As of September 30, 2024, Jamf Holding Corp. reported total assets of $1,584.2 million, a slight decrease from $1,589.7 million at the end of 2023. Total current assets also fell to $398.7 million from $402.6 million. Cash and cash equivalents decreased to $218.4 million from $243.6 million, while trade accounts receivable increased to $114.0 million from $108.2 million. Total liabilities decreased to $863.7 million from $872.1 million, and stockholders' equity rose to $720.5 million from $717.5 million. However, the accumulated deficit increased significantly from $(418.8) million to $(506.2) million.
In terms of financial performance, Jamf reported revenue of $159.3 million for the three months ended September 30, 2024, up 12% from $142.6 million in the same period of 2023. Subscription revenue for the same quarter increased to $156.1 million from $138.5 million. For the nine months ended September 30, 2024, total revenue reached $464.4 million, a 13% increase from $409.9 million in 2023. Gross profit for the third quarter was $123.3 million, compared to $110.4 million in the prior year, while the gross profit for the nine months was $358.3 million, up from $317.1 million.
Despite the revenue growth, Jamf reported a loss from operations of $(15.9) million for the third quarter, an improvement from $(31.9) million in 2023. The net loss for the quarter was $(12.2) million, significantly better than the $(32.3) million loss in the same period last year. For the nine months, the net loss improved to $(52.0) million from $(92.7) million in 2023.
Strategically, Jamf completed the acquisition of dataJAR in July 2023 for approximately $25.1 million, which included cash payments and contingent future payments. The company also repurchased 2 million shares of its common stock for $35.4 million in May 2024. Additionally, a workforce reduction plan was announced in January 2024, affecting about 6% of full-time employees, aimed at reducing operating costs and improving margins.
Jamf's Annual Recurring Revenue (ARR) as of September 30, 2024, was $635.0 million, reflecting a 12% year-over-year increase, driven by device expansion and new customer additions. The company continues to focus on product innovation and international expansion, while also navigating economic challenges that may impact IT spending.
About Jamf Holding Corp.
About 10-Q Filings
A 10-Q form is an important financial report that public companies in the United States must submit every three months. It gives a clear picture of a company's financial health and recent performance.
Key points about the 10-Q:
- Frequency: Companies file it three times a year, covering the first three quarters. The fourth quarter is covered in a more comprehensive annual report.
-
Content: It includes:
- Financial statements showing the company's current financial position
- Updates from management on the performance and projections of the business
- Information about potential risks the company faces
- Details on how the company is run internally
- Deadline: Must be filed within 40 or 45 days after the quarter ends, depending on the size of the company.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.