Core Insights - Jamf has completed the acquisition of Identity Automation, enhancing its capabilities in identity and access management for dynamic environments like education and healthcare [1][2] - The acquisition adds nearly 90 employees to Jamf and introduces a key product differentiator: dynamic identity management, which adjusts access and security policies in real time [2][3] - This move positions Jamf as a unique provider of comprehensive Apple-focused solutions for device management and security, integrating its expertise with Identity Automation's technology [3] Company Overview - Jamf aims to simplify work by managing and securing Apple experiences that users love and organizations trust, being the only company offering a complete management solution for Apple-first environments [4] - Identity Automation specializes in IAM solutions for educational institutions, providing security capabilities and automation to enhance learning environments [5] Strategic Implications - The integration of Identity Automation's adaptive identity technology with Jamf's endpoint management is expected to streamline user experiences within a single platform [3] - The acquisition is anticipated to provide organizations with a more efficient way to manage identity and access, thereby increasing productivity in dynamic settings [4]

MINNEAPOLIS, March 25, 2025 (GLOBE NEWSWIRE) -- Jamf (NASDAQ: JAMF), the standard in managing and securing Apple at work, has been honored by CRN®, a brand of The Channel Company, with a 5-Star Award in the 2025 CRN Partner Program Guide. This annual guide is an essential resource for solution providers seeking vendor partner programs that match their business goals and deliver high partner value. The extensive support and resources technology vendors offer through their partner programs are a critical cons ...

Identity Automation adds dynamic and automated role-based access capability to Jamf’s endpoint management and security platformMINNEAPOLIS, March 03, 2025 (GLOBE NEWSWIRE) -- Jamf (NASDAQ: JAMF), the standard in managing and securing Apple at work, today announced it signed a definitive agreement to acquire Identity Automation. Identity Automation is a dynamic identity and access management (IAM) platform for industries that are defined by frequent role adjustments, such as education and healthcare. Identit ...

Core Insights - Jamf Holding (JAMF) reported revenue of $162.97 million for Q4 2024, marking an 8.2% year-over-year increase and a surprise of +0.34% over the Zacks Consensus Estimate of $162.43 million [1] - The company's EPS for the same period was $0.17, compared to $0.13 a year ago, resulting in an EPS surprise of +13.33% against the consensus estimate of $0.15 [1] Financial Performance Metrics - Annual Recurring Revenue (ARR) was reported at $646 million, slightly below the estimated $653.59 million [4] - Subscription revenue from SaaS and support and maintenance was $152.60 million, compared to the estimated $153.80 million, reflecting an 8.8% increase year-over-year [4] - On-premise subscription revenue reached $7.14 million, exceeding the estimated $5.57 million, with a year-over-year growth of 12.2% [4] - Non-subscription revenue from perpetual licenses was $0.07 million, significantly lower than the estimated $0.09 million, showing a year-over-year decline of 71.7% [4] - Professional services revenue was $3.17 million, slightly above the estimated $3.05 million, but down 15.1% year-over-year [4] - Total subscription revenue was $159.74 million, marginally above the estimated $159.37 million, with an 8.9% increase compared to the previous year [4] - Non-subscription revenue totaled $3.23 million, exceeding the estimated $3.04 million [4] Stock Performance - Jamf Holding's shares have returned -4.7% over the past month, compared to a -2.2% change in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [3]

Financial Data and Key Metrics Changes - Jamf achieved year-over-year revenue growth of 8% in Q4 2024, with a full year revenue growth of 12% [7][21] - Non-GAAP operating income margin for Q4 was 18%, exceeding the high end of the outlook, while the full year margin was 16%, reflecting an 800 basis point improvement from 2023 [7][22] - Annual Recurring Revenue (ARR) grew 10% year-over-year to $646 million [9][29] - The net retention rate decreased slightly to 104% in Q4 compared to Q3 [22][94] Business Line Data and Key Metrics Changes - Security ARR grew 17% year-over-year to $156 million, representing 24% of total ARR [10][29] - Mobile solutions saw significant growth, particularly in the tech and transportation sectors, with notable expansions from major clients [13][86] - The core Mac business remained strong, especially in the tech space, with increased adoption among customers [10][121] Market Data and Key Metrics Changes - Revenue from international markets grew 17%, accounting for over a third of total revenue [16] - Jamf was selected by the Ministry of Education in Singapore for all student iPads, indicating strong demand in the education sector [17] - The company is focusing on strategic geographies outside the U.S. to drive future growth [16][17] Company Strategy and Development Direction - Jamf aims to achieve the "Rule of 40" by balancing revenue growth and unlevered free cash flow margin [19][35] - The company is investing in scalability and efficiency initiatives, including a new partner program launched in Q3 2024 [19][18] - There is a strong emphasis on cross-selling mobile and security solutions to enhance growth [27] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding stability in the tech and education sectors, with expectations for increased spending in 2025 [42][124] - The company anticipates continued growth in mobile and security solutions, driven by increasing demand [46][58] - Management highlighted the importance of adapting to market conditions and customer needs as hiring trends improve [78][124] Other Important Information - The trailing 12-month unlevered free cash flow margin improved to 12%, with a growth of over 30% in unlevered free cash flow dollars compared to the prior year [24] - The company experienced delays in billings and collections due to a comprehensive systems update, which is expected to benefit 2025 [24][100] Q&A Session Summary Question: Trends in tech and education sectors - Management noted signs of stability in Q4, with growth in the tech space, particularly in mobile and security solutions [40][42] Question: Impact of data reclassification on security growth - The ARR adjustment impacted security growth by about 2%, but demand remains strong [43][44] Question: Guidance for achieving Rule of 40 - Management confirmed the goal to exit 2026 at a Rule of 40 run rate, focusing on revenue growth and margin expansion [55] Question: Competitive dynamics and share shift - Management indicated consistent competitive dynamics, with ongoing customer transitions from competitors due to innovation concerns [62] Question: Outlook for hiring trends in 2025 - Management expressed cautious optimism about hiring trends, noting some uptick in Q4 but not ready to declare a definitive trend [124] Question: Role of Azure channel in growth - Management highlighted early success with Azure, drawing on lessons from the AWS partnership to enhance growth [75] Question: Expectations for Mac growth and sluggishness - Management reported no significant sluggishness in Mac growth, with continued adoption expected as companies provide device choices [121] Question: Future roadmap for added security capabilities - Management emphasized the importance of security in winning contracts, particularly in education, and the role of channel partners in delivering solutions [114]

Investor Presentation Q4 FY2024 Safe Harbor Unless otherwise specified, financial information and other data in this presentation is presented as of December 31, 2024. Jamf's historical results are not necessarily indicative of the results that may be expected in the future. Forward-Looking Statements This presentation contains "forward-looking statements" within the meaning of federal securities laws, which statements involve substantial risks and uncertainties. Forward-looking statements generally relate ...

Financial Data and Key Metrics Changes - Jamf achieved Q4 revenue growth of 8% year over year, with a full year revenue growth of 12% [6][18] - Non-GAAP operating income margin for Q4 was 18%, exceeding the high end of the outlook, while the full year margin was 16%, reflecting an 800 basis point improvement from 2023 [6][20] - Annual recurring revenue (ARR) grew 10% year over year to $646 million [7][23] - Gross retention rates remained consistent with historical levels, while net retention rate decreased slightly to 104% in Q4 [19][73] Business Line Data and Key Metrics Changes - Security ARR grew 17% year over year to $156 million, representing 24% of Jamf's total ARR [9][23] - Mobile solutions saw significant growth, particularly in sectors like transportation and education, with notable expansions in airline partnerships [10][66] - International revenue grew 17%, accounting for over a third of total revenue, with expectations for continued growth in strategic geographies [12][13] Market Data and Key Metrics Changes - The tech sector showed signs of stability, with growth in Mac and mobile solutions, particularly in the education sector [29][31] - Demand for security solutions is increasing, with organizations recognizing the need for integrated management and security [35][42] Company Strategy and Development Direction - Jamf aims to achieve a "Rule of 40" by focusing on profitable growth and margin expansion, with strategic investments in efficiency and scalability [15][26] - The company is enhancing its partner program to drive more business through channel partners, which has shown early positive results [14][57] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding hiring trends and market conditions, noting a slight uptick in Q4 but emphasizing that one quarter does not establish a trend [98] - The outlook for 2025 includes expected revenue growth of 8.1% at the midpoint, with a focus on improving operating margins and unlevered free cash flow [25][26] Other Important Information - Jamf's platform supports approximately 33.2 million devices and 76,500 customers, with a focus on cross-selling mobile and security solutions [21][22] - The company underwent a comprehensive systems update that impacted billing and collections, but is expected to benefit future cash flow [21][78] Q&A Session Summary Question: Trends in tech and education sectors - Management noted signs of stability in Q4, with growth in Mac and mobile solutions, particularly in education and tech sectors [29][31] Question: Impact of data reclassification on security growth - The ARR adjustment impacted security growth by about 2%, with demand for security solutions remaining strong [33][35] Question: Guidance for achieving Rule of 40 - Management indicated that achieving Rule of 40 will come from revenue growth and continued margin expansion [40][41] Question: Competitive dynamics and share shift - Management reported consistent competitive dynamics, with ongoing customer transitions from competitors due to innovation concerns [46][48] Question: Expectations for hiring trends in 2025 - Management expressed cautious optimism about hiring trends, noting a slight uptick in Q4 but refraining from declaring a definitive trend [98] Question: Role of Azure channel and learnings from AWS - Management highlighted early success with Azure, drawing parallels to the initial success with AWS and emphasizing strong collaboration with Microsoft [56][57] Question: Sluggishness in Mac growth - Management reported no significant sluggishness in Mac growth, with a focus on buyer confidence and device lifecycle management [95][96]

Customer Base and Market Presence - As of December 31, 2024, the company has over 76,500 customers deploying 33.2 million devices across more than 100 countries and territories[24] - As of December 31, 2024, the company had over 76,500 customers, with more than 16,000 acquired in the last three years, including 8 of the largest 10 Fortune 500 companies[79] - For the year ended December 31, 2024, approximately 36% of new subscriptions originated outside of North America, indicating significant international growth opportunities[74] - The company’s customer base is highly diversified, with no single end customer representing more than 1% of Annual Recurring Revenue (ARR)[79] Financial Performance - The company's total revenue for the year ended December 31, 2024, was $627.4 million[439] - Total revenue for 2024 reached $627,399,000, an increase of 11.9% from $560,571,000 in 2023[453] - Subscription revenue grew to $613,591,000, up 13.0% from $543,019,000 in the previous year[453] - Net loss for 2024 was $68,455,000, a reduction of 37.9% compared to a net loss of $110,086,000 in 2023[453] - Gross profit increased to $486,071,000, representing a 11.9% rise from $434,512,000 in 2023[453] - Total current assets rose to $424,657,000, up 5.9% from $402,634,000 in 2023[451] - Total liabilities decreased to $864,246,000, down 0.9% from $872,105,000 in 2023[451] - Cash and cash equivalents decreased to $224,680,000 from $243,576,000, a decline of 7.7%[451] - The net loss for the year ended December 31, 2024, was $68.455 million, a significant improvement from a net loss of $110.086 million in 2023 and $141.301 million in 2022[462] Research and Development - Approximately 26% of the global employee base is dedicated to research and development, with teams organized to support product innovation and same-day support for Apple[88] - Research and development expenses increased to $138,961,000, up 3.8% from $134,422,000 in 2023[453] - The company owned 14 issued U.S. patents and 29 issued patents in foreign jurisdictions as of December 31, 2024[90] - The company’s research and development teams are based in multiple locations, including Minneapolis, MN, and Tel Aviv, Israel[88] Customer Satisfaction and Experience - The company achieved a Net Promoter Score of 56 in 2024, significantly exceeding industry averages[25] - The company maintained a high customer satisfaction score of 9.34 out of 10 in 2024 based on surveys[83] - The company focuses on enhancing the user experience by providing seamless device deployment and management tailored to Apple products[47] Product and Service Offerings - The company offers a unique Apple-first platform that combines management, identity, and security to protect devices and sensitive company data[45] - Jamf Pro serves a large portion of the customer base, providing robust Apple ecosystem management for SMBs to larger enterprises[46] - Jamf Now allows SMBs to manage Apple devices with a pay-as-you-go model, facilitating remote configuration and security enforcement[50] - Jamf Protect provides robust endpoint security for both Mac and mobile devices, enhancing visibility and compliance while defending against modern threats[55] - Jamf Connect simplifies authentication with single sign-on across devices, enhancing productivity without compromising security[53] - The company offers a bundled solution through the Jamf Business Plan, simplifying the purchase process for commercial customers with user-based pricing[57] - Jamf's education apps, including Jamf Teacher, Student, and Parent, enhance user engagement and productivity within educational institutions[60] Market Strategy and Growth - Jamf's global Total Addressable Market is estimated to be approximately $49 billion in 2024, covering Apple devices and potential non-Apple devices requiring management and security solutions[68] - The company has a large network of approximately 910 channel partners globally, expanding market coverage and sales capacity[73] - The company’s marketing strategy focuses on building brand recognition and generating demand through various channels, including content marketing and community engagement[76] Financial Management and Risks - A hypothetical 10% change in foreign currency exchange rates would impact the company's operating loss by approximately $14.7 million[425] - The company has not entered into any hedging arrangements for foreign currency risk[425] - The company maintains effective internal control over financial reporting as of December 31, 2024[442] - The company does not have material exposure to changes in the fair value of its investment portfolio due to interest rates[426] - The company has not reported any significant interest exposure with respect to its 2024 Credit Agreement[427] Compliance and Governance - The company’s compliance with governmental regulations did not have a material effect on its capital expenditures, earnings, or competitive position for the year ended December 31, 2024[106] - The Company adopted ASU No. 2023-07 for the fiscal year ended December 31, 2024, which requires additional disclosures regarding segment expenses, but it did not impact the consolidated financial statements[520] Stock and Equity - The company repurchased 2,000,000 shares of common stock at $17.52 per share for a total of $35.4 million in May 2024[485] - Total stockholders' equity slightly decreased to $715,983,000 from $717,547,000 in 2023[451] Other Financial Metrics - The company recognized revenue from professional services of $13.6 million in 2024, down from $16.3 million in 2023[503] - Contract liabilities at the end of 2024 were $385.7 million, an increase from $373.4 million at the end of 2023[505] - Remaining performance obligations as of December 31, 2024, totaled $552.6 million, with 70% expected to be recognized as revenue within the next 12 months[507]

Revenue Growth - Q4 total revenue increased by 8% year-over-year to $163.0 million; fiscal year total revenue grew by 12% to $627.4 million[7] - Total revenue for Q4 2024 reached $162.974 million, a 8.7% increase from $150.645 million in Q4 2023[27] - Total revenue for 2024 reached $627,399, up 12% from $560,571 in 2023, driven by a 10% increase in SaaS subscription and support revenue[35] - For Q1 2025, total revenue is expected to be between $165.5 million and $167.5 million, with non-GAAP operating income projected between $35.5 million and $37.5 million[12] - For the full year 2025, total revenue is anticipated to be between $675.5 million and $680.5 million, with non-GAAP operating income expected between $142.5 million and $146.5 million[12] Annual Recurring Revenue (ARR) - ARR as of December 31, 2024, reached $646.0 million, reflecting a 10% year-over-year growth[7] - Annual Recurring Revenue (ARR) increased to $646.0 million in 2024, a growth of 9.8% from $588.6 million in 2023[38] - Security ARR reached $156 million as of December 31, 2024, representing 17% year-over-year growth and 24% of total ARR[12] Profitability and Loss - GAAP operating loss for FY24 was $69.1 million, or (11)% of total revenue, an improvement from a loss of $115.2 million, or (21)% in FY23[7] - Non-GAAP operating income for FY24 was $103.1 million, or 16% of total revenue, compared to $45.4 million, or 8% in FY23[7] - Net loss for 2024 was $68,455, compared to a net loss of $110,086 in 2023, showing an improvement of approximately 38%[31] - Net loss for Q4 2024 was $16.428 million, slightly improved from a net loss of $17.410 million in Q4 2023[27] Cash Flow - Cash flow from operations for FY24 was $31.2 million, or 5% of total revenue, down from $36.0 million in FY23[8] - Free cash flow for the year ended December 31, 2024, was $22,183 million, down from $33,030 million in 2023, a decrease of 32.9%[42] - Unlevered free cash flow for the year ended December 31, 2024, was $72,399 million, compared to $55,414 million in 2023, an increase of 30.7%[42] - Net cash provided by operating activities for the year ended December 31, 2024, was $31,192 million, down from $35,964 million in 2023, a decrease of 13.5%[42] Expenses and Liabilities - Operating expenses for the year ended December 31, 2024, totaled $555.167 million, a slight increase from $549.761 million in 2023[27] - Total liabilities decreased to $864.246 million as of December 31, 2024, down from $872.105 million in 2023, a reduction of 0.9%[25] Customer Metrics - The number of customers increased to 76,500 in 2024, up from 75,300 in 2023, showing a growth in the customer base[38] - Dollar-based net retention rate decreased to 104% in 2024 from 108% in 2023, indicating a slight decline in customer retention[38] Stock and Shareholder Value - The company repurchased $35,357 in common stock during financing activities, reflecting a strategic move to enhance shareholder value[31] - The company reported a weighted-average share count of 128,863,245 for Q4 2024, compared to 126,361,484 for Q4 2023[27] Other Financial Metrics - Gross profit for the year ended December 31, 2024, was $486.071 million, representing a 11.9% increase from $434.512 million in 2023[27] - The gross profit margin remained stable at 78% for both 2024 and 2023, indicating consistent profitability[40] - Adjusted EBITDA for Q4 2024 was $31,298 million, compared to $22,906 million in Q4 2023, indicating a year-over-year increase of 36.5%[42] - Stock-based compensation for Q4 2024 was $25,121 million, compared to $22,918 million in Q4 2023, reflecting an increase of 9.6%[42] - The net cash provided by operating activities as a percentage of total revenue was 5% for 2024, compared to 6% in 2023[42] - Free cash flow margin for 2024 was 4%, down from 6% in 2023, indicating a decline in efficiency[42]

Core Viewpoint - Jamf announced its financial results for the fourth quarter and full year ended December 31, 2024, highlighting its position as a leader in managing and securing Apple devices in the workplace [1]. Financial Results - The earnings release is available on Jamf's Investor Relations website and will be furnished to the SEC on Form 8-K [1]. Conference Call - Jamf will host a conference call and live webcast for analysts and investors on February 27, 2025, at 3:30 p.m. Central Time [2]. - The conference call will be accessible via Jamf's Investor Relations website, with financial tables and presentations available for participants [3]. Replay Availability - A replay of the conference call will be available on the Investor Relations website starting February 27, 2025, at approximately 6:00 p.m. Central Time [4]. Disclosure Practices - Jamf utilizes its Investor Relations website for disclosing material non-public information and complying with Regulation FD [5]. Company Overview - Jamf aims to simplify work by providing a complete management and security solution for Apple environments, ensuring enterprise security while maintaining user simplicity and privacy [6].