JAMF - Earnings call transcript Q1 2024

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Operator

Thank you for standing by. My name is Rochelle, and I will be your conference operator today. At this time, I would like to welcome everyone to the Jamf's First Quarter 2024 Earnings Call. [Operator Instructions] I would now like to turn the call over to Jennifer. Please go ahead.

Jennifer Gaumond

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

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

to presentation, file containing We Excel assist [ also and with published investor a presentation Marlin ]. QX financial statements earnings quarterly

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

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

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

John Now the turn like over John? call I'd to to Strosahl.

John Strosahl

from and strong, reaching million of Jamf's expectations we on of of XX%. ] and [ set Thanks, X,XXX security represents $XX.X with Jen. We started of operating non-GAAP We're non-GAAP was on income year-over-year our revenue the milestone XX% a XX% million, exceeded basis QX these million. margin non-GAAP devices XX% delivering XX.X outlook. ended revenue XXXX. off a and run customers income end QX was growth and platform. margin the of of management XX,XXX ARR. year-over-year of with our product. customers, operating for $XXX point improvement income This operating grew Jamf Both million At ARR the year the total QX, QX end the to high QX $XXX.X XXXX.

cross-sell with or drive Security to to continue $XXX growth of in ARR XX% We ARR. year-over-year XX% total million Jamf's

and saw nearly The remain K-XX remain also trends. tech the to to representing decline. X companies as in shipments grew in industries, PCs by and expansion. that see begin the ] XX X.X% of QX largest level million our [indiscernible] in IDC, device units, were year-over-year similar encouraged in company shipments the QX PC share. muted of market also market after industries in growth Apple prepandemic. Our optimistic growth of We're [ refreshing According XXXX year-over-year worldwide its years PC top X positive in to any highest continue at a purchased IDC to QX remaining during sales regarding shipments XX.X% increased PC pandemic.

uplift we on not significant data, for encouraged While XXXX does a our device are rely expansion. this outlook by QX in

solutions, information aggregate in tools meet the at their updates functions to customers include these and innovate to solutions proud across get an on alert for customers while to held and for the customizable to are special various event succeed for and for chosen allow navigate devices view tool devices. cloud score compliance remediate IT and number privileges device to to which generates We also compliance a management event an to help and baseline temporarily focus fall organizations Privilege IT Product Microsoft highlighted compliance Connect to integrations provider deliver Jamf Jamf automations admins authorization. feature teams of ] accounts In a beyond identity that deliver of team's benchmark. to new management standards compliance help and providing compliance. out organization's authentication user is a traditional being landscape. configurations and on Jamf workflows Jamf a Protect, seamless offers involved make offerings very integration continue issues. Pro Jamf with teams with Apple. new iOS editor to admin elevation utilizes and security bundled Apple with more security deployable vast local compliance that asked when for to dashboard a [ Teams endpoints and April, and compliance. allowing streamline compliant Compliance valid understand to with that detailed we based help Jamf showcase Jamf no-code OS Slack tool Mac

can Pro of access that our Connect now settings across deployment Apple and allows the support that for recent Vision require Jamf and Pro securely Jamf Jamf for Vision secure the announcement available threat Vision enroll extends native organizations web content Apple recapped also resources Apple enterprise use is defense, to protection apps any Pro. the controls. streamline access of same apps and We enterprise cases and network identity-based Jamf mobile With Vision to Protect Pro entire platform. Apple for the filtering Pro.

as across a best. watchOS to the ability management coming this relates including device Apple enrollment be they however users about commitment support We're inventory of simplifying giving types, watchOS at productive work number to that that workflows to for Jamf's provides, to announced is [indiscernible] work management also the new industries. testament and Enabling We especially it and opportunities later excited display. year, the these

our which the first the outlined important We event, hosted in about of phase all Investor In is scalability. addition next efficient mid-March. Jamf's Day spring to another event, we evolution,

I you presentation chance had review the website. haven't If be events our and replay The found can you do Relations encourage a so. on Investor yet, to to

large event and in financial my like to During XXXX. competitive I'd QX. remainder successes saw through as we discussed market, in our during the expectations our growing growth use of strategic remarks, drivers the we the strategic our and this for some addressable framework drivers growth event, the our we highlighting specific highlighted position the differentiated of moat,

X company initiative In around Key our to a to for our ability Mac in this solutions solutions was continue the Jamf's to strategic demonstrate help current demonstrate win can online [ for Apple-first, process customers. First, the with QX, travel Apple-best automation. we Leadership, best how Jamf how Jamf's with deliver to customer's years. leading outcomes ] renewed

a delivered long-term for Protect. iOS expanding including and Jamf with also Pro Jamf, for We Jamf map road

about as to using spend Jamf and to Our our ability for modern their AWS process. build, users management a front-end the with approval end strong committed to committed is to scale helping a contract Jamf growth the for towards like utilize through cloud Jamf. AWS applications. renewal in and spend can beneficial, suggestion excited manage win-win, for And Netlify the customers streamline to at with resulting their the was level relationships a was timely Apple simplifying We're multiple to build now devices the procurement committed resources AWS also they marketplace need. for customer teams continued deploy spend and marketplace customers use platform its their the Netlify, connect web leverage

a see bit the leading beyond continued great and to we continue with device to XX,XXX manage while of IT in lower devices specialty the their continue top our progress the to for softness K-XX represents services iOS are record provider, along of tech OEM deployments which across is at the one used balance X retail utilizing a encouraged locations. with of fleets, industries. space, for investments to Tech a retail Jamf QX, securely we use testament in and muted X,XXX see strong a legacy retailer types multiple with experienced This pace helping expanding Apple expanded our to XXXX. Retail, [indiscernible] with professional Jamf's innovating commitment win seeing cases. largest across Second, Mac growth, across to strongly mobile, device by multiple in mobile against with adding Jamf financial by COVID and respect for We're Pro seeing customers especially education. K-XX hiring In Jamf one workflows. Jamf XXXX and overhang services nearly was

refer driver, our growth our management as a delivering what an area expect time. are we security part third ARR and over larger to we vision total of is become access of trusted opportunity The to

deliver legacy a specific providers for deliver security budget one Jamf's UEM management have access requiring engage Our both is to customers a Apple platform solution. and providers the ability don't and making to vendors utilize platform trusted management, differentiator and connection often Jamf. capabilities. bandwidth management parties, organizations third-party the third appealing multiple an to complete Smaller of platform desire key the Both to or on number lack protection

XX% We continue pipeline We both component. to deals with And year-over-year of is this new see growth grew of an opportunities. security of increased commercial see strong a and commercial number customer QX. currently, of Jamf's in which the solutions, security continued Jamf's up made bundled by XX% management

QX, to device American for PCs, our just chose to remote the or a capabilities devices, compared a iOS were adding UEM demonstrate Jamf and their security with managing Jamf, just environment the able work Jamf business in to Android. mission-critical to environment. mobile beyond a Connect are in a security see due medicine solution. a were device company away industry We of In customer utilized customers other and carrier securing move customers, win. value management trusted largest strength became XX,XXX Jamf access includes this when management, the which a to provider X,XXX plan Mac, which and expanded mixed The brings company Also organization customer and of and QX, reduced mainline our customer's Protect for solution management devices. of with to from Jamf a cases Chromebook and our their This Additionally, consolidates key airline leadership precision churn globally. one to chose we legacy use situations, and

grow the select digital housing further the Our previously organizations I'll continue at utilize expansion, a serve results This in first our geographies mobile areas their to practice continuously solutions of and in strategic to we the for U.S. Wins showcase we're recently our and Jamf's adoption with in XXX into the Ian devices, had turn regions for agencies solution is a these using We'll to organization, represented continue Middle where for to XXX,XXX expanding threats cybercrime response. onset customer journey allow Housing right is for expansion our respect as forensic to due and a a now and whether India. than customers than for Protection business. product customer for and faster leadership the with or provide Threat their other its that and international The management the Executive more seeing government saw success in strategy Threat QX strength visibility potential. for these and Protection most to will at something blueprint to has past target the Connect with win the the win QX, blueprint in success have fleets. used outlook. Mac our embarked a PCs. investigate our Jamf agency invest products U.S. Japan. association local to each Executive sophisticated seen iOS other chosen where that of success the Jamf Threat the number secured on of and to over United continues wins identify outside to In geographies X agency customer offer seeing securing right we're largest curb in defined both country. the area high-value of in revenues. platform, the to management Revenues to only East authorities like like We've Jamf's for users. countries properties incident Jamf it with purchasing rate Jamf's Pro similar Kingdom Apple. management ability in review and which Group, was time. and leverage In wins Clarion The attacks security able government the XXXX Jamf and These international footprint in Executive the in across in And with Jamf. teams became India will the a and with deliver growing extend Jamf's this be to help beyond lastly, by along for Protection,

Ian Goodkind

XX%, Thanks, year-over-year exceeding Total of of end high the of XX%, We ended revenue exceeding growth John. by $X.X reached growth our QX expectations. million, ARR $XXX.X outlook representing revenue million. with year-over-year

and to strategic both growth of continue security on-premise like and business, experience specifically slightly Jamf's commercial revenue key The remained now SaaS Jamf's sources growing core Less future. in recurring that expected. in better licenses, continue year-over-year business QX the XX%. revenues will to than declines strong a We and believe driver, but strategic came be in commercial services revenue

XXXX. to compared remainder on slightly The to XXX% Our margins, profitability net retention will QX on items expected non-GAAP in be basis. as QX decreased a expense when of rate my remarks and

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

low to anticipate at We each margin $XX.X exceeded expect gross and QX over outlook due high to the XX% margin continue an -- cost-saving revenues, quarter. cash basis free prior margins Non-GAAP representing fluctuations slight operating was XX% initiatives XX% in the increased million our unlevered our in end X,XXX compared XX% trailing improvement approximate flow and or We the XXXX. income to QX range of point year. XX-month

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

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

respect key Day, an XX%, non-GAAP basis XX%, ARR a of and QX basis from XX%; progress we high -- was percentage marketing our our XXX was expense outlook. point and financial help total XXX and operating meet security exceeded you against marketing administrative three, expense, portion margin point marketing the our QX the of income revenue. and both revenue. was we During that from sales decreased and XX% coming Investor this reduction approximate four, ARR, of in expense growth goals, total ranges.Two, a to least cost outlined G&A our XXXX. sales non-GAAP an track decreased In achieve milestones approximate as of largest our area, one, QX as that With will QX growth non-GAAP additional efficiency sales revenue at providing end quarterly and scalability we given reduction savings percentage XXXX. are anticipate year-over-year margin current from Security we QX on of general details some guidance initiatives. QX,

workforce a on focus earlier with productivity. higher First, this year, adjusted we our

structure incentive drive cross-sell sales and security our adjusting mobile capture. we're Second, price and to further

Third, with we on continue like we our are to provide the our value Asia to Fourth, from we aligning And trusted access educating are value outcome. enhanced resources we potential enacting highest program the the drive to geographies partners. channel customers on Pacific with region. fifth, focus growth

upsell expect Now our to growth, full With pressure on outlook through year QX XXXX. turning for revenue continued and we XXXX. respect device to

on as on the drivers continue will in achieved We focus growth to the strategic successes we John outlined, QX. building

growth scalability and scalable office We a with on and will organization, go-to-market in invest focus platform back optimization automation.

operating Non-GAAP year-over-year revenue margin at of the income profitable years. XXXX, the the XX%. others as Our income operating the to Based midpoint. non-GAAP to to scalability initiatives next for will second future $XX.X Jamf to set on $XX.X factors, of process quarter XX% Jamf a up time Investor return million, of expected total million these XX benefits expect in throughout million, XXXX in of are we some with initiatives our of outlined $XXX.X with growth Many these representing the and few in Rule representing of for $XXX.X at million XX% and Day. growth of benefits

XXXX. for full million Given are year-over-year QX, our margin of income the improvement of to reflects of point the million, increase in This and Non-GAAP year $X at midpoint. This million an non-GAAP approximate midpoint. revenue growth $XX.X fiscal strong of midpoint XXX an increasing basis performance a expectations the Total an XX% we XX% to $X.X the million representing of operating operating increase million $XX.X at our income reflects XXXX. midpoint. million, of $XXX.X the at at $XXX.X over representing year

similar to flows XXXX, growth for year XXXX provide would expect income respect similar ARR, With operating to free growth. don't margin we expect year free fiscal revenue year flow full an end unlevered be cash to non-GAAP outlook for ARR with cash full we While unlevered margin. we to to

event. outlined we the part earnings longer-term goals I of also now Investor compensation-related presentation metrics website. during for our of the taxes your in Relations questions. to the With as outlook presented with Operator? the John to as committed and remain stock-based Investor and respect estimates We our we to amortization, also provide And financial posted payroll will we webcast part modeling other the on take Day, assist and

Operator

Thank & of the Reilly Needham you. from comes And question line Joshua [Operator Instructions] Company. first of your

Joshua Reilly

is guess Nice puts laid Analyst the in any the and probably out or job pricing point give on going expectations? has you of XX% little to a terms are the here the be how just year there people up some ARR is what quarter takes here. like the talk in you starting QX with exiting and of are in for year? ARR Can of sounds the And Day. a what the I macro the bit benefit change what relative expected in it's been much kind it interested closer the here your of of growth, really better growth bit a was a rest growth the sense of in than us to to at ARR we

Ian Goodkind

Yes.

So Josh, I'll ] in the there. hear you from to end. [ at good you jump

QX you're outlined right, there, the Day. how question. February QX. We in and didn't see have out appreciate January come and and a a did way our workforce, to competitor, is normalized generally quarter, our overhang. we but be specific asked we came within deals we from I assign reduction that to from strong We bit continues pull first March. And continues little education in in we we muted that. the tech forward after of a macro, and off So you [indiscernible] have but churn did some and first more And COVID the the seasonally Investor did ARR at expected what low, from your QX. did,

throughout bright year. some do have double-digit into the additional as some improvement We've from year, retail. services, a financial professional it prior industries higher the they march those see actually productivity wholesale And spots. forward So QX, and saw it. strength In non-leaning the we rep leaning been services, more [ call ] we in seen and we

We a was plans, saw with, as levels year-over-year. of historically, also saw then bundles the And upsell incentive We to we've continue continuing which little continuing new strong. bit green which within tweak pipeline We not our but build of be that in our some [ security commercial to It well our seen an we've shoots local well. XX% seen that represent we on a also forward see good. deals, pipeline few we've to to is the a the we're space. we've boding what saw And is our been start XX%, seen EDU ]. just

So as we based XXXX. the in our was on outlook XXXX reminder, saw a same economics

]. and things overachieve we've feel this [ us [ help about So bode any ] on And well guidance XXXX. could what we good said

Joshua Reilly

super That's following And just then segment market. on it. the the helpful. Got up of SMB

seeing know you mix areas. to of these these the peers a from world your impact seeing of smaller [ rate of that's interest ] relative other SMB well? challenges in SaaS customers But customers. other the some are to for Some have I business beginning some as longer been dynamics higher

John Strosahl

more talking see with mine some the seen canary is the them these SMB typically of to and to market, that Ian guys both of And follows. those enterprise we've consistent was very seen higher, And as from see about remained But we the interest SMB also bundle particularly. of out when can affect starting Josh, companies which cycles John. more sales rates. a our purchase And of And XX% interest, volume We business. we're coal -- elongated, our and good get bit than we year-over-year. longer-than-expected pretty it's generally sales interesting, the but I business new we in being over of answer longer we've the result see to the that mentioned, interest the continue businesses. we logo a interest although And just still start can question. we've sales, but SMB enterprise. this some fall goes feel more and rates this smaller I do had about year-over-year to growth, a some have are some I typically to a

Operator

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

Koji Ikeda

specifically a Lots the of question on growth and accelerating about at and you I in which prepared XXXX remarks. revenue ask Investor good growth, the how is guys the and about just to to laid you the is wanted ARR commentary X-year XXXX. feeling you're that accelerating the out model in very growth Day,

that lot setup very, attractive. Of some XQ, growth [ in the decel ]. But of I them of metrics course, when very look a is at

that was X-year you increasing so there maybe that growth Maybe end quarter this that's So wondering committed cost. conference what you're to from I to increased giving seeing was something your those targets? is your be

Ian Goodkind

remember, factoring kind at your point. a going have what we're it We we it return, a [ XX% huge that. start overachieved and about short XX.X% on believe Koji, the that's a fact our ]. showed of to And knew comp ] making a come lot where adjustments looks do Yes. -- some some NRR conviction that it I'll think over with and we the I'll and items of macro first we've And X-year on and adjustment, plans an the we slower talked that's I jump in. growth that focused is and expand workforce in now rate we steps a Investor this we what Day, have we on bit revenues, we've little are year, yes, a just laid that taking to if one. out standpoint we the answer the we were I it in we you what it. forward historically laid answer, would of still some be out knew also from manner like of on model. knew going again, doesn't We We the knew, from [ still a

we're again, little that you something And bit And is that And our our customers. and at pipeline, build. continue interest. certain that. I there's customers to we to with on and add collaboration and talked are So a for bundles [ bundles, Jamf just with security starting I tools look Jamf customer about that our Teams certain know, the a value of when a thing then lot lot you should We have workflows continues having find see interest and about And issues. only integrates it it does And for just ]. Teams help there. bundle, within to of released with automates one

we're are also types of X I'd So from those in focused -- the things you this, a to last talked And just were how have about -- plan can you met we expect. see this from clear We've a prepared sales Investor on we I we so our the on Day year. far through areas those we my checklist comment things of remarks, on things. And outlined perspective. and the make check we've marketing that going

conviction have all yes, that plan. we together, when those take you things around So

Joshua Reilly

did maybe came Ian. [ sir. and for here, a punched remaining you, it the that the obligations. little sequentially. into Got just spreadsheet on I And And I noticed it, out, ] Q the follow-up declined RPO notice I front, performance our

that first quarter, the tick. last a And year notice it happened I in Just too. did

dynamics quarter understand. understand in to Just wanted we the in the need that about RPO of to anything particular first

Ian Goodkind

question. Yes. Good

quarter. first every actually and our seasonality. quarters, RPO on back if you go It's first our historically quarter, slowest all it's on So always actually

are is QX quarter. QX commercial then and and supported heavier business. QX reminder, business. our And education a our as QX QX just by slowest so And are

good As talked forward. had some I pulled pretty we QX, about, which a deals

is wouldn't into is So any read we further than that. along. It I expected. what It that generally

Operator

line of from Your Lenschow Raimo next comes question of Barclays. the

Unknown Analyst

again through about you year? Security you you go know net versus guided? Day. guys upside on Analyst [ should pretty the And see strong new ], How at there how to I quarter. what of came for do to think that Raimo. guided the XX% remainder we is Isaac ARR ARR the the as This shape And in of this initially much number we

Ian Goodkind

there. in jump can I

our you things. I we XX% of to So was in a year couple throughout mean the monitor achieve showed We QX, that we we XX% going the now. show that. Analyst slide had things at XX% said Yes, to for were here's there Day on What growth saying above least our success. should

us. And bode it comes for security, So there's continues are very mobile. And we of that has And commercial the to Investor then we That forms. education cross-sell. form Day, comes security in about as in focused well been talked and at mobile on X good.

security. mean, our Just on we way And opportunity more the on talking both your on platform, It when the about management really consolidate cross-sell, about one of more customers about ask thinking you seeing helper just -- a we're incentive are the see good and I focuses plan security. our focuses and some that. has can that become security.

we've through. are economy and there's this we of those get we sideline things So a once that's been this those accelerate buyer, are for and while -- that enterprises, with when just, has we on see in those boding could couple here. a that changes, one nervous I since been make come And if can working consolidate. side, well. And boding bit think the been sitting to well but us. SMB successful And the economic seeing we again, in in are buyers And those more little I think a just you be of got

well can John, path. could continue the are bode I this else? help and things think us anything those for along us So

John Strosahl

on prevalent And you and and well. we're look I'll security at wholesale successful that more the in industries, enterprise particularly seeing be that side. the markets Yes, the those mobile when the we a iOS as security on become the side, more seen add and on have more lot retail side just as [indiscernible] workflows

getting double good and there, traction down continuing we're really -- some on So it. we're we're seeing to

trusted said, cross-sell opportunity, our promote teams really taken to really and our to. with have As our kindly customers incentivizing Ian really access sales lead that which

Ian Goodkind

was One extra deals security -- we a in thing education talked see about piece. few quarter, actually the I education Yes. in did other too. We the first

shoots well. success some seen [indiscernible] have green we there as So

Unknown Analyst

more consistent. need seems QX QX QX incrementally one to ahead. expectations that full there not you. that about stayed about also Great. the and on That's slightly for remainder year the in If guide and of of in ahead up think super the the came then anything margin moving it margin maybe through helpful. guidance, Is is we margin QX like Ian, guide I think reasons year? maybe And But for

Ian Goodkind

Yes.

talking overachievement more slightly margin dollars, up was. you're our actually the so percentage than in quarter the did versus go consistent right? think I what about And with the dollars the and first

and pass actually did it up. So brought we that we through,

think [ ] are XX%. is I to what asking getting tables you're close

Your scalability. spending guide invest growth side. XX% about are in to I at listed couple prepared to the for today What X my still things. And in Day And would throughout a year. going of initiatives Investor year. is about what remarks think is I things. talked that around on, the those we there we're continuing continue We're the and on go-to-market the

also where back optimize we're focused have we still automation. on We the platform, platform are capabilities continuing and our office to

initiatives more spending adjust wouldn't the those for I scalable. make us that long-term So

Operator

of Your Capital Dan Bergstrom RBC comes next line question of from the Markets.

Dan Bergstrom

conversations and guess anything the following of the It's It's you gains they couple a to so... to guess I remain hiring customers there observations PC of for years nice around I Dan from are declines any Bergstrom or around for expense see prudent Apple. additional shipments have growth and Matt here? Hedberg. return fresh otherwise with

John Strosahl

can is the this question. Dan, I Yes, take John.

some elongated. sales the we team the I of we still cycle. more engagement, in uncertainty some market and seen of interest although said as before, caused well, sales more remained a elongated that. have Like I customer refresh seen our with discussions the have mean, have ancillary cycles bit Just and some has

it on a that had while been an came about that bodes shipments. basis, in out, on identified Wall row Gartner article that we base. the over that us, was have IDC in impact Street And growth had well certainly quarter-by-quarter and Apple's We both but also for track XX%, a don't a quarters several year-over-year XX.X% noted Journal that installed

right. assumption your so And is

a a in seeing We as well refresh But cycles, in of the that loosen are as have elongated seen enterprise bit. education. bit both some we of

Dan Bergstrom

security security year ago? incentives, to start cross-sell. sales on the go-to-market, is It around or here I in security the force on year? here from Maybe Q&A versus, color appreciate some the more guess where there have additional anything here. any say, security the around leaning I far sounds And on a focused adjustments you're so and color a like been perspective more into the

John Strosahl

force, Yes. Remember, go sizable security, that. Well, we we become the have force our did had extending much us decent security sales and sales to customers our to the sales first together teams traction able necessarily then actually offering. don't and security getting, dime, identify product. opportunity and then And really manage the versed and a that things the and and better lead being management security in pretty have a asked being we that pretty our trusted on that they but we're the really they're access they them device remediate management ahead when turn and those seeing especially with to through

access hires is trusted taken security versed well sales having also so team leading And the with the and we've those space. gaining traction. And from more recent sales -- better

to So of we're to have to the -- cross-pollinate and they on sure sales the wealth and we QX did has teams. and we retaining adjusted year. the our that really customers don't needed QX that QX. we of that cross-sell. the rest year in is all focus an when into that of in We the environment were make we the making in do in that the end of PC And bring continuing knowledge that -- shipments we're focus plan ARR compensation towards that through We're know really will customers those that, return. helped [ of and We that the other compensation. to we company adjust early ] process more sure And saw a what that the the on that

had I that And also about so we lot direct green And that Ian a our talked think made. those security a of of of also some changes when shoots. is pipeline, that some result

Operator

the line Jake William Roberge of from comes of question Blair. next The

Jacob Roberge

Congrats on the great results.

-- subsequent that control? I'm if incremental started opportunities a be of divestiture from or customers that frustrated Just the and see the this there's you've Now building any then quarter change get now Have from acquisition opportunities you ONE. that's presented or curious pipeline might that those of Workspace X curious to any deals had from following incremental year?

John Strosahl

have. issue all Absolutely, They cycles. this not of of is financial that Jake. the in We all we're said through that have deals to John question. acquisition sponsor, of I'll And a take with come to this This one expect certainly went because renewal again. the we've quarter. those is and competitor expecting, we before, don't

of a those at We've with engaged customers tens that. up of to pretty lowest kind And and cycle the devices every that of is promoting that at cross-platform. directed that our quarter thousands competitors a experience had with renewal innovate so And advantage and is that pace And much have pipeline here with of that, Apple especially of And healthy coming denominator. all we pretty replaced -- you and our common difficulty in then we're lot of when those when competitor. some the they're down our have user the dilute we products.

And really -- so of salespeople that's really that at that perception you ownership and we've pace is of that have top put on not heavily. structure, the something we've having taken the given Apple, where advantage and you top innovating leaned of our the of into that excelled then

Jacob Roberge

Okay. XX% the Very obviously, great then, helpful. see ARR to security growth. And

that XXXX the that solid you're year? tweaks week, year could and product RSA some curious there. I'm throughout the areas comments had maybe But opportunities and this go-to-market be on upsell looking dig call then there throughout time XXXX this making You've frame about to the side any given really digging into you're the into really more and are on if pipeline you're deeper that the

John Strosahl

The a with companies, be all products opportunity front we're and We well. talent we Apple-best. certainly acquisitive ] and we tech that as are particularly at into us we've that very other in [ the lot we security in there's the of leading And that's continue security customers. following the and Apple-first looking security And that's what functionality aspects, place security of in of to into areas in went is know got have. to But customers, our to enhance the also adding listening our to customers set security in seeing products. because we're our first and ask reason we'll us products. feature our continue we're lead from to that we those we're their that do But do, something side that are to and of

make might -- really has you're it person so Threat speaking high to well I kind the prepared a to in in organization one other a of Executive same of I Protect Jamf in mentioned mention, the ], can Jamf parts targets, other the CISO about high-value [ that effect when very talking Connect, the becomes Jamf done decisions remarks The the Protection, halo level it's securing on really, that that in connectivity the and is you're and that organization.

And Jamf value so an the Threat done security we've once and Protection, opportunity they other we to discuss of see over again. Executive and products, have that over

So those seeing nice shoots. green -- again, some we're there

Operator

Mizuho. comes question next from from Your the of Vinod Srinivasaraghavan line

Vinod Srinivasaraghavan

is saw cells the year? give much a was into little versus to bit. than different of just you of last Can us this what churn I mix And dig in you down versus QX quarter? upsells this NRR sense wanted what a

Ian Goodkind

Yes. Thanks the for question.

from decline XXX%. did to it So XXX%

at related QX, upsell. to I when to of And look decline QX that so XX% about

related effects saw when did ]. trailing the -- QX, relate continues saw. XX-month sorry, what related again, a because down related metric in the this But XX% relate we was to extra In actually impact better March decline, XX% macro to when that back and it other then just asked customer churn at than [indiscernible] So QX upsell, January February indiscernible last XX% that to did X% continue to to point same and And the [indiscernible]. year, -- expected. to spending look to and that that. comparison came That and you QX sell we I we quarter, of [ or that

months trailing go excited our our about our and XX go, some in impact. there's competitors we're our big things seeing second and in seen we've really come quarter. in [indiscernible] the an And So pipeline and but time being, we're that them of

Vinod Srinivasaraghavan

quarter? business And That's then your just this for you Great. Okay. now momentum been seeing out plan do while helpful. that's general, a just are And how now? more in did as

Ian Goodkind

got plans, We year-over-year XX% includes plan. in a the our business enterprise which Yes. growth was

know see work things and perspective, Routines that earlier. been together, tools. for. I helps continues It it then related just announced just is a have we that's -- a Routines it not to benefits be you bit They little we security help So really management business we workflows something had the our mention when all announced successful. just been Routines together. And they things just That's to customers or did going and that interesting our asking has is something And plan. in different combine from compliance. a cost And with release piece the -- and spring something to also collaborative is automate but available

about because is see health management actually if lot well, on churn standpoint customer collaboration a we improve both really and And tells example, a excited actually this to need that. stronger. you it using so customers So see through customers there, device that see those the we're workflow again, security, have and and that for a automated success from an has you reset, we -- for tool you when of whatever you're our

Operator

turn I There are now no the remarks. conference further will back questions to line Jennifer the from closing time. over the at this for

Jennifer Gaumond

of rest Thank you Have Thank This us is day. all today. for end the good you. of call. your a joining the

Operator

you. conference all Thank today's That joining. call. concludes for you Thank

You may now disconnect.

Jamf Holding (JAMF) 8 May 242024 Q1 Earnings call transcript