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Side-by-side financial comparison of JFrog Ltd (FROG) and P10, Inc. (PX). Click either name above to swap in a different company.
JFrog Ltd is the larger business by last-quarter revenue ($145.3M vs $81.0M, roughly 1.8× P10, Inc.). P10, Inc. runs the higher net margin — 11.7% vs -10.5%, a 22.1% gap on every dollar of revenue. On growth, JFrog Ltd posted the faster year-over-year revenue change (25.2% vs -4.7%). JFrog Ltd produced more free cash flow last quarter ($49.9M vs $18.1M). Over the past eight quarters, JFrog Ltd's revenue compounded faster (20.4% CAGR vs 10.7%).
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.
P10, Inc. is a global alternative investment management firm that offers a diversified portfolio of investment solutions spanning private equity, private credit, real assets and venture capital. It primarily caters to institutional clients including pension funds, endowments, foundations, and high-net-worth individuals across North America, Europe, and Asia Pacific.
FROG vs PX — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $145.3M | $81.0M |
| Net Profit | $-15.2M | $9.5M |
| Gross Margin | 77.9% | — |
| Operating Margin | -14.7% | 31.9% |
| Net Margin | -10.5% | 11.7% |
| Revenue YoY | 25.2% | -4.7% |
| Net Profit YoY | 34.4% | 79.0% |
| EPS (diluted) | $-0.13 | $0.08 |
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 | $81.0M | ||
| Q3 25 | $136.9M | $75.9M | ||
| Q2 25 | $127.2M | $72.7M | ||
| Q1 25 | $122.4M | $67.7M | ||
| Q4 24 | $116.1M | $85.0M | ||
| Q3 24 | $109.1M | $74.2M | ||
| Q2 24 | $103.0M | $71.1M | ||
| Q1 24 | $100.3M | $66.1M |
| Q4 25 | $-15.2M | $9.5M | ||
| Q3 25 | $-16.4M | $2.1M | ||
| Q2 25 | $-21.7M | $3.4M | ||
| Q1 25 | $-18.5M | $4.5M | ||
| Q4 24 | $-23.2M | $5.3M | ||
| Q3 24 | $-22.9M | $1.4M | ||
| Q2 24 | $-14.3M | $7.0M | ||
| Q1 24 | $-8.8M | $5.0M |
| 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% | 31.9% | ||
| Q3 25 | -15.8% | 14.1% | ||
| Q2 25 | -20.4% | 24.4% | ||
| Q1 25 | -18.8% | 16.6% | ||
| Q4 24 | -21.9% | 26.9% | ||
| Q3 24 | -27.4% | 11.9% | ||
| Q2 24 | -18.6% | 23.7% | ||
| Q1 24 | -16.6% | 18.3% |
| Q4 25 | -10.5% | 11.7% | ||
| Q3 25 | -12.0% | 2.8% | ||
| Q2 25 | -17.0% | 4.7% | ||
| Q1 25 | -15.1% | 6.7% | ||
| Q4 24 | -20.0% | 6.2% | ||
| Q3 24 | -21.0% | 1.9% | ||
| Q2 24 | -13.9% | 9.8% | ||
| Q1 24 | -8.8% | 7.6% |
| Q4 25 | $-0.13 | $0.08 | ||
| Q3 25 | $-0.14 | $0.02 | ||
| Q2 25 | $-0.19 | $0.03 | ||
| Q1 25 | $-0.16 | $0.04 | ||
| Q4 24 | $-0.21 | $0.05 | ||
| Q3 24 | $-0.21 | $0.01 | ||
| Q2 24 | $-0.13 | $0.06 | ||
| Q1 24 | $-0.08 | $0.04 |
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 | $28.2M |
| Total DebtLower is stronger | — | $373.2M |
| Stockholders' EquityBook value | $887.4M | $403.5M |
| Total Assets | $1.3B | $928.3M |
| Debt / EquityLower = less leverage | — | 0.93× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $704.4M | $28.2M | ||
| Q3 25 | $651.1M | $40.0M | ||
| Q2 25 | $611.7M | $33.4M | ||
| Q1 25 | $563.5M | $74.4M | ||
| Q4 24 | $522.0M | $67.5M | ||
| Q3 24 | $467.8M | $61.5M | ||
| Q2 24 | $591.3M | $31.2M | ||
| Q1 24 | $579.6M | $29.0M |
| Q4 25 | — | $373.2M | ||
| Q3 25 | — | $393.4M | ||
| Q2 25 | — | $373.0M | ||
| Q1 25 | — | $357.2M | ||
| Q4 24 | — | $319.8M | ||
| Q3 24 | — | $319.4M | ||
| Q2 24 | — | $300.6M | ||
| Q1 24 | — | $314.0M |
| Q4 25 | $887.4M | $403.5M | ||
| Q3 25 | $859.4M | $396.8M | ||
| Q2 25 | $826.5M | $388.9M | ||
| Q1 25 | $800.0M | $374.3M | ||
| Q4 24 | $773.5M | $386.9M | ||
| Q3 24 | $756.2M | $394.1M | ||
| Q2 24 | $721.4M | $396.9M | ||
| Q1 24 | $707.8M | $400.1M |
| Q4 25 | $1.3B | $928.3M | ||
| Q3 25 | $1.3B | $936.0M | ||
| Q2 25 | $1.2B | $932.2M | ||
| Q1 25 | $1.2B | $877.4M | ||
| Q4 24 | $1.1B | $869.3M | ||
| Q3 24 | $1.1B | $857.0M | ||
| Q2 24 | $1.0B | $823.2M | ||
| Q1 24 | $997.1M | $832.8M |
| Q4 25 | — | 0.93× | ||
| Q3 25 | — | 0.99× | ||
| Q2 25 | — | 0.96× | ||
| Q1 25 | — | 0.95× | ||
| Q4 24 | — | 0.83× | ||
| Q3 24 | — | 0.81× | ||
| Q2 24 | — | 0.76× | ||
| Q1 24 | — | 0.78× |
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 | $23.0M |
| Free Cash FlowOCF − Capex | $49.9M | $18.1M |
| FCF MarginFCF / Revenue | 34.3% | 22.3% |
| Capex IntensityCapex / Revenue | 0.6% | 6.0% |
| Cash ConversionOCF / Net Profit | — | 2.43× |
| TTM Free Cash FlowTrailing 4 quarters | $142.3M | $14.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $50.7M | $23.0M | ||
| Q3 25 | $30.2M | $-8.6M | ||
| Q2 25 | $36.1M | $13.4M | ||
| Q1 25 | $28.8M | $-4.7M | ||
| Q4 24 | $49.1M | $101.0M | ||
| Q3 24 | $27.6M | $27.5M | ||
| Q2 24 | $16.7M | $34.8M | ||
| Q1 24 | $17.5M | $11.0M |
| Q4 25 | $49.9M | $18.1M | ||
| Q3 25 | $28.8M | $-9.5M | ||
| Q2 25 | $35.5M | $11.6M | ||
| Q1 25 | $28.1M | $-6.0M | ||
| Q4 24 | $48.5M | $96.6M | ||
| Q3 24 | $26.7M | $25.2M | ||
| Q2 24 | $16.0M | $33.9M | ||
| Q1 24 | $16.6M | $10.7M |
| Q4 25 | 34.3% | 22.3% | ||
| Q3 25 | 21.0% | -12.6% | ||
| Q2 25 | 27.9% | 15.9% | ||
| Q1 25 | 23.0% | -8.9% | ||
| Q4 24 | 41.8% | 113.6% | ||
| Q3 24 | 24.5% | 34.0% | ||
| Q2 24 | 15.5% | 47.7% | ||
| Q1 24 | 16.6% | 16.2% |
| Q4 25 | 0.6% | 6.0% | ||
| Q3 25 | 1.0% | 1.2% | ||
| Q2 25 | 0.5% | 2.5% | ||
| Q1 25 | 0.5% | 1.9% | ||
| Q4 24 | 0.5% | 5.2% | ||
| Q3 24 | 0.9% | 3.0% | ||
| Q2 24 | 0.7% | 1.3% | ||
| Q1 24 | 0.8% | 0.4% |
| Q4 25 | — | 2.43× | ||
| Q3 25 | — | -4.01× | ||
| Q2 25 | — | 3.96× | ||
| Q1 25 | — | -1.05× | ||
| Q4 24 | — | 19.12× | ||
| Q3 24 | — | 19.54× | ||
| Q2 24 | — | 4.98× | ||
| Q1 24 | — | 2.18× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FROG
Segment breakdown not available.
PX
| Management Fees | $78.1M | 96% |
| Advisory Fees | $1.8M | 2% |
