JFrog Ltd. reported significant financial results for the third quarter of 2025, with total revenue reaching $136.9 million, a 26% increase from $109.1 million in the same period last year. For the nine months ending September 30, 2025, revenue was $386.5 million, up 24% from $312.4 million in 2024. The growth was primarily driven by an increase in subscription revenue, which includes both self-managed and SaaS offerings, contributing $128.9 million and $366.4 million for the respective periods. Despite this revenue growth, the company recorded a net loss of $16.4 million for the quarter, an improvement from a loss of $22.9 million in Q3 2024, and a net loss of $56.6 million for the nine months, compared to $46.0 million in the prior year.
The company’s operational metrics showed a positive trend, with an increase in the number of customers generating annual recurring revenue (ARR) of $100,000 or more, rising to 1,121 from 1,018 at the end of 2024. Additionally, the number of customers with ARR of at least $1 million increased to 71, up from 52. JFrog's net dollar retention rate remained strong at 118%, indicating effective customer engagement and expansion within existing accounts. The company also reported a total of 118.3 million shares outstanding as of September 30, 2025, reflecting ongoing equity activities.
In terms of expenses, JFrog's total operating expenses for the third quarter were $127.6 million, compared to $111.7 million in the same quarter of 2024. This increase was attributed to higher research and development costs, which rose to $51.2 million, and sales and marketing expenses, which increased to $56.0 million. The company continues to invest in its growth strategy, focusing on enhancing its product offerings and expanding its market presence, particularly in the SaaS segment, which accounted for 46% of total revenue in Q3 2025.
Geographically, JFrog's revenue distribution remained stable, with the United States contributing 60% of total revenue, followed by the rest of the world at 37%. The company has maintained a strong cash position, with cash and cash equivalents totaling $78.4 million and short-term investments of $572.7 million as of September 30, 2025. This financial stability supports JFrog's ongoing investments in product development and market expansion.
Looking ahead, JFrog remains optimistic about its growth trajectory, emphasizing its commitment to enhancing its software supply chain platform and expanding its customer base. The company plans to continue investing in research and development, sales, and marketing to capitalize on the growing demand for its solutions. However, JFrog also acknowledges potential risks, including market competition and geopolitical factors, particularly given the recent conflicts in the Middle East, which could impact operations.
About JFrog Ltd
JFrog Ltd. offers a comprehensive software supply chain platform that manages, secure, and automates the development, deployment, and monitoring of software and AI models. Serving enterprise DevOps, DevSecOps, and MLOps teams, it supports hybrid, multi-cloud, and on-premise environments. Its core product, Artifactory, provides universal package management, security, and collaboration tools, enabling organizations to deliver trusted, scalable, and efficient software updates.
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