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Mar 31, 2024
Jamf Q1 2024 Earnings Report
Reported solid results, exceeding Q1 outlook and demonstrating year-over-year growth.
Key Takeaways
Jamf announced its Q1 2024 financial results, demonstrating a solid start to the year with total revenue growth of 15% year-over-year to $152.1 million and ARR growth of 14% year-over-year to $602.4 million. The company exceeded the high end of its Q1 outlook and is focused on its three-year plan for improved revenue growth and increased profitability.
Total revenue increased by 15% year-over-year to $152.1 million.
ARR grew by 14% year-over-year to $602.4 million as of March 31, 2024.
GAAP operating loss was $21.1 million, or (14)% of total revenue.
Non-GAAP operating income was $22.1 million, or 15% of total revenue.
Revenue by Segment
Forward Guidance
For the second quarter of 2024, Jamf expects total revenue of $150.5 to $152.5 million and non-GAAP operating income of $21.5 to $22.5 million. For the full year 2024, Jamf expects total revenue of $618.5 to $622.5 million and non-GAAP operating income of $92.5 to $95.5 million.
Positive Outlook
- Total revenue of $150.5 to $152.5 million for Q2 2024.
- Non-GAAP operating income of $21.5 to $22.5 million for Q2 2024.
- Total revenue of $618.5 to $622.5 million for full year 2024.
- Non-GAAP operating income of $92.5 to $95.5 million for full year 2024.
- Amortization is expected to be approximately $10.1 million for Q2 2024 and $40.3 million for full year 2024.
Challenges Ahead
- Stock-based compensation and related payroll taxes are expected to be approximately $28.1 million for Q2 2024.
- Stock-based compensation and related payroll taxes are expected to be approximately $104.9 million for full year 2024.
- Jamf is unable to provide a quantitative reconciliation of forward-looking guidance of non-GAAP operating income to GAAP operating income (loss).
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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