JFrog Ltd Revenue Disclosure
3. Revenue Recognition
Disaggregation of Revenue
The following table presents revenue by category:
|
|
Year Ended December 31, |
|
|||||||||||||||||||||
|
|
2025 |
|
|
2024 |
|
|
2023 |
|
|||||||||||||||
|
|
Amount |
|
|
Percentage |
|
|
Amount |
|
|
Percentage |
|
|
Amount |
|
|
Percentage |
|
||||||
|
|
(in thousands, except percentages) |
|
|||||||||||||||||||||
Self-managed subscription |
|
$ |
288,529 |
|
|
|
54 |
% |
|
$ |
260,519 |
|
|
|
61 |
% |
|
$ |
230,560 |
|
|
|
66 |
% |
Subscription |
|
|
259,485 |
|
|
|
49 |
|
|
|
238,934 |
|
|
|
56 |
|
|
|
210,867 |
|
|
|
60 |
|
License |
|
|
29,044 |
|
|
|
5 |
|
|
|
21,585 |
|
|
|
5 |
|
|
|
19,693 |
|
|
|
6 |
|
SaaS |
|
|
243,311 |
|
|
|
46 |
|
|
|
167,969 |
|
|
|
39 |
|
|
|
119,326 |
|
|
|
34 |
|
Total subscription revenue |
|
$ |
531,840 |
|
|
|
100 |
% |
|
$ |
428,488 |
|
|
|
100 |
% |
|
$ |
349,886 |
|
|
|
100 |
% |
The following table summarizes revenue by region based on the shipping address of customers:
|
|
Year Ended December 31, |
|
|||||||||||||||||||||
|
|
2025 |
|
|
2024 |
|
|
2023 |
|
|||||||||||||||
|
|
Amount |
|
|
Percentage |
|
|
Amount |
|
|
Percentage |
|
|
Amount |
|
|
Percentage |
|
||||||
|
|
(in thousands, except percentages) |
|
|||||||||||||||||||||
United States |
|
$ |
316,493 |
|
|
|
60 |
% |
|
$ |
258,911 |
|
|
|
60 |
% |
|
$ |
215,605 |
|
|
|
62 |
% |
Israel |
|
|
16,424 |
|
|
|
3 |
|
|
|
12,275 |
|
|
|
3 |
|
|
|
9,332 |
|
|
|
3 |
|
Rest of world |
|
|
198,923 |
|
|
|
37 |
|
|
|
157,302 |
|
|
|
37 |
|
|
|
124,949 |
|
|
|
35 |
|
Total subscription revenue |
|
$ |
531,840 |
|
|
|
100 |
% |
|
$ |
428,488 |
|
|
|
100 |
% |
|
$ |
349,886 |
|
|
|
100 |
% |
Contract Balances
Of the $274.2 million, $214.1 million and $175.7 million of deferred revenue recorded as of December 31, 2024, 2023 and 2022, respectively, the Company recognized $249.6 million, $201.6 million and $158.3 million as revenue during the years ended December 31, 2025, 2024, and 2023, respectively.
Remaining Performance Obligation
The Company’s remaining performance obligations represent contracted revenue that has not yet been recognized. It includes deferred revenue and non-cancelable amounts that will be invoiced and recognized in future periods and excludes usage-based fees from SaaS subscriptions in excess of minimum usage commitments from the remaining performance obligations. As of December 31, 2025, the aggregate amount of the transaction price allocated to remaining performance obligations was $565.7 million, which consists of billed considerations of $342.0 million and unbilled considerations of $223.7 million, that the Company expects to recognize as revenue. As of December 31, 2025, the Company expects to recognize 65% of its remaining performance obligations as revenue over the next 12 months, and the remainder thereafter.
Cost to Obtain a Contract
Amortization of deferred contract acquisition costs was $19.9 million, $14.4 million, and $10.2 million for the years ended December 31, 2025, 2024, and 2023, respectively.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 13, 2026 | Showing above |
| 2024 | Feb 14, 2025 | |
| 2023 | Feb 15, 2024 | |
| 2022 | Feb 9, 2023 | |
| 2021 | Feb 11, 2022 | |
| 2020 | Feb 12, 2021 | |
About Revenue Disclosures
Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.
Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.