JFrog (NASDAQ:FROG) news for Thursday includes FROG stock taking a beating following the release of its earnings report for the third quarter of 2020. This comes after reporting adjusted earnings per share of 5 cents on revenue of $38.89 million. Both of these are better than Wall Street’s estimates of flat EPS and revenue of $37.9 million.
Here’s what else is worth noting about the JFrog earnings news.
- Adjusted per-share earnings are up 66.7% from 3 cents during the same time last year.
- Revenue for the quarter is sitting 40% higher than the $27.84 million reported in Q3 2019.
- Operating loss of $5.4 million is 62.7% wider year-over-year compared to $3.32 million.
- The JFrog earnings report also has its net loss coming in at $5.27 million.
- That’s a 69.5% worse result than the company’s net loss of $3.11 million reported in the same period of the year prior.
Shlomi Ben Haim, co-founder and CEO of JFrog, said this about the earnings news.
“In our first quarter as a public Company, JFrog’s demonstrated growth, high retention and strong momentum reflected the mission-critical nature of JFrog products to our customers. Our customers continue to adopt cloud-based and hybrid solutions as they embrace digital transformation through modern, cloud-native technologies. As DevOps continues to change the software update landscape, we look forward to leading the market in the fourth quarter and beyond.”
JFrog also includes guidance news in its current earnings report. It expects adjusted EPS to range from 11 cents to 13 cents on revenue between $149 million and $150 million in 2020. That’s better than Wall Street’s estimates of 7 cents per share on revenue of $147.41 million for the year.
JFROG stock was down 9.3% as of Thursday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.