JFrog (FROG) Operating Margin (2019 - 2026)
JFrog's Operating Margin came in at -8.09% for Q2 2026, up 12.32 percentage points from -20.41% a year earlier and up 0.31 percentage points from the prior quarter.
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Analysis
JFrog (FROG) Operating Margin (2019 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, JFrog reported Operating Margin of -11.52%, up 10.45 percentage points year-over-year; for FY2025, it came in at -17.27%, up 3.99 percentage points from FY2024.
- Operating Margin has increased in each of the last four years, though with a five-year change of -7.86 percentage points (FY2020 to FY2025).
- Going back by year, Operating Margin was -21.26% in FY2024 (+0.33 pp), -21.59% in FY2023 (+10.49 pp), -32.08% in FY2022 (+1.00 pp) and -33.08% in FY2021 (-23.67 pp).
- The Q2 2026 figure represents the highest quarterly Operating Margin since Q2 2020.
- Year-over-year, Operating Margin has increased for four consecutive quarters, with an average year-over-year change of +3.05 percentage points over the last eight quarters.
- The fastest year-over-year change in Operating Margin over five years came in Q4 2023 (a gain of 16.66 percentage points), and the weakest in Q3 2021 (a drop of 25.06 percentage points).
- Business Quant data shows FROG's Operating Margin at -8.40% (Q1 2026), -14.67% (Q4 2025) and -15.77% (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Palo Alto Networks | 319.55 Bn | 304.63 Bn | 2.30 Bn | 5.04% |
| 2 | CrowdStrike Holdings | 265.46 Bn | 245.90 Bn | 1.10 Bn | -2.26% |
| 3 | Fortinet | 129.36 Bn | 115.29 Bn | 1.64 Bn | 33.66% |
| 4 | Snowflake | 115.65 Bn | 102.97 Bn | 1.04 Bn | -17.00% |
| 5 | Datadog | 96.45 Bn | 78.09 Bn | 881.34 Mn | 0.49% |
| 6 | Axon Enterprise | 34.50 Bn | 29.03 Bn | 546.45 Mn | 5.17% |
| 7 | Okta | 33.79 Bn | 23.89 Bn | 641.00 Mn | 13.29% |
| 8 | Zscaler | 32.51 Bn | 18.63 Bn | - | - |
| 9 | Baidu | 29.59 Bn | -44.04 Bn | 1.47 Mn | 9.66% |
| 10 | JFrog | 10.93 Bn | 8.01 Bn | 127.62 Mn | -8.09% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -8.09% |
| Mar 31, 2026 | -8.40% |
| Dec 31, 2025 | -14.67% |
| Sep 30, 2025 | -15.77% |
| Jun 30, 2025 | -20.41% |
| Mar 31, 2025 | -18.77% |
| Dec 31, 2024 | -21.89% |
| Sep 30, 2024 | -27.44% |
| Jun 30, 2024 | -18.56% |
| Mar 31, 2024 | -16.58% |
| Dec 31, 2023 | -15.81% |
| Sep 30, 2023 | -20.36% |
| Jun 30, 2023 | -22.46% |
| Mar 31, 2023 | -29.08% |
| Dec 31, 2022 | -32.47% |
| Sep 30, 2022 | -32.56% |
| Jun 30, 2022 | -33.05% |
| Mar 31, 2022 | -30.05% |
| Dec 31, 2021 | -38.17% |
| Sep 30, 2021 | -38.95% |
API Access
JFrog Operating Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-margin&ticker=FROG&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "FROG", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=FROG&period=max&api_key=YOUR_API_KEY");
const data = await res.json();