Financial Performance - Jamf achieved $333 million in Annual Recurring Revenue (ARR), representing a 38% growth[16] - The company experienced 39% revenue growth[16] - Subscription revenue accounted for 94% of the total revenue[16] - Non-GAAP Gross Margin was 81%[16] - Non-GAAP Operating Income Margin was 9%[16] - Trailing Twelve Months (TTM) Unlevered Free Cash Flow (uFCF) Margin was 26%[16] Market Position and Growth - Jamf manages over 232 million Apple devices[16] - The company has over 53000 active customers[16, 21] - The Total Addressable Market (TAM) is estimated at $18 billion[16, 84] - Dollar-Based Net Retention was 119%[16] Apple Ecosystem and Enterprise - 71% of college students surveyed prefer a Mac at work[24] - Apple has leading market share in North America, Oceania, the United Kingdom, Nordics, and Switzerland[24]

Company Overview and Market Position - Jamf is helping organizations succeed with Apple devices, serving over 57,000 active customers[16, 19] - The company estimates its total addressable market (TAM) at $18 billion[16] - Jamf has a strong presence among top companies, including 8 out of 10 Top Fortune 500 Technology companies and 23 out of 25 Most Valuable Global Brands[16] - Jamf is becoming the standard for Apple Enterprise Management, offering solutions for device management, user connectivity, and data protection[27, 32] Financial Performance and Growth - Jamf reported strong financial performance with 36% revenue growth and 47% ARR (Annual Recurring Revenue) growth[16, 99] - The company boasts a high subscription revenue of 95%[16, 99] - Non-GAAP Gross Margin is at 80%, and Non-GAAP Operating Income Margin is at 2%[16, 99] - TTM (Trailing Twelve Months) Unlevered Free Cash Flow (uFCF) Margin is at 24%[16, 99] Market Trends and Opportunities - Apple is gaining market share in the U S and beyond, with 89% of users willing to make a salary sacrifice for device choice[25] - Mac share in the enterprise increased from 17% in 2019 to 23% in 2020[60] - The company estimates Apple Enterprise Revenue at $40 billion in 2019[57]

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Core Viewpoint - Jamf's shares have experienced a significant decline this year, contrasting with a previous Buy rating assigned to the stock, which was based on the expectation of accelerating revenue growth [1] Company Analysis - Jamf is currently facing challenges in its stock performance, with a notable drop since the last analysis [1] - The company operates within the technology and software sectors, focusing on undercovered companies, which may present unique investment opportunities [1] Investment Perspective - The analysis emphasizes the importance of identifying asymmetric investment opportunities in small to mid-cap companies, aiming for market-beating returns [1]

Jamf (JAMF) 2025 Conference Summary Company Overview - Jamf is a 22-23 year old company originally focused on managing education devices, specifically Macs in the education sector. Currently, approximately 25% of its Annual Recurring Revenue (ARR) comes from education, with the remainder from commercial sectors [6][8]. - The company has expanded into the security space, with security now contributing about $160 million to ARR, showing significant growth [7]. Key Developments - Jamf has made strategic acquisitions, including Wandera in 2021, which enhanced its security offerings, and Identity Automation, acquired on April 1, 2025, marking its entry into identity management [6][8][31]. - The company has launched a combined management and security platform, offering products like Jamf for Mac, Jamf for mobile, and Jamf for K-12 [8][17]. Market Position and Strategy - Jamf operates in approximately 20 countries, with 85% of its international revenues generated through channel sales. In the U.S., about 55% of revenues come from channel sales [8]. - The company is focusing on mixed device environments, supporting both Apple and Android devices, which is expected to enhance its competitive position [12][37]. Sales Pipeline and Trends - The sales pipeline is increasingly driven by combined product offerings, leading to lower churn rates and higher adoption among customers [16][17]. - Mobile solutions are identified as a significant growth opportunity, particularly in sectors like transportation, healthcare, and retail [19][20]. Financial Guidance and Market Conditions - The company has noted an uncertain macroeconomic environment, with recent layoffs impacting overall demand. However, Q4 was strong, and the company maintained its full-year guidance despite some deal cancellations and delays [23][25][27]. - Net Revenue Retention (NRR) has stabilized around 104, with expectations for improvement as the security business grows [28][29]. International Growth Potential - Jamf has seen strong traction in international markets, particularly in APAC and EMEA, with expectations for continued growth driven by its core management products and security add-ons [48][49]. - The company is prioritizing regions with increasing Apple adoption, such as EMEA, while also exploring new markets [51]. Margin Expansion and Capital Allocation - Operating margin guidance for the year is set at 21%, with a goal of achieving a "rule of 40" run rate by the end of fiscal 2026 [55][56]. - The company plans to utilize its term loan and cash reserves for strategic investments, including paying down debt and funding acquisitions [62][63]. Pricing Strategy - Jamf has been cautious with price increases, focusing on providing value while embedding reasonable annual price increases in new platform products [60][61]. Conclusion - Jamf is positioned for growth through strategic acquisitions, a focus on mixed device management, and expanding its international presence. The company is navigating a dynamic market environment while maintaining a strong emphasis on security and identity management solutions.

Core Insights - Jamf showcased its latest platform advancements at the Jamf Nation Live event, focusing on innovations in AI, automation, compliance, and identity management for managing Apple devices at scale [1] AI Innovations - Jamf is developing AI tools to enhance IT operations, with the AI Assistant providing intelligent capabilities to improve productivity and decision-making [2] - New features in the AI Assistant include the search skill for quick inventory queries and the explain skill for simplifying mobile device management [9] Device Management Enhancements - Jamf announced the general availability of Blueprints, which supports Apple's Declarative Device Management framework, streamlining device configuration and management [3] - A beta release of Configuration Profiles within Blueprints offers a dynamic framework for faster and more efficient management of devices [4] User Empowerment and Security - The Self Service+ portal has been updated to enhance user autonomy and security, allowing users to manage apps and monitor device security from a single interface [5] - Enhanced identity management features in Self Service+ enable users to manage account details and initiate workflows while ensuring compliance [6] Security and Compliance Tools - New integrated security features are introduced to help organizations manage risks and simplify compliance as Mac adoption grows [7] - Compliance Benchmarks, based on Apple's macOS Security Compliance Project, automates endpoint hardening workflows, with hundreds of organizations already adopting it [8] - Proactive malware detection is now included in App Installers, enhancing software integrity and security [10] Admin Experience Improvements - The App Switcher feature in Jamf Account allows administrators to navigate the platform more seamlessly, improving workflow efficiency [11] - A forthcoming network relay service will enable secure access to critical services during onboarding without traditional VPN solutions [12]

Jamf (JAMF) FY Conference Summary Company Overview - Jamf is the leading vendor in the Apple device management space, established 22 years ago, initially focusing on education and now expanding into security and Android device management [3][4] - Subscription revenue constitutes approximately 98% of total revenues, with a global presence in 20 countries [4][5] - The company has experienced a 17% compound annual growth rate (CAGR) since 2021, with a net retention rate of 104% [5][14] Market Position and Strategy - Jamf holds an 11% market share in the education sector and a 2% market share in the commercial sector, with a total of 3% market share across its serviceable available market (SAM) [7][8][9] - The company primarily sells through channels, with 80-85% of international revenues and 55% of U.S. revenues coming from channel partners [10] - Security products now account for about 25% of annual recurring revenue (ARR), with a focus on expanding mobile device management capabilities [12][58] Financial Performance - In Q1, Jamf reported a 9% growth in ARR and a 10% increase in revenue, with an operating margin of 22% [15] - The company has increased its margins by approximately 1,100 basis points over the last two years, with expectations for an additional 500 basis point improvement [14][90] - Recent financial activities include a $215 million identity automation deal and a $400 million term loan to support operations and acquisitions [16][94] Competitive Landscape - Key competitors include Microsoft Intune, Workspace ONE (Omnissa), and smaller players like Kanji and Mozel [21][22] - Jamf maintains a strong competitive edge in Apple device management, with a focus on integrated management and security solutions [22][70] Macro Environment and Demand - The macroeconomic environment has led to some deal slippage and cancellations, particularly related to tariffs, but overall demand remains stable [28][30] - The company is cautious but maintains guidance for the year, observing normal pipeline activity [30] Relationship with Apple - Jamf has a strong partnership with Apple, collaborating closely on product development and market strategies [33][34] - The company benefits from Apple's international expansion and aims to increase penetration within existing Apple device ecosystems [39][41] Product Development and Future Opportunities - Jamf is launching new platforms, including Jamf for Mac and Jamf for mobile, with plans to enhance mobile management capabilities, including Android support [17][48] - The acquisition of Identity Automation is expected to enhance Jamf's offerings in dynamic identity management, particularly in education and other sectors [72][84] Operational Changes and Efficiency - Jamf has implemented a new ERP system to drive efficiencies and improve data insights, although some initial slowdowns in billing and collections were noted [86][88] - The company aims to achieve the "Rule of 40" by Q4 2026, focusing on profitable growth and margin expansion [90] Capital Allocation - Future capital allocation will focus on integrating recent acquisitions and maintaining strong cash generation, with a guidance of at least 75% growth in free cash flow for the year [95]

Jamf (JAMF) FY Conference Summary Company Overview - **Company**: Jamf (JAMF) - **Date of Conference**: May 13, 2025 - **Key Speakers**: John Stroessl (CEO), David Rudow (CFO) Industry Insights - **Macro Environment**: There is caution among customers regarding potential recession and elongated sales cycles, impacting procurement and hiring decisions [2][3][4] - **Customer Sentiment**: Customers are exhibiting caution but there is pent-up demand due to previous hesitations in spending [4][10] - **Sales Performance**: Q1 was described as normal with no significant follow-through from a strong Q4, but April results were stable [5][6][7] Financial Performance - **Sales Cycles**: Elongated sales cycles are noted, particularly in the tech sector, with some deals slipping but no significant impact in North America [7][10] - **Geographic Performance**: APAC remains strong, while the Americas showed weaker performance [14][17] - **Vertical Strengths**: Strength observed in healthcare and financial services, with cautious optimism in tech [16][17] Product and Market Strategy - **Product Portfolio**: Jamf offers tailored solutions for K-12 education and enterprise, focusing on device management and security [25][26] - **Android Expansion**: The company is expanding capabilities to support Android devices at customer request, while maintaining a focus on Apple products [29][30] - **Competitive Landscape**: Microsoft is a significant competitor, but Jamf maintains a strong partnership with them, integrating their solutions [36][37] Pricing and Revenue Strategy - **Pricing Strategy**: Jamf does not aim to be the lowest cost provider, focusing instead on the value of their solutions. Annual price increases are now part of their strategy [38][39] - **International Billing**: Introduction of local currency billing to improve competitiveness and win rates in international markets [74][75] Growth and Investment Outlook - **International Growth**: The company is experiencing faster growth outside the U.S., particularly in APAC and EMEA regions [60][68] - **Acquisition Impact**: The acquisition of Identity Automation is expected to contribute $15 million in revenue over three quarters, with a seasonal revenue cadence [84][86] - **Rule of 40 Objective**: The company aims to achieve the Rule of 40 by the end of 2026, prioritizing growth over margin expansion [90][92] Key Risks and Considerations - **Economic Uncertainty**: Potential recession and its impact on customer spending and hiring remain a concern [2][4] - **Sales Dynamics**: Variability in sales performance across different regions and sectors, with some markets showing slower adoption of certain products [71][73] Conclusion - Jamf is navigating a cautious macroeconomic environment while maintaining a focus on growth, product differentiation, and international expansion. The company is strategically positioned to leverage its strong partnerships and customer relationships to drive future growth.

Core Insights - Jamf has been recognized for its commitment to diversity and leadership in the IT channel, with four of its leaders named in CRN's Women of the Channel list for 2025 [1][2][4] Company Achievements - The honorees from Jamf include Emily Narkviroj, Kelli Meerschaert, Kat Garbis, and Melody Hillyer, who have contributed significantly to the company's channel-first approach [1][3] - Their initiatives include driving global growth through events, expanding the Jamf MSP Exchange program, and launching new solution offerings, which have strengthened partner relationships across various regions [3][4] Industry Recognition - The CRN Women of the Channel list highlights the accomplishments of women in the IT channel, selected based on their expertise and contributions to innovation and growth [2][4] - The recognition reflects Jamf's dedication to fostering diverse leadership and innovation within the channel [4]

Core Insights - Jamf Holding (JAMF) reported revenue of $167.62 million for the quarter ended March 2025, reflecting a year-over-year increase of 10.2% and surpassing the Zacks Consensus Estimate by 0.77% [1] - The company's EPS for the quarter was $0.22, up from $0.14 in the same quarter last year, exceeding the consensus EPS estimate of $0.21 by 4.76% [1] Financial Performance Metrics - Annual Recurring Revenue (ARR) was reported at $657.90 million, slightly below the average estimate of $658.84 million from three analysts [4] - Subscription revenue from SaaS and support and maintenance totaled $155.63 million, which is lower than the average estimate of $157.64 million but shows a year-over-year increase of 9.3% [4] - On-premise subscription revenue reached $8.60 million, significantly exceeding the average estimate of $5.30 million, marking a year-over-year growth of 44.5% [4] - Non-subscription revenue was reported at $3.40 million, slightly above the average estimate of $3.38 million [4] - Total subscription revenue was $164.22 million, surpassing the average estimate of $162.94 million, with a year-over-year increase of 10.7% [4] - Professional services non-subscription revenue was $3.40 million, marginally above the average estimate of $3.37 million, but reflecting a year-over-year decline of 8.3% [4] Stock Performance - Over the past month, shares of Jamf Holding have returned +7.9%, compared to the Zacks S&P 500 composite's +11.5% change [3] - The stock currently holds a Zacks Rank 5 (Strong Sell), indicating potential underperformance relative to the broader market in the near term [3]