JFrog (FROG) Q3 2026 earnings summary

Executive summary

• Q3 revenue was $179.2M, up 31% YoY; cloud revenue rose 60% to $101.5M, or 57% of revenue.

• AI-driven artifact growth and demand for supply-chain security and governance supported higher cloud usage, larger commitments, and Enterprise+ expansion.

• 3Q'26 LTM revenue reached $642M, up 28% YoY, with $207M in LTM free cash flow and 124% net dollar retention.

Financial highlights

• Q3 gross profit was $142.7M GAAP and $149.8M non-GAAP; gross margins were 79.6% and 83.6%, respectively.

• Non-GAAP operating income was $40.7M, versus $25.6M a year earlier; non-GAAP operating margin was 22.7%, versus 18.7%.

• GAAP net income was $6.6M, versus a $16.4M loss; non-GAAP net income was $41.2M, versus $27.5M.

• Operating cash flow was $69.3M and free cash flow was $66.5M, versus $28.8M in Q3 2025; 9M free cash flow was $157.5M.

• Cash, cash equivalents, and investments totaled $880.9M at quarter-end; RPO was $812.4M, up 60% YoY.

Outlook and guidance

• FY 2026 revenue guidance is $680M-$682M; non-GAAP operating income is $142.5M-$144.5M and diluted EPS is $1.14-$1.16 on ~129M weighted-average diluted shares.

• Q4 revenue guidance is $183M-$185M; non-GAAP operating income is $36.2M-$38.2M and diluted EPS is $0.28-$0.30 on ~131M weighted-average diluted shares.

• FY baseline cloud growth guidance increased to 52%-54%; the trailing four-quarter NDR floor is 122%.

• FY 2026E gross margin is 83.0%-83.5%, operating margin 20.9%-21.2%, and free cash flow $194M-$196M.