Core Viewpoint - JFrog Ltd. is recognized as a strong investment opportunity in the AI sector, with analysts maintaining positive ratings and increasing price targets due to the company's growth potential and favorable market conditions [1][2]. Group 1: Analyst Ratings and Price Targets - Robert W. Baird analyst Shrenik Kothari reaffirmed a Buy rating on JFrog Ltd. and raised the price target from $70 to $78, citing strong growth and conservative guidance [1]. - Bank of America Securities also maintained a Buy rating and set a price target of $74, indicating that JFrog is expected to rebound quickly once market conditions improve [2]. Group 2: Growth Drivers - The increased adoption of AI is generating more binaries, which benefits JFrog as it is a leading tool for managing the distribution of binaries and mitigating associated risks [3]. - JFrog's Cloud revenue growth accelerated to +50% year-over-year in Q3 2025, up from +45% in Q2 2025, indicating strong demand and usage [3]. Group 3: Company Overview - JFrog Ltd. provides a supply chain platform that includes products like JFrog Artifactory, JFrog Xray, JFrog Advanced Security, and JFrog Runtime Security, serving various sectors including financial services, healthcare, technology, retail, and telecommunications [3].

巴克莱认为，市场正在重演历史性的恐慌，但这次可能是错误的。 据追风交易台，2月13日，巴克莱分析师Raimo Lenschow团队在最新研报中指出，投资者目前对生成式AI（GenAI）的反应是基于"最坏情况假 设"——即认为传统软件公司的终值将归零。这种恐慌与10年前亚马逊AWS崛起时市场对软件行业的"死亡判决"如出一辙。 历史数据表明，灭绝并未发生。 尽管AWS确实夺取了市场份额，但没有一家成熟的软件巨头因此破产。相反，微软、Salesforce等巨头通过进化 实现了数倍甚至数十倍的市值增长。对于投资者而言，当前的无差别抛售（Software Sell-off）创造了巨大的错配机会。GenAI将扩大而非单纯取 代软件市场，那些拥有核心记录系统和特定领域护城河的公司被错误定价了。 似曾相识的"末日论"：从AWS到GenAI 目前软件板块的投资者情绪正处于一个极端独特的时刻。市场普遍认为GenAI将从根本上改变世界，这导致了一个简单粗暴的投资逻辑：买入AI 新贵，做空一切传统软件。 让我们用数据说话。回顾过去10年，AWS确实取得了巨大的成功，占据了相当大的市场份额，许多AWS产品（如Redshift、Hado ...

经济观察网 根据捷蛙科技（FROG.US）截至2025年12月31日的2025财年第四季度及全年财报，其核心 亮点如下： 公司基本面尽管全年归母净利润为-7181.9万美元，但第四季度单季亏损收窄至-1521万美元，环比改善 7.4%。全年经营活动现金流达14.57亿美元，自由现金流为14.23亿美元，流动性充裕。 业绩经营情况2025财年全年营收达53.18亿美元，同比增长24.12%；第四季度单季营收14.53亿美元，同 比增长25.18%。订阅收入占比55.76%，SaaS收入占比39.20%，显示其混合通用DevOps平台的收入结构 稳健。 机构观点参与评级的22家机构中，86%给予"买入"建议，14%为"持有"，无"卖出"评级。市场关注其在 高波动软件服务行业中的长期技术壁垒与全球化业务布局。 财务状况全年毛利率为76.26%，第四季度毛利率进一步提升至77.74%，反映其软件平台模式具备较强 的成本控制能力和高附加值特性。 以上内容基于公开资料整理，不构成投资建议。 ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________________________ FORM 10-K __________________________________________________ (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-39492 ______ ...

For the quarter ended December 2025, JFrog Ltd. (FROG) reported revenue of $145.31 million, up 25.2% over the same period last year. EPS came in at $0.22, compared to $0.19 in the year-ago quarter.The reported revenue represents a surprise of +5.32% over the Zacks Consensus Estimate of $137.97 million. With the consensus EPS estimate being $0.19, the EPS surprise was +16.4%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street ...

JFrog (NasdaqGS:FROG) Q4 2025 Earnings call February 12, 2026 05:00 PM ET Company ParticipantsAndrew Sherman - DirectorBrian Essex - Executive DirectorEamon Coughlin - VP in Software Equity ResearchEd Grabscheid - CFOJason Ader - Partner and Co-Group Head of Technology, Media, and CommunicationsJeffrey Schreiner - Head of Investor RelationsJonathan Ruykhaver - Managing DirectorMiller Jump - Equity Research AssociateOscar Saavedra - Equity Research Associate in SoftwareRadi Sultan - Director in Software Equi ...

JFrog (NasdaqGS:FROG) Q4 2025 Earnings call February 12, 2026 05:00 PM ET Company ParticipantsAndrew Sherman - DirectorBrian Essex - Executive DirectorEamon Coughlin - VP in Software Equity ResearchEd Grabscheid - CFOJason Ader - Partner and Co-Group Head of Technology, Media, and CommunicationsJeffrey Schreiner - Head of Investor RelationsJonathan Ruykhaver - Managing DirectorMiller Jump - Equity Research AssociateOscar Saavedra - Equity Research Associate in SoftwareRadi Sultan - Director in Software Equi ...

Financial Data and Key Metrics Changes - In fiscal year 2025, total revenue was $531.8 million, up 24% year-over-year [6][19] - Q4 total revenues reached $145.3 million, a 25% increase year-over-year [19] - Cloud revenue for 2025 was $243.3 million, representing 45% year-over-year growth [6][20] - Q4 cloud revenues grew to $70.2 million, up 42% year-over-year, accounting for 48% of total revenues [19][20] - Gross profit in Q4 was $121.6 million, with a gross margin of 83.7% [24] - Non-GAAP earnings per share for 2025 was $0.82, a 26% increase year-over-year [25] Business Line Data and Key Metrics Changes - Customers spending more than $100,000 annually grew to 1,168, a 15% increase year-over-year [6] - Enterprise Plus subscriptions contributed 57% of total revenues in Q4, up from 54% in the prior year [21] - Security Core products represented 16% of remaining performance obligation (RPO) as of December 31, 2025, compared to 12% in the prior year [23] Market Data and Key Metrics Changes - JFrog's customer count in fiscal year 2025 was approximately 6,600 [23] - Net Dollar Retention for the four trailing quarters was 119%, indicating strong customer adoption [23] Company Strategy and Development Direction - JFrog aims to be the system of record for managing and securing software supply chains, particularly in the context of AI [10][18] - The company is focusing on expanding its security offerings and enhancing partnerships with major cloud providers [14][18] - JFrog is committed to quality growth and responsible investments while addressing emerging needs in the software supply chain [33] Management's Comments on Operating Environment and Future Outlook - Management noted a growing threat environment in software supply chains, which is driving demand for JFrog's security solutions [12][44] - The company anticipates continued durable growth in cloud revenue, estimating a baseline growth of 30%-32% for 2026 [28] - Management expressed confidence in the strength of the pipeline and a stabilized purchasing environment as they enter 2026 [27] Other Important Information - JFrog's cash and short-term investments totaled $704 million at the end of 2025, up from $522 million at the end of 2024 [26] - The company is focused on maintaining disciplined spending while investing in innovation across its platform [29] Q&A Session Summary Question: Customer count transition and focus on larger customers - Management confirmed a strategy focused on larger enterprise customers, resulting in a decrease in lower ASP customers while increasing spending from larger clients [39][40] Question: Structural growth drivers from security incidents - Management acknowledged the increasing frequency of security incidents as a structural growth driver, emphasizing the need for robust security solutions [43][44] Question: Revenue parallels from security incidents - Management indicated that potential revenue growth should be assessed based on the number of enterprise customers yet to adopt JFrog Security, highlighting multiple avenues for growth [48] Question: Consumption trends from AI-driven deployments - Management noted a significant increase in binaries created due to AI agents, indicating a growing need for JFrog's solutions to manage this surge [52] Question: Governance and regulatory pressure with AI adoption - Management confirmed that JFrog's AppTrust is designed to address governance challenges arising from AI and generative tools [56] Question: Partnerships with AI companies and new logos - Management highlighted that partnerships with NVIDIA and Hugging Face are driving new customer acquisitions and enhancing JFrog's position in the market [72][73] Question: Risks associated with AI - Management identified the risk of becoming distracted by trends rather than focusing on delivering value to enterprise customers as a key concern [80]

© JFrog, 2025. All Rights Reserved. Disclaimer This presentation contains forward-looking statements that reflect our current views with respect to, among other things, the operations and financial performance of JFrog Ltd. and its subsidiaries (collectively, "JFrog," "we," "us," or "our"). All statements other than statements of historical facts contained in this presentation, including statements regarding matters such as our industry, business strategy, goals, and expectations concerning our products and ...

Exhibit 99.1 JFrog Announces Fourth Quarter and Fiscal 2025 Results Sunnyvale, Calif., February 12, 2026 – JFrog Ltd. ("JFrog") (Nasdaq: FROG), the Liquid Software company and creators of the JFrog Software Supply Chain Platform, today announced financial results for its fourth quarter and fiscal year 2025 ended December 31, 2025. "Developers and AI coding agents are now building and releasing software together at unprecedented speed. Automation, security, and governance must be embedded from the get-go," s ...