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Dec 31, 2024
Jamf Q4 2024 Earnings Report
Jamf reported its financial results for the fourth quarter and fiscal year ended December 31, 2024, exceeding financial targets and showing growth in revenue and profitability.
Key Takeaways
Jamf announced strong financial results for Q4 2024, with total revenue increasing by 8% year-over-year to $163.0 million and ARR growing by 10% to $646.0 million. The company also achieved a significant improvement in GAAP operating loss and a substantial increase in Non-GAAP operating income.
Q4 total revenue grew 8% year-over-year to $163.0 million.
ARR increased 10% year-over-year to $646.0 million as of December 31, 2024.
GAAP operating loss improved to $12.2 million from $20.3 million in Q4 2023.
Non-GAAP operating income rose to $29.7 million, or 18% of total revenue, from $21.1 million in Q4 2023.
Jamf
Jamf
Jamf Revenue by Segment
Revenue by Segment
Subscription Revenue
CapyFin.comServices Revenue
CapyFin.comLicense Revenue
CapyFin.com Forward Guidance
For the first quarter of 2025, Jamf expects total revenue between $165.5 million and $167.5 million, and Non-GAAP operating income between $35.5 million and $37.5 million. For the full year 2025, total revenue is expected to be between $675.5 million and $680.5 million, with Non-GAAP operating income between $142.5 million and $146.5 million, and unlevered free cash flow growth of at least 75%.
Positive Outlook
- Expected Q1 2025 total revenue of $165.5 million to $167.5 million.
- Expected Q1 2025 Non-GAAP operating income of $35.5 million to $37.5 million.
- Expected FY 2025 total revenue of $675.5 million to $680.5 million.
- Expected FY 2025 Non-GAAP operating income of $142.5 million to $146.5 million.
- Expected FY 2025 unlevered free cash flow growth of at least 75%.
Challenges Ahead
- Amortization for Q1 2025 is expected to be approximately $9.7 million.
- Amortization for FY 2025 is expected to be approximately $38.1 million.
- Stock-based compensation and related payroll taxes for Q1 2025 are expected to be approximately $26.2 million.
- Stock-based compensation and related payroll taxes for FY 2025 are expected to be approximately $112.5 million.
- Quantitative reconciliation of forward-looking non-GAAP operating income to GAAP operating income (loss) and unlevered free cash flow to cash flow from operations is not provided due to uncertainty of certain items.
Revenue & Expenses
Visualization of income flow from segment revenue to net income