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Side-by-side financial comparison of JFrog Ltd (FROG) and NICOLET BANKSHARES INC (NIC). Click either name above to swap in a different company.
JFrog Ltd is the larger business by last-quarter revenue ($145.3M vs $104.0M, roughly 1.4× NICOLET BANKSHARES INC). NICOLET BANKSHARES INC runs the higher net margin — 38.8% vs -10.5%, a 49.2% gap on every dollar of revenue. On growth, JFrog Ltd posted the faster year-over-year revenue change (25.2% vs 12.5%). NICOLET BANKSHARES INC produced more free cash flow last quarter ($149.4M vs $49.9M). Over the past eight quarters, JFrog Ltd's revenue compounded faster (20.4% CAGR vs 12.5%).
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.
Nicolet Bankshares, Inc. is a U.S. regional bank holding company based in Green Bay, Wisconsin. They are the parent company of Nicolet National Bank, the second largest Wisconsin-based bank.
FROG vs NIC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $145.3M | $104.0M |
| Net Profit | $-15.2M | $40.3M |
| Gross Margin | 77.9% | — |
| Operating Margin | -14.7% | 48.3% |
| Net Margin | -10.5% | 38.8% |
| Revenue YoY | 25.2% | 12.5% |
| Net Profit YoY | 34.4% | 16.9% |
| EPS (diluted) | $-0.13 | $2.63 |
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 | $104.0M | ||
| Q3 25 | $136.9M | $102.9M | ||
| Q2 25 | $127.2M | $95.7M | ||
| Q1 25 | $122.4M | $89.4M | ||
| Q4 24 | $116.1M | $92.4M | ||
| Q3 24 | $109.1M | $90.7M | ||
| Q2 24 | $103.0M | $85.0M | ||
| Q1 24 | $100.3M | $82.2M |
| Q4 25 | $-15.2M | $40.3M | ||
| Q3 25 | $-16.4M | $41.7M | ||
| Q2 25 | $-21.7M | $36.0M | ||
| Q1 25 | $-18.5M | $32.6M | ||
| Q4 24 | $-23.2M | $34.5M | ||
| Q3 24 | $-22.9M | $32.5M | ||
| Q2 24 | $-14.3M | $29.3M | ||
| Q1 24 | $-8.8M | $27.8M |
| Q4 25 | 77.9% | — | ||
| Q3 25 | 77.4% | — | ||
| Q2 25 | 76.3% | — | ||
| Q1 25 | 75.3% | — | ||
| Q4 24 | 75.4% | — | ||
| Q3 24 | 75.0% | — | ||
| Q2 24 | 78.8% | — | ||
| Q1 24 | 79.5% | — |
| Q4 25 | -14.7% | 48.3% | ||
| Q3 25 | -15.8% | 50.4% | ||
| Q2 25 | -20.4% | 46.8% | ||
| Q1 25 | -18.8% | 44.9% | ||
| Q4 24 | -21.9% | 46.8% | ||
| Q3 24 | -27.4% | 45.0% | ||
| Q2 24 | -18.6% | 43.3% | ||
| Q1 24 | -16.6% | 41.8% |
| Q4 25 | -10.5% | 38.8% | ||
| Q3 25 | -12.0% | 40.6% | ||
| Q2 25 | -17.0% | 37.6% | ||
| Q1 25 | -15.1% | 36.4% | ||
| Q4 24 | -20.0% | 37.3% | ||
| Q3 24 | -21.0% | 35.8% | ||
| Q2 24 | -13.9% | 34.5% | ||
| Q1 24 | -8.8% | 33.8% |
| Q4 25 | $-0.13 | $2.63 | ||
| Q3 25 | $-0.14 | $2.73 | ||
| Q2 25 | $-0.19 | $2.34 | ||
| Q1 25 | $-0.16 | $2.08 | ||
| Q4 24 | $-0.21 | $2.21 | ||
| Q3 24 | $-0.21 | $2.10 | ||
| Q2 24 | $-0.13 | $1.92 | ||
| Q1 24 | $-0.08 | $1.82 |
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 | — |
| Total DebtLower is stronger | — | $134.9M |
| Stockholders' EquityBook value | $887.4M | $1.3B |
| Total Assets | $1.3B | $9.2B |
| Debt / EquityLower = less leverage | — | 0.11× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $704.4M | — | ||
| Q3 25 | $651.1M | — | ||
| Q2 25 | $611.7M | — | ||
| Q1 25 | $563.5M | — | ||
| Q4 24 | $522.0M | — | ||
| Q3 24 | $467.8M | — | ||
| Q2 24 | $591.3M | — | ||
| Q1 24 | $579.6M | — |
| Q4 25 | — | $134.9M | ||
| Q3 25 | — | $134.6M | ||
| Q2 25 | — | $134.3M | ||
| Q1 25 | — | $156.6M | ||
| Q4 24 | — | $161.4M | ||
| Q3 24 | — | $161.2M | ||
| Q2 24 | — | $162.4M | ||
| Q1 24 | — | $162.3M |
| Q4 25 | $887.4M | $1.3B | ||
| Q3 25 | $859.4M | $1.2B | ||
| Q2 25 | $826.5M | $1.2B | ||
| Q1 25 | $800.0M | $1.2B | ||
| Q4 24 | $773.5M | $1.2B | ||
| Q3 24 | $756.2M | $1.1B | ||
| Q2 24 | $721.4M | $1.1B | ||
| Q1 24 | $707.8M | $1.1B |
| Q4 25 | $1.3B | $9.2B | ||
| Q3 25 | $1.3B | $9.0B | ||
| Q2 25 | $1.2B | $8.9B | ||
| Q1 25 | $1.2B | $9.0B | ||
| Q4 24 | $1.1B | $8.8B | ||
| Q3 24 | $1.1B | $8.6B | ||
| Q2 24 | $1.0B | $8.6B | ||
| Q1 24 | $997.1M | $8.4B |
| Q4 25 | — | 0.11× | ||
| Q3 25 | — | 0.11× | ||
| Q2 25 | — | 0.11× | ||
| Q1 25 | — | 0.13× | ||
| Q4 24 | — | 0.14× | ||
| Q3 24 | — | 0.14× | ||
| Q2 24 | — | 0.15× | ||
| Q1 24 | — | 0.15× |
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 | $153.5M |
| Free Cash FlowOCF − Capex | $49.9M | $149.4M |
| FCF MarginFCF / Revenue | 34.3% | 143.7% |
| Capex IntensityCapex / Revenue | 0.6% | 3.9% |
| Cash ConversionOCF / Net Profit | — | 3.81× |
| TTM Free Cash FlowTrailing 4 quarters | $142.3M | $275.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $50.7M | $153.5M | ||
| Q3 25 | $30.2M | $45.9M | ||
| Q2 25 | $36.1M | $38.9M | ||
| Q1 25 | $28.8M | $41.8M | ||
| Q4 24 | $49.1M | $133.7M | ||
| Q3 24 | $27.6M | $39.6M | ||
| Q2 24 | $16.7M | $37.3M | ||
| Q1 24 | $17.5M | $23.4M |
| Q4 25 | $49.9M | $149.4M | ||
| Q3 25 | $28.8M | $45.9M | ||
| Q2 25 | $35.5M | $38.4M | ||
| Q1 25 | $28.1M | $41.3M | ||
| Q4 24 | $48.5M | $116.8M | ||
| Q3 24 | $26.7M | $34.7M | ||
| Q2 24 | $16.0M | $34.4M | ||
| Q1 24 | $16.6M | $20.1M |
| Q4 25 | 34.3% | 143.7% | ||
| Q3 25 | 21.0% | 44.6% | ||
| Q2 25 | 27.9% | 40.1% | ||
| Q1 25 | 23.0% | 46.2% | ||
| Q4 24 | 41.8% | 126.4% | ||
| Q3 24 | 24.5% | 38.3% | ||
| Q2 24 | 15.5% | 40.5% | ||
| Q1 24 | 16.6% | 24.4% |
| Q4 25 | 0.6% | 3.9% | ||
| Q3 25 | 1.0% | 0.0% | ||
| Q2 25 | 0.5% | 0.6% | ||
| Q1 25 | 0.5% | 0.5% | ||
| Q4 24 | 0.5% | 18.3% | ||
| Q3 24 | 0.9% | 5.4% | ||
| Q2 24 | 0.7% | 3.5% | ||
| Q1 24 | 0.8% | 4.0% |
| Q4 25 | — | 3.81× | ||
| Q3 25 | — | 1.10× | ||
| Q2 25 | — | 1.08× | ||
| Q1 25 | — | 1.28× | ||
| Q4 24 | — | 3.88× | ||
| Q3 24 | — | 1.22× | ||
| Q2 24 | — | 1.28× | ||
| Q1 24 | — | 0.84× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
