Jamf Holding Corp. Stock Price, News & Analysis

Jamf Holding Corp. (NASDAQ: JAMF) announced a public follow-on offering of 10,000,000 shares of common stock by selling shareholders, with an option for underwriters to purchase an additional 1,500,000 shares. Jamf will not receive any proceeds from this sale, as it involves only existing shares. The registration statement is filed with the SEC but is not yet effective. The offering is managed by Goldman Sachs, J.P. Morgan, BofA Securities, and Barclays. Forward-looking statements highlight operational risks, including impacts from COVID-19 and reliance on Apple products.

Jamf (NASDAQ: JAMF) reported a strong third quarter for 2020, with total revenue increasing by 29% year-over-year to $70.4 million. Recurring revenue saw a remarkable growth of 40%, reaching $65.8 million, while Annual Recurring Revenue (ARR) grew by 37% to $261.5 million. Despite a GAAP operating loss of $376 thousand, cash flow from operations improved to $23.6 million. The company also broadened its educational offerings and increased its user base significantly.

Jamf (NASDAQ: JAMF) announced its readiness to support the new macOS Big Sur, ensuring seamless integration for customers upgrading to the update. Extensive testing confirms that Jamf solutions will function without disrupting user experience or organizational security. Notable enhancements include user provisioning features, scalable enterprise workflows, and enhanced institutional security. The company also highlighted advancements for distance learning, with tools like the new Jamf Teacher app for managing student devices.

Jamf (NASDAQ: JAMF) announced it will release its third quarter 2020 financial results on November 12, 2020, after market close. A conference call and webcast will follow at 3:30 p.m. CT to discuss the results. Interested parties can access the live call at (833) 519-1319 or via webcast on the Jamf Investor Relations page. An archived version will be available post-call. Jamf specializes in Apple Enterprise Management, supporting businesses and organizations with its software and community.

Jamf has reported significant insights from a recent survey conducted with Vanson Bourne, involving 1500 IT and security professionals regarding Mac device usage and security challenges. Notably, 74% of Mac-dominant organizations plan to increase their Mac count, while 65% of non-Mac users intend to adopt more Macs. Despite high satisfaction, organizations are concerned about security incidents, with 96% prioritizing future spending on security software. Key cybersecurity challenges include unknown threats, data loss, and malware.

Jamf (NASDAQ:JAMF) announced its readiness for compatibility and key feature support for Apple's iOS 14, iPadOS 14, and tvOS 14, available from September 16, 2020. The company emphasizes same-day support for all Apple releases, enhancing enterprise workflows, security, and distance learning. Key features include streamlined device setup, user-level configuration for Shared iPads, and improved privacy controls for IT teams. Jamf Teacher is now integrated with Jamf Pro for better management of student devices, facilitating distance learning.

Jamf announced an extension of its collaboration with Microsoft, launching iOS Device Compliance, currently in closed preview. This feature allows organizations to manage iOS devices while sharing compliance status with Microsoft Endpoint Manager, enhancing security for remote workforces. IT teams can now ensure that only trusted users with compliant devices access corporate data through Conditional Access powered by Azure Active Directory. This expanded capability builds on previous collaborations for macOS, enhancing device management across Apple devices.

Jamf reported a 29% increase in total revenue for Q2 2020, reaching $62.2 million. The company also saw a 42% rise in recurring revenue to $58.7 million and a 36% growth in ARR, amounting to $241 million. Notably, Jamf achieved a GAAP operating income of $4.2 million, reversing last year's loss. Cash flow from operations was $16.8 million, a significant improvement. Looking ahead, Jamf anticipates Q3 revenue between $65 million and $66 million and full-year revenue of $255 million to $257 million.

Jamf Holding Corp. announced the closing of its initial public offering (IPO) on July 24, 2020. The offering consisted of 20,700,000 shares priced at $26.00 per share, with Jamf offering 13,500,000 shares and the remaining 7,200,000 shares from selling shareholders, which included an additional 2,700,000 shares due to underwriter options. Jamf will not receive proceeds from the selling shareholders. The company's stock started trading on Nasdaq under the ticker symbol “JAMF” on July 22, 2020.