FROG
JFrog Ltd.
Is FROG Halal?
DevOps platform for software distribution with excellent compliance.
What You Should Know
JFrog provides software supply chain platform for DevOps. Business is entirely permissible, minimal debt, strong financial position. Its March 31, 2026 Form 10-Q reports $1,373.208 million of assets, no interest-bearing debt, $60.966 million of cash, $680.278 million of short-term investments, $113.708 million of receivables and $153.977 million of quarterly revenue. Debt/assets is 0.00%, liquidity/assets is 53.98%, receivables-plus-cash/assets is 12.72%, and disclosed interest and other income is 4.64% of revenue; the liquidity screen fails while software-supply-chain activity remains qualitative.
⚠️ Concerns
- •Large short-term-investment balance
- •Liquidity/assets exceeds the examined limits
- •Interest and other income
- •Self-managed and government deployments require review
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-14.
0 / 1,373.208
741.244 / 1,373.208
174.674 / 1,373.208
7.152 / 153.977
- Financial
- Fails
- Overall
- Fails
Liquidity/assets is 53.98%, above the examined 33.333% limit; debt/assets is 0.00%, receivables-plus-cash/assets is 12.72%, and disclosed income is 4.64% of revenue.
- Financial
- Fails
- Overall
- Fails
Liquidity/assets is 53.98%, above the examined MSCI 33.33% limit; debt/assets is 0.00% and receivables-plus-cash/assets is 12.72%.
- Financial
- Fails
- Overall
- Fails
Liquidity/assets is above the examined Malaysia 33% limit; this is a calculation against SAC ratios, not an official classification.
- Financial
- Not calculated
- Overall
- Fails
A properly licensed and reproducible historical market-cap series is not stored; the liquidity failure remains independently documented.
Business-activity disclosure
JFrog provides software supply-chain, artifact-management and DevOps services. The core software business is generally permissible, while customer end uses, government contracts and deployment contexts require qualitative review.
Limitation: The filing does not provide a universal prohibited-activity numerator across customers, products and deployment contexts.
Purification
JFrog discloses $7.152 million of interest and other income, but does not provide a complete prohibited-activity numerator; no definitive purification percentage is invented.
Inputs, assumptions and primary sources
- Amounts are USD millions from JFrog's March 31, 2026 Form 10-Q.
- Cash and cash equivalents are $60.966 million and short-term investments are $680.278 million. No interest-bearing debt is reported; operating lease liabilities are excluded.
- Accounts receivable, net are $113.708 million. Subscription revenue is $153.977 million for the quarter and disclosed interest and other income, net is $7.152 million.
- Software supply-chain and DevOps products are generally permissible, but customer end uses and self-managed deployments are not reduced to a universal prohibited-activity numerator.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
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