Cash and cash equivalents (USD, thousands)

Short-term investments (USD, thousands)

Accounts receivable, net (USD, thousands)

Deferred contract acquisition costs (USD, thousands)

Prepaid expenses and other current assets (USD, thousands)

Total current assets (USD, thousands)

Property and equipment, net (USD, thousands)

Deferred contract acquisition costs, noncurrent (USD, thousands)

Operating lease right-of-use assets (USD, thousands)

Intangible assets, net (USD, thousands)

Goodwill (USD, thousands)

Other assets, noncurrent (USD, thousands)

Total assets (USD, thousands)

Accounts payable (USD, thousands)

Accrued expenses and other current liabilities (USD, thousands)

Operating lease liabilities (USD, thousands)

Deferred revenue (USD, thousands)

Total current liabilities (USD, thousands)

Deferred revenue, noncurrent (USD, thousands)

Operating lease liabilities, noncurrent (USD, thousands)

Other liabilities, noncurrent (USD, thousands)

Total liabilities (USD, thousands)

Ordinary shares (USD, thousands)

Additional paid-in capital (USD, thousands)

Accumulated other comprehensive income (USD, thousands)

Accumulated deficit (USD, thousands)

Total shareholders’ equity (USD, thousands)

Total liabilities and shareholders’ equity (USD, thousands)

df89ce65a905e97364171571869431956603b4a0c15ef32c18a8ed493bcbe6b3

Total Revenue (USD, thousands)

Cost of Goods Sold (COGS) (USD, thousands)

SG&A (USD, thousands)

Research and Development (R&D) (USD, thousands)

Depreciation and Amortization (D&A) (USD, thousands)

Interest Expense (USD, thousands)

Operating Income (EBIT) (USD, thousands)

Net Income (USD, thousands)

EPS - Basic (USD, per share)

EPS - Diluted (USD, per share)

54e286bb3a6d5b484a34ee3ba2b550d5e3d9a7164371d12028eb8922a4a46bd6

Self-Managed Subscription

- SaaS Subscription

- License (Self-Managed)

Total Subscription Revenue

Enterprise Plus Subscription

Total Revenue

af5ffce577badb3f761dbd320570764967aa52660a1712f308d74df915af90fd

Number of customers with ARR of at least 100,000 (customers)

Number of customers with ARR of at least 1,000,000 (customers)

Net Dollar Retention Rate (percentage)

9d6dd1e6d23f9bb300427c06d494500588cd681249e12c8bb4ad912f31766ab7

Current Assets (USD, thousands)

Cash and Cash Equivalents (USD, thousands)

Accounts Receivable (USD, thousands)

Inventory (USD, thousands)

Non-Current Assets (USD, thousands)

Property, Plant, and Equipment (PP&E) (USD, thousands)

Intangible Assets (USD, thousands)

Current Liabilities (USD, thousands)

Accounts Payable (USD, thousands)

Short-term Debt (USD, thousands)

Accrued Expenses (USD, thousands)

Non-Current Liabilities (USD, thousands)

Long-term Debt (USD, thousands)

Lease Liabilities (USD, thousands)

Deferred Tax Liabilities (USD, thousands)

Shareholders' Equity (USD, thousands)

Retained Earnings (USD, thousands)

Common Stock (USD, thousands)

Additional Paid-in Capital (USD, thousands)

fc1d6837e417b71a2da1cf8fbb582cbd92629a2269ec79bddebe5fd0ded6caad

Revenue: Subscription—self-managed and SaaS (USD, thousands)

Revenue: License—self-managed (USD, thousands)

Total subscription revenue (USD, thousands)

Cost of revenue: Subscription—self-managed and SaaS (USD, thousands)

Cost of revenue: License—self-managed (USD, thousands)

Total cost of revenue—subscription (USD, thousands)

Gross profit (USD, thousands)

Operating expenses: Research and development (USD, thousands)

Operating expenses: Sales and marketing (USD, thousands)

Operating expenses: General and administrative (USD, thousands)

Total operating expenses (USD, thousands)

Operating loss (USD, thousands)

Interest and other income, net (USD, thousands)

Loss before income taxes (USD, thousands)

Income tax expense (benefit) (USD, thousands)

Net loss (USD, thousands)

Net loss per share attributable to ordinary shareholders, basic and diluted (USD)

Weighted-average shares used in computing net loss per share attributable to ordinary shareholders, basic and diluted (shares)

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Net Loss (USD, thousands)

Depreciation and Amortization (USD, thousands)

Share-Based Compensation Expense (USD, thousands)

Non-Cash Operating Lease Expense (USD, thousands)

Net Amortization of Premium or Discount on Investments (USD, thousands)

Losses (Gains) on Foreign Exchange (USD, thousands)

Accounts Receivable, Changes in Operating Assets and Liabilities (USD, thousands)

Prepaid Expenses and Other Assets, Changes in Operating Assets and Liabilities (USD, thousands)

Deferred Contract Acquisition Costs, Changes in Operating Assets and Liabilities (USD, thousands)

Accounts Payable, Changes in Operating Assets and Liabilities (USD, thousands)

Accrued Expenses and Other Liabilities, Changes in Operating Assets and Liabilities (USD, thousands)

Operating Lease Liabilities, Changes in Operating Assets and Liabilities (USD, thousands)

Deferred Revenue, Changes in Operating Assets and Liabilities (USD, thousands)

Net Cash Provided by Operating Activities (USD, thousands)

Purchases of Short-Term Investments (USD, thousands)

Maturities of Short-Term Investments (USD, thousands)

Sales of Short-Term Investments (USD, thousands)

Purchases of Property and Equipment (USD, thousands)

Payments for Business Combinations, Net of Cash Acquired (USD, thousands)

Purchases of Intangible Asset (USD, thousands)

Net Cash Used in Investing Activities (USD, thousands)

Proceeds from Exercise of Share Options (USD, thousands)

Proceeds from Employee Share Purchase Plan (USD, thousands)

Proceeds from Employee Equity Transactions, Net of Payments to Tax Authorities (USD, thousands)

Net Cash Provided by Financing Activities (USD, thousands)

Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash (USD, thousands)

Net Increase (Decrease) in Cash, Cash Equivalents, and Restricted Cash (USD, thousands)

Income Tax Payments (Refunds) (USD, thousands)

Payments to Tax Authorities from Employee Equity Transactions, Net (USD, thousands)

Maturities and Sales of Short-Term Investments (USD, thousands)

Acquisition of Business, Net of Cash Acquired (USD, thousands)

Net Cash Provided by (Used in) Investing Activities (USD, thousands)

Net Increase in Cash, Cash Equivalents, and Restricted Cash (USD, thousands)

Cash, Cash Equivalents, and Restricted Cash—Beginning of Period (USD, thousands)

Cash, Cash Equivalents, and Restricted Cash—End of Period (USD, thousands)

68ccf36443d5a794cc8371d3c905980b38bda514d68dcfa24a1cc20092233caf

The **substantial increase in Cash and cash equivalents** in Q2 2024 was primarily driven by **strong operating, investing, and financing activities**. Specifically, **JFrog Ltd.** generated **$34,166 thousand** from operating activities, which was complemented by **$88,267 thousand** in net cash provided by investing activities—mainly from the maturities and sales of short-term investments that significantly outpaced the purchases—and **$11,922 thousand** from financing activities such as proceeds from share options and employee share purchase plans.  **[0000950170-24-093979_frog-20240630.htm:35]** **[0000950170-24-092801_frog-ex99_1.htm:8]** 

Why was Cash and cash equivalents so high in Q2 2024?

The surge in **Intangible assets, net** in Q3 2024 was primarily driven by the **acquisition of Qwak in July 2024**, which added **$52,636 thousand** in intangible assets—comprising **developed technology** valued at **$48,662 thousand** and **customer relationships** valued at **$3,974 thousand**.  **[0000950170-24-124110_frog-20240930.htm:17]** 

What drove the surge in Intangible assets, net in Q3 2024?

The jump in **Goodwill** is primarily attributable to the **acquisition of Qwak AI Ltd. (Qwak)**, which closed in early July 2024. This acquisition contributed to a significant increase in goodwill as part of the purchase price allocation process.  **[0000950170-24-123318_frog-ex99_1.htm:8]** **[0000950170-24-124110_frog-20240930.htm:4]** **[FROG_3407340_3]** 

What explains the jump in Goodwill in Q3 2024?

Short-term investments dropped in Q2 2024 primarily because the company engaged in significant investment activities. While the documents do not provide specific reasons for the change, the cash flow statement reveals that there were **purchases of short-term investments amounting to $255,943 thousand** and **maturities and sales totaling $345,783 thousand** during the six months ended June 30, 2024, which likely contributed to the decrease in the reported balance.  **[0000950170-24-092801_frog-ex99_1.htm:7]** **[0000950170-24-093979_frog-20240630.htm:8]** 

Why did Short-term investments drop in Q2 2024?

aaa87145daa251b4d97e25a71bb33c46848d967a7456af43e0cae4b3ef6f466e

The turnaround in Q1 2024's Operating Cash Flow was driven by **three main factors**. First, there was a **lower net loss**, which improved from **$(20,809) thousand** in Q1 2023 to **$(8,790) thousand** in Q1 2024, significantly enhancing the operating cash position.  **[0000950170-24-057817_frog-20240331.htm:6]** **[0000950170-24-056979_frog-ex99_1.htm:7]**  Second, the company experienced **higher non-cash adjustments**, notably an increase in **share-based compensation expense** (from **$19,912 thousand** in Q1 2023 to **$27,286 thousand** in Q1 2024), which added considerable back into cash flow.  **[0000950170-24-057817_frog-20240331.htm:29]** **[0000950170-24-057817_frog-20240331.htm:6]** **[0000950170-24-056979_frog-ex99_1.htm:7]**  Finally, there were notable **changes in operating assets and liabilities**, including a decrease in accounts receivable and deferred revenue adjustments that positively impacted cash flow in Q1 2024.  **[0000950170-24-057817_frog-20240331.htm:29]** **[0000950170-24-057817_frog-20240331.htm:6]** 

What drove the turnaround in Operating Cash Flow in Q1 2024?

The **strong growth in Operating Cash Flow in FY 2024** was driven by several factors. First, **higher non-cash adjustments** played a significant role, including an increase in **share-based compensation expense** and **depreciation and amortization**, which boosted operating cash inflows.  **[0000950170-25-021340_frog-20241231.htm:99]** **[0000950170-25-021340_frog-20241231.htm:112]**  Second, there were **changes in operating assets and liabilities** where increases in deferred revenue and accrued expenses helped enhance cash flow, despite partially offsetting increases in accounts receivable and deferred contract acquisition costs.  **[0000950170-25-021340_frog-20241231.htm:99]** **[0000950170-25-021340_frog-20241231.htm:112]**  Lastly, **improved revenue growth**—with total revenue rising by **22% year-over-year**—contributed further to the higher cash inflows from operations.  **[0000950170-25-019881_frog-ex99_1.htm:0]** 

What factors contributed to the strong growth in Operating Cash Flow in FY 2024?

The sharp swing in overall cash change for **Q2 2024** was primarily driven by a **substantial net cash inflow of $135,188 thousand from investing activities**. This inflow was mainly due to the **maturities and sales of short‑term investments totaling $227,160 thousand**, which far exceeded the **$91,240 thousand** spent on purchasing short‑term investments. Additionally, **operating activities** contributed **$16,697 thousand** in cash inflow, while **financing activities** resulted in a **net cash outflow of $4,673 thousand** and minimal impact came from exchange rate effects (**$294 thousand** outflow).  **[0000950170-24-092801_frog-ex99_1.htm:8]** 

What caused the sharp swing in overall cash change in Q2 2024?

7d1faa391b707aac7fe1e1c360ed161525473211cb8e9f9c5fe8f1c62266262a

The documents do not provide specific reasons for the jump. However, they note that in **Q4 2022** the revenue from **License—self-managed** increased to **$5,592 thousand** (up from **$5,088 thousand** in the same quarter of the prior year) and suggest that this modest increase may have been influenced by an overall rise in total subscription revenue and the company's focus on expanding its cloud business and self-managed offerings.  **[0000950170-23-002140_frog-ex99_1.htm:6]** 

Why did License revenue jump in Q4 2022?

The surge in **Interest and other income, net** in Q4 2022 was primarily driven by **higher interest income** resulting from **higher interest rates on the company's deposits and marketable securities**.  **[0000950170-23-002329_frog-20221231.htm:95]** 

What drove the surge in Interest and other income in Q4 2022?

The reduction was driven by **lower acquisition-related costs** and the **elimination of legal settlement costs** in Q4 2022. Specifically, acquisition expenses decreased from **$134 thousand** in Q4 2021 to **$71 thousand** in Q4 2022, and legal settlement costs were completely absent in Q4 2022 compared to **$203 thousand** in Q4 2021.  **[0000950170-23-002140_frog-ex99_1.htm:6]** 

What led to the reduction in G&A expenses in Q4 2022?

Based on the documents, the Income tax expense did not drop in Q4 2022; it actually **increased** significantly compared to Q4 2021, rising from **$103 thousand** to **$1,238 thousand**.  **[0000950170-22-021863_frog-20220930.htm:31]** **[0000950170-23-017850_frog-20230331.htm:26]**  The reasons cited for this increase include the **mix of pre-tax income in different jurisdictions**, **non-deductible expenses** such as share-based compensation, **changes in the valuation allowance** on deferred tax assets, and broader **macroeconomic and operational factors**.  **[0000950170-22-021863_frog-20220930.htm:31]** **[0000950170-23-002329_frog-20221231.htm:91]** **[0000950170-23-017850_frog-20230331.htm:22]** **[FROG_3227361_4]** 

Jfrog Ltd (FROG)

Financials