Jamf Holding Corp. — Call Transcript 2025

Ladies and gentlemen, thank you for joining us and Welcome to Jamf's Second Quarter Earnings Call. After today's prepared remarks, we will host a question and answer session. If you would like to ask a question, please raise your hand. If you have dialed in to today's call, please press star nine to raise your hand and star six to unmute. I will now hand the conference over to Jennifer Gaumond, Vice President, Investor Relations. Please go ahead. Good afternoon and thank you for joining today's call to discuss Jamf's second quarter 2025 financial results. Joining me on today's call are John Strosahl, CEO, and David Rudow, CFO. Before we begin, a reminder that shortly after the market close today, we issued a press release announcing our second quarter financial results. We also published our Q2 investor and earnings presentations along with an Excel file containing quarterly financial statements to assist with modeling. You may access this information on the investor relations section of jamf.com. Today's discussion includes forward-looking statements, which involve risks and uncertainties that could cause actual results and trends to differ materially from our forecast. For more details, please refer to the risk factors and other information discussed in our most recent SEC reports, including our most recent annual report on Form 10-K. Jamf assumes no obligation to update forward-looking statements, which speak only as of the date they are made. We will also reference some non-GAAP measures related to Jamf's performance. Reconciliations to the nearest comparable GAAP measures are available in our earnings release. To facilitate a full Q&A, please limit yourself to one initial question and one follow-up. Now I'll turn it over to John. Thanks, Jenn. We saw very strong results in Q2 with year-over-year revenue growth of 15% and non-GAAP operating income margin of 19%, exceeding the high end of our outlook for both metrics. Total ARR grew 14% year-over-year to $710 million, driven by growth in security ARR from the addition of Identity Automation and the launch of our platform solutions. For the first time, we achieved over $700 million in total ARR, over $500 million of commercial ARR, and over $200 million of security ARR. Our platform strategy removes the barriers to Apple adoption by providing customers with our suite of security and management solutions in a single SKU. Each offering is tailored to specific buyer personas, leveraging Jamf's strong and long-tenured IT admin relationships. This enables Jamf to deliver across our four key growth factors: security, mobile, international, and channel. First, Jamf for Mobile. By investing in mobility, organizations can fundamentally change how they do business by enabling transformational workflows throughout their operations. Jamf has a proven track record of helping organizations who invest in a mobile-first strategy for both desktop and deskless users in multiple industries. By going beyond the mobility framework and providing comprehensive solutions and an extensive partner ecosystem, Jamf enables organizations to fully realize their digital transformation initiatives other vendors simply cannot provide. Mobile devices are at higher risk, with internal research data showing one in ten users click on a malicious phishing link. With Jamf for Mobile, we help IT and security teams confidently protect users, devices, data, and applications without impacting the end user experience. This helps risk-intolerant teams feel comfortable with introducing mobile into more workflows. Jamf for Mobile also makes it easy for mobility teams to plan, deploy, and scale mobile-first strategies and workflows. Layered capabilities provide controls for users, devices, and applications. With our vast partner ecosystem for vertical-specific use cases, organizations can implement a fully baked solution to make their digital transformation a reality. With Jamf for Mobile creating tailored experiences based on the employee's role, organizations can provide the exact resource employees need at the moment of need. For example, in retail, 40% of employees share or go without a mobile device. Insufficient IT infrastructure, complexity of integration, and technical issues are all highly cited reasons for not providing devices. The same challenge is also present in manufacturing, healthcare, hardhat industries, and transportation. In Q2, a Middle Eastern airline purchased Jamf for Mobile for 10,000 iPads to be used as crew devices and electronic flight bags. Jamf was chosen over the two largest UAM vendors for this four-year deal due to a number of factors, including protecting a rapidly scaling mobile fleet worldwide with a layered defense of network threat defense, secure DNS, real-time OS health with instant remediation and quarantine, feeding the airline's security operations center with actionable telemetry via native SIEM integration, delivering rich mobile-specific events, providing a granular data usage and roaming governance policies that cap spend without hindering operations, and combining all electronic flight bag critical controls into a single SKU, which is far simpler than piecemeal licensing offered by the competition. Helping make Jamf for Mobile even more robust, we recently announced Android enrollment support, which was available starting July 1st. Jamf has long delivered cross-platform mobile security. Android devices have already been protected by our mobile threat defense, web protections like phishing, content filtering, and zero trust access technologies. However, without Android enrollment support, many organizations had to rely on third-party unified endpoint management tools to meet cross-platform requirements. In those scenarios, Apple devices often ended up managed through platforms that weren't built with Apple in mind, leading to subpar experiences and limited access to native capabilities. With Android enrollment, Jamf for Mobile will enable organizations to manage their full mobile fleet through one solution while keeping Apple at the center of their mobile strategy. This addition is designed for organizations that want to select Apple as their strategic mobile platform but operate in environments where a small subset of Android devices still need support. Historically, that meant additional vendors, extra complexity, or compromises to the Apple experience. For Mac, endpoints have evolved, and management alone is no longer enough. Customers need a solution that not only simplifies Mac at work but also secures and protects it with built-in security, compliance, deep visibility, and identity controls. This is where Jamf for Mac stands apart, enhancing security while integrating seamlessly with existing tools and ensuring onboarding is quick and easy. Jamf for Mac is designed to complement, not replace, the security investment customers already have in place, filling the gaps where Windows-first security tools miss and our Apple-first approach reduces risk. In Q2, a German car manufacturer purchased Jamf for Mac after a proof of concept period where we won a full migration away from a legacy competitor. The process also included satisfying dozens of security requirements and numerous certifications as a testament to Jamf's commitment to security. Additionally, in Q2, a healthcare solutions provider recently converted to Jamf for Mac for its 5,000 Mac across a variety of users. This long-time Jamf customer was looking to expand their use of Mac and offering it as a choice to their employees. Part of this process included showing that the total cost of ownership to support Mac was lower or within the range of what it costs to support their PCs. Key to this win was demonstrating how Jamf for Mac offers all the tools to support Mac at scale, including purpose-built security for Mac environments and providing additional automation through Jamf Routines. Ultimately, the customer chose a three-year agreement with growth built in for years two and three, which will significantly increase the customer's Mac footprint over time. In education, technology goals have changed dramatically with a focus on meeting individual learner needs. This means that management, security, and classroom support have also changed, bringing a need for empowerment into the classroom with technology to support learning in multiple ways. As schools use devices more often in classrooms with less IT-specific knowledge, the need for students to have the right apps at the right time in a secure and safe environment where learning takes place is essential. Non-IT specialist staff don't want to be concerned with IT issues arising in a lesson and want to know that students are only using the devices and internet for subject-specific focused learning. As deployments grow, IT departments want to scale in an efficient and effective way. This includes making it simple and seamless to add additional devices, ensuring compliance with security policies, and meeting various end user needs without increasing their workload through help desk ticket fatigue. Jamf K-12 meets these goals by bringing a full solution that meets IT, learning, and teaching needs with device management, security, and classroom workflows. In Q2, a large school district in Kentucky switched from a UEM to Jamf for K-12 for both its student and faculty iPads. The district was struggling with their existing vendors' technical limitations, including the ability to track devices, remove pre-installed apps, and lock security settings effectively. Key to this four-year deal were Jamf's zero-touch deployment, the Jamf Teacher and Parent app, Blueprints for group device updates, and activity logging for individual devices. With Jamf K-12, the district has stronger device control, improved device visibility, enhanced support, and increased value. This win also represents one of our first cross-sell wins with Identity Automation. We're delighted to have the Identity Automation team on board and are pleased with the team's performance in Q2. The team is focused on delivering the remainder of the education buying season. As we look to the future, our vision is for Jamf to deliver secure, seamless access for every user on any device or platform while unlocking deeper, more personalized experience on Apple. By extending the identity platform into the native Apple ecosystem, Jamf transforms authentication into a frictionless advantage. In order to accelerate the execution of our platform strategy, we recently announced a strategic reinvestment plan to support the continued success of our business. This plan includes strategic reallocation of resources to allow for investments in areas with the highest growth potential and drive additional operational leverage in the business. We're focused on two key areas. First, we've made enhancements within go-to-market. We're taking steps to realign our go-to-market organization to allow for investments in areas that have the greatest opportunity for growth and align with our platform strategy. In enterprise, that means increasing investment and resources to support enterprise customers who deliver higher growth, stronger retention, and greater return on investment. This includes investing in enterprise sales talent to expand our reach. In addition, SMB customers are an important part of our base, representing a significant portion of our customer count and ARR. In order to streamline our go-to-market efforts within this segment, we're simplifying our approach to these customers by scaling our reach through the channel. Additionally, we're developing a more automated customer solution and experience to deliver greater customer value and improve operational efficiency. The second area of focus is enhancing our artificial intelligence capabilities. We've experienced meaningful efficiencies over the last year from deploying AI within our operations, sales, product, and customer success groups. For example, we've embedded AI across our sales forecasting, customer success, and support functions, driving improved forecasting accuracy, earlier risk detection, and scalable, cost-efficient customer engagement. In our product organization, the team has deployed AI tools for maintenance code generation, bulk update processing, and model context protocol server projects. We will continue to accelerate delivery of AI and automation-driven solutions across the entire organization and have established a governance process around it. Our strategic reinvestment plan will help expand our capabilities by accelerating investments in AI to further enhance the customer experience. We believe these initiatives will help drive long-term growth, improve operational efficiency, and enhance shareholder value. Recent AI innovations, along with enhanced automation, compliance, and identity management capabilities, were showcased during our global customer event series, Jamf Nation Live, across seven cities in Europe and the U.S. For AI, we featured new capabilities to enhance IT experiences, simplify operations, and improve efficiency. Jamf AI Assistant empowers IT administrators with intelligent, action-oriented capabilities designed to enhance productivity and support better decision-making. We introduced two new capabilities within AI Assistant: Search Skill and Explain Skill, now available in beta for testing. The Search Skill allows IT admins to perform quick, natural language inventory queries, making it faster and easier to identify devices that meet specific criteria, accelerating tasks like troubleshooting, compliance auditing, and fleet management. The Explain Skill simplifies the complexity of mobile device management by translating intricate configurations and policies into clear, easy-to-understand language, helping admins make informed decisions, streamline troubleshooting, and manage policies with greater confidence. The platform remains read-only with opt-in activation, ensuring customer controls and security compliance. The Jamf Nation Live series will continue in the upcoming months with events in Asia-Pacific. There is more to come during our Jamf Nation User Conference, October 7th through 9th in Denver. We hope you'll all join us for three days of the best of Apple management and security. Jenn will be reaching out to all of you with invitations shortly. Now I'll turn it over to David to review our Q2 results and provide our Q3 and full-year 2025 outlook. Thanks, John. As a reminder, all non-revenue metrics I'll be discussing will be on a non-GAAP basis. We achieved strong results in Q2, exceeding the high end of both our revenue and non-GAAP operating income outlook. Year-over-year total revenue growth was 15% to $176.5 million, exceeding the high end of our guidance range by $7 million. This performance was primarily due to the timing of certain revenues that were recognized in the second quarter and solid results from Identity Automation. As a reminder, we closed the acquisition on April 1st, so Q2 reflects a full quarter of Identity Automation results, which were better than expected. Total ARR grew 14% year-over-year to $710 million. Security bookings were strong, driving 40% year-over-year growth and security ARR to $203 million. This was driven by both the inclusion of Identity Automation into our results and the launch of our platform solutions. Additionally, net new commercial ARR saw year-over-year growth. After viewing the increasing level of local currency billings that are made possible due to our system update last year, we are moving to a quarterly FX adjustment to ARR from our previous annual timing. This change will allow for better comparability with our revenue, RPO, and operating income, and will also result in a more moderate quarterly impact than waiting until Q1 to post the annual adjustment. The adjustment in Q2 for the first half was a less than 1% impact to total ARR balance. Recurring revenue grew 16% and represented 98% of total revenues. We saw significant growth acceleration in RPO, with total RPO growing over 20% and long-term RPO growing nearly 40%. Excluding Identity Automation, we saw total RPO growth of nearly 15% and long-term growth of approximately 28%, showing the increasing level of commitment from customers as they continue to expand both the size and length of their Jamf contracts. Trailing 12-month net retention rate remained relatively flat to Q1 at 103%, and gross retention rates remained consistent with historical levels. Non-GAAP operating income was $33.5 million, or a 19% margin, a 360 basis point improvement over Q2 2024. Sales and marketing as a percent of total revenue improved approximately 300 basis points compared to the prior year period, and G&A improved approximately 150 basis points. We remain committed to improving efficiencies across our business. Q2 adjusted EBITDA grew 40% to $35.3 million, representing a 20% margin. Trailing 12-month unlevered free cash flow surpassed $100 million for the first time, growing 24% to $102.9 million. This represents a 15.4% margin compared to a 13.8% margin in the prior year. We made good progress on collections from billings that were delayed due to our comprehensive systems update last year and still expect DSOs to return to normal levels over the next few quarters. From a cash perspective, we ended Q2 with $482 million compared to $222 million at the end of Q1. This increase in cash was driven primarily by the $400 million term loan facility we entered into in May, partially offset by the $175 million payment associated with the close of the Identity Automation acquisition on April 1st. This term loan facility was entered into under the same terms as our revolving credit facility. We intend to use the proceeds to finance the $40 million deferred payment for the Identity Automation acquisition, to repurchase a portion of our convertible senior notes due 2026, and for general corporate purposes. Turning to our outlook for the third quarter and full year 2025, we remain committed to being a profitable growth company and will continue improving efficiencies and strategically investing for growth. This outlook reflects our belief in creating an achievable model and is reflective of the recently announced strategic reinvestment plan and the current market conditions. For the third quarter 2025, we expect total revenue of $176 to $178 million, representing year-over-year growth of 11% at the midpoint. Non-GAAP operating income of $41.5 to $42.5 million, representing a non-GAAP operating margin of 24% and growth of 52% at the midpoint. For the full year 2025, we're raising our outlook. We now expect total revenue of $701 to $704 million, representing year-over-year growth of 12% at the midpoint and an increase of $9.5 million from our prior outlook. Non-GAAP operating income of $153.5 to $155.5 million, representing a non-GAAP operating margin of 22% at the midpoint and approximately 600 basis point improvement over fiscal year 2024. This also reflects an $8.5 million increase from our prior outlook and year-over-year growth of 50%. Additionally, given our strong margin profile, we continue to expect to generate unlevered free cash flow growth of at least 75% for the year. In closing, we remain committed to growth while driving incremental operating margin improvement. Our objective is to exit fiscal 2026 at a rule of 40 run rate, as defined as the sum of the year-over-year revenue growth plus adjusted EBITDA margin. I want to thank all our hardworking and dedicated employees for their continued excellent execution. Now we will take your questions. Operator? Thank you. We will now begin the question and answer session. If you'd like to ask a question, please raise your hand now. If you have dialed into today's call, please press star nine to raise your hand and star six to unmute. Please stand by while we compile the Q&A roster. Your first question comes from the line of Raimo Lenschow with Barclays. Your line is open. Please go ahead. Perfect. Thank you. Can you hear me OK? Yes, we can. Perfect. Thank you. Quick question, the decision to support the broader ecosystem now is obviously very interesting. How quickly do you think that will drive results now that you do Android in terms of opening up a new sales, new momentum around sales pitches, etc? Yeah. Hey, Raimo. It's John here. I'll take the question. You know, really, we developed this because at the behest of our customers, like we do with most things like security and others. It's really there have been mobile installments where a portion of that has been on the Android side, and the majority of it has been on the iOS side. They've asked us, hey, we want to use your security products. Is there a way that we can enroll these Android devices so that we can roll that out? That's really the reason behind this. Not only because they've been requesting it, we've had some pretty good traction on that so far. We've gone back to those same customers and said, OK, now we can do this as of July 1st. We've had a lot of interest in it and some really good uptake. OK, perfect. One question for David. Like Identity Automation, you said it's going better. How much of revenue are we talking about now, that you think Q2, and as it's now part of the bigger group, how should we think about the contribution effort the rest of the year? Yeah, we've integrated that into the education business. The CEO of Identity Automation is actually now running the entire education group. All the salespeople within education now have Identity Automation in their bag to sell, which is great. We've seen good traction with that. We've had a couple of cross-sells, which is really good, and the pipeline is building around that. We talked about the upside in the quarter. Half of that was generated from Identity Automation, partially because we built a conservative model. It's a new acquisition. We had to get a good understanding of the business. They also did outperform our expectations in the quarter. The other half is Jamf-related, improved performance out of Jamf. We also had some partner-related business that were signed in Q1, but we recognized revenues in Q2. That was the other reason for that upside in the quarter. OK, perfect. Thank you. Congrats. Thank you. Your next question comes from the line of Samik Chatterjee with JPMorgan. Your line is now open. Please go ahead. Hi. Thanks for taking my question here. Maybe just starting with the strategic sort of action plan that you took relative to resource allocation. I know it's sort of moving resources around to better align for growth. Since you're sort of reiterating your plan to exit fiscal 2026 with the rule of 40, just curious if as you've taken a closer look at your cost profile, has your view changed in terms of how to meet the rule of 40 when you exit fiscal 2026, more in relation to your 25% operating margin target that you have for that time period? I have a follow-up. Thank you. Yeah, so our strategic reinvestment plan that we put in place was really around kind of moving around resources to further support areas of growth of the business. What we found through our new data that we can review and analyze from the system update is that I think there's ways that we can further improve efficiencies in the small business side. Still a very important channel for us. We're going to make investments in the channel. We will also invest in automation and AI. In turn, we will also expand our enterprise sales and support team as well. The channel will see investments around the world too, because we've seen very good traction. We're still targeting a rule of 40 exiting 2026. There's no change there. There will be some cost savings, but really the efforts around this were to strategically realign the business to accelerate growth. OK. Got it. Maybe just turning back to sort of the near-term drivers here, in relation to the fiscal 3Q guide, you did mention this is sort of a less than normal seasonality from 2Q that you're guiding to, from what I can see relative to the last couple of years. I think some of this is probably what you mentioned in terms of timing of revenue recognition in Q2. Maybe if you can just talk and help us sort of think through why this might be more closer to normal seasonality or what the magnitude of those timing impacts on Q2 were, or are you seeing anything different from normal seasonality in relation to your Q3 guide? Yeah, no, I think if you remove those one-time revenue numbers from Q2, it would be more seasonal. It would be kind of a more seasonal ramp into Q3. We have Identity Automation, you know, it is a heavy season for them on the education side in Q3. We expect to see a little bit better improvement there, Identity Automation. In Q4 on Identity Automation, they will have a little bit lighter sequentially down revenue number for Q4 as well. OK. Got it. Great. Thank you. Thanks for taking my questions. Thank you. Next question comes from the line of Jake Roberge with William Blair. Your line is open. Please go ahead. Hello. Can you hear me? We can hear you. Yep, we can hear you. Thanks. Hi. This is Jacob Zerbib for Jake Roberge and thank you for taking my question. You talked a little bit about how you're increasing go-to-market efficiency. I just wanted to touch on your partner network. Can you talk a little bit about how progress with partners in the United States is going? Do you think this channel could eventually drive similar revenues to your international channel? Thank you. Yeah, Jake, I'll take the question here. It's John. We've really been leaning into the channel, specifically domestically. We have a majority of our business, as you mentioned, outside the U.S. already goes through the channel because we started with channel first. In the U.S. here, really leaning into the channel. Part of this technical upgrade or systems upgrade that we've been working on not only gave us visibility into the company to show us where we can invest and where our growth is and things where we can really accelerate that growth, but it's also on the channel capability side. Now the fact that we have a channel partner portal that they can come in and register their own deals and create their own quotes without involving a salesperson at Jamf, a lot of the efficiencies that they get in addition to the new partner program that we've rolled out that gives higher incentives for deal registration and really helping us build the top of the funnel, being channel first. Now over 2/3 of our business coming from the channel globally, again, 80% of that coming from outside the U.S. and increasing pretty rapidly inside the U.S. To answer your question, yes, we believe we can get to those levels worldwide that we have internationally. We're continuing to do that to help leverage the growth, especially as it relates to some of our smaller customers or mid-market customers. Got it. Thank you. I just wanted to ask about security. You've done a really good job with management and also in the education sector in the international market. Can you talk a little bit about demand for your security solutions there? Thank you. Yeah, I can take that question as well. This is John. As I mentioned earlier in Raimo's question, this was something that we had done at the behest of our customers. We continue to see increased demand for our security products. You can't have a secure device without having management and security together on that. We've seen it in the results that we've had this quarter as well with substantial growth in the security. We continue to see our customers leaning into that, especially as it relates to mobile. That's been one of our fastest growing types of business. We see that across our retail customers, across our transportation customers, professional services, even into manufacturing, all of those areas where the security, those businesses that are working that deskless workflow understand that those endpoints need to be both managed and secured. That's where we're getting a lot of good traction there as well. Got it. Thank you for taking my question. Thank you. Your next question comes from the line of Patrick Walravens with Citizens Bank. Your line is open. Please go ahead. Hi, team. This is Kincaid on for Pat. You know, super excited to hear about this go-to-market shift. I was wondering if you could highlight any specific changes in rep quotas or what you're trying to push people to sell through that. Yeah, I can take that. Kincaid, this is John. As we look at what we're pushing the reps to sell, I guess, is the platform solutions that we have. It really blends management and security, whether it's a different persona, a customer buying for the Mac, or a customer buying for the mobile. Those solutions really oriented toward that persona have done really well. As we look at focusing our go-to-market efforts, we, as David mentioned, the small to medium-sized customer base is significant for us. We're going to continue to support that in a way that those customers want to be supported and also to lean more into the enterprise. As we invest in some of our sales resources and go-to-market resources on the enterprise side, really, we see a lot of growth there and very low churn. Our LTV to CAC is very good in that area. We're going to continue to lean into it to exercise that muscle and generate accelerated growth. Spectacular. Thank you so much. OK. There are no further questions at this time. I will turn the call back over to John Strosahl for closing remarks. Thank you, everyone, for your time today. We hope to see some of you at the upcoming conferences and our annual user conference JNUC, which is early October. Have a great evening. Thank you. This concludes today's call. Thank you for attending. You may now disconnect.

Speaker 5: Ladies and gentlemen, thank you for joining us and Welcome to Jamf's Second Quarter Earnings Call. After today's prepared remarks, we will host a question and answer session. If you would like to ask a question, please raise your hand. If you have dialed in to today's call, please press star nine to raise your hand and star six to unmute. I will now hand the conference over to Jennifer Gaumond, Vice President, Investor Relations. Please go ahead. Ladies and gentlemen, thank you for joining us and Welcome to Jamf's S econd Quarter Earnings Call. ladies and gentlemen thank you for joining us and welcome to jamf's s econd quarter earnings call After today's prepared remarks, we will host a question and answer session. after today's prepared remarks we will host a question and answer session If you would like to ask a question, please raise your hand. if you would like to ask a question please raise your hand If you have dialed in to today's call, please press star nine to raise your hand and star six to unmute. if you have dialed in to today's call please press star nine to raise your hand and star six to unmute I will now hand the conference over to Jennifer Gaumond, Vice President, Investor Relations. i will now hand the conference over to jennifer gaumond vice president investor relations Please go ahead. please go ahead

Speaker 2: Good afternoon and thank you for joining today's call to discuss Jamf's second quarter 2025 financial results. Joining me on today's call are John Strosahl, CEO, and David Rudow, CFO. Before we begin, a reminder that shortly after the market close today, we issued a press release announcing our second quarter financial results. We also published our Q2 investor and earnings presentations along with an Excel file containing quarterly financial statements to assist with modeling. You may access this information on the investor relations section of jamf.com. Today's discussion includes forward-looking statements, which involve risks and uncertainties that could cause actual results and trends to differ materially from our forecast. For more details, please refer to the risk factors and other information discussed in our most recent SEC reports, including our most recent annual report on Form 10-K. Good afternoon and thank you for joining today's call to discuss Jamf's second quarter 2025 financial results. good afternoon and thank you for joining today's call to discuss jamf's second quarter 2025 financial results Joining me on today's call are John Strosahl, CEO, and David Rudow, CFO. joining me on today's call are john strosahl ceo and david rudow cfo Before we begin, a reminder that shortly after the market close today, we issued a press release announcing our second quarter financial results. before we begin a reminder that shortly after the market close today we issued a press release announcing our second quarter financial results We also published our Q2 investor and earnings presentations along with an Excel file containing quarterly financial statements to assist with modeling. we also published our q2 investor and earnings presentations along with an excel file containing quarterly financial statements to assist with modeling You may access this information on the investor relations section of jamf.com. you may access this information on the investor relations section of jamf.com Today's discussion includes forward-looking statements, which involve risks and uncertainties that could cause actual results and trends to differ materially from our forecast. today's discussion includes forward-looking statements which involve risks and uncertainties that could cause actual results and trends to differ materially from our forecast For more details, please refer to the risk factors and other information discussed in our most recent SEC reports, including our most recent annual report on Form 10-K. for more details please refer to the risk factors and other information discussed in our most recent sec reports including our most recent annual report on form 10-k Jamf assumes no obligation to update forward-looking statements, which speak only as of the date they are made. We will also reference some non-GAAP measures related to Jamf's performance. Reconciliations to the nearest comparable GAAP measures are available in our earnings release. To facilitate a full Q&A, please limit yourself to one initial question and one follow-up. Now I'll turn it over to John. Jamf assumes no obligation to update forward-looking statements, which speak only as of the date they are made. jamf assumes no obligation to update forward-looking statements which speak only as of the date they are made We will also reference some non-GAAP measures related to Jamf's performance. we will also reference some non-gaap measures related to jamf's performance Reconciliations to the nearest comparable GAAP measures are available in our earnings release. reconciliations to the nearest comparable gaap measures are available in our earnings release To facilitate a full Q&A, please limit yourself to one initial question and one follow-up. to facilitate a full q&a please limit yourself to one initial question and one follow-up Now I'll turn it over to John. now i'll turn it over to john

Speaker 4: Thanks, Jenn. We saw very strong results in Q2 with year-over-year revenue growth of 15% and non-GAAP operating income margin of 19%, exceeding the high end of our outlook for both metrics. Total ARR grew 14% year-over-year to $710 million, driven by growth in security ARR from the addition of Identity Automation and the launch of our platform solutions. For the first time, we achieved over $700 million in total ARR, over $500 million of commercial ARR, and over $200 million of security ARR. Our platform strategy removes the barriers to Apple adoption by providing customers with our suite of security and management solutions in a single SKU. Each offering is tailored to specific buyer personas, leveraging Jamf's strong and long-tenured IT admin relationships. This enables Jamf to deliver across our four key growth factors: security, mobile, international, and channel. First, Jamf for Mobile. Thanks, Jenn. thanks jenn We saw very strong results in Q2 with year-over-year revenue growth of 15% and non-GAAP operating income margin of 19%, exceeding the high end of our outlook for both metrics. we saw very strong results in q2 with year-over-year revenue growth of 15% and non-gaap operating income margin of 19% exceeding the high end of our outlook for both metrics Total ARR grew 14% year-over-year to $710 million, driven by growth in security ARR from the addition of Identity Automation and the launch of our platform solutions. total arr grew 14% year-over-year to $710 million driven by growth in security arr from the addition of identity automation and the launch of our platform solutions For the first time, we achieved over $700 million in total ARR, over $500 million of commercial ARR, and over $200 million of security ARR. for the first time we achieved over $700 million in total arr over $500 million of commercial arr and over $200 million of security arr Our platform strategy removes the barriers to Apple adoption by providing customers with our suite of security and management solutions in a single SKU. our platform strategy removes the barriers to apple adoption by providing customers with our suite of security and management solutions in a single sku Each offering is tailored to specific buyer personas, leveraging Jamf's strong and long-tenured IT admin relationships. each offering is tailored to specific buyer personas leveraging jamf's strong and long-tenured it admin relationships This enables Jamf to deliver across our four key growth factors: security, mobile, international, and channel. this enables jamf to deliver across our four key growth factors security mobile international and channel First, Jamf for Mobile. first jamf for mobile By investing in mobility, organizations can fundamentally change how they do business by enabling transformational workflows throughout their operations. Jamf has a proven track record of helping organizations who invest in a mobile-first strategy for both desktop and deskless users in multiple industries. By going beyond the mobility framework and providing comprehensive solutions and an extensive partner ecosystem, Jamf enables organizations to fully realize their digital transformation initiatives other vendors simply cannot provide. Mobile devices are at higher risk, with internal research data showing one in ten users click on a malicious phishing link. With Jamf for Mobile, we help IT and security teams confidently protect users, devices, data, and applications without impacting the end user experience. This helps risk-intolerant teams feel comfortable with introducing mobile into more workflows. Jamf for Mobile also makes it easy for mobility teams to plan, deploy, and scale mobile-first strategies and workflows. By investing in mobility, organizations can fundamentally change how they do business by enabling transformational workflows throughout their operations. by investing in mobility organizations can fundamentally change how they do business by enabling transformational workflows throughout their operations Jamf has a proven track record of helping organizations who invest in a mobile-first strategy for both desktop and deskless users in multiple industries. jamf has a proven track record of helping organizations who invest in a mobile-first strategy for both desktop and deskless users in multiple industries By going beyond the mobility framework and providing comprehensive solutions and an extensive partner ecosystem, Jamf enables organizations to fully realize their digital transformation initiatives other vendors simply cannot provide. by going beyond the mobility framework and providing comprehensive solutions and an extensive partner ecosystem jamf enables organizations to fully realize their digital transformation initiatives other vendors simply cannot provide Mobile devices are at higher risk, with internal research data showing one in ten users click on a malicious phishing link. mobile devices are at higher risk with internal research data showing one in ten users click on a malicious phishing link With Jamf for Mobile, we help IT and security teams confidently protect users, devices, data, and applications without impacting the end user experience. with jamf for mobile we help it and security teams confidently protect users devices data and applications without impacting the end user experience This helps risk-intolerant teams feel comfortable with introducing mobile into more workflows. this helps risk-intolerant teams feel comfortable with introducing mobile into more workflows Jamf for Mobile also makes it easy for mobility teams to plan, deploy, and scale mobile-first strategies and workflows. jamf for mobile also makes it easy for mobility teams to plan deploy and scale mobile-first strategies and workflows Layered capabilities provide controls for users, devices, and applications. With our vast partner ecosystem for vertical-specific use cases, organizations can implement a fully baked solution to make their digital transformation a reality. With Jamf for Mobile creating tailored experiences based on the employee's role, organizations can provide the exact resource employees need at the moment of need. For example, in retail, 40% of employees share or go without a mobile device. Insufficient IT infrastructure, complexity of integration, and technical issues are all highly cited reasons for not providing devices. The same challenge is also present in manufacturing, healthcare, hardhat industries, and transportation. In Q2, a Middle Eastern airline purchased Jamf for Mobile for 10,000 iPads to be used as crew devices and electronic flight bags. Layered capabilities provide controls for users, devices, and applications. layered capabilities provide controls for users devices and applications With our vast partner ecosystem for vertical-specific use cases, organizations can implement a fully baked solution to make their digital transformation a reality. with our vast partner ecosystem for vertical-specific use cases organizations can implement a fully baked solution to make their digital transformation a reality With Jamf for Mobile creating tailored experiences based on the employee's role, organizations can provide the exact resource employees need at the moment of need. with jamf for mobile creating tailored experiences based on the employee's role organizations can provide the exact resource employees need at the moment of need For example, in retail, 40% of employees share or go without a mobile device. for example in retail 40% of employees share or go without a mobile device Insufficient IT infrastructure, complexity of integration, and technical issues are all highly cited reasons for not providing devices. insufficient it infrastructure complexity of integration and technical issues are all highly cited reasons for not providing devices The same challenge is also present in manufacturing, healthcare, hardhat industries, and transportation. the same challenge is also present in manufacturing healthcare hardhat industries and transportation In Q2, a Middle Eastern airline purchased Jamf for Mobile for 10,000 iPads to be used as crew devices and electronic flight bags. in q2 a middle eastern airline purchased jamf for mobile for 10,000 ipads to be used as crew devices and electronic flight bags Jamf was chosen over the two largest UAM vendors for this four-year deal due to a number of factors, including protecting a rapidly scaling mobile fleet worldwide with a layered defense of network threat defense, secure DNS, real-time OS health with instant remediation and quarantine, feeding the airline's security operations center with actionable telemetry via native SIEM integration, delivering rich mobile-specific events, providing a granular data usage and roaming governance policies that cap spend without hindering operations, and combining all electronic flight bag critical controls into a single SKU, which is far simpler than piecemeal licensing offered by the competition. Helping make Jamf for Mobile even more robust, we recently announced Android enrollment support, which was available starting July 1st. Jamf has long delivered cross-platform mobile security. Android devices have already been protected by our mobile threat defense, web protections like phishing, content filtering, and zero trust access technologies. Jamf was chosen over the two largest UAM vendors for this four-year deal due to a number of factors, including protecting a rapidly scaling mobile fleet worldwide with a layered defense of network threat defense, secure DNS, real-time OS health with instant remediation and quarantine, feeding the airline's security operations center with actionable telemetry via native SIEM integration, delivering rich mobile-specific events, providing a granular data usage and roaming governance policies that cap spend without hindering operations, and combining all electronic flight bag critical controls into a single SKU, which is far simpler than piecemeal licensing offered by the competition. jamf was chosen over the two largest uam vendors for this four-year deal due to a number of factors including protecting a rapidly scaling mobile fleet worldwide with a layered defense of network threat defense secure dns real-time os health with instant remediation and quarantine feeding the airline's security operations center with actionable telemetry via native siem integration delivering rich mobile-specific events providing a granular data usage and roaming governance policies that cap spend without hindering operations and combining all electronic flight bag critical controls into a single sku which is far simpler than piecemeal licensing offered by the competition Helping make Jamf for Mobile even more robust, we recently announced Android enrollment support, which was available starting July 1st. helping make jamf for mobile even more robust we recently announced android enrollment support which was available starting july 1st Jamf has long delivered cross-platform mobile security. jamf has long delivered cross-platform mobile security Android devices have already been protected by our mobile threat defense, web protections like phishing, content filtering, and zero trust access technologies. android devices have already been protected by our mobile threat defense web protections like phishing content filtering and zero trust access technologies However, without Android enrollment support, many organizations had to rely on third-party unified endpoint management tools to meet cross-platform requirements. In those scenarios, Apple devices often ended up managed through platforms that weren't built with Apple in mind, leading to subpar experiences and limited access to native capabilities. With Android enrollment, Jamf for Mobile will enable organizations to manage their full mobile fleet through one solution while keeping Apple at the center of their mobile strategy. This addition is designed for organizations that want to select Apple as their strategic mobile platform but operate in environments where a small subset of Android devices still need support. Historically, that meant additional vendors, extra complexity, or compromises to the Apple experience. For Mac, endpoints have evolved, and management alone is no longer enough. However, without Android enrollment support, many organizations had to rely on third-party unified endpoint management tools to meet cross-platform requirements. however without android enrollment support many organizations had to rely on third-party unified endpoint management tools to meet cross-platform requirements In those scenarios, Apple devices often ended up managed through platforms that weren't built with Apple in mind, leading to subpar experiences and limited access to native capabilities. in those scenarios apple devices often ended up managed through platforms that weren't built with apple in mind leading to subpar experiences and limited access to native capabilities With Android enrollment, Jamf for Mobile will enable organizations to manage their full mobile fleet through one solution while keeping Apple at the center of their mobile strategy. with android enrollment jamf for mobile will enable organizations to manage their full mobile fleet through one solution while keeping apple at the center of their mobile strategy This addition is designed for organizations that want to select Apple as their strategic mobile platform but operate in environments where a small subset of Android devices still need support. this addition is designed for organizations that want to select apple as their strategic mobile platform but operate in environments where a small subset of android devices still need support Historically, that meant additional vendors, extra complexity, or compromises to the Apple experience. historically that meant additional vendors extra complexity or compromises to the apple experience For Mac, endpoints have evolved, and management alone is no longer enough. for mac endpoints have evolved and management alone is no longer enough Customers need a solution that not only simplifies Mac at work but also secures and protects it with built-in security, compliance, deep visibility, and identity controls. This is where Jamf for Mac stands apart, enhancing security while integrating seamlessly with existing tools and ensuring onboarding is quick and easy. Jamf for Mac is designed to complement, not replace, the security investment customers already have in place, filling the gaps where Windows-first security tools miss and our Apple-first approach reduces risk. In Q2, a German car manufacturer purchased Jamf for Mac after a proof of concept period where we won a full migration away from a legacy competitor. The process also included satisfying dozens of security requirements and numerous certifications as a testament to Jamf's commitment to security. Additionally, in Q2, a healthcare solutions provider recently converted to Jamf for Mac for its 5,000 Mac across a variety of users. Customers need a solution that not only simplifies Mac at work but also secures and protects it with built-in security, compliance, deep visibility, and identity controls. customers need a solution that not only simplifies mac at work but also secures and protects it with built-in security compliance deep visibility and identity controls This is where Jamf for Mac stands apart, enhancing security while integrating seamlessly with existing tools and ensuring onboarding is quick and easy. this is where jamf for mac stands apart enhancing security while integrating seamlessly with existing tools and ensuring onboarding is quick and easy Jamf for Mac is designed to complement, not replace, the security investment customers already have in place, filling the gaps where Windows-first security tools miss and our Apple-first approach reduces risk. jamf for mac is designed to complement not replace the security investment customers already have in place filling the gaps where windows-first security tools miss and our apple-first approach reduces risk In Q2, a German car manufacturer purchased Jamf for Mac after a proof of concept period where we won a full migration away from a legacy competitor. in q2 a german car manufacturer purchased jamf for mac after a proof of concept period where we won a full migration away from a legacy competitor The process also included satisfying dozens of security requirements and numerous certifications as a testament to Jamf's commitment to security. the process also included satisfying dozens of security requirements and numerous certifications as a testament to jamf's commitment to security Additionally, in Q2, a healthcare solutions provider recently converted to Jamf for Mac for its 5,000 Mac across a variety of users. additionally in q2 a healthcare solutions provider recently converted to jamf for mac for its 5,000 mac across a variety of users This long-time Jamf customer was looking to expand their use of Mac and offering it as a choice to their employees. Part of this process included showing that the total cost of ownership to support Mac was lower or within the range of what it costs to support their PCs. Key to this win was demonstrating how Jamf for Mac offers all the tools to support Mac at scale, including purpose-built security for Mac environments and providing additional automation through Jamf Routines. Ultimately, the customer chose a three-year agreement with growth built in for years two and three, which will significantly increase the customer's Mac footprint over time. In education, technology goals have changed dramatically with a focus on meeting individual learner needs. This means that management, security, and classroom support have also changed, bringing a need for empowerment into the classroom with technology to support learning in multiple ways. This long-time Jamf customer was looking to expand their use of Mac and offering it as a choice to their employees. this long-time jamf customer was looking to expand their use of mac and offering it as a choice to their employees Part of this process included showing that the total cost of ownership to support Mac was lower or within the range of what it costs to support their PCs. part of this process included showing that the total cost of ownership to support mac was lower or within the range of what it costs to support their pcs Key to this win was demonstrating how Jamf for Mac offers all the tools to support Mac at scale, including purpose-built security for Mac environments and providing additional automation through Jamf Routines. key to this win was demonstrating how jamf for mac offers all the tools to support mac at scale including purpose-built security for mac environments and providing additional automation through jamf routines Ultimately, the customer chose a three-year agreement with growth built in for years two and three, which will significantly increase the customer's Mac footprint over time. ultimately the customer chose a three-year agreement with growth built in for years two and three which will significantly increase the customer's mac footprint over time In education, technology goals have changed dramatically with a focus on meeting individual learner needs. in education technology goals have changed dramatically with a focus on meeting individual learner needs This means that management, security, and classroom support have also changed, bringing a need for empowerment into the classroom with technology to support learning in multiple ways. this means that management security and classroom support have also changed bringing a need for empowerment into the classroom with technology to support learning in multiple ways As schools use devices more often in classrooms with less IT-specific knowledge, the need for students to have the right apps at the right time in a secure and safe environment where learning takes place is essential. Non-IT specialist staff don't want to be concerned with IT issues arising in a lesson and want to know that students are only using the devices and internet for subject-specific focused learning. As deployments grow, IT departments want to scale in an efficient and effective way. This includes making it simple and seamless to add additional devices, ensuring compliance with security policies, and meeting various end user needs without increasing their workload through help desk ticket fatigue. Jamf K-12 meets these goals by bringing a full solution that meets IT, learning, and teaching needs with device management, security, and classroom workflows. As schools use devices more often in classrooms with less IT-specific knowledge, the need for students to have the right apps at the right time in a secure and safe environment where learning takes place is essential. as schools use devices more often in classrooms with less it-specific knowledge the need for students to have the right apps at the right time in a secure and safe environment where learning takes place is essential Non-IT specialist staff don't want to be concerned with IT issues arising in a lesson and want to know that students are only using the devices and internet for subject-specific focused learning. non-it specialist staff don't want to be concerned with it issues arising in a lesson and want to know that students are only using the devices and internet for subject-specific focused learning As deployments grow, IT departments want to scale in an efficient and effective way. as deployments grow it departments want to scale in an efficient and effective way This includes making it simple and seamless to add additional devices, ensuring compliance with security policies, and meeting various end user needs without increasing their workload through help desk ticket fatigue. this includes making it simple and seamless to add additional devices ensuring compliance with security policies and meeting various end user needs without increasing their workload through help desk ticket fatigue Jamf K-12 meets these goals by bringing a full solution that meets IT, learning, and teaching needs with device management, security, and classroom workflows. jamf k-12 meets these goals by bringing a full solution that meets it learning and teaching needs with device management security and classroom workflows In Q2, a large school district in Kentucky switched from a UEM to Jamf for K-12 for both its student and faculty iPads. The district was struggling with their existing vendors' technical limitations, including the ability to track devices, remove pre-installed apps, and lock security settings effectively. Key to this four-year deal were Jamf's zero-touch deployment, the Jamf Teacher and Parent app, Blueprints for group device updates, and activity logging for individual devices. With Jamf K-12, the district has stronger device control, improved device visibility, enhanced support, and increased value. This win also represents one of our first cross-sell wins with Identity Automation. We're delighted to have the Identity Automation team on board and are pleased with the team's performance in Q2. The team is focused on delivering the remainder of the education buying season. In Q2, a large school district in Kentucky switched from a UEM to Jamf for K-12 for both its student and faculty iPads. in q2 a large school district in kentucky switched from a uem to jamf for k-12 for both its student and faculty ipads The district was struggling with their existing vendors' technical limitations, including the ability to track devices, remove pre-installed apps, and lock security settings effectively. the district was struggling with their existing vendors' technical limitations including the ability to track devices remove pre-installed apps and lock security settings effectively Key to this four-year deal were Jamf's zero-touch deployment, the Jamf Teacher and Parent app, Blueprints for group device updates, and activity logging for individual devices. key to this four-year deal were jamf's zero-touch deployment the jamf teacher and parent app blueprints for group device updates and activity logging for individual devices With Jamf K-12, the district has stronger device control, improved device visibility, enhanced support, and increased value. with jamf k-12 the district has stronger device control improved device visibility enhanced support and increased value This win also represents one of our first cross-sell wins with Identity Automation. this win also represents one of our first cross-sell wins with identity automation We're delighted to have the Identity Automation team on board and are pleased with the team's performance in Q2. we're delighted to have the identity automation team on board and are pleased with the team's performance in q2 The team is focused on delivering the remainder of the education buying season. the team is focused on delivering the remainder of the education buying season As we look to the future, our vision is for Jamf to deliver secure, seamless access for every user on any device or platform while unlocking deeper, more personalized experience on Apple. By extending the identity platform into the native Apple ecosystem, Jamf transforms authentication into a frictionless advantage. In order to accelerate the execution of our platform strategy, we recently announced a strategic reinvestment plan to support the continued success of our business. This plan includes strategic reallocation of resources to allow for investments in areas with the highest growth potential and drive additional operational leverage in the business. We're focused on two key areas. First, we've made enhancements within go-to-market. We're taking steps to realign our go-to-market organization to allow for investments in areas that have the greatest opportunity for growth and align with our platform strategy. As we look to the future, our vision is for Jamf to deliver secure, seamless access for every user on any device or platform while unlocking deeper, more personalized experience on Apple. as we look to the future our vision is for jamf to deliver secure seamless access for every user on any device or platform while unlocking deeper more personalized experience on apple By extending the identity platform into the native Apple ecosystem, Jamf transforms authentication into a frictionless advantage. by extending the identity platform into the native apple ecosystem jamf transforms authentication into a frictionless advantage In order to accelerate the execution of our platform strategy, we recently announced a strategic reinvestment plan to support the continued success of our business. in order to accelerate the execution of our platform strategy we recently announced a strategic reinvestment plan to support the continued success of our business This plan includes strategic reallocation of resources to allow for investments in areas with the highest growth potential and drive additional operational leverage in the business. this plan includes strategic reallocation of resources to allow for investments in areas with the highest growth potential and drive additional operational leverage in the business We're focused on two key areas. we're focused on two key areas First, we've made enhancements within go-to-market. first we've made enhancements within go-to-market We're taking steps to realign our go-to-market organization to allow for investments in areas that have the greatest opportunity for growth and align with our platform strategy. we're taking steps to realign our go-to-market organization to allow for investments in areas that have the greatest opportunity for growth and align with our platform strategy In enterprise, that means increasing investment and resources to support enterprise customers who deliver higher growth, stronger retention, and greater return on investment. This includes investing in enterprise sales talent to expand our reach. In addition, SMB customers are an important part of our base, representing a significant portion of our customer count and ARR. In order to streamline our go-to-market efforts within this segment, we're simplifying our approach to these customers by scaling our reach through the channel. Additionally, we're developing a more automated customer solution and experience to deliver greater customer value and improve operational efficiency. The second area of focus is enhancing our artificial intelligence capabilities. We've experienced meaningful efficiencies over the last year from deploying AI within our operations, sales, product, and customer success groups. In enterprise, that means increasing investment and resources to support enterprise customers who deliver higher growth, stronger retention, and greater return on investment. in enterprise that means increasing investment and resources to support enterprise customers who deliver higher growth stronger retention and greater return on investment This includes investing in enterprise sales talent to expand our reach. this includes investing in enterprise sales talent to expand our reach In addition, SMB customers are an important part of our base, representing a significant portion of our customer count and ARR. in addition smb customers are an important part of our base representing a significant portion of our customer count and arr In order to streamline our go-to-market efforts within this segment, we're simplifying our approach to these customers by scaling our reach through the channel. in order to streamline our go-to-market efforts within this segment we're simplifying our approach to these customers by scaling our reach through the channel Additionally, we're developing a more automated customer solution and experience to deliver greater customer value and improve operational efficiency. additionally we're developing a more automated customer solution and experience to deliver greater customer value and improve operational efficiency The second area of focus is enhancing our artificial intelligence capabilities. the second area of focus is enhancing our artificial intelligence capabilities We've experienced meaningful efficiencies over the last year from deploying AI within our operations, sales, product, and customer success groups. we've experienced meaningful efficiencies over the last year from deploying ai within our operations sales product and customer success groups For example, we've embedded AI across our sales forecasting, customer success, and support functions, driving improved forecasting accuracy, earlier risk detection, and scalable, cost-efficient customer engagement. In our product organization, the team has deployed AI tools for maintenance code generation, bulk update processing, and model context protocol server projects. We will continue to accelerate delivery of AI and automation-driven solutions across the entire organization and have established a governance process around it. Our strategic reinvestment plan will help expand our capabilities by accelerating investments in AI to further enhance the customer experience. We believe these initiatives will help drive long-term growth, improve operational efficiency, and enhance shareholder value. Recent AI innovations, along with enhanced automation, compliance, and identity management capabilities, were showcased during our global customer event series, Jamf Nation Live, across seven cities in Europe and the U.S. For example, we've embedded AI across our sales forecasting, customer success, and support functions, driving improved forecasting accuracy, earlier risk detection, and scalable, cost-efficient customer engagement. for example we've embedded ai across our sales forecasting customer success and support functions driving improved forecasting accuracy earlier risk detection and scalable cost-efficient customer engagement In our product organization, the team has deployed AI tools for maintenance code generation, bulk update processing, and model context protocol server projects. in our product organization the team has deployed ai tools for maintenance code generation bulk update processing and model context protocol server projects We will continue to accelerate delivery of AI and automation-driven solutions across the entire organization and have established a governance process around it. we will continue to accelerate delivery of ai and automation-driven solutions across the entire organization and have established a governance process around it Our strategic reinvestment plan will help expand our capabilities by accelerating investments in AI to further enhance the customer experience. our strategic reinvestment plan will help expand our capabilities by accelerating investments in ai to further enhance the customer experience We believe these initiatives will help drive long-term growth, improve operational efficiency, and enhance shareholder value. we believe these initiatives will help drive long-term growth improve operational efficiency and enhance shareholder value Recent AI innovations, along with enhanced automation, compliance, and identity management capabilities, were showcased during our global customer event series, Jamf Nation Live, across seven cities in Europe and the U.S. recent ai innovations along with enhanced automation compliance and identity management capabilities were showcased during our global customer event series jamf nation live across seven cities in europe and the u.s For AI, we featured new capabilities to enhance IT experiences, simplify operations, and improve efficiency. Jamf AI Assistant empowers IT administrators with intelligent, action-oriented capabilities designed to enhance productivity and support better decision-making. We introduced two new capabilities within AI Assistant: Search Skill and Explain Skill, now available in beta for testing. The Search Skill allows IT admins to perform quick, natural language inventory queries, making it faster and easier to identify devices that meet specific criteria, accelerating tasks like troubleshooting, compliance auditing, and fleet management. The Explain Skill simplifies the complexity of mobile device management by translating intricate configurations and policies into clear, easy-to-understand language, helping admins make informed decisions, streamline troubleshooting, and manage policies with greater confidence. The platform remains read-only with opt-in activation, ensuring customer controls and security compliance. The Jamf Nation Live series will continue in the upcoming months with events in Asia-Pacific. For AI, we featured new capabilities to enhance IT experiences, simplify operations, and improve efficiency. for ai we featured new capabilities to enhance it experiences simplify operations and improve efficiency Jamf AI Assistant empowers IT administrators with intelligent, action-oriented capabilities designed to enhance productivity and support better decision-making. jamf ai assistant empowers it administrators with intelligent action-oriented capabilities designed to enhance productivity and support better decision-making We introduced two new capabilities within AI Assistant: Search Skill and Explain Skill, now available in beta for testing. we introduced two new capabilities within ai assistant search skill and explain skill now available in beta for testing The Search Skill allows IT admins to perform quick, natural language inventory queries, making it faster and easier to identify devices that meet specific criteria, accelerating tasks like troubleshooting, compliance auditing, and fleet management. the search skill allows it admins to perform quick natural language inventory queries making it faster and easier to identify devices that meet specific criteria accelerating tasks like troubleshooting compliance auditing and fleet management The Explain Skill simplifies the complexity of mobile device management by translating intricate configurations and policies into clear, easy-to-understand language, helping admins make informed decisions, streamline troubleshooting, and manage policies with greater confidence. the explain skill simplifies the complexity of mobile device management by translating intricate configurations and policies into clear easy-to-understand language helping admins make informed decisions streamline troubleshooting and manage policies with greater confidence The platform remains read-only with opt-in activation, ensuring customer controls and security compliance. the platform remains read-only with opt-in activation ensuring customer controls and security compliance The Jamf Nation Live series will continue in the upcoming months with events in Asia-Pacific. the jamf nation live series will continue in the upcoming months with events in asia-pacific There is more to come during our Jamf Nation User Conference, October 7th through 9th in Denver. We hope you'll all join us for three days of the best of Apple management and security. Jenn will be reaching out to all of you with invitations shortly. Now I'll turn it over to David to review our Q2 results and provide our Q3 and full-year 2025 outlook. There is more to come during our Jamf Nation User Conference, October 7th through 9th in Denver. there is more to come during our jamf nation user conference october 7th through 9th in denver We hope you'll all join us for three days of the best of Apple management and security. we hope you'll all join us for three days of the best of apple management and security Jenn will be reaching out to all of you with invitations shortly. jenn will be reaching out to all of you with invitations shortly Now I'll turn it over to David to review our Q2 results and provide our Q3 and full-year 2025 outlook. now i'll turn it over to david to review our q2 results and provide our q3 and full-year 2025 outlook

Speaker 1: Thanks, John. As a reminder, all non-revenue metrics I'll be discussing will be on a non-GAAP basis. We achieved strong results in Q2, exceeding the high end of both our revenue and non-GAAP operating income outlook. Year-over-year total revenue growth was 15% to $176.5 million, exceeding the high end of our guidance range by $7 million. This performance was primarily due to the timing of certain revenues that were recognized in the second quarter and solid results from Identity Automation. As a reminder, we closed the acquisition on April 1st, so Q2 reflects a full quarter of Identity Automation results, which were better than expected. Total ARR grew 14% year-over-year to $710 million. Security bookings were strong, driving 40% year-over-year growth and security ARR to $203 million. This was driven by both the inclusion of Identity Automation into our results and the launch of our platform solutions. Thanks, John. thanks john As a reminder, all non-revenue metrics I'll be discussing will be on a non-GAAP basis. as a reminder all non-revenue metrics i'll be discussing will be on a non-gaap basis We achieved strong results in Q2, exceeding the high end of both our revenue and non-GAAP operating income outlook. we achieved strong results in q2 exceeding the high end of both our revenue and non-gaap operating income outlook Year-over-year total revenue growth was 15% to $176.5 million, exceeding the high end of our guidance range by $7 million. year-over-year total revenue growth was 15% to $176.5 million exceeding the high end of our guidance range by $7 million This performance was primarily due to the timing of certain revenues that were recognized in the second quarter and solid results from Identity Automation. this performance was primarily due to the timing of certain revenues that were recognized in the second quarter and solid results from identity automation As a reminder, we closed the acquisition on April 1st, so Q2 reflects a full quarter of Identity Automation results, which were better than expected. as a reminder we closed the acquisition on april 1st so q2 reflects a full quarter of identity automation results which were better than expected Total ARR grew 14% year-over-year to $710 million. total arr grew 14% year-over-year to $710 million Security bookings were strong, driving 40% year-over-year growth and security ARR to $203 million. security bookings were strong driving 40% year-over-year growth and security arr to $203 million This was driven by both the inclusion of Identity Automation into our results and the launch of our platform solutions. this was driven by both the inclusion of identity automation into our results and the launch of our platform solutions Additionally, net new commercial ARR saw year-over-year growth. After viewing the increasing level of local currency billings that are made possible due to our system update last year, we are moving to a quarterly FX adjustment to ARR from our previous annual timing. This change will allow for better comparability with our revenue, RPO, and operating income, and will also result in a more moderate quarterly impact than waiting until Q1 to post the annual adjustment. The adjustment in Q2 for the first half was a less than 1% impact to total ARR balance. Recurring revenue grew 16% and represented 98% of total revenues. We saw significant growth acceleration in RPO, with total RPO growing over 20% and long-term RPO growing nearly 40%. Additionally, net new commercial ARR saw year-over-year growth. additionally net new commercial arr saw year-over-year growth After viewing the increasing level of local currency billings that are made possible due to our system update last year, we are moving to a quarterly FX adjustment to ARR from our previous annual timing. after viewing the increasing level of local currency billings that are made possible due to our system update last year we are moving to a quarterly fx adjustment to arr from our previous annual timing This change will allow for better comparability with our revenue, RPO, and operating income, and will also result in a more moderate quarterly impact than waiting until Q1 to post the annual adjustment. this change will allow for better comparability with our revenue rpo and operating income and will also result in a more moderate quarterly impact than waiting until q1 to post the annual adjustment The adjustment in Q2 for the first half was a less than 1% impact to total ARR balance. the adjustment in q2 for the first half was a less than 1% impact to total arr balance Recurring revenue grew 16% and represented 98% of total revenues. recurring revenue grew 16% and represented 98% of total revenues We saw significant growth acceleration in RPO, with total RPO growing over 20% and long-term RPO growing nearly 40%. we saw significant growth acceleration in rpo with total rpo growing over 20% and long-term rpo growing nearly 40% Excluding Identity Automation, we saw total RPO growth of nearly 15% and long-term growth of approximately 28%, showing the increasing level of commitment from customers as they continue to expand both the size and length of their Jamf contracts. Trailing 12-month net retention rate remained relatively flat to Q1 at 103%, and gross retention rates remained consistent with historical levels. Non-GAAP operating income was $33.5 million, or a 19% margin, a 360 basis point improvement over Q2 2024. Sales and marketing as a percent of total revenue improved approximately 300 basis points compared to the prior year period, and G&A improved approximately 150 basis points. We remain committed to improving efficiencies across our business. Q2 adjusted EBITDA grew 40% to $35.3 million, representing a 20% margin. Trailing 12-month unlevered free cash flow surpassed $100 million for the first time, growing 24% to $102.9 million. Excluding Identity Automation, we saw total RPO growth of nearly 15% and long-term growth of approximately 28%, showing the increasing level of commitment from customers as they continue to expand both the size and length of their Jamf contracts. excluding identity automation we saw total rpo growth of nearly 15% and long-term growth of approximately 28% showing the increasing level of commitment from customers as they continue to expand both the size and length of their jamf contracts Trailing 12-month net retention rate remained relatively flat to Q1 at 103%, and gross retention rates remained consistent with historical levels. trailing 12-month net retention rate remained relatively flat to q1 at 103% and gross retention rates remained consistent with historical levels Non-GAAP operating income was $33.5 million, or a 19% margin, a 360 basis point improvement over Q2 2024. non-gaap operating income was $33.5 million or a 19% margin a 360 basis point improvement over q2 2024 Sales and marketing as a percent of total revenue improved approximately 300 basis points compared to the prior year period, and G&A improved approximately 150 basis points. sales and marketing as a percent of total revenue improved approximately 300 basis points compared to the prior year period and g&a improved approximately 150 basis points We remain committed to improving efficiencies across our business. we remain committed to improving efficiencies across our business Q2 adjusted EBITDA grew 40% to $35.3 million, representing a 20% margin. q2 adjusted ebitda grew 40% to $35.3 million representing a 20% margin Trailing 12-month unlevered free cash flow surpassed $100 million for the first time, growing 24% to $102.9 million. trailing 12-month unlevered free cash flow surpassed $100 million for the first time growing 24% to $102.9 million This represents a 15.4% margin compared to a 13.8% margin in the prior year. We made good progress on collections from billings that were delayed due to our comprehensive systems update last year and still expect DSOs to return to normal levels over the next few quarters. From a cash perspective, we ended Q2 with $482 million compared to $222 million at the end of Q1. This increase in cash was driven primarily by the $400 million term loan facility we entered into in May, partially offset by the $175 million payment associated with the close of the Identity Automation acquisition on April 1st. This term loan facility was entered into under the same terms as our revolving credit facility. This represents a 15.4% margin compared to a 13.8% margin in the prior year. this represents a 15.4% margin compared to a 13.8% margin in the prior year We made good progress on collections from billings that were delayed due to our comprehensive systems update last year and still expect DSOs to return to normal levels over the next few quarters. we made good progress on collections from billings that were delayed due to our comprehensive systems update last year and still expect dsos to return to normal levels over the next few quarters From a cash perspective, we ended Q2 with $482 million compared to $222 million at the end of Q1. from a cash perspective we ended q2 with $482 million compared to $222 million at the end of q1 This increase in cash was driven primarily by the $400 million term loan facility we entered into in May, partially offset by the $175 million payment associated with the close of the Identity Automation acquisition on April 1st. this increase in cash was driven primarily by the $400 million term loan facility we entered into in may partially offset by the $175 million payment associated with the close of the identity automation acquisition on april 1st This term loan facility was entered into under the same terms as our revolving credit facility. this term loan facility was entered into under the same terms as our revolving credit facility We intend to use the proceeds to finance the $40 million deferred payment for the Identity Automation acquisition, to repurchase a portion of our convertible senior notes due 2026, and for general corporate purposes. Turning to our outlook for the third quarter and full year 2025, we remain committed to being a profitable growth company and will continue improving efficiencies and strategically investing for growth. This outlook reflects our belief in creating an achievable model and is reflective of the recently announced strategic reinvestment plan and the current market conditions. For the third quarter 2025, we expect total revenue of $176 to $178 million, representing year-over-year growth of 11% at the midpoint. Non-GAAP operating income of $41.5 to $42.5 million, representing a non-GAAP operating margin of 24% and growth of 52% at the midpoint. For the full year 2025, we're raising our outlook. We intend to use the proceeds to finance the $40 million deferred payment for the Identity Automation acquisition, to repurchase a portion of our convertible senior notes due 2026, and for general corporate purposes. we intend to use the proceeds to finance the $40 million deferred payment for the identity automation acquisition to repurchase a portion of our convertible senior notes due 2026 and for general corporate purposes Turning to our outlook for the third quarter and full year 2025, we remain committed to being a profitable growth company and will continue improving efficiencies and strategically investing for growth. turning to our outlook for the third quarter and full year 2025 we remain committed to being a profitable growth company and will continue improving efficiencies and strategically investing for growth This outlook reflects our belief in creating an achievable model and is reflective of the recently announced strategic reinvestment plan and the current market conditions. this outlook reflects our belief in creating an achievable model and is reflective of the recently announced strategic reinvestment plan and the current market conditions For the third quarter 2025, we expect total revenue of $176 to $178 million, representing year-over-year growth of 11% at the midpoint. for the third quarter 2025 we expect total revenue of $176 to $178 million representing year-over-year growth of 11% at the midpoint Non-GAAP operating income of $41.5 to $42.5 million, representing a non-GAAP operating margin of 24% and growth of 52% at the midpoint. non-gaap operating income of $41.5 to $42.5 million representing a non-gaap operating margin of 24% and growth of 52% at the midpoint For the full year 2025, we're raising our outlook. for the full year 2025 we're raising our outlook We now expect total revenue of $701 to $704 million, representing year-over-year growth of 12% at the midpoint and an increase of $9.5 million from our prior outlook. Non-GAAP operating income of $153.5 to $155.5 million, representing a non-GAAP operating margin of 22% at the midpoint and approximately 600 basis point improvement over fiscal year 2024. This also reflects an $8.5 million increase from our prior outlook and year-over-year growth of 50%. Additionally, given our strong margin profile, we continue to expect to generate unlevered free cash flow growth of at least 75% for the year. In closing, we remain committed to growth while driving incremental operating margin improvement. Our objective is to exit fiscal 2026 at a rule of 40 run rate, as defined as the sum of the year-over-year revenue growth plus adjusted EBITDA margin. We now expect total revenue of $701 to $704 million, representing year-over-year growth of 12% at the midpoint and an increase of $9.5 million from our prior outlook. we now expect total revenue of $701 to $704 million representing year-over-year growth of 12% at the midpoint and an increase of $9.5 million from our prior outlook Non-GAAP operating income of $153.5 to $155.5 million, representing a non-GAAP operating margin of 22% at the midpoint and approximately 600 basis point improvement over fiscal year 2024. non-gaap operating income of $153.5 to $155.5 million representing a non-gaap operating margin of 22% at the midpoint and approximately 600 basis point improvement over fiscal year 2024 This also reflects an $8.5 million increase from our prior outlook and year-over-year growth of 50%. this also reflects an $8.5 million increase from our prior outlook and year-over-year growth of 50% Additionally, given our strong margin profile, we continue to expect to generate unlevered free cash flow growth of at least 75% for the year. additionally given our strong margin profile we continue to expect to generate unlevered free cash flow growth of at least 75% for the year In closing, we remain committed to growth while driving incremental operating margin improvement. in closing we remain committed to growth while driving incremental operating margin improvement Our objective is to exit fiscal 2026 at a rule of 40 run rate, as defined as the sum of the year-over-year revenue growth plus adjusted EBITDA margin. our objective is to exit fiscal 2026 at a rule of 40 run rate as defined as the sum of the year-over-year revenue growth plus adjusted ebitda margin I want to thank all our hardworking and dedicated employees for their continued excellent execution. Now we will take your questions. Operator? I want to thank all our hardworking and dedicated employees for their continued excellent execution. i want to thank all our hardworking and dedicated employees for their continued excellent execution Now we will take your questions. now we will take your questions Operator? operator

Speaker 5: Thank you. We will now begin the question and answer session. If you'd like to ask a question, please raise your hand now. If you have dialed into today's call, please press star nine to raise your hand and star six to unmute. Please stand by while we compile the Q&A roster. Your first question comes from the line of Raimo Lenschow with Barclays. Your line is open. Please go ahead. Thank you. thank you We will now begin the question and answer session. we will now begin the question and answer session If you'd like to ask a question, please raise your hand now. if you'd like to ask a question please raise your hand now If you have dialed into today's call, please press star nine to raise your hand and star six to unmute. if you have dialed into today's call please press star nine to raise your hand and star six to unmute Please stand by while we compile the Q&A roster. please stand by while we compile the q&a roster Your first question comes from the line of Raimo Lenschow with Barclays. your first question comes from the line of raimo lenschow with barclays Your line is open. your line is open Please go ahead. please go ahead

Speaker 8: Perfect. Thank you. Can you hear me OK? Perfect. perfect Thank you. thank you Can you hear me OK? can you hear me ok

Speaker 2: Yes, we can. Yes, we can. yes we can

Speaker 8: Perfect. Thank you. Quick question, the decision to support the broader ecosystem now is obviously very interesting. How quickly do you think that will drive results now that you do Android in terms of opening up a new sales, new momentum around sales pitches, etc? Perfect. perfect Thank you. thank you Quick question, the decision to support the broader ecosystem now is obviously very interesting. quick question the decision to support the broader ecosystem now is obviously very interesting How quickly do you think that will drive results now that you do Android in terms of opening up a new sales, new momentum around sales pitches, etc ? how quickly do you think that will drive results now that you do android in terms of opening up a new sales new momentum around sales pitches etc

Speaker 4: Yeah. Hey, Raimo. It's John here. I'll take the question. You know, really, we developed this because at the behest of our customers, like we do with most things like security and others. It's really there have been mobile installments where a portion of that has been on the Android side, and the majority of it has been on the iOS side. They've asked us, hey, we want to use your security products. Is there a way that we can enroll these Android devices so that we can roll that out? That's really the reason behind this. Not only because they've been requesting it, we've had some pretty good traction on that so far. We've gone back to those same customers and said, OK, now we can do this as of July 1st. We've had a lot of interest in it and some really good uptake. Yeah. yeah Hey, Raimo. hey raimo It's John here. it's john here I'll take the question. i'll take the question You know, really, we developed this because at the behest of our customers, like we do with most things like security and others. you know really we developed this because at the behest of our customers like we do with most things like security and others It's really there have been mobile installments where a portion of that has been on the Android side, and the majority of it has been on the iOS side. it's really there have been mobile installments where a portion of that has been on the android side and the majority of it has been on the ios side They've asked us, hey, we want to use your security products. they've asked us hey we want to use your security products Is there a way that we can enroll these Android devices so that we can roll that out? is there a way that we can enroll these android devices so that we can roll that out That's really the reason behind this. that's really the reason behind this Not only because they've been requesting it, we've had some pretty good traction on that so far. not only because they've been requesting it we've had some pretty good traction on that so far We've gone back to those same customers and said, OK, now we can do this as of July 1st. we've gone back to those same customers and said ok now we can do this as of july 1st We've had a lot of interest in it and some really good uptake. we've had a lot of interest in it and some really good uptake

Speaker 8: OK, perfect. One question for David. Like Identity Automation, you said it's going better. How much of revenue are we talking about now, that you think Q2, and as it's now part of the bigger group, how should we think about the contribution effort the rest of the year? OK, perfect. ok perfect One question for David. one question for david Like Identity Automation, you said it's going better. like identity automation you said it's going better How much of revenue are we talking about now, that you think Q2, and as it's now part of the bigger group, how should we think about the contribution effort the rest of the year? how much of revenue are we talking about now that you think q2 and as it's now part of the bigger group how should we think about the contribution effort the rest of the year

Speaker 1: Yeah, we've integrated that into the education business. The CEO of Identity Automation is actually now running the entire education group. All the salespeople within education now have Identity Automation in their bag to sell, which is great. We've seen good traction with that. We've had a couple of cross-sells, which is really good, and the pipeline is building around that. We talked about the upside in the quarter. Half of that was generated from Identity Automation, partially because we built a conservative model. It's a new acquisition. We had to get a good understanding of the business. They also did outperform our expectations in the quarter. The other half is Jamf-related, improved performance out of Jamf. We also had some partner-related business that were signed in Q1, but we recognized revenues in Q2. That was the other reason for that upside in the quarter. Yeah, we've integrated that into the education business. yeah we've integrated that into the education business The CEO of Identity Automation is actually now running the entire education group. the ceo of identity automation is actually now running the entire education group All the salespeople within education now have Identity Automation in their bag to sell, which is great. all the salespeople within education now have identity automation in their bag to sell which is great We've seen good traction with that. we've seen good traction with that We've had a couple of cross-sells, which is really good, and the pipeline is building around that. we've had a couple of cross-sells which is really good and the pipeline is building around that We talked about the upside in the quarter. we talked about the upside in the quarter Half of that was generated from Identity Automation, partially because we built a conservative model. half of that was generated from identity automation partially because we built a conservative model It's a new acquisition. it's a new acquisition We had to get a good understanding of the business. we had to get a good understanding of the business They also did outperform our expectations in the quarter. they also did outperform our expectations in the quarter The other half is Jamf-related, improved performance out of Jamf. the other half is jamf-related improved performance out of jamf We also had some partner-related business that were signed in Q1, but we recognized revenues in Q2. we also had some partner-related business that were signed in q1 but we recognized revenues in q2 That was the other reason for that upside in the quarter. that was the other reason for that upside in the quarter

Speaker 8: OK, perfect. Thank you. Congrats. OK, perfect. ok perfect Thank you. thank you Congrats. congrats

Speaker 5: Thank you. Your next question comes from the line of Samik Chatterjee with JPMorgan. Your line is now open. Please go ahead. Thank you. thank you Your next question comes from the line of Samik Chatterjee with JPMorgan. your next question comes from the line of samik chatterjee with jpmorgan Your line is now open. your line is now open Please go ahead. please go ahead

Speaker 7: Hi. Thanks for taking my question here. Maybe just starting with the strategic sort of action plan that you took relative to resource allocation. I know it's sort of moving resources around to better align for growth. Since you're sort of reiterating your plan to exit fiscal 2026 with the rule of 40, just curious if as you've taken a closer look at your cost profile, has your view changed in terms of how to meet the rule of 40 when you exit fiscal 2026, more in relation to your 25% operating margin target that you have for that time period? I have a follow-up. Thank you. Hi. hi Thanks for taking my question here. thanks for taking my question here Maybe just starting with the strategic sort of action plan that you took relative to resource allocation. maybe just starting with the strategic sort of action plan that you took relative to resource allocation I know it's sort of moving resources around to better align for growth. i know it's sort of moving resources around to better align for growth Since you're sort of reiterating your plan to exit fiscal 2026 with the rule of 40, just curious if as you've taken a closer look at your cost profile, has your view changed in terms of how to meet the rule of 40 when you exit fiscal 2026, more in relation to your 25% operating margin target that you have for that time period? since you're sort of reiterating your plan to exit fiscal 2026 with the rule of 40 just curious if as you've taken a closer look at your cost profile has your view changed in terms of how to meet the rule of 40 when you exit fiscal 2026 more in relation to your 25% operating margin target that you have for that time period I have a follow-up. i have a follow-up Thank you. thank you

Speaker 1: Yeah, so our strategic reinvestment plan that we put in place was really around kind of moving around resources to further support areas of growth of the business. What we found through our new data that we can review and analyze from the system update is that I think there's ways that we can further improve efficiencies in the small business side. Still a very important channel for us. We're going to make investments in the channel. We will also invest in automation and AI. In turn, we will also expand our enterprise sales and support team as well. The channel will see investments around the world too, because we've seen very good traction. We're still targeting a rule of 40 exiting 2026. There's no change there. There will be some cost savings, but really the efforts around this were to strategically realign the business to accelerate growth. Yeah, so our strategic reinvestment plan that we put in place was really around kind of moving around resources to further support areas of growth of the business. yeah so our strategic reinvestment plan that we put in place was really around kind of moving around resources to further support areas of growth of the business What we found through our new data that we can review and analyze from the system update is that I think there's ways that we can further improve efficiencies in the small business side. what we found through our new data that we can review and analyze from the system update is that i think there's ways that we can further improve efficiencies in the small business side Still a very important channel for us. still a very important channel for us We're going to make investments in the channel. we're going to make investments in the channel We will also invest in automation and AI. we will also invest in automation and ai In turn, we will also expand our enterprise sales and support team as well. in turn we will also expand our enterprise sales and support team as well The channel will see investments around the world too, because we've seen very good traction. the channel will see investments around the world too because we've seen very good traction We're still targeting a rule of 40 exiting 2026. we're still targeting a rule of 40 exiting 2026 There's no change there. there's no change there There will be some cost savings, but really the efforts around this were to strategically realign the business to accelerate growth. there will be some cost savings but really the efforts around this were to strategically realign the business to accelerate growth

Speaker 7: OK. Got it. Maybe just turning back to sort of the near-term drivers here, in relation to the fiscal 3Q guide, you did mention this is sort of a less than normal seasonality from 2Q that you're guiding to, from what I can see relative to the last couple of years. I think some of this is probably what you mentioned in terms of timing of revenue recognition in Q2. Maybe if you can just talk and help us sort of think through why this might be more closer to normal seasonality or what the magnitude of those timing impacts on Q2 were, or are you seeing anything different from normal seasonality in relation to your Q3 guide? OK. ok Got it. got it Maybe just turning back to sort of the near-term drivers here, in relation to the fiscal 3Q guide, you did mention this is sort of a less than normal seasonality from 2Q that you're guiding to, from what I can see relative to the last couple of years. maybe just turning back to sort of the near-term drivers here in relation to the fiscal 3q guide you did mention this is sort of a less than normal seasonality from 2q that you're guiding to from what i can see relative to the last couple of years I think some of this is probably what you mentioned in terms of timing of revenue recognition in Q2. i think some of this is probably what you mentioned in terms of timing of revenue recognition in q2 Maybe if you can just talk and help us sort of think through why this might be more closer to normal seasonality or what the magnitude of those timing impacts on Q2 were, or are you seeing anything different from normal seasonality in relation to your Q3 guide? maybe if you can just talk and help us sort of think through why this might be more closer to normal seasonality or what the magnitude of those timing impacts on q2 were or are you seeing anything different from normal seasonality in relation to your q3 guide

Speaker 1: Yeah, no, I think if you remove those one-time revenue numbers from Q2, it would be more seasonal. It would be kind of a more seasonal ramp into Q3. We have Identity Automation, you know, it is a heavy season for them on the education side in Q3. We expect to see a little bit better improvement there, Identity Automation. In Q4 on Identity Automation, they will have a little bit lighter sequentially down revenue number for Q4 as well. Yeah, no, I think if you remove those one-time revenue numbers from Q2, it would be more seasonal. yeah no i think if you remove those one-time revenue numbers from q2 it would be more seasonal It would be kind of a more seasonal ramp into Q3. it would be kind of a more seasonal ramp into q3 We have Identity Automation, you know, it is a heavy season for them on the education side in Q3. we have identity automation you know it is a heavy season for them on the education side in q3 We expect to see a little bit better improvement there, Identity Automation. we expect to see a little bit better improvement there identity automation In Q4 on Identity Automation, they will have a little bit lighter sequentially down revenue number for Q4 as well. in q4 on identity automation they will have a little bit lighter sequentially down revenue number for q4 as well

Speaker 7: OK. Got it. Great. Thank you. Thanks for taking my questions. OK. ok Got it. got it Great. great Thank you. thank you Thanks for taking my questions. thanks for taking my questions

Speaker 5: Thank you. Next question comes from the line of Jake Roberge with William Blair. Your line is open. Please go ahead. Thank you. thank you Next question comes from the line of Jake Roberge with William Blair. next question comes from the line of jake roberge with william blair Your line is open. your line is open Please go ahead. please go ahead

Speaker 3: Hello. Can you hear me? Hello. hello Can you hear me? can you hear me

Speaker 1: We can hear you. We can hear you. we can hear you

Speaker 2: Yep, we can hear you. Yep, we can hear you. yep we can hear you

Speaker 3: Thanks. Hi. This is Jacob Zerbib for Jake Roberge and thank you for taking my question. You talked a little bit about how you're increasing go-to-market efficiency. I just wanted to touch on your partner network. Can you talk a little bit about how progress with partners in the United States is going? Do you think this channel could eventually drive similar revenues to your international channel? Thank you. Thanks. thanks Hi. hi This is Jacob Zerbib for Jake Roberge and thank you for taking my question. this is jacob zerbib for jake roberge and thank you for taking my question You talked a little bit about how you're increasing go-to-market efficiency. you talked a little bit about how you're increasing go-to-market efficiency I just wanted to touch on your partner network. i just wanted to touch on your partner network Can you talk a little bit about how progress with partners in the United States is going? can you talk a little bit about how progress with partners in the united states is going Do you think this channel could eventually drive similar revenues to your international channel? do you think this channel could eventually drive similar revenues to your international channel Thank you. thank you

Speaker 4: Yeah, Jake, I'll take the question here. It's John. We've really been leaning into the channel, specifically domestically. We have a majority of our business, as you mentioned, outside the U.S. already goes through the channel because we started with channel first. In the U.S. here, really leaning into the channel. Part of this technical upgrade or systems upgrade that we've been working on not only gave us visibility into the company to show us where we can invest and where our growth is and things where we can really accelerate that growth, but it's also on the channel capability side. Yeah, Jake, I'll take the question here. yeah jake i'll take the question here It's John. it's john We've really been leaning into the channel, specifically domestically. we've really been leaning into the channel specifically domestically We have a majority of our business, as you mentioned, outside the U.S. already goes through the channel because we started with channel first. we have a majority of our business as you mentioned outside the u.s already goes through the channel because we started with channel first In the U.S. here, really leaning into the channel. in the u.s here really leaning into the channel Part of this technical upgrade or systems upgrade that we've been working on not only gave us visibility into the company to show us where we can invest and where our growth is and things where we can really accelerate that growth, but it's also on the channel capability side. part of this technical upgrade or systems upgrade that we've been working on not only gave us visibility into the company to show us where we can invest and where our growth is and things where we can really accelerate that growth but it's also on the channel capability side Now the fact that we have a channel partner portal that they can come in and register their own deals and create their own quotes without involving a salesperson at Jamf, a lot of the efficiencies that they get in addition to the new partner program that we've rolled out that gives higher incentives for deal registration and really helping us build the top of the funnel, being channel first. Now over 2/3 of our business coming from the channel globally, again, 80% of that coming from outside the U.S. and increasing pretty rapidly inside the U.S. To answer your question, yes, we believe we can get to those levels worldwide that we have internationally. We're continuing to do that to help leverage the growth, especially as it relates to some of our smaller customers or mid-market customers. Now the fact that we have a channel partner portal that they can come in and register their own deals and create their own quotes without involving a salesperson at Jamf, a lot of the efficiencies that they get in addition to the new partner program that we've rolled out that gives higher incentives for deal registration and really helping us build the top of the funnel, being channel first. now the fact that we have a channel partner portal that they can come in and register their own deals and create their own quotes without involving a salesperson at jamf a lot of the efficiencies that they get in addition to the new partner program that we've rolled out that gives higher incentives for deal registration and really helping us build the top of the funnel being channel first Now over 2/3 of our business coming from the channel globally, again, 80% of that coming from outside the U.S. and increasing pretty rapidly inside the U.S. now over 2/3 of our business coming from the channel globally again 80% of that coming from outside the u.s and increasing pretty rapidly inside the u.s To answer your question, yes, we believe we can get to those levels worldwide that we have internationally. to answer your question yes we believe we can get to those levels worldwide that we have internationally We're continuing to do that to help leverage the growth, especially as it relates to some of our smaller customers or mid-market customers. we're continuing to do that to help leverage the growth especially as it relates to some of our smaller customers or mid-market customers

Speaker 3: Got it. Thank you. I just wanted to ask about security. You've done a really good job with management and also in the education sector in the international market. Can you talk a little bit about demand for your security solutions there? Thank you. Got it. got it Thank you. thank you I just wanted to ask about security. i just wanted to ask about security You've done a really good job with management and also in the education sector in the international market. you've done a really good job with management and also in the education sector in the international market Can you talk a little bit about demand for your security solutions there? can you talk a little bit about demand for your security solutions there Thank you. thank you

Speaker 4: Yeah, I can take that question as well. This is John. As I mentioned earlier in Raimo's question, this was something that we had done at the behest of our customers. We continue to see increased demand for our security products. You can't have a secure device without having management and security together on that. We've seen it in the results that we've had this quarter as well with substantial growth in the security. We continue to see our customers leaning into that, especially as it relates to mobile. That's been one of our fastest growing types of business. We see that across our retail customers, across our transportation customers, professional services, even into manufacturing, all of those areas where the security, those businesses that are working that deskless workflow understand that those endpoints need to be both managed and secured. Yeah, I can take that question as well. yeah i can take that question as well This is John. this is john As I mentioned earlier in Raimo's question, this was something that we had done at the behest of our customers. as i mentioned earlier in raimo's question this was something that we had done at the behest of our customers We continue to see increased demand for our security products. we continue to see increased demand for our security products You can't have a secure device without having management and security together on that. you can't have a secure device without having management and security together on that We've seen it in the results that we've had this quarter as well with substantial growth in the security. we've seen it in the results that we've had this quarter as well with substantial growth in the security We continue to see our customers leaning into that, especially as it relates to mobile. we continue to see our customers leaning into that especially as it relates to mobile That's been one of our fastest growing types of business. that's been one of our fastest growing types of business We see that across our retail customers, across our transportation customers, professional services, even into manufacturing, all of those areas where the security, those businesses that are working that deskless workflow understand that those endpoints need to be both managed and secured. we see that across our retail customers across our transportation customers professional services even into manufacturing all of those areas where the security those businesses that are working that deskless workflow understand that those endpoints need to be both managed and secured That's where we're getting a lot of good traction there as well. That's where we're getting a lot of good traction there as well. that's where we're getting a lot of good traction there as well

Speaker 3: Got it. Thank you for taking my question. Got it. got it Thank you for taking my question. thank you for taking my question

Speaker 5: Thank you. Your next question comes from the line of Patrick Walravens with Citizens Bank. Your line is open. Please go ahead. Thank you. thank you Your next question comes from the line of Patrick Walravens with Citizens Bank. your next question comes from the line of patrick walravens with citizens bank Your line is open. your line is open Please go ahead. please go ahead

Speaker 6: Hi, team. This is Kincaid on for Pat. You know, super excited to hear about this go-to-market shift. I was wondering if you could highlight any specific changes in rep quotas or what you're trying to push people to sell through that. Hi, team. hi team This is Kincaid on for Pat. this is kincaid on for pat You know, super excited to hear about this go-to-market shift. you know super excited to hear about this go-to-market shift I was wondering if you could highlight any specific changes in rep quotas or what you're trying to push people to sell through that. i was wondering if you could highlight any specific changes in rep quotas or what you're trying to push people to sell through that

Speaker 4: Yeah, I can take that. Kincaid, this is John. As we look at what we're pushing the reps to sell, I guess, is the platform solutions that we have. It really blends management and security, whether it's a different persona, a customer buying for the Mac, or a customer buying for the mobile. Those solutions really oriented toward that persona have done really well. As we look at focusing our go-to-market efforts, we, as David mentioned, the small to medium-sized customer base is significant for us. We're going to continue to support that in a way that those customers want to be supported and also to lean more into the enterprise. As we invest in some of our sales resources and go-to-market resources on the enterprise side, really, we see a lot of growth there and very low churn. Our LTV to CAC is very good in that area. Yeah, I can take that. yeah i can take that Kincaid, this is John. kincaid this is john As we look at what we're pushing the reps to sell, I guess, is the platform solutions that we have. as we look at what we're pushing the reps to sell i guess is the platform solutions that we have It really blends management and security, whether it's a different persona, a customer buying for the Mac, or a customer buying for the mobile. it really blends management and security whether it's a different persona a customer buying for the mac or a customer buying for the mobile Those solutions really oriented toward that persona have done really well. those solutions really oriented toward that persona have done really well As we look at focusing our go-to-market efforts, we, as David mentioned, the small to medium-sized customer base is significant for us. as we look at focusing our go-to-market efforts we as david mentioned the small to medium-sized customer base is significant for us We're going to continue to support that in a way that those customers want to be supported and also to lean more into the enterprise. we're going to continue to support that in a way that those customers want to be supported and also to lean more into the enterprise As we invest in some of our sales resources and go-to-market resources on the enterprise side, really, we see a lot of growth there and very low churn. as we invest in some of our sales resources and go-to-market resources on the enterprise side really we see a lot of growth there and very low churn Our LTV to CAC is very good in that area. our ltv to cac is very good in that area We're going to continue to lean into it to exercise that muscle and generate accelerated growth. We're going to continue to lean into it to exercise that muscle and generate accelerated growth. we're going to continue to lean into it to exercise that muscle and generate accelerated growth

Speaker 6: Spectacular. Thank you so much. Spectacular. spectacular Thank you so much. thank you so much

Speaker 5: OK. There are no further questions at this time. I will turn the call back over to John Strosahl for closing remarks. OK. ok There are no further questions at this time. there are no further questions at this time I will turn the call back over to John Strosahl for closing remarks. i will turn the call back over to john strosahl for closing remarks

Speaker 4: Thank you, everyone, for your time today. We hope to see some of you at the upcoming conferences and our annual user conference JNUC, which is early October. Have a great evening. Thank you, everyone, for your time today. thank you everyone for your time today We hope to see some of you at the upcoming conferences and our annual user conference JNUC, which is early October. we hope to see some of you at the upcoming conferences and our annual user conference jnuc which is early october Have a great evening. have a great evening

Speaker 5: Thank you. This concludes today's call. Thank you for attending. You may now disconnect. Thank you. thank you This concludes today's call. this concludes today's call Thank you for attending. thank you for attending You may now disconnect. you may now disconnect