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EX - 99.1 2 jamf - 06302021x8kxexhibit991.htm EX - 99.1 jamf MINNEAPOLIS , MN – August 10 , 2021 – Jamf ( NASDAQ : JAMF ) , the standard in Apple Enterprise Management , today announced preliminary financial results for its second quarter ended June 30 , 2021 . Second Quarter 2021 Financial Highlights Jamf expects to report the following financial results : ARR : ARR increase of 38 % year - over - year to $ 333.0 million as of June 30 , 2021 . Revenue : Total revenue of $ 86.2 million , an increase of approximately 39 % year - over - year . Exhibit 99.1 Jamf Announces Preliminary Second Quarter 2021 Financial Results Q2 total revenue of $ 86.2 million , representing year - over - year growth of approximately 39 % ARR year - over - year growth of 38 % to $ 333.0 million as of June 30 , 2021 Q2 cash flow provided by operations of $ 34.0 million ; Unlevered free cash flow of $ 33.1 million , or 38 % of total revenue Gross Profit : GAAP gross profit of $ 66.9 million , or approximately 78 % of total revenue , compared to $ 48.6 million in the second quarter of 2020. Non - GAAP Gross Profit was $ 70.2 million , or approximately 81 % of total revenue , compared to $ 51.4 million in the second quarter of 2020 . In addition , Jamf intends to revise prior period financial statements in subsequent filings to correct an immaterial error related to certain commissions that were incorrectly capitalized and will report final second quarter results as soon as practicable . The immaterial error has no impact on key business metrics . ● Operating Loss / Income : GAAP operating loss of $ 16.1 million , compared to GAAP operating income of $ 3.7 million in the second quarter of 2020. Non - GAAP Operating Income of $ 7.7 million , or approximately 9 % of total revenue , compared to $ 10.8 million in the second quarter of 2020 . Cash Flow : Cash flow provided by operations of $ 34.0 million , compared to $ 16.8 million in the second quarter of 2020. Unlevered free cash flow of $ 33.1 million , or approximately 38 % of total revenue , compared to $ 21.0 million , or approximately 34 % of total revenue in the second quarter of 2020 . A preliminary reconciliation between historical GAAP and non - GAAP information is contained in the tables below and the section titled " Non - GAAP Financial Measures " below contains descriptions of these reconciliations . ● " Our strong preliminary results demonstrate balanced growth across our products , geographies and top industries , with particular strength in our Commercial business due to the improving operating environment , " said Dean Hager , CEO of Jamf . " This performance , along with strength in our add - on products , gives us confidence as we enter the second half of the year and begin to integrate the Wandera solutions into our platform . We'll continue to execute our strategy and extend our leadership in Apple Enterprise Management as we start to deliver the full Jamf platform that connects , manages and protects all Apple devices , data and users . " Recent Business Highlights Ended the second quarter with 23.2 million Apple devices on our platform , representing growth of 35 % year over year , and more than 53,000 customers , representing growth of approximately 3,000 customers within the quarter . Completed the acquisition of Wandera , a leader in zero trust cloud security and access for mobile devices , on July 1 , 2021 . Expanded Jamf Connect with Jamf Unlock , a workflow application that provides enterprise - grade , passwordless , multi factor security , allowing users to authenticate to Mac via Face ID from their iPhone or iPad . Launched Compliance Reporter , a solution that provides greater visibility into Mac activity for threat hunting and compliance checks .