JFrog Q1 2023 Earnings Report
Key Takeaways
JFrog's Q1 2023 financial results showed a 25% year-over-year increase in total revenues, reaching $79.8 million. Cloud revenues increased by 49% year-over-year and represented 31% of total revenue. The company's non-GAAP profitability exceeded its guidance range.
Total revenue reached $79.8 million, a 25% increase year-over-year.
Cloud revenue grew by 49% year-over-year, accounting for 31% of total revenue.
Non-GAAP operating income was $2.7 million, resulting in a non-GAAP operating margin of 3.4%.
The net dollar retention rate for the trailing four quarters was 124%.
JFrog
JFrog
Forward Guidance
JFrog anticipates revenue between $82.5 million and $83.5 million and non-GAAP operating income between $3.0 million and $4.0 million for the second quarter of 2023. For the full fiscal year 2023, the company projects revenue between $341.5 million and $345.5 million and non-GAAP operating income between $19.0 million and $20.0 million.
Positive Outlook
- Revenue between $82.5 million and $83.5 million
- Non-GAAP operating income between $3.0 million and $4.0 million
- Non-GAAP net income per diluted share between $0.05 and $0.06
- Revenue between $341.5 million to $345.5 million
- Non-GAAP operating income between $19.0 million and $20.0 million