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JFrog cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$66.5M in Q3 2026 · $207M over twelve months

Operating cash flow$69.3M
Capital spending−$2.8M
Free cash flow+$66.5M
Cash / net income10.6×
Cash conversion cycle40 days

Analysis

In Q3 2026, JFrog generated $69.3M of operating cash flow and spent $2.8M on capital projects, leaving free cash flow of $66.5M. That is $37.7M more than in Q3 2025 ($28.8M).

Over the twelve months to Sep 30, 2026, operating cash flow was $215M; the largest uses were other investing ($233M), capital spending ($8.0M); besides operations, cash came from other financing ($14.5M), shares issued ($8.0M); the cash balance fell by $3.6M.

Operating cash flow was $69.3M against net income of $6.6M — 10.6× profit, cash ran ahead of reported earnings. The largest differences: stock-based pay +$41.8M, deferred revenue +$36.9M, payables +$7.4M.

Its cash conversion cycle was 40 days (receivables 70 + inventory 0 − payables 30).

Free cash flow

JFrog: free cash flow by quarterJFrog: free cash flow by quarter$48.5MQ4 2024$28.1MQ1 2025$35.5MQ2 2025$28.8MQ3 2025$49.9MQ4 2025$37.3MQ1 2026$53.7MQ2 2026$66.5MQ3 2026
Operating cash flow less capital spending.
JFrog: operating cash flow against capital spendingJFrog: operating cash flow against capital spendingOperating cash flowCapital spending$49.1M$634KQ4 2024$28.8M$647KQ1 2025$36.1M$627KQ2 2025$30.2M$1.3MQ3 2025$50.7M$840KQ4 2025$38.4M$1.1MQ1 2026$57.1M$3.3MQ2 2026$69.3M$2.8MQ3 2026
Latest (Q3 2026): Operating cash flow $69.3M, Capital spending $2.8M.

Capital allocation, year by year

JFrog: where the cash came from (up) and went (down), by fiscal yearJFrog: where the cash came from (up) and went (down), by fiscal yearOperating cash flowShares issuedCapital spendingAcquisitionsFY2021: Operating cash flow $27.9MFY2021: Shares issued $6.8MFY2021: Capital spending −$4.2MFY2021: Acquisitions −$196M$34.7MFY2021FY2022: Operating cash flow $21.4MFY2022: Shares issued $5.9MFY2022: Capital spending −$4.3MFY2022: Acquisitions −$179K$27.3MFY2022FY2023: Operating cash flow $74.2MFY2023: Shares issued $10.0MFY2023: Capital spending −$2.0M$84.1MFY2023FY2024: Operating cash flow $111MFY2024: Shares issued $10.4MFY2024: Capital spending −$3.1MFY2024: Acquisitions −$157M$121MFY2024FY2025: Operating cash flow $146MFY2025: Shares issued $12.1MFY2025: Capital spending −$3.5M$158MFY2025
Over these 5 years operating cash flow totalled $380M; the largest uses were acquisitions ($353M) and capital spending ($17.1M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$881M
Debtnone
Net cash$881M

JFrog funds itself: free cash flow was $207M over the last twelve months, with $881M of cash and investments and no debt on the balance sheet.

Where the cash came from and went

JFrog: sources (+) and uses (−) of cash, Q3 2026JFrog: sources (+) and uses (−) of cash, Q3 2026Other investing−$79.6MOperating cash flow$69.3MCash drawn (+) / kept (−)$21.9MOther financing−$9.5MCapital spending−$2.8MShares issued$1.1MExchange rates−$436K
JFrog: sources (+) and uses (−) of cash, TTM to Q3 2026JFrog: sources (+) and uses (−) of cash, TTM to Q3 2026Other investing−$233MOperating cash flow$215MOther financing$14.5MCapital spending−$8.0MShares issued$8.0MCash drawn (+) / kept (−)$3.6MExchange rates−$519K

From profit to cash

JFrog: net income to operating cash flow, Q3 2026JFrog: net income to operating cash flow, Q3 2026Net income$6.6MDepreciation & amortization$4.0MStock-based pay$41.8MReceivables−$1.1MPayables$7.4MAccrued liabilities−$6.3MDeferred revenue$36.9MPrepaid and other assets−$5.8MOperating cash flow$69.3M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202670—3040
Q2 202669—3138
Q1 202668—4127
Q4 202571—4526
Q3 202563—4221
Q2 202560—3227
Q1 202564—3133
Q4 202473—4329

Every quarter

QuarterOperating cash flowCapital spendingShares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$69.3M−$2.8M$1.1M$21.9M$66.5M
Q2 2026$57.1M−$3.3M$4.2M−$35.7M$53.7M
Q1 2026$38.4M−$1.1M$554K$14.9M$37.3M
Q4 2025$50.7M−$840K$2.1M$2.6M$49.9M
Q3 2025$30.2M−$1.3M$3.1M−$27.1M$28.8M
Q2 2025$36.1M−$627K$3.1M−$6.9M$35.5M
Q1 2025$28.8M−$647K$3.8M$5.5M$28.1M
Q4 2024$49.1M−$634K$1.5M$12.4M$48.5M

JFrog: income statement and cash flow

JFrog, Q3 2026: revenue $179M (+31% year over year), operating margin -1.0%. The chart follows the revenue to costs, profit and cash.

JFrog: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.