JAMF - Earnings call transcript Q2 2022

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Operator

Good day, and thank you for standing by. Welcome to the Jamf's Second Quarter 2022 Conference Call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded. to Gaumond, conference please like speaker to now Jennifer today, begin. would hand over the your I

Jennifer Gaumond

Officer, Good appointed afternoon, financial Ian Officer; and Chief Officer; today's recently on conference John thank we call Goodkind, Executive you Chief for to today's has effective and current announced, Jamf's who, joining Officer; discuss Strosahl, Jill September as second Chief Dean President X. and quarter are results. Financial Putman, me call With been Hager, us Financial on Operating Chief

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

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

announcing Additionally, to press appointment retirement. issued CFO Joe's a release Ian's and we

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

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

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

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

Dean Hager

Jamf's quarter Then call, John the third everyone, for some and you, recent for for review us. provide Jamf and over publicly her outlook and highlights second Jill Jill financial and our financial the will us incredibly the today's share instrumental successes. Jenn, through full-year quarter results Jamf's Jamf's XXXX. been leading On But to you, before thank quarter Thank Jill IPO customer I will years. Jill second immense grateful and retirement. for from to to eight on get want in so has I her contributions I in congratulate including XXXX. started, I'm success, last joining

new I've As is wish pleasure enough call as she many many I'm the fortunate phase with a his her the main great Jill in I as first her also working joined of nothing have will Accounting a but a next is of I'm time embarks of fortunate leadership team know, here I'd and the to to today. Ian every Jill, for one excellent in Officer Ian life. Chief our Ian. like not of had this to And had extend key be more even best he friend. on the congratulations that to since been Jamf of you colleague as he I years, and reasons member have our confidence XXXX. Jill has role. I'm

has growth Despite ARR quarter new over revenue with our ARR diversity replacement achieved products Now, from XX% continued market. and and rather an Apple core Jamf's factors: delayed uncertain for consolidation. XX% factors. and ARR year-over-year. market education Pro, navigate and the retaining and recruiting of challenging in these growth over market grew environment, noticing Apple hardware markets which XX%. market Jamf's between continued line, and When comes innovation are talent, projects of it management robust product device supply a healthy issues of causing X driven for education represents Jamf's business we commercial resilient macro the as Jamf's to proven quarter million some for QX we to with we the momentum and results. grew strong year-over-year $XXX added Jamf XX% exceeded of strengthening the like again successful for period, a ARR highlights maintaining a by And Jamf quarter. strong by Jamf's business higher-growth record markets, Jamf's markets commercial a XX% same balance a expectations

new of to innovating security just as other same into in providers Meanwhile, management Apple made continue partners additional majority and available the is over embrace to and customers. proving they impact management to approach consolidation, replaced market enterprise In the slower day ago, X of mobility one experience. solution Jamf's well more need Apple X wins. considered existing by the mobility across in XX,XXX to than years the engineering innovations, pace QX, Apple. to With device separate leaders just teams Many as user which respect the order embrace been providers were to created quickly extend Jamf at market, has enterprise support software organizations, were innovation valuable adapt have leading of unique their capabilities. the the challenges cross-platform to to consolidated that these for Apple's seats Continued management ever device for customer to are can leading latest be innovations,

wins and robust capabilities Jamf and have was commitment This a Pro. managed of devices of at now strategic move iOS across all to of innovating management was their Red Apple best-in-class devices. all Bull experience guarantee fully our within Apple into these who customer its user an the enterprise pace can is when to consolidated One experience Jamf's Jamf their of simple. large in both the Apple delivering consumer provider is that who solution growth lead scale combined with Enterprise helped platform, Jamf And and support only security mac the secure Management. organizations at extend Apple the

With customer XX of past of mobile wins from number products. with broad more -- represent growth point to across including This needs during driven quarter, the Jamf's by our of have deals X of expanded of we've the solutions. meet XX few or top we've last QX, as the was one line workforce. over of percentage tremendous our our we largest product and a security our increasing security increase the offerings our security seen products Jamf ARR, years, Currently, line, security XX%

was food policy, to budget Jamf data reallocate able XX,XXX surplus purchase we who a seat data sale For landed seats. hardware these to a policy distributor to multinational

national Threat States. X,XXX network behavior deploy a therapy most United of spans seats For of to centers the facilities, their of across Defense, network purchased which

nearly Additionally, sale we won prominent Connect a another XX,XXX of X,XXX Okta, leading with Jamf retail a and seat online company with and identity provider. a seats e-commerce

Mac services leaders security strength Jamf to company, that solutions protect chose a operation security organizations chosen testament accounts embrace leading computers. organizations internal apparel of in chosen Jamf's Jamf's cloud the to by and all identity Jamf's Connect and fact was by both to Mac to As of And like was their also providers. Payfit, value ability e-commerce provider identity an The Protect major Protect Jamf and each security identity Apple a platform. and own is sync

done personal apps privacy including: diagnostics BYOD all protected the employees BYOD their While are BPS, think of at and including separation that corporately ever devices, with posture are data, industry, user with critical to most upon the X the having have of all do resources, customers' job. to are mentioned secure many and therapy configured of Jamf a so to are to personally Apple's personal deploy a and it. everything BYOD and owned management unique the is pricing in leverage and and app in and along or whether Jamf's capabilities to with brand-new the encrypted Apple deals iPhone and gene a work automatically access that hundreds able Jamf strengthens about unique unrivaled Using global user they per work corporately access to of protection for BYOD Jamf's owned. without need personal ability BYOD First, forefront the on separate with device combination accessing data of security enrollment. private the of customers, work phones leader the Jamf devices corporate I QX, In

work the school employee for hacking device eliminating functionality found their iPad own and opportunities the to in during support Bio iPhone general and each empowering or Second, up set enrollment. settings, to sign-in

having cloud-based VPNs are Trust Zero to Jamf for automatically app when next-gen that legacy able so Third, initiated access And app store configuration Pro VPN use self-service configure BYOD all customers them is access with device Fourth, presents to to employees, to simple enterprise on the VPN. empowering Jamf user per one or private replace with fifth, Jamf private a an without install, Jamf ever needed on solution tap network it. the about app. think the and to access secure apps

Sign-On privacy further with the the Apple's Examples Single management. to upside methodology organizations Diego while to differentiate organization. September. this is their past embrace capabilities, our focus these declarative innovations showcase New winning can Innovating focus to while still to is solutions, reporting solution now we were at impossible Apple's User providers posture. and a MDM the at IT year's to best Apple at creating specifically with of a device year serve protecting San at security down, Jamf Apple's don't how for Developers able favorite capabilities use single uniqueness. emphasizing is in to serve it knowing Nation capabilities this the their these to criticality device, customers impersonate excited and announced Jamf pace protected, greater critical device extend native strengthen And the greater equip capability With employees is Worldwide and device, Apple. employees strengthening Apple for BYOD sign-on customers who platform to late make on that for enrollment station from functionality. and event, plan nearly Conference, on that Conference in And from map, to Jamf new turns

will care focused person live Diego host education. again be cannot details a be will over We to to John Event and will and JNUC, attend. in who sent now event talk it hand those investor for out San webcast which successes health in product during I'll our to in shortly. innovation

John Strosahl

that will Dean. wins customers more than our Thanks, future. which XX% than one utilizing as to be that in expand we highlighted we platform customers for running Jamf Many Currently, purchased the product, Jamf Jamf continue believe product, represent will key have growth are capabilities. the our that increase for we flagship one driver commercial our and product, Dean a more Pro, anticipate of number

in XX% care health launched Jamf Fundamentals products we and aided care, plan. Additionally, utilizing customers care. management, health workflows our a expansion QX by Jamf Now, and recently organizations. for security provider very running of workflows adoption and continued industry Jamf One strong our continued seeing within represented are quarter patient for are commercial where SMB

value-added Private additional A able One market switched of robust could Jamf Florida's example were another provide Jamf teams largest how Jamf adding alleviate mentioned. the Jamf our replacement Healthcare network products provider, of and is issues to workflows. networks Jamf and quickly Protect, win Dean management Access listener. with This with and Jamf Connect, hospital recently Pro, very their demonstrate hospital along that their was struggling to with along

Our enterprise. in commitment Giga And as surge the seen growing and strong devices project this drive despite that digital device maintaining platform now before securing continue our education winning key proposition discussed Japan Apple Jamf's and a late the the growth with innovate never in turning to growth a Germany In all in Apple to drove care commitment customers like in provides QX, through continuing in XXXX we or occurred Jamf's to to adoption education value QX in of to health across Apple programs buying while with innovations history. within education. supporting XXXX in tough and workflows, the pack pace industry comp was compelling to to customer. we

the country. have strong QX, the K-XX aimed by customers in of Taiwan distribute with quarter increase customers. QX, as with platform. APAC increase over end At Apple, total success Jamf This choose ability the was a education I'm the key served students X,XXX and with along an Jamf differentiators education to this than were X.X of our typically devices selection to million as well Giga Jamf market, Japan's process. win program QX the more Jamf's them. the in delighted devices type XX.X The the aided for XX,XXX were to that that to Schools drive Jamf. for device million as schools approximately to partnership approximately business in XX% with in Jamf the project given well of team's in demonstrated secure the program helped software strong at on Now share is of across as the Jamf a devices manage nationwide of chosen for

education. the the QX. and rolled the as Additionally, Jamf the initial success us represents unmatched phase content the generally win management content as earlier commercial providing Jamf filtering This this Safe companies making and Jamf's out And in ARR Internet, with available management well the School and and device security, is Safe education-focused many both for device schools and now for and that one-stop opportunity program. markets for that only in and Taiwan seamless combination can Made very Jamf's device summer, Jamf like students in government to ensure Internet the this needs. of schools Pro, security in opportunities filtering have allows management Jamf to world endpoint initial phase to first compelling schools to provides network few Internet as shop both solution was position integrates of and per is security Jamf's helped threat the prevention of Jamf all overall multiproduct of for cybersecurity average improvement drive technologies. in open management only it additional Taiwan. and strong experience both puts a one a Jamf organizations Apple with in offers door safely adoption in Jamf with this a navigate

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

Jill Putman

as We than robust ARR security those Dean, quarters record for ended words million across reflects and our the than year-over-year accelerating business platform with management compared added new ARR John, to deliver the to the of QX growth earlier. with kind X solutions. our more on growth platform. more quarter and devices XX,XXX Thanks, serving continue XX.X prior thanks, balanced customers and of we

industries revenue strong acquisition, and and ARR XXXX. and logo ARR growth new of growth at customer is growth geographies. device particularly efforts quarter growth least occurred all QX XX%, of of total remained the primarily is Jamf's at of experiencing year-over-year cross-sell and Taiwan XX% achieved by Wandera the least As for XX% this again, with acquisition, in a at the Ministry every to strong project. commercial across QX due was growth Commercial John which XX% major growth of Education XX%. ARR Jamf and product And upsell at impact device driven across XX% top we mentioned, least expansion, of year-over-year, all growth

larger of of our QX. security XX% becoming and our products end portion are at Additionally, ARR a of ARR total are the now

We XX dollar-based retention have months we to include now have disclosure updated of trailing now data. our net Wandera as

net company XXX%. total combined is Now retention

addition in non-GAAP but remarks and to metric see Wandera, retention As over we profitability, will this remainder expect of a we expected, did The a on slight increase net on decline the time. due to of basis. items my margins, be expense

of the primarily in with GAAP Our gross non-GAAP results, release. expenses year the growth, in operating earnings as with compared non-GAAP our prior flat QX between margin X% reconciliation due due XX%, to exceeding in revenue to quarters. year margin to million, This are expectations $X.X which added financial GAAP recent was quarter. outperformance. non-GAAP support consistent in saw R&D and costs. absorbing non-GAAP We prior operating Wandera our operating headcount resulted top was along in line profit prior X% to income increases QX operating and is the well Non-GAAP over QX sales year, in and a found as to

in the savings sales. timing unlevered operating cash timing QX of Wandera creating period Our a benefited The due related margin previous to number expense a impact prior shortened trailing the of XX% with to occurring the sales window the in the as free for end current QX. of collection these collections operations from at costs year quarters, larger pandemic cash of was was to includes XX% difference This cash prior than as the period the to XX-month period. year related well associated compared flow in

continue purely increased our allows tech to provides financial from not us Jamf Fortunately, and or flexibility high-growth timing top related this rapidly flow growth. economic generation from to is differentiates related collection This in us generation consistent line changing helping stability time. protect to We innovation believe flow is and companies and any investments strong, with us cash cash market make other and sustainable conditions. many

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

QX calculating currently last statutory we which starting XXXX use we impacts, tax metrics, non-GAAP is As quarter, our indicated for rate for will with XX%.

current website. using statements quarterly updated for our U.S. note We prior methodology cash that we this periods has to have file financial that our Please included been a pay not posted and containing and calculations on excel IR federal basis. do taxes

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

the strong mentioned testament solutions remain and is a Dean to resiliency continued Jamf's performance of As solid. earlier, business. our for Demand diversity genevated

of therefore, continue the back one scale number the to in business a of the and budget IT this to future. smaller is to items not of one expect dollar We often cuts in factors, often subject the Jamf areas including, due their it's spending should budgets,

do are to efforts more Additionally, usually ROI and can be with months. rapidly is Jamf enterprise looking deployed if with quickly, less companies money, that IT an across in measured deliver an minimal

customers However, cycles seeing areas sales as some in to well as purchasing needs. as seats current elongated future anticipated are to only meet opposed additional some we

stated with continued continued particularly supply iPad. Apple be and are more outlook. with for constraints Mac macroeconomic caused device recently our These to have their factors, along us Additionally, uncertainty cautious acute and

quarter $XXX.X year-over-year. of range growth revenue $XXX.X in to expect For the XXXX, XX% million we million of the third total representing XX% of to

As acquired QX the a reminder, we at beginning Wandera year. of last

comparable rates to growth $X now on operating basis be forward. $X going of in income million. range will million a Non-GAAP year-over-year So the

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

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

unlevered anticipate to in XXXX. achieved cash to margins flow continue XXXX We what similar free we

journey been tax for also average and IPO, diluted closing, as provided with outstanding Additionally, of part you all the stock-based posted of it purposes, couldn't delivering past on team focus Relations growth organizations set weighted payroll succeed in have I'm compensation taxes, And has webcast wish In robust team your part Jamf. our I the And incredible related of basic website. John, an Dean, here such honored years. continued questions. and at Operator? has modeling entire relentless I and we complete working innovation earnings be and future. and Apple. the substantial effective Jamf and shares over and proud into pleasure the and confidence with solution to amortization, annual will our Ian and success the presentation help Investor take for estimates the we've most to more I Jamf driven accomplished, on a X of be with rate the what now in well Ian the Since

Operator

Instructions] question Markets. the Capital And line our RBC [Operator first from from Hedberg of comes Matt

please. Your question

Matthew Hedberg

Great. Thanks for my taking question.

results. Congrats about Ian you lot the A sales all, Maybe the happen? But started to it more commercial the obviously side Was more unique reflected to some on Jill, did a results when could it of versus Jill, you I'll with was bit on that with cycles. And there. things First there and congrats anything miss well. the the education -- look side? with in Wonder as of retirement, start. did color guidance. you. We on provide that's it? Maybe if talk the I in we'll and quarter, you working forward think working in elongated

Jill Putman

Hey call. thanks joining Matt, it's Jill, the for and

the maybe longer of actually. customers through kind that's pretty the we're to We're a to our bit extra the couple earlier did see levels what that as approval in quarter their purchases unusual. we industry start cycles, throughout from hearing, -- spend budget of world. And a not are get of IT So on taking little in early this hearing

we're -- in deal size little going if However, up $XX,XXX. think average end less customer bit ended is insulated a right on we believe our closing. what's up of about now because that those deals you they it, the did than And

their looking at we spend customers any we're a It's be companies don't to is going to are budget, by the going we're when to to a feel cycles their -- trying just of when bit going little are that. IT rationalize So impacted taking longer. be, -- just what materially like

Matthew Hedberg

in one driving security in Can maybe To then of about a anything I And feel terms us like of attach strong there the durable lot But there? the more accelerated success for exciting. driving sense. mean what's the of sort aspects really, of of is makes challenges. I economic cross-sell with That talk one you John. sort see especially security that? think is really what's unique IT is of spend,

John Strosahl

the the really thanks That deploy is, with and certainly resonated. combination and that's question. Yes, ability product management really and solutions us security really of together. what -- There that's And to management for the sets apart. the the really security is

from As that. top least included the you've script, was deals one security profit the at a had XX it seen of in XX security product,

So forward.. continue that to going expect we

Operator

Chad Thank comes line Bennett you. our of One Craig-Hallum. next the our And moment from for question. next question

please. question Your

Chad Bennett

Great. taking to the luck just question. phase look going Good working Ian forward. with then forward next Thanks Jill, and reiterate, my And for on congrats.

count quarter customer in strong, new good. very very, device and dollars per looked look So the

the pretty Taiwan though education quarter. win the you think significant out in quarter, in I pointed a

and think segment was -- that quarter. not each I district in Was kind in of it Taiwan. I'm how the you sure

customer a the that was standpoint from works customer But meaningful in from quarter? a it However, count new standpoint.

Dean Hager

Yes. don't know. you John, why most jump your this on as in

John Strosahl

well. customer half as about customer Yes, past was It quarter. question Chad. for new in Thanks the increased this our

were they And to pretty good make particular of of availability was significant. and again, we school could funding but districts certainly software device the headwinds. able choose it. the it phase, and choose to initial their that mentioned, those very in they XX% choice And we manage the of the own could secure So as quarter, each one

Dean Hager

Yes.

across half device very one while schools. was roughly there, add count. to that Just in These it our nowhere customer comment deployments near small on of were accounts,

Chad Bennett

it think be for or might Right. -- Ian. about And then we as Jill

should in aren't for annualizing of metric, How think there's from every deceleration in so ARR in in expected know the assume Wandera half, love the how technically and I -- ARR you type just that you on and -- education business. and from stand revenue, And just ARR about forth. to view ARR we're now you of you half the growth half. back -- I of I second of the kind Just but guiding commercial kind know segment some year second don't But perspective? we of terms an versus as the today

Dean Hager

an ARR, From Yes. you're right.

Just as a that? reminder, time. bring Ian, first we don't guide a on you ARR. to question for But great the do and want I think to it's Ian take

Ian Goodkind

ARR Sure. year and the Thanks, would Yes, half the growth What for in the for question. Thanks both correct. of to converge. Dean. revenue you're those numbers, we second expect growth

Chad Bennett

Got it.

Thanks so much. Okay.

Dean Hager

you. Thank

Operator

Thank you.

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

please. question Your

Matthew Stotler

Hey question. team, miss know great Ian, to working the thanks obviously, we're excited to it's taking for with better. going been you, Jill, you get to And you.

side. you on would the the your opportunity and opportunities a think there. More the Obviously, been here of kind the commercial just efforts be what's going and the international talked first in side. on on education question I about lot

expectations kind look obviously, to any just the at macro. maybe of from then of your for how going broadly into and forward? with markets an I'd is elongation going seeing you of get And that those there there you're feel whether of contribution that's kind kind As and your sort progressing going love it's the forward? that pipeline plays how of on

Dean Hager

we that bit the talk is little we've remind growth John, perspective. international of for north for about for And kick have and industries, the I'll geographies that growth, row commercial our would this any single a of mentioned top major of balance XX%, all that seeing of Dean, of from to and several every to our we're a everybody then geographies, of it just our north all our in as opportunity north XX%. a market product quarters I is that impact ARR also But XX%. Yes.

I why the But diversity talk about don't specifically opportunity, So balance to friend. our and kick to is over it international John.

John Strosahl

in we for also continued U.S. at just the we've our certainly, international are great faster couple to market; We Thanks. accordingly inside our really greater reasons: a international markets for believe outside And than outside by revenue opportunity Well, the the it the spend, a that the addressable Okay. U.S. And know the One, grow inside the U.S. there's diversifies markets and market have U.S. looking of us. invested that IT addressable a source. two, even

we're So in some in economic markets -- and it bolster and other us. seen through we're seeing And we saw the that We that if happen today. one seeing headwinds the it market, happen. to that certainly COVID, have we've current situations of

Matthew Stotler

Got you. -- earlier That's obviously one helpful. And then went GA have which you fundamentals, on the year. this

view The how on are has a motion you're love that behavior package strong. like of color about over bundles? that You've prior to point expect what basis? Would get some these the motion that buying over expand at land clearly years just see right? you do also talked and move But you to kind does going looks evolve more at of And quarters. to land and in your customers business time, the to expand going and plan some of on how been think patterns kind longer-term favoring change buying

Dean Hager

question. great a Dean That's Yes. here.

Our product we're X almost were has some public years expansion years been since we to we mean, went X than I ago. different company immense. a ago, extent,

commercial with want launched don't on that we've to education space we product noticed X, is. explain the list cross-sell We But for have procurement we office order to expansion of that well. on in easier make that our that we we it we each business do as things it's also been has going within even so also significant really to markets. each that base now I customers purchase -- continue they product would of July our And customers. as make But is Internet, product us. need to best has we one And into been which have. go anticipate much what rhythm if of to found so their XX,XXX -- most back the each it And through our Jamf product mention be historically go cross-sell our the to do purchase to have one is to more

And so bundles often the the put of and it cell. very are together. If sort just we purchased that together of rhythm out smooth simplifies

are not have could And customers. bundles. We'll a to Fundamentals nothing two that common so going or few to easier purchase make on it most have we're just specifically, easier to Jamf one that. our together like And products bundles than the be

Now system reasons can in Jamf and doubles identity the fundamentals. Jamf you one XX% or that's base I penetration Now and later. includes live short And of sign available, launched going in on already that we Jamf why to Jamf within And of it's with second when it we of since one the to I been If anti-malware device literally course, March, think one fundamentals dollar Jamf plan sync. Fundamentals. And the later you're upgrade the mouse time today, seconds have per that Now to you're from also customer mean, click a two your

So customers super is for easy making that key.

Dean Hager

That's great. Thanks again.

Operator

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

please. question Your

Robbie Owens

in the And saw particular, long-term us of could at you deferred strength I in wonder contract and you if this in just duration revenue. quarter. looking that

the else? to something that's wondering with or education if attached So on you success vertical

Jill Putman

Hey Rob, a uptick. not not big seeing, on average,

education. these by up 'XX, term just not as of But as is the last average Taiwan. with the only to ticking driven bit as. terms recall, a deal XX did deal years, about well also over we with you payment are that the had extended That Our primarily couple in XX And is Japan months.

only but not that being has with It only buy a up to life to putting five commercial the ticks the life funding, not cycle cycle So is it the funding the of we're the longer that on, the could be in by will on it three market. education necessarily that In because they they it term -- license years. seeing a which tend average. and timing the of driven is device they're were

Robbie Owens

your And remind what's price and FX exposure how is? us could you overseas you

Jill Putman

Yes.

dollars. U.S. our So we are primarily are a -- denominated primarily deals in

business total single -- it. exposure has actual FX We have low our less of than to digits

year-to-date of $X not year-to-date, So less at much than roughly. million an all impact

Robbie Owens

in a And higher that U.S. lot more or the there period was with of discounting people those paying products, dollar... happened

Jill Putman

the John I here, in that anything noticed finance don't let team around the discounting. more jump think but unusual I'll

John Strosahl

No.

the are the any some markets U.S. period. channel done XX% fact, outside through In at in

would intermediary we for as an that So currency. have

Robbie Owens

the Great. Thank color. guys you for

Operator

Thank you.

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

question Your please.

Brian Essex

right. Good question. the taking thank And for you All afternoon.

-- all, Jill are a to around guess my on solution to in Great results Apple chain Could of context often both. often you I quarter. little noted of long How covered you the congrats how as the is start, I your I bit commented who First you like you acquisition? Dean, to see. in the guess, And offer maybe I'll Ian, headwinds supply with congratulations some quarter. others and think deployed device have? maybe stock deals, concurrently for someone versus as And maybe hasn't the displacement? new greenfield echo

Dean Hager

Brian. question. Good Yes. from you, to hear Great

people at out Apple encouraged there plenty current there line a our well large to always that Apple's supply isn't the With the the there as the that so is row. results is been where of expansion constraints have And things of within them to quarters is is grows, a really a market documented said, lot base, correlation sell have directly to into our several for ours now one existing devices. in-quarter and in back that even we've not look take of to for a because one jump tie So base there. we product

than get heavy getting QX comes come be does the base the dealing to everything effect. is year. in everybody macroeconomic quarters. to QX that on a we education it talent of I that for school probably new more devices look markets, set overall, some But is occur than a it have that more as be supply where whether or since device to commercial of there around the new be we will year, So say, kind purchases in a those in bit other And war is education to at with, that -- you And issues little education saw quarter, supply in uncertainties. of or instance, there, a for bit order tends they will more a ready when in cumulative of would school and aligning a for

solutions for All of demand that covering things something mitigate And is some becoming innovations, I comment we activities the because sides space replacement solutions. management attractive security of platform. occurring are with market, Apple's and and same as able the increasing the recent that of within super we as John coin. well those management it important because and security remarks may given the now the also know, as are increasingly same just the in space of Apple. are with vulnerabilities And some you occurred counterbalanced the on and prepared reiterate, I to keep two really that will that has is of said, those consolidation seeing need, see you whereas significant pace that -- market monitor an of are of to my for

in things, need result don't a expand those all their eyes. market all of Jamf as Apple share to we at So or of order necessarily expand for to require

Brian Essex

makes Got That And Really follow-up. a maybe it. color. helpful sense. just

in retention? context about commented without could around wrap retention. the that of also of range that ongoing kind a being $XXX improvement some it factors drive little key now that Wandera Wandera in retentions dollar there dollar you net and been have improved still how maybe And You in gating consolidated included continued dollar at improvement Wandera? Would might

Dean Hager

largely somewhat that all-time just because three selling gross that somewhere in with to mean, Wandera I started dollar nature the expecting we as drop high, point yes. retention an not the in is Jamf year, carrier retention. over because really to the as of So last mentioned, right, lend to between through historic historic when well we've of gross were so high two retention consolidate net does channel itself mostly Wandera channels, the we the

quite why through solutions, the providers, channel to those security for that a some we've a of couple of channel the channel only Jamf's that not But lends have for solutions much to go the since And to up addition itself cross-sell we over many plethora to expect have time. on down that's we still through the been well. opportunities redefine gross that's go time. anticipating so in increasingly customer now go selling as as to historic we to retention higher and back continue we security that for a So carrier but channel, of why

Brian Essex

so it. helpful. Very Got you much. Thank

Dean Hager

Brian. Thanks okay. That's

Operator

Thank you.

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

Your question please.

Unidentified Analyst

It's Vinod, okay? Raimo hear on the actually. Can me you for

Jill Putman

can. Yes, we

Unidentified Analyst

I -- first for was brought miss Dean, good all my about you the will The you. the up a Jill, Dean. if question we around best, in the think -- consolidation point space.

So gone, has VMware like gone way. MobileIron has has Citrix gone, in a

-- like of -- players think do you're the who see like kind do perspective, So like is you in something if the who you that out? already playing see consolidation that the from forward? the market, about see going you what's more you that your Or anticipating happen will do is

Dean Hager

you you, thank Vinod. So to voice. Good hear

solutions, have a you of If past parties look take doubt from for of at instance. a that the those changed dynamics the has been years that consolidated, without competitiveness

really that's say, only pace to we with, compete who organizations with -- on get X we all really keep customer when needing a years anymore simply is solution going with our don't Apple. Some to of let's we those competed ago, at

doing replacement. So if a actually and we're going in

the on the changes. happens, And industry of happening. just keeps it more that dynamics the So the more competitive

in year, getting isn't seems know, and Apple to consolidated. back it As forget the you it. you well somebody if has every been go into it space, set And it like history,

pace to have Apple. keep with with innovating You

just it for itself engineering less organization. to so with consolidated doesn't lend their investment And organizations well

that And repeating So going very operator, hear it's And as I continuing is I forward. just you. our think -- good is for compete happen. our am to market the to bode it's that going and think to it in to seen, we've well Raimo, I ability I apologize

Unidentified Analyst

And is follow-up Dean. the for you, my and Jill -- for and maybe it's -- and

talk If you back-end the people of of space nature this about think loaded earnings lot season, in a the the about quarter.

of people of You that that got are whereas conversations market play well, Or kind June? what you continued has a comparison the are you -- as that actually very, out to the terms Has struggles in July that of you here actually. and as July? weakness in about that seeing for customer there? seeing guys the done field very How hesitation because in continued most well you you've stuff saw now are you did slight think or what in how in

Dean Hager

organizations we bit assessment. -- isn't It will there's going anytime some a really To just market, almost the do bit my sure. of bit before is extent, in it's a are changes little frankly, an just just Yes, just, seeing there's away. by We're seeing pause a not a of some device minority and the of we're I budgets sure but me and deals, a really right far this exactly let agreement. count -- make finish the hey,

quarter a month sitting your I've more closes. have So of comment, quarter whether that Mr. treating I'm as job They it's QX, quarter. possible. -- do always to organization XX extraordinary they'll towards it's he concur tail resulted And bit if they team an end each here that of in right in But next with Stroll, an the do runs that -- the I does this one would a the normal,

ever as I've through speaking, quarter that And well is worked comparatively as so balanced any the organization Jamf actually with.

a sales be So end, case towards very of type bit that stick we organization. spread not QX pretty as but typical tail the And might We're see are quarter. to we more the expect well little much in I a well. hockey the throughout

Unidentified Analyst

again. Perfect. Congrats Okay. you. Thank

Operator

you. And Thank from question line Reilly next from our comes Joshua Needham. of the

please. question Your

Joshua Reilly

guys, Hey thanks taking questions. for my

as your the some Is found up then of well? initial reception broadly, how that opportunities Apple. what's more that education those? shaped to a districts have from back has education seeing Curious Chromebooks the to actually now years work going versus couple are have this that bundles switched you're Our recently ago summer that in expectations? launched. new few customers large what And a on You

Dean Hager

few I great people that, that that is offer. a that actually data seen I've about Well, as think you well. point write a

is found big We have can Apple bit are technology with do a in for very than a are actually as quite change there districts and more ever my done. more that education. more is if commercial going just we moment, difference using Apple what popular the frankly, that learning, within order the And provides done of is between the Apple technology-enabled you education to way an a Apple. view, as active in the way seeing classroom gets came Chromebox. to factor you that change form with learning And realizing and In I'm

Chromebooks And prior deployed we to international Jamf they yes, So form move not a the who care it's that for of factor. tremendous have to presence the districts seeing mentioned, just want say are Apple some Taiwan U.S. to that the or as of XX% on means majority schools John instance, schools. those to within -- those Apple And Jamf I'm opportunity win health for the education. within has sorry,

Apple. are more We realizing education as value and of our management. with truly bundles as offer we -- done think go schools don't changing the more, And gets I far way So offer security. don't just just the

classroom. the in are We

students. the engage teachers. engage Jamf the Student to Teacher Jamf have We to with

offer And the empowerment Jeff have those safe engage the Internet. protection only We the Parent parent. not to we students, but with now of

Joshua Reilly

that deal getting I Or I how the then mentioned deals four acquired? cross-platform of was in May vendor a in were announcement out. follow-up, the these deals that it. catalyst you much How as in quarter. deals for came the place? just much announcement some the when late catalyst a it was think for And already Got think a those was of

Dean Hager

deals around that rather you things rarely turn -- some four sizable. I all the Well, mentioned were

from in matter So all many of are that it early speaking days, set time, size occurred that way that of is tell which you're in a those my they you which opportunity But I that around we amount will events. of of rather seeing a such complete typically saying replacement of. deals short do not turn unusual the is to of after event is

Joshua Reilly

it. Got Thanks guys.

Operator

from the from of Securities. JMP And you. Marincek question line Joey next Thank our comes

please. question Your

Joey Marincek

what to And of Thanks so more Jill. of seeing for and kind at the What mean on are Jamf? for funding team. maybe Hi, that particularly more opportunities the a I end. want there? And much what kind environment, in specifically miss the questions. you said dig on lower you bit difficult I'll could

Dean Hager

catch didn't I sorry, that I'm question.

Joey Marincek

can now? guys Hey, you me hear

Dean Hager

Yes, now I Yes. can.

Joey Marincek

what competitive to What wanted more you funding just I Yes. could on of on a specifically difficult in for bit more with guys environment, opportunities seeing there? the the kind And the Jamf? setting. are end? that lower dig What that. about mean Sorry

Dean Hager

Yes, sure.

when bodes and well like consolidate they've we now, for strategy, that overall speaking, historically. But leaders on of does So I it attempt well And someone when couple more do are affordable it competitors what been a to enter funded and market. relatively particular that right Jamf out bets face the solution. a usually known few well there Jamf's can what where fairly some of is mimic get enters to you they that the conditions and this market generally market dependable think there end attempt to we're on facing also a of who low have solutions

some we within opportunity like get there, So in we of and all threat IT our one Fundamentals, security, management purchase, solutions there's e-commerce with identity, as that Jamf end shops for an have can security market think up lower all purchase. where bolstered simple simple one us purchase especially

there. also bit that budget little current will organizations opportunity see We we the be a the low-end yes, probably environment. -- So know more in conscious

It it. month And I to customer is creates for so Jamf month. should really Fundamentals. a pay-as-you-go take Jamf Also just mention of environment that nice a Fundamentals by for advantage a

business a And So out, one it there. we've nice that I to try for that go give think month and uptick bodes seen a strapped locked taste, that the it just of they're that's low-end financially such know reasons in. wants a not for also well a

Joey Marincek

term? so And infinity know Jamf Awesome. there's follow-up. in for lot see most where you but the opportunity Thank the I helpful. a Super of out a much. do just near you quick there,

Dean Hager

growth to I'm it love. truly resources short, you that. automations access they in customers management going super great terms right now to all many same enterprise of sides two of the Got employees unusual be like with help the and thing. And term, the short feel There But geography, coin, to create questions security, product and that from in short, actually is industry. there employees this is of have trusted say that are going that so a

the -- So think that also we grow I base is once some But that's that well the believe mobile that iPad, to we as we penetrate Jamf the that product type see devices. instance, skids going within constraint And I bode do MAC for the are supply logos. enterprise I we very, as the and they're to our look on believe, for of sets grease future customer facing to as of penetration enterprise. through new the MAC term, going going we laptops are believe are going the today, of bring longer issues our apples within kind to to continue very for those that of the of I become and

Joey Marincek

Thank you.

Operator

you. Thank

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

please. question Your

Koji Ikeda

my your of for best Thanks Ian. taking looking And working to luck question. And to you Jill. with forward

Just driver wanted is actually stronger question than previous MAC the about seems the and MAC iOS. iOS. a and It follow like up on to a on -- driver asked mix strong

from if should how here? supply about from we mix versus any there chain? Apple think iOS impacts are And MAC Just

Dean Hager

Okay.

Macao. that, start And result, it financials. Koji. Laurie. So the of sound is that historically assuming speaking, you're And factor first as contributing really like overall that Jamf all, most in I'm our it course, of a doesn't to got

that several iOS really be global we the brands. that has out commercial iOS, for space. Jamf managing But mentioned especially us. top years, couple started as And strong actually to there, continues recent the XX the And the and reason that in fastest fold. is much very including larger times market share for notably, are of have to securing However, the penetrate of is we've segment a very, that MACs growing in markets XX

it is mobile Android. much to generic iOS belong managing kind frankly, a MAC installed really to organizations question quite to more than base, it So bring is have Management the when solution of a It's does it devices, managing do cross-platform isn't the And in similar a system. that belong of need in provider or Enterprise in solution. more managing another question these of Apple you whether iOS days devices

having up end already our growth because their base iOS we so And move natural to tremendous fit organizations iOS devices. it of MAC find a have that just

of Bull, As iOS a our from They exactly in in matter long heard us that was had to Red customers, Jamf there. for their decided one used prepared well. and as what fact, you those was of consolidate happening devices MAC remarks,

Koji Ikeda

Yes, sense. Dean. it makes Thanks

Dean Hager

lot. a Thanks Sure.

Operator

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

Dean Hager

I strong down say, Well, it know and and thank catch busy up very thank had on I isn't our want just contributions day, a want exceptionally QX you of the at optimistic also for on to us and, to with I course, congratulate on here and career very again closing, Jill, the Jamf. incredible of you once earnings everybody. much, an rest are to thank a today joining easy for retirement we In an so year.

while balancing we look strong ahead, as with pragmatic security we our solutions, are being management positioned well are the to innovative First you outlook we continue uncertainty, macroeconomic developing market the our the very for Given and to demand organizations win provider solidifying trust Apple. best power suited Thank to as the further much. Best, and by Jamf Apple of are that our Apple solutions

Operator

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

You may day. now disconnect. Good

Jamf Holding (JAMF) 7 Aug 222022 Q2 Earnings call transcript