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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.
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.
Historical Earnings Impact
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