JFrog Ltd
For the period ended Dec 31, 2025. Filed Feb 13, 2026.
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FY2025 · Filed Feb 13, 2026
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, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Cash flows from operating activities: | |||
| Net loss | $(71,819) | $(69,236) | $(61,256) |
| Adjustments to reconcile net loss to net cash provided by operating activities: | |||
| Depreciation and amortization | 24,503 | 21,460 | 15,303 |
| Share-based compensation expense | 156,657 | 131,106 | 95,171 |
| Non-cash operating lease expense | 8,974 | 8,389 | 8,457 |
| Net amortization of premium or discount on investments | (5,240) | (6,566) | (6,405) |
| Losses (gains) on foreign exchange | (819) | 642 | (421) |
| Changes in operating assets and liabilities, net of effects of business combinations: | |||
| Accounts receivable | (29,328) | (13,512) | (14,109) |
| Prepaid expenses and other assets | (5,491) | (7,821) | 2,162 |
| Deferred contract acquisition costs | (15,069) | (12,084) | (7,807) |
| Accounts payable | 3,618 | (7,317) | 1,705 |
| Accrued expenses and other liabilities | 20,775 | 13,839 | 10,681 |
| Operating lease liabilities | (8,789) | (8,107) | (7,716) |
| Deferred revenue | 67,757 | 60,131 | 38,390 |
| Net cash provided by operating activities | 145,729 | 110,924 | 74,155 |
| Cash flows from investing activities: | |||
| Purchases of short-term investments | (625,867) | (513,591) | (392,406) |
| Maturities of short-term investments | 477,059 | 409,914 | 336,883 |
| Sales of short-term investments | — | 98,178 | 4,029 |
| Purchases of property and equipment | (3,460) | (3,143) | (1,982) |
| Payments for business combinations, net of cash acquired | — | (156,714) | — |
| Net cash used in investing activities | (152,268) | (165,356) | (53,476) |
| Cash flows from financing activities: | |||
| Proceeds from exercise of share options | 12,055 | 10,352 | 9,985 |
| Proceeds from employee share purchase plan | 11,917 | 8,744 | 6,665 |
| Proceeds from employee equity transactions, net of payments to tax authorities and employees | 7,238 | 2,135 | 1,721 |
| Net cash provided by financing activities | 31,210 | 21,231 | 18,371 |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | 1,253 | (949) | 120 |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | 25,924 | (34,150) | 39,170 |
| Cash, cash equivalents, and restricted cash—beginning of period | 50,627 | 84,777 | 45,607 |
| Cash, cash equivalents, and restricted cash—end of period | $76,551 | $50,627 | $84,777 |
| Supplemental disclosure of noncash investing and financing activities: | |||
| Purchase of property and equipment during the period included in accounts payable | $53 | $60 | $187 |
| Fair value of ordinary shares issued as consideration for business combination | $— | $13,420 | $— |
| Fair value of replacement awards in business combination | $— | $375 | $— |
| 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 | $75,840 | $49,869 | $84,765 |
| Restricted cash included in prepaid expenses and other current assets | 711 | 758 | 12 |
| Total cash, cash equivalents, and restricted cash | $76,551 | $50,627 | $84,777 |
JFrog Ltd.
Notes to Consolidated Financial Statements
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