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Sep 30, 2024
Jamf Q3 2024 Earnings Report
Jamf's third quarter results for 2024 were announced, showcasing revenue growth and strategic advancements.
Key Takeaways
Jamf reported a 12% year-over-year increase in total revenue, reaching $159.3 million, and a 12% year-over-year growth in ARR, reaching $635.0 million. The company's GAAP operating loss improved compared to the previous year, and non-GAAP operating income showed significant growth.
Total revenue increased by 12% year-over-year to $159.3 million.
ARR grew by 12% year-over-year, reaching $635.0 million as of September 30, 2024.
GAAP operating loss improved to $15.9 million, compared to $31.9 million in Q3 2023.
Security solutions achieved over $150 million in ARR, with Security ARR reaching $151.5 million, representing 26% year-over-year growth.
Jamf
Jamf
Jamf Revenue by Segment
Revenue by Segment
Subscription Revenue
CapyFin.comServices Revenue
CapyFin.comLicense Revenue
CapyFin.com Forward Guidance
For the fourth quarter of 2024, Jamf expects total revenue of $161.9 to $162.9 million and non-GAAP operating income of $25.5 to $26.5 million. For the full year 2024, Jamf expects total revenue of $626.3 to $627.3 million and non-GAAP operating income of $98.8 to $99.8 million.
Positive Outlook
- Total revenue expected to be $161.9 to $162.9 million for Q4 2024.
- Non-GAAP operating income expected to be $25.5 to $26.5 million for Q4 2024.
- Full year 2024 total revenue expected to be $626.3 to $627.3 million.
- Full year 2024 non-GAAP operating income expected to be $98.8 to $99.8 million.
- Amortization is expected to be approximately $9.9 million for Q4 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).
- 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, and other 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.
- Actual results may differ materially from these forward-looking statements due to risks and uncertainties.
Revenue & Expenses
Visualization of income flow from segment revenue to net income