Filing Flows › JFrog (FROG) › Q1 2025
JFrog (FROG) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 9, 2025
JFrog (FROG) reported revenue of $122M for the first quarter 2025 (Q1 2025), +22% from a year earlier and +5% from the quarter before. Operating margin was -18.8%, net loss $18.5M (15.1% of revenue).
JFrog, Q1 2025: revenue $122M (+22% year over year), operating margin -18.8%, net loss $18.5M, operating cash flow $28.8M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $122M | +5% | +22% |
| Operating profit | −$23.0M | — | — |
| Net earnings | −$18.5M | — | — |
| Operating cash flow | $28.8M | -41% | +65% |
| Free cash flow | $28.1M | — | +69% |
What changed
Revenue was $122.4M in Q1 2025, up 22% year over year and up 5% from the previous quarter. Subscription was the largest line at 52% of revenue. Saas added $15.7M year over year (up 42%), 71% of the total change.
Gross margin was 75.3%, down 4.1 points from a year earlier. Operating costs exceeded revenue by $23.0M, an operating margin of -18.8%. Operating expenses grew 20% against revenue growth of 22%. The fastest-growing cost line was Sales & marketing (+21%). The quarter ended with a net loss of $18.5M, narrower than the previous quarter's $23.2M loss. Non-operating items added $6.0M, -35% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $28.8M (up 65% year over year). Non-cash charges added back $6.7M of depreciation and amortization and $36.8M of share-based compensation. Working capital and other items added $3.7M. After purchases of property and equipment ($647K), free cash flow as the company reports it was $28.1M.
Questions
What was JFrog's revenue in the first quarter 2025?
JFrog (FROG) reported revenue of $122M for the first quarter 2025 (Q1 2025), +22% from a year earlier and +5% from the quarter before.
Was JFrog profitable in the first quarter 2025?
Operating loss was $23.0M (-18.8% of revenue) and net loss $18.5M.
Source: JFrog 10-Q on SEC EDGAR.