In This Article:
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Q4 Revenue Growth: 8% year-over-year.
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Full Year Revenue Growth: 12% year-over-year.
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Non-GAAP Operating Income Margin (Q4): 18%.
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Non-GAAP Operating Income Margin (Full Year): 16%.
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Annual Recurring Revenue (ARR): $646 million, 10% year-over-year growth.
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Security ARR Growth: 17% year-over-year to $156 million.
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Net Retention Rate: 104% in Q4.
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Unlevered Free Cash Flow Margin: 12%, up from 10% in the prior year.
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Device Support: Approximately 33.2 million devices.
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Customer Count: 76,500 customers.
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2025 Revenue Outlook (Q1): $165.5 to $167.5 million, 9-10% growth.
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2025 Revenue Outlook (Full Year): $675.5 to $680.5 million, 8.1% growth at midpoint.
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2025 Non-GAAP Operating Income Margin Outlook: 21% at midpoint.
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Unlevered Free Cash Flow Growth Outlook: At least 75% for 2025.
Release Date: February 27, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Jamf Holding Corp (NASDAQ:JAMF) achieved strong Q4 results with an 8% year-over-year revenue growth and a non-GAAP operating income margin of 18%, exceeding their outlook.
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The company reported a full-year revenue growth of 12% and a non-GAAP operating income margin of 16%, meeting their financial targets for all four quarters of 2024.
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Annual Recurring Revenue (ARR) grew 10% year-over-year to $646 million, with security ARR growing 17% to $156 million.
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International revenue grew 17% in 2024, now representing over a third of total revenue, with expectations for continued growth as they invest in strategic geographies.
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Jamf Holding Corp (NASDAQ:JAMF) launched a new partner program and system updates, showing significant uptick in partner-led deal registrations, indicating strong channel growth potential.
Negative Points
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Net retention rate decreased slightly to 104% in Q4, indicating some challenges in maintaining customer retention.
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Less strategic sources of revenue, such as services and licenses, continue to experience year-over-year declines.
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Trailing 12-month unlevered free cash flow margin was lower than expected at 12% due to delayed billings and collections.
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The company faced minor data reconfiguration issues that impacted ARR, customer count, and device count metrics.
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There is ongoing uncertainty in the selling environment due to layoffs and budget constraints, impacting future revenue growth projections.
Q & A Highlights
Q: Can you discuss the recent trends in the tech and education sectors and what you expect from these industries in 2025? A: John Strosahl, CEO: Q4 was strong, with notable bookings growth. In tech, we've seen growth, especially in Mac and mobile security. Education remains significant, with opportunities like the Giga project in Japan and the Ministry of Education in Singapore selecting us. We're optimistic about both sectors as buyer confidence returns.