jamf(JAMF)2025-02-27 21:10Customer 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 627,399,000, an increase of 11.9% from 613,591,000, up 13.0% from 68,455,000, a reduction of 37.9% compared to a net loss of 486,071,000, representing a 11.9% rise from 424,657,000, up 5.9% from 864,246,000, down 0.9% from 224,680,000 from 68.455 million, a significant improvement from a net loss of 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 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 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 35.4 million in May 2024[485] - Total stockholders' equity slightly decreased to 717,547,000 in 2023[451] Other Financial Metrics - The company recognized revenue from professional services of 16.3 million in 2023[503] - Contract liabilities at the end of 2024 were 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]