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Jun 30, 2024
Jamf Q2 2024 Earnings Report
Reported a 13% year-over-year revenue growth and exceeded expectations in Q2.
Key Takeaways
Jamf's Q2 2024 financial results showed strong performance, exceeding expectations with a 13% year-over-year increase in total revenue, reaching $153.0 million. The company's ARR also grew by 13% to $621.7 million. Jamf's focused efforts on strategic growth areas and investments in scalability and efficiency drove the performance.
Total revenue increased by 13% year-over-year to $153.0 million.
ARR grew by 13% year-over-year to $621.7 million as of June 30, 2024.
GAAP operating loss was $20.0 million, or (13)% of total revenue, compared to $37.6 million in Q2 2023.
Non-GAAP operating income was $23.5 million, or 15% of total revenue, compared to $5.8 million in Q2 2023.
Jamf
Jamf
Jamf Revenue by Segment
Revenue by Segment
Subscription Revenue
CapyFin.comServices Revenue
CapyFin.comLicense Revenue
CapyFin.com Forward Guidance
For the third quarter of 2024, Jamf expects total revenue of $156.5 to $158.5 million and non-GAAP operating income of $25.5 to $26.5 million. For the full year 2024, Jamf expects total revenue of $622.5 to $625.5 million and non-GAAP operating income of $96.0 to $98.0 million.
Positive Outlook
- Total revenue of $156.5 to $158.5 million for Q3 2024.
- Non-GAAP operating income of $25.5 to $26.5 million for Q3 2024.
- Total revenue of $622.5 to $625.5 million for full year 2024.
- Non-GAAP operating income of $96.0 to $98.0 million for full year 2024.
- Amortization is expected to be approximately $10.0 million for Q3 2024 and $40.3 million for full year 2024.
Challenges Ahead
- 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.
- Adjustments to non-GAAP operating income have historically included amortization expense, stock-based compensation expense, acquisition-related expense, acquisition-related earn-out, offering costs, payroll taxes related to stock-based compensation, system transformation costs, restructuring charges, and extraordinary legal settlements and non-recurring litigation costs.
- 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.
- The forward-looking statements are subject to additional risks, uncertainties, and factors, including those more fully described in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023.
- New risks and uncertainties may emerge that could have an impact on the forward-looking statements.
Revenue & Expenses
Visualization of income flow from segment revenue to net income