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Jun 30, 2023
Jamf Q2 2023 Earnings Report
Reported a year-over-year revenue increase of 17% and ARR growth of 18%.
Key Takeaways
Jamf announced its Q2 2023 financial results, with total revenue reaching $135.1 million, a 17% increase year-over-year. The company's ARR grew by 18% to $547.8 million as of June 30, 2023. Jamf ended the quarter serving more than 73,500 customers with 31.3 million total devices on their platform.
Total revenue increased by 17% year-over-year to $135.1 million.
ARR grew by 18% year-over-year to $547.8 million as of June 30, 2023.
GAAP gross profit was $104.2 million, representing 77% of total revenue.
Ended the second quarter serving more than 73,500 customers with 31.3 million total devices.
Forward Guidance
For the third quarter of 2023, Jamf expects total revenue of $139.0 to $141.0 million and non-GAAP operating income of $10.0 to $11.0 million. For the full year 2023, Jamf expects total revenue of $555.0 to $558.0 million and non-GAAP operating income of $41.0 to $43.0 million.
Positive Outlook
- Expected Q3 2023 total revenue between $139.0 to $141.0 million.
- Expected Q3 2023 non-GAAP operating income between $10.0 to $11.0 million.
- Expected full year 2023 total revenue between $555.0 to $558.0 million.
- Expected full year 2023 non-GAAP operating income between $41.0 to $43.0 million.
- Amortization is expected to be approximately $10.5 million for Q3 2023 and $42.0 million for full year 2023.
Challenges Ahead
- Jamf is unable to provide a quantitative reconciliation of forward-looking guidance of non-GAAP operating income to GAAP operating income (loss).
- Acquisition-related expenses.
- Acquisition-related earn-out.
Historical Earnings Impact
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