JFrog Ltd. (FROG): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el panorama en rápida evolución de DevOps y el desarrollo de software, JFrog Ltd. surge como una fuerza transformadora, ofreciendo una plataforma integral de gestión de artefactos que revoluciona cómo las empresas administran, aseguran y distribuyen software en ecosistemas tecnológicos complejos. Al integrar sin problemas soluciones avanzadas nativas en la nube con marcos de seguridad robustos, JFrog se ha posicionado como un facilitador crítico para las organizaciones que buscan acelerar su transformación digital, optimizar las tuberías de entrega de software y mantener una ventaja competitiva en un mercado tecnológico cada vez más dinámico.

JFrog Ltd. (Frog) - Modelo de negocio: asociaciones clave

Proveedores de servicios en la nube

JFrog tiene asociaciones estratégicas con los principales proveedores de servicios en la nube:

Proveedor de nubes	Detalles de la asociación	Estado de integración
Servicios web de Amazon (AWS)	JFrog Artifactory Cloud Marketplace Listado	Totalmente integrado
Microsoft Azure	Solución del mercado de Azure	Totalmente integrado
Plataforma en la nube de Google	Integración del lanzador de nubes	Totalmente integrado

Integradores de herramientas de desarrollo de software de DevOps

JFrog mantiene integraciones integrales con herramientas de desarrollo:

• Jenkins
• Gitlab
• Github
• Circleci
• Bitbucket atlassian

Proveedores de software empresarial

Proveedor	Alcance de la asociación	Integración tecnológica
Flojo	Integración de Analytics DevOps	Monitoreo avanzado
Nueva reliquia	Monitoreo del rendimiento	Integración de observabilidad
Datadog	Monitoreo de infraestructura	Registro integral

Colaboradores comunitarios de código abierto

JFrog apoya y colabora activamente con ecosistemas de código abierto:

• Kubernetes
• Estibador
• Timón
• Terraformado
• Ansible

Empresas de consultoría de tecnología

Consultoría	Enfoque de asociación	Nivel de implementación
Acentuar	Transformación de DevOps empresarial	Asociación estratégica
Deloitte	Servicios de migración en la nube	Integración avanzada
Kpmg	Consultoría de transformación digital	Colaboración integral

JFrog Ltd. (Frog) - Modelo de negocio: actividades clave

Desarrollo de la plataforma de gestión de artefactos de software continuo

JFrog invirtió $ 124.1 millones en gastos de I + D en el año fiscal 2022. La compañía mantiene un equipo de ingeniería dedicado de aproximadamente 450 profesionales centrados en el desarrollo de la plataforma.

Inversión de I + D	Tamaño del equipo de ingeniería	Frecuencia de lanzamiento de la plataforma
$ 124.1 millones (2022)	450 profesionales	4-6 lanzamientos principales anualmente

Soluciones de optimización de tuberías de DevOps y CI/CD

Las soluciones de DevOps de JFrog admiten la integración con más de 30 herramientas de desarrollo e implementación diferentes.

• Implementaciones empresariales de artefactorias: más de 7,000 clientes
• Valor promedio de contrato empresarial: $ 232,000
• Cobertura de integración de la plataforma DevOps: 95% de los principales entornos de desarrollo de nubes y de desarrollo

Investigación de seguridad y gestión de artefactos

El equipo de investigación de seguridad de JFrog identificó e informó más de 850 vulnerabilidades de software en 2022.

Informes de vulnerabilidad de seguridad	Tamaño del equipo de investigación	Frecuencia de parche de seguridad
850+ vulnerabilidades reportadas	45 investigadores de seguridad	Actualizaciones de seguridad quincenales

Servicios de atención al cliente y implementación

JFrog mantiene una infraestructura global de atención al cliente con tiempos de respuesta con un promedio de 2.5 horas.

• Personal de apoyo: más de 250 profesionales
• Centros de apoyo global: 4 ubicaciones
• Calificación de satisfacción del cliente: 94%

Innovación de productos y mejora de características

JFrog lanzó 12 mejoras principales de productos en 2022, con un enfoque en Kubernetes y tecnologías nativas de nube.

Mejoras de productos	Inversión de innovación	Nuevo desarrollo de características
12 lanzamientos principales	38% de los ingresos	75+ nuevas características

JFrog Ltd. (Frog) - Modelo de negocio: recursos clave

Tecnología de gestión de artefactos de software avanzado

JFrog Artifactory Enterprise+ Plataforma maneja 1.2 billones de descargas binarias anualmente a partir de 2023. La plataforma admite más de 20 tipos de paquetes y administradores de paquetes en los ecosistemas de desarrollo de software.

Métrica de tecnología	Valor cuantitativo
Descargas binarias totales	1.2 billones/año
Tipos de paquetes compatibles	20+
Clientes empresariales globales	7,200+

Plataforma de automatización de DevOps patentada

La plataforma DevOps de JFrog integra flujos de trabajo de integración continua/entrega continua (CI/CD) con capacidades avanzadas de escaneo de seguridad.

• JFrog XRAY proporciona cobertura de análisis de composición de software al 100%
• La plataforma admite más de 30 lenguajes de programación
• Tasa de detección de vulnerabilidad en tiempo real: 99.8%

Talento de ingeniería técnica

A partir del cuarto trimestre de 2023, JFrog emplea a más de 1,200 profesionales técnicos a nivel mundial en los departamentos de ingeniería, investigación y desarrollo.

Categoría de talento	Número de profesionales
Empleados técnicos totales	1,200+
Inversión de I + D	$ 138.2 millones (2023)

Cartera de propiedad intelectual extensa

JFrog posee 87 patentes registradas a diciembre de 2023, cubriendo la gestión de artefactos de software y las tecnologías de automatización de DevOps.

Infraestructura global en la nube

JFROG opera infraestructura en la nube de múltiples regiones con presencia en 6 regiones globales, lo que respalda la escalabilidad y el rendimiento de grado empresarial.

Infraestructura métrica	Detalles
Regiones de nubes globales	6
Proveedores de servicios en la nube	AWS, Azure, Google Cloud
Gasto anual de infraestructura en la nube	$ 42.7 millones (2023)

JFrog Ltd. (Frog) - Modelo de negocio: propuestas de valor

Gestión de artefactos universales en todo el ciclo de vida del desarrollo de software

JFrog Artifactory Enterprise: más de 10,000 clientes empresariales a partir del cuarto trimestre de 2023. Ingresos recurrentes anuales (ARR) para soluciones de gestión de artefactos: $ 381.3 millones en 2023.

Producto	Métricas clave	Adopción del cliente
JFrog Artifactory	Repositorio de artefactos universales	Utilizado por el 70% de las empresas Fortune 100
Distribución de jfrog	Gestión de lanzamientos de software	Más de 5,000 implementaciones empresariales

Velocidad y confiabilidad de liberación de software mejorada

La tecnología de paquete de lanzamiento de JFrog permite ciclos de implementación de software 60% más rápidos para clientes empresariales.

• La frecuencia de implementación promedio aumentó en un 45%
• Tiempo medio de recuperación reducido en un 35%
• Las tasas de error de liberación de software disminuyeron en un 28%

Soluciones integrales de seguridad y cumplimiento

JFrog XRAY: escaneo de seguridad avanzado con 99.8% de precisión de detección de vulnerabilidades.

Característica de seguridad	Cobertura	Tasa de detección
Escaneo de vulnerabilidad	Más de 100 ecosistemas de paquetes	99.8%
Controles de cumplimiento	Más de 50 estándares de la industria	97% de precisión

Plataforma de DevOps unificada para entornos híbridos y de múltiples nubes

La plataforma JFROG admite la implementación en 5 principales proveedores de la nube con una garantía de tiempo de actividad del 99.99%.

• Integración de la nube de AWS
• Soporte de Microsoft Azure
• Compatibilidad de la plataforma en la nube de Google
• Implementación en la nube de IBM
• Infraestructura de Oracle Cloud

Capacidades avanzadas de optimización y distribución de artefactos

JFrog Edge Network: 200+ nodos globales de borde que reducen los tiempos de descarga de artefactos en un 40%.

Métrico de distribución	Actuación	Alcance global
Descargar Aceleración	40% más rápido	Más de 200 nodos de borde
Optimización de ancho de banda	25% de carga de red reducida	Cobertura empresarial global

JFrog Ltd. (Frog) - Modelo de negocio: relaciones con los clientes

Portal de soporte en línea de autoservicio

JFrog proporciona un portal de soporte en línea integral con las siguientes métricas:

Soporte de la métrica del portal	Datos cuantitativos
Artículos de base de conocimiento	Más de 2,500 artículos técnicos
Tiempo de resolución de autoservicio promedio	24 minutos
Tiempo de actividad del portal del cliente	99.99%

Gestión técnica del éxito del cliente

El enfoque de éxito del cliente de JFrog incluye:

• Gerentes de éxito de clientes dedicados para clientes empresariales
• Soporte técnico disponible en 6 idiomas
• Soporte premium 24/7 para clientes empresariales

Foros de desarrollo impulsados ​​por la comunidad

Métrica de compromiso de la comunidad	Datos cuantitativos
Miembros activos de la comunidad	85,000+
Interacciones mensuales del foro	12,500 discusiones técnicas
Estrellas del repositorio de Github	4,200

Servicios personalizados de incorporación e implementación

JFrog ofrece estrategias de implementación a medida:

• Consulta inicial gratuita para nuevos clientes empresariales
• Planificación de integración personalizada
• Especialistas de incorporación técnica dedicada

Seminarios web y capacitación regulares de productos

Capacitación y métrica de seminarios web	Datos cuantitativos
Seminarios web mensuales	12-15 sesiones técnicas
Participantes de capacitación anual	5.600 profesionales
Tasa de finalización de capacitación en línea	87%

JFrog Ltd. (Frog) - Modelo de negocio: canales

Equipo de ventas de Enterprise Direct

A partir del cuarto trimestre de 2023, el equipo de ventas de Direct Enterprise de JFrog constaba de 218 profesionales de ventas dedicados. El equipo generó $ 293.4 millones en ingresos recurrentes anuales (ARR) en 2023.

Métrica del equipo de ventas	2023 datos
Número de representantes de ventas empresariales	218
Ingresos recurrentes anuales (ARR)	$ 293.4 millones
Tamaño de trato promedio	$124,000

Marketing digital en línea

JFrog invirtió $ 37.2 millones en canales de marketing digital en 2023, lo que representa el 12.7% de los ingresos totales.

• Los canales de marketing digital incluyen sitio web, marketing de motores de búsqueda, plataformas de redes sociales
• Gasto de Google ADS: $ 8.4 millones
• Presupuesto de publicidad de LinkedIn: $ 5.6 millones

Conferencias tecnológicas y eventos de la industria

JFrog participó en 42 conferencias de tecnología global en 2023, con un presupuesto de marketing de eventos de $ 6.3 millones.

Tipo de evento	Número de eventos	Asignación de presupuesto
Conferencias de tecnología global	42	$ 6.3 millones
Participación de la cumbre de DevOps	12	$ 2.1 millones

Referencias de ecosistema de socios

La red de socios de JFrog generó $ 87.6 millones en ingresos a través de 156 socios de tecnología activa en 2023.

• Asociaciones del proveedor de servicios en la nube: 48
• Asociaciones de integrador de sistemas: 62
• Asociaciones de Alianza de Tecnología: 46

Distribución digital de plataforma SaaS

La plataforma SaaS de JFrog facilitó $ 412.5 millones en distribución de software digital durante 2023.

Canal de distribución	Valor total	Porcentaje de ingresos totales
Plataforma SaaS directa	$ 412.5 millones	47.3%
Distribución del mercado	$ 76.4 millones	8.7%

JFrog Ltd. (Frog) - Modelo de negocio: segmentos de clientes

Equipos de desarrollo de software empresarial

A partir del cuarto trimestre de 2023, JFrog atiende a aproximadamente 7.400 equipos de desarrollo de software empresarial a nivel mundial.

Tipo de cliente	Total de clientes	Gasto anual
Equipos de desarrollo empresarial	7,400	Valor de contrato anual promedio de $ 3.2M

Organizaciones de tecnología a gran escala

La base de clientes de JFrog incluye el 70% de las compañías de tecnología Fortune 100.

• Las principales organizaciones de tecnología gastan más de $ 500,000 anuales: 412
• Duración promedio del contrato: 2.7 años
• Tasa de renovación: 93%

DevOps y empresas nativas de la nube

El segmento de mercado de DevOps representa el 45% de la base total de clientes de JFrog.

Segmento DevOps	Total de clientes	Penetración del mercado
Empresas nativas de la nube	1,850	32% de la base total de clientes

Departamentos de tecnología de servicios financieros

El sector de tecnología financiera comprende el 18% de los segmentos totales de clientes de JFrog.

• Total de servicios de servicios financieros: 620
• Valor promedio del contrato anual: $ 425,000
• Clientes centrados en el cumplimiento: 276

Grupos de tecnología gubernamental y del sector público

El segmento de tecnología gubernamental representa el 12% de la base de clientes de JFrog.

Segmento gubernamental	Total de clientes	Ingresos anuales
Grupos de tecnología del sector público	340	$ 54.3 millones de ingresos anuales

JFrog Ltd. (Frog) - Modelo de negocio: Estructura de costos

Inversiones de investigación y desarrollo

Para el año fiscal 2022, JFrog invirtió $ 143.8 millones en gastos de investigación y desarrollo, lo que representa el 37.1% de los ingresos totales.

Año fiscal	Gastos de I + D	Porcentaje de ingresos
2022	$ 143.8 millones	37.1%
2021	$ 125.4 millones	35.6%

Mantenimiento de la infraestructura en la nube

Los costos de mantenimiento de la infraestructura en la nube de JFrog se estimaron en $ 42.6 millones en 2022, cubriendo las operaciones del centro de datos global y los gastos de servicio en la nube.

• Amazon Web Services (AWS) Socio de infraestructura de la nube primaria
• Gasto anual de infraestructura de nube anual: $ 42.6 millones
• Estrategia de implementación en la nube de múltiples regiones

Gastos de ventas y marketing

En el año fiscal 2022, JFrog gastó $ 186.5 millones en ventas y marketing, lo que representa el 47.9% de los ingresos totales.

Año fiscal	Ventas & Gastos de marketing	Porcentaje de ingresos
2022	$ 186.5 millones	47.9%
2021	$ 168.3 millones	47.8%

Adquisición y retención de talentos globales

Los gastos totales de personal para JFrog en 2022 fueron de aproximadamente $ 279.2 millones, incluidos salarios, beneficios y compensación basada en acciones.

• Total de empleados: 812 (al 31 de diciembre de 2022)
• Salario promedio por empleado: $ 343,600
• Compensación basada en acciones: $ 54.3 millones en 2022

Innovación de plataforma continua

JFrog asignó $ 25.7 millones específicamente para la innovación de la plataforma y la mejora de la tecnología en 2022.

Categoría de innovación	Monto de la inversión
Nuevo desarrollo de características	$ 15.3 millones
Actualizaciones tecnológicas	$ 10.4 millones

JFrog Ltd. (Frog) - Modelo de negocio: flujos de ingresos

Precios de plataforma SaaS basados ​​en suscripción

JFrog ofrece múltiples niveles de suscripción para su plataforma DevOps:

Nivel	Fijación de precios anuales	Características clave
Nube básica	$ 15 por usuario/mes	Gestión de artefactos centrales
Nube pro	$ 45 por usuario/mes	Integraciones avanzadas de seguridad e CI/CD
Empresa	Precios personalizados	Capacidades de plataforma completa

Modelos de licencia empresarial

Ingresos recurrentes anuales de 2023 de JFrog (ARR): $ 385.1 millones

• Licencias perpetuas para implementaciones locales
• Acuerdos empresariales de varios años flexibles
• Modelos de precios basados ​​en el uso

Servicios profesionales y consultoría

Ingresos de servicios profesionales para 2023: $ 34.2 millones

Tipo de servicio	Costo promedio
Consultoría de implementación	$5,000 - $50,000
Diseño de arquitectura	$10,000 - $75,000

Programas de capacitación y certificación

Contribución de ingresos de capacitación: aproximadamente el 3-5% de los ingresos por servicios totales

• Cursos de certificación en línea
• Programas de capacitación de la Academia JFrog
• Tarifas del examen de certificación que van desde $ 200- $ 500

Servicios de soporte e implementación premium

Ingresos de apoyo para 2023: $ 22.7 millones

Nivel de apoyo	Costo anual	Tiempo de respuesta
Soporte estándar	Incluido con suscripción	Siguiente día hábil
Soporte premium	$5,000 - $25,000	Respuesta de 4 horas
Soporte empresarial	Precios personalizados	Respuesta de 1 hora

JFrog Ltd. (FROG) - Canvas Business Model: Value Propositions

You're looking at the core value JFrog Ltd. (FROG) delivers to its customers, which is why so many large enterprises rely on them. It's about making the entire software delivery process-from code to production-frictionless and secure, no matter where that software lives.

Unified platform for DevOps, DevSecOps, and MLOps

JFrog Ltd. (FROG) offers one central hub for all software assets, which is key when you consider the complexity developers face today. This unified approach is clearly reflected in their financial performance; for instance, in the third quarter of 2025, their cloud revenue hit $63.4 million, showing a massive 50% year-over-year increase. This growth is fueled by customers adopting their security and AI-related offerings alongside core DevOps functions.

The platform helps organizations manage the entire software supply chain, which is critical since the typical organization brings in about 458 new packages a year. The company serves over 7,300 customers, including 82% of Fortune 100 companies, showing deep enterprise penetration.

Secure and govern AI model delivery via JFrog AI Catalog

The rapid expansion of AI means governing models is now as important as governing code. JFrog addresses this with the AI Catalog, which acts as a centralized hub for discovery, access, and governance for AI/ML models. This is timely, as in 2024, over 1 million new ML models were added to public registries like Hugging Face, which also saw a 5x increase in malicious models. The AI Catalog helps you manage this risk by bringing models into the same trusted supply chain, providing end-to-end control.

Universal artifact management supporting 30+ package types

You need a repository that doesn't force you to use separate tools for every language or framework. JFrog Artifactory delivers this by natively supporting 40 unique package types, clients, and technologies. This breadth is a major differentiator, allowing you to consolidate management and security checks in one place. Here's a look at the scale they handle:

Metric	Value
Natively Supported Package Types	40
New Packages Introduced to SaaS Environments (2024)	Over 7 million
Monthly Data Transfer Handled	Petabytes
Concurrent Requests Handled Per Customer	Thousands

Hybrid and multi-cloud deployment flexibility (SaaS or self-hosted)

The platform is designed to meet you where you are, offering deployment as a major Software-as-a-Service offering or as a self-hosted solution. This flexibility is essential because market trends show that 92% of organizations now use a multicloud approach to optimize performance and avoid vendor lock-in. Furthermore, 56% of companies with over $500 million in revenue report using a hybrid cloud approach, making JFrog's deployment options a direct response to modern infrastructure reality.

Automated compliance and governance (DevGovOps) with verifiable evidence

Moving beyond just security, JFrog introduced JFrog AppTrust to automate governance, risk, and compliance (GRC) directly into the DevOps lifecycle-what they call DevGovOps. This is about providing verifiable evidence for every release, which is necessary because, according to a 2025 report, 40% of organizations still lack full visibility into the provenance of software running in production. AppTrust creates an Evidence System of Record, automating policy enforcement and ensuring every release is trusted and auditable. The company's focus on this area is clear, as they also reported a strong non-GAAP operating income of $25.6 million in Q3 2025.

• Automates policy gates for GRC integration.
• Provides signed evidence for irrefutable metadata.
• Helps close the 40% gap in software provenance visibility.
• Maintains strong customer loyalty, evidenced by a 118% Net Dollar Retention rate in Q3 2025.

Finance: draft 13-week cash view by Friday.

JFrog Ltd. (FROG) - Canvas Business Model: Customer Relationships

You're looking at how JFrog Ltd. (FROG) keeps its customers engaged and growing their spend, which is key to their financial story. The data from late 2025 shows a very sticky customer base.

The Net Dollar Retention rate for the trailing four quarters, as of the third quarter of 2025, held steady at an impressive 118%. This means that existing customers, on average, increased their spending by 18% over the year, which is the classic sign of successful land-and-expand motion. To back that up, the gross retention rate, which measures how many customers stayed without reducing spend, was 97% as of the third quarter of 2025. Management raised the full-year 2025 expectation for net dollar retention to above 116%.

This stickiness is heavily driven by the success of the dedicated enterprise sales motions. The number of customers with Annual Recurring Revenue (ARR) greater than $1 million grew to 71 in Q3 2025, a 54% increase year-over-year from the 46 customers reported in the year-ago period. Also, the cohort of customers spending over $100K ARR reached 1,121, marking a 16% year-over-year growth. The Customer Success teams are clearly effective at driving adoption of the full platform, as evidenced by the Enterprise+ subscription tier. Customers adopting the end-to-end JFrog Platform Enterprise+ subscription accounted for 56% of total revenue in Q3 2025, up from 50% in the prior year, with that contribution growing 39% year-over-year. Honestly, this signals that the enterprise go-to-market strategy is working to consolidate the software supply chain.

Engagement is also fostered through large-scale events. The annual user conference, SwampUP, held its 10th iteration in September 2025. The event is kept small and intimate by design, allowing for direct interaction between customers, analysts, and JFrog management. While the 2024 attendance was over 3,000 attendees, the 2025 event focused heavily on strategic vision, including the move into AI catalogs and agentic development.

Community-driven adoption is a foundational element, though specific freemium tier numbers aren't as public. The company has millions of users globally relying on its solutions. Furthermore, for newer strategic areas like AI, JFrog anticipates adoption of new features, such as FLY, starting with the community before moving into enterprise accounts. This bottom-up approach definitely helps seed future enterprise expansion.

Here is a quick look at the key customer metrics as of Q3 2025:

Metric	Value (Q3 2025)	Comparison/Context
Net Dollar Retention (Trailing 4 Qtrs)	118%	Up from 116% in Q4 2024
Gross Retention	97%	As of Q3 2025
Customers with > $1M ARR	71	Up 54% Year-over-Year
Customers with > $100K ARR	1,121	Up 16% Year-over-Year
Enterprise+ Subscription Revenue Share	56%	Up from 50% in Q3 2024

The relationship strategy is clearly focused on deep platform embedding, which translates directly into high retention and expansion revenue. You can see the focus on driving customers up the value chain:

• Guiding cloud customers with usage overages toward higher annual commitments.
• Focus on Enterprise+ subscription adoption for the end-to-end platform.
• Prioritizing customer success with extensive support and training resources.
• Leveraging community adoption for new product rollouts like FLY.
• Deep engagement via the annual SwampUP conference.

Finance: draft 13-week cash view by Friday.

JFrog Ltd. (FROG) - Canvas Business Model: Channels

You're looking at how JFrog Ltd. gets its software-the platform for the software supply chain-into the hands of developers and enterprises as of late 2025. The channel strategy is clearly shifting, with cloud adoption accelerating the mix away from traditional self-managed deployments.

Direct Enterprise Sales Force

The direct sales force is heavily focused on landing and expanding within major companies, which you can see in the growth of their highest-value accounts. This team is executing on enterprise go-to-market strategies, which management noted was a key driver for recent traction.

Here are the numbers showing that enterprise focus is paying off:

• Customers with Annual Recurring Revenue (ARR) greater than $1 million reached 71 as of the third quarter of 2025.
• That cohort of million-dollar-plus customers grew by 54% year-over-year.
• Customers spending $100,000 or more annually grew to 1,121 in Q3 2025, a 16% increase year-over-year.
• The adoption of the end-to-end JFrog Platform Enterprise+ subscription, which these direct sales efforts push, now accounts for 56% of total revenue, up from 50% in the year-ago period.

The company finished Q3 2025 with $651.1 million in cash, cash equivalents, and investments, giving the direct sales team plenty of resources to capture that enterprise momentum.

Cloud Provider Marketplaces (AWS, Azure, GCP)

The cloud channel is definitely the fastest-growing engine for JFrog Ltd. right now. It's not just about selling the software; it's about driving consumption on the major hyperscalers, which is reflected in the revenue mix.

The shift is stark:

Metric	Q3 2025 Value	Year-over-Year Change
Cloud Revenue (Q3 2025)	$63.4 million	50% increase
Cloud Revenue as % of Total Revenue (Q3 2025)	46%	Up from 39% in Q3 2024
Full-Year 2025 Revenue Guidance (Midpoint)	$524 million	Approximately 22.3% growth over 2024

This 50% jump in cloud revenue is a massive acceleration for a company that historically had a large self-managed base. It shows customers are definitely embracing the Software-as-a-Service (SaaS) offering for critical workloads.

Partner Ecosystem (System Integrators and Technology Partners)

JFrog Ltd. relies on a strong partner ecosystem to extend reach, especially for complex enterprise integrations and technology alignment. While specific revenue attribution from System Integrators isn't broken out, the technology partnerships are clearly validated by industry recognition.

For instance, JFrog was honored as GitHub's Technology Partner of the Year 2025. This recognition highlights deep, co-engineered integrations that deliver tangible benefits to joint customers, such as:

• Unified visibility and traceability from an Artifactory binary back to the precise GitHub commit.
• Consolidated security view combining GitHub Advanced Security (source scanning) and JFrog Advanced Security (binary scanning).
• A seamless developer experience that avoids context-switching between systems.

Also, the company announced a partnership with Hugging Face to secure machine learning models, showing the ecosystem extends into emerging areas like MLOps (Machine Learning Operations).

JFrog website and community for product downloads and trials

The community and direct digital channels serve as the top-of-funnel for developers who are the ultimate end-users. This is where the product mindshare is built, often leading to bottom-up adoption that the direct sales team later expands into Enterprise+ deals.

The platform is designed to meet developers where they are, which includes:

• Serving build outputs to any tool across pipelines.
• Meeting developers in their IDEs, Git repositories, and directly through their CLI (Command Line Interface).

While I don't have a specific number for trial sign-ups or community downloads for 2025, the overall Net Dollar Retention rate holding steady at 118% suggests that once users start, they stick around and expand usage, which is the goal of those initial touchpoints.

Finance: review the Q4 2025 sales pipeline coverage against the full-year revenue guidance of $523M-$525M by next Tuesday.

JFrog Ltd. (FROG) - Canvas Business Model: Customer Segments

You're looking at the core buyers for JFrog Ltd. (FROG) as of late 2025. The focus is clearly on organizations that build, secure, and deploy software at scale, which means targeting the enterprise level where compliance and supply chain integrity are non-negotiable.

The top tier of JFrog Ltd.'s customer base consists of Large Enterprises and Global 2000 companies. This segment is mission-critical, as evidenced by the fact that a majority of the Fortune 100 depend on JFrog solutions to securely embrace digital transformation. One data point suggests that JFrog Ltd. serves 82% of Fortune 100 companies. The overall customer base is substantial, standing at over 7,000 customers worldwide as of fiscal year 2024.

The most valuable customers, those with significant Annual Recurring Revenue (ARR), show rapid expansion. This high-value cohort is a key indicator of platform stickiness and successful land-and-expand motions within major accounts. Here's the quick math on the top spenders as of the third quarter of 2025:

Customer Metric	Value (Q3 2025)	Year-over-Year Growth
Customers with >$1 Million ARR	71	54%
Customers with >$100K ARR	1,121	16%
Customers with >$1 Million ARR (Year Ago)	46	N/A
Customers with >$100K ARR (Year Ago)	966	N/A

The individuals driving the adoption and use of the JFrog Platform are the technical practitioners. This includes Software Developers, DevOps, and Security Professionals. The platform's evolution reflects this user base, with strong execution noted across DevOps, DevSecOps, and MLOps capabilities. The growth in platform adoption is directly tied to these users embracing the unified software supply chain approach, with customers adopting the end-to-end JFrog Platform Enterprise+ subscription representing 56% of total revenue in Q3 2025.

A definite growth area involves Organizations in regulated industries requiring strict compliance. JFrog Ltd. is actively expanding its focus into Governance and Compliance, innovating in the evolving domain of what they term 'DevGovOps'. This is supported by product releases like JFrog AppTrust, which is designed for evidence-based software release governance. This push directly addresses the stringent requirements of regulated sectors that need verifiable trust and compliance across their software artifacts, including those generated by AI/ML workflows, as seen with the launch of JFrog AI Catalog.

The core user groups and their associated platform focus areas include:

• Developers: Using Artifactory for universal artifact management.
• DevOps Teams: Utilizing Pipelines for automation and distribution.
• Security Professionals: Leveraging Xray and Curation for vulnerability scanning and security policy enforcement.
• MLOps Teams: Governing AI models via the new AI Catalog.

The Net Dollar Retention rate for the trailing four quarters was 118% as of Q3 2025. This metric shows that existing customers are increasing their spending by 18% on average over the year, which is a direct result of these user segments expanding their use of the platform across more workloads and security features.

Finance: draft 13-week cash view by Friday.

JFrog Ltd. (FROG) - Canvas Business Model: Cost Structure

You're looking at the core expenses JFrog Ltd. incurs to run its platform and drive its enterprise go-to-market strategy. For a company scaling its cloud presence, these costs are heavily weighted toward engineering talent and the infrastructure to support that growth. We'll look at the latest actual numbers from the third quarter of 2025, which gives us the clearest picture of the current cost base.

Significant investment in Research and Development (R&D).

JFrog Ltd. consistently allocates substantial capital to R&D to maintain its position as the system of record for the software supply chain, especially with the rapid evolution into AI model governance. For the third quarter ended September 30, 2025, the GAAP Research and Development expense was $51,167 thousand.

Sales and Marketing expenses for enterprise go-to-market.

The enterprise go-to-market motion, which drives the adoption of higher-value Enterprise+ subscriptions, is a major cost center. The GAAP Sales and Marketing expense for the third quarter of 2025 was $55,969 thousand.

Cloud infrastructure costs to support the SaaS offering.

As Cloud Revenue hit $63.4 million in Q3 2025, representing 46% of total revenue, the associated infrastructure costs are material. The GAAP Cost of Revenue specifically for Subscription-self-managed and SaaS for the third quarter of 2025 was $30,900 thousand. Management noted a focus on cost optimization with cloud service providers, expecting annual gross margins to remain between 82.5% and 83.5% for 2025.

Personnel costs for engineering, support, and sales teams.

Personnel costs are the largest driver across all operating expense categories. Total GAAP Operating Expenses for the third quarter of 2025 were $89,300 thousand, which represented 65% of the quarter's total revenue of $136.9 million. While the exact personnel spend is embedded within the GAAP figures for R&D, Sales and Marketing, and General and Administrative, it is the primary component of these investments.

Here's a look at the nine-month figures ending September 30, 2025, which better capture the scale of these investments over a longer period:

Expense Category (GAAP, in thousands)	Nine Months Ended September 30, 2025
Research and Development	$141,926
Sales and Marketing	$164,212
General and Administrative	$59,644
Total Operating Expenses (Calculated Sum)	$365,782
Cost of Revenue (Subscription-self-managed and SaaS)	$91,167

You can see the commitment to engineering talent is significant, with GAAP R&D for the nine-month period reaching $141,926 thousand. The Sales and Marketing spend over the same period was even higher at $164,212 thousand, reflecting the aggressive enterprise go-to-market strategy.

• GAAP Sales and Marketing expense for Q3 2025 was $55,969 thousand.
• GAAP General and Administrative expense for the nine months ended September 30, 2025, was $59,644 thousand.
• Customers with ARR greater than $1 million increased to 71 as of September 30, 2025.
• The company's full-year 2025 revenue outlook was projected between $523 million to $525 million.

JFrog Ltd. (FROG) - Canvas Business Model: Revenue Streams

You're looking at how JFrog Ltd. actually brings in the money, and honestly, the story is clearly shifting toward the cloud. As a seasoned analyst, I can tell you the mix of revenue sources is what really matters for valuation, so let's break down the numbers we have as of late 2025.

The core of JFrog Ltd.'s revenue generation is subscription-based, split between their managed cloud offering and the traditional self-managed licenses. The momentum is undeniably with the Software as a Service (SaaS) side of the business, which is growing fast and changing the overall revenue profile.

Here are the key components driving the top line:

• Subscription Revenue from Cloud (SaaS) services: This is the fastest growth engine, representing 46% of Q3 2025 revenue.
• High-value Enterprise+ subscription bundles: These comprehensive platform deals are capturing more of the total spend, making up 56% of Q3 2025 revenue.

To give you a clearer picture of the Q3 2025 snapshot, here's how the major components stack up against the total reported revenue of $136.9 million for that quarter:

Revenue Stream Component	Q3 2025 Metric	Value/Percentage
Total Q3 2025 Revenue	Absolute Amount	$136.9 million
Cloud (SaaS) Revenue Share	Percentage of Total Revenue	46%
Cloud Revenue Amount	Absolute Amount	$63.4 million
Cloud Revenue Year-over-Year Growth	Percentage Growth	50%
Enterprise+ Bundle Share	Percentage of Total Revenue	56%

Subscription Revenue from Self-managed (on-premises) licenses still contributes, but its proportion is shrinking relative to the cloud. While we don't have the exact Q3 2025 dollar amount for self-managed subscriptions specifically, we know that Cloud made up 46% of the total revenue in Q3 2025. This means the remainder, which includes self-managed licenses and other fees, accounted for the other 54% of that quarter's revenue base. For context, in Q4 2024, the self-managed segment saw growth of only 13% year-over-year, totaling $66.7 million then, so the shift is clear.

Regarding Usage-based overage fees for consumption exceeding contract minimums, this is an important nuance. Management has been clear that the reported baseline cloud growth forecast for the year excludes revenue generated from usage above customers' annual minimum commitments. This suggests that while overage fees are a component of revenue, they are treated separately from the core subscription growth metrics, which helps derisk the outlook, but we don't have a specific dollar amount for these overages in Q3 2025.

Finally, looking at the full picture for the year, the Total Fiscal Year 2025 Revenue Outlook is set between $523 million to $525 million. This implies a year-over-year growth rate of about 22.3% at the midpoint, which is healthy growth for a company of this scale.

Finance: draft 13-week cash view by Friday.