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Mar 31, 2024
JFrog Q1 2024 Earnings Report
JFrog's Q1 2024 financial results were announced, demonstrating strong growth and platform adoption.
Key Takeaways
JFrog reported a strong Q1 2024, exceeding guidance with a 26% year-over-year revenue increase to $100.3 million. Cloud revenue grew by 47%, representing 37% of total revenue. The company saw significant customer growth, particularly in the Enterprise+ subscription segment, which accounted for 49% of total revenue.
Total revenue reached $100.3 million, a 26% increase year-over-year.
Cloud revenue increased by 47% year-over-year, making up 37% of total revenue.
Customers with ARR greater than $1 million grew by 90% year-over-year, reaching 40.
Enterprise+ subscription revenues increased by 39% year-over-year, equaling $49 million.
Forward Guidance
JFrog anticipates revenue between $103 million and $104 million and non-GAAP operating income between $13 million and $14 million for the second quarter of 2024. For the full fiscal year 2024, the company projects revenue between $425.5 million and $429.5 million, and non-GAAP operating income between $56 million and $58 million.
Positive Outlook
- Revenue between $103 million and $104 million
- Non-GAAP operating income between $13 million and $14 million
- Non-GAAP net income per diluted share between $0.13 and $0.15
- Revenue between $425.5 million to $429.5 million
- Non-GAAP operating income between $56 million and $58 million
Historical Earnings Impact
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Avg. Return Before/After Earnings
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