Jamf Holding (JAMF) 10-Q 2 Sep 20 2020 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2020	Aug. 26, 2020
Document and Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2020
Entity File Number	001-39399
Entity Registrant Name	JAMF HOLDING CORP.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	82-3031543
Entity Address, Address Line One	100 Washington Ave S
Entity Address, Address Line Two	Suite 1100
Entity Address, City or Town	Minneapolis
Entity Address, State or Province	MN
Entity Address, Postal Zip Code	55401
City Area Code	612
Local Phone Number	605-6625
Title of 12(b) Security	Common Stock, $0.001 par value per share
Trading Symbol	JAMF
Security Exchange Name	NASDAQ
Entity Current Reporting Status	No
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		116,448,284
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001721947
Amendment Flag	false

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 38,424	$ 32,433
Trade accounts receivable, net	53,275	46,513
Income taxes receivable	554	14
Deferred contract costs, current	7,270	5,553
Prepaid expenses	10,880	10,935
Other current assets	6,314	3,133
Total current assets	116,717	98,581
Equipment and leasehold improvements, net	11,494	12,477
Goodwill	539,818	539,818
Other intangible assets, net	218,430	235,099
Deferred contract costs, noncurrent	20,334	16,234
Other assets	2,557	2,599
Total assets	909,350	904,808
Current liabilities:
Accounts payable	3,909	3,684
Accrued liabilities	26,099	26,927
Income taxes payable	1,081	819
Deferred revenues	130,309	120,089
Total current liabilities	161,398	151,519
Deferred revenues, noncurrent	27,429	20,621
Deferred tax liability	14,913	18,133
Debt	201,891	201,319
Other liabilities	6,876	9,338
Total liabilities	412,507	400,930
Stockholders' equity:
Common stock, $0.001 par value, 132,000,000 shares authorized, 102,862,404 and 102,843,612 shares issued and outstanding at June 30, 2020 and December 31, 2019, respectively	103	103
Additional paid-in capital	570,434	568,756
Accumulated deficit	(73,694)	(64,981)
Total stockholders' equity	496,843	503,878
Total liabilities and stockholders' equity	$ 909,350	$ 904,808

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2020	Dec. 31, 2019
CONSOLIDATED BALANCE SHEETS
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	132,000,000	132,000,000
Common stock, shares issued	102,862,404	102,843,612
Common stock, shares outstanding	102,862,404	102,843,612

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Revenues [Abstract]
Revenue	$ 62,231	$ 48,310	$ 122,621	$ 92,438
Cost of revenue:
Amortization expense	2,678	2,513	5,355	4,954
Total cost of revenue	13,647	13,485	28,658	26,526
Gross profit	48,584	34,825	93,963	65,912
Operating expenses:
Sales and marketing	20,202	16,612	42,484	31,888
Research and development	11,929	9,491	24,546	18,534
General and administrative	6,603	7,534	17,892	14,797
Amortizaton expense	5,634	5,626	11,308	11,259
Total operating expenses	44,368	39,263	96,230	76,478
Income (loss) from operations	4,216	(4,438)	(2,267)	(10,566)
Interest expense, net	(4,690)	(5,481)	(9,468)	(10,952)
Foreign currency transaction loss	(13)	(197)	(317)	(450)
Other income, net	36	55	91	110
Loss before income tax benefit	(451)	(10,061)	(11,961)	(21,858)
Income tax benefit	28	2,390	3,248	5,177
Net loss	$ (423)	$ (7,671)	$ (8,713)	$ (16,681)
Net loss per share, basic and diluted	$ 0	$ (0.07)	$ (0.08)	$ (0.16)
Weighted-average shares used to compute net loss per share, basic and diluted	102,862,404	102,709,405	102,861,475	102,694,756
Subscription
Revenues [Abstract]
Revenue	$ 52,978	$ 37,216	$ 103,056	$ 70,956
Cost of revenue:
Cost of revenue	8,762	7,423	18,010	14,380
Services/Professional Services
Revenues [Abstract]
Revenue	2,451	4,794	6,461	9,295
Cost of revenue:
Cost of revenue	2,207	3,549	5,293	7,192
License
Revenues [Abstract]
Revenue	$ 6,802	$ 6,300	$ 13,104	$ 12,187

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Total
Balance at Dec. 31, 2018	$ 103	$ 565,372	$ (32,381)	$ 533,094
Balance (shares) at Dec. 31, 2018	102,649,701
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, SBC		658		658
Issuance of common stock, SBC (shares)	119,623
Share-based compensation		1,218		1,218
Net loss			(16,681)	(16,681)
Balance at Jun. 30, 2019	$ 103	567,248	(49,062)	518,289
Balance (shares) at Jun. 30, 2019	102,769,324
Balance at Mar. 31, 2019	$ 103	566,177	(41,391)	524,889
Balance (shares) at Mar. 31, 2019	102,692,784
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, SBC		422		422
Issuance of common stock, SBC (shares)	76,540
Share-based compensation		649		649
Net loss			(7,671)	(7,671)
Balance at Jun. 30, 2019	$ 103	567,248	(49,062)	518,289
Balance (shares) at Jun. 30, 2019	102,769,324
Balance at Dec. 31, 2019	$ 103	568,756	(64,981)	503,878
Balance (shares) at Dec. 31, 2019	102,843,612
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, SBC		103		103
Issuance of common stock, SBC (shares)	18,792
Share-based compensation		1,575		1,575
Net loss			(8,713)	(8,713)
Balance at Jun. 30, 2020	$ 103	570,434	(73,694)	496,843
Balance (shares) at Jun. 30, 2020	102,862,404
Balance at Mar. 31, 2020	$ 103	569,670	(73,271)	496,502
Balance (shares) at Mar. 31, 2020	102,862,404
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation		764		764
Net loss			(423)	(423)
Balance at Jun. 30, 2020	$ 103	$ 570,434	$ (73,694)	$ 496,843
Balance (shares) at Jun. 30, 2020	102,862,404

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash flows from operating activities
Net loss	$ (8,713)	$ (16,681)
Adjustments to reconcile net loss to cash provided by (used in) operating activities:
Depreciation and amortization expense	19,002	18,085
Amortization of deferred contract costs	4,218	2,795
Amortization of debt issuance costs	571	571
Provision for bad debt expense and returns	812
Loss (gain) on disposal of equipment and leasehold improvements	12	(7)
Share-based compensation	1,575	1,218
Deferred taxes	(3,217)	(5,407)
Adjustment to contingent consideration	(3,700)
Changes in operating assets and liabilities:
Trade accounts receivable	(7,374)	(10,637)
Income tax receivable/payable	(278)	(226)
Prepaid expenses and other assets	429	(2,663)
Deferred contract costs	(10,035)	(8,701)
Accounts payable	258	(1,437)
Accrued liabilities	(2,371)	(828)
Deferred revenue	17,028	14,207
Other liabilities	1,240	(8)
Net cash provided by (used in) operating activities	9,457	(9,719)
Cash flows from investing activities
Acquisition, net of cash acquired		(35,306)
Purchases of equipment and leasehold improvements	(1,366)	(3,319)
Net cash used in investing activities	(1,366)	(38,625)
Cash flows from financing activities
Proceeds from credit agreements		40,000
Debt issuance costs		(1,550)
Cash paid for offering costs	(2,203)
Proceeds from the exercise of stock options	103	656
Net cash provided by financing activities	(2,100)	39,106
Net increase (decrease) in cash	5,991	(9,238)
Cash, beginning of period	32,433	39,240
Cash, end of period	38,424	30,002
Supplemental disclosures of cash flow information:
Cash paid for interest	9,262	10,568
Cash paid for income taxes, net of refunds	411	$ 451
Offering costs accrued but not yet paid	$ 2,865

Basis of presentation and descr

Basis of presentation and description of business	6 Months Ended
	Jun. 30, 2020
Basis of presentation and description of business
Basis of presentation and description of business	Note 1. Basis of presentation and description of business Description of business Jamf Holding Corp. and its wholly owned subsidiaries, collectively, are referred to as the “Company”, “we”, “us” or “our.” We are the standard in Apple Enterprise Management, and our cloud software platform is the only vertically-focused Apple infrastructure and security platform of scale in the world. We help organizations connect, manage and protect Apple products, apps and corporate resources in the cloud without ever having to touch the devices. With our products, Apple devices can be deployed to employees brand new in the shrink-wrapped box, automatically set up and personalized at first power-on and continuously administered throughout the life of the device. Our customers are located throughout the world. Emerging growth company status We are an emerging growth company, as defined in the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). Under the JOBS Act, emerging growth companies can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act, until such time as those standards apply to private companies. We have elected to use this extended transition period for complying with new or revised accounting standards that have different effective dates for public and private companies until the earlier of the date that it is (i) no longer an emerging growth company or (ii) affirmatively and irrevocably opt out of the extended transition period provided in the JOBS Act. As a result, our consolidated financial statements may not be comparable to companies that comply with the new or revised accounting pronouncements as of public company effective dates. We will remain an emerging growth company until the earliest of (i) the last day of the first fiscal year (a) following the fifth anniversary of the completion of our offering, (b) in which our total annual gross revenue is at least $1.07 billion or (c) when we are deemed to be a large accelerated filer, which means the market value of our common stock that is held by non-affiliates exceeds $700.0 million as of the prior June 30, and (ii) the date on which we have issued more than $1.0 billion in non-convertible debt securities during the prior three-year period. Basis of presentation The accompanying consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and include all adjustments necessary for the fair presentation of the consolidated financial position, results of operations, and cash flows of the Company. Vista Equity Partners acquisition On November 13, 2017, Vista Equity Partners ("Vista") acquired a majority share of all the issued and outstanding shares of the Company at the purchase price of $733.8 million (the "Vista Acquisition"). As of June 30, 2020, funds controlled by Vista owned approximately 89.5% of our outstanding common stock. Unaudited Interim Consolidated Financial Information The accompanying interim consolidated balance sheet as of June 30, 2020, the consolidated statements of operations and of stockholders’ equity for the three and six months ended June 30, 2020 and 2019 and the consolidated statements of cash flows for the six months ended June 30, 2020 and 2019 and the related footnote disclosures are unaudited. These unaudited interim consolidated financial statements have been prepared on the same basis as the annual consolidated financial statements and, in management’s opinion, include all adjustments necessary for the fair presentation of the consolidated financial position, results of operations, and cash flows of the Company. The results for the three and six months ended June 30, 2020 are not necessarily indicative of the results to be expected for the year ending December 31, 2020 or for any future period. Use of estimates The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities as of the reporting date, and the reported amounts of revenues and expenses during the reporting period. These estimates are based on management’s best knowledge of current events and actions that the Company may undertake in the future and include, but are not limited to, revenue recognition, stock-based compensation, commissions, goodwill and accounting for income taxes. Actual results could differ from those estimates. Segment and Geographic Information Our chief operating decision maker (“CODM”) is our Chief Executive Officer, who reviews financial information presented on a consolidated basis for purposes of making operating decisions, assessing financial performance and allocating resources. We operate our business as one operating segment and therefore we have one reportable segment. Revenue by geographic region as determined based on the end user customer address was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ ​ June 30, ​ June 30, ​ 2020 2019 2020 2019 ​ ​ (in thousands) Revenue: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The Americas ​ $ 49,558 ​ $ 36,537 ​ $ 97,879 ​ $ 70,521 Europe, the Middle East, India, and Africa ​ 9,199 ​ 9,068 ​ 18,025 ​ 16,659 Asia Pacific ​ 3,474 ​ 2,705 ​ 6,717 ​ 5,258 ​ ​ $ 62,231 ​ $ 48,310 ​ $ 122,621 ​ $ 92,438 ​

Summary of significant accounti

Summary of significant accounting policies	6 Months Ended
	Jun. 30, 2020
Summary of significant accounting policies
Summary of significant accounting policies	Note 2. Summary of significant accounting policies The Company’s significant accounting policies are discussed in Note 2 to the consolidated financial statements included in our final prospectus (the “IPO Prospectus”) for our initial public offering (“IPO”) dated as of July 21, 2020 and filed with the Securities and Exchange Commission (the “SEC”) pursuant to Rule 424(b)(4) under the Securities Act of 1933, as amended (the “Securities Act”). There have been no significant changes to these policies that have had a material impact on the Company’s consolidated financial statements and related notes for the three and six months ended June 30, 2020. The following describes the impact of certain policies. Deferred offering costs Offering costs are capitalized and consist of fees incurred in connection with the sale of common stock in our IPO and include legal, accounting, printing, and other IPO-related costs. The balance of deferred offering costs included within other current assets at June 30, 2020 and December 31, 2019 was $5.8 million and $2.3 million, respectively. Upon completion of our IPO, these deferred costs were reclassified to stockholders’ equity and recorded against the proceeds from the offering. During the three and six months ended June 30, 2020, we paid offering costs of $0.7 million and $2.2 million, respectively. Share-based compensation The Company applies the provisions of ASC Topic 718, Compensation — Stock Compensation (“ASC 718”), in its accounting and reporting for stock-based compensation. ASC 718 requires all stock-based payments to employees, including grants of employee stock options, to be recognized in the income statement based on their fair values. All service-based options outstanding under the Company’s option plans have exercise prices equal to the fair value of the Company’s stock on the grant date. The fair value of these service options is determined using the Black-Scholes option pricing model. The estimated fair value of service-based awards is recognized as compensation expense over the applicable vesting period. All awards expire after 10 years. The fair value of each grant of service options was determined by the Company using the methods and assumptions discussed below. Each of these inputs is subjective and generally requires judgment to determine. Compensation cost for restricted stock units is determined based on the fair market value of the Company’s stock at the date of the grant. Stock-based compensation expense is generally recognized over the required service period. Forfeitures are accounted for when they occur. The Company also grants performance-based awards to certain executives that vest and become exercisable when Vista Equity Partners’, our equity sponsor (“Vista”) realized cash return on its investment in the Company equals or exceeds $1.515 billion upon a change in control of the Company (“Termination Event”). The terms of the agreement do not specify a performance period for the occurrence of the Termination Event. The contractual term of the awards is 10 years. These options are also referred to as return target options. The Company uses a Modified Black-Scholes option pricing model which uses Level 3 inputs for fair value measurement. In conjunction with the IPO, the vesting conditions of the performance-based awards were modified to also vest following an IPO and registration and sale of shares by Vista whereby Vista still must achieve a cash return on its equity investment in the Company equaling or exceeding $1.515 billion. In accordance with ASC 718, we calculated the fair value of these options on the modification date. The value of these options increased from $13.8 million prior to modification to $33.0 million on the date of modification as of June 30, 2020. As the awards are not currently considered probable of meeting vesting requirements no expense has been recognized, and the timing of any future expense recognition is unknown. Revenue recognition The Company applies ASC Topic 606, Revenue from Contracts with Customers Disaggregation of Revenue The Company separates revenue into recurring and non-recurring categories to disaggregate those revenues that are one-time in nature from those that are term-based and renewable. Revenue from recurring and non-recurring contractual arrangements are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ ​ June 30, ​ June 30, ​ 2020 2019 2020 2019 ​ ​ (in thousands) SaaS subscription and support and maintenance ​ $ 52,978 ​ $ 37,216 ​ $ 103,056 ​ $ 70,956 On‑premise subscription ​ 5,770 ​ 4,048 ​ 10,310 ​ 7,089 Recurring revenue ​ 58,748 ​ 41,264 ​ 113,366 ​ 78,045 Perpetual licenses ​ 1,032 ​ 2,252 ​ 2,794 ​ 5,098 Professional services ​ 2,451 ​ 4,794 ​ 6,461 ​ 9,295 Non‑recurring revenue ​ 3,483 ​ 7,046 ​ 9,255 ​ 14,393 Total revenue ​ $ 62,231 ​ $ 48,310 ​ $ 122,621 ​ $ 92,438 ​ Contract Balances Contract liabilities consist of customer billings in advance of revenue being recognized. The Company invoices its customers for subscription, support and maintenance and services in advance. Changes in contract liabilities were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ ​ June 30, ​ June 30, ​ 2020 2019 2020 2019 ​ ​ (in thousands) Balance, beginning of the period ​ $ 145,735 ​ $ 111,255 ​ $ 140,710 ​ $ 100,662 Revenue earned ​ (49,562) ​ (42,277) ​ (97,285) ​ (76,884) Deferral of revenue ​ 61,565 ​ 48,941 ​ 114,313 ​ 94,141 Balance, end of the period ​ $ 157,738 ​ $ 117,919 ​ $ 157,738 ​ $ 117,919 ​ There were no significant changes to our contract assets and liabilities during the three and six months ended June 30, 2020 and 2019 outside of our sales activities. Remaining Performance Obligations Revenue allocated to remaining performance obligations represents contracted revenue that has not yet been recognized, which includes deferred revenue and noncancelable amounts to be invoiced. As of June 30, 2020 and December 31, 2019, the Company had $170.2 million and $149.5 million, respectively, of remaining performance obligations, with 84% and 86%, respectively, expected to be recognized as revenue over the succeeding 12 months, and the remainder expected to be recognized over the three years thereafter. Deferred Contract Costs Sales commissions as well as associated payroll taxes and retirement plan contributions (together, contract costs) that are incremental to the acquisition of customer contracts, are capitalized using a portfolio approach as deferred contract costs on the consolidated balance sheet when the period of benefit is determined to be greater than one year. Total amortization of contract costs for the three months ended June 30, 2020 and 2019 was $2.2 million and $1.5 million, respectively. Total amortization of contract costs for the six months ended June 30, 2020 and 2019 was $4.2 million and $2.8 million, respectively. The Company periodically reviews these deferred costs to determine whether events or changes in circumstances have occurred that could affect the period of benefit of these deferred contract costs. There were no impairment losses recorded during the three and six months ended June 30, 2020 and 2019. For the three and six months ended June 30, 2020, the Company had two distributors that accounted for more than 10% of total net revenues. Total receivables related to these distributors were $19.3 million at June 30, 2020. For the three and six months ended June 30, 2019, the Company had one distributor that accounted for more than 10% of total net revenues. Total receivables related to this distributor were $6.0 million at December 31, 2019. Recently issued accounting pronouncements not yet adopted From time to time, new accounting pronouncements are issued by the FASB, or other standard setting bodies and adopted by us as of the specified effective date. Unless otherwise discussed, the impact of recently issued standards that are not yet effective will not have a material impact on our financial position or results of operations upon adoption. ​ Financial Instruments — Credit Losses In June 2016, the FASB issued Accounting Standards Update (“ASU”) No. 2016-13, Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments Financial Instruments — Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842): Effective Dates Leases (Topic 842) Fair Value Measurement — Disclosure Framework In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework — Changes to the Disclosure Requirements for Fair Value Measurement Fair Value Measurements Leases In February 2016, the FASB issued ASU 2016-02. The update requires lessees to put most leases on their balance sheets while recognizing expenses on their income statements in a manner similar to current GAAP. The guidance also eliminates current real estate-specific provisions for all entities. For lessors, the guidance modifies the classification criteria and the accounting for sales-type and direct financing leases. In June 2020, the FASB issued ASU No. 2020-05, Revenue from Contracts with Customers (Topic 606) and Leases (Topic 842): Effective Dates for Certain Entities Income Taxes In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12”), which simplifies the accounting for income taxes, eliminates certain exceptions to the general principles in Topic 740 and clarifies certain aspects of the current guidance to improve consistent application among reporting entities. ASU 2019-12 is effective for fiscal years beginning after December 15, 2021 and interim periods within annual periods beginning after December 15, 2022. Early adoption is permitted. The method of adoption varies for the provisions in the update. The Company is currently evaluating the effect the standard will have on its consolidated financial statements. Reference Rate Reform In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting (“ASU 2020-04”), which provides entities with temporary optional financial reporting alternatives to ease the potential burden in accounting for reference rate reform and includes a provision that allows entities to account for a modified contract as a continuation of an existing contract. ASU 2020-04 is effective upon issuance and can be applied through December 31, 2022. The Company is currently evaluating the effect the standard will have on its consolidated financial statements. Adoption of new accounting pronouncements Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract In March 2018, the FASB issued ASU No. 2018-15, Intangibles — Goodwill and Others — Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract Improvements to Nonemployee Share-Based Payment Accounting In June 2018, the FASB issued ASU No. 2018-07, Compensation — Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting December 15, 2019, including interim periods within those periods, and early adoption is permitted. The Company adopted the new standard in the first quarter of fiscal year 2020. The adoption did not have an impact on the Company’s consolidated financial statements as the Company does not have any nonemployee share-based payment awards.

Financial instruments fair valu

Financial instruments fair value	6 Months Ended
	Jun. 30, 2020
Financial instruments fair value
Financial instruments fair value	Note 3. Financial instruments fair value We report financial assets and liabilities and nonfinancial assets and liabilities that are recognized or disclosed at fair value in the consolidated financial statements on a recurring basis in accordance with ASC Topic 820. ASC 820 defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities, which are required to be recorded at fair value, we consider the principal or most advantageous market in which we would transact and the market-based risk measurements or assumptions that market participants would use in pricing the asset or liability, such as inherent risk, transfer restrictions and credit risk. ASC 820 also establishes a fair value hierarchy, which prioritizes the inputs to valuation techniques used to measure fair value into three levels. Fair value represents the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. GAAP established a hierarchy framework to classify the fair value based on the observability of significant inputs to the measurement. The levels of the fair value hierarchy are as follows: Level 1: Fair value is determined using an unadjusted quoted price in an active market for identical assets or liabilities. Level 2: Fair value is estimated using inputs other than quoted prices included within Level 1 that are observable, either directly or indirectly. Level 3: Fair value is estimated using unobservable inputs that are significant to the fair value of the assets or liabilities. The carrying value of cash and cash equivalents, accounts receivable and accounts payable approximate their fair value. The fair value of our debt at June 30, 2020 and December 31, 2019 was $203.4 million and $203.1 million, respectively (Level 2). The carrying value of our debt as of both June 30, 2020 and December 31, 2019 was $205.0 million. The fair value of our debt was determined using discounted cash flow analysis based on market rates for similar types of borrowings.

Acquisitions

Acquisitions	6 Months Ended
	Jun. 30, 2020
Acquisitions
Acquisitions	Note 4. Acquisitions ZuluDesk B.V. On February 1, 2019, the Company purchased all of the outstanding membership units of ZuluDesk B.V. whose products are designed to offer a cost-effective mobile device management system for today’s modern digital classroom. ZuluDesk B.V’s software complement the Company’s existing product offerings. The Company accounted for the acquisition by applying the acquisition method of accounting for business combinations in accordance with ASC Topic 805. The final aggregate purchase price was approximately $38.6 million. This acquisition was funded by term debt, and borrowings under a revolving line of credit. The goodwill represents the excess of the purchase consideration over the fair value of the underlying net identifiable assets. The goodwill recognized in this acquisition is primarily attributable to the offerings in mobile device management of ZuluDesk B.V. and its assembled workforce. The goodwill is not deductible for income tax purposes. The fair value of the separately identifiable intangible assets acquired, consisting of trademarks, customer relationships and developed technology, was estimated by applying an income approach. Under the income approach, an intangible asset’s fair value is equal to the present value of future economic benefits to be derived from ownership of the asset. Indications of value are developed by discounting future net cash flows to their present value at market-based rates of return. The weighted-average economic life of the intangible assets acquired is 7.0 years. For more details on the intangible assets, see Note 5. Acquisition-related expenses were expensed as incurred and totaled $0.9 million for the three and six months ended June 30, 2019. These expenses were recognized as acquisition costs in general and administrative expenses. ZuluDesk B.V. contributed revenue and net loss of $1.0 million and $0.3 million, respectively, during the three months ended June 30, 2019, excluding the effects of the acquisition and integration costs. ZuluDesk B.V. contributed revenue and net loss of $1.5 million and $0.5 million, respectively, during the six months ended June 30, 2019, excluding the effects of the acquisition and integration costs. The Company used its then-existing term loan facility (the “Term Loan Facility”) of $175.0 million with a maturity date of November 13, 2022 under its secured credit agreement entered into November 13, 2017 (the “Prior Credit Agreement”), which was increased to $205.0 million on January 30, 2019 when the Company entered into that certain Amendment Agreement No. 1 to such Prior Credit Agreement, to complete the acquisition and approximately $0.5 million of debt issuances costs were capitalized as a reduction in Debt on the balance sheet. These costs are amortized over the course of the debt agreements. The Company allocated the net purchase consideration to the net assets acquired, including finite-lived intangible assets, based on their respective fair values at the time of the acquisition as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ Assets acquired: ​ Cash ​ $ 3,325 Other current assets ​ 1,306 Long‑term assets ​ 154 Liabilities assumed: ​ Accounts payable and accrued liabilities ​ (419) Deferred revenue ​ (3,050) Deferred tax liability ​ (2,996) Intangible assets acquired ​ 12,310 Goodwill ​ 28,000 Total purchase consideration ​ $ 38,630 ​ Digita Security LLC On July 26, 2019, the Company purchased all of the outstanding membership interests of Digita Security LLC (“Digita”). With this acquisition, Digita’s acquired technology will complement the Company’s existing Apple management, authentication and account management solutions with a security offering to provide a more robust suite of capabilities and service offerings in the Apple enterprise market. The Company accounted for the acquisition by applying the acquisition method of accounting for business combinations in accordance with ASC Topic 805. The acquisition aggregate purchase consideration totaled $14.4 million which included contingent purchase consideration with an estimated fair value of $9.0 million and the remainder provided for with cash. Acquisition-related expenses were expensed as incurred. Goodwill in the amount of $1.7 million is deductible for income tax purposes. The maximum contingent consideration is $15.0 million if the acquired business achieves certain revenue milestones by December 31, 2022. The estimated fair value of these contingent payments was determined using a Monte Carlo simulation model, which uses Level 3 inputs for fair value measurements, including assumptions about probability of growth of subscription services and the related pricing of the services offered. During the three and six months ended June 30, 2020, the fair value of the contingent consideration was decreased by $3.7 million, which was included in general and administrative expenses in the consolidated statement of operations. This adjustment reflects updated assumptions about the probability of change in control in light of our initial public offering. At June 30, 2020 and December 31, 2019, the contingent consideration was $5.5 million and $9.2 million, respectively, which was included in other liabilities in the consolidated balance sheet. In addition, the terms of the purchase agreement provide for additional future payments to the Digita shareholders in the amount of up to $5.0 million if certain key employees continue their employment with the Company through December 31, 2020, which will be recognized as a compensation expense in our consolidated statement of operations. The Company paid and recognized as expense $1.6 million and $3.2 million during the three and six months ended June 30, 2020. The fair value of the acquired developed technology was estimated by discounting future net cash flows to their present value at market-based rates of return (income approach). The estimated useful life of the acquired developed technology is estimated to be 5 years. For more details on the Company’s intangible assets, see Note 5, Goodwill and other intangible assets. Pro forma results of operations for this acquisition were not presented as the effects were not material to our financial results. The following table summarizes the fair value of consideration transferred and the estimated fair values of the assets acquired and liabilities assumed at the date of acquisition (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ Assets acquired: ​ Cash ​ $ 512 Other current assets ​ 1 Long‑term assets ​ 12 Liabilities assumed: ​ Accounts payable and accrued liabilities ​ (119) Intangible assets acquired ​ 3,300 Goodwill ​ 10,673 Total purchase consideration ​ $ 14,379 ​

Goodwill and other intangible a

Goodwill and other intangible assets	6 Months Ended
	Jun. 30, 2020
Goodwill and other intangible assets
Goodwill and other intangible assets	Note 5. Goodwill and other intangible assets The change in the carrying amount of goodwill is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ ​ June 30, ​ June 30, ​ 2020 2019 2020 2019 ​ ​ (in thousands) Goodwill, beginning of period ​ $ 539,818 ​ $ 529,145 ​ $ 539,818 ​ $ 501,145 Goodwill acquired ​ — ​ — ​ — ​ 28,000 Goodwill, end of period ​ $ 539,818 ​ $ 529,145 ​ $ 539,818 ​ $ 529,145 ​ The gross carrying amount and accumulated amortization of intangible assets other than goodwill are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ‑ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Average ​ ​ ​ ​ ​ ​ ​ Accumulated ​ Net Carrying Remaining ​ ​ Useful Life ​ Gross Value ​ Amortization ​ Value Useful Life ​ ​ ​ ​ (in thousands) ​ ​ Trademarks ​ 1‑8 years ​ 34,320 ​ 9,167 ​ 25,153 5.8 years Customer relationships ​ 2‑12 years ​ 214,320 ​ 37,564 ​ 176,756 9.7 years Developed technology ​ 5 years ​ 53,560 ​ 20,419 ​ 33,141 3.2 years Non‑competes ​ 2 years ​ 90 ​ 41 ​ 49 1.1 years Balance, December 31, 2019 ​ ​ ​ $ 302,290 ​ $ 67,191 ​ $ 235,099 Trademarks ​ 8 years ​ 34,320 ​ 11,310 ​ 23,010 5.3 years Customer relationships ​ 2‑12 years ​ 214,320 ​ 46,711 ​ 167,609 9.2 years Developed technology ​ 5 years ​ 53,560 ​ 25,775 ​ 27,785 2.7 years Non‑competes ​ 2 years ​ 90 ​ 64 ​ 26 0.6 years Balance, June 30, 2020 ​ ​ ​ $ 302,290 ​ $ 83,860 ​ $ 218,430 ​ Amortization expense was $8.3 million and $8.1 million for the three months ended June 30, 2020 and 2019, respectively. Amortization expense was $16.7 million and $16.2 million for the six months ended June 30, 2020 and 2019, respectively. There were no impairments to goodwill or intangible assets recorded for the three and six months ended June 30, 2020 and 2019.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2020
Commitments and Contingencies
Commitments and Contingencies	Note 6. Commitments and Contingencies Operating Leases The Company leases office facilities and office equipment under operating leases that expire at various dates through February 2030. The office facility leases require annual base rent, plus real estate taxes, utilities, insurance and maintenance costs. Total rent expense, including the Company’s share of the lessors’ operating expenses, was $1.3 million and $1.1 million for the three months ended June 30, 2020 and 2019, respectively, and $2.7 million and $2.0 million for the six months ended June 30, 2020 and 2019, respectively. Certain of these leases are with a related party. Rent expense with related parties, including the Company’s share of the lessors’ operating expenses, was $0.3 million and $0.2 million for the three months ended June 30, 2020 and 2019, respectively, and $0.5 million and $0.4 million for the six months ended June 30, 2020 and 2019, respectively. Hosting Services and Other Support Software Agreements The Company has various contractual agreements for hosting services and other support software. In March 2020, the Company entered into a new contractual agreement with an unrelated party for hosting services. As of June 30, 2020, future payments related to this contract are $4.3 million for the remainder of 2020, $9.3 million in 2021, $12.0 million in 2022 and $3.2 million in 2023. ​ Contingencies From time to time, the Company may be subject to various claims, charges and litigation. The Company records a liability when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. The Company maintains insurance to cover certain actions and believes that resolution of such claims, charges, or litigation will not have a material impact on the Company’s financial position, results of operations, or liquidity. The Company has recorded no liabilities for contingencies recorded as of June 30, 2020 and December 31, 2019.

Net Loss per Share

Net Loss per Share	6 Months Ended
	Jun. 30, 2020
Net Loss per Share
Net Loss per Share	Note 7. Net Loss per Share The following table sets forth the computation of basic and diluted net loss per share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ ​ June 30, ​ June 30, ​ 2020 2019 2020 2019 ​ ​ (in thousands, except share and per share data) Numerator: ​ ​ ​ ​ ​ ​ Net loss ​ $ (423) ​ $ (7,671) ​ $ (8,713) ​ $ (16,681) Denominator: ​ ​ ​ ​ ​ Weighted‑average shares used to compute net loss per share, basic and diluted ​ 102,862,404 ​ 102,709,405 ​ 102,861,475 ​ 102,694,756 Basic and diluted net loss per share ​ $ (0.00) ​ $ (0.07) ​ $ (0.08) ​ $ (0.16) ​ Basic net loss per share is computed by dividing the net loss by the weighted-average number of common shares outstanding for the period. Because we have reported a net loss for the three and six months ended June 30, 2020 and 2019, the number of shares used to calculate diluted net loss per common share is the same as the number of shares used to calculate basic net loss per common share because the potentially dilutive shares would have been antidilutive if included in the calculation. The following potentially dilutive securities outstanding have been excluded from the computation of diluted weighted-average shares outstanding because such securities have an antidilutive impact due to losses reported: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ ​ June 30, ​ June 30, ​ 2020 2019 2020 2019 Stock options outstanding 7,742,158 6,038,890 7,742,158 ​ 6,038,890 Unvested restricted stock units 36,520 25,520 36,520 ​ 25,520 Total potentially dilutive securities 7,778,678 6,064,410 7,778,678 ​ 6,064,410 ​

Long-term incentive plan

Long-term incentive plan	6 Months Ended
	Jun. 30, 2020
Long-term incentive plan
Long-term incentive plan	Note 8. Long-term incentive plan In 2018, the Company established a long-term incentive plan for certain employees. Under the plan, the employees will receive cash payments upon achievement of the same conditions of the Company’s return target options discussed previously. In conjunction with the IPO, the conditions of the long-term incentive plan were modified to also vest following an IPO and registration and sale of shares by Vista whereby Vista still must achieve a cash return on its equity investment in the Company equaling or exceeding $1.515 billion. The Company has established a pool of $7.0 million to provide these cash payments to employees. As of June 30, 2020, the Company had executed individual agreements with employees to pay $7.0 million upon achievement of the plan conditions. As of December 31, 2019, the Company had executed individual agreements with employees to pay $5.9 million upon achievement of the plan conditions. Consistent with the return target options, as of June 30, 2020 and December 31, 2019, no expense or liability has been recognized as the conditions for payment have not occurred.

Share-based compensation

Share-based compensation	6 Months Ended
	Jun. 30, 2020
Share-based compensation
Share-based compensation	Note 9. Share-based compensation ​ The 2017 Stock Option Plan (“2017 Option Plan”) became effective November 13, 2017, upon the approval of the board of directors and serves as the umbrella plan for the Company’s stock-based and cash-based incentive compensation program for its officers and other eligible employees. The aggregate number of shares of common stock that may be issued under the 2017 Option Plan may not exceed 8,470,000 shares. At June 30, 2020, 128,928 shares of common stock are reserved for additional grants under the Plan. All stock options granted by the Company were at an exercise price at or above the estimated fair market value of the Company’s common stock as of the grant date. No options were granted during the six months ended June 30, 2020. The table below summarizes return target options activity for the six months ended June 30, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ‑ ​ ​ ​ ​ ​ ​ ​ Weighted ‑ ​ Average ​ Aggregate ​ ​ ​ ​ Average ​ Remaining ​ Intrinsic ​ ​ ​ ​ Exercise ​ Contractual ​ Value ​ Options Price Term (Years) (in thousands) Outstanding, December 31, 2019 3,687,664 ​ $ 6.75 8.8 ​ $ 29,908 Granted — ​ — ​ ​ ​ Exercised — ​ — ​ ​ — Forfeitures — ​ — ​ ​ ​ Outstanding, June 30, 2020 3,687,664 ​ $ 6.75 8.3 ​ $ 39,644 Options exercisable at June 30, 2020 — ​ $ — — ​ $ — Vested or expected to vest at June 30, 2020 — ​ $ — — ​ $ — ​ There was approximately $33.0 million of unrecognized compensation expense related to these return target options at June 30, 2020. Restricted stock unit (“RSU”) activity for the six months ended June 30, 2020 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Per Unit ​ Units Fair Value Outstanding, December 31, 2019 36,520 ​ $ 12.60 Granted — ​ — Restrictions lapsed — ​ — Forfeited — ​ — Outstanding, June 30, 2020 36,520 ​ $ 12.60 ​ RSUs vest 100% on the one-year anniversary of the date of the grant. The estimated compensation cost of each RSU, which is equal to the fair value of the award on the date of grant, is recognized on a straight-line basis over the vesting period. At June 30, 2020, there was $0.2 million of total unrecognized compensation cost related to unvested restricted stock and that cost is expected to be recognized in the year. The table below summarizes the service-based option activity for the six months ended June 30, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ‑ ​ ​ ​ ​ ​ ​ ​ Weighted ‑ ​ Average ​ Aggregate ​ ​ ​ ​ Average ​ Remaining ​ Intrinsic ​ ​ ​ ​ Exercise ​ Contractual ​ Value ​ Options Price Term (Years) (in thousands) Outstanding, December 31, 2019 4,073,286 ​ $ 5.65 8.1 ​ $ 37,520 Granted — ​ — ​ ​ ​ Exercised (18,792) ​ 5.49 ​ ​ 60 Forfeitures — ​ — ​ ​ ​ Outstanding, June 30, 2020 4,054,494 ​ $ 5.65 7.6 ​ $ 48,044 Options exercisable at June 30, 2020 2,150,893 ​ $ 5.50 7.5 ​ $ 25,806 Vested or expected to vest at June 30, 2020 4,054,494 ​ $ 5.65 7.6 ​ $ 48,044 ​ The aggregate intrinsic value in the table above represents the total intrinsic value that would have been received by the optionholders had all optionholders exercised their options on the last date of the period. The total fair value of service-based options vested during the six months ended June 30, 2020 was $0.6 million. The Company recognized stock-based compensation expense for service-based stock options as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ ​ June 30, ​ June 30, ​ 2020 2019 2020 2019 ​ ​ (in thousands) Cost of revenues: ​ ​ ​ ​ ​ ​ Subscription ​ $ 38 ​ $ 55 ​ $ 76 ​ $ 118 Services ​ — ​ — ​ — ​ — Sales and marketing ​ 111 ​ 143 ​ 222 ​ 236 Research and development ​ 141 ​ 95 ​ 298 ​ 185 General and administrative ​ 474 ​ 356 ​ 979 ​ 679 ​ ​ $ 764 ​ $ 649 ​ $ 1,575 ​ $ 1,218 ​ There was $4.6 million of unrecognized compensation expense related to service-based stock options that is expected to be recognized over a weighted-average period of 2.1 years at June 30, 2020.

Income taxes

Income taxes	6 Months Ended
	Jun. 30, 2020
Income taxes
Income taxes	Note 10. Income taxes The Company’s effective tax rates for the three months ended June 30, 2020 and 2019 were 6.2% and 23.8% , respectively. The effective tax rate for the three months ended June 30, 2020 was impacted by $108 thousand of discrete income tax expense primarily due to the finalization of the net operating loss carryback changes related to the Coronavirus Aid, Relief, and Economic Security Act ("CARES Act"). The Company’s effective tax rates for the six months ended June 30, 2020 and 2019 were 27.2% and 23.7% , respectively. The effective tax rate for the six months ended June 30, 2020 was higher than the prior year period due to the impact of the net operating loss carryback and interest limitation changes related to the CARES Act, and a change in valuation allowance on foreign deferred tax assets related to a merger of subsidiaries. The effective tax rate for the six months ended June 30, 2020 was impacted by $210 thousand of discrete income tax benefit primarily due to the impact of the net operating loss carryback and interest limitation changes related to the CARES Act. On March 27, 2020, the CARES Act was signed into law. The CARES Act provides numerous tax provisions and other stimulus measures, including temporary changes regarding the prior and future utilization of net operating losses, temporary changes to the prior and future limitations on interest deductions, temporary suspension of certain payment requirements for the employer portion of social security taxes, the creation of certain refundable employee retention credits, and technical corrections from prior tax legislation for tax depreciation of certain qualified improvement property. The Company anticipates it will benefit from the prior and future utilization of net operating losses and interest deductions. Beginning with pay dates on and after April 17, 2020, the Company has elected to defer the employer-paid portion of social security taxes.

Related party transactions

Related party transactions	6 Months Ended
	Jun. 30, 2020
Related-party transactions
Related-party transactions	Note 11. Related-party transactions The Company made pledges to the JAMF Nation Global Foundation (“JNGF”) of $0.1 million for both the three and six months ended June 30, 2019. The Company did not make any pledges to JNGF for the three and six months ended June 30, 2020. As of June 30, 2020 and December 31, 2019, the Company’s accrued liabilities related to JNGF pledges were $0.6 million and $1.0 million, respectively, which are included in accrued expenses on the consolidated balance sheet. The Company has an ongoing lease agreement for office space in Eau Claire, Wisconsin, with an entity in which a related party is a minority owner. See Note 6 for further discussion of this lease agreement. Vista is a U.S.-based investment firm that controls the funds which own a majority of the Company. The Company has paid for consulting services and other expenses related to services provided by Vista and Vista affiliates. The total expenses incurred by the Company for these services with Vista were $0.1 million and $0.3 million for the three months ended June 30, 2020 and 2019, respectively, and $0.3 million and $0.6 million for the six months ended June 30, 2020 and 2019, respectively. The Company had less than $0.1 million in accounts payable related to these expenses at June 30, 2020. The Company had no amounts in accounts payable related to these expenses at December 31, 2019. The Company also has revenue arrangements with Vista affiliates. The Company recognized revenue related to these arrangements of $0.3 million and $0.2 million for the three months ended June 30, 2020 and 2019, respectively, and $0.6 million and $0.4 million for the six months ended June 30, 2020 and 2019, respectively. The Company had $0.2 million in accounts receivable related to these agreements at June 30, 2020. The Company had no amounts in accounts receivable related to these agreements at December 31, 2019. In addition, the Company pays for services with Vista affiliates in the normal course of business. The total expenses incurred by the Company for services with Vista affiliates were $0.1 million for both the three months ended June 30, 2020 and 2019 and $0.3 million for both the six months ended June 30, 2020 and 2019. The Company had less than $0.1 million in accounts payable related to these expenses at June 30, 2020. The Company had no amounts in accounts payable related to these expenses at December 31, 2019. Prior to its termination and repayment in full on July 27, 2020, the Company had the Term Loan Facility and, pursuant to the Company’s Prior Credit Agreement, a $15 million revolving credit facility with a maturity date of November 13, 2022 (the “Prior Revolving Credit Facility”) with a consortium of lenders for a principal amount of $205.0 million and principal committed amount of $15.0 million, respectively. At both June 30, 2020 and December 31, 2019, affiliates of Vista held $34.9 million of the Term Loan Facility and there were no amounts drawn on the Prior Revolving Credit Facility. During the three months ended June 30, 2020 and 2019, affiliates of Vista were paid $0.8 million and $1.0 million, respectively, in interest on the portion of the Term Loan Facility held by them. During the six months ended June 30, 2020 and 2019, affiliates of Vista were paid $1.6 million and $2.0 million, respectively, in interest on the portion of the Term Loan Facility held by them.

Subsequent events

Subsequent events	6 Months Ended
	Jun. 30, 2020
Subsequent events
Subsequent events	Note 12. Subsequent events On July 10, 2020, the Company effected a 110-for-1 stock split of its common stock. The par value of the common stock was not adjusted as a result of the stock split. Accordingly, all share and per share amounts for all periods presented in the accompanying consolidated financial statements and notes thereto have been adjusted retrospectively, where applicable, to reflect this stock split. On July 21, 2020, the Company adopted the Jamf Holding Corp. Omnibus Incentive Plan (the “2020 Plan”). The 2020 Plan provides for grants of (i) stock options, (ii) stock appreciation rights, (iii) restricted shares, (iv) performance awards, (v) other share-based awards and (vi) other cash-based awards to eligible employees, non-employee directors and consultants of the Company. The maximum number of shares of common stock available for issuance under the 2020 Plan is 14,800,000 shares . On July 24, 2020, the Company closed its IPO through which it issued and sold 13,500,000 shares of common stock at a price per share of $26.00. The Company received aggregate proceeds of approximately $319.0 million from the IPO, after deducting the underwriting discount and offering expenses payable by us. Upon completion of the IPO, authorized capital stock consists of 500,000,000 shares of common stock, par value $0.001 per share, and 50,000,000 shares of undesignated preferred stock, par value $0.001 per share. Immediately after our IPO, funds controlled by our equity sponsor Vista own approximately 72.9% of our outstanding common stock. As a result, we are a "controlled company" under NASDAQ corporate governance rules. Upon closing of the IPO, the Company repaid $205.0 million of the principal amount of the Term Loan Facility and paid $3.4 million of accrued interest and $2.0 million of prepayment penalty. The Company also wrote off $3.2 million of remaining debt issuance costs upon repayment of the debt. The Company recorded a loss on debt extinguishment of $5.2 million for the prepayment penalty and write off of debt issuance costs in the third quarter of 2020. In addition, in conjunction with the closing of the IPO, our Board granted awards under the 2020 Plan to certain of our employees, representing an aggregate of 1,256,538 shares of common stock. On July 27, 2020, the Company entered into a new secured credit agreement (the “New Credit Agreement”) for an initial revolving credit facility of $150 million (the “New Revolving Credit Facility”), which may be increased or decreased under specific circumstances, with a $25 million letter of credit sublimit and a $50 million alternative currency sublimit. In addition, the New Credit Agreement provides for the ability of the Company to request incremental term loan facilities, in a minimum amount of $5 million for each facility. Borrowings under the New Credit Agreement mature on July 27, 2025. The New Credit Agreement contains customary representations and warranties, affirmative covenants, reporting obligations, negative covenants and events of default. In the third quarter of 2020, the Company recorded debt issuance costs of $1.2 million related to the New Credit Agreement. There have been no borrowings against the New Credit Agreement.

Summary of significant accoun_2

Summary of significant accounting policies (Policies)	6 Months Ended
	Jun. 30, 2020
Summary of significant accounting policies
Principles of consolidation	The Company’s significant accounting policies are discussed in Note 2 to the consolidated financial statements included in our final prospectus (the “IPO Prospectus”) for our initial public offering (“IPO”) dated as of July 21, 2020 and filed with the Securities and Exchange Commission (the “SEC”) pursuant to Rule 424(b)(4) under the Securities Act of 1933, as amended (the “Securities Act”). There have been no significant changes to these policies that have had a material impact on the Company’s consolidated financial statements and related notes for the three and six months ended June 30, 2020. The following describes the impact of certain policies.
Deferred offering costs	Deferred offering costs Offering costs are capitalized and consist of fees incurred in connection with the sale of common stock in our IPO and include legal, accounting, printing, and other IPO-related costs. The balance of deferred offering costs included within other current assets at June 30, 2020 and December 31, 2019 was $5.8 million and $2.3 million, respectively. Upon completion of our IPO, these deferred costs were reclassified to stockholders’ equity and recorded against the proceeds from the offering. During the three and six months ended June 30, 2020, we paid offering costs of $0.7 million and $2.2 million, respectively.
Share-based compensation	Share-based compensation The Company applies the provisions of ASC Topic 718, Compensation — Stock Compensation (“ASC 718”), in its accounting and reporting for stock-based compensation. ASC 718 requires all stock-based payments to employees, including grants of employee stock options, to be recognized in the income statement based on their fair values. All service-based options outstanding under the Company’s option plans have exercise prices equal to the fair value of the Company’s stock on the grant date. The fair value of these service options is determined using the Black-Scholes option pricing model. The estimated fair value of service-based awards is recognized as compensation expense over the applicable vesting period. All awards expire after 10 years. The fair value of each grant of service options was determined by the Company using the methods and assumptions discussed below. Each of these inputs is subjective and generally requires judgment to determine. Compensation cost for restricted stock units is determined based on the fair market value of the Company’s stock at the date of the grant. Stock-based compensation expense is generally recognized over the required service period. Forfeitures are accounted for when they occur. The Company also grants performance-based awards to certain executives that vest and become exercisable when Vista Equity Partners’, our equity sponsor (“Vista”) realized cash return on its investment in the Company equals or exceeds $1.515 billion upon a change in control of the Company (“Termination Event”). The terms of the agreement do not specify a performance period for the occurrence of the Termination Event. The contractual term of the awards is 10 years. These options are also referred to as return target options. The Company uses a Modified Black-Scholes option pricing model which uses Level 3 inputs for fair value measurement. In conjunction with the IPO, the vesting conditions of the performance-based awards were modified to also vest following an IPO and registration and sale of shares by Vista whereby Vista still must achieve a cash return on its equity investment in the Company equaling or exceeding $1.515 billion. In accordance with ASC 718, we calculated the fair value of these options on the modification date. The value of these options increased from $13.8 million prior to modification to $33.0 million on the date of modification as of June 30, 2020. As the awards are not currently considered probable of meeting vesting requirements no expense has been recognized, and the timing of any future expense recognition is unknown.
Revenue recognition	Revenue recognition The Company applies ASC Topic 606, Revenue from Contracts with Customers Disaggregation of Revenue The Company separates revenue into recurring and non-recurring categories to disaggregate those revenues that are one-time in nature from those that are term-based and renewable. Revenue from recurring and non-recurring contractual arrangements are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ ​ June 30, ​ June 30, ​ 2020 2019 2020 2019 ​ ​ (in thousands) SaaS subscription and support and maintenance ​ $ 52,978 ​ $ 37,216 ​ $ 103,056 ​ $ 70,956 On‑premise subscription ​ 5,770 ​ 4,048 ​ 10,310 ​ 7,089 Recurring revenue ​ 58,748 ​ 41,264 ​ 113,366 ​ 78,045 Perpetual licenses ​ 1,032 ​ 2,252 ​ 2,794 ​ 5,098 Professional services ​ 2,451 ​ 4,794 ​ 6,461 ​ 9,295 Non‑recurring revenue ​ 3,483 ​ 7,046 ​ 9,255 ​ 14,393 Total revenue ​ $ 62,231 ​ $ 48,310 ​ $ 122,621 ​ $ 92,438 ​ Contract Balances Contract liabilities consist of customer billings in advance of revenue being recognized. The Company invoices its customers for subscription, support and maintenance and services in advance. Changes in contract liabilities were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ ​ June 30, ​ June 30, ​ 2020 2019 2020 2019 ​ ​ (in thousands) Balance, beginning of the period ​ $ 145,735 ​ $ 111,255 ​ $ 140,710 ​ $ 100,662 Revenue earned ​ (49,562) ​ (42,277) ​ (97,285) ​ (76,884) Deferral of revenue ​ 61,565 ​ 48,941 ​ 114,313 ​ 94,141 Balance, end of the period ​ $ 157,738 ​ $ 117,919 ​ $ 157,738 ​ $ 117,919 ​ There were no significant changes to our contract assets and liabilities during the three and six months ended June 30, 2020 and 2019 outside of our sales activities. Remaining Performance Obligations Revenue allocated to remaining performance obligations represents contracted revenue that has not yet been recognized, which includes deferred revenue and noncancelable amounts to be invoiced. As of June 30, 2020 and December 31, 2019, the Company had $170.2 million and $149.5 million, respectively, of remaining performance obligations, with 84% and 86%, respectively, expected to be recognized as revenue over the succeeding 12 months, and the remainder expected to be recognized over the three years thereafter. Deferred Contract Costs Sales commissions as well as associated payroll taxes and retirement plan contributions (together, contract costs) that are incremental to the acquisition of customer contracts, are capitalized using a portfolio approach as deferred contract costs on the consolidated balance sheet when the period of benefit is determined to be greater than one year. Total amortization of contract costs for the three months ended June 30, 2020 and 2019 was $2.2 million and $1.5 million, respectively. Total amortization of contract costs for the six months ended June 30, 2020 and 2019 was $4.2 million and $2.8 million, respectively. The Company periodically reviews these deferred costs to determine whether events or changes in circumstances have occurred that could affect the period of benefit of these deferred contract costs. There were no impairment losses recorded during the three and six months ended June 30, 2020 and 2019. For the three and six months ended June 30, 2020, the Company had two distributors that accounted for more than 10% of total net revenues. Total receivables related to these distributors were $19.3 million at June 30, 2020. For the three and six months ended June 30, 2019, the Company had one distributor that accounted for more than 10% of total net revenues. Total receivables related to this distributor were $6.0 million at December 31, 2019.
Recently issued accounting pronouncements not yet adopted and Adoption of new accounting pronouncements	Recently issued accounting pronouncements not yet adopted From time to time, new accounting pronouncements are issued by the FASB, or other standard setting bodies and adopted by us as of the specified effective date. Unless otherwise discussed, the impact of recently issued standards that are not yet effective will not have a material impact on our financial position or results of operations upon adoption. ​ Financial Instruments — Credit Losses In June 2016, the FASB issued Accounting Standards Update (“ASU”) No. 2016-13, Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments Financial Instruments — Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842): Effective Dates Leases (Topic 842) Fair Value Measurement — Disclosure Framework In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework — Changes to the Disclosure Requirements for Fair Value Measurement Fair Value Measurements Leases In February 2016, the FASB issued ASU 2016-02. The update requires lessees to put most leases on their balance sheets while recognizing expenses on their income statements in a manner similar to current GAAP. The guidance also eliminates current real estate-specific provisions for all entities. For lessors, the guidance modifies the classification criteria and the accounting for sales-type and direct financing leases. In June 2020, the FASB issued ASU No. 2020-05, Revenue from Contracts with Customers (Topic 606) and Leases (Topic 842): Effective Dates for Certain Entities Income Taxes In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12”), which simplifies the accounting for income taxes, eliminates certain exceptions to the general principles in Topic 740 and clarifies certain aspects of the current guidance to improve consistent application among reporting entities. ASU 2019-12 is effective for fiscal years beginning after December 15, 2021 and interim periods within annual periods beginning after December 15, 2022. Early adoption is permitted. The method of adoption varies for the provisions in the update. The Company is currently evaluating the effect the standard will have on its consolidated financial statements. Reference Rate Reform In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting (“ASU 2020-04”), which provides entities with temporary optional financial reporting alternatives to ease the potential burden in accounting for reference rate reform and includes a provision that allows entities to account for a modified contract as a continuation of an existing contract. ASU 2020-04 is effective upon issuance and can be applied through December 31, 2022. The Company is currently evaluating the effect the standard will have on its consolidated financial statements. Adoption of new accounting pronouncements Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract In March 2018, the FASB issued ASU No. 2018-15, Intangibles — Goodwill and Others — Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract Improvements to Nonemployee Share-Based Payment Accounting In June 2018, the FASB issued ASU No. 2018-07, Compensation — Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting December 15, 2019, including interim periods within those periods, and early adoption is permitted. The Company adopted the new standard in the first quarter of fiscal year 2020. The adoption did not have an impact on the Company’s consolidated financial statements as the Company does not have any nonemployee share-based payment awards.

Basis of presentation and des_2

Basis of presentation and description of business (Tables)	6 Months Ended
	Jun. 30, 2020
Basis of presentation and description of business
Schedule of revenue by geographic location	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ ​ June 30, ​ June 30, ​ 2020 2019 2020 2019 ​ ​ (in thousands) Revenue: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The Americas ​ $ 49,558 ​ $ 36,537 ​ $ 97,879 ​ $ 70,521 Europe, the Middle East, India, and Africa ​ 9,199 ​ 9,068 ​ 18,025 ​ 16,659 Asia Pacific ​ 3,474 ​ 2,705 ​ 6,717 ​ 5,258 ​ ​ $ 62,231 ​ $ 48,310 ​ $ 122,621 ​ $ 92,438

Summary of significant accoun_3

Summary of significant accounting policies (Tables)	6 Months Ended
	Jun. 30, 2020
Summary of significant accounting policies
Disaggregation Of Revenue	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ ​ June 30, ​ June 30, ​ 2020 2019 2020 2019 ​ ​ (in thousands) SaaS subscription and support and maintenance ​ $ 52,978 ​ $ 37,216 ​ $ 103,056 ​ $ 70,956 On‑premise subscription ​ 5,770 ​ 4,048 ​ 10,310 ​ 7,089 Recurring revenue ​ 58,748 ​ 41,264 ​ 113,366 ​ 78,045 Perpetual licenses ​ 1,032 ​ 2,252 ​ 2,794 ​ 5,098 Professional services ​ 2,451 ​ 4,794 ​ 6,461 ​ 9,295 Non‑recurring revenue ​ 3,483 ​ 7,046 ​ 9,255 ​ 14,393 Total revenue ​ $ 62,231 ​ $ 48,310 ​ $ 122,621 ​ $ 92,438
Contract With Customer Asset And Liability	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ ​ June 30, ​ June 30, ​ 2020 2019 2020 2019 ​ ​ (in thousands) Balance, beginning of the period ​ $ 145,735 ​ $ 111,255 ​ $ 140,710 ​ $ 100,662 Revenue earned ​ (49,562) ​ (42,277) ​ (97,285) ​ (76,884) Deferral of revenue ​ 61,565 ​ 48,941 ​ 114,313 ​ 94,141 Balance, end of the period ​ $ 157,738 ​ $ 117,919 ​ $ 157,738 ​ $ 117,919

Acquisitions (Tables)

Acquisitions (Tables)	6 Months Ended
	Jun. 30, 2020
ZuluDesk B.V
Business Acquisition [Line Items]
Schedule of assets acquired and liabilities assumed at the date of acquisition	​ ​ ​ ​ ​ ​ ​ ​ Assets acquired: ​ Cash ​ $ 3,325 Other current assets ​ 1,306 Long‑term assets ​ 154 Liabilities assumed: ​ Accounts payable and accrued liabilities ​ (419) Deferred revenue ​ (3,050) Deferred tax liability ​ (2,996) Intangible assets acquired ​ 12,310 Goodwill ​ 28,000 Total purchase consideration ​ $ 38,630
Digita Security LLC
Business Acquisition [Line Items]
Schedule of assets acquired and liabilities assumed at the date of acquisition	​ ​ ​ ​ ​ ​ ​ ​ Assets acquired: ​ Cash ​ $ 512 Other current assets ​ 1 Long‑term assets ​ 12 Liabilities assumed: ​ Accounts payable and accrued liabilities ​ (119) Intangible assets acquired ​ 3,300 Goodwill ​ 10,673 Total purchase consideration ​ $ 14,379

Goodwill and other intangible_2

Goodwill and other intangible assets (Tables)	6 Months Ended
	Jun. 30, 2020
Goodwill and other intangible assets
Schedule of changes in carrying amount of goodwill	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ ​ June 30, ​ June 30, ​ 2020 2019 2020 2019 ​ ​ (in thousands) Goodwill, beginning of period ​ $ 539,818 ​ $ 529,145 ​ $ 539,818 ​ $ 501,145 Goodwill acquired ​ — ​ — ​ — ​ 28,000 Goodwill, end of period ​ $ 539,818 ​ $ 529,145 ​ $ 539,818 ​ $ 529,145
Schedule of gross carrying amount and accumulated amortization of intangible assets other than goodwill	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ‑ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Average ​ ​ ​ ​ ​ ​ ​ Accumulated ​ Net Carrying Remaining ​ ​ Useful Life ​ Gross Value ​ Amortization ​ Value Useful Life ​ ​ ​ ​ (in thousands) ​ ​ Trademarks ​ 1‑8 years ​ 34,320 ​ 9,167 ​ 25,153 5.8 years Customer relationships ​ 2‑12 years ​ 214,320 ​ 37,564 ​ 176,756 9.7 years Developed technology ​ 5 years ​ 53,560 ​ 20,419 ​ 33,141 3.2 years Non‑competes ​ 2 years ​ 90 ​ 41 ​ 49 1.1 years Balance, December 31, 2019 ​ ​ ​ $ 302,290 ​ $ 67,191 ​ $ 235,099 Trademarks ​ 8 years ​ 34,320 ​ 11,310 ​ 23,010 5.3 years Customer relationships ​ 2‑12 years ​ 214,320 ​ 46,711 ​ 167,609 9.2 years Developed technology ​ 5 years ​ 53,560 ​ 25,775 ​ 27,785 2.7 years Non‑competes ​ 2 years ​ 90 ​ 64 ​ 26 0.6 years Balance, June 30, 2020 ​ ​ ​ $ 302,290 ​ $ 83,860 ​ $ 218,430

Net Loss per Share (Tables)

Net Loss per Share (Tables)	6 Months Ended
	Jun. 30, 2020
Net Loss per Share
Schedule of computation of basic and diluted net loss per share	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ ​ June 30, ​ June 30, ​ 2020 2019 2020 2019 ​ ​ (in thousands, except share and per share data) Numerator: ​ ​ ​ ​ ​ ​ Net loss ​ $ (423) ​ $ (7,671) ​ $ (8,713) ​ $ (16,681) Denominator: ​ ​ ​ ​ ​ Weighted‑average shares used to compute net loss per share, basic and diluted ​ 102,862,404 ​ 102,709,405 ​ 102,861,475 ​ 102,694,756 Basic and diluted net loss per share ​ $ (0.00) ​ $ (0.07) ​ $ (0.08) ​ $ (0.16)
Schedule of potentially dilutive securities excluded from the computation of diluted weighted-average shares outstanding	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ ​ June 30, ​ June 30, ​ 2020 2019 2020 2019 Stock options outstanding 7,742,158 6,038,890 7,742,158 ​ 6,038,890 Unvested restricted stock units 36,520 25,520 36,520 ​ 25,520 Total potentially dilutive securities 7,778,678 6,064,410 7,778,678 ​ 6,064,410

Share-based compensation (Table

Share-based compensation (Tables)	6 Months Ended
	Jun. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Summary of restricted stock units stock option activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Per Unit ​ Units Fair Value Outstanding, December 31, 2019 36,520 ​ $ 12.60 Granted — ​ — Restrictions lapsed — ​ — Forfeited — ​ — Outstanding, June 30, 2020 36,520 ​ $ 12.60
Service-based options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Summary of stock-option activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ‑ ​ ​ ​ ​ ​ ​ ​ Weighted ‑ ​ Average ​ Aggregate ​ ​ ​ ​ Average ​ Remaining ​ Intrinsic ​ ​ ​ ​ Exercise ​ Contractual ​ Value ​ Options Price Term (Years) (in thousands) Outstanding, December 31, 2019 4,073,286 ​ $ 5.65 8.1 ​ $ 37,520 Granted — ​ — ​ ​ ​ Exercised (18,792) ​ 5.49 ​ ​ 60 Forfeitures — ​ — ​ ​ ​ Outstanding, June 30, 2020 4,054,494 ​ $ 5.65 7.6 ​ $ 48,044 Options exercisable at June 30, 2020 2,150,893 ​ $ 5.50 7.5 ​ $ 25,806 Vested or expected to vest at June 30, 2020 4,054,494 ​ $ 5.65 7.6 ​ $ 48,044
Schedule of stock based compensation	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ ​ June 30, ​ June 30, ​ 2020 2019 2020 2019 ​ ​ (in thousands) Cost of revenues: ​ ​ ​ ​ ​ ​ Subscription ​ $ 38 ​ $ 55 ​ $ 76 ​ $ 118 Services ​ — ​ — ​ — ​ — Sales and marketing ​ 111 ​ 143 ​ 222 ​ 236 Research and development ​ 141 ​ 95 ​ 298 ​ 185 General and administrative ​ 474 ​ 356 ​ 979 ​ 679 ​ ​ $ 764 ​ $ 649 ​ $ 1,575 ​ $ 1,218
Performance-based options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Summary of stock-option activity	The table below summarizes return target options activity for the six months ended June 30, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ‑ ​ ​ ​ ​ ​ ​ ​ Weighted ‑ ​ Average ​ Aggregate ​ ​ ​ ​ Average ​ Remaining ​ Intrinsic ​ ​ ​ ​ Exercise ​ Contractual ​ Value ​ Options Price Term (Years) (in thousands) Outstanding, December 31, 2019 3,687,664 ​ $ 6.75 8.8 ​ $ 29,908 Granted — ​ — ​ ​ ​ Exercised — ​ — ​ ​ — Forfeitures — ​ — ​ ​ ​ Outstanding, June 30, 2020 3,687,664 ​ $ 6.75 8.3 ​ $ 39,644 Options exercisable at June 30, 2020 — ​ $ — — ​ $ — Vested or expected to vest at June 30, 2020 — ​ $ — — ​ $ —

Basis of presentation and des_3

Basis of presentation and description of business - Acquisition (Details) - USD ($) $ in Millions	Nov. 13, 2017	Jun. 30, 2020
Acquisitions
Ownership, as a percent		89.50%
Vista Equity Partners [Member]
Acquisitions
Aggregate purchase price	$ 733.8

Basis of presentation and des_4

Basis of presentation and description of business (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)segment	Jun. 30, 2019USD ($)
Disaggregation of Revenue [Line Items]
Number of operating segment | segment			1
Number of reportable segment | segment			1
Revenue	$ 62,231	$ 48,310	$ 122,621	$ 92,438
The Americas
Disaggregation of Revenue [Line Items]
Revenue	49,558	36,537	97,879	70,521
Europe, Middle East, India, and Africa
Disaggregation of Revenue [Line Items]
Revenue	9,199	9,068	18,025	16,659
Asia Pacific
Disaggregation of Revenue [Line Items]
Revenue	$ 3,474	$ 2,705	$ 6,717	$ 5,258

Summary of significant accoun_4

Summary of significant accounting policies - Deferred offering costs (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2020	Dec. 31, 2019
Summary of significant accounting policies
Deferred offering costs	$ 5,800	$ 5,800	$ 2,300
Offering costs	$ 700	$ 2,203

Summary of significant accoun_5

Summary of significant accounting policies - Share-based compensation (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Threshold cash return on investment upon termination event to determine vesting of performance shares		$ 1,515
Fair value prior to plan modification	$ 13.8
Fair value after plan modification	$ 33
Service-based options
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Award expiration period	10 years
Performance-based options
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Award expiration period	10 years
Threshold cash return on investment upon termination event to determine vesting of performance shares	$ 1,515

Summary of significant accoun_6

Summary of significant accounting policies - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Disaggregation of Revenue [Line Items]
Revenue	$ 62,231	$ 48,310	$ 122,621	$ 92,438
Recurring Revenue
Disaggregation of Revenue [Line Items]
Revenue	58,748	41,264	113,366	78,045
Non-recurring Revenue
Disaggregation of Revenue [Line Items]
Revenue	3,483	7,046	9,255	14,393
Subscription
Disaggregation of Revenue [Line Items]
Revenue	52,978	37,216	103,056	70,956
Subscription | Recurring Revenue
Disaggregation of Revenue [Line Items]
Revenue	52,978	37,216	103,056	70,956
Services/Professional Services
Disaggregation of Revenue [Line Items]
Revenue	2,451	4,794	6,461	9,295
Services/Professional Services | Non-recurring Revenue
Disaggregation of Revenue [Line Items]
Revenue	2,451	4,794	6,461	9,295
License
Disaggregation of Revenue [Line Items]
Revenue	6,802	6,300	13,104	12,187
License | Recurring Revenue
Disaggregation of Revenue [Line Items]
Revenue	5,770	4,048	10,310	7,089
License | Non-recurring Revenue
Disaggregation of Revenue [Line Items]
Revenue	$ 1,032	$ 2,252	$ 2,794	$ 5,098

Summary of significant accoun_7

Summary of significant accounting policies - Contract Balances (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Change in Contract with Customer, Liability [Abstract]
Balance, beginning of the period	$ 145,735	$ 111,255	$ 140,710	$ 100,662
Revenue earned	(49,562)	(42,277)	(97,285)	(76,884)
Deferral of revenue	61,565	48,941	114,313	94,141
Balance, end of the period	$ 157,738	$ 117,919	$ 157,738	$ 117,919

Summary of significant accoun_8

Summary of significant accounting policies - Remaining Performance Obligations (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining Performance Obligation, Revenue		$ 149.5
Remaining Performance Obligation, Revenue Recognition Percentage		86.00%
Remaining Performance Obligation, Revenue Recognition Period		12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining Performance Obligation, Revenue	$ 170.2
Remaining Performance Obligation, Revenue Recognition Percentage	84.00%
Remaining Performance Obligation, Revenue Recognition Period	12 months

Summary of significant accoun_9

Summary of significant accounting policies - Deferred Contract Costs (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Summary of significant accounting policies
Total amortization of contract costs	$ 2.2	$ 1.5	$ 4.2	$ 2.8
Impairment losses	$ 0	$ 0	$ 0	$ 0

Summary of significant accou_10

Summary of significant accounting policies - Concentration of risk (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020USD ($)item	Jun. 30, 2019item	Jun. 30, 2020USD ($)item	Jun. 30, 2019item	Dec. 31, 2019USD ($)
Concentration Risk [Line Items]
Trade accounts receivable, net	$ 53,275		$ 53,275		$ 46,513
Revenue from Contract with Customer Benchmark [Member] | Credit Concentration Risk [Member]
Concentration Risk [Line Items]
Number of significant distributors | item	2	1	2	1
Accounts Receivable [Member] | Credit Concentration Risk [Member]
Concentration Risk [Line Items]
Trade accounts receivable, net	$ 19,300		$ 19,300		$ 6,000

Financial instruments fair va_2

Financial instruments fair value (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Fair Value | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of debt	$ 203.4	$ 203.1
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of debt	$ 205

Acquisitions - ZuluDesk B.V. (D

Acquisitions - ZuluDesk B.V. (Details) - USD ($) $ in Thousands	Feb. 01, 2019	Jun. 30, 2019	Jun. 30, 2019	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019	Jan. 30, 2019	Dec. 31, 2018	Nov. 13, 2017
Liabilities assumed:
Goodwill		$ 529,145	$ 529,145	$ 539,818	$ 539,818	$ 539,818	$ 529,145		$ 501,145
Term Loan [Member]
Acquisitions
Debt, Principle amount				$ 205,000				$ 205,000		$ 175,000
ZuluDesk B.V
Acquisitions
Aggregate purchase price	$ 38,600
Weighted-average economic life of intangible assets acquired	7 years
Acquisition-related expenses		900	900
Revenues		1,000	1,500
Net loss		$ 300	$ 500
Debt issuances costs capitalized	$ 500
Assets acquired:
Cash	3,325
Other current assets	1,306
Long-term assets	154
Liabilities assumed:
Accounts payable and accrued liabilities	(419)
Deferred revenue	(3,050)
Deferred tax liability	(2,996)
Intangible assets acquired	12,310
Goodwill	28,000
Total purchase consideration	$ 38,630

Acquisitions - Digita Security

Acquisitions - Digita Security LLC (Details) - USD ($) $ in Thousands	Jul. 26, 2019	Jun. 30, 2020	Jun. 30, 2020	Dec. 31, 2019	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018
Acquisitions
Decrease in fair value of contingent consideration			$ 3,700
Liabilities assumed:
Goodwill		$ 539,818	$ 539,818	$ 539,818	$ 539,818	$ 529,145	$ 529,145	$ 501,145
Developed technology
Acquisitions
Useful life of intangible assets			5 years	5 years
Digita Security LLC
Acquisitions
Aggregate purchase price	$ 14,400
Contingent purchase consideration	9,000
Goodwill deductible for income tax purposes				$ 1,700
Maximum contingent consideration	15,000
Contingent consideration recognized		5,500	$ 5,500	9,200
Compensation expense		$ 1,600	3,200
Assets acquired:
Cash	512
Other current assets	1
Long-term assets	12
Liabilities assumed:
Accounts payable and accrued liabilities	(119)
Intangible assets acquired	3,300
Goodwill	10,673
Total purchase consideration	$ 14,379
Digita Security LLC | Maximum
Acquisitions
Compensation expense			$ 5,000
Digita Security LLC | Developed technology
Acquisitions
Useful life of intangible assets	5 years
Digita Security LLC | General and administrative
Acquisitions
Decrease in fair value of contingent consideration				$ 3,700

Goodwill and other intangible_3

Goodwill and other intangible assets - Goodwill (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)
Goodwill [Roll Forward]
Goodwill, Beginning Balance	$ 501,145
Goodwill acquired	28,000
Goodwill, Ending Balance	$ 529,145

Goodwill and other intangible_4

Goodwill and other intangible assets - Intangible assets (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Gross Value	$ 302,290		$ 302,290		$ 302,290
Accumulated Amortization	83,860		83,860		67,191
Net Carrying Value	218,430		218,430		235,099
Amortization expense	8,300	$ 8,100	16,700	$ 16,200
Impairment of goodwill	0	0	0	0
Impairment of Intangible Assets	0	$ 0	$ 0	$ 0
Trademarks
Finite-Lived Intangible Assets [Line Items]
Useful Life			8 years
Gross Value	34,320		$ 34,320		34,320
Accumulated Amortization	11,310		11,310		9,167
Net Carrying Value	23,010		$ 23,010		$ 25,153
Weighted-Average Remaining Useful Life			5 years 3 months 18 days		5 years 9 months 18 days
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Value	214,320		$ 214,320		$ 214,320
Accumulated Amortization	46,711		46,711		37,564
Net Carrying Value	167,609		$ 167,609		$ 176,756
Weighted-Average Remaining Useful Life			9 years 2 months 12 days		9 years 8 months 12 days
Developed technology
Finite-Lived Intangible Assets [Line Items]
Useful Life			5 years		5 years
Gross Value	53,560		$ 53,560		$ 53,560
Accumulated Amortization	25,775		25,775		20,419
Net Carrying Value	27,785		$ 27,785		$ 33,141
Weighted-Average Remaining Useful Life			2 years 8 months 12 days		3 years 2 months 12 days
Non-competes
Finite-Lived Intangible Assets [Line Items]
Useful Life			2 years		2 years
Gross Value	90		$ 90		$ 90
Accumulated Amortization	64		64		41
Net Carrying Value	$ 26		$ 26		$ 49
Weighted-Average Remaining Useful Life			7 months 6 days		1 year 1 month 6 days
Maximum | Trademarks
Finite-Lived Intangible Assets [Line Items]
Useful Life					8 years
Maximum | Customer relationships
Finite-Lived Intangible Assets [Line Items]
Useful Life			12 years		12 years
Minimum | Trademarks
Finite-Lived Intangible Assets [Line Items]
Useful Life					1 year
Minimum | Customer relationships
Finite-Lived Intangible Assets [Line Items]
Useful Life			2 years		2 years

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Related Party Transaction [Line Items]
Total rent expense	$ 1.3	$ 1.1	$ 2.7	$ 2
Contractual Obligation, Fiscal Year Maturity [Abstract]
2020	4.3		4.3
2021	9.3		9.3
2022	12		12
2023	3.2		3.2
Liabilities for contingencies	0		0		$ 0
Minority Owner Of Property Under Operating Lease [Member]
Related Party Transaction [Line Items]
Total rent expense	$ 0.3	$ 0.2	$ 0.5	$ 0.4

Net Loss per Share (Details)

Net Loss per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Numerator:
Net loss	$ (423)	$ (7,671)	$ (8,713)	$ (16,681)
Weighted-average shares outstanding
Weighted-average shares used to compute net loss per share, basic and diluted	102,862,404	102,709,405	102,861,475	102,694,756
Basic and diluted net loss per share	$ 0	$ (0.07)	$ (0.08)	$ (0.16)

Net Loss per Share - Antidiluti

Net Loss per Share - Antidilutive securities (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total potential dilutive securities	7,778,678	6,064,410	7,778,678	6,064,410
Stock options outstanding
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total potential dilutive securities	7,742,158	6,038,890	7,742,158	6,038,890
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total potential dilutive securities	36,520	25,520	36,520	25,520

Long-term incentive plan (Detai

Long-term incentive plan (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019	Dec. 31, 2018
Long-term incentive plan
Threshold cash return on investment upon termination event to determine vesting of performance shares			$ 1,515
Amount contributed for cash payments to employees	$ 7
Amount agreed to pay employees upon achievement of the plan conditions	7	$ 5.9
Recognized compensation expense	$ 0	$ 0

Share-based compensation (Detai

Share-based compensation (Details) - shares	6 Months Ended
	Jun. 30, 2020	Nov. 13, 2017
Share-based compensation
Aggregate number of shares of common stock to be issued		8,470,000
Common stock reserved for additional grants under the Plan	128,928
Options granted	0

Share-based compensation - Retu

Share-based compensation - Return target options activity (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Options (in shares)
Granted	0
Performance-based options
Options (in shares)
Outstanding Beginning Balance	3,687,664
Outstanding Ending Balance	3,687,664	3,687,664
Weighted Average Exercise Price
Outstanding Beginning Balance	$ 6.75
Outstanding Ending Balance	$ 6.75	$ 6.75
Weighted Average Remaining Contractual Term and Aggregate Intrinsic Value
Remaining term, options outstanding	8 years 3 months 18 days	8 years 9 months 18 days
Aggregate intrinsic value, options outstanding, beginning	$ 29,908
Aggregate intrinsic value, options outstanding, ending	39,644	$ 29,908
Unrecognized compensation expense
Unrecognized compensation expense	$ 33,000

Share-based compensation - Rest

Share-based compensation - Restricted stock units (Details) $ / shares in Units, $ in Millions	6 Months Ended
	Jun. 30, 2020USD ($)$ / sharesshares
Fair Value (Per unit)
Unrecognized compensation expense, RSUs | $	$ 0.2
Restricted stock units
Restricted stock (in units)
Outstanding, beginning balance | shares	36,520
Outstanding, ending balance | shares	36,520
Fair Value (Per unit)
Fair value, units outstanding, beginning | $ / shares	$ 12.60
Fair value, units outstanding, ending | $ / shares	$ 12.60
Percentage of RSUs that vest	100.00%

Share-based compensation - Serv

Share-based compensation - Service based options activity (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Options (in shares)
Granted	0
Service-based options
Options (in shares)
Outstanding Beginning Balance	4,073,286
Exercised	(18,792)
Outstanding Ending Balance	4,054,494	4,073,286
Exercisable	2,150,893
Vested or expected to vest	4,054,494
Weighted Average Exercise Price
Outstanding Beginning Balance	$ 5.65
Exercised	5.49
Outstanding Ending Balance	5.65	$ 5.65
Exercisable	5.50
Vested or expected to vest	$ 5.65
Weighted Average Remaining Contractual Term and Aggregate Intrinsic Value
Remaining term, options outstanding	7 years 7 months 6 days	8 years 1 month 6 days
Remaining term, options exercisable	7 years 6 months
Remaining term, options vested or expected to vest	7 years 7 months 6 days
Aggregate intrinsic value, options outstanding, beginning	$ 37,520
Aggregate intrinsic value, options exercised	60
Aggregate intrinsic value, options outstanding, ending	48,044	$ 37,520
Aggregate intrinsic value, options exercisable	25,806
Aggregate intrinsic value, options vested or expected to vest	48,044
Total fair value, options vested in period	$ 600

Share-based compensation - Shar

Share-based compensation - Share-based compensation expense (Details) - Service-based options - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 764	$ 649	$ 1,575	$ 1,218
Unrecognized compensation expense	4,600		$ 4,600
Weighted average period over which unrecognized compensation expense would be recognized			2 years 1 month 6 days
Cost of revenues | Subscription
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	38	55	$ 76	118
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	111	143	222	236
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	141	95	298	185
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 474	$ 356	$ 979	$ 679

Income taxes (Details)

Income taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income taxes
Effective income tax rate (as a percent)	6.20%	23.80%	27.20%	23.70%
Effect of net operating loss carryback charges related to CARES Act	$ 108		$ (210)

Related party transactions (Det

Related party transactions (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019	Jan. 30, 2019	Nov. 13, 2017
Term Loan [Member]
Related Party Transaction [Line Items]
Debt, Principle amount	$ 205		$ 205			$ 205	$ 175
Revolving Credit Facility [Member]
Related Party Transaction [Line Items]
Maximum borrowing capacity	15		15
Amount of debt drawn			0		$ 0
JAMF Nation Global Foundation [Member]
Related Party Transaction [Line Items]
Amount of pledges to JAMF Nation Global Foundation				$ 0.1
Accrued expenses to JAMF Nation Global Foundation	0.6		0.6		1
Vista [Member]
Related Party Transaction [Line Items]
Expenses incurred for related party transactions	0.1	$ 0.3	0.3	0.6
Accounts payable to related parties					0
Vista [Member] | Maximum
Related Party Transaction [Line Items]
Accounts payable to related parties	0.1		0.1
Vista Affiliates [Member]
Related Party Transaction [Line Items]
Expenses incurred for related party transactions	0.1	0.1	0.3	0.3
Accounts payable to related parties					0
Revenue from arrangement with related party	0.3	0.2	0.6	0.4
Accounts receivable from related party	0.2		0.2		0
Vista Affiliates [Member] | Term Loan [Member]
Related Party Transaction [Line Items]
Debt outstanding	34.9		34.9		$ 34.9
Interest paid on term loan	0.8	$ 1	1.6	$ 2
Vista Affiliates [Member] | Maximum
Related Party Transaction [Line Items]
Accounts payable to related parties	$ 0.1		$ 0.1

Subsequent Events (Details)

Subsequent Events (Details)	Jul. 27, 2020USD ($)	Jul. 24, 2020USD ($)$ / sharesshares	Jul. 10, 2020	Sep. 30, 2020USD ($)	Jun. 30, 2020USD ($)$ / sharesshares	Jun. 30, 2019USD ($)	Jul. 21, 2020shares	Dec. 31, 2019$ / sharesshares	Nov. 13, 2017shares
Subsequent Event [Line Items]
Aggregate number of shares of common stock to be issued | shares									8,470,000
Common stock, shares authorized | shares					132,000,000			132,000,000
Common stock, par value | $ / shares					$ 0.001			$ 0.001
Ownership, as a percent					89.50%
Cash paid for interest					$ 9,262,000	$ 10,568,000
Line of Credit Facility [Abstract]
Debt issuance costs						$ 1,550,000
Revolving Credit Facility [Member]
Line of Credit Facility [Abstract]
Maximum borrowing capacity					$ 15,000,000
Subsequent Event [Member]
Subsequent Event [Line Items]
Stock split ratio			110
Aggregate number of shares of common stock to be issued | shares							14,800,000
Issuance of common stock (shares) | shares		13,500,000
Share Price | $ / shares		$ 26
Aggregate proceeds from IPO		$ 319,000,000
Common stock, shares authorized | shares		500,000,000
Common stock, par value | $ / shares		$ 0.001
Preferred stock, shares authorized | shares		50,000,000
Preferred stock, par value | $ / shares		$ 0.001
Ownership, as a percent		72.90%
Principal amount of debt repaid		$ 205,000,000
Cash paid for interest		3,400,000
Prepayment penalty		2,000,000
Write-off of debt issuance cost		$ 3,200,000
Loss on debt extinguishment				$ 5,200,000
Aggregate shares granted | shares		1,256,538
Line of Credit Facility [Abstract]
Minimum increment in term loan facility	$ 5,000,000
Debt issuance costs				$ 1,200,000
Subsequent Event [Member] | Revolving Credit Facility [Member]
Line of Credit Facility [Abstract]
Maximum borrowing capacity	150,000,000
Subsequent Event [Member] | Letter of Credit [Member]
Line of Credit Facility [Abstract]
Maximum borrowing capacity	25,000,000
Subsequent Event [Member] | Foreign Line of Credit [Member]
Line of Credit Facility [Abstract]
Maximum borrowing capacity	$ 50,000,000