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Mar 31, 2022
JFrog Q1 2022 Earnings Report
JFrog had a strong start to 2022, with revenue growth driven by increased adoption of the JFrog platform and security capabilities.
Key Takeaways
JFrog reported a 41% year-over-year increase in total revenue, reaching $63.7 million, with cloud revenue up 63% year-over-year. The company saw increased adoption of its platform and security capabilities, driving revenue acceleration, and a 52% growth in customers with ARR greater than $100k.
Total revenue reached $63.7 million, a 41% increase year-over-year.
Cloud revenue increased by 63% year-over-year.
Customers with ARR greater than $100k grew by 52% year-over-year to 599.
Net Dollar Retention rate for the trailing four quarters was 131%.
JFrog
JFrog
Forward Guidance
JFrog provided revenue and non-GAAP operating loss/income per share guidance for the second quarter and fiscal year 2022.
Positive Outlook
- Second Quarter 2022 Revenue between $65.0 million and $66.0 million
- Fiscal Year 2022 Revenue between $276.5 million to $278.5 million
- Fiscal Year 2022 Non-GAAP operating income between ($1.0) million and $1.0 million
- Fiscal Year 2022 Non-GAAP net income per share between ($0.01) and $0.01, assuming approximately 107 million weighted average diluted shares outstanding
- Second Quarter 2022 Non-GAAP net loss per share between ($0.03) and ($0.04), assuming approximately 99 million weighted average shares outstanding
Challenges Ahead
- Second Quarter 2022 Non-GAAP operating loss between ($2.5) million and ($3.5) million