Revenue: As of FY2025, the actual value is USD 531.84 M, beating the estimate of USD 524.6 M.EPS: As of FY2025, the actual value is USD -0.62, beating the estimate of USD -0.6663.EBIT: As of FY2025, the actual value is USD -118.35 M.<h3>Segment Revenue</h3>JFrog Ltd. reported total subscription revenue of $531.8 million for the year ended December 31, 2025, reflecting a 24% increase from $428.5 million in 2024. The 2024 revenue of $428.5 million grew by 22% from $349.9 million in 2023. Revenue growth in 2025 was primarily driven by approximately $93.9 million from existing customers .<h4>Revenue by Type (in thousands)</h4><ul><li>Subscription—Self-Managed and SaaS: $502,796 (95% of total revenue) in 2025, $406,903 (95% of total revenue) in 2024, and $330,193 (94% of total revenue) in 2023 .</li><li>License—Self-Managed: $29,044 (5% of total revenue) in 2025, $21,585 (5% of total revenue) in 2024, and $19,693 (6% of total revenue) in 2023 .</li></ul><h4>Revenue by Geographic Segment (in thousands)</h4><ul><li>United States: $316,493 (60% of total revenue) in 2025, $258,911 (60% of total revenue) in 2024, and $215,605 (62% of total revenue) in 2023 .</li><li>Israel: $16,424 (3% of total revenue) in 2025, $12,275 (3% of total revenue) in 2024, and $9,332 (3% of total revenue) in 2023 .</li><li>Rest of World: $198,923 (37% of total revenue) in 2025, $157,302 (37% of total revenue) in 2024, and $124,949 (35% of total revenue) in 2023 .Approximately 40% of total revenue in 2025 was generated from customers outside the United States .</li></ul><h3>Operational Metrics</h3><ul><li>Net Loss (in thousands): - $71,819 in 2025, - $69,236 in 2024, and - $61,256 in 2023 .</li><li>Gross Profit (in thousands): $408,387 in 2025, $330,188 in 2024, and $272,843 in 2023 .</li><li>Gross Margin: 77% in 2025, 77% in 2024, and 78% in 2023 .</li><li>Operating Expenses (in thousands):<ul><li>Research and Development: $195,089 (37% of total revenue) in 2025, a 21% increase from $160,864 (38% of total revenue) in 2024, and $134,584 (39% of total revenue) in 2023 .</li><li>Sales and Marketing: $223,932 (42% of total revenue) in 2025, an 18% increase from $190,401 (44% of total revenue) in 2024, and $150,675 (43% of total revenue) in 2023 .</li><li>General and Administrative: $81,219 (15% of total revenue) in 2025, a 16% increase from $70,021 (16% of total revenue) in 2024, and $63,132 (18% of total revenue) in 2023 .</li></ul></li><li>Operating Loss (in thousands): - $91,853 in 2025, - $91,098 in 2024, and - $75,548 in 2023 .</li><li>Interest and Other Income, Net (in thousands): $25,816 in 2025, $25,278 in 2024, and $21,032 in 2023 .</li><li>Income Tax Expense (in thousands): $5,782 in 2025, $3,416 in 2024, and $6,740 in 2023 .</li></ul><h3>Cash Flow (in thousands)</h3><ul><li>Net Cash Provided by Operating Activities: $145,729 in 2025, $110,924 in 2024, and $74,155 in 2023 .</li><li>Net Cash Used in Investing Activities: - $152,268 in 2025, - $165,356 in 2024, and - $53,476 in 2023 .</li><li>Net Cash Provided by Financing Activities: $31,210 in 2025, $21,231 in 2024, and $18,371 in 2023 .</li><li>Free Cash Flow: $142,269 in 2025, $107,781 in 2024, and $72,173 in 2023 .</li></ul><h3>Key Company-Specific Metrics</h3><ul><li>Customer Base: As of December 31, 2025, JFrog Ltd. had approximately 6,600 global organizations as customers, including about 83% of Fortune 100 organizations .</li><li>Customers with ARR of $100,000 or More: 1,168 customers in 2025, up from 1,018 in 2024. These customers accounted for 77% of ARR in 2025 and 72% in 2024 .</li><li>Customers with ARR of $1.0 Million or More: 74 customers in 2025, up from 52 in 2024 .</li><li>Net Dollar Retention Rate: 119% as of December 31, 2025, compared to 116% as of December 31, 2024 .</li><li>Enterprise Plus Subscription Revenue: Represented approximately 56% of total revenue in 2025, up from 51% in 2024 .</li><li>Employee Headcount: Approximately 1,800 employees as of December 31, 2025, an increase from 1,600 as of December 31, 2024 .</li></ul><h3>Outlook / Guidance Summary</h3>JFrog Ltd. anticipates a substantial increase in operating expenses as it continues to enhance products, expand its customer base, and invest in sales, marketing, research and development, and employee growth . Free cash flow is expected to fluctuate due to these growth investments . The company believes its existing cash, cash equivalents, short-term investments, and operating cash flow will be sufficient for both short-term and long-term needs .

JFrog | 10-K: FY2025 Revenue Beats Estimate at USD 531.84 M