Company Overview - Jamf defines Apple in the enterprise, serving customers in over 100 countries[17, 21] - The company boasts a No 1 market position with a 23% CAGR since its 2020 IPO[18] - Jamf's net retention rate is strong at 103%[18] - Subscription revenue accounts for 98% of the total[18] Market Opportunity and Growth - The total addressable market (TAM) is estimated at approximately $49 billion, with a serviceable addressable market (SAM) of around $21.7 billion[48] - Jamf's current market share of the SAM is about 3%, representing $646 million[48] - The total SAM is projected to grow to roughly $27 billion by 2026[52] - There's a significant security cross-sell opportunity within the existing customer base, estimated at around $350 million[71] Financial Performance - In FY2024, Jamf's annual recurring revenue (ARR) reached $646 million[51] - Non-GAAP operating income for FY2024 was $103 million, resulting in a 16% margin[84] - The company has consistently met or exceeded expectations every quarter since its IPO[35]

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.

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 ...