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Mar 31, 2023
Jamf Q1 2023 Earnings Report
Reported a 22% year-over-year revenue growth and ARR grew 21% year-over-year.
Key Takeaways
Jamf's Q1 2023 total revenue increased by 22% year-over-year to $132.2 million, with ARR growing by 21% year-over-year to $526.6 million. The company served over 72,500 customers with 30.8 million devices on its platform.
Total revenue increased by 22% year-over-year to $132.2 million.
ARR grew by 21% year-over-year to $526.6 million as of March 31, 2023.
GAAP gross profit was $102.5 million, representing 78% of total revenue.
Ended the quarter serving more than 72,500 customers with 30.8 million total devices on the platform.
Jamf
Jamf
Jamf Revenue by Segment
Revenue by Segment
Subscription Revenue
CapyFin.comServices Revenue
CapyFin.comLicense Revenue
CapyFin.com Forward Guidance
For the second quarter of 2023, Jamf expects total revenue of $133.5 to $135.5 million and non-GAAP operating income of $4.5 to $5.5 million. For the full year 2023, the company expects total revenue of $559.0 to $563.0 million and non-GAAP operating income of $41.0 to $43.0 million.
Positive Outlook
- Total revenue of $133.5 to $135.5 million for Q2 2023.
- Non-GAAP operating income of $4.5 to $5.5 million for Q2 2023.
- Total revenue of $559.0 to $563.0 million for the full year 2023.
- Non-GAAP operating income of $41.0 to $43.0 million for the full year 2023.
- Amortization is expected to be approximately $10.5 million for Q2 2023 and $42.0 million for the full year 2023.
Challenges Ahead
- Stock-based compensation and related payroll taxes are expected to be approximately $31.4 million for Q2 2023.
- Stock-based compensation and related payroll taxes are expected to be approximately $107.4 million for the full year 2023.
- The company is unable to provide a quantitative reconciliation of forward-looking guidance of non-GAAP operating income to GAAP operating income (loss).
- Acquisition-related expenses and acquisition-related earn-out are out of Jamf’s control or cannot be reasonably predicted.
- Offering costs, amortization, and stock-based compensation and related payroll taxes are uncertain and depend on various factors.
Revenue & Expenses
Visualization of income flow from segment revenue to net income