JFrog Ltd Earnings Per Share Disclosure
16. Net Loss Per Share
The following table sets forth the computation of basic and diluted net loss per share for the periods presented:
|
|
Year Ended December 31, |
|
|||||||||
|
|
2025 |
|
|
2024 |
|
|
2023 |
|
|||
|
|
(in thousands, except share and per share data) |
|
|||||||||
Numerator: |
|
|
|
|
|
|
|
|
|
|||
Net loss |
|
$ |
(71,819 |
) |
|
$ |
(69,236 |
) |
|
$ |
(61,256 |
) |
Denominator: |
|
|
|
|
|
|
|
|
|
|||
Weighted-average shares used in computing net loss per share, basic and diluted |
|
|
116,200,900 |
|
|
|
109,691,100 |
|
|
|
103,317,759 |
|
Net loss per share, basic and diluted |
|
$ |
(0.62 |
) |
|
$ |
(0.63 |
) |
|
$ |
(0.59 |
) |
The potential shares of ordinary shares that were excluded from the computation of diluted net loss per share for the periods presented because including them would have been anti-dilutive are as follows:
|
|
Year Ended December 31, |
|
|||||||||
|
|
2025 |
|
|
2024 |
|
|
2022 |
|
|||
Outstanding share options |
|
|
2,182,514 |
|
|
|
3,739,468 |
|
|
|
6,264,883 |
|
Unvested RSUs |
|
|
10,748,049 |
|
|
|
10,779,505 |
|
|
|
9,298,748 |
|
Share purchase rights under the ESPP |
|
|
208,294 |
|
|
|
201,493 |
|
|
|
155,276 |
|
Issuable ordinary shares related to business combination |
|
|
633,111 |
|
|
|
362,752 |
|
|
|
27,505 |
|
Total |
|
|
13,771,968 |
|
|
|
15,083,218 |
|
|
|
15,746,412 |
|
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 13, 2026 | Showing above |
| 2024 | Feb 14, 2025 | |
| 2023 | Feb 15, 2024 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.