Earnings call transcript Q1 2023

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Operator

Thank you for standing by. Welcome to the Jamf First Quarter 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions].

program recorded. today's reminder, a is being As

And today's Investor program, like to Relations. host for introduce your Jennifer go now ahead. I'd Please Gaumond, Vice President,

Jennifer Gaumond

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

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

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

Additionally, release John's Dean's we to and a retirement announcing press X, CEO, issued XXXX. appointment effective September

on the of information section this Relations jamf.com. Investor access may You

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

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

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

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

Dean Hager

results ARR which our million. was Jamf strong $XXX.X quarter year-over-year of grew expectations. for XX% amid everyone Jamf's outperformed macroeconomic consecutive non-GAAP both us. exceeded the of revenue in of where XXth reflective you X%, is to environment. the our year-over-year Jamf's difficult of to marks was quarter this QX performance are continued thank and high outlook. margin end operating QX These and joining Jenn, you, growth XXXX report pleased Thank that first XX% Jamf

quarter, slightly logo adding the XXX,XXX We ended on devices XX.X Jamf's than new devices, Jamf quarter, for XX,XXX growth of more demand added offerings XXXX. security or saw in and customer QX retention. and running QX than to million continued approximately QX more we last with strong management with we within customers Similar

which the remains purchased hiring of and due While limit has uncertainty. muted have existing This been rate new organizations within and to growth at solutions the Jamf led slowed have time to significantly to continued high, both devices at expectations renewal. the environment, demand macroeconomic for customers their device uncertainty causing purchase a

macro most to last well due and part significant navigate our including And these profitability. of quarter, to to continue take value customer as factors, prudent anticipate year. a and we continuing as for Jamf the of of a number outlined approach these headwinds outlook, differentiation, remains to growth challenges we XXXX product to positioned

team made we we enacted both expansion of last year, growth a bottom-line both in improvements this QX, our In this and In QX top-line to deliver sales Jamf for initiatives in number strong cost of and when margin investments year. order conditions and approach targeted improve. macro to continued future position

expansion device that they significantly the PC tracking Gartner, QX, declined PC by the began research. to in PC observation further. our industry even has shipments quarterly According market, since global marked market. decline, is the across largest look shipment slowed we And As supported year-over-year QX

has significant maker trend, Mac QX PC decline a despite Apple escaped most. fared better this than no While in has shipments,

share noting resulted Jamf XXXX, period. Jamf's under This the quarters, management It's Mac that existing time, to a continues share has past of quarters, Mac year-over-year device past X% four shipments over declined market X% under-managed XX% first while over for Mac declined growth the non-Mac computers largest market. expanding under-secured have million year. larger the period, similar prior same in the shipments in history by compared all Mac Jamf Over the four worth in over a and an adding over Mac of to showing the win X achieved

is choice Jamf meet to they Jamf from refresh. at see by organizations continues to demand the from at in with of who of study employees a Mac, use case a to switch laptop that their creative customer, was hires to strategies. of Windows do employee choose technology noted use Mac preference One Cisco Mac to when only increase, same leading employees Mac Windows choose new choose programs XX% up documented Cisco, example work laptop for for more not as home. to recent create XX%

and provides and renewal. refresh, XXXX, base Combining also the believes replace and PC of that be an customer will by start to the Mac of up IDC's Jamf come devices growth who trend aging expectations the Windows with their fleet growing grew installed will computers. In Chromebook to shipments by both year, choice another return that XX,XXX QX, end iPad for will of this employee technology to towards population choice, employees aging Mac their Jamf the at a that

move consumerization lead expand Apple platform security personal Overall, the market work user share non-specialized reduce goals their an achieve the key greater as exposure beliefs. integrated Jamf in and provide same not of to the Jamf's continued on automation, three and employees Apple IT three, remote not open and delivered market as and And experience are solutions designed away Apple-first, threats. teams. share security from lives will both the management enjoy and within devices that continue solutions Apple of solutions suboptimal greater deliver that do more to InfoSec most is Two, strategy hardware IT, as security One, organizations enterprise. based to management innovation will

it market when and we our strategic Apple at also successfully customers. mobile through in role This temporary where makes already Jamf's market for Jamf the other provides opportunities and margins, to the we believe expand us provide for what strategy confidence to the our standard work. customer and as sense have customers for macroeconomic platforms QX are and expand experience continue Despite market to grow, ability as consistently our challenges, deliver

and Jamf showcased prospects. annual latest last spring during of our was thousands our innovations which customers live-streamed event, week by

our we help event, new protects a of deliver connection, and identity endpoint protection, number the management personal across that organizations environment highlighted privacy. During consumer-simple an to enterprise-secure, device offerings

our X,XXX Zero by Trust an helping organizations, is now Jamf used capabilities, device, Specifically, not product, applications, to Network over with browsing. up while private can first by the includes Connect All access set the simply during Access Trust of the device. app organization's activating which be a accomplished on which enforce Jamf interfering encrypted automatically power-on

block authentication, capability Trust the to whether new and detect a has Trust. it disabled the users Jamf access a guide single announced immediately also click. user Jamf with reactivate to Even Jamf after

Additionally, AWS-verified and largest iOS support only providers with of Jamf Microsoft, for announcement support of security Jamf's all for Google cloud Google QX and management three BeyondCorp, solution the new for with and the provides access, AWS. week's the integrated frameworks delivery of ZTNA last

its password has provisioning using also and the OS which FastPass user with local Mac Jamf sync, enabled activates OS device, devices. security Mac secure SSO and Okta of Okta together expanded Verify accounts partnership credentials. Connect Okta Jamf deliver Platform Okta identity best-in-class delivers for Okta while on

security user ID enjoy or fast of a major able using apps all step devices owned iPads. the means and enrollment, enrollment secure ID takes face on login after This their Jamf their forward using dramatically and logins BYO driven SSO, to Okta. enhancing touch enrollment onboarding account iPhones simplify users personally to process, while company With to are on

we year, of Jamf In for this Jamf PCs to education, announced Safe web education. last best-in-class Chromebook. year QX will week, tailor-made Windows launched prevention solution, filtering Internet In Safe a for Jamf be this content we summer. we Internet, Internet the last Safe threat And coming announced

during education the this period school educators buying and Our solution are traditional prepare next team this customers cross-platform the to year. sales have for excited as available summer

and that last Additionally, embracing on-device new we privacy. Apple's additional framework unique Safe for announced Internet, delivers week, protections controls

saving customers. to For secure their for Jamf in on improving Jamf desktop again needed, will cost launch in which remote no directly IT additional with Assist, all administrators initiate allows continues to admins summer, we purchases a Pro industries, Jamf This IT Remote the efficiency. console focus

continued empowering achieving to is notify users Jamf see these labor efficiencies platform We're new available. to to to update has Jamf supported to as the money also reducing help customers we consolidation, the have titles number market risks. application security IT App Catalog, come innovations when an excited improved automatically installers, and app through expand also of by our save

decision Before part to for retirement I retire with hand regarding things My been some want appointment my to share over I to Jenny, announcement thoughts has John, personal CEO. some and wife, quite to time. plan a of John's today's on my

to the felt begin the planning. my us Board given I now I the of transition right is time ample informed that knowing Jamf's has process. With Board, intent time succession the for support recently

experience year Serving Jamf's honor career. the as been XX greatest has and my CEO of

together the most them. I've past come pleasure to been blessed selfless years, to ever teach They have the Over than could eight with. have create ever to who incredible taught had I've the customer team more me work I know focused people

knowledge, President experience first have for Jamf as operational John global by he since worked the of this responsibility, and Strosahl. that I been my businesses joined side brings in took together years, XXXX, industry, I rigor, Jamf's continuing over wealth and role with for When in lived John has and the for succeeded January XXXX. John rare since additional was as XXXX hire in a preparing is succeed side all COO all He having years. serving and countries world. to eight on

all channels past functions. has half, organization to the John, including sales marketing, product, For all our of a and already support most and year and reported engineering,

an eight execution course, development in successful of his year Of played strategy the John Jamf's also tenure. has role and integral during

I one with Jamf's retirement, my people to through matter Jenny, technology having hubs. my focus role my for I enjoy to of will to of along young plan work also with on Board continue Directors. time passions, more on innovation bringing the As

watch I will to do this the Board, in course, front In using as member as a classroom. we properly, short, customer. of as success the solutions will to row Jamf be a a to continue seat have and a Jamf shareholder, Of

John hand to of and to highlight over John? momentum areas things I'll QX wins. Jamf's now

John Strosahl

for forward you more I'm investors, Board. our your and this to And grateful partnership to the looking as work guidance on our Dean, with years, look on Thanks, take forward closely kind together new continuing role. also the for words. working to I I'm the and I over

customers, decision my Jamf Dean My than Dean more and career. Today, is to business. our joined, ARR a and to has of I join to Jamf's Jamf's not be see was when I'm it what the laser-focus is XXXX lead future XXx and in which more this decision employees. direct brings honored excited innovation been both to back team, on the and best result in could what I

expanding our power to expanding our technology service progress, great to influencers and of customers. Jamf influence made the and relationships with bring partners British In Microsoft, the AWS, ecosystems, span including more key These Jamf relationships QX, providers. managed like channel Google partners, and reach platform industry Telecom numerous like even

Accelerate the or AWS spend in Last to the best quarter, in making marketplace, bringing sales customers to products. and purchase Jamf's use we AWS and Jamf credits collaborate available joint Program, teams discussed allowing AWS to participation serve Jamf committed AWS annual Jamf customers to ISV their together

substantially in In train together AWS to our worked teams introduce teams. and sales We grow collaboration Jamf we for anticipate side-by-side time. the this dozens QX, first of winning successfully go-to-market accounts and as

a is customers Microsoft of Microsoft technology QX, providers integrated their excited also expanded Security Jamf independent of sophisticated ago. better have with the against cyber is software themselves increasingly threats. member announced which help Microsoft an security to which two be ecosystem in participation Jamf's to Intelligent who defend with now we Association, solutions weeks

provided Protect. Jamf inventory and and systems, Management. through integration benefiting is the paves Pro between customer to by of integrations for in to monitoring all management to Endpoint a mobile the and partnership from deep devices integrating from the Microsoft our ability and Microsoft work to done over we've monitor Sentinel, and way Mac and visibility the This Jamf products Jamf position Jamf's Jamf mirror This seamlessly solutions, together dozen Microsoft latest the order protect Microsoft including

across expanded space, one to to further platform. was communication with the relationship carrier services, space. this arming delighted partnership to we our are Jamf's security Telecom, entire the Jamf and sales the the acquisition, Wandera and solutions key BT team management partner expand we BT world's In a prior across of Jamf with leading British all

providing the on an focused Mac, While most Apple, increasing have our mobile of workplace. on and partners many solutions focus entire ecosystem the bringing to power for Apple the devices, of

fast food retail simple-to-manage to Jamf partner, solution locations signage. collaborated a for with For deploy to their example, one TVs franchisee Jamf digital solution across provide signage, digital Carousel as large a Apple

complex ready. in the for simply is latest certainty makes has Jamf's example of Apple Apple's all and unique over offers including XX support technology Apple enterprise workflows Jamf how Jamf The for all reason Apple key the partnership operating and an Supporting TV providing systems, is sustained years.

the unique to be which great Jamf's retail point-of-sale their and solution Jamf's differentiating for used began use wear this athletic that in trend in is manufacturer who Jamf supporting iOS competitive for in strength to X,XXX industry X,XXX Jamf of MDM identify Another devices growing both recently and Mac was management. dressing consistent stores, a takeaway, cases with solution room Apple-first to example factor a XXXX. cross-platform legacy and is replace chose retailer leading over

gain solutions, large just MDM opening two to QX, forming emerging in moving managed XX,XXX share interest market. In up significant new and from trend who opportunity is Pro. an replacement legacy a organizations by Jamf Jamf a Again, saw accounted base Jamf market MDM existing for This in from of left provider, QX, very iPhones. iOS accounts legacy installed iPads for away seats

we which to with our threats. to providing Protection an built industry, solution advanced advanced November. as respond the customers Threat upon help reducing increasing capability against technology mobile is launched greatly This of investigation the extremely This mobile competitiveness acquired Jamf is the method for attacks, periods. unique last devices, part Further acquisition, we remote organizations monitor efficient, ZecOps and security Executive mobile devices mobile recently to in closed defend

who ranking and for device to targeted into to sophisticated extend the identify security these high introduction protections the of government that target as be threats high most traditional lockdown management by extreme XX. Protection the and personally iOS is designed mode users users might with visibility sophisticated digital threats journalists officials, offering such in going of Threat began some beyond value Apple Executive digital endpoint employees. Jamf attacks

management for just both Finally, we that with and we're access. but plan. one, also solution outcome a across simply and integrated and Apple vendors customer and Jamf's seeing momentum business multiple devices, management call with customers enterprise replacing plan an not Deploying security corporate delivers trusted security personal

only the in they One Jamf Plan Protect existing lag QX, between cybersecurity upgraded can key their that too are Okta, which struggling for gain of Jamf possibility to action, Jamf Other vital contract enterprise remediated Jamf partners, minutes, a to and few the Enterprise our Jamf incident opens it for up a exposes this reason. customers access to a adding organization minutes and compromised but if Pro because Connect resources, to still contacted with time have device threats. few is long as an

and action. Jamf's between with gap security access combination trust and of endpoint grouping, exposure protection dynamic management access remediated controls critical with the zero patented device blocking closed

benefit have reason While providing and primary economy, we the this is trusted in management pursued is savings. another strategy, access we security our to cost especially found simply customers

business different a endpoint incumbent that access including response cross existing seats and savings from technology management, privileged seen platform plan their One [ph], MDM, customers chip purchased and protection replaced company global like solution. solutions, Jamf. Jamf of solutions possibly and antivirus, security solution, patch X,XXX their customer, a recently Australia BigCommerce, Buff management endpoint and detection We've also with benefit in Stovall cost five antivirus

from best-in-class to external needs teams evolving workforce. both. affordable In solutions anywhere today's threats, while solution IT of require provides InfoSec today's need economy, respond the meet teams to rapidly an Jamf to work

I'll Ian. over turn to that, With it

Ian Goodkind

QX our XX% Thanks, exceeding outlook. John. high-end year-over-year, We growth revenue ended with the of of

XXX,XXX device private device performance which more testimony who Mac of per customer and running ago, Jamf's cloud over additions over their versus deployment, of over and $XX platform, year, tough new a devices including XXX,XXX of economy, X,XXX the driven on of slightly ARR XX,XXX additions added to per to is solutions. year net one Jamf's was the success upsell devices by the to which expansion than $XX cross-sell security prior a the customers, strong challenged by Although is net over our one

to million. grew XX% year-over-year ARR Total $XXX.X

ARR a beginning constant As fiscal the currency rates year. of using on FX at each is a reminder, basis reported established

approximately our negative a ARR had on FX impact million. result, a QX As of $X

As muted We anticipated, consecutive expense device retention quarters the total saw will the in a we growth driven believe four of XXX% is macro due as QX by of basis. as a would the non-GAAP at well hiring be expectations customer improve. renewal primarily this remarks as in and expect on increase company impact items, to rate difficult increased affects that profitability to macro net to decline metric of decline margins, environment, conditions on remainder my we churn. NRR and The

and with results, profit the earnings our GAAP was our gross are within non-GAAP non-GAAP financial GAAP margin along QX XX%, expectations. in between and reconciliation release. Our found

We the range, the outperformance margin in each $X.X initiatives. or low revenue in continue X% at operating of expect to QX high-end anticipate slight to gross exceeded the Non-GAAP XX% and cost quarter. also our of outlook impact margins fluctuations million due

trailing unlevered decreasing compared prior was to year. flow XX%, Our free the XX-month cash margin

we contracts. reminder, and pay a software in our annual large bonus QX, annual As renew

Our effective consistent X.X%, expectations. tax is rate negative with for our QX

taxes use taxes for immaterial pay note As tax of amount domestic federal amount rate is reminder, Please an on U.S. non-GAAP which a and cash that pay our outside currently we negligible cash of basis statutory the for XX%. a a metrics, we U.S. impacts, calculating

of business expect remain Now turning the of to innovative intact, our rest Jamf's fundamentals outlook demand for year. the we We and underlying continued for the believe our solutions.

Dean value our solutions customers. continue John, platform to and tremendous our to that we As extend provide and heard to unique from innovate you bring

headwinds likelihood through of remain our However, in we year, the prudent macroeconomic outlook. of most the given persisting revenue

we and flow consistent highest while expected generation. continuing to remains, expense in areas balancing with and structure, continue drive philosophy return growth reinvesting our the cash profitability to strong, overall Our of with judicious and be

to outlined of been rest cost we to execute We year. giving quickly areas, as realize confidence more initiatives quarter and the the last able continue look us in to savings have we some the

end operating XX of income. operations and we We've savings customer-facing help QX, FTEs, both overperformance had drive non-GAAP that for also the By in office we of efficiency the scalability investments count some back onboard by in lowered resulting begun projects and in head our cost making in achieved functions.

to savings. operational further will continue investments provide in will cost pursue excellence that We

As such, is full-year XXXX our follows. for quarter second and outlook the as

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

For the full-year revenue are total range to representing million. $XX the million are previous income we range $XXX million, $XX XXXX, of XX% $XXX XX% our tightening raising both holding of year-over-year, and growth operating million for non-GAAP to and to to we

QX non-GAAP event. Additionally, decline we QX planned slightly and of for end operating event planned week's of events, anticipate were to the merit and upcoming the from including Nation QX QX, the that out impact marketing increases margin at Jamf spring annual last rolled due to live

You the two this years. our for income will note operating the past seasonality matches non-GAAP of

drive half We then margins, full-year the cash free free decline cash margins increase from flow anticipate margin exit the a with QX year. seasonality operating provide we a income outlook margin teens. to QX second percentage XXXX year expansion, while XXXX. will QX an unlevered As for anticipate to similar we to And flow don't non-GAAP expect progresses, the further and unlevered in XXXX of we low the in

to with estimates the presentation webcast in assist provided also website. Investor as amortization, also of other posted and modeling the our Relations stock-based compensation-related earnings part taxes We metrics and for on payroll

John, your Dean, take And I Operator? now questions. and will

Operator

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

please. question Your

Matthew Hedberg

obviously, company basis. seems That hands you. first all, is promotion, certainly first your John, Thank it Great. news here your much. of the go-forward congrats, on on in on good you like is Dean, And And really exciting for retirement. very a

of success of to resonate when I'm have focus congrats imagine well. you like curious, talk like as of and you. Okta the adds become just are under security pressure, that Because for continues much I with increasingly of side. a in both the how maybe initial device -- security. lot a I'll about to and to John, that's today script, and in So time. you're -- versus talked as to time we spent you both for your initial those to a us on keep is some device the it obviously, question straight lands you, land partners having and of management sake What upsell? channel is on one And

John Strosahl

right. It's of for has per have within thanks while customer customer the adding us may more five device a security they vectors the the different security certainly the Matt, absolutely one forum, Yes. can given question. products many products. And device, security into management you're have

had we've actually security last from this and so were large this quarter we've And Difficulty] deals expanded [Technical there.

We've on great security bullish So we success course, And continue plan, really includes, will we products of business the that. in to in area, especially as -- we're had our which accordingly. SMB our well. invest

Matthew Hedberg

much. job. Thank very you Nice

Operator

Thank And you. from question our next from our of next One Raimo Lenschow question. the comes for line Barclays. moment

please. question Your

Raimo Lenschow

if you Congrats because old, question. don't that I really old. Dean, although think Quick from well, as retire, I you're me feel

If their customers your And terms where feel conversations economy kind journey then of do like obviously, normalization journey? a little -- deployment, have follow-up. how on about in that cetera. as about are et with size, do deployment you you suffering, But journey I of are seat-based on we terms -- their of in thinking model, where It's the customer you suffered think of a you obviously we think kind like a bit. the one

Dean Hager

shipments? you speaking for terms And you Thanks, perspective Are the devices customers? where our in more from on Raimo, within for we're of on for the just at a device penetration our like thinking question. market clarity, are

Raimo Lenschow

shipments actually, of latter, playing that's how kind on out? More like and the device

Dean Hager

Yes.

you buying Gartner little IDC if and since is the now those of on a to that numbers, for months both IDC there's on in the Well, straight up a as if Gartner comments, to really be shipments clearly, pandemic six Gartner bullish decline the you and occurred year-over-year I for because straight But and attitude the go seem you really gone when the report the has read to of biggest bit that's my been XXXX through in we've recorded are and devices going on thank record reports, to, go coming device refresh. it. that. of So more beginning mentioned tough. pretty watching comparable But

what find And interesting end is higher share I what take is look what today, points three, you if at the XXXX it's of at was a four today. it versus market Mac

the aging come Chromebooks So the same flip seeing follow for and up Windows those trends computers we've when if refresh, going are today. they market more Mac that and of to more been to

the So with at shipments agree I'm little to love looking that. where the would and to say start see of on going would is, year end this we're of towards a IDC I bit recovery to that device

XXXX think the bullish I year of be more a to seems on bit that. little

Raimo Lenschow

Yes.

of Okay. Has then And the lines the meaningful? coming on. the increases Is for like like the year. impact follow-up, then should had -- on here about impact think Thank Perfect. pass what's how ARR? and like on beginning all it other at Is that And in you. product a we Pro Or you through that back few price that? I'll that one?

Ian Goodkind

are Dean, announced we impact here, it. pennies. question. in ARR jump just mean getting yes. can customers it, on Thanks Yes, I into is the for Yes. just the just I

now, see right talked de starting and customers drive impact. John driving again, that's have is about posture. in, it security come ton And starting helping really our What's it. We that But will that's latter minimis good in get impact. a will earlier, we're plan to that, to savvy really a and business sales, half, really we're where of the that

Dean Hager

has our significant is be more well. the to news price seems that increase that being and that's there positive on receptivity from value delivered, good is customers The the been received

Raimo Lenschow

Okay. you. Perfect. Thank

Dean Hager

Thank you.

Operator

Thank line for the comes And our our question. William you. Matt of from next question next Stotler One Blair. moment from

Your please. question

Unidentified Analyst

more future. on Leszcz with and work for for to Matt. Thanks the the Hey congratulations, in echoing Also you This guys. John, taking is Alex questions. our [ph] excited Dean

in for weakness May? one areas and me updates April on you are just quarter Any Do particular macroeconomic there environment. any into from call So to or the the any -- could strength early and you you observations first share have of out? further

Dean Hager

Well, sold I'm coming management thanks to and perhaps to despite for have to of it's has on -- customers into I'll that else and most quarter off the excited Alex. talk somebody frequently best-of-breed historically, price. solution about enough for a sold lesser Jamf you what offering is, good tell you, solutions airports, had a question, first we putting a good

Jamf's on identity that we have they now But we solutions are five the with that solutions security and one. management only Jamf versus more and different several entire platform solutions, an more finding one not are platform our customers Difficulty] offer they but of what offers connection, comparing price business [Technical any product, rather that plan, and weren't the

vulnerability pure on together the it the the the we've of to saving door remediated Difficulty] in and a customers for action. that was of purpose consolidate security working bringing the of platform. shut to then management And QX in before than and Jamf that, [Technical money decide more to ever or probably value saw additional seen We addition advantageous solution

really that's exited QX. what I probably So

Unidentified Analyst

that. just Perfect. follow-up me. other you it. then for for Got And Thank quick one

Have it on deployments? in there expand? on little reduce comment touched You is but environment? a prepared that -- you to in this they buying could bit your customers to with you slower just customer are anything little seen Thanks. Or remarks, behavior you else a have any

John Strosahl

Thanks is question. for Yes. John. This Alex, take I'll the that.

have. We

line to products taking Companies to industry. broader taking to We've internally. see across similar or approach of have. going a not a ourselves by in are our some to we offset we're more But they're bit judicious that variety many sight. like whether been of discern to just having It's able customers cases spend. the into sell them. from seeing longer little We a are the They're waiting

Unidentified Analyst

Thank Appreciate you. pass that. Got it on. it. I'll

Operator

you. our moment our Company. of next line from next from One for the & Reilly Joshua Thank Needham And question. question comes

Your question please.

Joshua Reilly

there. John congrats put for And thanks questions. to guys, my well taking out I'll my and Dean as Hey both

at and that upgrade and initial seeing that you with for the change work tough year value kind here look this we're you still that as of the proposition for in the security to what a MX the of wave If market? in consumption launch, comment, comp strong just indicates addition is And MX. similar MX with power isn't material MX, Can so Apple the that create that with seeing macro as you a does versus our offers in MX well? MX price cycle challenges you're the

Dean Hager

on that of Thanks for the know the versus on don't expert the be an uptake that question, MX I I'd in Josh. But MX. terms

seen within our customers haven't to perspective, and [Technical More the really then, does of is course that alternative the either We Difficulty] Difficulty] comes it versus that Difficulty]. computer down would [Technical an of deployment. from efficiency our [Technical price so really non-Mac dialogue what

back against Mac battle the as know, more in day, versus the used performance, the machine. user And to you well have is today's price [Technical preference a Difficulty]. they But to expensive not

I Difficulty] As of a strong matter very [Technical provide cases. have fact,

with cost was of week, last As Air. buying talking of advantages specifically I MacBook the in a fact, a CIOs dozen a room matter about the

computers. Mac quarter, commentary, quarters, my over XX% but the So the mentioned versus year-over-year last four four for the last non-Mac decline not is in year, quarters, X% for if look one you I

So that's really what our is. focus

Joshua Reilly

comp Thanks. it. were a the ARR sold and current helpful. bit of a you And sold at think. that in macro, sequentially. ahead if mix are that's there might That's slow And actually growth tough pretty devices have trends did that you while that? in look education Got quarter impacted terms in of managed some XX%, of year-over-year per strong seeing devices the the the growth quarter? buying more cross-sell device was this the I off device in And then actually What season of the

Dean Hager

Yes.

that ways, the commercial the But at on larger in we of numbers some it's Mac us last in And shipment in is kind given a share. what in the devices Mac specifically just over necessarily overall year. winning when we markets, year. not of tells year-over-year to So Jamf is surprising atmosphere fact of look devices a it's education recognize our perfectly the be the To studio grew expansion side. that by honest, this XX%

out So under-secured Difficulty] and therefore, of [Technical lot just still. there Mac there's a under-managed

grow year, So for did. we will even shipments believe bodes device over That in the the shipments when normalize pretty come though did last and still Mac we the back. well

Joshua Reilly

Got Thanks guys. it.

Operator

question. line for our Thank Bank Koji the of America. moment you. of from question from And next comes One Ikeda next our

Your question please.

Koji Ikeda

Hey questions. thanks Ian, here. for sentiment and hey retirement. you. Yeah. John on Dean the taking speak to everyone's nice the guys, I to Congrats, echo Congrats,

this that announcement the question The guess, questions little a off back totally differently. see now, side your for just you get of the sense, of I John bit of business the kind want with why a to to me. it on you, ease Just it. decision a for starting totally I front. and makes kind personal what couple frame I from why going the But whole made now? you did made of help I lot get that, of Dean,

Dean Hager

a now. for has And years last I the the Chief here. that ago partnered about face mean, and when he eight in join us. been half a Officer. I Operating watching years of it, and reporting up I have closely, this company to Chief beg is John Revenue the two And then for ago and let's Officer most was And half anybody President, John, fact mean John to him. to been them year I to and then

the looked running really John as it and So organization frankly, decision at been has we that made all the just things, easier.

my really plan has a this and been a for wife, mentioned, myself part long-term I of with As Jenny. --

company knowing is made it just the so in easy that hands, good an And decision. such

Koji Ikeda

I John, you. question it. guess on directed And Got the it. to spotlight is That's since Got helpful.

or XXXX, companies How of and more kind anticipation get in or that And really, XXXX? could mentality do we start you in maybe past, when here comps from anniversarying of think times of think XXXX buying were about easier just-in-time in buying better XXXX question of thinking hiring. about is do in the we units change easier patterns? about effects times the this think when Just the and as the maybe, the -- the we

John Strosahl

Yes. about macroeconomics. Thanks, the a Koji. We've talked lot

on device memory sell headwinds muscle see shipments opportunity really better learn lot to earnings as other get taken we security how that You've we've the during and that to going. And heard [Technical a calls. time an for Difficulty]

the this that reports so we're way for can we suggest end and of at headwinds we'll the And -- year. plan that looking look the to

comes device We've early of and not device on back shipments then tailwind just back, but year. anticipate we device device a that. that of great expansion management, also got As come next a on having expansion, device top security

are really around. that's so And we planning what

Koji Ikeda

Thanks Thank guys. you it. Got the taking questions. for

John Strosahl

Thanks, Koji.

Operator

from for Mattiacci of the Craig-Hallum. moment question. next next from question comes One Instructions]. And our Nick line [Operator our you. Thank

Your question please.

Nick Mattiacci

Bennett. taking is Chad questions. for this on Nick Thanks Hi, for our

for one me. Just

performing your If any geographies, regard you could has has specifically, about segments on your in anything other go-to-market to relationship? or partners becoming changed if channel more Apple are there where then if impactful? verticals And channel how are talk and been partner

Dean Hager

want to John? that, grab You

John Strosahl

Yes, take that. I'll

channel So work is We've effort Nick, channel channel our the coming [Technical the the that well. on is with channel into increasingly Apple. as amount our how with advancing. the of in that concerted also how work in if fact, is through side. Difficulty] Obviously, working the the building our the a partners now with internationally sales And I U.S. education question, channel through we Apple and partners of our understand we a coming are vast and organization with put majority channel

go-to-market a continue we bringing mentioned, that we're that efficiencies more and there. gain the as well believe United We've and So we're to channel. in that our and going outside to seen, traction through great the as because learning the lot U.S. efficiencies from States, I there's into great

Dean Hager

but relationships not relationship, with time. it and is other we and have part our program one that's and that's is that the while entering think go-to-market traction not QX, we really John us that first a thing and in co-marketing the we launching commented on relationship which -- going the Marketplace, we -- on of happier good our that was quarter to after we a continue Microsoft, couldn't AWS did Niche with relationship that the of The relationship. a is It saw expand I'll AWS with add co-selling over like as been top co-selling very to -- just build

Nick Mattiacci

Thanks for question. taking the

Operator

question-and-answer the as and does your participation. gentlemen, you. for Thank session you, today's conclude well ladies as program. Thank This

disconnect. You day. now Good may

Jamf Holding (JAMF) 4 May 232023 Q1 Earnings call transcript