Why JFrog Stock Is Falling Today
Shares of JFrog (NASDAQ: FROG) are falling today, down by 11% as of 12:30 p.m. EST, after the company reported third-quarter earnings. This was the software specialist's first earnings release as a public company following its IPO in September.
Revenue in the third quarter jumped 40% to $38.9 million, topping the $37.9 million in sales that analysts were modeling for. That resulted in adjusted earnings per share of $0.05, while Wall Street was expecting JFrog to break even. The software development platform company now has 313 customers that generate annual recurring revenue (ARR) greater than $100,000, with nine customers with ARR above $1 million.
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Source Fool.com
