JAMF - Earnings call transcript Q1 2022

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Operator

Thank you for standing by and welcome to the First Quarter 2022 Jamf Earnings Conference Call. [Operator Instructions] As a reminder, today's program is being recorded. And now I'd like to introduce your host for today's program, Jennifer Gaumond, Vice President, Investor Relations. Please go ahead.

Jennifer Gaumond

Good afternoon and thank you for joining us on today's conference call to discuss Jamf’s first quarter financial results. call Financial Hager, President Officer, Operating today's Jill Executive and on Officer. Chief Putman, and me are Chief Dean Officer, Chief WIth John Strosahl,

the remind begin, release press first-quarter that like we our today, to results. Before shortly issued I'd announcing after market financial a closed we you

presentation a with presentation models. updated and statements Excel also published and financial assist We file to QX earnings investor containing quarterly

Investor refer Relations include call, discussion You our of Section Jamf.com. non-GAAP where measures will may on access to a would results filings, statements. discuss Jamf's may cause Please this you actual related I Today's recent on SEC performance. forward-looking recent the to statements. most the annual differ to information also like most see you discussion we will our that from remind these Form of factors including some materially to report XX-K, could during that

comparable can find in reconciliation measures filings of our those You the the press GAAP SEC measures and release. nearest to

many you and we during ask we Additionally, to questions call, the address that possible as analyst limit follow-up. one can initial questions one to your question please ensure as

to Hager. to call the Dean. Now, over like I'd turn Dean

Dean Hager

significantly. Jamf Xth business Over for the publicly will call, share where XXXX. we and everyone results announced two you, joining review you, results and walk Jamf first event, how customer traded transformed years, and financial outlook exciting product, recent through as then provide Then reporting Jen, Jamf's John we're virtual you successes QX quarter quarter Thank and thank updates and several a Jamf's some Jamf's and fiscal will teams. product us. have I financial On company, quarter first for Jill of recent from the today's go-to-market marks enabling the will those highlights from company. our enhancements. customer our market, key second quarter

$XXX.X a we Since of Jamf's added recession, to war onboarded recruiting we retaining a expectations, every QX despite customers, devices, ARR exceed and new of and recently, expectations to We Jamf have million challenging quarter talent, XXXX, last environment million and continue facing ARR, pandemic, over In exceeded a same the XX period over have Europe. XX,XXX team growing most for over approximately increase an the XX% year. million over IPO, X,XXX $XXX members. in

the To we webcast representation website. of in pandemic to in growth available have you, XX% years the QX quarter-by-quarter We in comprised XXXX, as these the commercial QX in XXXX, QX education growth growth earnings Jamf especially surge in in different and and education in in is have better drove GIGA since like quarter company markets Jamf's Jamf's QX education of seen versus in device completely business two markets occurred years. growth two in growth in buy-in a education market, first metrics was of and over Jamf's via past stages assist evolved proud the At Jamf's of how past XX%, and of prior public XX% in throughout like where a which QX of programs buy-in, of I'd to we markets. year-over-year the which ARR Japan, the project and To now reported pandemic, the never the IR growth in Jamf's the lapped that Jamf's presentation, before the commercial compare education rates understand of QX XXXX, are included in start surge history. a

growth pushed culminating our was ARR growth year-over-year commercial and of to Over market XX% commercial rates we've the growth course that quarters, together, education closer Jamf's XXXX of the reported next QX education had in three or return and dynamics that reflected in expected levels rates results. as continued From XX%. and as to accelerated quarter also our normal rates started XXXX has expected. and education each as was point This commercial QX on, growth Jamf's growth

Our an QX. prior strong year-over-year in and was education growth markets XX% ARR in XX% ARR incredibly commercial was year, despite in lapping growth

for the of Jamf with time We're Now XX% education between first and total representing growth healthy ARR. balance commercial markets. the over pleased very market higher

the growing at portion larger rates. With of faster our significantly business

million. we're will cycles and that business celebrate our a believe balance we return just forward, markets, and QX security to also in the XXXX, pandemic the Going have longer that ago been Protect. recently entered At by with IPO, anomalies. across market the no $X buying of And year-over-year We had comparisons approximately but healthier significant over was like adapt help Jamf driven in maintaining Jamf's Perhaps succeed order throughout a product the organizations was company, during to remotely, primarily our time consistent period. has work, continuing total past and Apple public impressive products strong years Connect in Jamf's years. of Two solutions. growth to flexible ARR to was the we from management as business this while solutions device Jamf enough security the care, platform pandemic most Jamf’s transformation learn two proud

million pleased that ARR with the from of grown in majority QX our coming from to report Jamf’s has solutions very ARR expanding over fold well markets. endpoint ten security are vast of commercial to line We of security $XX XXXX,

growth impressive growth continuing while our this for with product. Jamf’s We high security management portfolio, Apple accomplished have

mobile experience Jamf account growth Apple in QX trust downloads, was Endpoint and very solutions. Jamf providers, along launched Endpoint can to growth, differentiator is iPhone the year-over-year security of new on reporting small plant. great to offer and helps the one enterprise, security, the the simply is customer powerful This few to launched sales the the at that an developing Jamf super-set that iPad purpose to smartphone is number filtering, simple tablet, example employees and that is authentication, fundamentals manages businesses. one mobile Jamf one representative. Apple's and organizations few most Mac's both the simplify secures with Apple-best. content a a the Jamf For enrolled a Jamf passwords simple the prevent, fundamentals in market and plant a includes continued Management Jamf that training computer win the phishing and prevention need it growing in next-generation commercial Any impressive now March can unique malware Apple-first and IDC to several management within offer simple, seen compliance solutions enterprise. is markets, management Jamf remediate solution Mac popular for of since management provider in Jamf provider the Of growing malicious management device Jamf the and threats provider fulfilling platform and used solidifying into with the data Jamf’s is functionality number to shipments all and a Jamf over and is platform. number very of thwart for Today, that in one love, spring power speaking the suited which in fundamentals to the ago innovative Jamf Jamf plan. ideal And required management in with of by geography. showcase the enterprise, world in no only malware prevention new simple Jamf helped and fastest-growing medium-sized our Jamf both deploy late future. current turn now, fundamentals secure to cross enterprise solution Management the have built without Apple giving of with to that the capping, an security, click. this provides best of and the by sync capabilities supports threats enterprise an strong as critical still grew and the VPN, and growth near will not Further a an zero delivering device trust XXXX other provide upgrade XX% Apple-first that companies with of all continue enterprise that businesses capabilities organization this the security yet We identify, few automatically. Apple is data, work. ability Cloud QX companies solution and when a both despite customers a trust, management ban. recently has Jamf According modern our the of leading solutions Jamf a drive fundamentals every record weeks amazing identity-based along Pro QX, is are run ARR Mac ability identity one platform this We XXXX security devices in only with consumer the Apple we A XXX%. and shipments

has last balance update all app and to on now which and Jamf owned we we've on was October, iPads. a some what the by attended right at corporately in price point, features, Jamf’s compelling the this strikes latest BYOD Jamf the security announced installers, new security took cost event, privacy, less we end-user iPhones underserved BYOD Apple's along the BYOD, a XX% thousands, new including opportunity and between This the [Indiscernible] of native Leveraging competitiveness with market. technology, large organizational for solution solutions. that progress transforms delivered made customers and new new than capability During

Jamf save hours with they and that Jamf devices downloads MAC Jamf maintain our for adoption of of workflow significant platform this in now app using ad make only needed at risk. software week Continuing delivery simplicity ultimately Apple the mirrors Windows. Android detect we differentiated for With part XX velocity, the malicious anticipate announced Enterprise app like announcement, we like hygiene, a of built Jamf’s MAC of work good Management and an Jamf’s phishing Apple Innovations Store. malware the security to the the of third-party first hours lead validation endpoints. per MAC also of third-parties security also support. strategy for Jamf’s new suite, and volume, X These help sizes. portfolio, yet for customers compromising Protect endpoint for also in the we new of all text, network its incoming extend Jamf delivered App drive With security put and are goal stop or these will the enhancements purpose average and mobile enterprises installers the We the significantly users by to new solution Apple, into comprehensive software providing threats help And is security enhancements as solution network before to catalog, with capability. simplifying available prevent believe built entire of this and directly expand combined we to the providing our

we're successes on John. Here's teams how Jamf’s customer deliver to enabling and recent For platform, comprehensive go-to-market Jamf’s more

John Strosahl

Steve. Thanks,

can now platform across security With vendor our provide robust shop iPadOS, management more the Industry. who Jamf Apple is to And will organization, enhancements large capabilities, the MAC. we've our event, at only within at Jamf this No Android, secure the Jamf the in growth is looking fully macOS, devices with support organizations a when outlined especially combined iOS, Windows. where one-stop the than the for technology for evidenced and scale

are choice growing device for enterprises over many In software as engineers. were with which XX of key rapidly As MAC the find of serving technology a Industry. figure we in deals QX

strong now significant proud specifically to We technology Apple of We choice and in Salesforce, like services. role growing largest trend and a the as play the Whose and technology world. one industry are MAC across all offer Mac the will continue leaders employee Industry believe to deployments Amazon in as working growth the excited in with faster web MAC well industries. has

GM demonstrate security have and utilizing types for both of Success can As and and go-to-market of management across impressive stories product guide holistically our management device go-to continues our solution needs. help enabled in device helped management to various to market our the needs of we've security overlay customers power and line their related the to all it across teams to our sales security customer teams requirements, and expertise provide the and insights value a security comprehensive with and both delivering complex strategy. of identify growth expanding across security industries

beds first Pro the for in research healthcare, than example, X,XXX Medical years, been starting Utrecht in over one is management more a Center with in UMC largest and Netherlands academic health has For Jamf care employees. department. MAC of nine the University Utrecht customer XX,XXX centers the the with

centers and workforce security time, but MAC of pandemic and and nurses the the medical over managing the patient as students. for began well posed not challenge only a network for care, a meeting while for they medical doctors researchers, supporting onset Now as also privacy dispersed of The the new doing requirements.

January, over quickly XXX increase by During posture IT while UMC Access. Jamf provider two administered pharmacists, having Health In over Jamf size an team licenses most was with while user also and not us security team MAX, its home MAX in their improved national recently, past of services simplified in Jamf healthcare, the of from X,XXX time, a renewed UMC fleet. clinicians scale IT able of Connect, of both Private pharmacy has Protect, throughout the to this their United to the specialty States. adding deployment Jamf or to experience all have team growing Also innovative and is of years, the an and care. They complex Soleo the alternative site its and experienced nurses, its

are iPads Data while field. In for and with both devices XXXX its in term of and Policy Threat a renewed Defense Jamf QX, has and Data Jamf Policy Soleo in the deploy Soleo fleet Jamf leveraged smartphones Jamf Defense, and license these annually. their since Jamf protected ensure compliance built and three-year growth in to Pro, Threat

is needs. Soleo device Health management grows, helping As Soleo's while mobile simplify their addressing security Jamf

the partnership one admins, over of as XX extend industries. their number or value seeing and security of well as their across efforts benefits strategy a to more excited are team. to this our bring We half top our leadership included this QX In IT of our of largest deals products. continue to We're

carriers. relationships our is for security with strategy element expanding Another go-to-market mobile our

and was the acquisition to in ability carriers platform. like ability expand to recall given landed opportunities Telstra, and carrier then, you'll Wandera's Since related Wandera relationships. the key internationally to year's carrier the strong mobile we've our the If deliver others relationships channel expanded last of one carrier Docomo, full with with BT, Jamf

first expanded our incredibly a So simplify sharing of one progress excited addressing management, We the launch. of these pleased also carrier day with needs. new and future help of relationship organizations deal about to results the their forward yielded security their in device in far the we're to quarters. look We're efforts, for while more opportunity

it and Now results Jill for turn guidance. I will to financial over our

Jill Putman

Thanks, John.

us strong years, Our reflects high-quality disciplined such XX.X so revenue retention, of consistently unique solid award-winning QX we with approach. continued amongst of and and These our peers delivered QX strong our navigate results as factors I'm how strong we net base combined loyal than two devices raising the well customer foundation our ever-changing recurring proud customers again these many our of investment results culture, the more We over our make the results position and on growth. consistent last our than XX,XXX Jamf million platform. macro-environment. revenues, ended driven more with

the we've XXXX. to As now early comparables Dean in and XXXX education mentioned, late buying related lapped surge tough

across by growth This XX% expansion, growth and device and least Now with this commercial QX represents education and primarily between forward. efforts. and the going expect markets, Jamf’s driven March worth growth balance acquisition, steady for and And growth major experiencing and all geographies Jamf’s trailing with over ended of now noting remains offerings XX is ARR. top our least growth industries net security every of commercial of product contributing months XX%. that at XX. the XX% XXX% at it's revenue cross-sell at normalized healthier customer up-sell more we XX% local is is year-over-year, our ARR growth Dollar-based retention device total XX% new all

of our contributing retention, expansion. While net device is products the are expansion primary driver our to increasingly security add-on

retention our as was trailing we historical however, overall Jamf, part to months will dollar-based added quarter net third include until will believe minimal it's once of than of of the lower expense, that impact have disclosures after retention have non-GAAP No, data. reporting? Wandere's our on on margins, Wandera to a As net be Wandera one-year remarks net will remainder my a items, reminder, profitability our basis. net not retention they retention XX Jamf’s and

acquisition the in and points impact saw profit decrease are non-GAAP of our two was revenue from GAAP due as non-GAAP non-GAAP a Connect QX, Our in between GAAP reconciliation the both along the XX%, impact sales financial in the the with found release. Wandera QX year prior as and and occurred of earnings the of margin prior of to recognition results percentage headcount in year, which expenses of Jamf in in increases We Wandera operating over well due to support observing primarily top-line R&D XXXX. early QX added changes operating costs. growth, gross

Non-GAAP of license revenues, prior X% the operating quarter. exceeded QX timing to such, along of compared related which operating certain upfront expenses with non-GAAP of expectations is difference income our hardware, year to which the partially anticipate over in costs, recognized margin timing in As due and new are the we QX, recognized have the associated will XX% the minimal fiscal year. higher be recruiting some to and remainder

unlevered Our in prior-year multiyear the periods expense operations. The includes XX% with cash contracts XX% associated related current while was collections of flow on now and free margin period. trailing pandemic education benefited cash the XX-months savings costs compared to timing the Wandera the to from the operating period prior-year

market and flow flow us from with us stability, companies growth. and differentiates generation or any conditions. high allows also cash economic generation consistent from cash to cash XX XX% months, of revenue trailing We anticipate margin exceed unlevered margins combined again, free XXXX trailing XX. believe flow flow Our in slightly flexibility cash margin in protect innovation to XXXX. growth when us other changing with of a top-line or helping Jamf growth make investments unlevered We financial above sustainable at This achieved continue be our many XX% free provides XX-months tech our and rule rapidly strong to

is with annual expectations. effective Our consistent tax our X.X% rate

for this We've calculation is updated periods file will Excel the ARR current and that non-GAAP containing release tax our calculating prior financial currently forward methodology Please website. we U. that our note included impacts, we statements S. taxes cash metrics, do on quarterly using basis. posted a has federal which for statutory been rate to pay our Going for in XX%. not

year provide the on financial I'll quarter full outlook XXXX. our thoughts and for Now second

continued which business in we're highlighted with earlier, offerings, of higher-growth revenue in very with pleased Dean of we into commercial in done to increased go-to-market initiatives. on continue And significantly historically, our our balance our investing innovation, performance focused strong faster perspective to new support in and XXXX. mentioned momentum From infrastructure Steve our markets the John the This at as of As plan over continue and along have the between commercial will we and the our investments we markets growth and portion growth, back of larger geographic with we markets, remain in continued capacity product education expansion our business these for strategic rate. people. investment healthy in investment and will strategic against scale, drive earlier, reinvest many activities growing as

the million, to XX% range Non-GAAP quarter of the growth to XXXX, $XXX $X the considerations, $X XX% these of income representing Given million for operating million of total of million. to expect we year-over-year. in second range $XXX revenue in

For midpoint outlook. $X.X million raise the XX% from of full-year XXXX, in the $XXX and to in representing the from we million our income a $XXX operating expect million prior year-over-year, range total XX% growth of million. $XX of range million, Non-GAAP the $XX revenue to to

impacted in of occurred of Wandera the acquisition operating the by impact is reminder, a our which July As year full non-GAAP income XXXX.

webcast compensation, your average Dean, of John payroll Investor related amortization, I posted and modeling taxes. effective basic earnings in our weighted tax stock-based part now as and And purposes, Relations presentation on will provided diluted Annual outstanding the the Operator estimates also for and take website. questions, we and rates, shares for and Additionally,

Operator

question if a [Operator at gentlemen Instructions]. and this ladies you have Certainly, time,

results and been has you'd like from the move question queue, your If to [Operator Instructions]. answered

Sachs. comes Goldman Our of from first the Brian question line Essex from

Your question please.

Brian Essex

on of you change on results question as Hi, environment? starting selling violated endpoint you given greater good are you buying see-saws security ask, the or patterns, a for elevated to are see security bit you appetite the Dean, taking a frequently congratulations particularly the the any for more thank and start to the particularly your afternoon to in little a you to to and quarter. enterprise still quick you, the on to the the question contribution starting who conversation selling threat enterprise platform, and contact for traditional through type more with are Are person? increasing from wanted that for you side enter

Dean Hager

Great and you question, Brian thank it. for

as You not able observation has of make and detection tell one at that are a to story and vulnerabilities, security Jamf, result, management that products few security. but full to value because interesting I that And a the the we against of of a is action mentioned, as of very only we're suite that. we're able deliver the also

different little the economic on to SMB, specifically space, the or answer it's enterprise. buyer. commercial In an frequently, the whether it Now same a your bit questions can SMB it's is very customer depending whether

So when Business got a and of of very together, within couple very first Jamf of Connect we level, different. little popular, area we we Enterprise originally where launched, the for and fast. ago, traction instance, Jamf became bit they're Protect Pro, bundle years the was combined SMB Plan Connect or Protect actually

to well. CSO You're likely the into by as that bring the going InfoSec team, in

references, we you question? economic our in SMB, move show do And additional the of traction what would contacts that Does the buyers. then your that with use the say case get to load up really can on is have so which and with then cases I answer rhythm enterprise, deliver,

Brian Essex

to Super-helpful. Maybe follow-up. one Perfect. just one quick Yes.

of sharing as how in of we're ARR revenue of buying entering we accelerated think should the pattern more normal that Now we find that pandemic, our for seasonality patterns, about a buying the period bottles a remainder lapping year? the for

Dean Hager

you do grab want to Jill, that?

Jill Putman

Jill. It's Brian. Yeah. Hey,

about thinking you're -- If

Brian Essex

Hey.

Jill Putman

we Wandera of we rest have of in remember to that acquisition the the July occurred that the year. for have -- year, last

help of second growth the up acquisition, what will we lapping rate just a -- equal rate. to things similar half compared we're we but first come for half that slower of slightly So growth because the year, the all that see neutralize as post year, the we'll on in

Brian Essex

Thank you Perfect. very helpful. much. Very

Operator

you. Thank

from Our the of Owens Piper line Sandler. comes next question Rob from

Your question, please.

Rob Owens

Yeah. security Thanks Microsoft? front, as next you the on Are question. -- EDR endpoint to taking around for your like asked solution. especially the CrowdStrike, my Brian the players at look build replacing to what love curious just to playing or of Want then SentinelOne, logistically we early sitting brand name we Are add of enterprise to some Just to that, Jamf that's out your Safe them? from some within And you the Thanks. how your response customers. space. Internet

Dean Hager

Rob. Thanks, Sure.

So We replacing only on first really or solutions is for bring and see rolling Pro cut such. us, are then when will on we that's find. question load off the find MAC The Policy industry Apple will Connect there, Data go of focused, And the and user defense, the out new actually of do, a perspective, next other always are most are install that because and experience protection now again, side the security course, Jamf somebody performance of that us getting alongside only. and of built along won't using all the will specifically there itself? do on within we co-exist Windows typically MAC and because and served just solutions like ecosystem they'll it from And mac, with that enterprise Protect run we on-ramp really that all, on exploits is is, those since frequently, almost predominantly security and on they're anyway, well Once and -- enterprise. what using security is MAC other with of us in solution we no our since the was security a will we adequately else that into from customers such we platforms. install where Pro Jamf the providers will customers which clearly, providers that because the mobile, the because is on very co-exist those always on focus low as that MAC space we co-exist out don't impact our and find Jamf Matt, Windows have threat right aren't focus ahead for actually the

have on area. are them, into that will our a we report to And announced there's on CSO. typically haven't it, of then that announced their providers security simple launched product toward for those logging And multiple then Internet, would very actually market that of truth one watch that coming going to focus we'll it, So And sure to but seeing we it map summer. anticipation data safe area, continue but to of source regarding focus a numbers this feeds we partner be the so yet. make that of lot with quickly, no we're

Rob Owens

Great. the Thanks for color.

Dean Hager

Thanks, Rob.

Operator

Thank you.

Our next William Stotler line from from question Blair. the of comes Matt

please. question, Your

Matt Stotler

taking Hi, Dean, Jill. the for Hi Jennifer, thanks questions.

from to way guess couple maybe all I me, want a the one, take you Just it the back to Apple relationship.

I anything development channel a before, essentials, couple have validation been of as think you I think really have but news shutting Apple competitive. strong pretty business of still that the over past of is guys is years. that's about that than be move Fleetsmith, which and interesting of rather saying a they appears to we Apple about more down around that piece that really new Obviously, got that spoken thoughts what you've

of So provide update customer. you any that a any using of for -- in terms channel color relationship a a essentials can as business in seeing what will. as Apple upselling you can And partner, if as then you terms you're with Jamf the Apple's

Dean Hager

Matt. you, Thank

together influence -- to from be which strong there ever, from relationship within an all, in market, a is with the perspective, perspective, First from as the out a customer a our reseller and a of is Apple existence partnership of development the course, from primary the continues enterprise. perspective, and

changed as as strong has It ever. mentioned, nothing I there. is So as

require market solutions, happening. that by You're that up announcement. are Business happen our if that all they -- at with the fast. frankly, very can end picture at what for you of And Wasn't can was we pretty what deploy served some providing see, actually absolutely I again, They everything help as would we mean, Apple to were those be growing the Fleetsmith solutions. [Indiscernible] ended predictions in MDM on that a right low indeed much that surprised the consider is security there best great, the are so Essentials,

So there it, MDM Jamf. the actually more the better devices out for on running an have that

again, Apple unmanaged a segment we goes service typically. a And so of to applaud largely provide the attempting that to market therefore,

on say So completely have Apple of market last of even Jamf yet I talked segment since Essentials announcement really really to nobody's that Business was the meet run customer or single beta It fall, that, confused a the have designed whether implementation. bring that the not can a they into I reaching. that and is to I actually should

is it are we was. results it the expected what as exactly So And thought well. we what

expanding to it us It's give for early Business with to. so As channel us Essentials. sell on to Apple pertains to actually more the

there We haven't either. impact really any seen

Matt Stotler

then Understood. And just one maybe follow-up.

relationships are You carrier potential mentioned Wandera out. something benefit you had a That's you as -- talked the that building picture. you're the bringing previously about carrier from into

and effective these for your here, early. thoughts could addressable be seems on on though that just the of get some to timeline ramping market. those we obviously, it's Let's -- relationships pretty relatively encouraging. just relationships It that SAM thoughts from expands traction your seems serviceable already get some how If updated

Dean Hager

primary just customers to channel. just into we Yeah. before you But gone typically do, secondary is which that is that there this secondary points we're either you carriers. I'm just has about going I with to do of out some that and John Wandera's it with factor believe bringing to our John, predominantly through incredibly John effective companies with bring carriers? But or wanted acquisition and that was to remind furthering But we're a the our work relationships I'll our I work the some want benefit We security their what, Wandera the you channel to Jamf productive was sales of other channel, a remind synergy bit actually with had just talk through through doing I perspective. force to the products on market that touch from going But was not comment a carriers. by led tell doing carriers. everybody an right. and of you're that to discussion

John Strosahl

Thanks, Dean. Sure. Yes.

relationships carriers carrier in previous Wandera Jamf the we with open and very you expansion into channels putting really them. the them we today. but products some through that, had already the in been to products what leveraging and have eager functionality channels for and that had relationships in us to those taking we several discussions because carrier channels add The -- said, personally I've that those original they legacy to of the is Jamf As the they're and were we'd had Wandera with and

their Wandera the we've on in. those not In those just legacy their price put carriers and the can also reps go of enterprise products, listed to list fact, that enterprise they but now quote, in when been products customers, their several out Jamf

that deal script my we reach in had multiplies enterprises close we that mentioned through our I As a because that into just actually did that those just immediately once -- carriers.

Matt Stotler

to Thanks hear. Great again.

Operator

you. Thank

from Joshua comes Reilly question next line of Needham. from the Our

question, Your please.

Joshua Reilly

questions. my taking for Thanks guys. Hey,

market business, GOs exposure international months? to have U.S. last or your versus international challenging at your Europe demand these the And more look how LATAM? as in you and any you seen macro couple about should APAC has of become divergence the we between the If in think

Dean Hager

you I'll or kick the I course, first impact, all, quick, in over of specifically want factors. Okay, Jill when and so over a comment and of talking think the couple a do also to be that impact? that FX But One that's sanction unrest customers try some impact. would second. of there, quantify some to overall it about real Jill, there's

Jill Putman

international the doing those stop handful was organizations. in then our that deals dollars impact We as individual pipeline really -- it quarter. No existed. million ARR our together we selling just really you smaller economic for of sanctioned the few loss -- into significant bundle to the one a had had trajecting customer, had cease FX, factors. significantly it mentioned, with that It's quarter, of ones Dean We the the for Russia. are a few a about and all We couple to business a of

Joshua Reilly

queue Got some to per on initial that Apple's around how more now year. and it's a then believe have after marketing it. That's now? helpful. going the And made resonating some your be are the customers I website aggressively Curious, pitching done BYODs of know with this? is offering this you privacy, you've $X I changes And that are -- to salespeople given

Dean Hager

tell and privacy I'll question. individual do the the space. is out for what for organization. -- in BYOD Balancing security the -- you well known the can we Thanks the say for will I still there. it's not

in BYOD a personal together an way possible, work organizations new a management actually and and that on what sure to secure with even access and the that segmenting partition of which Apple know ability the is and from giving most thing Jamf’s with software same the is iPhone up apps partition a even devices communications put email. native all we per to set app into work a think make don't those I partition the do VPN and are natively apps private solution,

move that think to We the in do. story. how going I really of what be for can BYOD there's surge because the of that conditioning to are little so a with of special don't just market a huge the aware market we is short-term, the even solution

going at XXXX we'll some 'XX the Zero similarly BYOD very what's you to was this back Trust in Jamf to I It even just deployment what we've early first that first almost explained think customers standard frankly, So talked as it is to didn't way we've market because organizations deploy. entered and the be it well or and is seen know to market of because, the absolutely possible. native think was But became slow the long when know, something technology. I enormous. deliver Apple using eventually, into But getting on is interest for haul possible. as And

in well. I BYOD think to that's going happen as

Joshua Reilly

Got it. guys. Thanks,

Operator

you. Thank

of America. Our next Akita of the Koji question Bank from from comes line

please. question, Your

Unidentified Analyst

Hi, this is Laurie on for Koji. Thanks a for taking question.

since So fot device has AAR the increased.

driver the So that? current how what's inflation you increase was the think pricing And environment, about under [Indiscernible] strategy? for do in wondering the the

Dean Hager

don't of both why those? you take Jill, Hi,

Jill Putman

Yes. afternoon. Good

you're increase comes things per in ARR are to the seeing it that our when on So device. different there. A going of couple

to more that's then between One add-on of products shift product offerings, occurring starting with mix also our there's we're suite. business. the Securities and is our commercial with particularly sell device per education And them

device you fact doing. commercial weight with and price XX a about of really point commercial see bookings we're starting that. quarter carries to XX% had largest business we've recall, represents commercial blended the education that the over consider our our if you of that compared of the QX when that to now Now being And especially

the that education, as well benefit we're mix our products we're and between So have a XX% seeing track as check customers than of of devices. on the shift great fact. it's seeing their add-on within commercial traction more commercial product Over one

as of well. one that's the biggest drivers So

Unidentified Analyst

impact Thanks particular Great. to just China And want color. for on then expansion, drill their on COVID situation. lockdown just that the international down the given

in earnings, So on guys. commented has Apple their impact wondering you turn was how that

Dean Hager

impactful from for that the Thank APAC But way, you've to you question. would our want to in bit be you is that something anything John, chime been material little in a largest material business Not whether as do today in in a seeing in Japan. -- just China? just

John Strosahl

No.

-- at clip Korea inside bit outside fact, in is demand the we not in been still had as grown a the opportunities tremendous quite than Taiwan a actual there, Japan South and south mentioned, seen -- demand growth has decree growth and as fact, big in selling we've focus, grown Dean the faster U.S.. We've and In has far into. see target the opportunity but primarily increase, but U.S. market we've really as grown also a we've Japan. some our China We

So we'll addressable total investment because half it's that internationally market. continue over the

Unidentified Analyst

Thanks. Great.

Operator

The queue.

Mattiacci from from comes question next Our line of Craig-Hallum. the Nick

Your question, please.

Nick Mattiacci

Thanks on for Bennett. Nick question. for is our This taking Chad

products And just the we education and to terms see base? segment. to of as opportunity customers? gear you at question in speak can today begin for cross-sell a year, So then are next education the the school on up the you we Where in education attaching the security

Dean Hager

we new the the Yes. markets products in world I We that the as design, with joining us products the first would market. well. starting question, into the it's on Thanks by baseball of education focused our for offers. say -- Nick. actually security that we game, for commercial to have inning the security penetrate Thanks the originally have,

it, from benefit an we not Internet in of the seeing launch just solution safe within we're and summer, organization only in also don't starting a safe safe it security However, security we But has remainder accidently when the that really of door to there out the there not lot increase coming students ensuring the education the volumes will the demand we itself, when use, demand. of as we importance the only and regulations students see expect think it talked picked but earlier. expose them. position solution to portfolio drive to that but that is in for see conversation threats. space We're Internet a That's legislation about as can this of that our open interest I of to come up we and see and continued, will even protecting more

Nick Mattiacci

Thank it. Got you.

Operator

you. Thank

Vinod of from Srinivasaraghavan comes the next line Our from question Barclays.

question, Your please.

Vinod Srinivasaraghavan

Thanks for taking my question.

Just a follow-up on BYOD.

guidance BYOD say it's potential fair built a from that uplift is to into yet? that Given is early, not it

Dean Hager

look providing Jamf, devices out where able you focused. timetable. and never a value is BYOD market really connect that Jamf price of always that No, alone being mentioned, personal I technology the have I structured -- materially being if device upgrade so, doing completely and we're we've a With operating yet time. those not And that would And able don't way users as user to on when but operating to to really of if lot no wreck there. expect embracing of exists, uplift it's there just expect the Apple's, Again, for could historically a BYOD, called both of been have it, a of users the in just expecting lot BYOD what's market Vinod. thank best provides worlds out. we guidance run the to but they that do, be low to than devices. to long-term those provider uplift likely on to partitioning change for I It's latest that them, I upgrade and come don't they provided system enrollment the a more an this exist. more at you, near-term be really bring work the any uplift of will differentiation BYOD believe we and I'm that systems for able device be potential on

the wasn't that we're We it up before didn't us. of attractive for just a So first pricing and pricing just market time for just -- focusing for because we for BYOD. that -- have BYOD special this we it announced on opens even

out more in more to meaningful and Now solutions years will of the it is but play. some we a year, with have this It it's impact. penetration the will long-term differentiated think a XXXX, have I

Vinod Srinivasaraghavan

here? Can it Protect, then of solutions, talk adoption and sense about some early more security patterns similarities, out me. rolling what Connect patterns the you from you're you one using and and there have now are makes Connect from and learned adoption kind any for initial Wandera of Got that drive various Protect to differences, for adoption that

Dean Hager

those sales that product? mentioned that and you're launched it's days becomes say the very And in acquired, products Wandera about, Jamf products question sales Jamf asking we Jamf when that in on the both launched our we where ignite can I in one early rapidly. is the force popular, to is QX we single so it of area comparative in to earlier, things are that how was products Well, XXXX. and an launch to of the Threat Jamf customers Jamf we've Now, Protect Jamf coincidently, of the of of Jamf right our there Yes. Defense, very paper and data policy learned what of buyer S&B, Protect selling Brian economic XXXX our Access QX Private a

first quarters we're Protect. selling tracking pretty just the sales, And equally. sales of Jamf Wandera products of you first quarters how pleased the We're two with those couple two look at the contract very of sold. if quarters actually we ahead have of So of

security Wandera given So that years the that now, established pace. just And direct through the those pleased are carrier selling of Wandera including sales products products that ended and Jamf Jamf the way, that Not come contributing two we again, $XX company already channel. by sales ahead security million where ARR right the that's the that Wandera to sales. Protect through up we're number for tracking have later,

ago. So pretty years we're of and had said it's on good pace couple really Protect the we ahead of that a Jamf, comparison apples-to-apples

Vinod Srinivasaraghavan

helpful. you, Dean. Thank That's

Dean Hager

Yeah.

Operator

you. Thank

line comes next Pat of the Our from JMP Securities. from question Walravens

Your question, please.

Joey Marincek

out your for Hey us Google on team, on planning could is Marincek so touch and give partnership question. so on far. Cloud that with it's much how Pat. Google Thanks much. for you relationship update the I Joey Thank the hoping was an you on so

Dean Hager

Yes, Thank question. your absolutely. you for

And a device network a Google, And of where on can can device Google It's block that within lot the compliant. an partnership some that with by providers see And Jamf we with based Microsoft with checking strategy. tell look the there, network is out on Jamf a partner instance, can the similar most Apple be Corp. partnerships a as like for somewhat identity for capability integrates flag, within have of instance Connect, we've if to network to Google all of ZTNA, it's secured us. as a or access then most could has have signal, a in great It's actually provide had is And beyond providers either and time. on their recently, we platform Google for We result, that called major we front, tremendous that actually any especially to zero-trust identity iCloud them with on that that a ramp seamless Microsoft we Google. order front. expanded to to set the or from Google on part or and of their identity device user

your way, we flag this to in either both data And network. security Microsoft security of security a it's one we beyond data Google and instantly that much these so we're why say and getting from within block or the Google device take Corp So reasons dynamic using now. within provide management if a set can

attractive Google management had enter Microsoft of partnerships for so with why able the it's Google to do the given So was reasons with support. it to us we was one being the the and into security that to customers that space, our

Joey Marincek

helpful. Thank for much the really color. That's you so

Dean Hager

Absolutely.

Operator

to conclude of the today's further question-and-answer remarks. does This to Dean program any you. the for I'd program. Hager hand Thank like session back

Dean Hager

for Well, call. everybody, hey, you again, the thank joining

past like employees, now, market optimistic exceeded deliver we're the for to Just as has customers, enclosing the growth. And solutions we with multi-platform as continue two product Jamf broad, and financially delivering balanced have continued financial now innovative ever shareholders. this forward, healthy Jamf that we've once to portfolio. years again, quarter been. and And to expectations is a our comprise consistent well-positioned going

revenue we and Given market, recurring our the revenue, see strong base, the margins. that revenue balanced loyal approach and net growth demand high-quality to in retention, customer

So great thank you have a evening. and

Operator

in participation This does Thank you, the ladies conference. and program. conclude your today's gentlemen, for

now disconnect. may day. You Good

Jamf Holding (JAMF) 11 May 222022 Q1 Earnings call transcript