Jamf, which specializes in Apple Enterprise Management, has announced financial results for its second quarter that ended June 30, 2020.
Total revenue was US$62.2 million, an increase of 29% year-over-year. Recurring revenue was $58.7 million, an increase of 42% year-over-year.
GAAP gross profit was $48.6 million, or 78% of total revenue, compared to $34.8 million, or 72% of total revenue, in the second quarter of 2019. Non-GAAP gross profit was $51.3 million, or 82% of total revenue, compared to $37.4 million, or 77% of total revenue, in the second quarter of 2019.
Cash flow provided by operations was $16.8 million, compared to negative $1.9 million used in the second quarter of 2019. Unlevered free cash flow was $21.0 million, or 33.8% of total revenue, compared to $1.8 million in the second quarter of 2019, or 3.8% of total revenue.
“We delivered strong second quarter results driven by the essential role we play in deploying, managing and securing Apple in the enterprise, education and healthcare,” said Dean Hager, CEO of Jamf. “We experienced strength across our key metrics, including ARR which grew 36% year-over-year, and which we believe provides the best representation of the underlying growth of our business. The extraordinary challenges resulting from COVID-19 have accelerated remote work, distance learning and telehealth trends, and have continued demand for our platform which enables businesses, hospitals and schools to connect, manage and protect their Apple devices remotely. We are excited about the multiple growth drivers for the business and the large and growing market opportunity ahead of us. We look forward to continuing to help organizations successfully deploy Apple devices seamlessly and securely across their organizations.”
For the third quarter of 2020, the company currently expects:
° Total revenue of $65 to $66 million;
° Non-GAAP operating income of $5 to $7 million.
For the full year 2020, the company currently expects:
° Total revenue of $255 to $257 million;
° Non-GAAP operating income of $20 to $23 million.