Jfrog Ltd at Barclays Global Technology Conference Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Eamon Coughlin - Barclays Services Corp - Analyst : I guess just unpacking -- there's a lot to unpack there. But as you think about like the right pricing model for some of the influx of demand that you're seeing from your customer base, like is consumption the right pricing model? Is it more of like a -- I don't know, there's like a server model that you may move to for across your platform. But I guess how do you think about that going forward?

Question: Eamon Coughlin - Barclays Services Corp - Analyst : No, absolutely. I think over time, especially the last three quarters, you've seen that increased commitment from some of the overages from consumption. Can you just walk through maybe how you saw those overages in 1Q, 2Q, 3Q, how they played throughout the year, and how they might impact the fourth quarter?

Question: Eamon Coughlin - Barclays Services Corp - Analyst : Let's take a step back at something you said earlier, just understanding like why JFrog has a right to win in security. And then maybe some of the recent news with the NPM attack. Let me just dive into the first question and then some of the takeaways that you have from the recent NPM attack.

Question: Eamon Coughlin - Barclays Services Corp - Analyst : Yeah, and that's incredible. I mean when you're thinking about some of these customer base, like, are they using security today for their binary management? Or are they not using any tool at all? Or like -- LSEG STREETEVENTS | www.lseg.com | Contact Us consent of LSEG. 'LSEG' and the LSEG logo are registered trademarks of LSEG and its affiliated companies. DECEMBER 10, 2025 / 9:20PM, FROG.OQ - Jfrog Ltd at Barclays Global Technology Conference

Question: Eamon Coughlin - Barclays Services Corp - Analyst : Are you displacing another tool that maybe is not strong enough to handle the NPM attack?

Question: Eamon Coughlin - Barclays Services Corp - Analyst : Yeah. We recently hosted a call with the CEO of Sonar, a code quality tool. Is that -- I mean, obviously there's a keen difference between like code security and code quality. Would that ever be an interesting aspect of expansion for JFrog?

Question: Eamon Coughlin - Barclays Services Corp - Analyst : Yeah. No, actually, I was there, too, and that's the thing I heard. I guess just going back to swap up. There was a time of announcements at the conference, like definitely one of the more exciting conferences and swamp ups in JFrog's history. Maybe can you just walk through some of those announcements? So JFrog Fly, I thought was really interesting and diving to the SMB customer base, which is a little bit absent from enterprise Q historically and then maybe AppTrust and then AI catalog. Maybe what could that drive in 2026?Obviously, still early on, in this customer journey with some of these products, but how do we think about some of the motions with each of those products?

Question: Eamon Coughlin - Barclays Services Corp - Analyst : I guess, to my knowledge there's no other company innovating on those types of products today. Like how should we think about the initial pipeline generation that you've seen? And then, particularly for AppTrust and AI catalog, how should we think about the pricing and monetization aspect of that?

Question: Eamon Coughlin - Barclays Services Corp - Analyst : Got it. Yes. I mean I think as you think about the future, maybe the next 18 to 24 months, how might that growth levers look like compared to maybe the first three months of this year? They were primarily driven by, I guess, security commitment above -- use above your commitment and then maybe some larger deals. Like any change in momentum that you that you expect for?

Question: Eamon Coughlin - Barclays Services Corp - Analyst : Is that platform has been like a key driver of the strong retention that you're not just the binary management product security aspect is scanning, there's vulnerability management. Like is that the key aspect, the architectural moat that I think we talk a lot with JFrog compared to something like a lab package or even like the package of offering that GitHub has or even like a Sonar type?

Question: Eamon Coughlin - Barclays Services Corp - Analyst : Story for JFrog in the last 12 months. I guess just thinking about some of the recent momentum with like becoming a repository of record. I think you mentioned this week like three out of five of the big native companies, customers of JFrog. Can you just talk a little bit about that sale, what they're adopting initially. I know that one of the customers doubled their license with JFrog in 2Q after signing in 1Q. I guess, just talk about that sale a little bit.

Question: Eamon Coughlin - Barclays Services Corp - Analyst : A few minutes we have left, the upcoming 2026 guide, recently got 4Q. Can you just help us understand maybe how you're thinking about with all this momentum, how you're thinking about your guidance philosophy? I know your guidance has changed over the last six quarters to not guide above use commitments. And then that includes some of the large cloud migrations Will that continue? Any color maybe you can provide for that coming guide?

Question: Eamon Coughlin - Barclays Services Corp - Analyst : Awesome. Jeff, thanks for being here. As Shlomi said, may the frog be with you. Thank you. LSEG STREETEVENTS | www.lseg.com | Contact Us consent of LSEG. 'LSEG' and the LSEG logo are registered trademarks of LSEG and its affiliated companies. DECEMBER 10, 2025 / 9:20PM, FROG.OQ - Jfrog Ltd at Barclays Global Technology Conference