JFrog (FROG)


Market Price (9/19/2026): $92.48 | Market Cap: $11.3 BilSector: Information Technology | Industry: Application Software

JFrog (FROG)


Market Price (9/19/2026): $92.48
Market Cap: $11.3 Bil
Sector: Information Technology
Industry: Application Software

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 29%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 28%

Megatrend and thematic drivers
Megatrends include Cybersecurity, Cloud Computing, and E-commerce & DTC Adoption. Themes include Software Security, Show more.

Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -67 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -11%

Stock price has recently run up significantly
6M Rtn6 month market price return is 120%

Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 27%

Valuation getting more expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 88%

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -4.5%

Key risks
FROG key risks include [1] intense competition from cloud hyperscalers (AWS, Show more.

0 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 29%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 28%
1 Megatrend and thematic drivers
Megatrends include Cybersecurity, Cloud Computing, and E-commerce & DTC Adoption. Themes include Software Security, Show more.
2 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -67 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -11%
3 Stock price has recently run up significantly
6M Rtn6 month market price return is 120%
4 Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 27%
5 Valuation getting more expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 88%
6 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -4.5%
7 Key risks
FROG key risks include [1] intense competition from cloud hyperscalers (AWS, Show more.

FROG in ETFs

Weight = FROG's share of each fund

VTI0.01%
IWM0.34%
VB0.10%
IWO0.64%
NUSC0.50%
VTWO0.27%
VBK0.25%
ESML0.16%
+4 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 9/14/2026

JFrog (FROG) stock has gained about 15% since 5/31/2026 because of the following key factors:

1. Strong Fiscal Q2 2026 Financial Performance and Raised Full-Year Guidance.

JFrog reported robust results for its fiscal second quarter of 2026, which ended in June 2026. The company announced non-GAAP diluted earnings per share of $0.27, surpassing analysts' consensus estimates of $0.24 by $0.03. Additionally, revenue for the quarter increased by 28.7% year-over-year to $163.77 million, exceeding the consensus estimate of $155.63 million. Following this strong performance, JFrog raised its full-year 2026 revenue guidance to a range of $648 million to $652 million and its non-GAAP diluted EPS guidance to between $0.96 and $1.00, signaling confidence in sustained growth.

2. Accelerated Cloud Revenue Growth.

A significant factor contributing to the stock's positive trend was the accelerating growth in JFrog's cloud revenue. In fiscal Q2 2026, cloud sales surged by 53% year-over-year, reaching $87.5 million, and now constitute 53% of the company's total revenue. This strong performance in cloud adoption underscores the company's successful shift towards scalable, cloud-based solutions and its relevance in the evolving software supply chain security and AI/ML governance markets.

Show more
Updated on 9/14/2026

JFrog (FROG) stock has gained about 15% since 5/31/2026 because of the following key factors:

1. Strong Fiscal Q2 2026 Financial Performance and Raised Full-Year Guidance.

JFrog reported robust results for its fiscal second quarter of 2026, which ended in June 2026. The company announced non-GAAP diluted earnings per share of $0.27, surpassing analysts' consensus estimates of $0.24 by $0.03. Additionally, revenue for the quarter increased by 28.7% year-over-year to $163.77 million, exceeding the consensus estimate of $155.63 million. Following this strong performance, JFrog raised its full-year 2026 revenue guidance to a range of $648 million to $652 million and its non-GAAP diluted EPS guidance to between $0.96 and $1.00, signaling confidence in sustained growth.

2. Accelerated Cloud Revenue Growth.

A significant factor contributing to the stock's positive trend was the accelerating growth in JFrog's cloud revenue. In fiscal Q2 2026, cloud sales surged by 53% year-over-year, reaching $87.5 million, and now constitute 53% of the company's total revenue. This strong performance in cloud adoption underscores the company's successful shift towards scalable, cloud-based solutions and its relevance in the evolving software supply chain security and AI/ML governance markets.

3. Positive Analyst Sentiment and Increased Price Targets.

Following the announcement of the strong fiscal Q2 2026 results and an optimistic outlook, financial analysts largely maintained or upgraded their ratings for JFrog's stock. The consensus rating from analysts is "Strong Buy" or "Moderate Buy," with an average 12-month price target ranging from approximately $107 to $112. Several firms, including Oppenheimer and Needham & Company LLC, increased their price targets, and RBC Capital Markets initiated coverage with an "Outperform" rating and a $118 price target, emphasizing JFrog's role as a critical infrastructure provider in the artificial intelligence (AI) era.

4. Inclusion in Russell 3000 Index.

JFrog's inclusion in the Russell 3000® Index, which became effective after the U.S. market close on June 26, 2026, likely contributed to increased institutional investor interest and demand for the stock. This inclusion can lead to greater visibility and investment from passive funds that track the index.

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Stock Movement Drivers

Fundamental Drivers

The 16.8% change in FROG stock from 5/31/2026 to 9/18/2026 was primarily driven by a 11.2% change in the company's P/S Multiple.
(LTM values as of)53120269182026Change
Stock Price ($)79.4892.8116.8%
Change Contribution By: 
Total Revenues ($ Mil)5636006.5%
P/S Multiple17.018.811.2%
Shares Outstanding (Mil)120122-1.4%
Cumulative Contribution16.8%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2026 to 9/18/2026
ReturnCorrelation
FROG16.8% 
Market (SPY)0.9%30.7%
Sector (XLK)-0.7%33.6%

Fundamental Drivers

The 131.2% change in FROG stock from 2/28/2026 to 9/18/2026 was primarily driven by a 110.1% change in the company's P/S Multiple.
(LTM values as of)22820269182026Change
Stock Price ($)40.1592.81131.2%
Change Contribution By: 
Total Revenues ($ Mil)53260012.8%
P/S Multiple9.018.8110.1%
Shares Outstanding (Mil)119122-2.5%
Cumulative Contribution131.2%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2026 to 9/18/2026
ReturnCorrelation
FROG131.2% 
Market (SPY)11.6%26.5%
Sector (XLK)36.8%36.9%

Fundamental Drivers

The 88.0% change in FROG stock from 8/31/2025 to 9/18/2026 was primarily driven by a 57.2% change in the company's P/S Multiple.
(LTM values as of)83120259182026Change
Stock Price ($)49.3792.8188.0%
Change Contribution By: 
Total Revenues ($ Mil)47560026.4%
P/S Multiple12.018.857.2%
Shares Outstanding (Mil)115122-5.4%
Cumulative Contribution88.0%

LTM = Last Twelve Months as of date shown

Market Drivers

8/31/2025 to 9/18/2026
ReturnCorrelation
FROG88.0% 
Market (SPY)19.4%24.1%
Sector (XLK)45.1%32.1%

Fundamental Drivers

The 223.5% change in FROG stock from 8/31/2023 to 9/18/2026 was primarily driven by a 100.2% change in the company's P/S Multiple.
(LTM values as of)83120239182026Change
Stock Price ($)28.6992.81223.5%
Change Contribution By: 
Total Revenues ($ Mil)31360092.0%
P/S Multiple9.418.8100.2%
Shares Outstanding (Mil)103122-15.8%
Cumulative Contribution223.5%

LTM = Last Twelve Months as of date shown

Market Drivers

8/31/2023 to 9/18/2026
ReturnCorrelation
FROG223.5% 
Market (SPY)75.6%33.3%
Sector (XLK)119.9%35.2%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
FROG Return-53%-28%62%-15%112%50%50%
Peers Return24%-31%52%24%18%8%107%
S&P 500 Return27%-19%24%23%16%12%103%

Monthly Win Rates [3]
FROG Win Rate17%42%50%50%75%44% 
Peers Win Rate60%32%65%67%47%47% 
S&P 500 Win Rate75%42%67%75%67%44% 

Max Drawdowns [4]
FROG Max Drawdown-59%-46%-36%-48%-33%-45% 
Peers Max Drawdown-12%-42%-24%-24%-30%-31% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: GTLB, MSFT, AMZN, GOOGL, IBM.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 9/18/2026 (YTD)

How Low Can It Go

EventFROGS&P 500
2025 US Tariff Shock
  % Loss-29.7%-18.8%
  % Gain to Breakeven42.3%23.1%
  Time to Breakeven34 days79 days
2024 Yen Carry Trade Unwind
  % Loss-30.0%-7.8%
  % Gain to Breakeven42.9%8.5%
  Time to Breakeven173 days18 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-27.6%-9.5%
  % Gain to Breakeven38.1%10.5%
  Time to Breakeven39 days24 days
2023 SVB Regional Banking Crisis
  % Loss-25.0%-6.7%
  % Gain to Breakeven33.3%7.1%
  Time to Breakeven27 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-46.0%-24.5%
  % Gain to Breakeven85.1%32.4%
  Time to Breakeven583 days427 days

Compare to GTLB, MSFT, AMZN, GOOGL, IBM

In The Past

JFrog's stock fell -29.7% during the 2025 US Tariff Shock. Such a loss loss requires a 42.3% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventFROGS&P 500
2025 US Tariff Shock
  % Loss-29.7%-18.8%
  % Gain to Breakeven42.3%23.1%
  Time to Breakeven34 days79 days
2024 Yen Carry Trade Unwind
  % Loss-30.0%-7.8%
  % Gain to Breakeven42.9%8.5%
  Time to Breakeven173 days18 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-27.6%-9.5%
  % Gain to Breakeven38.1%10.5%
  Time to Breakeven39 days24 days
2023 SVB Regional Banking Crisis
  % Loss-25.0%-6.7%
  % Gain to Breakeven33.3%7.1%
  Time to Breakeven27 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-46.0%-24.5%
  % Gain to Breakeven85.1%32.4%
  Time to Breakeven583 days427 days

Compare to GTLB, MSFT, AMZN, GOOGL, IBM

In The Past

JFrog's stock fell -29.7% during the 2025 US Tariff Shock. Such a loss loss requires a 42.3% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About JFrog (FROG)

JFrog Ltd. (FROG) offers a comprehensive DevOps platform designed to streamline and automate the entire software supply chain for organizations. Essentially, JFrog helps businesses manage, secure, and deliver their software applications more efficiently, from initial development through to deployment and updates. Its solutions are critical for companies looking to accelerate their software development cycles, ensure package integrity, and maintain a robust and secure software delivery pipeline.

At the core of JFrog's offering is JFrog Artifactory, a universal package repository that acts as a central hub for storing, updating, and managing all software components and packages. Complementing Artifactory are tools like JFrog Pipelines, which automates the continuous integration and delivery (CI/CD) process, and JFrog Xray, which scans packages for security vulnerabilities and compliance issues. The company also provides JFrog Distribution for enterprise-grade software delivery, including incremental updates, and JFrog Connect specifically for managing software updates and monitoring performance across fleets of IoT devices. These products are available across various tiers, from Pro to Enterprise Plus, offering features tailored to different organizational needs.

JFrog serves a wide array of large organizations across diverse industries that rely heavily on software development and deployment. Its primary customers include technology companies, financial services institutions, retail chains, healthcare providers, and telecommunications firms. Any enterprise that needs to manage a complex and secure software supply chain, accelerate its development processes, and ensure the reliable distribution of its software can benefit from JFrog's integrated platform.

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GitHub for compiled software packages.

Amazon Logistics for software supply chains.

Tesla's automated factory for software development.

AI Analysis | Feedback

  • JFrog Artifactory: A package repository that allows teams and organizations to store, update, and manage their software packages at any scale.
  • JFrog Pipelines: An integration/continuous delivery tool for automating and orchestrating the movement of software packages.
  • JFrog Xray: Scans JFrog Artifactory for security vulnerabilities and license compliance.
  • JFrog Distribution: Provides software package distribution with enterprise-grade performance.
  • JFrog Artifactory Edge: Utilizes and leverages metadata from JFrog Artifactory to facilitate the transfer of incremental changes in software packages.
  • JFrog Mission Control: A platform control panel that provides a comprehensive view of an organization's software supply chain workflow.
  • JFrog Insight: A DevOps intelligence tool for analytics and reporting.
  • JFrog Connect: A device management solution that allows companies to manage software updates and monitor performance across IoT device fleets.

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JFrog (FROG) sells its DevOps platform and related products primarily to other companies and organizations.

While the provided background does not list specific customer company names, it identifies its major customers as organizations within the following sectors:

  • Technology organizations
  • Financial services organizations
  • Retail organizations
  • Healthcare organizations
  • Telecommunications organizations

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Amazon.com, Inc. (AMZN)

Alphabet Inc. (GOOGL)

Microsoft Corporation (MSFT)

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Shlomi Ben Haim, Co-Founder and CEO
Shlomi Ben Haim is a co-founder and has served as CEO of JFrog since April 2008 and Chairman of the board of directors since January 2020. He has over 20 years of experience building profitable, high-growth information technology companies. Prior to co-founding JFrog, he was the CEO of AlphaCSP Ltd. (AlphaCSP), a company implementing software applications that was acquired by Malam Group in 2005. He served as CEO of AlphaCSP from June 2006 to June 2009. He also served in the Israeli Air Force, reaching the rank of Major.

Ed Grabscheid, Chief Financial Officer
Ed Grabscheid is the Chief Financial Officer at JFrog, overseeing global finance, treasury, and investor relations. He is a seasoned finance leader with over 25 years of experience driving growth and value at high-performing technology companies. Prior to JFrog, Ed has experience leading both private and public company finance teams and has successfully guided organizations from startup to IPO.

Yoav Landman, Co-Founder and CTO
Yoav Landman is a co-founder and the CTO of JFrog. He is recognized as the visionary behind Artifactory, JFrog's universal artifact repository manager. Before co-founding JFrog in April 2008, he spent over a decade as a senior consultant specializing in Distributed Computing and Enterprise Build Systems. He also held various senior technical roles in global organizations, including senior consultant at AlphaCSP and senior developer at Attunity, Verve, and Sausage.

Gal Marder, Chief Strategy Officer
Gal Marder brings over 20 years of experience across various tech leadership positions. He joined JFrog in 2018 through the acquisition of Trainologic, a cutting-edge DevOps technology consulting company he co-founded and served as CEO. After the acquisition, Marder initially served as VP of DevOps Acceleration, scaling and leading the team providing solutions engineering and professional services. In his current role, he leads the company's strategic direction, including exploring new market opportunities, cultivating partnerships, and pursuing M&A initiatives.

Tali Notman, Chief Revenue Officer
Tali Notman has served as JFrog's Chief Revenue Officer since January 2019. She has been instrumental in running the Sales team at JFrog from the company's early days, developing the sales funnel, building a global sales team, and establishing customer and partner relationships. Before joining JFrog, she held executive Human Resources roles at companies including AlphaCSP, Malam, the Prime Minister's Office, and SQLink.

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Key Risks to JFrog's Business

  1. Intense Competition, particularly from Cloud Hyperscalers and Version Control System (VCS) Providers: JFrog faces significant competition from major cloud providers, such as Amazon Web Services (AWS) with CodeArtifact and Google Cloud with Artifact Registry, which bundle repository services within their existing ecosystems and leverage established enterprise relationships. Additionally, strong competition comes from VCS providers like GitHub (owned by Microsoft) and GitLab, who represent a major entry point into the software release management pipeline and can up-sell into other functions like CI/CD, package storage, and code security. The market for DevOps and DevSecOps tools is also seeing consolidation, with larger entities directly competing with JFrog's offerings. This competitive landscape can impact JFrog's market position, pricing power, and ability to expand its customer base.
  2. Disruption from AI-native Tools and Evolving Software Security Paradigms: The emergence of AI-native tools for code security and vulnerability detection, such as Anthropic's Claude Code Security, poses a risk to JFrog's traditional security models. There is a concern that if AI can detect vulnerabilities earlier in the coding process, enterprises might perceive a reduced need for JFrog's downstream package-level controls and incremental security modules, potentially slowing their adoption. There's also a longer-term fear that AI platforms could expand into artifact scanning, directly overlapping with JFrog's core portfolio. While JFrog is actively integrating AI into its offerings, for example, through its acquisition of Qwak AI to embed MLOps into its platform, the rapid evolution and potential "platform creep" of AI tools present a significant challenge to JFrog's market position and product strategy.
  3. Dependence on Large Enterprise Contracts and Exposure to Macroeconomic Headwinds: JFrog's business model is significantly reliant on large enterprise customers and multi-year contracts, which introduces risks related to customer concentration and the timing of substantial deals. Delays, renegotiations, or the loss of these large contracts can adversely affect JFrog's financial performance. Furthermore, the company is susceptible to global economic conditions, such as inflation, recession, and rising interest rates, which can lead to enterprises tightening their IT budgets, extending cloud migration timelines, and scrutinizing investments in DevOps projects. Such macroeconomic pressures can negatively impact JFrog's revenue growth, customer expansion, and overall financial results.

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The increasing maturity and comprehensive nature of native DevOps platform offerings from major cloud providers (such as AWS CodeArtifact, CodePipeline, Azure Artifacts, Azure Pipelines, Google Cloud Artifact Registry, and Cloud Build). These deeply integrated services directly compete with JFrog's core products like Artifactory and Pipelines, and present an alternative, cloud-native approach to managing the software supply chain. For organizations committed to a single cloud ecosystem, these native tools offer the potential for simplified procurement, tighter integration with other cloud services, and perceived cost efficiencies, potentially reducing the need for a specialized, cloud-agnostic platform.

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JFrog Ltd. (FROG) operates within several significant addressable markets related to its DevOps platform and associated services. The company's unified Software Supply Chain Platform addresses a total addressable market (TAM) estimated to be over $40 billion globally. For its main products and services, the addressable market sizes are: * **DevOps Platforms (encompassing a broad range of JFrog's offerings):** The global DevOps Platforms market is estimated to reach approximately USD 8.0-16.0 billion in 2025, with projections suggesting growth to a valuation of USD 103.21 billion by 2034. * **Artifact Management (for products like JFrog Artifactory):** The global artifact repository market is projected to grow from $1.61 billion in 2025 to $1.85 billion in 2026, and is estimated to reach $3.24 billion by 2030. The broader Repository Management Software market was valued at $9.14 billion globally in 2025. * **Continuous Integration/Continuous Delivery (CI/CD) (for JFrog Pipelines):** The global CI/CD market is projected to reach approximately $15 billion by 2028, with some estimates suggesting it could reach around $45 billion by 2033. The Continuous Integration & Delivery (CI/CD) tools market is also projected to reach approximately US$19 billion by 2031 globally. * **Software Supply Chain Security (for JFrog Xray):** The global Software Supply Chain Security Market was valued at USD 5.83 billion in 2025 and is projected to reach USD 13 billion by the end of 2030. Another estimate places the market size at USD 5.53 billion in 2025, forecasting growth to USD 10.10 billion by 2030. * **IoT Device Management (for JFrog Connect):** The global IoT device management market size was estimated at USD 8.84 billion in 2025 and is projected to reach USD 43.82 billion by 2033. The market is expected to reach USD 27.94 billion by 2031. North America alone is predicted to generate USD 2 billion in revenue for this market by 2028.

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Here are 3-5 expected drivers of future revenue growth for JFrog (FROG) over the next 2-3 years:

1. Strong Cloud Growth and Migration: JFrog anticipates continued robust growth in its cloud business, driven by increasing customer usage and an ongoing trend of customers migrating from self-managed subscriptions to hybrid or multi-cloud environments. The company projects cloud growth of 30-32% for 2026.

2. Deepening Enterprise Adoption and Platform Consolidation: Large enterprises are increasingly adopting the comprehensive JFrog platform, recognizing its critical role in the software supply chain. Revenue from JFrog's premium Enterprise+ offering has steadily grown, representing over 56% of total revenue in Q3 FY2025, indicating deeper integration and consolidation of tools within customer environments.

3. Expansion into Security, Compliance, and Governance (DevSecOps/DevGovOps): JFrog has strategically expanded its platform to include security, compliance, and governance functionalities. Products like JFrog Advanced Security and JFrog Curation are expected to contribute materially to revenue. The company emphasizes its strong position in binary security and governance, which are crucial for deployed code.

4. Growth in AI/MLOps and Securing AI Models: JFrog is focusing on securing AI models and Machine Learning Operations (MLOps) development as a significant future growth area. The company's acquisition of Qwak AI in 2024 aims to unify DevOps, DevSecOps, and MLOps within a single platform, and a notable AI customer is already contributing over $1 million in Annual Recurring Revenue (ARR). MLOps is projected to be a rapidly expanding market, adding substantial potential to JFrog by 2030.

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Share Repurchases

  • On February 26, 2026, JFrog's Board of Directors authorized a share repurchase program of up to $300 million of its outstanding ordinary shares.
  • The program is expected to be funded with existing cash on hand and future cash generated from operations.
  • Repurchases may occur through various methods, including open market purchases or privately negotiated transactions, and the program is discretionary and can be suspended or discontinued.

Share Issuance

  • JFrog's shares outstanding have shown an increasing trend, with 0.116 billion shares outstanding in 2025, a 5.93% increase from 2024.
  • In 2024, shares outstanding were 0.11 billion, an increase of 6.17% from 2023, and in 2023, they were 0.103 billion, a 4.11% increase from 2022.
  • Historically, JFrog has funded its operations and capital expenditures in part through equity issuances.

Outbound Investments

  • In June 2024, JFrog acquired Qwak for $230 million to expand its capabilities in AI and MLOps (Machine Learning Operations).
  • In September 2021, JFrog acquired Upswift to integrate connected device management and over-the-air (OTA) updates for IoT devices into its platform.
  • In July 2021, JFrog completed the acquisition of Vdoo Connected Trust Ltd. for approximately $300 million, comprised of cash and JFrog ordinary shares, to enhance its security offerings and DevSecOps capabilities.

Capital Expenditures

  • JFrog's capital expenditures for fiscal year 2025 totaled $4.33 million.
  • Capital expenditures were $3.14 million in fiscal year 2024 and $1.98 million in fiscal year 2023.
  • The company focuses on balancing these investments with growth, particularly in areas like R&D and sales.

Better Bets vs. JFrog (FROG)

Peer Outperformance in Application Software

FROG has outperformed 97% of its 121 Application Software peers over 5Y. Application Software ranks 11th of 12 industries in Information Technology by median 5Y return. The sector’s gains have largely come from elsewhere.
Share of Application Software constituents that FROG has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
97%
of 152 industry peers · 85.6% return
3Y
98%
of 139 industry peers · 249.7% return
5Y
97%
of 121 industry peers · 152.3% return
No Application Software peer with a comparable growth profile has beaten FROG by more than 20pp over 5Y.
Median price return by industry across the Information Technology sector, ranked by 5Y. Application Software is FROG's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Electronic Manufacturing Services 9 52.1%181.3%268.8% TTMI 801% · FLEX 705% · SANM 419%
Technology Distributors 9 28.9%72.0%93.7% CLMB 332% · AVT 193% · SNX 146%
Semiconductor Materials & Equipment 26 89.8%82.2%93.2% AXTI 784% · AEHR 741% · KLAC 402%
Communications Equipment 36 16.8%84.8%75.0% AAOI 1310% · LITE 990% · FEIM 981%
Electronic Components 26 32.0%62.1%64.5% CLS 3836% · BELFA 1302% · COHR 425%
Technology Hardware, Storage & Peripherals 20 33.3%77.5%50.2% DELL 1135% · STX 1090% · SMCI 949%
Semiconductors 55 20.4%28.8%38.4% POET 1815% · MU 1302% · NVDA 919%
Internet Services & Infrastructure 6 7.4%46.2%23.4% DOCN 58% · VRSN 41% · GDDY 35%
Electronic Equipment & Instruments 26 -13.1%6.0%-11.4% PI 216% · ACFN 114% · OSIS 112%
IT Consulting & Other Services 28 -24.5%-19.3%-28.5% CHRN 537268% · APLD 1258% · TSSI 669%
Application Software ← 122 -30.3%-16.0%-46.5% VIDA 176264% · INLX 5435% · PLTR 519%
Systems Software 68 -17.7%7.9%-55.7% QNC 457% · ZETA 379% · PANW 358%
Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

FROGGTLBMSFTAMZNGOOGLIBMMedian
NameJFrog GitLab MicrosoftAmazon.c.Alphabet Internat. 
Mkt Price92.8149.23493.78253.71349.54229.55241.63
Mkt Cap11.38.33,666.82,732.24,247.3216.11,474.1
Rev LTM6001,055331,839775,680445,86769,097200,468
Op Inc LTM-67-90155,23793,712147,62812,70553,208
FCF LTM17021466,987-11,62553,27313,1446,679
FCF 3Y Avg13310570,89016,73260,26312,29514,514
CFO LTM176223182,935161,403185,67514,88888,146
CFO 3Y Avg137111145,882130,164141,48113,97472,069

Growth & Margins

FROGGTLBMSFTAMZNGOOGLIBMMedian
NameJFrog GitLab MicrosoftAmazon.c.Alphabet Internat. 
Rev Chg LTM26.4%23.0%17.8%15.8%20.1%7.9%18.9%
Rev Chg 3Y Avg24.3%28.1%16.1%13.0%15.5%4.5%15.8%
Rev Chg Q28.7%21.3%17.7%19.6%24.2%1.1%20.5%
QoQ Delta Rev Chg LTM6.5%5.0%4.3%4.4%5.5%0.3%4.7%
Op Inc Chg LTM34.5%10.7%20.8%23.0%21.6%16.3%21.2%
Op Inc Chg 3Y Avg3.2%24.1%20.6%90.0%25.6%13.3%22.4%
Op Mgn LTM-11.1%-8.5%46.8%12.1%33.1%18.4%15.2%
Op Mgn 3Y Avg-16.7%-15.3%45.7%10.8%31.9%17.0%13.9%
QoQ Delta Op Mgn LTM3.0%-3.4%-0.0%0.6%0.4%-0.4%0.2%
CFO/Rev LTM29.4%21.2%55.1%20.8%41.6%21.5%25.5%
CFO/Rev 3Y Avg27.7%12.1%50.6%18.9%36.5%21.4%24.6%
FCF/Rev LTM28.3%20.3%20.2%-1.5%11.9%19.0%19.6%
FCF/Rev 3Y Avg26.9%11.5%25.3%2.8%16.1%18.9%17.5%

Valuation

FROGGTLBMSFTAMZNGOOGLIBMMedian
NameJFrog GitLab MicrosoftAmazon.c.Alphabet Internat. 
Mkt Cap11.38.33,666.82,732.24,247.3216.11,474.1
P/S18.87.911.03.59.53.18.7
P/Op Inc-169.6-92.123.629.228.817.020.3
P/EBIT-169.6-92.121.715.314.117.514.7
P/E-256.5-157.627.420.217.420.118.8
P/CFO64.137.220.016.922.914.521.5
Total Yield-0.4%-0.6%4.4%5.0%6.0%7.9%4.7%
Dividend Yield0.0%0.0%0.7%0.0%0.2%2.9%0.1%
FCF Yield 3Y Avg2.2%1.8%2.2%0.8%2.4%5.6%2.2%
D/E0.00.00.00.10.00.30.0
Net D/E-0.1-0.2-0.00.0-0.00.3-0.0

Returns

FROGGTLBMSFTAMZNGOOGLIBMMedian
NameJFrog GitLab MicrosoftAmazon.c.Alphabet Internat. 
1M Rtn1.8%15.6%2.1%-4.6%1.5%-3.2%1.6%
3M Rtn12.2%85.4%30.4%3.8%-5.0%-7.2%8.0%
6M Rtn119.6%121.3%29.8%23.5%16.3%-3.7%26.7%
12M Rtn85.6%-1.6%-2.1%9.7%39.1%-11.1%4.1%
3Y Rtn249.7%3.2%53.8%84.3%155.6%71.8%78.1%
1M Excs Rtn2.5%16.3%2.9%-3.8%2.2%-2.5%2.4%
3M Excs Rtn10.2%83.4%28.4%1.8%-7.0%-9.2%6.0%
6M Excs Rtn97.7%99.3%11.6%5.7%-1.9%-22.8%8.7%
12M Excs Rtn77.6%-18.3%-18.3%-6.4%24.5%-25.0%-12.3%
3Y Excs Rtn173.3%-74.7%-20.9%3.9%86.9%0.6%2.2%

Comparison Analyses

null

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Single Segment532428350280 
License    17
Software-as-a-service (SaaS)    50
Subscription    140
Total532428350280207


Net Income by Segment
$ Mil202520242023
Single Segment-72-69-61
Total-72-69-61


Price Behavior

Price Behavior
Market Price$92.81 
Market Cap ($ Bil)11.3 
First Trading Date09/16/2020 
Distance from 52W High-10.8% 
   50 Days200 Days
DMA Price$88.76$66.78
DMA Trendupup
Distance from DMA4.6%39.0%
 3M1YR
Volatility65.7%72.9%
Downside Capture199.46141.53
Upside Capture241.11189.49
Correlation (SPY)32.9%24.6%
FROG Betas & Captures as of 8/31/2026

 1M2M3M6M1Y3Y
Beta4.482.721.641.401.401.31
Up Beta2.133.701.470.750.961.24
Down Beta1.00-0.46-0.570.270.901.29
Up Capture789%362%375%442%317%351%
Bmk +ve Days10213268138427
Stock +ve Days9203068130382
Down Capture477%273%185%108%126%105%
Bmk -ve Days11213259113324
Stock -ve Days12223459121367

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with FROG
FROG94.0%72.9%1.21-
Sector ETF (XLK)40.5%26.4%1.2532.4%
Equity (SPY)16.9%12.9%0.9424.4%
Gold (GLD)19.1%29.3%0.603.2%
Commodities (DBC)46.9%20.6%1.76-3.0%
Real Estate (VNQ)4.9%13.6%0.10-1.6%
Bitcoin (BTCUSD)-34.5%43.9%-0.8418.6%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with FROG
FROG19.9%57.4%0.54-
Sector ETF (XLK)20.2%25.9%0.6942.3%
Equity (SPY)12.9%17.2%0.5740.0%
Gold (GLD)19.1%18.8%0.833.8%
Commodities (DBC)11.3%19.5%0.455.6%
Real Estate (VNQ)1.1%18.8%-0.0525.6%
Bitcoin (BTCUSD)11.2%52.5%0.3918.1%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with FROG
FROG3.4%57.9%0.33-
Sector ETF (XLK)24.4%25.0%0.8840.7%
Equity (SPY)15.1%18.0%0.7237.3%
Gold (GLD)12.1%16.4%0.614.7%
Commodities (DBC)8.3%18.1%0.376.0%
Real Estate (VNQ)4.4%20.7%0.1823.3%
Bitcoin (BTCUSD)61.7%66.1%1.0211.4%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date8312026
Short Interest: Shares Quantity6.5 Mil
Short Interest: % Change Since 8152026-23.7%
Average Daily Volume1.9 Mil
Days-to-Cover Short Interest3.5 days
Basic Shares Quantity121.8 Mil
Short % of Basic Shares5.3%

Earnings Returns History

Updated 9/9/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/6/20267.8%14.6%5.5%
5/7/202623.7%14.1%50.2%
2/12/2026-3.0%-29.2%-19.2%
11/6/202527.0%26.1%45.6%
8/7/202512.5%10.2%30.0%
5/8/202510.6%22.4%20.4%
2/13/20255.5%2.2%-8.9%
11/7/2024-5.4%-4.2%-5.9%
...
SUMMARY STATS   
# Positive121211
# Negative121213
Median Positive11.5%14.4%20.4%
Median Negative-6.2%-13.7%-18.2%
Max Positive28.4%28.6%50.2%
Max Negative-27.5%-29.2%-22.6%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/6/20267.8%14.6%5.5%
5/7/202623.7%14.1%50.2%
2/12/2026-3.0%-29.2%-19.2%
11/6/202527.0%26.1%45.6%
8/7/202512.5%10.2%30.0%
5/8/202510.6%22.4%20.4%
2/13/20255.5%2.2%-8.9%
11/7/2024-5.4%-4.2%-5.9%
8/7/2024-27.5%-23.9%-19.6%
5/9/2024-18.7%-19.0%-19.3%
2/14/202428.4%18.1%13.8%
11/1/202316.6%17.1%25.6%
8/2/20233.4%-3.6%1.1%
5/3/202315.4%28.6%35.4%
2/8/2023-1.8%-1.9%-22.6%
11/2/2022-1.3%-12.3%-1.7%
8/3/20222.2%8.6%-18.2%
5/9/2022-0.3%-3.8%0.2%
2/10/2022-7.1%-7.9%-19.5%
11/4/202110.1%4.5%-17.1%
8/5/2021-13.3%-16.1%-17.8%
5/6/2021-14.6%-18.1%9.2%
2/11/2021-0.2%1.4%-22.5%
11/4/2020-9.6%-15.0%-5.2%
SUMMARY STATS   
# Positive121211
# Negative121213
Median Positive11.5%14.4%20.4%
Median Negative-6.2%-13.7%-18.2%
Max Positive28.4%28.6%50.2%
Max Negative-27.5%-29.2%-22.6%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202608/07/202610-Q
03/31/202605/08/202610-Q
12/31/202502/13/202610-K
09/30/202511/07/202510-Q
06/30/202508/08/202510-Q
03/31/202505/09/202510-Q
12/31/202402/14/202510-K
09/30/202411/08/202410-Q
06/30/202408/08/202410-Q
03/31/202405/10/202410-Q
12/31/202302/15/202410-K
09/30/202311/02/202310-Q
06/30/202308/03/202310-Q
03/31/202305/04/202310-Q
12/31/202202/09/202310-K
09/30/202211/03/202210-Q
Collapse to Preview
Report DateFiling DateFiling
06/30/202608/07/202610-Q
03/31/202605/08/202610-Q
12/31/202502/13/202610-K
09/30/202511/07/202510-Q
06/30/202508/08/202510-Q
03/31/202505/09/202510-Q
12/31/202402/14/202510-K
09/30/202411/08/202410-Q
06/30/202408/08/202410-Q
03/31/202405/10/202410-Q
12/31/202302/15/202410-K
09/30/202311/02/202310-Q
06/30/202308/03/202310-Q
03/31/202305/04/202310-Q
12/31/202202/09/202310-K
09/30/202211/03/202210-Q
06/30/202208/04/202210-Q
03/31/202205/09/202210-Q
12/31/202102/11/202210-K
09/30/202111/05/202110-Q
06/30/202108/06/202110-Q
03/31/202105/07/202110-Q
12/31/202002/12/202110-K
09/30/202011/05/202010-Q
06/30/202009/16/2020424B4
06/30/201908/24/2020S-1

Recent Forward Guidance

Updated 8/7/2026

Latest: Q2 2026 Earnings Reported 8/6/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q3 2026 RevenueReported164.00 Mil165.00 Mil166.00 Mil   
Q3 2026 Non-GAAP Operating IncomeReported27.00 Mil28.00 Mil29.00 Mil   
Q3 2026 Non-GAAP EPSReported0.220.230.24   
2026 RevenueReported648.00 Mil650.00 Mil652.00 Mil3.2% RaisedGuidance: 630.00 Mil for 2026
2026 Non-GAAP Operating IncomeReported116.00 Mil118.00 Mil120.00 Mil3.5% RaisedGuidance: 114.00 Mil for 2026
2026 Non-GAAP EPSReported0.960.9813.2% RaisedGuidance: 0.95 for 2026


Prior: Q1 2026 Earnings Reported 5/7/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q2 2026 RevenueReported154.00 Mil155.00 Mil156.00 Mil   
Q2 2026 Non-GAAP Operating IncomeReported28.00 Mil29.00 Mil30.00 Mil   
Q2 2026 Non-GAAP Net Income Per Diluted ShareReported0.230.240.25   
2026 RevenueReported628.00 Mil630.00 Mil632.00 Mil0.7% RaisedGuidance: 625.50 Mil for 2026
2026 Non-GAAP Operating IncomeReported112.00 Mil114.00 Mil116.00 Mil6.5% RaisedGuidance: 107.00 Mil for 2026
2026 Non-GAAP Net Income Per Diluted ShareReported0.930.950.975.6% RaisedGuidance: 0.9 for 2026

Q4 2025 Earnings Reported 2/12/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q1 2026 RevenueReported146.00 Mil147.00 Mil148.00 Mil6.9% Higher NewActual: 137.50 Mil for Q4 2025
Q1 2026 Non-GAAP Operating IncomeReported25.00 Mil25.50 Mil26.00 Mil18.6% Higher NewActual: 21.50 Mil for Q4 2025
Q1 2026 Non-GAAP Net Income Per Diluted ShareReported0.20.210.2210.5% Higher NewActual: 0.19 for Q4 2025
2026 RevenueReported623.00 Mil625.50 Mil628.00 Mil19.4% Higher NewActual: 524.00 Mil for 2025
2026 Non-GAAP Operating IncomeReported106.00 Mil107.00 Mil108.00 Mil21.9% Higher NewActual: 87.80 Mil for 2025
2026 Non-GAAP Net Income Per Diluted ShareReported0.880.90.9213.9% Higher NewActual: 0.79 for 2025

Q3 2025 Earnings Reported 11/6/2025

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q4 2025 RevenueReported136.50 Mil137.50 Mil138.50 Mil7.4% Higher NewGuidance: 128.00 Mil for Q3 2025
Q4 2025 Non-GAAP Operating IncomeReported21.00 Mil21.50 Mil22.00 Mil22.9% Higher NewGuidance: 17.50 Mil for Q3 2025
Q4 2025 Non-GAAP Net Income Per Diluted ShareReported0.180.190.218.8% Higher NewGuidance: 0.16 for Q3 2025
2025 RevenueReported523.00 Mil524.00 Mil525.00 Mil3.0% RaisedGuidance: 508.50 Mil for 2025
2025 Non-GAAP Operating IncomeReported87.30 Mil87.80 Mil88.30 Mil14.8% RaisedGuidance: 76.50 Mil for 2025
2025 Non-GAAP Net Income Per Diluted ShareReported0.780.790.814.5% RaisedGuidance: 0.69 for 2025

Insider Activity

Updated 9/16/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Zwarenstein, BarryDirectSell916202688.381,250110,4752,690,022Form
2Shlomi, Ben HaimCHIEF EXECUTIVE OFFICERDirectSell910202685.3545,7003,900,678379,765,977Form
3Notman, TaliCHIEF REVENUE OFFICERDirectSell910202686.9818,7941,634,66058,160,120Form
4Landman, YoavCHIEF TECHNOLOGY OFFICERDirectSell909202689.2745,0004,016,997460,083,470Form
5Grabscheid, EduardCHIEF FINANCIAL OFFICERDirectSell904202691.608,436772,71917,592,283Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Zwarenstein, BarryDirectSell916202688.381,250110,4752,690,022Form
2Shlomi, Ben HaimCHIEF EXECUTIVE OFFICERDirectSell910202685.3545,7003,900,678379,765,977Form
3Notman, TaliCHIEF REVENUE OFFICERDirectSell910202686.9818,7941,634,66058,160,120Form
4Landman, YoavCHIEF TECHNOLOGY OFFICERDirectSell909202689.2745,0004,016,997460,083,470Form
5Grabscheid, EduardCHIEF FINANCIAL OFFICERDirectSell904202691.608,436772,71917,592,283Form
6Grabscheid, EduardCHIEF FINANCIAL OFFICERDirectSell904202690.518,780794,67818,146,893Form
7Notman, TaliCHIEF REVENUE OFFICERDirectSell904202690.5119,1571,733,90062,223,091Form
8Shlomi, Ben HaimCHIEF EXECUTIVE OFFICERDirectSell903202690.5137,2323,369,868406,842,903Form
9Simon, FredericDirectSell903202693.21120,00011,185,778266,997,809Form
10Steele, ElisaDirectSell9012026103.4155457,2892,455,988Form
11Landman, YoavCHIEF TECHNOLOGY OFFICERDirectSell8312026100.72249,30025,110,641523,670,993Form
12Simon, FredericDirectSell817202690.86120,00010,903,555271,164,867Form
13Landman, YoavCHIEF TECHNOLOGY OFFICERDirectSell817202690.8645,0004,088,726495,039,103Form
14Shlomi, Ben HaimCHIEF EXECUTIVE OFFICERDirectSell811202691.0015,0001,365,057415,180,864Form
15Zwarenstein, BarryDirectSell727202680.101,250100,1252,538,129Form
16Sela, YossiDirectSell720202687.4325,0002,185,7447,287,184Form
17Shlomi, Ben HaimCHIEF EXECUTIVE OFFICERDirectSell710202694.3715,0001,415,526431,946,486Form
18Landman, YoavCHIEF TECHNOLOGY OFFICERDirectSell709202699.0070069,300548,295,462Form
19Shlomi, Ben HaimCHIEF EXECUTIVE OFFICERDirectSell701202690.0365,9995,941,890413,439,097Form
20Landman, YoavCHIEF TECHNOLOGY OFFICERDirectSell701202689.99150,00013,498,500498,458,030Form
21Landman, YoavCHIEF TECHNOLOGY OFFICERDirectSell616202678.1145,0003,514,800444,351,824Form
22Shlomi, Ben HaimCHIEF EXECUTIVE OFFICERDirectSell610202684.6093,0727,873,827394,083,560Form
23Zwarenstein, BarryDirectSell610202684.351,250105,4382,778,236Form
24Notman, TaliCHIEF REVENUE OFFICERDirectSell609202683.9522,0151,848,24759,324,334Form
25Grabscheid, EduardCHIEF FINANCIAL OFFICERDirectSell604202684.695,654478,82817,755,582Form
26Grabscheid, EduardCHIEF FINANCIAL OFFICERDirectSell604202686.549,484820,74518,633,100Form
27Notman, TaliCHIEF REVENUE OFFICERDirectSell604202686.5422,8541,977,78563,056,852Form
28Shlomi, Ben HaimCHIEF EXECUTIVE OFFICERDirectSell604202686.5443,0563,726,066411,178,194Form
29Simon, FredericDirectSell603202685.84120,00010,300,767276,775,422Form
30Landman, YoavCHIEF TECHNOLOGY OFFICERDirectSell603202681.47100,0008,146,952467,149,348Form
31Shlomi, Ben HaimCHIEF EXECUTIVE OFFICERDirectSell602202675.0251,2373,843,800359,673,187Form
32Shlomi, Ben HaimCHIEF EXECUTIVE OFFICERDirectSell528202675.0448,7633,659,176363,613,899Form
33Wassenaar, YvonneDirectSell522202672.401,36899,0431,588,746Form
34Steele, ElisaDirectSell522202672.4068449,5221,759,610Form
35Simon, FredericDirectSell518202663.78117,5007,493,881213,067,687Form
36Landman, YoavCHIEF TECHNOLOGY OFFICERDirectSell518202664.2275,0004,816,295369,469,961Form
37Shlomi, Ben HaimCHIEF EXECUTIVE OFFICERDirectSell508202652.2725,0001,306,699246,456,529Form
38Zwarenstein, BarryDirectSell505202649.001,25061,2501,458,240Form
39Landman, YoavCHIEF TECHNOLOGY OFFICERDirectSell414202642.8715,000643,012249,850,146Form
40Shlomi, Ben HaimCHIEF EXECUTIVE OFFICERDirectSell409202648.8825,0001,221,886231,681,761Form
41Simon, FredericDirectSell403202650.3525,0001,258,750174,124,700Form
42Simon, FredericDirectSell403202648.3455,0002,658,754168,385,466Form
43Zwarenstein, BarryDirectSell330202649.001,25061,2501,531,397Form
44Simon, FredericDirectSell327202648.179,600462,432170,439,237Form
45Grabscheid, EduardCHIEF FINANCIAL OFFICERDirectSell327202645.009,043406,93510,115,820Form
46Sela, YossiDirectSell327202645.2025,0001,130,0004,697,274Form
47Shlomi, Ben HaimCHIEF EXECUTIVE OFFICERDirectSell327202645.0725,0001,126,750214,769,772Form
48Simon, FredericDirectSell327202646.1010,400479,400163,543,899Form
49Shlomi, Ben HaimCHIEF EXECUTIVE OFFICERDirectSell309202641.5025,3631,052,661198,813,495Form
50Notman, TaliCHIEF REVENUE OFFICERDirectSell309202641.2821,097870,79131,063,939Form
51Simon, FredericDirectSell304202642.0810,000420,800149,732,675Form
52Grabscheid, EduardCHIEF FINANCIAL OFFICERDirectSell304202640.326,063244,4609,428,388Form
53Notman, TaliCHIEF REVENUE OFFICERDirectSell30420264015.0035,856143,961,8403,106,385,425Form
54Shlomi, Ben HaimCHIEF EXECUTIVE OFFICERDirectSell304202640.1571,8412,884,416193,346,822Form
55Simon, FredericDirectSell304202640.1825,0001,004,500143,373,731Form
56Grabscheid, EduardCHIEF FINANCIAL OFFICERDirectSell304202640.1515,639627,9069,632,065Form
57Steele, ElisaDirectSell226202634.7968423,796715,317Form
58Wassenaar, YvonneDirectSell226202634.791,36747,558657,009Form
59Landman, YoavCHIEF TECHNOLOGY OFFICERDirectSell217202655.8630,0001,675,800326,414,391Form
60Landman, YoavCHIEF TECHNOLOGY OFFICERDirectSell217202653.1915,000797,794312,386,089Form
61Simon, FredericDirectSell217202653.2067,5003,590,730191,148,442Form
62Shlomi, Ben HaimCHIEF EXECUTIVE OFFICERDirectSell209202651.9225,0001,298,058246,210,086Form
63Landman, YoavCHIEF TECHNOLOGY OFFICERDirectSell121202657.7145,0002,596,950338,679,230Form
64Shlomi, Ben HaimCHIEF EXECUTIVE OFFICERDirectSell109202659.6625,0001,491,500284,392,836Form
65Simon, FredericDirectSell106202659.5180,0004,761,170217,870,300Form
66Landman, YoavCHIEF TECHNOLOGY OFFICERDirectSell1216202568.7945,0003,095,756406,826,383Form
67Sela, YossiDirectSell1212202570.0025,0001,750,0009,041,550Form
68Landman, YoavCHIEF TECHNOLOGY OFFICERDirectSell1212202569.2270,0004,845,400412,457,130Form
69Notman, TaliCHIEF REVENUE OFFICERDirectSell1210202564.8013,357865,58240,912,134Form
70Shlomi, Ben HaimCHIEF EXECUTIVE OFFICERDirectSell1209202564.4948,7443,143,475309,026,624Form
71Sela, YossiDirectSell1209202563.8150,0003,190,4639,837,155Form
72Landman, YoavCHIEF TECHNOLOGY OFFICERDirectSell1209202564.9850,0003,249,000391,741,092Form
73Steele, ElisaDirectSell1209202563.435,460346,3271,362,982Form
74Grabscheid, EduardCHIEF FINANCIAL OFFICERDirectSell1204202560.803,439209,0917,847,699Form
75Notman, TaliCHIEF REVENUE OFFICERDirectSell1204202560.9314,160862,76939,280,474Form
76Shlomi, Ben HaimCHIEF EXECUTIVE OFFICERDirectSell1204202560.9328,5151,737,419294,940,012Form
77Grabscheid, EduardCHIEF FINANCIAL OFFICERDirectSell1204202560.933,652222,5168,074,017Form
78Simon, FredericDirectSell1204202561.0312,500762,875228,300,170Form
79Wassenaar, YvonneDirectSell1204202560.091,36882,2031,349,141Form
80Landman, YoavCHIEF TECHNOLOGY OFFICERDirectSell1203202560.0840,0002,403,200365,204,751Form
81Simon, FredericDirectSell1201202560.0867,5004,055,244225,488,749Form
82Simon, FredericDirectSell1126202561.7680,0004,940,562238,862,952Form
83Vitus, Andrew LSee footnoteSell1126202562.175,982371,901315,451Form
84Simon, FredericDirectSell1112202565.0937,1172,415,946256,961,391Form
85Simon, FredericDirectSell1112202558.84100,0005,883,599234,455,729Form
86Shlomi, Ben HaimCHIEF EXECUTIVE OFFICERDirectSell1110202546.0115,000690,115224,018,348Form
87Wassenaar, YvonneDirectSell1022202547.941,37265,7741,404,978Form
88Simon, FredericDirectSell1016202546.9235,0001,642,039191,644,844Form
89Shlomi, Ben HaimCHIEF EXECUTIVE OFFICERDirectSell1009202548.0815,000721,217234,835,420Form
90Notman, TaliCHIEF REVENUE OFFICERDirectSell1003202547.201,69379,91331,098,654Form
91Wassenaar, YvonneDirectSell1002202549.901,37268,4631,530,882Form
92Simon, FredericDirectSell911202550.0135,0001,750,371206,038,854Form
93Notman, TaliCHIEF REVENUE OFFICERDirectSell910202550.2613,067656,74733,113,399Form
94Shlomi, Ben HaimCHIEF EXECUTIVE OFFICERDirectSell910202550.3238,1591,920,131246,539,574Form
95Grabscheid, EduardCHIEF FINANCIAL OFFICERDirectSell904202547.294,908232,0776,438,618Form
96Grabscheid, EduardCHIEF FINANCIAL OFFICERDirectSell904202547.782,695128,7676,740,468Form
97Notman, TaliCHIEF REVENUE OFFICERDirectSell904202547.7814,451690,46932,103,812Form
98Shlomi, Ben HaimCHIEF EXECUTIVE OFFICERDirectSell904202547.7829,1011,390,446235,904,720Form

Investor Activity (13F)

Updated Sep 19, 2026
13F holdings as of Mar 31, 2026 (Q1 2026)

Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Optimus Prime Fund Management Co., Ltd.$220.6 Mil21.3%27Hold13F
Praesidium Investment Management Company, LLC$47.6 Mil11.4%12TRIM -32.9%13F
Light Street Capital Management, LLC$27.0 Mil5.4%23ADD +24.5%13F
Cypress Point Investment Management LP$21.8 Mil5.1%32ADD +9.4%13F
Whale Rock Capital Management LLC$282.5 Mil3.6%35ADD +13.6%13F
Dorsal Capital Management, LP$54.0 Mil2.1%25New13F
Greenvale Capital LLP$12.9 Mil1.4%12New13F
Kinetic Partners Management, LP$21.1 Mil1.2%49TRIM -8.1%13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Dorsal Capital Management, LP$54.0 Mil2.1%25New13F
Greenvale Capital LLP$12.9 Mil1.4%12New13F
Light Street Capital Management, LLC$27.0 Mil5.4%23ADD +24.5%13F
Whale Rock Capital Management LLC$282.5 Mil3.6%35ADD +13.6%13F
Cypress Point Investment Management LP$21.8 Mil5.1%32ADD +9.4%13F
Active ManagerValue% of PortfolioTotal PositionsQoQAs OfFiling
Anatole Investment Management Ltd$86.6 Mil14.4%15ExitedDec 31, 202513F
Grandeur Peak Global Advisors, LLC$75.2 Mil10.1%102ExitedDec 31, 202513F
Melqart Asset Management (UK) Ltd$5.2 Mil0.5%44ExitedDec 31, 202513F
Praesidium Investment Management Company, LLC$47.6 Mil11.4%12TRIM -32.9%Mar 31, 202613F
Kinetic Partners Management, LP$21.1 Mil1.2%49TRIM -8.1%Mar 31, 202613F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Whale Rock Capital Management LLC$282.5 Mil3.6%35ADD +13.6%13F
Optimus Prime Fund Management Co., Ltd.$220.6 Mil21.3%27Hold13F
Dorsal Capital Management, LP$54.0 Mil2.1%25New13F
Praesidium Investment Management Company, LLC$47.6 Mil11.4%12TRIM -32.9%13F
Light Street Capital Management, LLC$27.0 Mil5.4%23ADD +24.5%13F
Cypress Point Investment Management LP$21.8 Mil5.1%32ADD +9.4%13F
Kinetic Partners Management, LP$21.1 Mil1.2%49TRIM -8.1%13F
Greenvale Capital LLP$12.9 Mil1.4%12New13F
Core Cache Last Updated: 9/18/2026