Benzinga | Feb 11, 2021 12:33PM EST

JFrog Shares Rise On Upbeat Q4 Results, Optimistic Q1 Guidance

* JFrog Ltd (NASDAQ: FROG) reported year-on-year revenue growth of 39% to $42.7 million in the fourth quarter of FY20, beating the consensus estimate of $41.5 million. Higher demand for its hybrid, universal DevOps platform, expansion by current customers, and accelerating growth in multi-cloud business led to the growth.

* Gross profit rose 40% to $34.6 million with a margin expansion of 100 basis points. Higher operating expenses led to a huge spike in operating loss to $8 million.

* The EPS declined 33% to $0.02, in-line with the analyst estimate.

* Operating cash flow improved 178% to $12.8 million, and cash and cash equivalents stood at $598 million.

* The revenue outlook for the first quarter of FY21 lies between $44 million and $45 million versus the analyst estimate of $43.84 million.

* The operating income guidance falls between $0.5 million and $1.5 million.

* The EPS expectation lies between $0.00 and $0.01 in line with the consensus estimate.

* Price action: FROG shares are up 2.33% at $67.50 on the last check Thursday.