JFrog Raises 2026 Revenue Forecast to $682 Million as Annual Growth Reaches 28%
Key Facts
JFrog raised its fiscal 2026 revenue forecast to a range of $680 million to $682 million, equivalent to annual growth of 28% at the midpoint, according to the company’s statement on its third-quarter results. The new guidance came alongside quarterly revenue of $179.2 million, up 31% year over year. Quarterly revenue growth indicates continued expansion of the company’s business, while the results showed faster growth in its cloud activity. The official statement did not establish a comparison with analyst estimates, so the reported figures do not support a claim that the company beat those estimates. The quarter’s key figures centered on higher cloud revenue, alongside improved customer retention metrics and a broader base of large enterprises.
Cloud revenue reached $101.5 million in the third quarter, up 60% from the same period a year earlier, outpacing overall revenue growth of 31%. This lifted cloud’s share to 57% of the company’s total revenue, compared with 46% a year earlier. The comparison reflects a growing shift in the revenue mix toward cloud services over the past year. Net revenue retention for the trailing four quarters was also 124%, compared with 118% in the same period a year earlier. The metric measures revenue expansion from the existing customer base, with a higher figure indicating increased recurring spending within that base.
On profitability, diluted earnings per share were $0.05 under GAAP and $0.32 on a non-GAAP basis in the third quarter. The two figures present different views of profitability because they use different measurement bases, so the company reported them separately in its results. The number of customers generating more than $100,000 in annual recurring revenue rose to 1,357 from 1,121 a year earlier. Enterprise+ subscriptions accounted for 61% of total quarterly revenue, up from 56% in the year-earlier period. The company said revenue from these subscriptions increased 42% year over year, in line with broader adoption of its integrated platform among customers.
Speaking about demand, Chief Executive Shlomi Ben Haim said, "AI agents are writing code faster than any developer can review it. Every output becomes a digital product that must be stored, secured and governed." The company linked this challenge to the need to manage and secure software outputs, without specifying in its statement how much these factors contributed to quarterly revenue. JFrog also announced a partnership with Wiz to connect code, cloud and runtime environments through a unified source of information. The partnership aims, according to the company, to help teams address cyber threats before they are exploited. The move is part of the company’s expansion into security tools tied to software development and operations.
Remaining performance obligations stood at $812.4 million as of September 30, 2026, up 60% year over year. These obligations include contracted work not yet recognized as revenue and provide an indication of revenue tied to existing contracts. In the market, JFrog shares jumped 23% in after-hours trading following the results announcement, according to Investing.com. The stock’s daily closing price on November 5, 2026, was $74.62, according to EL7 data. For the fourth quarter of 2026, the company expects revenue of $183 million to $185 million, adjusted operating income of $36.2 million to $38.2 million, and adjusted earnings per share of $0.28 to $0.30.
The company also set a 2026 floor of 122% for net revenue retention over the trailing four quarters. The outlook follows a reading of 124% for the four quarters through the third quarter, compared with 118% in the year-earlier period. The guidance reflects the company’s continued focus on growing revenue within its existing customer base alongside adding new customers. Its fiscal-year revenue forecast puts the full-year range at $680 million to $682 million, with expected growth of 28% at the midpoint. Fourth-quarter results are the next operating milestone against which the company’s revenue and profitability trajectory will be measured against its guidance.