Total Revenue

↑ 8% (from $150.65M in Q4 2023 to $162.97M in Q4 2024)

Revenue growth was driven by higher subscription revenue—up 9% YoY—as well as strong performance across key regions such as EMEA (up 14%) and Asia Pacific (up 21%). This reflects continued strengths in device expansion, new customer acquisitions, and cross-selling initiatives that began in previous periods, contributing to the sustained revenue momentum. " " " "

Subscription Revenue

↑ 9% (from $146.68M in Q4 2023 to $159.74M in Q4 2024)

Subscription revenues increased, with SaaS subscriptions rising from $140.31M to $152.60M. The growth is attributed to ongoing efforts in expanding device support, effective cross-selling, and a steady influx of new customers, continuing a trend established in earlier quarters. " " " "

SaaS Subscriptions

Increase (from $140.31M to $152.60M)

SaaS subscriptions remain a cornerstone of Jamf’s revenue, showing robust growth driven by the same strategic initiatives witnessed in prior periods—device expansion, enhanced customer engagement, and increased cross-selling efforts—all contributing to higher recurring revenue. " "

EMEA Revenue

↑ 14% (from $37.85M in Q4 2023 to $43.18M in Q4 2024)

Regional performance in EMEA improved due to focused market penetration and regional expansion efforts that built on earlier quarter successes. The remarkable increase is indicative of strategic market improvements and heightened customer demand in the region. " "

Asia Pacific Revenue

↑ 21% (from $11.62M in Q4 2023 to $14.07M in Q4 2024)

Asia Pacific revenue benefited from aggressive expansion strategies and a growing customer base. The strong performance is consistent with the company’s previous period initiatives to tap into emerging markets with significant growth potential. " "

Net Loss

↓ 6% (from $17.41M in Q4 2023 to $16.43M in Q4 2024)

Net loss narrowed due to improved operating efficiencies and enhanced revenue generation. Although still negative, the reduction reflects better cost management and operational leverage compared to prior periods, helping to partially offset expenses through higher revenues. " "

Operating Loss

↓ 40% (from $20.26M in Q4 2023 to $12.16M in Q4 2024)

Operating loss improved significantly as a result of higher revenue absorption of fixed costs and a focused reduction in operating expenses. Enhanced gross profit margins and strategic cost management—as compared to the trends in previous periods—were key factors in this dramatic turnaround. " "

Total Revenue (Quarterly)

Q1 2025

$161.9M–$162.9M, ~midpoint US$162.4M, YoY growth 7%–8% "

$165.5M–$167.5M, ~midpoint US$166.5M, YoY growth 9%–10% "

raised

Non‑GAAP Operating Income (Quarterly)

Q1 2025

$25.5M–$26.5M, ~midpoint US$26M, 16% margin "

$35.5M–$37.5M, ~midpoint US$36.5M, 22% margin "

raised

Total Revenue (Annual)

FY 2025

$626.3M–$627.3M, ~midpoint US$626.8M, 12% YoY growth "

$675.5M–$680.5M, ~midpoint US$678M, 8.1% YoY growth "

raised

Non‑GAAP Operating Income (Annual)

FY 2025

$98.8M–$99.8M, ~midpoint US$99.3M, 15.8% margin "

$142.5M–$146.5M, ~midpoint US$144.5M, 21% margin "

raised

Unlevered Free Cash Flow Growth (Annual)

FY 2025

no prior guidance

at least 75% growth "

no prior guidance

Security ARR Growth & Bundling Integration

Q1 showed strong growth with Security ARR at 31% YoY and notable bundling wins " " ; Q2 delivered 27% YoY growth with bundled deals driving win rates " " ; Q3 reported 26% YoY growth with successful product launches and integration boosts " "

In Q4, Security ARR grew 17% YoY (adjusted by a 2% impact) with continued bundling integration driving contract wins, although growth appeared slightly moderated by ARR adjustments " "

Consistent strong growth, though Q4 figures show a slight moderation due to adjustments; overall, the integrated approach remains a key driver for revenue expansion. " " "

Mobile & Deskless Market Expansion

Q1 highlighted significant mobile wins and expanded management of increasingly diverse devices " " ; Q2 emphasized major mobile deals and innovative deskless workflows " ; Q3 noted mobile expansion across industries with strong traction for new mobile security SKUs " "

Q4 reinforced the focus on deskless workflows with extended usage in industries like education, airlines, and transportation, driving unique use cases for mobile security and management " " "

Steady emphasis with expansion, with Q4 showcasing innovative use cases and deeper penetration in sectors (e.g., transportation) that build on previous quarters’ momentum. " "

Partner Ecosystem & Cloud Strategy

Q1 lacked specific discussion; Q2 detailed partner portal enhancements and U.S. partner channel improvements " ; Q3 focused on new partner programs (Okta, Microsoft ISV) and multi-cloud strategy with Azure hosting " " "

Q4 placed additional emphasis on its Azure partnership, system upgrades (Oracle, Salesforce) and strengthened go‑to‑market enablement via partner ecosystem improvements " "

Increasing focus on multi‑cloud and ecosystem expansion as partners become more central to growth, marking a notable shift from minimal mention in Q1 to robust programs in Q4. " "

Margin Expansion & Operational Efficiency

Q1 reported a 15% non‑GAAP operating income margin with active cost‐saving and scalability initiatives " " ; Q2 improved margins (15% operating margin, cost‑savings in S&M and G&A) " ; Q3 described 17% operating margin and enhanced system efficiencies " "

Q4 continued the narrative with further margin expansion (18% operating income, additional improvements in S&M and G&A) and highlighted system upgrades driving unlevered free cash flow margins " "

Consistent improvement and cost discipline, with sustained focus on operational efficiencies through system and expense optimizations strengthening margins quarter-over-quarter. " "

Device Refresh Cycles & Market Timing Uncertainty

In Q1, elongated refresh cycles were noted amid market uncertainty with early signs of easing " " ; Q2 discussed education market refresh timing and shipment data correlations " " ; Q3 emphasized anticipated refresh cycles not yet fully materialized "

Q4 reiterated that extended refresh cycles persist due to market uncertainties and budget constraints, with continued monitoring of device lifecycles influenced by the 2020 remote work period "

Persistent uncertainty across periods; while Q1 and Q2 had cautious optimism, Q4 underlines ongoing delays and the need to adjust timing expectations in response to budget constraints. " "

Customer Retention & Net Revenue Trends

Q1 showed a slight NRR decline from 108% to 107% with churn and upsell effects " " ; Q2 featured stabilization at 106% NRR with strong bundled product retention " " " ; Q3 maintained flat net retention at 106% and noted lower churn with bundled offerings " "

Q4 saw a slight dip in NRR to 104% with consistent gross retention, while management expects improvement mid‑2025 driven by upsell and cross‑sell opportunities " "

Generally stable with minor fluctuations; a small decline in Q4 contrasts with earlier quarters but overall retention remains robust, supporting recurring revenue. " "

Billing & Collections Delays Impacting Cash Flow

Not mentioned in Q1, Q2, and Q3 earnings calls

Q4 introduced discussion on increased DSOs (82 days) and billing delays due to system upgrades, which are expected to normalize in 2025 " "

Emerging topic; new concerns in Q4 regarding cash flow management indicate an operational challenge not seen in previous quarters. " "

ARR Reporting Adjustments & Metric Uncertainty

Q1 provided ARR performance details with minimal mention of adjustments " " ; Q2 noted ARR growth without deep dives into metric adjustments " " ; Q3 described one‑time adjustments for customer/device counts and revenue recognition " "

Q4 offered detailed explanations of ARR adjustments (e.g., MITRE data, account validations) that impacted security ARR and overall growth reporting, with ongoing efforts to improve metric clarity " " " "

Ongoing metric recalibration, with Q4 clarifying several previous inconsistencies; the process continues to refine ARR reporting methods. " "

Extended Sales Cycles & Market Uncertainty

Q1 noted elongated sales cycles driven by macroeconomic uncertainty and extended refresh cycles " " ; Q2 did not specifically mention this topic; Q3 acknowledged extended cycles amid tight customer budgets and approval processes "

Q4 confirmed that sales cycles have lengthened further due to overall market uncertainty and budget constraints, as highlighted by both Strosahl and Rudow " "

Consistent challenge, with extended sales cycles remaining a thread across periods and showing signs of intensification in Q4. " "

SMB Segment Vulnerability

Q1 reported SMB vulnerability with higher interest rates acting as a “canary” for broader trends " ; Q2 described early signs of stabilization within the SMB segment "

Q3 and Q4 did not explicitly address SMB vulnerabilities, suggesting reduced emphasis on this issue or stabilization in the segment

Decreasing focus, indicating that while vulnerabilities were a concern in Q1, subsequent periods (especially Q3 and Q4) show signs of stabilization or decreased emphasis. " "

Competitive Pricing Pressure

Q1 alluded indirectly to competitor-driven churn and differentiation via bundled solutions " " " ; Q2 noted acute competitive pressure in January that subsided, and Q3 had no mention

Q4 featured explicit comments about competitive pressure from major competitors (e.g., VMware Broadcom) but emphasized Jamf’s innovation and ability to win via an Apple-paced R&D approach "

Steady overall with renewed emphasis in Q4, as competitive pricing remains monitored, though product innovation continues to provide differentiation. " "