RTTNews | May 7, 2021 09:57AM EDT

09:56 Friday, May 7, 2021 (RTTNews.com) - Shares of JFrog Ltd. (FROG) are down more than 14% Friday morning despite reporting better-than-expected first-quarter results. The company, however, reported wider net loss for the quarter.

Net loss in the first quarter widened to $7.9 million or $0.09 per share from net loss of $2.13 million or $0.08 per share in the comparable quarter last year.

Excluding items, the company reported earnings of $0.02 per share, that beat the average estimate of analysts polled by Thomson Reuters at $0.01 per share.

Revenue for the quarter increased 37% year-over-year to $45.1 million. The consensus estimate was for $44.82 million.

Looking forward to the second quarter, the company sees revenue between $47.6 million and $48.6 million and adjusted EPS between $0.00 and $0.01. Analysts polled by Thomson Reuters expect the company to report earnings of $0.01 per share on revenue of $44.82 million for the quarter.

For the full-Year, revenue is expected in the range of $198 million to $204 million. The consensus estimate stands at $201.26 million.

JFrog shares, currently at $35.99, has been trading in the range of $34.80- $95.20 in the past 52 weeks.

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