SUNNYVALE, Calif. — Sela Yossi, a director at JFrog Ltd (NASDAQ:FROG), a software company with impressive 78% gross profit margins and strong revenue growth of 24% over the last twelve months, recently sold a significant portion of the company's ordinary shares. According to a filing with the Securities and Exchange Commission, Yossi sold 25,000 shares on December 4, 2024. The shares were sold at a weighted average price of $31.86, with transaction prices ranging from $31.55 to $32.14. This sale amounted to a total transaction value of approximately $796,500. According to InvestingPro analysis, JFrog appears to be slightly undervalued at current market prices. Following the sale, Yossi retains ownership of 355,129 shares in the $3.5B market cap company. InvestingPro subscribers can access 8 additional key insights and a comprehensive Pro Research Report about JFrog's financial health and growth prospects.
In other recent news, JFrog Ltd. reported a robust third quarter in 2024, with total revenues increasing by 23% to $109.1 million. A significant highlight was the company's cloud revenue, which saw a 38% year-over-year jump, now comprising 39% of the total revenues. The company also announced the strategic acquisition of Qwak, which is expected to bolster their offerings in the upcoming year.
These recent developments also included JFrog's successful user conference, SwampUp. In addition, the number of customers with annual recurring revenue over $100,000 increased to 966, and those exceeding $1 million in ARR grew by 53% to 46.
Despite a cautious outlook for large-scale migration deals in 2025, JFrog anticipates Q4 revenues to be between $113.5 million and $114.5 million, with full-year guidance set at $425.9 million to $426.9 million. The company also projects its cloud revenue growth around 40% for the year 2024.
While operating expenses as a percentage of revenue increased year-over-year to 69.3%, JFrog's gross margin remained strong at 82.8%, with an operating profit of $14.7 million. The company's diluted earnings per share remained consistent with the previous year at $0.15.
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