JFrog eyes continued growth after posting 40% revenue increase in first quarter following Nasdaq IPO
Israeli DevOps technology company reported better-than-expected results, displaying accelerated growth by posting $38.9 million in revenue for the quarter
JFrog is continuing to grow and is predicting revenue in the region of $40.9 to $41.9 million in the fourth quarter of the year. The non-GAAP operating income is expected to be between $1.2 million and $2.2 million and should mean the company will break even for the quarter. Nevertheless, this will still represent a big drop from the third quarter results. For the full year, the company is expecting revenue between $149 million and $150 million, with non-GAAP operating income between $12 million and $13 million, and non-GAAP net income per share between $0.11 and $0.13.
Following the IPO in which the company raised $393 million, it reported in its results $578 million in cash, cash equivalents and investments as of September 30. JFrog is currently being traded at a valuation of $6.4 billion after almost reaching $7 billion during October.