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Dec 31, 2025
JFrog Q4 2025 Earnings Report
JFrog reported strong fourth quarter and fiscal year 2025 results, with significant growth in total and cloud revenues, and improved operating income.
Key Takeaways
JFrog announced robust financial results for the fourth quarter and fiscal year 2025, driven by strong execution of its strategy to serve as the System of Record for software artifacts. The company saw a 25% year-over-year increase in Q4 revenue and a 24% increase for the full fiscal year, alongside substantial growth in cloud revenues and customers with high Annual Recurring Revenue (ARR).
Total fiscal 2025 revenues reached $531.8 million, marking a 24% year-over-year increase.
Fiscal 2025 cloud revenues grew by 45% year-over-year to $243.3 million.
Customers with ARR greater than $1 million increased by 42% year-over-year, totaling 74.
Non-GAAP operating income for Q4 2025 was $25.7 million, with a non-GAAP operating margin of 17.7%.
Revenue by Segment
Forward Guidance
JFrog provided a positive outlook for the first quarter and full fiscal year 2026, anticipating continued revenue growth and non-GAAP operating income.
Positive Outlook
- First Quarter 2026 Revenue is projected between $146 million and $148 million.
- First Quarter 2026 Non-GAAP operating income is expected between $25 million and $26 million.
- Fiscal Year 2026 Revenue is projected between $623 million to $628 million.
- Fiscal Year 2026 Non-GAAP operating income is expected between $106 million and $108 million.
- Fiscal Year 2026 Non-GAAP net income per diluted share is projected between $0.88 and $0.92.
Challenges Ahead
- The outlook assumes approximately 127 million weighted average diluted shares outstanding for Q1 2026, which could impact per-share metrics.
- The non-GAAP guidance measures are subject to uncertainty regarding reconciling items like share-based compensation.
- The company did not provide specific GAAP guidance for future periods due to the difficulty in forecasting certain reconciling items.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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