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Sep 30, 2023
Jamf Q3 2023 Earnings Report
Jamf's Q3 revenue increased by 15% year-over-year, ARR grew by 15%, and the company served more than 74,400 customers.
Key Takeaways
Jamf reported a 15% year-over-year increase in total revenue, reaching $142.6 million in Q3 2023. The company's ARR also grew by 15% to $566.3 million as of September 30, 2023. Jamf ended the quarter serving more than 74,400 customers with 31.8 million total devices on the platform.
Total revenue reached $142.6 million, representing a 15% year-over-year increase.
ARR grew by 15% year-over-year, reaching $566.3 million as of September 30, 2023.
GAAP operating loss was $31.9 million, or (22)% of total revenue.
Ended Q3 serving more than 74,400 customers with 31.8 million total devices on the platform.
Jamf
Jamf
Forward Guidance
For the fourth quarter of 2023, Jamf expects total revenue of $148.0 to $149.0 million and non-GAAP operating income of $19.5 to $20.5 million. For the full year 2023, Jamf expects total revenue of $557.9 to $558.9 million and non-GAAP operating income of $43.8 to $44.8 million.
Positive Outlook
- Total revenue of $148.0 to $149.0 million is expected for Q4 2023.
- Non-GAAP operating income of $19.5 to $20.5 million is expected for Q4 2023.
- Total revenue of $557.9 to $558.9 million is expected for the full year 2023.
- Non-GAAP operating income of $43.8 to $44.8 million is expected for the full year 2023.
- Amortization is expected to be approximately $10.9 million for Q4 2023.
Challenges Ahead
- Stock-based compensation and related payroll taxes are expected to be approximately $25.2 million for Q4 2023.
- 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.
- Projected GAAP operating income (loss) could be materially less than is indicated by currently estimated non-GAAP operating income.
- Actual results may differ materially from these forward-looking statements.
- New risks and uncertainties may emerge that could have an impact on the forward-looking statements.