Another Israeli on Wall Street, the software company JFROG (NYSE: JFROG) from Netanya, opens its first day on the Nasdaq with a jump of tens of percent. , Is now trading at $ 66.
The company planned to raise at a price of $ 33 to $ 37 per share, raising expectations for a range of $ 39 to $ 41 per share. The stock was issued at a price of $ 44, reflecting a market capitalization of $ 4 billion. Jaiprog issued 8 million shares, raising $ 352 million. Underwriters have an additional 1.7 million shares in the exercise options, assuming that the underwriters exercise the options under their control, the company will raise an additional $ 76 million.
According to the company’s prospectus, from 2019, its revenues amounted to about $ 105 million, an increase of 65% compared to 2018. In the first half of 2020, revenues jumped by about 50% compared to the same period last year, and amounted to $ 69.3 million.
Jaiprog is still at a loss, but its losses have been significantly reduced over the years. In 2019, the company reported a loss of about $ 5.4 million, for comparison, in 2018 it reported a loss of $ 26 million. In the first half of 2020, the company reported a loss of only $ 400,000, compared to $ 2.1 million in the same period last year.
The company, founded in 2008 by Shlomi Ben Haim, Freddie Simon and Yoav Landman, develops products that allow software updates to be released frequently, automatically. Jaiprog’s main product is Artifactory, a solution for managing open source libraries.
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