Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>JFrog's third-quarter 2025 financial results indicate a promising landscape with robust revenue growth, but also highlight some challenges and uncertainties.</li><li>The company reported total revenue of $136.9 million, representing a 26% increase compared to the same period last year.</li><li>This growth is supported by a significant rise in cloud revenue, which climbed 50% year-over-year to $63.4 million.</li></ul>

JFrog's third-quarter 2025 financial results indicate a promising landscape with robust revenue growth, but also highlight some challenges and uncertainties.The company reported total revenue of $136.9 million, representing a 26% increase compared to the same period last year.This growth is supported by a significant rise in cloud revenue, which climbed 50% year-over-year to $63.4 million.

Jfrog: How Its Cloud Strategy Is Quietly Becoming a Revenue Machine!

<ul><li>JFrog reported their financial results for the second quarter of 2025, highlighting continued growth and strategic execution.</li><li>Total revenue for the quarter was $127.2 million, marking a 23% increase year-over-year, with cloud revenue growing by 45% to $57.1 million.</li><li>This growth highlights JFrog's successful strategy of converting customers with usage above minimum commitments into annual contracts, reinforcing the predictability of revenue streams and strategic focus on cloud services.</li></ul>

JFrog reported their financial results for the second quarter of 2025, highlighting continued growth and strategic execution.Total revenue for the quarter was $127.2 million, marking a 23% increase year-over-year, with cloud revenue growing by 45% to $57.1 million.This growth highlights JFrog's successful strategy of converting customers with usage above minimum commitments into annual contracts, reinforcing the predictability of revenue streams and strategic focus on cloud services.

JFrog’s Artifactory Vision: Could It Become the World’s AI Model Registry?

<ul><li>JFrog's Q1 2025 financial results reflect both accomplishments and ongoing challenges.</li><li>The company reported total revenue of $122.4 million, up 22% year-over-year, driven significantly by strong cloud revenue which rose by 42% to $52.6 million.</li><li>This growth underscores JFrog's strategic focus on cloud solutions and enterprise migrations toward its SaaS offering.</li></ul>

JFrog's Q1 2025 financial results reflect both accomplishments and ongoing challenges.The company reported total revenue of $122.4 million, up 22% year-over-year, driven significantly by strong cloud revenue which rose by 42% to $52.6 million.This growth underscores JFrog's strategic focus on cloud solutions and enterprise migrations toward its SaaS offering.

JFrog: Expanding ML & AI Opportunities in the Platform To Shape the Future!

External reports (aggregated public sources), Value Investors Club

Value Investors Club (VIC)

External reports (aggregated public sources)

Value Investors Club

<ul><li>JFrog is a prominent player in the DevOps space, with its essential Artifactory product catering to large enterprises managing third-party code and dependencies.</li><li>Competition from larger players like GTLB and GitHub exists, but JFrog has maintained its position as a key player in the market.</li><li>Recent partnerships have helped solidify JFrog's standing and mitigate potential risks from competitors like Microsoft.</li></ul><p><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.</em></p>

JFrog is a prominent player in the DevOps space, with its essential Artifactory product catering to large enterprises managing third-party code and dependencies.Competition from larger players like GTLB and GitHub exists, but JFrog has maintained its position as a key player in the market.Recent partnerships have helped solidify JFrog's standing and mitigate potential risks from competitors like Microsoft.This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Covering IPOs, Healthcare and Technology Stocks

Andrei Zakharov

<ul>
<li>GitLab Inc. is a complete DevSecOps platform delivered as a single application that empowers organizations to maximize the overall return on software development.</li>
<li>In October 2021, one the largest all-remote companies in the world completed an initial public offering at $77/share, raising $801M at ~$11B valuation.</li>
<li>The stock peaked at $137 in 2021 and fell ~71% over the next 4 years. The underperformance was driven by investor concerns around slowing revenue growth, competition and AI monetization.</li>
</ul>


GitLab Inc. is a complete DevSecOps platform delivered as a single application that empowers organizations to maximize the overall return on software development.
In October 2021, one the largest all-remote companies in the world completed an initial public offering at $77/share, raising $801M at ~$11B valuation.
The stock peaked at $137 in 2021 and fell ~71% over the next 4 years. The underperformance was driven by investor concerns around slowing revenue growth, competition and AI monetization.


2026 High Conviction: GitLab Inc., Undervalued With Duo Agent Platform Growth Upside/M&A Optionality

United States

JFrog Ltd operates as a software development company. The Company provides technologies and tools for the everyday use and to increase the effectiveness. JFrog serves customers worldwide.

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JFrog (FROG US)

Jfrog: How Its Cloud Strategy Is Quietly Becoming a Revenue Machine!

JFrog's third-quarter 2025 financial results indicate a promising landscape with robust revenue growth, but also highlight some challenges and...

Baptista Research

JFrog’s Artifactory Vision: Could It Become the World’s AI Model Registry?

JFrog reported their financial results for the second quarter of 2025, highlighting continued growth and strategic execution. Total revenue for...

Baptista Research

JFrog: Expanding ML & AI Opportunities in the Platform To Shape the Future!

JFrog's Q1 2025 financial results reflect both accomplishments and ongoing challenges. The company reported total revenue of $122.4 million, up...

Baptista Research

Jfrog Ltd (FROG) - Tuesday, Oct 15, 2024

JFrog is a prominent player in the DevOps space, with its essential Artifactory product catering to large enterprises managing third-party code and...

Value Investors Club (VIC)

2026 High Conviction: GitLab Inc., Undervalued With Duo Agent Platform Growth Upside/M&A Optionality

GitLab Inc., the leading DevSecOps platform provider that delivers software faster and efficiently, is my 2026 high conviction idea in the U.S....

Andrei Zakharov

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