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Sep 30, 2022
Jamf Q3 2022 Earnings Report
Reported strong results with revenue growth and strategic advancements.
Key Takeaways
Jamf announced strong Q3 2022 results, with a 30% increase in total revenue to $124.6 million and a 27% increase in ARR to $490.5 million. The company highlighted its diverse business model, market leadership, and commitment to innovation as key drivers of its performance.
Total revenue increased by 30% year-over-year to $124.6 million.
ARR grew by 27% year-over-year, reaching $490.5 million as of September 30, 2022.
GAAP gross profit was $93.4 million, representing 75% of total revenue.
GAAP operating loss was $28.6 million, or (23)% of total revenue.
Jamf
Jamf
Forward Guidance
For the fourth quarter of 2022, Jamf expects total revenue of $128.5 to $129.5 million and non-GAAP operating income of $6.5 to $7.5 million. For the full year 2022, Jamf expects total revenue of $477.0 to $478.0 million and non-GAAP operating income of $23.5 to $24.5 million.
Positive Outlook
- Total revenue of $128.5 to $129.5 million is expected for Q4 2022.
- Non-GAAP operating income of $6.5 to $7.5 million is expected for Q4 2022.
- Total revenue of $477.0 to $478.0 million is expected for the full year 2022.
- Non-GAAP operating income of $23.5 to $24.5 million is expected for the full year 2022.
- Amortization is expected to be approximately $11.1 million for Q4 2022.
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 and acquisition-related earn-out are out of Jamf’s control or cannot be reasonably predicted.
- Offering costs are out of Jamf’s control or cannot be reasonably predicted.
- Stock-based compensation and related payroll taxes are out of Jamf’s control or cannot be reasonably predicted.
- 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.