JFrog Ltd(NASDAQ:FROG) 
JFrog Ltd. provides DevOps platform to achieve continuous software release management platform enabling organizations to deliver software updates across any system in the United States. Its platform acts as a bridge between software development and deployment, which enables organizations to build an...
Website: http://www.jfrog.com
Founded: 2008
IPO Price: $44 (Sep 16, 2020)
Full Time Employees: 1,300 (Dec 2022)
CEO / Founder: Shlomi Ben Haim
Sector: Technology
Industry: Software-Application
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At a glance:
Bull Thesis:
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Income Statements:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 |
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revenue: | |||||||||||||||||||||||
subscription—self-managed and saas | 146,282,000 | 136,408,000 | 128,892,000 | 121,071,000 | 116,425,000 | 109,606,000 | 103,487,000 | 98,404,000 | 95,406,000 | 92,052,000 | 84,131,000 | 79,467,000 | 74,543,000 | 70,954,000 | 67,750,000 | 63,679,000 | 59,069,000 | 54,148,000 | 49,248,000 | 45,312,000 | 41,338,000 | 38,806,000 | 35,714,000 |
license—self-managed | 7,695,000 | 8,898,000 | 8,015,000 | 6,149,000 | 5,982,000 | 6,472,000 | 5,569,000 | 4,639,000 | 4,905,000 | 5,208,000 | 4,505,000 | 4,703,000 | 5,277,000 | 5,592,000 | 4,241,000 | 4,128,000 | 4,627,000 | 5,088,000 | 4,455,000 | 3,345,000 | 3,749,000 | 3,883,000 | 3,172,000 |
total subscription revenue | 153,977,000 | 145,306,000 | 136,907,000 | 127,220,000 | 122,407,000 | 116,078,000 | 109,056,000 | 103,043,000 | 100,311,000 | 97,260,000 | 88,636,000 | 84,170,000 | 79,820,000 | 76,546,000 | 71,991,000 | 67,807,000 | 63,696,000 | 59,236,000 | 53,703,000 | 48,657,000 | 45,087,000 | 42,689,000 | 38,886,000 |
yoy | 25.79% | 25.18% | 25.54% | 23.46% | 22.03% | 19.35% | 23.04% | 22.42% | 25.67% | 27.06% | 23.12% | 24.13% | 25.31% | 29.22% | 34.05% | 39.36% | 41.27% | 38.76% | 38.10% | ||||
qoq | 5.97% | 6.13% | 7.61% | 3.93% | 5.45% | 6.44% | 5.84% | 2.72% | 3.14% | 9.73% | 5.31% | 5.45% | 4.28% | 6.33% | 6.17% | 6.45% | 7.53% | 10.30% | 10.37% | 7.92% | 5.62% | 9.78% | |
cost of revenue: | |||||||||||||||||||||||
total cost of revenue—subscription | 33,600,000 | 32,170,000 | 30,900,000 | 30,202,000 | 30,181,000 | 28,512,000 | 27,291,000 | 21,893,000 | 20,604,000 | 20,423,000 | 19,750,000 | 18,449,000 | 18,421,000 | 17,282,000 | 15,898,000 | 15,244,000 | 13,863,000 | 12,864,000 | 11,461,000 | 9,071,000 | 8,427,000 | 8,097,000 | 7,261,000 |
gross profit | 120,377,000 | 113,136,000 | 106,007,000 | 97,018,000 | 92,226,000 | 87,566,000 | 81,765,000 | 81,150,000 | 79,707,000 | 76,837,000 | 68,886,000 | 65,721,000 | 61,399,000 | 59,264,000 | 56,093,000 | 52,563,000 | 49,833,000 | 46,372,000 | 42,242,000 | 39,586,000 | 36,660,000 | 34,592,000 | 31,625,000 |
yoy | 30.52% | 29.20% | 29.65% | 19.55% | 15.71% | 13.96% | 18.70% | 23.48% | 29.82% | 29.65% | 22.81% | 25.03% | 23.21% | 27.80% | 32.79% | 32.78% | 35.93% | 34.05% | 33.57% | ||||
qoq | 6.40% | 6.73% | 9.27% | 5.20% | 5.32% | 7.09% | 0.76% | 1.81% | 3.74% | 11.54% | 4.82% | 7.04% | 3.60% | 5.65% | 6.72% | 5.48% | 7.46% | 9.78% | 6.71% | 7.98% | 5.98% | 9.38% | |
gross margin % | 78.18% | 77.86% | 77.43% | 76.26% | 75.34% | 75.44% | 74.98% | 78.75% | 79.46% | 79.00% | 77.72% | 78.08% | 76.92% | 77.42% | 77.92% | 77.52% | 78.24% | 78.28% | 78.66% | 81.36% | 81.31% | 81.03% | 81.33% |
operating expenses: | |||||||||||||||||||||||
research and development | 51,812,000 | 53,163,000 | 51,167,000 | 47,424,000 | 43,335,000 | 44,919,000 | 42,996,000 | 37,117,000 | 35,832,000 | 32,796,000 | 33,358,000 | 33,544,000 | 34,886,000 | 33,481,000 | 31,698,000 | 28,945,000 | 27,101,000 | 25,938,000 | 23,142,000 | 16,688,000 | 13,836,000 | 11,661,000 | 10,381,000 |
sales and marketing | 57,752,000 | 59,720,000 | 55,969,000 | 55,431,000 | 52,812,000 | 49,978,000 | 50,956,000 | 45,896,000 | 43,571,000 | 40,922,000 | 37,915,000 | 36,352,000 | 35,486,000 | 36,489,000 | 33,152,000 | 31,991,000 | 29,180,000 | 30,850,000 | 24,321,000 | 22,026,000 | 19,765,000 | 18,192,000 | 14,839,000 |
general and administrative | 23,744,000 | 21,575,000 | 20,461,000 | 20,134,000 | 19,049,000 | 18,084,000 | 17,733,000 | 17,264,000 | 16,940,000 | 18,497,000 | 15,663,000 | 14,732,000 | 14,240,000 | 14,146,000 | 14,682,000 | 14,037,000 | 12,691,000 | 12,194,000 | 15,695,000 | 15,103,000 | 13,671,000 | 12,771,000 | 11,804,000 |
total operating expenses | 133,308,000 | 134,458,000 | 127,597,000 | 122,989,000 | 115,196,000 | 112,981,000 | 111,685,000 | 100,277,000 | 96,343,000 | 92,215,000 | 86,936,000 | 84,628,000 | 84,612,000 | 84,116,000 | 79,532,000 | 74,973,000 | 68,972,000 | 68,982,000 | 63,158,000 | 53,817,000 | 47,272,000 | 42,624,000 | 37,024,000 |
operating income | -12,931,000 | -21,322,000 | -21,590,000 | -25,971,000 | -22,970,000 | -25,415,000 | -29,920,000 | -19,127,000 | -16,636,000 | -15,378,000 | -18,050,000 | -18,907,000 | -23,213,000 | -24,852,000 | -23,439,000 | -22,410,000 | -19,139,000 | -22,610,000 | -20,916,000 | -14,231,000 | -10,612,000 | -8,032,000 | -5,399,000 |
yoy | -43.70% | -16.10% | -27.84% | 35.78% | 38.07% | 65.27% | 65.76% | 1.16% | -28.33% | -38.12% | -22.99% | -15.63% | 21.29% | 9.92% | 12.06% | 57.47% | 80.35% | 181.50% | 287.41% | ||||
qoq | -39.35% | -1.24% | -16.87% | 13.06% | -9.62% | -15.06% | 56.43% | 14.97% | 8.18% | -14.80% | -4.53% | -18.55% | -6.60% | 6.03% | 4.59% | 17.09% | -15.35% | 8.10% | 46.97% | 34.10% | 32.12% | 48.77% | |
operating margin % | -8.40% | -14.67% | -15.77% | -20.41% | -18.77% | -21.89% | -27.44% | -18.56% | -16.58% | -15.81% | -20.36% | -22.46% | -29.08% | -32.47% | -32.56% | -33.05% | -30.05% | -38.17% | -38.95% | -29.25% | -23.54% | -18.82% | -13.88% |
interest and other income | 7,152,000 | 6,869,000 | 6,677,000 | 6,305,000 | 5,965,000 | 5,588,000 | 5,705,000 | 6,898,000 | 7,087,000 | 6,411,000 | 5,733,000 | 4,896,000 | 3,992,000 | 2,935,000 | 1,369,000 | 517,000 | 273,000 | 18,000 | 20,000 | 346,000 | 360,000 | 523,000 | 384,000 |
income before income taxes | -5,779,000 | -14,453,000 | -14,913,000 | -19,666,000 | -17,005,000 | -19,827,000 | -24,215,000 | -12,229,000 | -9,549,000 | -8,967,000 | -12,317,000 | -14,011,000 | -19,221,000 | -21,917,000 | -22,070,000 | -21,893,000 | -18,866,000 | -22,592,000 | -20,896,000 | -13,885,000 | -10,252,000 | -7,509,000 | -5,015,000 |
income tax expense | 2,488,000 | 757,000 | 1,518,000 | 2,009,000 | 1,498,000 | 3,371,000 | -1,270,000 | 2,074,000 | -759,000 | 2,266,000 | 1,430,000 | 1,456,000 | 1,588,000 | 1,238,000 | 1,482,000 | 1,880,000 | 838,000 | 103,000 | -432,000 | -736,000 | -2,357,000 | ||
net income | -8,267,000 | -15,210,000 | -16,431,000 | -21,675,000 | -18,503,000 | -23,198,000 | -22,945,000 | -14,303,000 | -8,790,000 | -11,233,000 | -13,747,000 | -15,467,000 | -20,809,000 | -23,155,000 | -23,552,000 | -23,773,000 | -19,704,000 | -22,695,000 | -20,464,000 | -13,149,000 | -7,895,000 | -3,714,000 | -5,265,000 |
yoy | -55.32% | -34.43% | -28.39% | 51.54% | 110.50% | 106.52% | 66.91% | -7.53% | -57.76% | -51.49% | -41.63% | -34.94% | 5.61% | 2.03% | 15.09% | 80.80% | 149.58% | 511.07% | 288.68% | ||||
qoq | -45.65% | -7.43% | -24.19% | 17.14% | -20.24% | 1.10% | 60.42% | 62.72% | -21.75% | -18.29% | -11.12% | -25.67% | -10.13% | -1.69% | -0.93% | 20.65% | -13.18% | 10.90% | 55.63% | 66.55% | 112.57% | -29.46% | |
net income margin % | -5.37% | -10.47% | -12.00% | -17.04% | -15.12% | -19.98% | -21.04% | -13.88% | -8.76% | -11.55% | -15.51% | -18.38% | -26.07% | -30.25% | -32.72% | -35.06% | -30.93% | -38.31% | -38.11% | -27.02% | -17.51% | -8.70% | -13.54% |
net income per share | -0.07 | -0.13 | -0.14 | -0.19 | -0.16 | -0.21 | -0.21 | -0.13 | -0.08 | -0.1 | -0.13 | -0.15 | -0.21 | -0.23 | -0.24 | -0.24 | -0.2 | -0.24 | -0.21 | -0.09 | -0.02 | -0.14 | |
weighted-average shares used for eps calculation | 120,159,190 | 116,200,900 | 117,263,245 | 115,250,067 | 113,447,099 | 109,691,100 | 110,771,942 | 108,944,738 | 107,025,351 | 103,317,759 | 104,134,649 | 102,512,578 | 101,260,549 | 99,243,894 | 99,617,687 | 98,955,711 | 97,883,814 | 94,783,082 | 95,707,062 | 92,679,756 | 46,488,225 | 37,515,828 | |
undistributed earnings attributable to participating securities | |||||||||||||||||||||||
net income attributable to ordinary shareholders | -13,149,000 | ||||||||||||||||||||||
net income per share | -0.07 | -0.13 | -0.14 | -0.19 | -0.16 | -0.21 | -0.21 | -0.13 | -0.08 | -0.1 | -0.13 | -0.15 | -0.21 | -0.23 | -0.24 | -0.24 | -0.2 | -0.24 | -0.21 | -0.09 | -0.02 | -0.14 | |
basic | -0.14 | ||||||||||||||||||||||
diluted | -0.14 | ||||||||||||||||||||||
weighted-average shares used for eps calculation | 120,159,190 | 116,200,900 | 117,263,245 | 115,250,067 | 113,447,099 | 109,691,100 | 110,771,942 | 108,944,738 | 107,025,351 | 103,317,759 | 104,134,649 | 102,512,578 | 101,260,549 | 99,243,894 | 99,617,687 | 98,955,711 | 97,883,814 | 94,783,082 | 95,707,062 | 92,679,756 | 46,488,225 | 37,515,828 | |
basic | 93,665,527 | ||||||||||||||||||||||
diluted | 93,665,527 | ||||||||||||||||||||||
provision for income taxes | 263,250 | 250,000 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 |
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assets | |||||||||||||||||||||||
current assets: | |||||||||||||||||||||||
cash and cash equivalents | 60,966,000 | 75,840,000 | 78,355,000 | 51,277,000 | 44,350,000 | 49,869,000 | 62,246,000 | 218,303,000 | 71,385,000 | 84,765,000 | 60,984,000 | 46,694,000 | 40,346,000 | 45,595,000 | 53,971,000 | 55,194,000 | 59,577,000 | 68,284,000 | 84,607,000 | 259,220,000 | 146,676,000 | 164,461,000 | 324,288,000 |
short-term investments | 680,278,000 | 628,574,000 | 572,703,000 | 560,423,000 | 519,157,000 | 472,138,000 | 405,540,000 | 373,013,000 | 508,229,000 | 460,245,000 | 441,194,000 | 423,100,000 | 406,818,000 | 397,605,000 | 380,031,000 | 374,957,000 | 368,073,000 | 352,844,000 | 317,776,000 | 356,005,000 | 458,977,000 | 433,595,000 | 253,748,000 |
accounts receivable | 113,708,000 | 119,948,000 | 104,404,000 | 83,016,000 | 84,296,000 | 90,712,000 | 92,892,000 | 82,041,000 | 66,570,000 | 76,437,000 | 60,922,000 | 62,498,000 | 63,184,000 | 62,117,000 | 49,037,000 | 53,004,000 | 49,389,000 | 50,483,000 | 43,845,000 | 36,070,000 | 51,423,000 | 37,048,000 | 25,543,000 |
deferred contract acquisition costs | 23,011,000 | 22,259,000 | 19,593,000 | 18,143,000 | 17,094,000 | 16,465,000 | 14,929,000 | 12,662,000 | 11,869,000 | 11,378,000 | 10,211,000 | 9,063,000 | 8,568,000 | 8,102,000 | 7,390,000 | 6,643,000 | 5,949,000 | 5,271,000 | 4,491,000 | 3,952,000 | 3,655,000 | 3,247,000 | 2,864,000 |
prepaid expenses and other current assets | 26,844,000 | 26,390,000 | 25,115,000 | 24,344,000 | 17,237,000 | 20,043,000 | 17,769,000 | 17,169,000 | 17,569,000 | 12,976,000 | 13,924,000 | 16,955,000 | 20,944,000 | 18,603,000 | 18,620,000 | 20,390,000 | 24,363,000 | 22,140,000 | 19,031,000 | 13,288,000 | 14,430,000 | 14,210,000 | 11,249,000 |
total current assets | 904,807,000 | 873,011,000 | 800,170,000 | 737,203,000 | 682,134,000 | 649,227,000 | 593,376,000 | 703,188,000 | 675,622,000 | 645,801,000 | 587,235,000 | 558,310,000 | 539,860,000 | 532,022,000 | 509,049,000 | 510,188,000 | 507,351,000 | 499,022,000 | 469,750,000 | 668,535,000 | 675,161,000 | 652,561,000 | 617,692,000 |
property and equipment | 6,504,000 | 5,536,000 | 5,692,000 | 5,719,000 | 5,543,000 | 5,668,000 | 6,051,000 | 6,529,000 | 6,473,000 | 6,663,000 | 6,582,000 | 7,028,000 | 7,482,000 | 8,021,000 | 8,050,000 | 7,650,000 | 7,377,000 | 6,689,000 | 6,421,000 | 6,231,000 | 5,598,000 | 4,963,000 | 4,497,000 |
deferred contract acquisition costs, noncurrent | 34,293,000 | 34,304,000 | 28,562,000 | 26,456,000 | 25,151,000 | 25,029,000 | 22,631,000 | 18,316,000 | 17,727,000 | 18,032,000 | 16,161,000 | 14,134,000 | 13,828,000 | 13,501,000 | 12,471,000 | 11,354,000 | 10,499,000 | 9,120,000 | 7,550,000 | 6,524,000 | 5,925,000 | 4,949,000 | 4,119,000 |
operating lease right-of-use assets | 16,163,000 | 12,063,000 | 11,148,000 | 13,703,000 | 12,600,000 | 14,202,000 | 16,268,000 | 18,372,000 | 20,323,000 | 22,427,000 | 25,212,000 | 27,361,000 | 25,447,000 | 24,602,000 | 23,738,000 | 25,585,000 | 24,235,000 | 25,999,000 | 27,421,000 | 19,231,000 | 20,611,000 | ||
intangible assets | 35,235,000 | 39,908,000 | 44,581,000 | 49,343,000 | 55,009,000 | 60,826,000 | 66,739,000 | 19,990,000 | 22,879,000 | 25,768,000 | 28,657,000 | 31,618,000 | 34,581,000 | 37,544,000 | 40,524,000 | 42,296,000 | 45,138,000 | 47,980,000 | 50,835,000 | 3,302,000 | 3,674,000 | 4,047,000 | 4,419,000 |
goodwill | 371,512,000 | 371,512,000 | 371,512,000 | 371,512,000 | 371,512,000 | 371,512,000 | 371,377,000 | 247,955,000 | 247,955,000 | 247,955,000 | 247,955,000 | 247,955,000 | 247,955,000 | 247,955,000 | 247,955,000 | 247,955,000 | 247,955,000 | 247,776,000 | 247,776,000 | 17,320,000 | 17,320,000 | 17,320,000 | 17,320,000 |
other assets, noncurrent | 4,694,000 | 5,043,000 | 3,867,000 | 4,249,000 | 4,280,000 | 3,442,000 | 4,447,000 | 6,793,000 | 6,101,000 | 5,910,000 | 7,805,000 | 8,715,000 | 9,585,000 | 7,576,000 | 10,838,000 | 12,649,000 | 13,841,000 | 15,942,000 | 19,926,000 | 7,665,000 | 6,722,000 | 5,391,000 | 5,920,000 |
total assets | 1,373,208,000 | 1,341,377,000 | 1,265,532,000 | 1,208,185,000 | 1,156,229,000 | 1,129,906,000 | 1,080,889,000 | 1,021,143,000 | 997,080,000 | 972,556,000 | 919,607,000 | 895,121,000 | 878,738,000 | 871,221,000 | 852,625,000 | 857,677,000 | 856,396,000 | 852,528,000 | 829,679,000 | 728,808,000 | 735,011,000 | 689,231,000 | 653,967,000 |
liabilities and shareholders’ equity | |||||||||||||||||||||||
current liabilities: | |||||||||||||||||||||||
accounts payable | 16,627,000 | 14,168,000 | 17,221,000 | 11,262,000 | 10,225,000 | 10,649,000 | 16,282,000 | 16,222,000 | 14,247,000 | 16,970,000 | 14,712,000 | 13,097,000 | 14,089,000 | 14,867,000 | 13,122,000 | 13,332,000 | 12,050,000 | 10,868,000 | 9,705,000 | 9,742,000 | 8,957,000 | 9,911,000 | 8,849,000 |
accrued expenses and other current liabilities | 67,183,000 | 77,970,000 | 62,306,000 | 67,915,000 | 51,413,000 | 51,885,000 | 43,803,000 | 39,958,000 | 39,597,000 | 35,815,000 | 32,083,000 | 31,724,000 | 29,199,000 | 28,848,000 | 28,966,000 | 34,641,000 | 28,891,000 | 27,954,000 | 19,638,000 | 17,316,000 | 23,777,000 | 21,039,000 | 11,988,000 |
operating lease liabilities | 5,220,000 | 5,780,000 | 7,056,000 | 7,479,000 | 7,376,000 | 7,794,000 | 8,150,000 | 8,109,000 | 8,135,000 | 8,272,000 | 8,163,000 | 8,272,000 | 7,453,000 | 7,132,000 | 6,928,000 | 7,035,000 | 7,205,000 | 7,293,000 | 6,917,000 | 4,751,000 | 4,876,000 | ||
deferred revenue | 311,135,000 | 309,604,000 | 281,029,000 | 260,066,000 | 250,145,000 | 247,187,000 | 223,985,000 | 205,501,000 | 198,240,000 | 201,118,000 | 179,446,000 | 170,967,000 | 162,921,000 | 158,725,000 | 143,199,000 | 138,721,000 | 134,611,000 | 129,149,000 | 110,905,000 | 102,752,000 | 102,432,000 | 91,750,000 | 78,280,000 |
total current liabilities | 400,165,000 | 407,522,000 | 367,612,000 | 346,722,000 | 319,159,000 | 317,515,000 | 292,220,000 | 269,790,000 | 260,219,000 | 262,175,000 | 234,404,000 | 224,060,000 | 213,662,000 | 209,572,000 | 192,215,000 | 193,729,000 | 182,757,000 | 175,264,000 | 147,165,000 | 134,561,000 | 140,042,000 | 122,700,000 | 99,117,000 |
deferred revenue, noncurrent | 30,336,000 | 32,400,000 | 27,751,000 | 21,827,000 | 25,402,000 | 27,060,000 | 20,257,000 | 15,822,000 | 12,972,000 | 12,987,000 | 12,489,000 | 13,441,000 | 15,506,000 | 16,990,000 | 16,535,000 | 18,346,000 | 17,772,000 | 17,957,000 | 16,013,000 | 16,413,000 | 18,542,000 | 11,087,000 | 8,014,000 |
operating lease liabilities, noncurrent | 11,227,000 | 6,676,000 | 4,092,000 | 6,360,000 | 4,793,000 | 6,182,000 | 7,693,000 | 9,651,000 | 11,705,000 | 13,954,000 | 15,903,000 | 18,241,000 | 17,355,000 | 16,829,000 | 15,999,000 | 18,034,000 | 17,943,000 | 20,014,000 | 21,118,000 | 14,747,000 | 15,897,000 | ||
other liabilities, noncurrent | 7,482,000 | 7,332,000 | 6,659,000 | 6,822,000 | 6,839,000 | 5,623,000 | 4,513,000 | 4,447,000 | 4,382,000 | 4,317,000 | 3,713,000 | 3,487,000 | 3,285,000 | 3,057,000 | 2,958,000 | 2,144,000 | 1,406,000 | 712,000 | 1,140,000 | 1,140,000 | 1,132,000 | 1,550,000 | 458,000 |
total liabilities | 449,210,000 | 453,930,000 | 406,114,000 | 381,731,000 | 356,193,000 | 356,380,000 | 324,683,000 | 299,710,000 | 289,278,000 | 293,433,000 | 266,509,000 | 259,229,000 | 249,808,000 | 246,448,000 | 227,707,000 | 232,253,000 | 219,878,000 | 213,947,000 | 185,436,000 | 166,861,000 | 175,613,000 | 135,337,000 | 107,589,000 |
commitments and contingencies | |||||||||||||||||||||||
shareholders’ equity: | |||||||||||||||||||||||
preferred shares, nis 0.01 par value per share... | |||||||||||||||||||||||
ordinary shares, nis 0.01 par value per share... | 340,000 | 335,000 | 331,000 | 326,000 | 320,000 | 315,000 | 312,000 | 308,000 | 303,000 | 297,000 | 294,000 | 290,000 | 286,000 | 283,000 | 281,000 | 278,000 | 276,000 | 272,000 | 269,000 | 262,000 | 261,000 | 257,000 | 254,000 |
additional paid-in capital | 1,361,165,000 | 1,312,833,000 | 1,269,810,000 | 1,220,235,000 | 1,179,110,000 | 1,132,224,000 | 1,091,910,000 | 1,036,377,000 | 1,006,865,000 | 968,245,000 | 935,445,000 | 904,531,000 | 881,002,000 | 856,438,000 | 834,900,000 | 811,961,000 | 795,808,000 | 776,690,000 | 760,378,000 | 657,509,000 | 642,090,000 | 628,054,000 | 616,860,000 |
accumulated other comprehensive income | 2,247,000 | 5,766,000 | 5,554,000 | 5,739,000 | -1,223,000 | 655,000 | 454,000 | -1,727,000 | -144,000 | 1,013,000 | -2,772,000 | -4,242,000 | -4,346,000 | -870,000 | 611,000 | -107,000 | 9,000 | -269,000 | 372,000 | 339,000 | |||
accumulated deficit | -439,754,000 | -431,487,000 | -416,277,000 | -399,846,000 | -378,171,000 | -359,668,000 | -336,470,000 | -313,525,000 | -299,222,000 | -290,432,000 | -279,199,000 | -265,452,000 | -249,985,000 | -229,176,000 | -206,021,000 | -182,469,000 | -158,696,000 | -138,992,000 | -116,297,000 | -95,833,000 | -82,684,000 | -74,789,000 | -71,075,000 |
total shareholders’ equity | 923,998,000 | 887,447,000 | 859,418,000 | 826,454,000 | 800,036,000 | 773,526,000 | 756,206,000 | 721,433,000 | 707,802,000 | 679,123,000 | 653,098,000 | 635,892,000 | 628,930,000 | 624,773,000 | 624,918,000 | 625,424,000 | 636,518,000 | 638,581,000 | 644,243,000 | 561,947,000 | 559,398,000 | 553,894,000 | 546,378,000 |
total liabilities and shareholders’ equity | 1,373,208,000 | 1,341,377,000 | 1,265,532,000 | 1,208,185,000 | 1,156,229,000 | 1,129,906,000 | 1,080,889,000 | 1,021,143,000 | 997,080,000 | 972,556,000 | 919,607,000 | 895,121,000 | 878,738,000 | 871,221,000 | 852,625,000 | 857,677,000 | 856,396,000 | 852,528,000 | 829,679,000 | 728,808,000 | 735,011,000 | ||
accumulated other comprehensive loss | -3,442,000 | -3,477,000 | -2,373,000 | ||||||||||||||||||||
liabilities, convertible preferred shares and shareholders’ equity | |||||||||||||||||||||||
convertible preferred shares, nis 0.01 par value per share... | |||||||||||||||||||||||
shareholders’ equity | |||||||||||||||||||||||
total liabilities, convertible preferred shares and shareholders’ equity | 689,231,000 | 653,967,000 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
cash flows from operating activities: | |||||||||||||||||||||
net loss | -15,210,000 | -16,431,000 | -21,675,000 | -18,503,000 | -23,198,000 | -22,945,000 | -14,303,000 | -8,790,000 | -11,233,000 | -13,747,000 | -15,467,000 | -20,809,000 | -23,155,000 | -23,552,000 | -23,773,000 | -19,704,000 | -22,695,000 | -20,464,000 | -13,149,000 | -7,895,000 | -3,714,000 |
adjustments to reconcile net loss to net cash from operating activities: | |||||||||||||||||||||
depreciation and amortization | 5,572,000 | 5,661,000 | 6,556,000 | 6,714,000 | 6,855,000 | 6,980,000 | 3,826,000 | 3,799,000 | 3,791,000 | 3,837,000 | 3,828,000 | 3,847,000 | 3,866,000 | 3,698,000 | 3,572,000 | 3,519,000 | 3,606,000 | 3,058,000 | 1,076,000 | 1,006,000 | 977,000 |
share-based compensation expense | 40,943,000 | 40,860,000 | 38,009,000 | 36,845,000 | 38,769,000 | 36,395,000 | 28,656,000 | 27,286,000 | 28,251,000 | 25,686,000 | 21,322,000 | 19,912,000 | 20,293,000 | 19,217,000 | 15,077,000 | 14,074,000 | 14,238,000 | 16,857,000 | 14,104,000 | 11,750,000 | 9,453,000 |
non-cash operating lease expense | 2,542,000 | 2,159,000 | 2,155,000 | 2,118,000 | 2,066,000 | 2,104,000 | 2,115,000 | 2,104,000 | 2,163,000 | 2,149,000 | 2,123,000 | 2,022,000 | 1,908,000 | 1,847,000 | 1,796,000 | 1,806,000 | 1,810,000 | 1,640,000 | 1,380,000 | 1,278,000 | |
net amortization of premium or discount on investments | -1,043,000 | -1,166,000 | -1,472,000 | -1,559,000 | -1,432,000 | -1,388,000 | -1,738,000 | -2,008,000 | -1,817,000 | -1,718,000 | -1,582,000 | -1,288,000 | -660,000 | 626,000 | 760,000 | 1,628,000 | 1,040,000 | 1,596,000 | 1,543,000 | 1,343,000 | |
losses on foreign exchange | -142,000 | -344,000 | -251,000 | -82,000 | 282,000 | 6,000 | 101,000 | 253,000 | 448,000 | ||||||||||||
changes in operating assets and liabilities, net of effects of business combinations: | |||||||||||||||||||||
accounts receivable | -15,406,000 | -21,648,000 | 1,231,000 | 6,495,000 | 2,270,000 | -10,227,000 | -15,336,000 | 9,781,000 | -15,446,000 | 1,558,000 | 617,000 | -838,000 | -12,401,000 | 3,736,000 | -3,615,000 | 1,094,000 | -6,638,000 | -7,150,000 | 15,353,000 | -14,375,000 | -11,505,000 |
prepaid expenses and other assets | -2,518,000 | -1,523,000 | -1,634,000 | 184,000 | -898,000 | -1,905,000 | -986,000 | -4,032,000 | 1,632,000 | 2,491,000 | 1,153,000 | -3,114,000 | 4,181,000 | 969,000 | 5,025,000 | -889,000 | 969,000 | -17,311,000 | 1,013,000 | -2,386,000 | -2,712,000 |
deferred contract acquisition costs | -8,408,000 | -3,556,000 | -2,354,000 | -751,000 | -3,934,000 | -6,582,000 | -1,382,000 | -186,000 | -3,038,000 | -3,175,000 | -801,000 | -793,000 | -1,742,000 | -1,864,000 | -1,549,000 | -2,057,000 | -2,350,000 | -1,565,000 | -896,000 | -1,384,000 | -1,213,000 |
accounts payable | -3,094,000 | 6,693,000 | 647,000 | -628,000 | -5,648,000 | -732,000 | 1,579,000 | -2,516,000 | 1,824,000 | 1,794,000 | -827,000 | -1,086,000 | 1,974,000 | -99,000 | 1,267,000 | 960,000 | 1,183,000 | -510,000 | 785,000 | -954,000 | 2,648,000 |
accrued expenses and other liabilities | 16,474,000 | -5,227,000 | 10,662,000 | -1,134,000 | 5,881,000 | 5,066,000 | 6,105,000 | -3,213,000 | 5,746,000 | 1,905,000 | 2,620,000 | 410,000 | -947,000 | -2,268,000 | 3,933,000 | 1,524,000 | 7,426,000 | 957,000 | 1,048,000 | 3,658,000 | 1,446,000 |
operating lease liabilities | -2,239,000 | -2,208,000 | -2,135,000 | -2,207,000 | -1,900,000 | -2,040,000 | -2,051,000 | -2,116,000 | -1,898,000 | -2,048,000 | -2,033,000 | -1,737,000 | -1,846,000 | -1,786,000 | -3,225,000 | -2,201,000 | -1,116,000 | -1,293,000 | -1,275,000 | -1,367,000 | |
deferred revenue | 33,224,000 | 26,887,000 | 6,346,000 | 1,300,000 | 30,005,000 | 22,908,000 | 10,111,000 | -2,893,000 | 22,170,000 | 7,527,000 | 5,981,000 | 2,712,000 | 15,981,000 | 2,667,000 | 4,684,000 | 5,277,000 | 20,188,000 | 6,442,000 | -1,809,000 | 18,137,000 | 16,543,000 |
net cash from operating activities | 50,695,000 | 30,157,000 | 36,085,000 | 28,792,000 | 49,118,000 | 27,640,000 | 16,697,000 | 17,469,000 | 32,593,000 | 25,981,000 | 16,710,000 | -1,129,000 | 7,314,000 | 5,128,000 | 3,952,000 | 5,031,000 | 17,661,000 | -17,743,000 | 19,173,000 | 8,811,000 | 12,816,000 |
capital expenditures | -840,000 | -1,346,000 | -627,000 | -647,000 | -634,000 | -936,000 | -732,000 | -841,000 | -618,000 | -591,000 | -507,000 | -266,000 | -891,000 | -1,306,000 | -988,000 | -1,143,000 | -1,038,000 | -916,000 | -1,139,000 | -1,135,000 | -911,000 |
free cash flows | 49,855,000 | 28,811,000 | 35,458,000 | 28,145,000 | 48,484,000 | 26,704,000 | 15,965,000 | 16,628,000 | 31,975,000 | 25,390,000 | 16,203,000 | -1,395,000 | 6,423,000 | 3,822,000 | 2,964,000 | 3,888,000 | 16,623,000 | -18,659,000 | 18,034,000 | 7,676,000 | 11,905,000 |
cash flows from investing activities: | |||||||||||||||||||||
purchases of short-term investments | -182,650,000 | -159,075,000 | -135,174,000 | -148,968,000 | -134,045,000 | -123,603,000 | -91,240,000 | -164,703,000 | -89,096,000 | -98,738,000 | -81,356,000 | -123,216,000 | -105,527,000 | -124,436,000 | -89,068,000 | -92,211,000 | -95,645,000 | -19,460,000 | -62,634,000 | -88,580,000 | -214,961,000 |
maturities of short-term investments | 127,979,000 | 148,994,000 | 96,253,000 | 103,833,000 | 61,825,000 | 32,004,000 | |||||||||||||||
sales of short-term investments | 2,035,000 | ||||||||||||||||||||
purchases of property and equipment | -840,000 | -1,346,000 | -627,000 | -647,000 | -634,000 | -936,000 | -732,000 | -841,000 | -618,000 | -591,000 | -507,000 | -266,000 | -891,000 | -1,306,000 | -988,000 | -1,143,000 | -1,038,000 | -916,000 | -1,139,000 | -1,135,000 | -911,000 |
payments for business combinations, net of cash acquired | 0 | ||||||||||||||||||||
net cash from investing activities | -55,511,000 | -11,427,000 | -39,548,000 | -45,782,000 | -65,654,000 | -187,969,000 | 135,188,000 | -46,921,000 | -15,649,000 | -15,653,000 | -13,018,000 | -9,156,000 | -17,482,000 | -8,136,000 | -8,824,000 | -18,896,000 | -37,302,000 | -160,109,000 | 99,756,000 | -27,890,000 | -181,833,000 |
cash flows from financing activities: | |||||||||||||||||||||
proceeds from exercise of share options | 2,084,000 | 3,097,000 | 3,122,000 | 3,752,000 | 1,548,000 | 1,097,000 | 861,000 | 6,846,000 | 4,552,000 | 2,066,000 | 2,211,000 | 1,156,000 | 1,247,000 | 1,802,000 | 1,078,000 | 1,795,000 | 2,077,000 | 1,154,000 | 1,316,000 | 2,290,000 | 1,744,000 |
proceeds from employee share purchase plan | 0 | 5,623,000 | 0 | 6,294,000 | 0 | 4,250,000 | 0 | 4,494,000 | 0 | 3,166,000 | 0 | 3,499,000 | 0 | 1,923,000 | 0 | 3,253,000 | 0 | ||||
proceeds from employee equity transactions, net of payments to tax authorities and employees | |||||||||||||||||||||
net cash from financing activities | 2,022,000 | 8,091,000 | 9,592,000 | 11,505,000 | 4,407,000 | 4,902,000 | -4,673,000 | 16,595,000 | 6,605,000 | 4,083,000 | 2,731,000 | 4,952,000 | 1,336,000 | 4,060,000 | 476,000 | 5,155,000 | 2,538,000 | 4,007,000 | -6,383,000 | 1,282,000 | 9,200,000 |
effect of exchange rate changes on cash, cash equivalents and restricted cash | 232,000 | 257,000 | 798,000 | -34,000 | -249,000 | 117,000 | -294,000 | -523,000 | 232,000 | -121,000 | -75,000 | 84,000 | 246,000 | ||||||||
net increase in cash, cash equivalents, and restricted cash | -2,562,000 | 27,078,000 | -12,378,000 | -155,310,000 | 23,781,000 | 14,290,000 | -17,103,000 | -173,845,000 | -159,817,000 | ||||||||||||
cash, cash equivalents, and restricted cash—beginning of period | 0 | 0 | 0 | 50,627,000 | 0 | 0 | 0 | 84,777,000 | 0 | 0 | 0 | 45,607,000 | 0 | 0 | 0 | 68,540,000 | 0 | 0 | 0 | 164,739,000 | 0 |
cash, cash equivalents, and restricted cash—end of period | -2,562,000 | 27,078,000 | 6,927,000 | 45,108,000 | -12,378,000 | -155,310,000 | 146,918,000 | 71,397,000 | 23,781,000 | 14,290,000 | 6,348,000 | 40,358,000 | -8,586,000 | -1,241,000 | -4,396,000 | 59,830,000 | -17,103,000 | -173,845,000 | 112,546,000 | 146,942,000 | -159,817,000 |
supplemental disclosure of noncash investing and financing activities: | |||||||||||||||||||||
purchase of property and equipment during the period included in accounts payable | |||||||||||||||||||||
fair value of ordinary shares issued as consideration for business combination | |||||||||||||||||||||
fair value of replacement awards in business combination | |||||||||||||||||||||
reconciliation of cash, cash equivalents, and restricted cash within the consolidated balance sheets to the amounts shown in the consolidated statements of cash flows above: | |||||||||||||||||||||
cash and cash equivalents | -2,515,000 | 27,078,000 | 6,927,000 | 44,350,000 | -12,377,000 | -156,057,000 | 146,918,000 | 71,385,000 | 23,781,000 | 14,290,000 | 6,348,000 | 40,346,000 | -8,376,000 | -1,223,000 | -4,383,000 | 59,577,000 | -16,323,000 | -174,613,000 | 112,544,000 | 146,676,000 | -159,827,000 |
restricted cash included in prepaid expenses and other current assets | -47,000 | 0 | 0 | 758,000 | -1,000 | 747,000 | 0 | 12,000 | 0 | 0 | 0 | 12,000 | 0 | -1,000 | 0 | 13,000 | -774,000 | 774,000 | -1,000 | 14,000 | 0 |
total cash, cash equivalents, and restricted cash | -2,562,000 | 27,078,000 | 6,927,000 | 45,108,000 | -12,378,000 | -155,310,000 | 146,918,000 | 71,397,000 | 23,781,000 | 14,290,000 | 6,348,000 | 40,358,000 | -8,586,000 | -1,241,000 | -4,396,000 | 59,830,000 | -17,103,000 | -173,845,000 | 112,546,000 | 146,942,000 | -159,817,000 |
changes in operating assets and liabilities, net of effects of business combination: | |||||||||||||||||||||
payments for business combination, net of cash acquired | |||||||||||||||||||||
proceeds from employee equity transactions, net of payments to tax authorities | -629,000 | 6,470,000 | 1,459,000 | -5,534,000 | 5,255,000 | 520,000 | 297,000 | ||||||||||||||
fair value of ordinary shares issued as consideration for business acquisition | |||||||||||||||||||||
fair value of replacement awards in business acquisition | |||||||||||||||||||||
reconciliation of cash, cash equivalents, and restricted cash within the condensed consolidated balance sheets to the amounts shown in the condensed consolidated statements of cash flows above: | |||||||||||||||||||||
changes in operating assets and liabilities: | |||||||||||||||||||||
net decrease in cash, cash equivalents, and restricted cash | -5,519,000 | -13,380,000 | -5,249,000 | -8,586,000 | -8,710,000 | -17,797,000 | |||||||||||||||
purchases of intangible asset | |||||||||||||||||||||
supplemental disclosure of cash flow information: | |||||||||||||||||||||
income tax payments | |||||||||||||||||||||
changes in operating assets and liabilities, net of effects of acquisition: | |||||||||||||||||||||
maturities and sales of short-term investments | 93,284,000 | 227,160,000 | 118,623,000 | 74,065,000 | 83,676,000 | 68,845,000 | 114,326,000 | 88,936,000 | 117,906,000 | 81,232,000 | 74,637,000 | 59,381,000 | 56,019,000 | ||||||||
acquisition of business, net of cash acquired | |||||||||||||||||||||
payments to tax authorities from employee equity transactions | 335,000 | -239,000 | -7,699,000 | -1,008,000 | |||||||||||||||||
changes in operating assets and liabilities, net of business combinations: | |||||||||||||||||||||
restricted cash included in other assets, noncurrent | -17,000 | -13,000 | 240,000 | -6,000 | -6,000 | 3,000 | 252,000 | 10,000 | |||||||||||||
payments related to business combination | 0 | -179,000 | |||||||||||||||||||
purchase of intangible asset | |||||||||||||||||||||
gain on foreign exchange | -224,000 | -367,000 | |||||||||||||||||||
loss on foreign exchange | -138,000 | ||||||||||||||||||||
proceeds from initial public offering, net of underwriting discounts and commissions and other issuance costs | -1,730,000 | ||||||||||||||||||||
payments to tax authorities, net of proceeds from employee equity transactions | |||||||||||||||||||||
payments related to business combination, net of cash acquired | |||||||||||||||||||||
prepayment for purchase of intangible asset | 0 | 0 | |||||||||||||||||||
proceeds from employee equity transactions, net of payments to be remitted to tax authorities | 107,000 | ||||||||||||||||||||
payments to be remitted to tax authorities, net of proceeds from employee equity transactions | |||||||||||||||||||||
deferred offering costs incurred during the period included in accounts payable and accrued expenses | |||||||||||||||||||||
proceeds from initial public offerings, net of underwriting discounts and commissions and other issuance costs | |||||||||||||||||||||
payments of deferred offering costs | |||||||||||||||||||||
proceeds from issuance of convertible preferred shares, net of issuance costs | |||||||||||||||||||||
proceeds from employee equity transactions to be remitted to tax authorities | |||||||||||||||||||||
payments related to prior year business or asset acquisition | |||||||||||||||||||||
supplemental disclosures of cash flow information: | |||||||||||||||||||||
supplemental disclosures of noncash investing and financing activities: | |||||||||||||||||||||
purchases of property and equipment during the period included in accounts payable | |||||||||||||||||||||
purchase of intangible asset during the period included in accrued expenses | |||||||||||||||||||||
losses on short-term investments |