JFrog Ltd. (FROG) Earnings
JFrog Ltd. is expected to report next earnings on August 6, 2026 (in NaN days), with a consensus EPS estimate of $0.24. FROG has beaten EPS estimates in 12 of its last 12 reported quarters (average surprise +21.4% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 7, 2026 | $0.22 | $0.27 | +22.7% | $154M | +4.4% |
| Feb 12, 2026 | $0.19 | $0.22 | +15.8% | $145M | +1.4% |
| Nov 6, 2025 | $0.16 | $0.22 | +34.4% | $137M | +6.7% |
| Aug 7, 2025 | $0.16 | $0.18 | +12.5% | $127M | -0.7% |
| May 8, 2025 | $0.16 | $0.20 | +25.0% | $122M | +4.3% |
| Feb 13, 2025 | $0.14 | $0.19 | +35.7% | $116M | +1.6% |
| Nov 7, 2024 | $0.10 | $0.15 | +50.0% | $109M | -4.5% |
| May 9, 2024 | $0.14 | $0.16 | +14.3% | $100M | +1.7% |
| Feb 14, 2024 | $0.13 | $0.19 | +46.2% | $97M | +4.5% |
| Nov 1, 2023 | $0.08 | $0.15 | +87.5% | $89M | +1.2% |
| Aug 2, 2023 | $0.05 | $0.11 | +120.0% | $84M | +1.5% |
| May 3, 2023 | $0.03 | $0.06 | +86.0% | $80M | +1.8% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · May 7, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- JFrog entered 2026 strong with first quarter performance reflecting strategy clarity and execution. Cloud revenue growth was driven by increasing consumption, demand for software supply chain security solutions, higher ASP on new customer acquisitions, and robust expansion in existing customer base. The number of customers with annual spend exceeding $1 million grew to 80 (48% YOY growth) and those spending more than $100,000 annually increased to 1,225 (17% YOY growth). - Security business momentum continued with customers prioritizing end-to-end protection and governance. JFrog demonstrated that J4 Curation customers were protected from software supply chain attacks. Innovations like JFrog MCP registry, JFrog Skills Registry were introduced, and partnerships were built to drive adoption. - The company emphasized alignment with modern enterprise needs as developers and AI agents produce software at scale, driving the need for a trusted system of record for binaries.
Guidance
- For Q2 2026, revenues are anticipated to be in the range of $154 million to $156 million, non-GAAP operating profit between $28 million and $30 million, and non-GAAP earnings per diluted share of 23 cents to 25 cents (assuming ~126 million shares). - For full year 2026, revenue is anticipated to be in the range of $628 million to $632 million (18.5% YOY growth at midpoint), non-GAAP operating income between $112 million and $116 million, and non-GAAP diluted earnings per share of 93 cents to 97 cents (assuming ~128 million shares). - Raised estimated full year 2026 baseline cloud growth to 33% - 35%, and net dollar retention floor to 118% for 2026.
Segment performance
In the first quarter, total revenue was $154 million, up 26% year-over-year. Cloud revenue grew 50% year-over-year, accounting for 51% of total revenues. Self-managed or on-prem revenue was $75.1 million, up 8% year-over-year. 58% of total revenues came from Enterprise Plus subscriptions, which grew 33% year-over-year in Q1 2026. Net dollar retention for the four trailing quarters was 120%, and gross retention was 97%.
Risks & headwinds
- The company's forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from expectations. These include various factors related to market conditions, competition, adoption of AI technologies, and ability to convert usage over minimum commitments into annual commitments.
Analyst Q&A
Q: Sanjit Singh with Morgan Stanley asked about outperformance versus estimates and revised assumptions about second half ramp, and strategic questions on security durability.
A: Ed spoke about cloud mix reaching over 50% and guidance philosophy, Shlomi spoke about JFrog's position in securing binaries and differentiators.
Q: Roddy Sultan with UBS asked about legacy code modernization opportunity and impact of AI native customers on cloud strength.
A: Shlomi spoke about legacy binary code and Ed spoke about broad base of cloud strength.
Q: Michael Sikos with Natum asked about how AI is causing customers to rethink architecture and cloud migrations tempo.
A: Shlomi spoke about AI causing change in source code and binaries, Ed spoke about broad base of cloud strength.
Q: Miller Jump with Truist asked about difference in binaries reaching production now versus a year ago and customer hesitancy.
A: Shlomi spoke about AI causing growth in binaries and governance.
Q: Howard Ma with Guggenheim asked about how JFrog's revenue benefits from curation and advanced security.
A: Shlomi spoke about curation and security solutions, Ed spoke about monetization of curation.
Q: Mark Cash with Raymond James asked about where organizations realize JFrog governance capabilities in customer journey.
A: Shlomi spoke about MCP registry and skills as binaries stored in Artifactory.
Q: Jason Salino with KeyBank Capital Markets asked about alternative to curation and customer decision delay.
A: Shlomi spoke about JFrog's differentiators.
Q: Shrenik Kothari with Baird asked about customers' journey from AI code slop to production grade.
A: Shlomi spoke about experimental mode of AI adoption.
Q: Brad Reback with Stiefel asked about customers willing to absorb overages in cloud and gating factor.
A: Shlomi spoke about AI adoption race causing overages.
Q: Lucky Schreiner with D.A. Davidson asked about customers preferring self-managed basis and trends.
A: Shlomi spoke about different customer profiles for self-managed solution.
Q: Jason Ader with William Blair asked about LLM labs encroaching into binary layer.
A: Shlomi spoke about JFrog's role in containing binaries and policy enforcement.
Q: Andrew Sherman with TD Cowan asked about contribution of X-ray and barriers to entry.
A: Shlomi spoke about X-ray as part of JFrog's DevOps offering.
Q: Koji Akita with Bank of America asked about time for customers to renegotiate contracts for higher commitments.
A: Shlomi spoke about JFrog's practices in engaging customers