Jamf kicks off 2024 with unique market proposition as the only security and management platform for the Apple ecosystem

Rhea-AI Summary

Jamf (NASDAQ: JAMF) continues to lead the market by offering modern management and comprehensive security for Apple's technology, with significant customer base and recognition among leading technology analyst firms. The company made strides in maturing its security offering, with 23% of customers running both management and security solutions. Jamf's global customer base includes major Fortune 500 companies, valuable brands, top U.S. banks, global universities, and technology companies. The CEO emphasized the importance of offering a solution trusted by InfoSec teams without compromising end-user experience. Key product enhancements and recognitions in endpoint security and device management were rolled out in 2023, along with integrations with leading companies like Google and Microsoft. The company also expanded its commitment to empowering employees, customers, and communities, with a focus on diversity, equity, and inclusion, as well as environmental, social, and governance initiatives.

Market Research Analyst

When evaluating Jamf's market position, it's notable that they claim to be the only vendor to combine modern management with comprehensive security on a platform tailored for Apple's technology. This unique selling proposition could potentially attract organizations looking to streamline their toolsets, which may result in cost savings and efficiency gains. The consolidation of up to 18 different tools into a single solution can be a significant market differentiator, potentially increasing Jamf's competitive advantage and customer loyalty.

The reported increase in customers utilizing both management and security solutions from Jamf indicates a successful cross-selling strategy, enhancing average revenue per user (ARPU). The fact that security accounts for 21% of the total annual recurring revenue (ARR) suggests a growing market demand for cybersecurity solutions, likely reflecting broader industry trends towards heightened security awareness.

Their clientele, including top Fortune 500 companies, valuable brands and large banks, underscores their market penetration and reputation. This level of adoption by leading institutions can serve as a strong endorsement to prospective clients and investors, potentially leading to stock price stability or growth.

Cybersecurity Expert

Jamf's strides in security, particularly the introduction of Jamf Executive Threat Protection and the expansion of Jamf Protect, highlight the company's commitment to addressing advanced cybersecurity threats. The focus on sophisticated attacks, such as those from the Pegasus spyware, indicates Jamf's responsiveness to high-profile security challenges. This is particularly relevant given the increasing prevalence of targeted attacks against mobile devices and Macs, which have traditionally been viewed as less vulnerable.

The integration with Google's Chronicle and Microsoft Sentinel, as well as the participation in the Microsoft Security Copilot Partner Private Preview, demonstrates a strategic move towards leveraging AI and threat intelligence. These efforts can enhance Jamf's value proposition by offering more robust security solutions, which may translate into increased market share and ARR growth in the cybersecurity segment.

Educational Technology Specialist

Jamf's expansion of its educational technology offerings with Jamf Safe Internet reflects a strategic investment in the growing EdTech market. The solution's compatibility across multiple operating systems makes it accessible to a wider student population, addressing the diverse technology landscape within educational institutions. Additionally, the compliance with StateRamp certifications indicates Jamf's understanding of the regulatory requirements in the education sector, which can be a critical factor for schools when selecting technology partners.

The MATTER Innovation Hub program's expansion is a social impact initiative that aligns with corporate social responsibility trends. While it may not directly impact financials, it enhances the company's brand image and could indirectly contribute to customer acquisition and retention, particularly in the education sector, where social impact is highly valued.

MINNEAPOLIS, Jan. 17, 2024 (GLOBE NEWSWIRE) -- Jamf (NASDAQ: JAMF) begins 2024 holding a market-leading position as the only vendor to deliver modern management and comprehensive security in the same powerful platform that is built for Apple’s unique technology. Organizations turning to Jamf are able to save money and resources by consolidating up to 18 different tools and disparate workflows, including six device management, three identity and access management (IAM), and nine endpoint security tools. Over the past 12 months, Jamf made significant strides in maturing its security offering. As of September 30, 2023, 23% of Jamf customers are running both a Jamf management and a Jamf security solution, and ARR from security accounts for 21% of Jamf’s total ARR. 

Jamf‘s global customer base as of September 30, 2023 includes:

• 9 of the 10 largest companies, as ranked by Fortune 500
• 22 of the 25 most valuable brands, according to Forbes
• 14 of the 15 largest U.S. banks, according to Bankrate.com
• 15 of the top 15 global universities, according to U.S. News & World Report
• 7 of the top 10 technology companies, as ranked by Fortune
  

“Security is increasingly viewed as an organization-wide responsibility rather than just an InfoSec function. That’s why we place great importance in offering a solution that is not only trusted by InfoSec teams, but doesn’t negatively impact the technology that is loved by end users,” said John Strosahl, CEO of Jamf. “In today’s rapidly evolving work environment and challenging economic conditions, businesses want to consolidate and simplify with a modern approach to device management that integrates security to close gaps and doesn’t compromise end-user experience.”

In 2023, Jamf rolled out key product enhancements that span device management, endpoint security, Zero Trust Network Access (ZNTA) and Single Sign-On (SSO). These recent enhancements have earned Jamf recognition among leading technology analyst firms. Jamf was recently recognized as a 'Leader' in Endpoint Security by analyst firm Frost & Sullivan and profiled in the Omdia Universe on Digital Workspace Management / Unified Endpoint Management Platforms, 2024. 

Jamf made further enhancements to its flagship device management solution, Jamf Pro
Jamf’s product roadmap remains in lockstep with Apple’s new management features released for the enterprise. Along with a refreshed UI, the release of Jamf Pro 11 brought with it support for Apple’s Declarative Device Management, including new software update management workflows. This allows admins in Jamf Cloud to schedule and enforce the latest software updates on managed devices by a specific date and time automatically. Jamf Pro 11 also brought support for Apple’s enhanced enrollment workflows with Account Driven Device Enrollment for macOS Sonoma and iOS 17, enabling users to easily enroll their institutionally owned devices with the same easy and secure workflow as Account Driven User Enrollment for personally owned devices.

Jamf Pro 11 also introduced Jamf Remote Assist allowing admins to initiate a secure, remote desktop session directly in the Jamf Pro UI, even when the user is not on the internal network, making it easy to securely and remotely manage devices within their fleet.

Jamf’s endpoint security offering leveled up protection for Mac and mobile
In 2023, Jamf introduced JamfExecutive Threat Protection, an advanced detection and response tool designed for mobile devices to address sophisticated and highly targeted attacks, such as Pegasus. The solution is designed for government agencies, journalists and other high-value users. 

Jamf Protect was expanded to include network-based threat defense capabilities to ensure full protection against malware and user-initiated risk, such as clicking on phishing links. Jamf Protect also gained a new compliance dashboard, allowing admins to see the overall compliance status of their environment at a glance, as well as vulnerability management so admins can easily see which devices are impacted by known vulnerabilities.

Jamf announced new integrations with Google’s Chronicle and Microsoft Sentinel, which aggregates Jamf’s device telemetry in these SIEM platform providing a unified view of security events across all endpoints to improve security operations. Jamf is also now a proud participant of the Microsoft Security Copilot Partner Private Preview for the integration of AI and threat intelligence.

Jamf Threat Labs continues to uncover novel attack vectors impacting the Apple ecosystem including a new Mac malware variant attributed to the BlueNoroff APT group and a post-exploit mobile tampering technique that imitates Lockdown Mode on iOS.

Jamf made Zero Trust Network Access more achievable
Jamf Connect’s IAM capabilities were expanded over the last year to include ZTNA, providing least-privilege and high-performance connectivity to cloud and on-premises data resources from macOS, iOS, iPadOS, Android and Windows devices. This turn-key ZTNA solution leverages next-generation networking technology that enables remote access from anywhere, while eliminating all of the friction and frustration associated with traditional VPN. 

To ensure a secure connection is maintained, Jamf’s context-aware access policies dynamically react the minute a risk is detected, stopping access to sensitive resources by shutting down the user’s secure connection. Jamf also introduced a new enhancement that allows organizations to detect if a user ever disables their own secure connection and immediately suspends their access. 

Jamf integrates seamlessly with leading access solutions so admins can create context-aware access policies that incorporate Jamf compliance signals. In 2023, Jamf announced new integrations with Microsoft Device Compliance, Google BeyondCorp, and AWS Verified Access that provide joint customers with powerful and granular access controls to company resources.

In 2023, Jamf introduced support for Enrollment SSO and was first-to-market with support for Platform SSO with Okta, to deliver a next generation single sign-on experience across Mac and mobile devices. Jamf is ready support these features with any other identity provider that also supports them. 

Empowering dynamic learning while keeping students safe and schools compliant
Jamf Safe Internet, a comprehensive content filtering and web security solution optimized for education, is now available on MacOS, iOS, iPadOS, Windows PCs and Chromebook, making safe learning accessible to even more students. Jamf Safe Internet is designed to help schools protect students from harmful content on the internet, inappropriate websites and phishing attacks, while also allowing admins to enforce acceptable-use policies in a seamless way. To ensure greater privacy for students, Jamf added optional on-device web content filtering for iOS and iPadOS to Jamf Safe Internet.

In the US, 21 states are now requiring StateRamp certifications for products utilized by their K12 school districts. To give education customers the confidence they need to comply with industry standards, Jamf announced it is now delivering StateRamp Ready instances of Jamf School and Jamf Pro in the United States.

Jamf continued its long-standing commitment to empowering its employees, customers and the communities it operates in
Jamf has had several major announcements and initiatives highlighting its continued growth and positive social impact in 2023. Jamf was recently recognized by Fortune and Great Place to Work as one of the 2023 Best Workplaces for Women, underscoring its commitment to diversity, equity and inclusion. Additionally, Jamf was listed as one of the top technology companies to work for by US News.

Jamf also formally signed the CEO Action for Diversity & Inclusion pledge, outlining specific steps it will take to cultivate a diverse, equitable and inclusive culture within the company and its business partnerships. This represents an important, public commitment to driving meaningful progress on DEI issues across industries.

Finally, Jamf published its inaugural 2023 Purpose and Impact Report, detailing its commitments and progress to date around environmental, social and governance (ESG) initiatives. This includes empowering employees, customers and communities, as well as taking steps to reduce environmental impact. Specific highlights include achieving 90% voluntary employee retention, contributing over $1.1 million in donations and 20,000 volunteer hours, and offsetting over 7,000 metric tons of carbon emissions. Jamf also announced the expansion of its MATTER Innovation Hub program–with three new Hubs opened in 2023–designed to deliver state-of-the-art solar-powered Apple classrooms to under-resourced locations across the world. Jamf and MATTER have now opened a total to 17 MATTER Innovation Hubs that are currently impacting the lives of over 5,000 students.

About Jamf
Jamf’s purpose is to simplify work by helping organizations manage and secure an Apple experience that end users love and organizations trust. Jamf is the only company in the world that provides a complete management and security solution for an Apple-first environment that is enterprise secure, consumer simple and protects personal privacy. To learn more, visit www.jamf.com.

Media Contact:
Liarna La Porta | media@jamf.com

Investor Contact:
Jennifer Gaumond | ir@jamf.com

FAQ

What is the ticker symbol for Jamf?

The ticker symbol for Jamf is JAMF.

What percentage of Jamf customers are running both management and security solutions?

As of September 30, 2023, 23% of Jamf customers are running both a Jamf management and a Jamf security solution.

What percentage of Jamf's total ARR does security account for?

ARR from security accounts for 21% of Jamf’s total ARR.

What recognition did Jamf receive in 2023 in terms of endpoint security?

Jamf was recognized as a 'Leader' in Endpoint Security by analyst firm Frost & Sullivan and profiled in the Omdia Universe on Digital Workspace Management / Unified Endpoint Management Platforms, 2024.

What major companies and organizations are part of Jamf's global customer base?

Jamf’s global customer base includes 9 of the 10 largest companies as ranked by Fortune 500, 22 of the 25 most valuable brands according to Forbes, 14 of the 15 largest U.S. banks according to Bankrate.com, 15 of the top 15 global universities according to U.S. News & World Report, and 7 of the top 10 technology companies as ranked by Fortune.

What key product enhancements were rolled out by Jamf in 2023?

In 2023, Jamf rolled out key product enhancements that spanned device management, endpoint security, Zero Trust Network Access (ZNTA) and Single Sign-On (SSO).

What are some of the integrations announced by Jamf in 2023?

Jamf announced new integrations with Google’s Chronicle and Microsoft Sentinel, which aggregates Jamf’s device telemetry in these SIEM platforms providing a unified view of security events across all endpoints to improve security operations.

What is the CEO's stance on the importance of security in organizations?

The CEO emphasized the importance of offering a solution that is not only trusted by InfoSec teams but doesn’t negatively impact the technology that is loved by end users.

What initiatives did Jamf expand in 2023 to empower employees, customers, and communities?

Jamf expanded its MATTER Innovation Hub program–with three new Hubs opened in 2023–designed to deliver state-of-the-art solar-powered Apple classrooms to under-resourced locations across the world. Jamf and MATTER have now opened a total to 17 MATTER Innovation Hubs that are currently impacting the lives of over 5,000 students.