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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.
Jamf
Jamf
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.
- Stock-based compensation and related payroll taxes.
- System transformation costs.