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Jun 30, 2022
Jamf Q2 2022 Earnings Report
Announced second quarter 2022 financial results with revenue growth and customer expansion.
Key Takeaways
Jamf reported a strong second quarter with a 34% year-over-year increase in total revenue, reaching $115.6 million. The company's ARR grew by 40% to $466.0 million. They also appointed Ian Goodkind as CFO.
Total revenue increased by 34% year-over-year to $115.6 million.
ARR grew by 40% year-over-year to $466.0 million as of June 30, 2022.
GAAP gross profit was $86.2 million, or 75% of total revenue.
Non-GAAP operating income was $4.5 million, or 4% of total revenue.
Jamf
Jamf
Forward Guidance
For the third quarter of 2022, Jamf expects total revenue of $121.5 to $122.5 million and non-GAAP operating income of $4 to $5 million. For the full year 2022, Jamf expects total revenue of $475 to $477 million and non-GAAP operating income of $21 to $23 million.
Positive Outlook
- Total revenue of $121.5 to $122.5 million for Q3 2022.
- Non-GAAP operating income of $4 to $5 million for Q3 2022.
- Total revenue of $475 to $477 million for the full year 2022.
- Non-GAAP operating income of $21 to $23 million for the full year 2022.
- Amortization is expected to be approximately $12.3 million for Q3 2022 and $47.9 million for the full year 2022.
Challenges Ahead
- Stock-based compensation and related payroll taxes is expected to be approximately $23.2 million for Q3 2022
- Stock-based compensation and related payroll taxes is expected to be approximately $116.9 million for the full year 2022.
- 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.
- These items have included, but are not limited to, acquisition-related expenses and acquisition-related earn-out, offering costs, amortization and stock-based compensation and related payroll taxes.
- 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.