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JAMF Nasdaq· Jamf Holding Corporation
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JAMF Nasdaq· Jamf Holding Corporation
Earnings report Q4 2023

JAMF Holding Corp. Reports Strong Revenue Growth in Latest Quarter

Segments of revenue

In the latest quarter, JAMF Holding Corp. reported total revenue of $560.6 million. The majority of the revenue came from subscriptions to their Jamf Pro product, which accounted for $543 million. Services revenue amounted to $16.3 million, while license revenue contributed $1.2 million.

Strengths

JAMF Holding Corp. demonstrated strong revenue growth in the latest quarter, with a significant increase compared to the same period last year. The company's ability to retain and expand usage of their software solutions by existing customers is evident in their dollar-based net retention rate. Additionally, JAMF's success is attributed to their sustained product innovation and technology leadership, which has allowed them to maintain a competitive advantage. The company has built a highly differentiated platform and intends to further extend its adoption through additional innovation. The increase in revenue can be attributed to the sales of subscriptions to their Jamf Pro product, as well as their investments in building additional products, features, and functionality.

Challenges

Despite the strong revenue growth, JAMF Holding Corp. faced challenges in the form of operating expenses. Sales and marketing expenses amounted to $250.8 million, while research and development expenses reached $134.4 million. General and administrative expenses were reported at $135.2 million. These expenses contributed to a loss from operations of $115.2 million in the latest quarter.

Noteworthy

JAMF Holding Corp. experienced a year-over-year growth rate of 8% in the number of devices on their software platform. This growth reflects their expansion across industries, products, and geographies. The company also highlighted their focus on partnerships with critical technology providers such as Apple, Microsoft, AWS, Google, and Okta. They aim to be the bridge between these technologies and deliver more value to enterprise users.

Summary

JAMF Holding Corp. delivered a strong performance in the latest quarter, with significant revenue growth driven by sales of subscriptions to their Jamf Pro product. The company's ability to retain and expand usage of their software solutions, along with their focus on product innovation and technology leadership, has contributed to their success. However, operating expenses remain a challenge for the company. JAMF Holding Corp. also experienced growth in the number of devices on their software platform and emphasized their partnerships with key technology providers. Overall, JAMF Holding Corp. is well-positioned for continued growth and innovation in the market.

Source documents

Form 10-K  filed on Feb 27, 2024
16 pages scanned

Reference data

Company financials Q4 revenue 151M
Analyst estimates Q4 EPS beat by 92.42%
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