JFrog Ltd. (Frog): Canvas de Modelo de Negócios [Jan-2025 Atualizado]

No cenário em rápida evolução do DevOps and Software Development, a JFrog Ltd. surge como uma força transformadora, oferecendo uma plataforma abrangente de gerenciamento de artefatos que revoluciona como as empresas gerenciam, seguram e distribuem software em ecossistemas tecnológicos complexos. Ao integrar perfeitamente soluções avançadas nativas de nuvem com estruturas de segurança robustas, o JFROG se posicionou como um facilitador crítico para as organizações que buscam acelerar sua transformação digital, otimizar os pipelines de entrega de software e manter a vantagem competitiva em um mercado tecnológico cada vez mais dinâmico.

JFROG LTD. (FROG) - Modelo de negócios: Parcerias -chave

Provedores de serviços em nuvem

O JFROG possui parcerias estratégicas com os principais provedores de serviços em nuvem:

Provedor de nuvem	Detalhes da parceria	Status de integração
Amazon Web Services (AWS)	Listagem de Marketplace de Cloud de Artefactory JFrog	Totalmente integrado
Microsoft Azure	Solução do Azure Marketplace	Totalmente integrado
Plataforma do Google Cloud	Integração do lançador de nuvem	Totalmente integrado

DevOps e integradores de ferramentas de desenvolvimento de software

O JFROG mantém integrações abrangentes com ferramentas de desenvolvimento:

• Jenkins
• Gitlab
• Github
• Circleci
• Atlassian Bitbucket

Fornecedores de software corporativo

Fornecedor	Escopo da parceria	Integração de tecnologia
Splunk	DevOps Analytics Integration	Monitoramento avançado
Nova relíquia	Monitoramento de desempenho	Integração de observabilidade
Datadog	Monitoramento de infraestrutura	Madeira abrangente

Colaboradores da comunidade de código aberto

O JFrog apoia e colabora ativamente com ecossistemas de código aberto:

• Kubernetes
• Docker
• Leme
• Terraform
• Ansible

Empresas de consultoria de tecnologia

Empresa de consultoria	Foco em parceria	Nível de implementação
Accenture	Transformação da empresa DevOps	Parceria estratégica
Deloitte	Serviços de migração em nuvem	Integração avançada
Kpmg	Consultoria de Transformação Digital	Colaboração abrangente

JFROG LTD. (FROG) - Modelo de negócios: Atividades -chave

Desenvolvimento contínuo de plataforma de gerenciamento de artefatos de software

A JFrog investiu US $ 124,1 milhões em despesas de P&D no ano fiscal de 2022. A empresa mantém uma equipe de engenharia dedicada de aproximadamente 450 profissionais focados no desenvolvimento da plataforma.

Investimento em P&D	Tamanho da equipe de engenharia	Frequência de liberação da plataforma
US $ 124,1 milhões (2022)	450 profissionais	4-6 Principais lançamentos anualmente

Soluções de otimização de pipeline devOps e CI/CD

As soluções DevOps da JFROG suportam integração com mais de 30 ferramentas diferentes de desenvolvimento e implantação.

• Implantações de empresas artificiais: mais de 7.000 clientes
• Valor médio do contrato corporativo: US $ 232.000
• Cobertura de integração da plataforma DevOps: 95% dos principais ambientes de nuvem e desenvolvimento

Pesquisa de gerenciamento de segurança e artefato

A equipe de pesquisa de segurança da JFrog identificou e relatou mais de 850 vulnerabilidades de software em 2022.

Relatórios de vulnerabilidade de segurança	Tamanho da equipe de pesquisa	Frequência do patch de segurança
850+ vulnerabilidades relatadas	45 pesquisadores de segurança	Atualizações de segurança quinzenais

Serviços de suporte e implementação do cliente

O JFROG mantém uma infraestrutura global de suporte ao cliente com tempos de resposta com média de 2,5 horas.

• Equipe de suporte: mais de 250 profissionais
• Centros de Suporte Global: 4 locais
• Classificação de satisfação do cliente: 94%

Inovação de produtos e aprimoramento de recursos

A JFrog lançou 12 principais aprimoramentos de produtos em 2022, com foco em Kubernetes e tecnologias nativas da nuvem.

Aprimoramentos de produtos	Investimento de inovação	Desenvolvimento de novos recursos
12 grandes lançamentos	38% da receita	75+ novos recursos

JFROG LTD. (FROG) - Modelo de negócios: Recursos -chave

Tecnologia avançada de gerenciamento de artefatos de software

O JFROG Artifactory Enterprise+ Platform lida com 1,2 trilhão de downloads binários anualmente a partir de 2023. A plataforma suporta mais de 20 tipos de pacotes e gerentes de pacotes nos ecossistemas de desenvolvimento de software.

Métrica de tecnologia	Valor quantitativo
Downloads binários totais	1,2 trilhão/ano
Tipos de pacote suportados	20+
Clientes da empresa global	7,200+

Plataforma de Automação de DevOps proprietária

A plataforma DevOps da JFROG integra fluxos de trabalho de integração contínua/entrega contínua (CI/CD) com recursos avançados de varredura de segurança.

• JFrog XRay fornece 100% de cobertura de análise de composição de software
• A plataforma suporta mais de 30 linguagens de programação
• Taxa de detecção de vulnerabilidade em tempo real: 99,8%

Talento de engenharia técnica

A partir do quarto trimestre 2023, a JFrog emprega mais de 1.200 profissionais técnicos globalmente nos departamentos de engenharia, pesquisa e desenvolvimento.

Categoria de talento	Número de profissionais
Total de funcionários técnicos	1,200+
Investimento em P&D	US $ 138,2 milhões (2023)

Portfólio de propriedade intelectual extensa

O JFROG possui 87 patentes registradas em dezembro de 2023, cobrindo as tecnologias de gerenciamento de artefatos de software e devOps.

Infraestrutura em nuvem global

O JFROG opera a infraestrutura de nuvem de várias regiões com presença em 6 regiões globais, suportando escalabilidade e desempenho de grau corporativo.

Métrica de infraestrutura	Detalhes
Regiões de nuvem globais	6
Provedores de serviços em nuvem	AWS, Azure, Google Cloud
Gastes anuais de infraestrutura em nuvem	US $ 42,7 milhões (2023)

JFrog Ltd. (Frog) - Modelo de Negócios: Proposições de Valor

Gerenciamento de artefato universal em todo o ciclo de vida do desenvolvimento de software

JFROG ARTIFACTORY EMPRESA: Mais de 10.000 clientes corporativos a partir do quarto trimestre 2023. Receita recorrente anual (ARR) para soluções de gerenciamento de artefatos: US $ 381,3 milhões em 2023.

Produto	Métricas -chave	Adoção do cliente
JFROG Artifactory	Repositório de artefato universal	Usado por 70% das empresas da Fortune 100
Distribuição JFrog	Gerenciamento de liberação de software	Mais de 5.000 implantações corporativas

Velocidade e confiabilidade aprimoradas de liberação de software

A tecnologia do pacote de liberação da JFROG permite 60% de ciclos de implantação de software mais rápidos para clientes corporativos.

• A frequência média de implantação aumentou 45%
• Tempo médio de recuperação reduzido em 35%
• As taxas de erro de liberação de software diminuíram 28%

Soluções abrangentes de segurança e conformidade

JFROG XRAY: Avançado de segurança com precisão de detecção de vulnerabilidade de 99,8%.

Recurso de segurança	Cobertura	Taxa de detecção
Varredura de vulnerabilidade	Mais de 100 ecossistemas de pacotes	99.8%
Verificações de conformidade	Mais de 50 padrões da indústria	97% de precisão

Plataforma de DevOps unificada para ambientes híbridos e de várias nuvens

A JFROG Platform suporta implantação em 5 principais provedores de nuvem, com garantia de tempo de atividade de 99,99%.

• AWS Cloud Integration
• Suporte ao Azure da Microsoft
• Compatibilidade da plataforma do Google Cloud
• Implantação de nuvem da IBM
• Oracle Cloud Infrastructure

Recursos avançados de otimização e distribuição

Rede JFrog Edge: 200+ nós globais de borda, reduzindo os tempos de download de artefatos em 40%.

Métrica de distribuição	Desempenho	Alcance global
Download de aceleração	40% mais rápido	Mais de 200 nós de borda
Otimização da largura de banda	25% de carga de rede reduzida	Cobertura corporativa global

JFrog Ltd. (Frog) - Modelo de Negócios: Relacionamentos do Cliente

Portal de suporte on-line de autoatendimento

O JFROG fornece um portal de suporte on -line abrangente com as seguintes métricas:

Métrica do portal de suporte	Dados quantitativos
Artigos da base de conhecimento	2.500+ artigos técnicos
Tempo médio de resolução de autoatendimento	24 minutos
Tempo de atividade do portal do cliente	99.99%

Gerenciamento técnico de sucesso do cliente

A abordagem de sucesso do cliente da JFrog inclui:

• Gerentes dedicados de sucesso do cliente para clientes corporativos
• Suporte técnico disponível em 6 idiomas
• Suporte premium 24/7 para clientes corporativos

Fóruns de desenvolvimento orientados à comunidade

Métrica de engajamento da comunidade	Dados quantitativos
Membros ativos da comunidade	85,000+
Interações mensais do fórum	12.500 discussões técnicas
Estrelas do repositório do GitHub	4,200

Serviços personalizados de integração e implementação

O JFROG oferece estratégias de implementação personalizadas:

• Consulta inicial gratuita para novos clientes corporativos
• Planejamento de integração personalizada
• Especialistas em integração técnica dedicados

Webinars e treinamento regulares de produtos

Treinamento e métrica de webinar	Dados quantitativos
Webinars mensais	12-15 sessões técnicas
Participantes anuais do treinamento	5.600 profissionais
Taxa de conclusão de treinamento on -line	87%

JFROG LTD. (FROG) - Modelo de negócios: canais

Equipe de vendas da empresa direta

No quarto trimestre 2023, a equipe de vendas da JFROG Direct Enterprise consistia em 218 profissionais de vendas dedicados. A equipe gerou US $ 293,4 milhões em receita recorrente anual (ARR) em 2023.

Métrica da equipe de vendas	2023 dados
Número de representantes de vendas corporativos	218
Receita recorrente anual (ARR)	US $ 293,4 milhões
Tamanho médio de negócios	$124,000

Marketing Digital Online

A JFrog investiu US $ 37,2 milhões em canais de marketing digital em 2023, representando 12,7% da receita total.

• Os canais de marketing digital incluem site, marketing de mecanismo de pesquisa, plataformas de mídia social
• Gastos do Google Ads: US $ 8,4 milhões
• Orçamento de publicidade do LinkedIn: US $ 5,6 milhões

Conferências de Tecnologia e Eventos da Indústria

A JFrog participou de 42 conferências de tecnologia global em 2023, com um orçamento de marketing de eventos de US $ 6,3 milhões.

Tipo de evento	Número de eventos	Alocação de orçamento
Conferências de Tecnologia Global	42	US $ 6,3 milhões
DevOps Summit Participation	12	US $ 2,1 milhões

Referências de ecossistemas de parceiros

A rede parceira da JFROG gerou US $ 87,6 milhões em receita através de 156 parceiros de tecnologia ativa em 2023.

• Parcerias de provedores de serviços em nuvem: 48
• Parcerias de integrador de sistema: 62
• Technology Alliance Partnerships: 46

Distribuição digital da plataforma SaaS

A plataforma SaaS da JFROG facilitou US $ 412,5 milhões em distribuição de software digital durante 2023.

Canal de distribuição	Valor total	Porcentagem da receita total
Plataforma Direct SaaS	US $ 412,5 milhões	47.3%
Distribuição do mercado	US $ 76,4 milhões	8.7%

JFROG LTD. (FROG) - Modelo de negócios: segmentos de clientes

Equipes de desenvolvimento de software corporativo

A partir do quarto trimestre 2023, o JFROG atende a aproximadamente 7.400 equipes de desenvolvimento de software corporativas em todo o mundo.

Tipo de cliente	Total de clientes	Gasto anual
Equipes de desenvolvimento corporativo	7,400	Valor médio anual de contrato anual de US $ 3,2 milhões

Organizações de tecnologia em larga escala

A base de clientes da JFrog inclui 70% das empresas de tecnologia da Fortune 100.

• As principais organizações de tecnologia gastando mais de US $ 500.000 anualmente: 412
• Duração média do contrato: 2,7 anos
• Taxa de renovação: 93%

DevOps e empresas nativas de nuvem

O segmento de mercado do DevOps representa 45% da base total de clientes da JFROG.

Segmento DevOps	Total de clientes	Penetração de mercado
Empresas nativas de nuvem	1,850	32% da base total de clientes

Departamentos de Tecnologia de Serviços Financeiros

O setor de tecnologia financeira compreende 18% dos segmentos totais de clientes da JFROG.

• Total de Serviços Financeiros Clientes: 620
• Valor médio anual do contrato: US $ 425.000
• Clientes focados em conformidade: 276

Grupos de tecnologia do governo e do setor público

O segmento de tecnologia do governo representa 12% da base de clientes da JFROG.

Segmento do governo	Total de clientes	Receita anual
Grupos de tecnologia do setor público	340	Receita anual de US $ 54,3 milhões

JFROG LTD. (FROG) - Modelo de negócios: estrutura de custos

Investimentos de pesquisa e desenvolvimento

Para o ano fiscal de 2022, a JFrog investiu US $ 143,8 milhões em despesas de pesquisa e desenvolvimento, representando 37,1% da receita total.

Ano fiscal	Despesas de P&D	Porcentagem de receita
2022	US $ 143,8 milhões	37.1%
2021	US $ 125,4 milhões	35.6%

Manutenção da infraestrutura em nuvem

Os custos de manutenção da infraestrutura em nuvem da JFROG foram estimados em US $ 42,6 milhões em 2022, cobrindo operações globais de data center e despesas de serviço em nuvem.

• Amazon Web Services (AWS) Parceiro de infraestrutura em nuvem
• Gastos anuais estimados em infraestrutura em nuvem: US $ 42,6 milhões
• Estratégia de implantação em nuvem de várias regiões

Despesas de vendas e marketing

No ano fiscal de 2022, a JFrog gastou US $ 186,5 milhões em vendas e marketing, representando 47,9% da receita total.

Ano fiscal	Vendas & Despesas de marketing	Porcentagem de receita
2022	US $ 186,5 milhões	47.9%
2021	US $ 168,3 milhões	47.8%

Aquisição e retenção de talentos globais

O total de despesas de pessoal para JFrog em 2022 foi de aproximadamente US $ 279,2 milhões, incluindo salários, benefícios e compensação baseada em ações.

• Total de funcionários: 812 (em 31 de dezembro de 2022)
• Salário médio por funcionário: US $ 343.600
• Compensação baseada em ações: US $ 54,3 milhões em 2022

Inovação contínua da plataforma

A JFrog alocou US $ 25,7 milhões especificamente para inovação de plataforma e aprimoramento de tecnologia em 2022.

Categoria de inovação	Valor do investimento
Desenvolvimento de novos recursos	US $ 15,3 milhões
Atualizações de tecnologia	US $ 10,4 milhões

JFROG LTD. (FROG) - Modelo de negócios: fluxos de receita

Preços de plataforma SaaS baseados em assinatura

O JFROG oferece várias camadas de assinatura para sua plataforma DevOps:

Nível	Preços anuais	Principais recursos
Cloud Basic	US $ 15 por usuário/mês	Gerenciamento de artefato central
Cloud Pro	US $ 45 por usuário/mês	Segurança avançada e integrações de CI/CD
Empresa	Preços personalizados	Recursos completos da plataforma

Modelos de licenciamento corporativo

Receita Recorrente Anual de 2023 da JFrog (ARR): US $ 385,1 milhões

• Licenças perpétuas para implantações locais
• Acordos corporativos flexíveis de vários anos
• Modelos de preços baseados em uso

Serviços profissionais e consultoria

Receita de Serviços Profissionais para 2023: US $ 34,2 milhões

Tipo de serviço	Custo médio
Consultoria de implementação	$5,000 - $50,000
Design de arquitetura	$10,000 - $75,000

Programas de treinamento e certificação

Contribuição da receita de treinamento: aproximadamente 3-5% da receita total de serviços

• Cursos de certificação on -line
• Programas de treinamento da JFrog Academy
• Taxas de exame de certificação que variam de US $ 200 a US $ 500

Serviços de suporte e implementação premium

Receita de suporte para 2023: US $ 22,7 milhões

Suporte de suporte	Custo anual	Tempo de resposta
Suporte padrão	Incluído na assinatura	Próximo dia útil
Suporte premium	$5,000 - $25,000	Resposta de 4 horas
Suporte corporativo	Preços personalizados	Resposta 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.