Core Insights - Shannon River Fund Management LLC sold its entire stake in JFrog, amounting to approximately $40.89 million, as disclosed in a SEC filing on February 13, 2026 [1][2]. Company Overview - JFrog's stock was priced at $51.68 as of February 13, 2026, reflecting a 37.0% increase over the past year, outperforming the S&P 500 by 25.25 percentage points [3]. - The company's market capitalization stands at $6.11 billion, with a trailing twelve months (TTM) revenue of $531.84 million and a net income of -$71.82 million [4]. Business Model and Offerings - JFrog is a leading provider of DevOps solutions, offering a comprehensive platform that includes JFrog Artifactory, JFrog Pipelines, and JFrog Xray, targeting enterprise scalability and software supply chain management [6][7]. - The company employs a subscription model to generate recurring revenue and enhance customer retention, positioning itself as a strategic partner in modern application development [8].

Financial Performance - JFrog's 2Q'25 Last Twelve Months (LTM) revenue reached $475 million, demonstrating a YoY growth of 22%[6] - The company's 2Q'25 LTM Free Cash Flow was $139 million[6] - JFrog's 2Q'25 LTM Net Dollar Retention Rate stood at 118%[6] - The company projects FY'25 revenue between $507 million and $510 million[81] Market and Customer Base - JFrog estimates its Total Addressable Market (TAM) to be over $40 billion[6] - The company has a customer base of 7,300 as of FY24[6] - JFrog serves 82% of the Fortune 100 companies[6] Platform and Strategy - JFrog's platform manages binaries from creation to distribution, covering the entire software supply chain[24] - The company emphasizes a land and expand growth strategy, showcasing consistent expansion within existing customer accounts[70, 71, 72, 73, 74, 75] - JFrog is focused on extending its technology leadership, expanding within its existing customer base, acquiring new customers, and developing its technology partnership ecosystem[69]

JFrog Overview - JFrog's Total Addressable Market (TAM) exceeds $40 billion[6] - The company has over 7,300 customers as of FY24[6] - JFrog's Last Twelve Months (LTM) Free Cash Flow for 1Q'25 is $119 million[6] - The LTM Net Dollar Retention Rate for 1Q'25 is 116%[6] - LTM Revenue for 1Q'25 reached $450 million, with a year-over-year growth of 22%[6] - JFrog employs over 1,600 individuals[6] - 82% of the Fortune 100 are JFrog customers[6] Financial Performance & Targets - FY'24 Revenue was $428.5 million[80] - The company projects FY'25 Revenue between $500 million and $505 million[80] - JFrog anticipates FY'27 Revenue to be in the range of $775 million to $825 million[80] - The company's long-term target for Free Cash Flow is between $200 million and $240 million by FY'27[80]