60.4%	-$14.3M-62.7%	-$8.8M
EPS (Diluted)	N/A	$-0.14+26.3%	$-0.19-18.8%	$-0.16	N/A	$-0.21-61.5%	$-0.13-62.5%	$-0.08

FROG Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$1.3B+18.7%	$1.1B+16.2%	$972.6M+11.6%	$871.2M+2.2%	$852.5M+23.7%	$689.2M
Current Assets	$873.0M+34.5%	$649.2M+0.5%	$645.8M+21.4%	$532.0M+6.6%	$499.0M-23.5%	$652.6M
Cash & Equivalents	$75.8M+52.1%	$49.9M-41.2%	$84.8M+85.9%	$45.6M-33.2%	$68.3M-58.5%	$164.5M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$119.9M+32.2%	$90.7M+18.7%	$76.4M+23.1%	$62.1M+23.0%	$50.5M+36.3%	$37.0M
Goodwill	$371.5M0.0%	$371.5M+49.8%	$248.0M0.0%	$248.0M+0.1%	$247.8M+1330.6%	$17.3M
Total Liabilities	$453.9M+27.4%	$356.4M+21.5%	$293.4M+19.1%	$246.4M+15.2%	$213.9M+58.1%	$135.3M
Current Liabilities	$407.5M+28.3%	$317.5M+21.1%	$262.2M+25.1%	$209.6M+19.6%	$175.3M+42.8%	$122.7M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$887.4M+14.7%	$773.5M+13.9%	$679.1M+8.7%	$624.8M-2.2%	$638.6M+15.3%	$553.9M
Retained Earnings	-$431.5M-20.0%	-$359.7M-23.8%	-$290.4M-26.7%	-$229.2M-64.9%	-$139.0M-85.8%	-$74.8M

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$1.3B+6.0%	$1.3B+4.7%	$1.2B+4.5%	$1.2B+2.3%	$1.1B+4.5%	$1.1B+5.9%	$1.0B+2.4%	$997.1M
Current Assets	$873.0M+9.1%	$800.2M+8.5%	$737.2M+8.1%	$682.1M+5.1%	$649.2M+9.4%	$593.4M-15.6%	$703.2M+4.1%	$675.6M
Cash & Equivalents	$75.8M-3.2%	$78.4M+52.8%	$51.3M+15.6%	$44.4M-11.1%	$49.9M-19.9%	$62.2M-71.5%	$218.3M+205.8%	$71.4M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$119.9M+14.9%	$104.4M+25.8%	$83.0M-1.5%	$84.3M-7.1%	$90.7M-2.3%	$92.9M+13.2%	$82.0M+23.2%	$66.6M
Goodwill	$371.5M0.0%	$371.5M0.0%	$371.5M0.0%	$371.5M0.0%	$371.5M0.0%	$371.4M+49.8%	$248.0M0.0%	$248.0M
Total Liabilities	$453.9M+11.8%	$406.1M+6.4%	$381.7M+7.2%	$356.2M-0.1%	$356.4M+9.8%	$324.7M+8.3%	$299.7M+3.6%	$289.3M
Current Liabilities	$407.5M+10.9%	$367.6M+6.0%	$346.7M+8.6%	$319.2M+0.5%	$317.5M+8.7%	$292.2M+8.3%	$269.8M+3.7%	$260.2M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$887.4M+3.3%	$859.4M+4.0%	$826.5M+3.3%	$800.0M+3.4%	$773.5M+2.3%	$756.2M+4.8%	$721.4M+1.9%	$707.8M
Retained Earnings	-$431.5M-3.7%	-$416.3M-4.1%	-$399.8M-5.7%	-$378.2M-5.1%	-$359.7M-6.9%	-$336.5M-7.3%	-$313.5M-4.8%	-$299.2M

FROG Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$145.7M+31.4%	$110.9M+49.6%	$74.2M+246.1%	$21.4M-23.2%	$27.9M-5.3%	$29.5M
Capital Expenditures	$3.5M+10.1%	$3.1M+58.6%	$2.0M-54.2%	$4.3M+2.4%	$4.2M+20.0%	$3.5M
Free Cash Flow	$142.3M+32.0%	$107.8M+49.3%	$72.2M+322.1%	$17.1M-27.8%	$23.7M-8.7%	$25.9M
Investing Cash Flow	-$152.3M+7.9%	-$165.4M-209.2%	-$53.5M-0.3%	-$53.3M+57.5%	-$125.5M+59.7%	-$311.8M
Financing Cash Flow	$31.2M+47.0%	$21.2M+15.6%	$18.4M+66.6%	$11.0M+663.6%	$1.4M-99.6%	$406.1M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	$50.7M+68.1%	$30.2M-16.4%	$36.1M+25.3%	$28.8M-41.4%	$49.1M+77.7%	$27.6M+65.5%	$16.7M-4.4%	$17.5M
Capital Expenditures	$840K-37.6%	$1.3M+114.7%	$627K-3.1%	$647K+2.1%	$634K-32.3%	$936K+27.9%	$732K-13.0%	$841K
Free Cash Flow	$49.9M+73.0%	$28.8M-18.7%	$35.5M+26.0%	$28.1M-41.9%	$48.5M+81.6%	$26.7M+67.3%	$16.0M-4.0%	$16.6M
Investing Cash Flow	-$55.5M-385.8%	-$11.4M+71.1%	-$39.5M+13.6%	-$45.8M+30.3%	-$65.7M+65.1%	-$188.0M-239.0%	$135.2M+388.1%	-$46.9M
Financing Cash Flow	$2.0M-75.0%	$8.1M-15.6%	$9.6M-16.6%	$11.5M+161.1%	$4.4M-10.1%	$4.9M+204.9%	-$4.7M-128.2%	$16.6M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

FROG Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	76.8%-0.3pp	77.1%-0.9pp	78.0%+0.2pp	77.8%-2.0pp	79.8%-1.4pp	81.1%
Operating Margin	-17.3%+4.0pp	-21.3%+0.3pp	-21.6%+10.5pp	-32.1%+1.0pp	-33.1%-23.7pp	-9.4%
Net Margin	-13.5%+2.7pp	-16.2%+1.4pp	-17.5%+14.7pp	-32.2%-1.1pp	-31.1%-24.8pp	-6.2%
Return on Equity	-8.1%+0.9pp	-8.9%+0.1pp	-9.0%+5.4pp	-14.4%-4.4pp	-10.1%-8.3pp	-1.7%
Return on Assets	-5.3%+0.8pp	-6.1%+0.2pp	-6.3%+4.0pp	-10.3%-2.8pp	-7.5%-6.2pp	-1.4%
Current Ratio	2.14+0.1	2.04-0.4	2.46-0.1	2.54-0.3	2.85-2.5	5.32
Debt-to-Equity	0.51+0.1	0.46+0.0	0.43+0.0	0.39+0.1	0.34+0.1	0.24
FCF Margin	26.8%+1.6pp	25.1%+4.5pp	20.6%+14.5pp	6.1%-5.3pp	11.5%-5.7pp	17.2%

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Gross Margin	77.9%+0.4pp	77.4%+1.2pp	76.3%+0.9pp	75.3%-0.1pp	75.4%+0.5pp	75.0%-3.8pp	78.8%-0.7pp	79.5%
Operating Margin	-14.7%+1.1pp	-15.8%+4.6pp	-20.4%-1.6pp	-18.8%+3.1pp	-21.9%+5.5pp	-27.4%-8.9pp	-18.6%-2.0pp	-16.6%
Net Margin	-10.5%+1.5pp	-12.0%+5.0pp	-17.0%-1.9pp	-15.1%+4.9pp	-20.0%+1.1pp	-21.0%-7.2pp	-13.9%-5.1pp	-8.8%
Return on Equity	-1.7%+0.2pp	-1.9%+0.7pp	-2.6%-0.3pp	-2.3%+0.7pp	-3.0%+0.0pp	-3.0%-1.0pp	-2.0%-0.7pp	-1.2%
Return on Assets	-1.1%+0.2pp	-1.3%+0.5pp	-1.8%-0.2pp	-1.6%+0.5pp	-2.1%+0.1pp	-2.1%-0.7pp	-1.4%-0.5pp	-0.9%
Current Ratio	2.14-0.0	2.18+0.1	2.13-0.0	2.14+0.1	2.04+0.0	2.03-0.6	2.610.0	2.60
Debt-to-Equity	0.51+0.0	0.47+0.0	0.46+0.0	0.45-0.0	0.46+0.0	0.43+0.0	0.420.0	0.41
FCF Margin	34.3%+13.3pp	21.0%-6.8pp	27.9%+4.9pp	23.0%-18.8pp	41.8%+17.3pp	24.5%+9.0pp	15.5%-1.1pp	16.6%

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Frequently Asked Questions

What is Jfrog Ltd's annual revenue?

Jfrog Ltd (FROG) reported $531.8M in total revenue for fiscal year 2025. This represents a 24.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Jfrog Ltd's revenue growing?

Jfrog Ltd (FROG) revenue grew by 24.1% year-over-year, from $428.5M to $531.8M in fiscal year 2025.

Is Jfrog Ltd profitable?

No, Jfrog Ltd (FROG) reported a net income of -$71.8M in fiscal year 2025, with a net profit margin of -13.5%.

What is Jfrog Ltd's EBITDA?

Jfrog Ltd (FROG) had EBITDA of -$67.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Jfrog Ltd's gross margin?

Jfrog Ltd (FROG) had a gross margin of 76.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Jfrog Ltd's operating margin?

Jfrog Ltd (FROG) had an operating margin of -17.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Jfrog Ltd's net profit margin?

Jfrog Ltd (FROG) had a net profit margin of -13.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Jfrog Ltd's return on equity (ROE)?

Jfrog Ltd (FROG) has a return on equity of -8.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Jfrog Ltd's free cash flow?

Jfrog Ltd (FROG) generated $142.3M in free cash flow during fiscal year 2025. This represents a 32.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Jfrog Ltd's operating cash flow?

Jfrog Ltd (FROG) generated $145.7M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Jfrog Ltd's total assets?

Jfrog Ltd (FROG) had $1.3B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Jfrog Ltd's capital expenditures?

Jfrog Ltd (FROG) invested $3.5M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Jfrog Ltd spend on research and development?

Jfrog Ltd (FROG) invested $195.1M in research and development during fiscal year 2025.

How many shares does Jfrog Ltd have outstanding?

Jfrog Ltd (FROG) had 120M shares outstanding as of fiscal year 2025.

What is Jfrog Ltd's current ratio?

Jfrog Ltd (FROG) had a current ratio of 2.14 as of fiscal year 2025, which is generally considered healthy.

What is Jfrog Ltd's debt-to-equity ratio?

Jfrog Ltd (FROG) had a debt-to-equity ratio of 0.51 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Jfrog Ltd's return on assets (ROA)?

Jfrog Ltd (FROG) had a return on assets of -5.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Jfrog Ltd's Piotroski F-Score?

Jfrog Ltd (FROG) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Jfrog Ltd's earnings high quality?

Jfrog Ltd (FROG) has an earnings quality ratio of -2.03x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Jfrog Ltd?

Jfrog Ltd (FROG) scores 49 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.