Description
This is our first report on DevOps platform provider, JFrog. The company’s third-quarter 2023 financial results unveiled a solid performance, displaying strong growth in cloud consumption, wider adoption of its security solution, and increased enterprise scale adoption of their software supply chain platform. The company reported a revenue of $88.6 million, reflecting a 23% year-over-year growth. Most importantly, the year-over-year growth of JFrog’s cloud business rose by 46%, contributing $30.6 million to the total revenue. Non-GAAP profit stood at $16.6 million, generating a free cash flow of $25.4 million. The number of customers with Annual Recurring Revenue (ARR) over $100,000 grew 22% year-over-year to reach 848 compared to 696 in the year-ago period, while those with ARR over $1 million extended by six companies, bringing the total to 30, a 67% increase compared to Q3 2022.
Our Report Structure:
⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures
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