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Side-by-side financial comparison of JFrog Ltd (FROG) and Mistras Group, Inc. (MG). Click either name above to swap in a different company.
Mistras Group, Inc. is the larger business by last-quarter revenue ($181.5M vs $145.3M, roughly 1.2× JFrog Ltd). Mistras Group, Inc. runs the higher net margin — 2.1% vs -10.5%, a 12.5% gap on every dollar of revenue. On growth, JFrog Ltd posted the faster year-over-year revenue change (25.2% vs 5.1%). JFrog Ltd produced more free cash flow last quarter ($49.9M vs $26.0M). Over the past eight quarters, JFrog Ltd's revenue compounded faster (20.4% CAGR vs -0.8%).
JFrog Ltd is a global DevOps technology provider that delivers end-to-end software release, artifact management, and security solutions. It serves clients across tech, finance, retail, and manufacturing sectors, helping teams streamline development and delivery workflows for cloud, on-premises, and hybrid infrastructure.
Mistras Group, Inc. is a global provider of asset integrity and protection solutions, offering non-destructive testing, inspection, real-time monitoring, and engineering consulting services. Its key client segments include oil and gas, aerospace, power generation, and manufacturing industries, with operations spanning North America, Europe, and Asia-Pacific, helping clients enhance operational safety, extend asset lifespans, and minimize unplanned downtime.
FROG vs MG — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $145.3M | $181.5M |
| Net Profit | $-15.2M | $3.8M |
| Gross Margin | 77.9% | 28.4% |
| Operating Margin | -14.7% | 7.0% |
| Net Margin | -10.5% | 2.1% |
| Revenue YoY | 25.2% | 5.1% |
| Net Profit YoY | 34.4% | -27.4% |
| EPS (diluted) | $-0.13 | $0.12 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $145.3M | $181.5M | ||
| Q3 25 | $136.9M | $195.5M | ||
| Q2 25 | $127.2M | $185.4M | ||
| Q1 25 | $122.4M | $161.6M | ||
| Q4 24 | $116.1M | $172.7M | ||
| Q3 24 | $109.1M | $182.7M | ||
| Q2 24 | $103.0M | $189.8M | ||
| Q1 24 | $100.3M | $184.4M |
| Q4 25 | $-15.2M | $3.8M | ||
| Q3 25 | $-16.4M | $13.1M | ||
| Q2 25 | $-21.7M | $3.0M | ||
| Q1 25 | $-18.5M | $-3.2M | ||
| Q4 24 | $-23.2M | $5.2M | ||
| Q3 24 | $-22.9M | $6.4M | ||
| Q2 24 | $-14.3M | $6.4M | ||
| Q1 24 | $-8.8M | $995.0K |
| Q4 25 | 77.9% | 28.4% | ||
| Q3 25 | 77.4% | 29.8% | ||
| Q2 25 | 76.3% | 29.1% | ||
| Q1 25 | 75.3% | 25.3% | ||
| Q4 24 | 75.4% | 26.5% | ||
| Q3 24 | 75.0% | 26.8% | ||
| Q2 24 | 78.8% | 27.1% | ||
| Q1 24 | 79.5% | 25.0% |
| Q4 25 | -14.7% | 7.0% | ||
| Q3 25 | -15.8% | 10.4% | ||
| Q2 25 | -20.4% | 4.5% | ||
| Q1 25 | -18.8% | -0.6% | ||
| Q4 24 | -21.9% | 6.1% | ||
| Q3 24 | -27.4% | 6.5% | ||
| Q2 24 | -18.6% | 6.3% | ||
| Q1 24 | -16.6% | 3.0% |
| Q4 25 | -10.5% | 2.1% | ||
| Q3 25 | -12.0% | 6.7% | ||
| Q2 25 | -17.0% | 1.6% | ||
| Q1 25 | -15.1% | -2.0% | ||
| Q4 24 | -20.0% | 3.0% | ||
| Q3 24 | -21.0% | 3.5% | ||
| Q2 24 | -13.9% | 3.4% | ||
| Q1 24 | -8.8% | 0.5% |
| Q4 25 | $-0.13 | $0.12 | ||
| Q3 25 | $-0.14 | $0.41 | ||
| Q2 25 | $-0.19 | $0.10 | ||
| Q1 25 | $-0.16 | $-0.10 | ||
| Q4 24 | $-0.21 | $0.17 | ||
| Q3 24 | $-0.21 | $0.20 | ||
| Q2 24 | $-0.13 | $0.20 | ||
| Q1 24 | $-0.08 | $0.03 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $704.4M | $28.0M |
| Total DebtLower is stronger | — | $178.0M |
| Stockholders' EquityBook value | $887.4M | $235.1M |
| Total Assets | $1.3B | $578.8M |
| Debt / EquityLower = less leverage | — | 0.76× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $704.4M | $28.0M | ||
| Q3 25 | $651.1M | $27.8M | ||
| Q2 25 | $611.7M | $20.0M | ||
| Q1 25 | $563.5M | $18.5M | ||
| Q4 24 | $522.0M | $18.3M | ||
| Q3 24 | $467.8M | $20.4M | ||
| Q2 24 | $591.3M | $17.2M | ||
| Q1 24 | $579.6M | $16.9M |
| Q4 25 | — | $178.0M | ||
| Q3 25 | — | $202.3M | ||
| Q2 25 | — | $189.4M | ||
| Q1 25 | — | $171.9M | ||
| Q4 24 | — | $169.6M | ||
| Q3 24 | — | $189.7M | ||
| Q2 24 | — | $199.7M | ||
| Q1 24 | — | $198.4M |
| Q4 25 | $887.4M | $235.1M | ||
| Q3 25 | $859.4M | $227.4M | ||
| Q2 25 | $826.5M | $215.8M | ||
| Q1 25 | $800.0M | $198.7M | ||
| Q4 24 | $773.5M | $198.6M | ||
| Q3 24 | $756.2M | $205.2M | ||
| Q2 24 | $721.4M | $193.2M | ||
| Q1 24 | $707.8M | $187.1M |
| Q4 25 | $1.3B | $578.8M | ||
| Q3 25 | $1.3B | $596.3M | ||
| Q2 25 | $1.2B | $571.0M | ||
| Q1 25 | $1.2B | $526.8M | ||
| Q4 24 | $1.1B | $523.0M | ||
| Q3 24 | $1.1B | $551.7M | ||
| Q2 24 | $1.0B | $548.1M | ||
| Q1 24 | $997.1M | $542.1M |
| Q4 25 | — | 0.76× | ||
| Q3 25 | — | 0.89× | ||
| Q2 25 | — | 0.88× | ||
| Q1 25 | — | 0.87× | ||
| Q4 24 | — | 0.85× | ||
| Q3 24 | — | 0.92× | ||
| Q2 24 | — | 1.03× | ||
| Q1 24 | — | 1.06× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $50.7M | $32.1M |
| Free Cash FlowOCF − Capex | $49.9M | $26.0M |
| FCF MarginFCF / Revenue | 34.3% | 14.3% |
| Capex IntensityCapex / Revenue | 0.6% | 3.4% |
| Cash ConversionOCF / Net Profit | — | 8.55× |
| TTM Free Cash FlowTrailing 4 quarters | $142.3M | $8.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $50.7M | $32.1M | ||
| Q3 25 | $30.2M | $4.5M | ||
| Q2 25 | $36.1M | $-9.3M | ||
| Q1 25 | $28.8M | $5.6M | ||
| Q4 24 | $49.1M | $25.7M | ||
| Q3 24 | $27.6M | $19.4M | ||
| Q2 24 | $16.7M | $4.5M | ||
| Q1 24 | $17.5M | $604.0K |
| Q4 25 | $49.9M | $26.0M | ||
| Q3 25 | $28.8M | $-4.1M | ||
| Q2 25 | $35.5M | $-14.7M | ||
| Q1 25 | $28.1M | $1.1M | ||
| Q4 24 | $48.5M | $22.1M | ||
| Q3 24 | $26.7M | $14.6M | ||
| Q2 24 | $16.0M | $-284.0K | ||
| Q1 24 | $16.6M | $-4.2M |
| Q4 25 | 34.3% | 14.3% | ||
| Q3 25 | 21.0% | -2.1% | ||
| Q2 25 | 27.9% | -7.9% | ||
| Q1 25 | 23.0% | 0.7% | ||
| Q4 24 | 41.8% | 12.8% | ||
| Q3 24 | 24.5% | 8.0% | ||
| Q2 24 | 15.5% | -0.1% | ||
| Q1 24 | 16.6% | -2.3% |
| Q4 25 | 0.6% | 3.4% | ||
| Q3 25 | 1.0% | 4.4% | ||
| Q2 25 | 0.5% | 2.9% | ||
| Q1 25 | 0.5% | 2.8% | ||
| Q4 24 | 0.5% | 2.1% | ||
| Q3 24 | 0.9% | 2.6% | ||
| Q2 24 | 0.7% | 2.5% | ||
| Q1 24 | 0.8% | 2.6% |
| Q4 25 | — | 8.55× | ||
| Q3 25 | — | 0.34× | ||
| Q2 25 | — | -3.07× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 4.96× | ||
| Q3 24 | — | 3.02× | ||
| Q2 24 | — | 0.71× | ||
| Q1 24 | — | 0.61× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
