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Dec 31, 2020
JFrog Q4 2020 Earnings Report
JFrog reported strong Q4 2020 results with revenue up 39% and record operating and free cash flow.
Key Takeaways
JFrog's Q4 2020 revenue reached $42.7 million, a 39% increase year-over-year, driven by strong demand for its DevOps platform and multi-cloud business. The company also achieved record operating cash flow of $12.8 million and free cash flow of $11.9 million.
Revenue for the fourth quarter of 2020 was $42.7 million, an increase of 39% from $30.8 million for the fourth quarter of 2019.
Operating Cash Flow was $12.8 million, with Free Cash Flow of $11.9 million.
At quarter end, 352 customers had ARR greater than $100,000; 10 customers had ARR above $1 million.
Net Dollar Retention for the trailing four quarters was 133%.
JFrog
JFrog
Forward Guidance
JFrog anticipates revenue between $44 million and $45 million for Q1 2021. They project non-GAAP operating income between $0.5 million and $1.5 million and non-GAAP net income per share between $0.00 and $0.01, assuming approximately 104 million weighted average diluted shares outstanding.
Positive Outlook
- Revenue between $44 million and $45 million.
- Non-GAAP operating income between $0.5 million and $1.5 million.
- Non-GAAP net income per share between $0.00 and $0.01.
- Approximately 104 million weighted average diluted shares outstanding.
- Full Year 2021 Revenue between $196 million to $204 million.
Challenges Ahead
- Non-GAAP operating income between $5 million and $7 million.
- Risks associated with managing our rapid growth
- Our history of losses
- Our limited operating history
- General market, political, economic, and business conditions