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JFrog Stock Jumps as Earnings Top Estimates. CEO Sees No Disruption to Growth From Israel War.

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Software-development-tools firm JFrog beat third-quarter estimates, and provided upbeat guidance.

Software-development-tools company JFrog posted better-than-expected third-quarter results, while providing upbeat guidance despite the impact of its business from the war in Israel, where the company has more than half of its employees.For the quarter, JFrog posted reported third-quarter revenue of $88.6 million, up 23% from a year ago, ahead of both the company’s guidance range of $87 million to $88 million, and the Street consensus forecast at $87.6 million as tracked by FactSet.

For the fourth quarter, JFrog sees revenue of $92.5 million to $93.5 million, with a non-GAAP profit of 12 cents to 13 cents a share; Street consensus estimates had been for revenue of $92.9 million and earnings of 8 cents per share. Newsletter Sign-up Ben Haim noted that about 800 of the company’s 1,400 employees are based in Israel, and that fewer than 100 have been called up to active duty by the Israel Defense Forces. He said that two days after the conflict started on Oct. 7, he left the Bay Area to be with his team in Israel.

 

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