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JFrog JFrog Announces Third Quarter Fiscal 2021 Results November 4 , 2021 Quarterly Revenue Increases 38 % ; Cloud Revenue Increases 50 % Customer Count with ARR Greater than $ 100K Increases 49 % Completes Acquisition of Upswift SUNNYVALE , Calif .-- ( BUSINESS WIRE ) -- Nov . 4 , 2021 -- JFrog Ltd. ( NASDAQ : FROG ) , the Liquid Software company and creators of the DevOps Platform , today announced financial results for its third quarter ended September 30 , 2021 . " JFrog's strong performance in Q3 across all metrics demonstrated the company's commitment to both new business and expansion of existing customers , " said Shlomi Ben Haim , CEO and Co - Founder of JFrog . " We successfully delivered on numerous fronts including technology innovation , revenue growth , cloud expansion , net dollar retention and gross margin . We started the second half of 2021 strong , and we will continue investing in our team and technology to drive further growth . " Third Quarter Financial Highlights • Revenue for the third quarter of 2021 was $ 53.7 million , an increase of 38 % over $ 38.9 million in the third quarter of 2020 , and compared to 34 % growth in the prior quarter . • GAAP Gross Profit was $ 42.2 million ; GAAP Gross Margin was 78.7 % . • Non - GAAP Gross Profit was $ 45.4 million ; Non - GAAP Gross Margin was 84.5 % . • GAAP Operating Loss was ( $ 20.9 million ) ; GAAP Operating Margin was ( 38.9 % ) . • Non - GAAP Operating Income was $ 1.3 million ; Non - GAAP Operating Margin was 2.5 % . • GAAP Net Loss Per Diluted Share was ( $ 0.21 ) ; Non - GAAP Net Income Per Diluted Share was $ 0.01 . • Operating Cash Flow was ( $ 17.7 ) million , with Free Cash Flow of ( $ 18.7 ) million , due to $ 19.0 million in holdbacks related to recent acquisitions . • Cash , Cash Equivalents and Investments were $ 402.4 million as of September 30 , 2021 . Third Quarter & Recent Business Highlights • Accelerating growth to 466 customers with ARR greater than $ 100k at quarter end , an increase of 49 % from 313 as of September 30 , 2020 . • Strong growth to 14 customers with ARR greater than $ 1 million at quarter end , an increase of 56 % from 9 as of September 30 , 2020 . • Cloud revenue in Q3 was $ 13.1 million , 50 % growth over the same period last year , compared to 47 % growth in the previous quarter . Cloud represented 24 % of total revenue , up from 22 % in the same period last year . • Net Dollar Retention rate for the trailing four quarters remained at 129 % . • Customers using the complete JFrog Platform ( Enterprise + subscription ) represented 34 % of revenue in the third quarter of 2021 , versus 19 % in the same period last year . • Completed the acquisition of Upswift to deliver the industry's first complete development - to - device platform , expanding the total addressable market . • Received U.S. Department of Defense " Iron Bank " certification for JFrog products to expand usage of JFrog in the government sector . • Partnered with SBC & S , a SoftBank company , as part of the APAC channel program , to accelerate DevOps adoption in Japan with the JFrog Platform . • Achieved CVE Numbering Authority ( CNA ) certification to contribute data to global security standards bodies , which is