05:01 PM EDT, 05/09/2024 (MT Newswires) -- JFrog ( FROG ) reported Q1 non-GAAP earnings late Thursday of $0.16 per diluted share, up from $0.06 a year earlier.

Analysts polled by Capital IQ expected $0.14.

Subscription revenue for the quarter ended March 31 was $100.3 million, up from $79.8 million a year earlier.

Analysts surveyed by Capital IQ expected $98.6 million.

The company said it expects Q2 non-GAAP EPS between $0.13 and $0.15 and revenue between $103 million and $104 million. Analysts polled by Capital IQ expect $0.14 and $103.1 million.

The company raised its fiscal 2024 non-GAAP diluted EPS guidance to between $0.59 and $0.61 from $0.58 and $0.60 previously. Analysts surveyed by Capital IQ expect $0.60. JFrog ( FROG ) also lifted its 2024 revenue outlook to between $425.5 million and $429.5 million from $424 million and $428 million previously. Analysts polled by Capital IQ expect $426.9 million.

Shares of the company were down 8.6% in after-hours activity.

Price: 37.12, Change: -3.50, Percent Change: -8.62