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JFrog Ltd

Income Statement

Standardized | As Reported Annual | Quarterly | TTM
 
In millions, except per share itemsDec-31-22Dec-31-21Dec-31-20Dec-31-19Dec-31-18
   10-K10-K10-K10-KS-1/A
Revenues:  
    United States  176.3129.596.865.0 
    Israel  6.94.52.81.9 
    Other  96.872.651.237.8 
Total revenues  280.0206.7150.8104.763.5
            Revenue growth   [+]35.5%37.0%44.0%64.8% 
Cost of goods sold  62.341.828.520.010.7
Gross profit  217.8164.9122.484.752.8
            Gross margin  77.8%79.8%81.1%80.9%83.1%
Selling, general and administrative   [+]186.4153.695.561.953.8
Research and development  121.279.641.129.725.9
EBITDA   [+]-75.2-59.6-10.5-4.1-25.7
            EBITDA margin  -26.8%-28.8%-7.0%-3.9%-40.5%
Depreciation  3.12.82.11.31.1
EBITA  -78.2-62.5-12.6-5.4-26.9
            EBITA margin  -27.9%-30.2%-8.3%-5.2%-42.3%
Amortization of intangibles  11.65.91.61.5 
EBIT   [+]-89.8-68.4-14.2-6.9-26.9
            EBIT margin  -32.1%-33.1%-9.4%-6.6%-42.3%
Other income (expense), net  5.10.72.03.21.3
Pre-tax income  -84.7-67.6-12.1-3.8-25.5
Income taxes  5.4-3.4-2.71.60.5
            Tax rate   5.1%22.6%  
Net income  -90.2-64.2-9.4-5.4-26.0
            Net margin  -32.2%-31.1%-6.2%-5.2%-40.9%
   
Basic EPS   [+]($0.91)($0.68)($0.20)($0.20) 
Diluted EPS   [+]($0.91)($0.68)($0.20)($0.20) 
   
Shares outstanding (basic)   [+]99.294.846.527.1 
Shares outstanding (diluted)   [+]99.294.846.527.1 
   
EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.  

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