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Dec 31, 2021
JFrog Q4 2021 Earnings Report
JFrog reported strong Q4 2021 results with revenue growth and increased customer expansion.
Key Takeaways
JFrog's Q4 2021 revenue reached $59.2 million, a 39% increase year-over-year. The company's customer base expanded, with a 53% increase in customers with ARR greater than $100K. Operating cash flow was $17.7 million, and free cash flow was $16.6 million.
Revenue for the fourth quarter of 2021 was $59.2 million, an increase of 39% over the fourth quarter of 2020.
Customers with ARR of $100K or more increased 53% to 537 customers as of December 31, 2021.
Cloud revenue in Q4 was $14.8 million, an increase of 52% over the same period last year, representing 25% of total revenue.
Net Dollar Retention rate for the trailing four quarters was 130%.
Forward Guidance
JFrog provided its outlook for Q1 2022 and fiscal year 2022, including revenue and non-GAAP operating income guidance.
Positive Outlook
- Revenue between $60.8 million and $61.8 million for Q1 2022.
- Non-GAAP operating income between ($0.5) million and $0.5 million for Q1 2022.
- Non-GAAP net income per share between ($0.01) and $0.01, assuming approximately 104 million weighted average diluted shares outstanding for Q1 2022.
- Revenue between $273.0 million to $275.0 million for fiscal year 2022.
- Non-GAAP operating income between ($1.0) million and $1.0 million for fiscal year 2022.
Challenges Ahead
- Non-GAAP operating income between ($0.5) million and $0.5 million for Q1 2022.
- Non-GAAP net income per share between ($0.01) and $0.01 for Q1 2022.
- Non-GAAP operating income between ($1.0) million and $1.0 million for fiscal year 2022.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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