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JFrog Ltd. (FROG-1.71%) has submitted its Annual Report on Form 10-K filing for the fiscal year ended December 31, 2024.
The filing includes financial statements for the year, showing an increase in total revenue to $428.5 million from $349.9 million in the previous year, marking a growth rate of 22%. This growth was primarily driven by an increase in subscription revenue from existing and new customers.
Operating expenses increased to $421.3 million from $348.4 million, with research and development expenses rising to $160.9 million, sales and marketing expenses to $190.4 million, and general and administrative expenses to $70 million.
The company reported a net loss of $69.2 million for the year, compared to a net loss of $61.3 million in the previous year. The loss was primarily due to increased operating expenses and share-based compensation expenses.
Cash provided by operating activities was $110.9 million, while cash used in investing activities was $165.4 million, primarily due to the acquisition of Qwak AI Ltd. Financing activities provided $21.2 million, mainly from the exercise of share options and employee share purchases.
JFrog had cash, cash equivalents, and short-term investments totaling $522 million as of December 31, 2024. The company expects this liquidity to be sufficient to meet its needs for the next 12 months.
The filing also notes the impact of the Middle East conflict on the company, with no major interruption or material adverse impact on operations as of the report date.
JFrog continues to focus on expanding its customer base and increasing sales within existing customers, with a net dollar retention rate of 116% as of December 31, 2024.
The company emphasizes its commitment to extending its technology leadership and enhancing its software supply chain platform to maintain its competitive position in the market.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the JFrog Ltd. annual 10-K report dated February 14, 2025. To report an error, please email earnings@qz.com.