JFrog Shares Soar On Q3 Beat, Stellar Outlook

JFrog Ltd FROG reported third-quarter FY21 reported third-quarter FY21 revenue growth of 38% year-on-year to $53.7 million, beating the consensus of $52.5 million.
The non-GAAP gross margin expanded 180 bps to 84.5%. The non-GAAP operating margin contracted 1,070 bps to 2.5%.
"JFrog's strong performance in Q3 across all metrics demonstrated the company's commitment to both new business and expansion of existing customers," said Shlomi Ben Haim, CEO, and Co-Founder of JFrog.
Non-GAAP EPS of $0.01 beat the consensus loss of $(0.03).
JFrog held cash and equivalents of $402.4 million as of September 30, 2021.
Outlook: JFrog sees Q4 revenue of $57.5 million - $58.5 million versus the consensus of $57.48 million. It sees Non-GAAP EPS of $0.00 - $0.01, above the consensus loss of $(0.03).
JFrog sees FY21 revenue of $205 million - $206 million (prior view $202 million - $205 million), above the consensus of $203.7 million. It sees Non-GAAP EPS of $0.04 - $0.05 (prior view $(0.04) -$(0.05)), above the consensus loss of $(0.03).
Price Action: FROG shares traded higher by 16.9% at $41.45 on the last check Friday.

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