JFrog Ltd. (FROG) Stock Surged 13.12% Pre-Market, Here’s Why                                

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JFrog Ltd. (FROG) stock soared 13.12% in the pre-market trading session at the price of $40.10 after announcing its earnings report for the third quarter ended on 30th September 2021. FROG aims to be the platform empowering all of the world’s software updates. The company’s Liquid Software vision provides a secure and seamless flow of binaries from developers to the edge. 

FROG Third Quarter Fiscal 2021 Financial Results 

On 4th November 2021, FROG published its financial results for the third quarter ended 30th September 2021, and provided business updates. 


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Management Comments 

Chief executive officer of FROG, Shlomi Ben Haim remarked that they had achieved substantial growth across all of their metrics. It demonstrates the company’s dedication towards new business and existing consumers. They have performed extraordinarily on several fronts including revenue growth, technology innovation, cloud expansion, and gross margin. The company has started the second half of 2021 with powerful progress.  It will continue investing in technology and team to propel further growth, he added.  

FROG Financial Highlights 

FROG reported total revenue of $53.7 million for the third quarter ended 30th September 2021. It represents a 38% gain from $38.9 million in the same quarter of the previous year. For the second quarter of 2021, total revenue grew 34%.  Gross Profit totaled $42.2 million for the third quarter ended 30th September 2021. Gross Margin was roughly 78.7% in the third quarter of 2021. As of 30th September 2021, cash, cash equivalents, and investments totaled $402.4 million. 

FROG recorded a net loss of $0.21 per share for the third quarter ended 30th September 2021. Operating cash flow was ($17.7) million during the third quarter of 2021. For the third quarter of 2021, the company reported an operating loss of approximately $20.9 million. Operating margin (loss) was 38.9% in the third quarter of 2021. Free cash flow was roughly ($18.7) million for the third quarter ended 30th September 2021.  

Fourth Quarter and Full-Year Financial Outlook 

FROG anticipates revenue ranging from $57.5 million to $58.5 million for the fourth quarter of 2021. Revenue has expected to be from $205 million to $206 million for the full year of 2021.

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