Jamf Q2 results top expectations, hikes year revenue view, shares rise

Jamf said its annualized recurring revenue rose 38% to $333 million.
Written by Tiernan Ray, Senior Contributing Writer

Apple technology specialists Jamf this afternoon reported Q2 revenue and profit that both topped analysts' expectations, offered a revenue forecast for the current quarter higher as well, and hiked its year revenue outlook. 

Jamf shares rose 4% in late trading. 

CEO Dean Hager remarked, "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." 

Added Hager, "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." Hager was referring to the company's announcement in May it would buy zero-trust software maker Wandera for $400 million.


"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."

Revenue in the three months ended in June rose 39%, year over year, to $86.2 million, yielding a net profit of 6 cents a share.

Analysts had been modeling $83 million and 5 cents per share.

Jamf's recurring revenue on an annualized basis rose to $333 million, the company said, a 38% increase.

For the current quarter, the company sees revenue of $92.5 million to $94.5 million versus consensus for $85.1.

For the full year, the company sees revenue in a range of $357 million to $361 million, versus consensus of $338.9 million. That is up from the company's prior forecast, offered in May, of $335 million to $341 million. 

The new forecast includes approximately $11 million in expected revenue from the pending acquisition of Wandera, Jamf said.

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