Loading...
•
Mar 31, 2021
JFrog Q1 2021 Earnings Report
JFrog's first quarter 2021 results announced, showing revenue growth and progress in customer acquisition.
Key Takeaways
JFrog reported a strong first quarter with a 37% increase in revenue, a net dollar retention rate of 130%, and growth in net new customer additions. The company also highlighted product innovation and an expanded footprint in APAC.
Revenue increased by 37% compared to the first quarter of 2020.
Net dollar retention rate was 130% for the trailing four quarters.
395 customers had ARR greater than $100,000, and 10 customers had ARR above $1 million.
Cloud revenue grew by 62% and represented 23% of total revenue.
JFrog
JFrog
Forward Guidance
JFrog provided outlook for the second quarter and full year 2021, including revenue and non-GAAP operating income guidance.
Positive Outlook
- Second Quarter 2021 Revenue between $47.6 million and $48.6 million
- Second Quarter 2021 Non-GAAP operating income between $0.5 million and $1.5 million
- Second Quarter 2021 Non-GAAP net income per share between $0.00 and $0.01
- Full Year 2021 Revenue between $198 million to $204 million
- Full Year 2021 Non-GAAP operating income between $5 million and $7 million
Challenges Ahead
- Approximately 3% increase in weighted average diluted shares
- Risks associated with managing rapid growth
- History of losses
- Ability to retain and upgrade existing customers
- Ability to attract new customers