JFrog Ltd
For the period ended Dec 31, 2023. Filed Feb 15, 2024.
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FY2023 · Filed Feb 15, 2024
FROG$103.55-4.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
(in thousands)
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Cash flows from operating activities: | |||
| Net loss | $(61,256) | $(90,184) | $(64,203) |
| Adjustments to reconcile net loss to net cash provided by operating activities: | |||
| Depreciation and amortization | 15,303 | 14,655 | 8,746 |
| Share-based compensation expense | 95,171 | 68,661 | 56,949 |
| Non-cash operating lease expense | 8,457 | 7,357 | 6,108 |
| Net amortization of premium or discount on investments | (6,405) | 2,354 | 5,522 |
| Losses (gains) on foreign exchange | (421) | 1,799 | — |
| Changes in operating assets and liabilities, net of business combinations: | |||
| Accounts receivable | (14,109) | (11,186) | (12,810) |
| Prepaid expenses and other assets | 2,162 | 9,286 | (17,715) |
| Deferred contract acquisition costs | (7,807) | (7,212) | (6,195) |
| Accounts payable | 1,705 | 4,102 | 504 |
| Accrued expenses and other liabilities | 10,681 | 2,242 | 13,089 |
| Operating lease liabilities | (7,716) | (9,058) | (5,051) |
| Deferred revenue | 38,390 | 28,609 | 42,958 |
| Net cash provided by operating activities | 74,155 | 21,425 | 27,902 |
| Cash flows from investing activities: | |||
| Purchases of short-term investments | (392,406) | (411,242) | (266,319) |
| Maturities and sales of short-term investments | 340,912 | 362,711 | 341,354 |
| Purchases of property and equipment | (1,982) | (4,328) | (4,228) |
| Payments for business combinations, net of cash acquired | — | (179) | (195,752) |
| Purchases of intangible asset | — | (300) | (600) |
| Net cash used in investing activities | (53,476) | (53,338) | (125,545) |
| Cash flows from financing activities: | |||
| Proceeds from exercise of share options | 9,985 | 5,922 | 6,837 |
| Proceeds from employee share purchase plan | 6,665 | 5,176 | 3,092 |
| Proceeds from employee equity transactions, net of payments to tax authorities | 1,721 | (71) | (8,485) |
| Net cash provided by financing activities | 18,371 | 11,027 | 1,444 |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | 120 | (2,047) | — |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | 39,170 | (22,933) | (96,199) |
| Cash, cash equivalents, and restricted cash—beginning of period | 45,607 | 68,540 | 164,739 |
| Cash, cash equivalents, and restricted cash—end of period | $84,777 | $45,607 | $68,540 |
| Supplemental disclosure of cash flow information: | |||
| Income tax payments (refunds) | $4,998 | $(1,709) | $153 |
| Supplemental disclosure of noncash investing and financing activities: | |||
| Purchase of property and equipment during the period included in accounts payable | $187 | $91 | $509 |
| Reconciliation of cash, cash equivalents, and restricted cash within the Consolidated Balance Sheets to the amounts shown in the Consolidated Statements of Cash Flows above: | |||
| Cash and cash equivalents | $84,765 | $45,595 | $68,284 |
| Restricted cash included in prepaid expenses and other current assets | 12 | 12 | 13 |
| Restricted cash included in other assets, noncurrent | — | — | 243 |
| Total cash, cash equivalents, and restricted cash | $84,777 | $45,607 | $68,540 |
JFrog Ltd.
Notes to Consolidated Financial Statements
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