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Side-by-side financial comparison of JFrog Ltd (FROG) and Vericel Corp (VCEL). Click either name above to swap in a different company.
JFrog Ltd is the larger business by last-quarter revenue ($145.3M vs $92.9M, roughly 1.6× Vericel Corp). Vericel Corp runs the higher net margin — 25.0% vs -10.5%, a 35.5% gap on every dollar of revenue. On growth, JFrog Ltd posted the faster year-over-year revenue change (25.2% vs 23.3%). JFrog Ltd produced more free cash flow last quarter ($49.9M vs $12.8M). Over the past eight quarters, Vericel Corp's revenue compounded faster (34.6% CAGR vs 20.4%).
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.
Vericel Corporation is a publicly traded American biopharmaceutical company which was known prior to October 2014 as Aastrom Bio. Aastrom Bio was formed in 1989 in Ann Arbor, Michigan.
FROG vs VCEL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $145.3M | $92.9M |
| Net Profit | $-15.2M | $23.2M |
| Gross Margin | 77.9% | 78.7% |
| Operating Margin | -14.7% | 24.1% |
| Net Margin | -10.5% | 25.0% |
| Revenue YoY | 25.2% | 23.3% |
| Net Profit YoY | 34.4% | 17.3% |
| EPS (diluted) | $-0.13 | $0.46 |
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 | $92.9M | ||
| Q3 25 | $136.9M | $67.5M | ||
| Q2 25 | $127.2M | $63.2M | ||
| Q1 25 | $122.4M | $52.6M | ||
| Q4 24 | $116.1M | $75.4M | ||
| Q3 24 | $109.1M | $57.9M | ||
| Q2 24 | $103.0M | $52.7M | ||
| Q1 24 | $100.3M | $51.3M |
| Q4 25 | $-15.2M | $23.2M | ||
| Q3 25 | $-16.4M | $5.1M | ||
| Q2 25 | $-21.7M | $-553.0K | ||
| Q1 25 | $-18.5M | $-11.2M | ||
| Q4 24 | $-23.2M | $19.8M | ||
| Q3 24 | $-22.9M | $-901.0K | ||
| Q2 24 | $-14.3M | $-4.7M | ||
| Q1 24 | $-8.8M | $-3.9M |
| Q4 25 | 77.9% | 78.7% | ||
| Q3 25 | 77.4% | 73.5% | ||
| Q2 25 | 76.3% | 73.7% | ||
| Q1 25 | 75.3% | 69.0% | ||
| Q4 24 | 75.4% | 77.6% | ||
| Q3 24 | 75.0% | 71.9% | ||
| Q2 24 | 78.8% | 69.5% | ||
| Q1 24 | 79.5% | 68.9% |
| Q4 25 | -14.7% | 24.1% | ||
| Q3 25 | -15.8% | 5.1% | ||
| Q2 25 | -20.4% | -3.2% | ||
| Q1 25 | -18.8% | -24.3% | ||
| Q4 24 | -21.9% | 24.5% | ||
| Q3 24 | -27.4% | -4.3% | ||
| Q2 24 | -18.6% | -11.5% | ||
| Q1 24 | -16.6% | -10.7% |
| Q4 25 | -10.5% | 25.0% | ||
| Q3 25 | -12.0% | 7.5% | ||
| Q2 25 | -17.0% | -0.9% | ||
| Q1 25 | -15.1% | -21.4% | ||
| Q4 24 | -20.0% | 26.3% | ||
| Q3 24 | -21.0% | -1.6% | ||
| Q2 24 | -13.9% | -8.9% | ||
| Q1 24 | -8.8% | -7.5% |
| Q4 25 | $-0.13 | $0.46 | ||
| Q3 25 | $-0.14 | $0.10 | ||
| Q2 25 | $-0.19 | $-0.01 | ||
| Q1 25 | $-0.16 | $-0.23 | ||
| Q4 24 | $-0.21 | $0.40 | ||
| Q3 24 | $-0.21 | $-0.02 | ||
| Q2 24 | $-0.13 | $-0.10 | ||
| Q1 24 | $-0.08 | $-0.08 |
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 | $137.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $887.4M | $354.6M |
| Total Assets | $1.3B | $488.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $704.4M | $137.5M | ||
| Q3 25 | $651.1M | $135.4M | ||
| Q2 25 | $611.7M | $116.9M | ||
| Q1 25 | $563.5M | $112.9M | ||
| Q4 24 | $522.0M | $116.2M | ||
| Q3 24 | $467.8M | $101.7M | ||
| Q2 24 | $591.3M | $102.5M | ||
| Q1 24 | $579.6M | $110.6M |
| Q4 25 | $887.4M | $354.6M | ||
| Q3 25 | $859.4M | $321.9M | ||
| Q2 25 | $826.5M | $306.8M | ||
| Q1 25 | $800.0M | $295.5M | ||
| Q4 24 | $773.5M | $292.0M | ||
| Q3 24 | $756.2M | $257.5M | ||
| Q2 24 | $721.4M | $243.0M | ||
| Q1 24 | $707.8M | $233.9M |
| Q4 25 | $1.3B | $488.0M | ||
| Q3 25 | $1.3B | $453.3M | ||
| Q2 25 | $1.2B | $435.6M | ||
| Q1 25 | $1.2B | $424.6M | ||
| Q4 24 | $1.1B | $432.7M | ||
| Q3 24 | $1.1B | $390.4M | ||
| Q2 24 | $1.0B | $376.8M | ||
| Q1 24 | $997.1M | $356.7M |
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 | $15.0M |
| Free Cash FlowOCF − Capex | $49.9M | $12.8M |
| FCF MarginFCF / Revenue | 34.3% | 13.8% |
| Capex IntensityCapex / Revenue | 0.6% | 2.4% |
| Cash ConversionOCF / Net Profit | — | 0.65× |
| TTM Free Cash FlowTrailing 4 quarters | $142.3M | $24.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $50.7M | $15.0M | ||
| Q3 25 | $30.2M | $22.1M | ||
| Q2 25 | $36.1M | $8.2M | ||
| Q1 25 | $28.8M | $6.6M | ||
| Q4 24 | $49.1M | $22.2M | ||
| Q3 24 | $27.6M | $10.2M | ||
| Q2 24 | $16.7M | $18.5M | ||
| Q1 24 | $17.5M | $7.2M |
| Q4 25 | $49.9M | $12.8M | ||
| Q3 25 | $28.8M | $19.5M | ||
| Q2 25 | $35.5M | $81.0K | ||
| Q1 25 | $28.1M | $-7.6M | ||
| Q4 24 | $48.5M | $8.5M | ||
| Q3 24 | $26.7M | $-9.2M | ||
| Q2 24 | $16.0M | $1.8M | ||
| Q1 24 | $16.6M | $-6.8M |
| Q4 25 | 34.3% | 13.8% | ||
| Q3 25 | 21.0% | 28.8% | ||
| Q2 25 | 27.9% | 0.1% | ||
| Q1 25 | 23.0% | -14.5% | ||
| Q4 24 | 41.8% | 11.2% | ||
| Q3 24 | 24.5% | -15.9% | ||
| Q2 24 | 15.5% | 3.4% | ||
| Q1 24 | 16.6% | -13.3% |
| Q4 25 | 0.6% | 2.4% | ||
| Q3 25 | 1.0% | 3.9% | ||
| Q2 25 | 0.5% | 12.9% | ||
| Q1 25 | 0.5% | 27.0% | ||
| Q4 24 | 0.5% | 18.3% | ||
| Q3 24 | 0.9% | 33.5% | ||
| Q2 24 | 0.7% | 31.8% | ||
| Q1 24 | 0.8% | 27.3% |
| Q4 25 | — | 0.65× | ||
| Q3 25 | — | 4.35× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.12× | ||
| 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.
VCEL
| MACI Implants And Kits | $84.1M | 90% |
| Other | $8.8M | 10% |
