Jamf Holding Corp (JAMF) Q1 2025 Earnings Call Highlights: Strong Revenue Growth and Strategic ...
Q : What is the strategy for marketing Jamf for Mac compared to the Jamf business plan? A : John Strossel, CEO, clarified that the Jamf business plan targets smaller businesses, while Jamf for Mac is designed for enterprise customers. The enterprise solution is tailored to meet the needs of larger organizations, offering a more comprehensive security and management package.
Q : How does Jamf plan to expand the identity automation solution beyond the education market into commercial markets? A : John Strossel, CEO, explained that while the initial focus is on education, there is significant potential to extend the solution to commercial markets. The solution's ability to dynamically adjust access and security policies based on context is beneficial for industries like retail and healthcare. Henry Patel, Chief Strategy Officer, added that the goal is to enhance workflows by tying identity to devices, particularly focusing on Apple devices.
Despite strong demand, the company maintained its revenue outlook due to uncertainties in the macroeconomic environment.
The company faces headwinds from currency fluctuations, with a $2 to $3 million impact expected for the remainder of the year.
Unlevered free cash flow margin decreased slightly to 12.3% due to the timing of billings and collections.
Recurring revenue, while growing at 11%, represents 98% of total revenues, indicating a decline in less strategic sources such as services and licenses.
The acquisition of Identity Automation is expected to enhance Jamf's Apple-first security platform, particularly in mobile-centric industries, and expand their presence in education with over 500 customers.
The successful launch of new platform solutions, Jamf for Mac and Jamf for K-12, has enhanced their platform capabilities and driven strong education performance.
Total Annual Recurring Revenue (ARR) grew by 9% year-over-year to $658 million, with strong new logo bookings in both commercial and education sectors.
For the complete transcript of the earnings call, please refer to the full earnings call transcript .
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Q: Why did Jamf maintain its guidance despite strong demand? A: David Ruto, CFO, stated that while demand remains strong, maintaining guidance is a prudent approach given the current macroeconomic uncertainties. The company is monitoring the market closely and will adjust guidance if necessary.
Q: How does the weakening USD impact Jamf's international demand and pricing strategy? A: David Ruto, CFO, explained that Jamf has transitioned to billing in local currencies, which provides flexibility and could potentially drive demand. However, the weakening USD has a negative impact on costs due to international expenses.
Q: What has been the initial reception of the identity automation acquisition from customers and partners? A: John Strossel, CEO, noted that the acquisition has been well-received, with the first deal closed shortly after the acquisition. The integration with existing go-to-market strategies is progressing well, and the company is optimistic about expanding into new industries beyond education.
Q: Can you elaborate on the drivers behind the acceleration in net new ARR? A: John Strossel, CEO, highlighted that the release of Mac for Enterprise and Mobile for Enterprise contributed to the acceleration. The demand for mobile security and management solutions remains strong, particularly in sectors like healthcare and financial services.
Q: How might potential tariffs on Apple devices affect Jamf's business? A: John Strossel, CEO, mentioned that while there is no direct impact, an increase in Apple device adoption due to tariff-related purchases could expand Jamf's footprint. Apple has historically navigated such challenges effectively.
Q: What is the outlook for Jamf's cloud marketplace momentum, particularly with Azure? A: John Strossel, CEO, expressed optimism about the Azure marketplace, noting early traction and pipeline building. The company expects Azure to perform similarly to AWS, which has been a strong channel for Jamf.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
This article first appeared on GuruFocus.
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