FROG - Comprehensive Filing Intelligence

FY•10-K•Filed Feb 13, 2026
6.0/10
Filing Health:GOOD

Solid fundamentals with minor concerns to monitor

Executive Summary

Revenue mix is shifting towards SaaS, which is generally a positive trend for recurring revenue.. Strong growth in Enterprise Plus subscriptions indicates demand for comprehensive solutions.. Significant non-cancelable purchase obligations totaling $310.5 million through 2030.. Increased revenue contribution from Enterprise Plus subscription.

Top Concerns

  • !Amortization of deferred contract acquisition costs increased significantly year-over-year.
  • !Stock-based compensation is a substantial expense relative to revenue.
  • !Significant non-cancelable purchase obligations totaling $310.5 million through 2030.
  • !Potential contingent liability of $6 million related to IP transfer restrictions.
  • !Competition and Market Dynamics (medium)

Top Positives

  • +Revenue mix is shifting towards SaaS, which is generally a positive trend for recurring revenue.
  • +Strong growth in Enterprise Plus subscriptions indicates demand for comprehensive solutions.

Analysis Dimensions

Our 5-pass AI analysis examines this filing across multiple dimensions. Each dimension score is derived from direct analysis of SEC filing text.

Narrative Intelligence

4.0/10

Management tone is confidently optimistic.

Full analysis includes: tone changes vs prior quarter, margin driver breakdown, forward guidance analysis, strategic priorities.

Accounting Quality

6.0/10

Earnings quality shows aggressive accounting practices.

Full analysis includes: reserve and allowance changes, non-recurring item analysis, stock-based compensation impact, disclosure concerns.

Hidden Liabilities

Off-balance sheet risk is low with $316,460,000 in identified exposure.

Full analysis includes: cloud and purchase commitments, VIE/SPE exposure, covenant compliance status, refinancing risk assessment.

Risk Landscape

6.0/10

Overall risk profile shows competition and market dynamics as primary concern.

Full analysis includes: 8 risk categories with severity, new vs escalated risks, management response assessment, risk trend analysis.

Segment Performance

7.0/10

Segment health analysis.

Full analysis includes: segment-by-segment revenue breakdown, geographic concentration risk, customer concentration analysis, segment margin trends.