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Side-by-side financial comparison of JFrog Ltd (FROG) and Smart Sand, Inc. (SND). Click either name above to swap in a different company.
JFrog Ltd is the larger business by last-quarter revenue ($145.3M vs $86.0M, roughly 1.7× Smart Sand, Inc.). Smart Sand, Inc. runs the higher net margin — 1.4% vs -10.5%, a 11.8% gap on every dollar of revenue. On growth, JFrog Ltd posted the faster year-over-year revenue change (25.2% vs -5.8%). JFrog Ltd produced more free cash flow last quarter ($49.9M vs $20.4M). Over the past eight quarters, JFrog Ltd's revenue compounded faster (20.4% CAGR vs 1.8%).
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.
Sand 9 is a fabless Micro-electromechanical system (MEMS) company based in Cambridge, Massachusetts. Sand 9 developed a piezoelectric MEMS resonator to serve as an alternative for quartz timing devices in applications such as smart phones, low-power wireless devices, and communications infrastructure equipment.
FROG vs SND — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $145.3M | $86.0M |
| Net Profit | $-15.2M | $1.2M |
| Gross Margin | 77.9% | 13.0% |
| Operating Margin | -14.7% | -3.1% |
| Net Margin | -10.5% | 1.4% |
| Revenue YoY | 25.2% | -5.8% |
| Net Profit YoY | 34.4% | -68.5% |
| EPS (diluted) | $-0.13 | $0.03 |
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 | $86.0M | ||
| Q3 25 | $136.9M | $92.8M | ||
| Q2 25 | $127.2M | $85.8M | ||
| Q1 25 | $122.4M | $65.6M | ||
| Q4 24 | $116.1M | $91.4M | ||
| Q3 24 | $109.1M | $63.2M | ||
| Q2 24 | $103.0M | $73.8M | ||
| Q1 24 | $100.3M | $83.1M |
| Q4 25 | $-15.2M | $1.2M | ||
| Q3 25 | $-16.4M | $3.0M | ||
| Q2 25 | $-21.7M | $21.4M | ||
| Q1 25 | $-18.5M | $-24.2M | ||
| Q4 24 | $-23.2M | $3.7M | ||
| Q3 24 | $-22.9M | $-98.0K | ||
| Q2 24 | $-14.3M | $-430.0K | ||
| Q1 24 | $-8.8M | $-216.0K |
| Q4 25 | 77.9% | 13.0% | ||
| Q3 25 | 77.4% | 16.1% | ||
| Q2 25 | 76.3% | 10.4% | ||
| Q1 25 | 75.3% | 4.2% | ||
| Q4 24 | 75.4% | 14.7% | ||
| Q3 24 | 75.0% | 10.3% | ||
| Q2 24 | 78.8% | 17.7% | ||
| Q1 24 | 79.5% | 14.2% |
| Q4 25 | -14.7% | -3.1% | ||
| Q3 25 | -15.8% | 5.8% | ||
| Q2 25 | -20.4% | -0.1% | ||
| Q1 25 | -18.8% | -10.8% | ||
| Q4 24 | -21.9% | 3.9% | ||
| Q3 24 | -27.4% | -7.8% | ||
| Q2 24 | -18.6% | 4.8% | ||
| Q1 24 | -16.6% | 0.9% |
| Q4 25 | -10.5% | 1.4% | ||
| Q3 25 | -12.0% | 3.2% | ||
| Q2 25 | -17.0% | 24.9% | ||
| Q1 25 | -15.1% | -37.0% | ||
| Q4 24 | -20.0% | 4.1% | ||
| Q3 24 | -21.0% | -0.2% | ||
| Q2 24 | -13.9% | -0.6% | ||
| Q1 24 | -8.8% | -0.3% |
| Q4 25 | $-0.13 | $0.03 | ||
| Q3 25 | $-0.14 | $0.08 | ||
| Q2 25 | $-0.19 | $0.54 | ||
| Q1 25 | $-0.16 | $-0.62 | ||
| Q4 24 | $-0.21 | $0.10 | ||
| Q3 24 | $-0.21 | $0.00 | ||
| Q2 24 | $-0.13 | $-0.01 | ||
| Q1 24 | $-0.08 | $-0.01 |
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 | $22.6M |
| Total DebtLower is stronger | — | $15.0M |
| Stockholders' EquityBook value | $887.4M | $239.7M |
| Total Assets | $1.3B | $340.0M |
| Debt / EquityLower = less leverage | — | 0.06× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $704.4M | $22.6M | ||
| Q3 25 | $651.1M | $5.1M | ||
| Q2 25 | $611.7M | $4.3M | ||
| Q1 25 | $563.5M | $5.1M | ||
| Q4 24 | $522.0M | $1.6M | ||
| Q3 24 | $467.8M | $7.2M | ||
| Q2 24 | $591.3M | $6.3M | ||
| Q1 24 | $579.6M | $4.6M |
| Q4 25 | — | $15.0M | ||
| Q3 25 | — | $14.3M | ||
| Q2 25 | — | $23.5M | ||
| Q1 25 | — | $13.7M | ||
| Q4 24 | — | $14.7M | ||
| Q3 24 | — | $15.7M | ||
| Q2 24 | — | $17.1M | ||
| Q1 24 | — | $25.5M |
| Q4 25 | $887.4M | $239.7M | ||
| Q3 25 | $859.4M | $239.9M | ||
| Q2 25 | $826.5M | $240.5M | ||
| Q1 25 | $800.0M | $219.9M | ||
| Q4 24 | $773.5M | $243.8M | ||
| Q3 24 | $756.2M | $243.6M | ||
| Q2 24 | $721.4M | $242.9M | ||
| Q1 24 | $707.8M | $242.5M |
| Q4 25 | $1.3B | $340.0M | ||
| Q3 25 | $1.3B | $343.1M | ||
| Q2 25 | $1.2B | $345.8M | ||
| Q1 25 | $1.2B | $326.9M | ||
| Q4 24 | $1.1B | $341.5M | ||
| Q3 24 | $1.1B | $335.8M | ||
| Q2 24 | $1.0B | $341.8M | ||
| Q1 24 | $997.1M | $349.3M |
| Q4 25 | — | 0.06× | ||
| Q3 25 | — | 0.06× | ||
| Q2 25 | — | 0.10× | ||
| Q1 25 | — | 0.06× | ||
| Q4 24 | — | 0.06× | ||
| Q3 24 | — | 0.06× | ||
| Q2 24 | — | 0.07× | ||
| Q1 24 | — | 0.11× |
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 | $22.4M |
| Free Cash FlowOCF − Capex | $49.9M | $20.4M |
| FCF MarginFCF / Revenue | 34.3% | 23.7% |
| Capex IntensityCapex / Revenue | 0.6% | 2.3% |
| Cash ConversionOCF / Net Profit | — | 18.99× |
| TTM Free Cash FlowTrailing 4 quarters | $142.3M | $32.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $50.7M | $22.4M | ||
| Q3 25 | $30.2M | $18.2M | ||
| Q2 25 | $36.1M | $-5.1M | ||
| Q1 25 | $28.8M | $8.7M | ||
| Q4 24 | $49.1M | $1.0M | ||
| Q3 24 | $27.6M | $5.8M | ||
| Q2 24 | $16.7M | $14.9M | ||
| Q1 24 | $17.5M | $-3.9M |
| Q4 25 | $49.9M | $20.4M | ||
| Q3 25 | $28.8M | $14.8M | ||
| Q2 25 | $35.5M | $-7.8M | ||
| Q1 25 | $28.1M | $5.2M | ||
| Q4 24 | $48.5M | $-840.0K | ||
| Q3 24 | $26.7M | $3.7M | ||
| Q2 24 | $16.0M | $13.5M | ||
| Q1 24 | $16.6M | $-5.5M |
| Q4 25 | 34.3% | 23.7% | ||
| Q3 25 | 21.0% | 15.9% | ||
| Q2 25 | 27.9% | -9.1% | ||
| Q1 25 | 23.0% | 7.9% | ||
| Q4 24 | 41.8% | -0.9% | ||
| Q3 24 | 24.5% | 5.8% | ||
| Q2 24 | 15.5% | 18.3% | ||
| Q1 24 | 16.6% | -6.6% |
| Q4 25 | 0.6% | 2.3% | ||
| Q3 25 | 1.0% | 3.6% | ||
| Q2 25 | 0.5% | 3.1% | ||
| Q1 25 | 0.5% | 5.4% | ||
| Q4 24 | 0.5% | 2.1% | ||
| Q3 24 | 0.9% | 3.4% | ||
| Q2 24 | 0.7% | 1.8% | ||
| Q1 24 | 0.8% | 2.0% |
| Q4 25 | — | 18.99× | ||
| Q3 25 | — | 6.05× | ||
| Q2 25 | — | -0.24× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.28× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FROG
Segment breakdown not available.
SND
| Sand | $85.1M | 99% |
| Smart Systems Segment | $980.0K | 1% |
