0001721947false00017219472024-08-072024-08-07

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 7, 2024
JAMF HOLDING CORP.
(Exact name of registrant as specified in its charter)
Delaware001-3939982-3031543
(State or other jurisdiction
of incorporation)		(Commission File Number)(IRS Employer
Identification No.)
100 Washington Ave S, Suite 1100
Minneapolis, MN
55401
(Address of principal executive offices)(Zip Code)
(612) 605-6625
(Registrant’s telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
☐ Emerging growth company
☐  If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading
Symbol(s)
Name of each exchange on which
registered
Common Stock, $0.001 par valueJAMFThe NASDAQ Stock Market LLC


Item 2.02. Results of Operations and Financial Condition.
On August 7, 2024, Jamf Holding Corp. (the “Company”) issued a press release announcing its financial results for the quarter ended June 30, 2024. In the press release, the Company also announced that it will hold a conference call on August 7, 2024 to discuss its financial results for the quarter ended June 30, 2024. The full text of the press release is furnished herewith as Exhibit 99.1 and is incorporated herein by reference.
This information is intended to be furnished under Item 2.02 of Form 8-K, “Results of Operations and Financial Condition” and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No.Description of Exhibit
99.1
104Cover Page Interactive Data File (embedded within the Inline XBRL document)


SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
JAMF HOLDING CORP.
Date: August 7, 2024
By:/s/ Jeff Lendino
Name:Jeff Lendino
Title:Chief Legal Officer

image_0a.jpg

Exhibit 99.1

Jamf Announces Second Quarter 2024 Financial Results
•Q2 total revenue year-over-year growth of 13% to $153.0 million
•ARR year-over-year growth of 13% to $621.7 million as of June 30, 2024
•GAAP operating loss of $20.0 million, or (13)% of total revenue, compared to GAAP operating loss of $37.6 million, or (28)% of total revenue, in the second quarter of 2023
•Non-GAAP operating income of $23.5 million, or 15% of total revenue, compared to $5.8 million, or 4% of total revenue, in the second quarter of 2023
MINNEAPOLIS – August 7, 2024 – Jamf (NASDAQ: JAMF), the standard in managing and securing Apple at work, today announced financial results for its second quarter ended June 30, 2024.
“Jamf continued to exceed expectations in Q2, with results surpassing the high end of our financial outlook,” said John Strosahl, Jamf CEO. “Our focused efforts on key strategic growth areas along with investments in scalability and efficiency are driving our performance now and preparing Jamf for the goals we’ve laid out for the future.”
Second Quarter 2024 Financial Highlights
•Revenue: Total revenue of $153.0 million, an increase of 13% year-over-year.
•ARR: ARR of $621.7 million as of June 30, 2024, an increase of 13% year-over-year.
•Gross Profit: GAAP gross profit of $118.0 million, or 77% of total revenue, compared to $104.2 million in the second quarter of 2023. Non-GAAP gross profit of $124.9 million, or 82% of total revenue, compared to $110.6 million in the second quarter of 2023.
•Operating Loss/Income: GAAP operating loss of $20.0 million, or (13)% of total revenue, compared to $37.6 million in the second quarter of 2023. Non-GAAP operating income of $23.5 million, or 15% of total revenue, compared to $5.8 million in the second quarter of 2023.
•Cash Flow: Cash flow provided by operations of $47.6 million for the TTM ended June 30, 2024, or 8% of TTM total revenue, compared to $60.4 million for the TTM ended June 30, 2023. Unlevered free cash flow of $82.7 million for the TTM ended June 30, 2024, or 14% of TTM total revenue, compared to $66.6 million for the TTM ended June 30, 2023.
A reconciliation between historical GAAP and non-GAAP information is contained in the tables below and the section titled “Non-GAAP Financial Measures” below contains descriptions of these reconciliations.

Recent Business Highlights
•Ended the second quarter serving more than 76,600 customers with 33.6 million total devices on our platform.
•Achieved 27% year-over-year growth in security ARR, to $145.1 million as of June 30, 2024, representing 23% of Jamf’s total ARR.
•Named a Leader in the IDC MarketScape: Worldwide UEM Software for Apple Devices 2024 Vendor Assessment.
•Launched two new offerings to better support managed service provider (MSP) partners.
◦Jamf Insights, a single dashboard to provide a multi-tenanted view of an entire customer fleet and key device metrics, helping partners easily support customers’ devices to enhance security and provide a powerful user experience.
◦Jamf Service Provider plan, a comprehensive plan that brings together Jamf Insights, Jamf Pro, Jamf Auto Update and a dedicated MSP support service, enabling partners to simplify, automate and scale their practice by combining Jamf’s products and expertise in one place.
1
image_0a.jpg
•Announced Jamf has been authorized by the CVE Program as a CVE Numbering Authority, recognizing Jamf’s commitment to helping organizations maintain the most secure environments. CVE is an international, community-based effort with a mission to identify, define and catalog publicly-disclosed cybersecurity vulnerabilities.
•Hosted over 1,400 customers at Jamf Nation Live events in Amsterdam, Berlin and London.
•Published our 2024 Purpose and Impact Report, detailing our strategic commitments and approach to environmental, social, and governance topics to empower employees, customers, and communities.
For the third quarter of 2024, Jamf currently expects:
•Total revenue of $156.5 to $158.5 million
•Non-GAAP operating income of $25.5 to $26.5 million
For the full year 2024, Jamf currently expects:
•Total revenue of $622.5 to $625.5 million
•Non-GAAP operating income of $96.0 to $98.0 million
To assist with modeling, for the third quarter of 2024 and full year 2024, amortization is expected to be approximately $10.0 million and $40.3 million, respectively. In addition, for the third quarter of 2024 and full year 2024, stock-based compensation and related payroll taxes are expected to be approximately $27.2 million and $102.9 million, respectively.
Jamf is unable to provide a quantitative reconciliation of forward-looking guidance of non-GAAP operating income to GAAP operating income (loss) because certain items are out of Jamf’s control or cannot be reasonably predicted. Historically, adjustments to non-GAAP operating income have included, but are not limited to, amortization expense, stock-based compensation expense, acquisition-related expense, acquisition-related earn-out, offering costs, payroll taxes related to stock-based compensation, system transformation costs, restructuring charges, and extraordinary legal settlements and non-recurring litigation costs. Accordingly, a reconciliation for forward-looking non-GAAP operating income is not available without unreasonable effort. These items are uncertain, depend on various factors, and could result in projected GAAP operating income (loss) being materially less than is indicated by currently estimated non-GAAP operating income.
These statements are forward-looking and actual results may differ materially. Refer to the Forward-Looking Statements safe harbor below for information on the factors that could cause our actual results to differ materially from these forward-looking statements.

Webcast and Conference Call Information
Jamf will host a conference call and live webcast for analysts and investors at 3:30 p.m. Central Time (4:30 p.m. Eastern Time) on August 7, 2024.
The conference call will be webcast live on Jamf’s Investor Relations website at https://ir.jamf.com. Those parties interested in participating via telephone may register on Jamf’s Investor Relations website. The financial tables, earnings presentation, and investor presentation provided in connection with this press release and the accompanying conference call will also be available on Jamf’s Investor Relations website.
A replay of the call will be available on the Investor Relations website beginning on August 7, 2024, at approximately 6:00 p.m. Central Time (7:00 p.m. Eastern Time).
Please note that Jamf uses its https://ir.jamf.com website as a means of disclosing material non-public information, announcing upcoming investor conferences, and for complying with its disclosure obligations under Regulation FD. Accordingly, you should monitor our investor relations website in addition to following our press releases, SEC filings, and public conference calls and webcasts.
2
image_0a.jpg
Non-GAAP Financial Measures
In addition to our results determined in accordance with generally accepted accounting principles in the United States (“GAAP”), we believe the non-GAAP measures of non-GAAP operating expenses, non-GAAP gross profit, non-GAAP gross profit margin, non-GAAP operating income (loss), non-GAAP operating income (loss) margin, non-GAAP income before income taxes, non-GAAP provision for income taxes as it relates to the calculation of non-GAAP net income, non-GAAP net income, adjusted EBITDA, free cash flow, free cash flow margin, unlevered free cash flow, and unlevered free cash flow margin are useful in evaluating our operating performance. Certain of these non-GAAP measures exclude amortization expense, stock-based compensation expense, foreign currency transaction loss (gain), amortization of debt issuance costs, acquisition-related expense, offering costs, payroll taxes related to stock-based compensation, system transformation costs, restructuring charges, and extraordinary legal settlements and non-recurring litigation costs. We believe that non-GAAP financial information, when taken collectively, may be helpful to investors because it provides consistency and comparability with past financial performance and assists in comparisons with other companies, some of which use similar non-GAAP information to supplement their GAAP results. The non-GAAP financial information is presented for supplemental informational purposes only, should not be considered a substitute for financial information presented in accordance with GAAP, and may be different from similarly-titled non-GAAP measures used by other companies. The principal limitation of these non-GAAP financial measures is that they exclude significant expenses that are required by GAAP to be recorded in our financial statements. In addition, they are subject to inherent limitations as they reflect the exercise of judgment by our management about which expenses are excluded or included in determining these non-GAAP financial measures. Reconciliation tables of the most comparable GAAP financial measures to the non-GAAP financial measures used in this press release are included with the financial tables at the end of this press release. We strongly encourage investors to review our consolidated financial statements included in our publicly filed reports in their entirety and not rely solely on any single financial measurement or communication.
Forward-Looking Statements
This press release and the accompanying conference call contain “forward-looking statements” within the meaning of federal securities laws, which statements involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or our future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as “may,” “can,” “will,” “would,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “target,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “forecasts,” “potential,” or “continue,” or other similar terms or expressions that concern our expectations, strategy, plans, or intentions. Forward-looking statements may involve known and unknown risks, uncertainties, and other factors that may cause our actual results, performance, or achievements to be materially different from those expressed or implied by the forward-looking statements. These statements include, but are not limited to, statements regarding our future financial and operating performance (including our outlook and guidance), the demand for our platform, anticipated impacts of macroeconomic conditions on our business, our expectations regarding business benefits and financial impacts from our acquisitions, partnerships, and investments, and our ability to deliver on our long-term strategy.
The forward-looking statements contained in this press release and the accompanying conference call are also subject to additional risks, uncertainties, and factors, including those more fully described in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023. Additional information will also be set forth in our Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2024 as well as the subsequent periodic and current reports and other filings that we make with the Securities and Exchange Commission from time to time. Moreover, we operate in a very competitive and rapidly changing environment, and new risks and uncertainties may emerge that could have an impact on the forward-looking statements contained in this press release and the accompanying conference call.
Given these factors, as well as other variables that may affect our operating results, you should not rely on forward-looking statements, assume that past financial performance will be a reliable indicator of future performance, or use historical trends to anticipate results or trends in future periods. The forward-looking statements included in this
3
image_0a.jpg
press release and the accompanying conference call relate only to events as of the date hereof. We undertake no obligation to update or revise any forward-looking statement as a result of new information, future events, or otherwise, except as otherwise required by law.
About Jamf
Jamf’s purpose is to simplify work by helping organizations manage and secure an Apple experience that end users love and organizations trust. Jamf is the only company in the world that provides a complete management and security solution for an Apple-first environment designed to be enterprise secure, consumer simple and protect personal privacy. To learn more, visit www.jamf.com.
Investor Contact
Jennifer Gaumond
ir@jamf.com
Media Contact
Ashley Long
media@jamf.com
4
image_0a.jpg
Jamf Holding Corp.
Consolidated Balance Sheets
(in thousands)
(unaudited)
June 30,
2024		December 31, 2023
Assets
Current assets:
Cash and cash equivalents$200,858$243,576 
Trade accounts receivable, net of allowances of $442 and $444
109,073108,240 
Deferred contract costs25,72723,508 
Prepaid expenses18,51814,255 
Other current assets19,82313,055 
Total current assets373,999402,634
Equipment and leasehold improvements, net14,26415,184 
Goodwill885,404887,121 
Other intangible assets, net167,779187,891 
Deferred contract costs, non-current55,89753,070 
Other assets49,39843,752 
Total assets$1,546,741$1,589,652
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable$18,901$25,909 
Accrued liabilities73,78277,447 
Income taxes payable1,4671,248 
Deferred revenue
314,893317,546 
Total current liabilities409,043422,150
Deferred revenue, non-current
55,31355,886 
Deferred tax liability, net5,0215,952 
Convertible senior notes, net368,248366,999 
Other liabilities16,86621,118 
Total liabilities854,491872,105
Commitments and contingencies
Stockholders’ equity:
Preferred stock—— 
Common stock124126 
Additional paid-in capital1,214,3401,162,993 
Accumulated other comprehensive loss(28,278)(26,777)
Accumulated deficit(493,936)(418,795)
Total stockholders’ equity692,250717,547
Total liabilities and stockholders’ equity$1,546,741$1,589,652
5
image_0a.jpg
Jamf Holding Corp.
Consolidated Statements of Operations
(in thousands, except share and per share amounts)
(unaudited)
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
Revenue:
Subscription$149,428 $130,591 $297,781 $257,821 
Services3,497 4,254 7,203 8,638 
License91 244 155 842 
Total revenue153,016 135,089 305,139 267,301 
Cost of revenue:
Cost of subscription(1)(2)(3)(5)(6) (exclusive of amortization expense shown below)
28,141 24,186 56,151 47,345 
Cost of services(1)(2)(3)(4) (exclusive of amortization expense shown below)
3,619 3,385 7,389 6,677 
Amortization expense3,244 3,312 6,556 6,608 
Total cost of revenue35,004 30,883 70,096 60,630 
Gross profit118,012 104,206 235,043 206,671 
Operating expenses:
Sales and marketing(1)(2)(3)(4)(5)(6)
61,905 63,890 126,687 124,098 
Research and development(1)(2)(3)(4)(5)(6)
34,753 34,725 69,015 66,797 
General and administrative(1)(2)(3)(4)(5)(6)(7)
34,427 35,966 66,625 64,402 
Amortization expense6,895 7,247 13,793 14,488 
Total operating expenses137,980 141,828 276,120 269,785 
Loss from operations(19,968)(37,622)(41,077)(63,114)
Interest income, net1,641 1,481 3,681 2,766 
Foreign currency transaction gain431 1,048 19 1,652 
Loss before income tax provision(17,896)(35,093)(37,377)(58,696)
Income tax provision(1,366)(1,106)(2,409)(1,703)
Net loss$(19,262)$(36,199)$(39,786)$(60,399)
Net loss per share, basic and diluted$(0.15)$(0.29)$(0.31)$(0.49)
Weighted‑average shares used to compute net loss per share, basic and diluted127,911,770 124,382,767 127,603,390 123,905,072 
(1) Includes stock-based compensation as follows:
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
Cost of revenue:
Subscription$2,983 $2,715 $5,611 $4,982 
Services451 323 863 632 
Sales and marketing8,285 9,076 14,674 16,575 
Research and development6,969 6,401 12,400 11,434 
General and administrative7,595 11,668 13,314 16,110 
$26,283 $30,183 $46,862 $49,733 
6
image_0a.jpg
(2) Includes payroll taxes related to stock-based compensation as follows:
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
Cost of revenue:
Subscription$45 $71 $182 $83 
Services— 12 24 12 
Sales and marketing57 303 617 407 
Research and development57 175 359 246 
General and administrative171 146 436 222 
$330 $707 $1,618 $970 
(3) Includes depreciation expense as follows:
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
Cost of revenue:
Subscription$307 $306 $605 $621 
Services46 39 93 78 
Sales and marketing687 787 1,420 1,592 
Research and development449 456 893 923 
General and administrative251 267 509 528 
$1,740 $1,855 $3,520 $3,742 
(4) Includes acquisition-related expense as follows:
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
Cost of revenue:
Services$88 $1 $167 $2 
Sales and marketing— 115 — 115 
Research and development236 124 419 175 
General and administrative2,062 439 4,188 1,145 
$2,386 $679 $4,774 $1,437 
(5) Includes system transformation costs as follows:
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
Cost of revenue:
Subscription$72 $— $104 $— 
Sales and marketing84 37 135 37 
Research and development— 10 — 10 
General and administrative2,188 1,293 3,974 1,734 
$2,344 $1,340 $4,213 $1,781 
7
image_0a.jpg
(6) Includes restructuring charges as follows:
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
Cost of revenue:
Subscription$(3)$— $7 $— 
Sales and marketing947 — 6,518 — 
Research and development(26)— 708 — 
General and administrative168 — 957 — 
$1,086 $— $8,190 $— 
(7) General and administrative also includes the following:
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
Offering costs$872 $— $872 $— 
Legal settlements and non-recurring litigation costs64 — (133)— 
8
image_0a.jpg
Jamf Holding Corp.
Consolidated Statements of Cash Flows
(in thousands)
(unaudited)
Six Months Ended June 30,
20242023
Operating activities
Net loss$(39,786)$(60,399)
Adjustments to reconcile net loss to cash used in operating activities:
Depreciation and amortization expense23,869 24,838 
Amortization of deferred contract costs12,862 9,987 
Amortization of debt issuance costs1,397 1,368 
Non-cash lease expense2,856 2,955 
Provision for credit losses and returns130 217 
Stock-based compensation46,862 49,733 
Deferred tax benefit(517)(355)
Other(590)(1,856)
Changes in operating assets and liabilities:
Trade accounts receivable(1,072)(12,047)
Prepaid expenses and other assets(16,553)(6,999)
Deferred contract costs(17,935)(19,124)
Accounts payable(7,235)(483)
Accrued liabilities(2,997)(10,205)
Income taxes payable244 386 
Deferred revenue(3,188)8,753 
Other liabilities62 — 
Net cash used in operating activities(1,591)(13,231)
Investing activities
Purchases of equipment and leasehold improvements(2,733)(1,786)
Purchase of investments(2,500)(750)
Other(305)(25)
Net cash used in investing activities(5,538)(2,561)
Financing activities
Debt issuance costs(1,549)— 
Cash paid for offering costs(197)— 
Cash paid for contingent consideration— (206)
Payment of acquisition-related holdback(3,600)(277)
Repurchase and retirement of common stock
(35,357)— 
Proceeds from the exercise of stock options1,756 2,965 
Net cash (used in) provided by financing activities(38,947)2,482 
Effect of exchange rate changes on cash, cash equivalents, and restricted cash(216)92 
Net decrease in cash, cash equivalents, and restricted cash(46,292)(13,218)
Cash, cash equivalents, and restricted cash, beginning of period250,809 231,921 
Cash, cash equivalents, and restricted cash, end of period$204,517 $218,703 
Reconciliation of cash, cash equivalents, and restricted cash within the consolidated balance sheets to the amounts shown in the consolidated statements of cash flows above:
Cash and cash equivalents$200,858 $211,471 
Restricted cash included in other current assets3,659 32 
Restricted cash included in other assets— 7,200 
Total cash, cash equivalents, and restricted cash$204,517 $218,703 
9
image_0a.jpg
Jamf Holding Corp.
Supplemental Financial Information
Disaggregated Revenue
(in thousands)
(unaudited)
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
SaaS subscription and support and maintenance$146,101 $126,566 $288,507 $247,328 
On‑premise subscription3,327 4,025 9,274 10,493 
Subscription revenue149,428 130,591 297,781 257,821 
Professional services3,497 4,254 7,203 8,638 
Perpetual licenses91 244 155 842 
Non‑subscription revenue3,588 4,498 7,358 9,480 
Total revenue$153,016 $135,089 $305,139 $267,301 
10
image_0a.jpg
Jamf Holding Corp.
Supplemental Information
Key Business Metrics
(in millions, except number of customers and percentages)
(unaudited)
June 30,
2024		March 31,
2024		December 31,
2023		September 30,
2023		June 30,
2023		March 31,
2023
ARR$621.7 $602.4 $588.6 $566.3 $547.8 $526.6 
ARR from management solutions as a percent of total ARR77 %77 %77 %79 %79 %80 %
ARR from security solutions as a percent of total ARR23 %23 %23 %21 %21 %20 %
ARR from commercial customers as a percent of total ARR74 %74 %74 %73 %73 %72 %
ARR from education customers as a percent of total ARR26 %26 %26 %27 %27 %28 %
Dollar-based net retention rate106 %107 %108 %108 %109 %111 %
Devices33.6 32.8 32.3 31.8 31.3 30.8 
Customers76,600 75,900 75,300 74,400 73,500 72,500 
11
image_0a.jpg
Jamf Holding Corp.
Supplemental Financial Information
Reconciliation of GAAP to non-GAAP Financial Data
(in thousands, except share and per share amounts)
(unaudited)
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
Operating expenses$137,980 $141,828 $276,120 $269,785 
Amortization expense(6,895)(7,247)(13,793)(14,488)
Stock-based compensation(22,849)(27,145)(40,388)(44,119)
Acquisition-related expense(2,298)(678)(4,607)(1,435)
Offering costs(872)— (872)— 
Payroll taxes related to stock-based compensation(285)(624)(1,412)(875)
System transformation costs(2,272)(1,340)(4,109)(1,781)
Restructuring charges(1,089)— (8,183)— 
Legal settlements and non-recurring litigation costs
(64)— 133 — 
Non-GAAP operating expenses$101,356 $104,794 $202,889 $207,087 
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
Gross profit$118,012 $104,206 $235,043 $206,671 
Amortization expense3,244 3,312 6,556 6,608 
Stock-based compensation3,434 3,038 6,474 5,614 
Acquisition-related expense88 1 167 2 
Payroll taxes related to stock-based compensation45 83 206 95 
System transformation costs72 — 104 — 
Restructuring charges(3)— 7 — 
Non-GAAP gross profit$124,892 $110,640 $248,557 $218,990 
Gross profit margin77%77%77%77%
Non-GAAP gross profit margin82%82%81%82%
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
Operating loss$(19,968)$(37,622)$(41,077)$(63,114)
Amortization expense10,139 10,559 20,349 21,096 
Stock-based compensation26,283 30,183 46,862 49,733 
Acquisition-related expense2,386 679 4,774 1,437 
Offering costs872 — 872 — 
Payroll taxes related to stock-based compensation330 707 1,618 970 
System transformation costs2,344 1,340 4,213 1,781 
Restructuring charges1,086 — 8,190 — 
Legal settlements and non-recurring litigation costs
64 — (133)— 
Non-GAAP operating income$23,536 $5,846 $45,668 $11,903 
Operating loss margin(13)%(28)%(13)%(24)%
Non-GAAP operating income margin15%4%15%4%
12
image_0a.jpg
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
Net loss$(19,262)$(36,199)$(39,786)$(60,399)
Exclude: income tax provision(1,366)(1,106)(2,409)(1,703)
Loss before income tax provision(17,896)(35,093)(37,377)(58,696)
Amortization expense10,139 10,559 20,349 21,096 
Stock-based compensation26,283 30,183 46,862 49,733 
Foreign currency transaction gain(431)(1,048)(19)(1,652)
Amortization of debt issuance costs708 684 1,397 1,368 
Acquisition-related expense2,386 679 4,774 1,437 
Offering costs872 — 872 — 
Payroll taxes related to stock-based compensation330 707 1,618 970 
System transformation costs2,344 1,340 4,213 1,781 
Restructuring charges1,086 — 8,190 — 
Legal settlements and non-recurring litigation costs
64 — (133)— 
Non-GAAP income before income taxes25,885 8,011 50,746 16,037 
Non-GAAP provision for income taxes (1)
(6,212)(1,923)(12,179)(3,849)
Non-GAAP net income$19,673 $6,088 $38,567 $12,188 
Net loss per share:
Basic$(0.15)$(0.29)$(0.31)$(0.49)
Diluted$(0.15)$(0.29)$(0.31)$(0.49)
Weighted‑average shares used in computing net loss per share:
Basic127,911,770 124,382,767 127,603,390 123,905,072 
Diluted127,911,770 124,382,767 127,603,390 123,905,072 
Non-GAAP net income per share:
Basic$0.15 $0.05 $0.30 $0.10 
Diluted$0.14 $0.05 $0.28 $0.09 
Weighted-average shares used in computing non-GAAP net income per share:
Basic127,911,770 124,382,767 127,603,390 123,905,072 
Diluted138,389,326 134,690,326 138,826,256 134,316,268 
(1) In accordance with the SEC’s Non-GAAP Financial Measures Compliance and Disclosure Interpretation, the Company’s blended U.S. statutory rate of 24% is used as an estimate for the current and deferred income tax expense associated with our non-GAAP income before income taxes.
13
image_0a.jpg
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
Net loss$(19,262)$(36,199)$(39,786)$(60,399)
Interest income, net(1,641)(1,481)(3,681)(2,766)
Provision for income taxes1,366 1,106 2,409 1,703 
Depreciation expense1,740 1,855 3,520 3,742 
Amortization expense10,139 10,559 20,349 21,096 
Stock-based compensation26,283 30,183 46,862 49,733 
Foreign currency transaction gain
(431)(1,048)(19)(1,652)
Acquisition-related expense2,386 679 4,774 1,437 
Offering costs872 — 872 — 
Payroll taxes related to stock-based compensation330 707 1,618 970 
System transformation costs2,344 1,340 4,213 1,781 
Restructuring charges1,086 — 8,190 — 
Legal settlements and non-recurring litigation costs64 — (133)— 
Adjusted EBITDA$25,276 $7,701 $49,188 $15,645 
Three Months Ended June 30,
20242023
Net cash provided by operating activities
$14,313$11,569
Less:
Purchases of equipment and leasehold improvements(978)(665)
Free cash flow13,33510,904
Add:
Cash paid for interest10678
Cash paid for acquisition-related expense353805
Cash paid for system transformation costs6,9611,324
Cash paid for restructuring charges2,331—
Cash paid for legal settlements and non-recurring litigation costs159—
Unlevered free cash flow$23,245$13,111
Total revenue$153,016$135,089
Net cash provided by operating activities as a percentage of total revenue
9%9%
Free cash flow margin9%8%
Unlevered free cash flow margin15%10%
14
image_0a.jpg
Six Months Ended June 30,Years Ended December 31,
20242023202220232022
Net cash (used in) provided by operating activities$(1,591)$(13,231)$16,342$35,964$90,005
Less:
Purchases of equipment and leasehold improvements(2,733)(1,786)(2,876)(2,934)(7,727)
Free cash flow(4,324)(15,017)13,46633,03082,278
Add:
Cash paid for interest420391371784763
Cash paid for acquisition-related expense1,7751,2081,7202,9754,480
Cash paid for system transformation costs15,1852,097—12,493—
Cash paid for restructuring charges8,610————
Cash paid for contingent consideration—6,000—6,000—
Cash paid for legal settlements and non-recurring litigation costs294——132—
Unlevered free cash flow$21,960$(5,321)$15,557$55,414$87,521
Total revenue$305,139$267,301$223,896$560,571$478,776
Net cash (used in) provided by operating activities as a percentage of total revenue(1)%(5)%7%6%19%
Free cash flow margin(1)%(6)%6%6%17%
Unlevered free cash flow margin7%(2)%7%10%18%
Trailing Twelve Months Ended
June 30,
20242023
Net cash provided by operating activities$47,604$60,432
Less:
Purchases of equipment and leasehold improvements(3,881)(6,637)
Free cash flow43,72353,795
Add:
Cash paid for interest813783
Cash paid for acquisition-related expense3,5423,968
Cash paid for system transformation costs25,5812,097
Cash paid for restructuring charges8,610—
Cash paid for contingent consideration—6,000
Cash paid for legal settlements and non-recurring litigation costs426—
Unlevered free cash flow$82,695$66,643
Total revenue$598,409$522,181
Net cash provided by operating activities as a percentage of total revenue8%12%
Free cash flow margin7%10%
Unlevered free cash flow margin14%13%


15
v3.24.2.u1
Document and Entity Information
Aug. 07, 2024
Cover [Abstract]  
Document Type 8-K
Document Period End Date Aug. 07, 2024
Entity Registrant Name JAMF HOLDING CORP.
City Area Code 612
Local Phone Number 605-6625
Entity Emerging Growth Company false
Title of 12(b) Security Common Stock, $0.001 par value
Trading Symbol JAMF
Security Exchange Name NASDAQ
Entity Central Index Key 0001721947
Amendment Flag false
Entity Incorporation, State or Country Code DE
Entity File Number 001-39399
Entity Tax Identification Number 82-3031543
Entity Address, Address Line One 100 Washington Ave S, Suite 1100
Entity Address, City or Town Minneapolis
Entity Address, State or Province MN
Entity Address, Postal Zip Code 55401
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Jamf (NASDAQ:JAMF)
과거 데이터 주식 차트
부터 8월(8) 2024 으로 9월(9) 2024 Jamf 차트를 더 보려면 여기를 클릭.
Jamf (NASDAQ:JAMF)
과거 데이터 주식 차트
부터 9월(9) 2023 으로 9월(9) 2024 Jamf 차트를 더 보려면 여기를 클릭.