JFrog Q2 2021 Earnings Report
Key Takeaways
JFrog announced strong second-quarter results with revenue growth, gross margin improvement, and record cash flow. The company also completed the acquisition of Vdoo to enhance its security capabilities.
Revenue for the second quarter of 2021 was $48.7 million, an increase of 34% from $36.4 million for the second quarter of 2020.
GAAP Gross Profit was $39.6 million; GAAP Gross Margin was 81.4%.
Operating Cash Flow was $19.2 million, with Free Cash Flow of $18.0 million.
At quarter end, 415 customers had ARR greater than $100,000; 12 customers had ARR above $1 million.
JFrog
JFrog
Forward Guidance
JFrog anticipates revenue between $52 million and $53 million and a non-GAAP operating loss between $2.6 million and $3.6 million for the third quarter of 2021. For the full year 2021, the company projects revenue between $202 million and $205 million and a non-GAAP operating loss between $4 million and $5 million.
Positive Outlook
- Revenue between $52 million and $53 million for Q3 2021
- Full Year 2021 Revenue between $202 million to $205 million
Challenges Ahead
- Non-GAAP operating loss between $2.6 million and $3.6 million for Q3 2021
- Non-GAAP loss per share between $0.03 and $0.04 for Q3 2021
- Non-GAAP operating loss between $4 million and $5 million for full year 2021
- Non-GAAP loss per share between $0.04 and $0.05 for full year 2021