- Q3 total revenue of
$95.6 million , representing year-over-year growth of 36% - ARR year-over-year growth of 47% to
$384 .8 million as ofSeptember 30, 2021 - Q3 cash flow provided by operations of
$26.8 million ; Unlevered free cash flow of$28.5 million , or 30% of total revenue
Third Quarter 2021 Financial Highlights
- ARR: ARR increase of 47% year-over-year to
$384 .8 million as ofSeptember 30, 2021 . - Revenue: Total revenue of
$95.6 million , an increase of 36% year-over-year. - Gross Profit: GAAP gross profit of
$69.2 million , or 72% of total revenue, compared to$55.4 million in the third quarter of 2020. Non-GAAP Gross Profit was$76.4 million , or 80% of total revenue, compared to$58.4 million in the third quarter of 2020. - Operating Loss/Income: GAAP operating loss of
$29.9 million , compared to GAAP operating loss of$0.6 million in the third quarter of 2020. Non-GAAP Operating Income of$2.0 million , or 2% of total revenue, compared to$11.7 million in the third quarter of 2020. - Cash Flow: Cash flow provided by operations of
$84.5 million for TTM endedSeptember 30, 2021 , compared to$39.6 million for TTM endedSeptember 30, 2020 . Unlevered free cash flow of$81.5 million for TTM endedSeptember 30, 2021 , or 24% of TTM total revenue, compared to$57.6 million , or 23% of total revenue for TTM endedSeptember 30, 2020 .
A reconciliation between historical GAAP and non-GAAP information is contained in the tables below and the section titled “Non-GAAP Financial Measures” below contains descriptions of these reconciliations.
“Throughout the year we’ve talked about the remarkable momentum, consistency and balance across our business, and Q3 was no exception, with 47% total ARR growth and 37% organic ARR growth, with growth in commercial markets continuing to accelerate,” said
Recent Business Highlights
- Ended the third quarter serving more than 57,000 customers and running on more than 25.0 million Apple devices.
- Completed the acquisition of
Wandera , a leader in zero trust cloud security and access for mobile devices, onJuly 1, 2021 . - Showcased numerous Jamf platform enhancements at our 12th annual
Jamf Nation User Conference , including the launch of the cloud-based security solutions Jamf Private Access, Jamf Threat Defense and Jamf Safe Internet, along with data loss prevention capabilities with Jamf Protect and compliance tools for organizations using Jamf andGoogle with a newGoogle Cloud BeyondCorp Enterprise integration. - Announced same-day support for all of Apple’s fall operating system releases, including macOS Monterey and iOS 15, which include features like account-driven User Enrollment and Private Relay, which when combined with Jamf, help organizations provide privacy and security without compromising user productivity.
- Appointed
Linh Lam as Chief Information Officer, leading Jamf’s technology strategy to create and implement a model for the modern hybrid workplace. - Ranked #44 on the Fortune Best Workplaces for Women™ 2021 list.
Financial Outlook
For the fourth quarter of fiscal year 2021, the company currently expects:
- Total revenue of
$99.0 to$101.0 million - Non-GAAP Operating Income of
$1.5 to$2.5 million
For the full year 2021, the company currently expects:
- Total revenue of
$361.5 to$363.5 million - Non-GAAP Operating Income of
$19.0 to$20.0 million
To assist with modeling, for the fourth quarter of 2021 and full year 2021, amortization is expected to be approximately
Jamf is unable to provide a quantitative reconciliation of forward-looking guidance of Non-GAAP Operating Income to GAAP operating income (loss) because certain items are out of Jamf’s control or cannot be reasonably predicted. Historically, these items have included, but are not limited to, acquisition-related expenses and acquisition-related earn-out, costs incurred by us in connection with secondary offerings by certain shareholders, amortization and stock-based compensation and related payroll taxes. Accordingly, a reconciliation for forward-looking Non-GAAP Operating Income is not available without unreasonable effort. These items are uncertain, depend on various factors, and could result in projected GAAP operating income (loss) being materially less than is indicated by currently estimated Non-GAAP Operating Income.
Conference Call Information
Jamf will host a conference call and live webcast for analysts and investors at
The webcast will be accessible on Jamf’s investor relations website at https://ir.jamf.com. A telephonic replay of the conference call will be available through
Non-GAAP Financial Measures
In addition to our results determined in accordance with generally accepted accounting principles in
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding our financial outlook and market positioning. Forward-looking statements give our current expectations and projections relating to our financial condition, results of operations, plans, objectives, future performance and business. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as “anticipate,” “estimate,” “expect,” “project,” “plan,” “intend,” “believe,” “may,” “will,” “should,” “can have,” “likely” and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events, statements about the potential benefits of the acquisition, possible or assumed business strategies, potential growth opportunities, and the potential value creation as a result of combined offerings. All forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those that we expected, including, among others: statements regarding our future financial and operating performance (including our financial outlook for future reporting periods); our ability to realize the potential benefits of the acquisition of
Additional information concerning these and other factors can be found in our filings with the
About Jamf
Jamf, the standard in Apple Enterprise Management, extends the legendary Apple experience people love to businesses, schools and government organizations through its software and the world’s largest online community of IT admins focused exclusively on Apple, Jamf Nation. To learn more, visit: www.jamf.com.
Investor Contact
ir@jamf.com
Media Contact
media@jamf.com
Consolidated Balance Sheets
(in thousands)
2021 | 2020 | ||||||||
(Unaudited) | |||||||||
Assets | |||||||||
Current assets: | |||||||||
Cash and cash equivalents | $ | 227,148 | $ | 194,868 | |||||
Trade accounts receivable, net of allowances of | 69,486 | 69,056 | |||||||
Income taxes receivable | 652 | 632 | |||||||
Deferred contract costs | 11,673 | 8,284 | |||||||
Prepaid expenses | 18,677 | 13,283 | |||||||
Other current assets | 3,592 | 1,113 | |||||||
Total current assets | 331,228 | 287,236 | |||||||
Equipment and leasehold improvements, net | 17,529 | 15,130 | |||||||
846,057 | 541,480 | ||||||||
Other intangible assets, net | 276,750 | 202,878 | |||||||
Deferred contract costs, non-current | 27,830 | 22,202 | |||||||
Other assets | 30,685 | 5,359 | |||||||
Total assets | $ | 1,530,079 | $ | 1,074,285 | |||||
Liabilities and stockholders’ equity | |||||||||
Current liabilities: | |||||||||
Accounts payable | $ | 12,717 | $ | 6,967 | |||||
Accrued liabilities | 98,598 | 31,916 | |||||||
Income taxes payable | 730 | 713 | |||||||
Deferred revenues | 211,029 | 160,002 | |||||||
Total current liabilities | 323,074 | 199,598 | |||||||
Deferred revenues, non-current | 59,338 | 45,507 | |||||||
Deferred tax liability, net | 11,455 | 5,087 | |||||||
Convertible senior notes, net | 361,474 | — | |||||||
Other liabilities | 27,969 | 13,079 | |||||||
Total liabilities | 783,310 | 263,271 | |||||||
Commitments and contingencies | |||||||||
Stockholders’ equity: | |||||||||
Preferred stock | — | — | |||||||
Common stock | 119 | 117 | |||||||
Additional paid-in capital | 898,428 | 903,116 | |||||||
Accumulated other comprehensive loss | (8,120 | ) | — | ||||||
Accumulated deficit | (143,658 | ) | (92,219 | ) | |||||
Total stockholders’ equity | 746,769 | 811,014 | |||||||
Total liabilities and stockholders’ equity | $ | 1,530,079 | $ | 1,074,285 | |||||
Consolidated Statements of Operations
(in thousands, except share and per share amounts)
(unaudited)
| Three Months Ended | Nine Months Ended | |||||||||||||
| 2021 | 2020 (1)(2) | 2021 | 2020 (1)(2) | |||||||||||
(As Revised) | (As Revised) | ||||||||||||||
Revenue: | |||||||||||||||
Subscription | $ | 90,700 | $ | 65,634 | $ | 245,900 | $ | 178,438 | |||||||
Services | 4,083 | 3,897 | 12,015 | 10,616 | |||||||||||
License | 838 | 1,017 | 4,671 | 3,811 | |||||||||||
Total revenue | 95,621 | 70,548 | 262,586 | 192,865 | |||||||||||
Cost of revenue: | |||||||||||||||
Cost of subscription(3)(4)(5)(6) (exclusive of amortization expense shown below) | 18,317 | 10,032 | 44,206 | 28,020 | |||||||||||
Cost of services(3)(4)(5) (exclusive of amortization expense shown below) | 2,955 | 2,447 | 8,027 | 7,747 | |||||||||||
Amortization expense | 5,198 | 2,679 | 10,835 | 8,034 | |||||||||||
Total cost of revenue | 26,470 | 15,158 | 63,068 | 43,801 | |||||||||||
Gross profit | 69,151 | 55,390 | 199,518 | 149,064 | |||||||||||
Operating expenses: | |||||||||||||||
Sales and marketing(3)(4)(5)(6) | 40,856 | 23,773 | 103,640 | 67,558 | |||||||||||
Research and development(3)(4)(5)(6) | 25,608 | 12,757 | 58,437 | 37,344 | |||||||||||
General and administrative(3)(4)(5)(6) | 25,536 | 13,845 | 69,288 | 31,588 | |||||||||||
Amortization expense | 7,025 | 5,633 | 18,275 | 16,941 | |||||||||||
Total operating expenses | 99,025 | 56,008 | 249,640 | 153,431 | |||||||||||
Loss from operations | (29,874 | ) | (618 | ) | (50,122 | ) | (4,367 | ) | |||||||
Interest expense, net | (1,386 | ) | (1,207 | ) | (1,608 | ) | (10,675 | ) | |||||||
Loss on extinguishment of debt | (449 | ) | (5,213 | ) | (449 | ) | (5,213 | ) | |||||||
Foreign currency transaction loss | (269 | ) | (154 | ) | (795 | ) | (471 | ) | |||||||
Other income, net | — | — | — | 91 | |||||||||||
Loss before income tax benefit | (31,978 | ) | (7,192 | ) | (52,974 | ) | (20,635 | ) | |||||||
Income tax benefit | 1,595 | 1,804 | 1,535 | 4,917 | |||||||||||
Net loss | $ | (30,383 | ) | $ | (5,388 | ) | $ | (51,439 | ) | $ | (15,718 | ) | |||
Net loss per share, basic and diluted | $ | (0.26 | ) | $ | (0.05 | ) | $ | (0.44 | ) | $ | (0.15 | ) | |||
Weighted‑average shares used to compute net loss per share, basic and diluted | 118,640,565 | 113,203,074 | 117,983,463 | 106,333,836 |
(1) Certain prior period amounts have been revised to correct an immaterial error related to certain commissions that were incorrectly capitalized. The commissions, as well as the associated payroll taxes and retirement plan contributions, were not incremental to the acquisition of customer contracts and should have been expensed as incurred. In addition, certain prior period amounts have been revised to correct other immaterial errors.
(2) In the fourth quarter of 2020, we reclassified on-premise subscription revenue from license revenue to subscription revenue on a retroactive basis.
(3) Includes stock-based compensation as follows:
Three Months Ended | Nine Months Ended | ||||||||||||||
2021 | 2020 | 2021 | 2020 | ||||||||||||
(in thousands) | |||||||||||||||
Cost of revenue: | |||||||||||||||
Subscription | $ | 1,716 | $ | 314 | $ | 2,384 | $ | 390 | |||||||
Services | 229 | 62 | 381 | 62 | |||||||||||
Sales and marketing | 4,833 | 675 | 6,763 | 897 | |||||||||||
Research and development | 5,145 | 523 | 7,076 | 821 | |||||||||||
General and administrative | 3,913 | 754 | 6,170 | 1,733 | |||||||||||
$ | 15,836 | $ | 2,328 | $ | 22,774 | $ | 3,903 | ||||||||
(4) Includes payroll taxes related to stock-based compensation as follows:
| Three Months Ended | Nine Months Ended | |||||||||||||
| 2021 | 2020 | 2021 | 2020 | |||||||||||
(in thousands) | |||||||||||||||
Cost of revenue: | |||||||||||||||
Subscription | $ | 112 | $ | — | $ | 112 | $ | — | |||||||
Services | 22 | — | 22 | — | |||||||||||
Sales and marketing | 270 | — | 416 | — | |||||||||||
Research and development | 174 | — | 291 | — | |||||||||||
General and administrative | 148 | — | 501 | — | |||||||||||
| $ | 726 | $ | — | $ | 1,342 | $ | — | |||||||
(5) Includes depreciation expense as follows:
| Three Months Ended | Nine Months Ended | |||||||||||||
| 2021 | 2020 | 2021 | 2020 | |||||||||||
(As Revised) | (As Revised) | ||||||||||||||
(in thousands) | |||||||||||||||
Cost of revenue: | | ||||||||||||||
Subscription | $ | 302 | $ | 236 | $ | 814 | $ | 736 | |||||||
Services | 43 | 49 | 124 | 156 | |||||||||||
Sales and marketing | 608 | 454 | 1,706 | 1,452 | |||||||||||
Research and development | 341 | 271 | 923 | 865 | |||||||||||
General and administrative | 194 | 142 | 572 | 448 | |||||||||||
| $ | 1,488 | $ | 1,152 | $ | 4,139 | $ | 3,657 | |||||||
(6) Includes acquisition-related expense as follows:
| Three Months Ended | Nine Months Ended | |||||||||||||
| 2021 | 2020 | 2021 | 2020 | |||||||||||
(in thousands) | |||||||||||||||
Cost of revenue: | |||||||||||||||
Subscription | $ | 17 | $ | — | $ | 17 | $ | — | |||||||
Sales and marketing | 34 | — | 34 | — | |||||||||||
Research and development | 549 | — | 590 | — | |||||||||||
General and administrative | 1,859 | 1,092 | 4,143 | 4,328 | |||||||||||
$ | 2,459 | $ | 1,092 | $ | 4,784 | $ | 4,328 | ||||||||
General and administrative also includes acquisition-related earnout of
Consolidated Statements of Cash Flows
(in thousands)
(unaudited)
| Nine Months Ended | ||||||
| 2021 | 2020 (1) | |||||
(As Revised) | |||||||
Cash flows from operating activities | | | |||||
Net loss | $ | (51,439 | ) | $ | (15,718 | ) | |
Adjustments to reconcile net loss to cash provided by operating activities: | |||||||
Depreciation and amortization expense | 33,249 | 28,632 | |||||
Amortization of deferred contract costs | 9,034 | 5,518 | |||||
Amortization of debt issuance costs | 573 | 700 | |||||
Non-cash lease expense | 3,705 | — | |||||
Provision for bad debt expense and returns | (7 | ) | 894 | ||||
Loss on extinguishment of debt | 449 | 5,213 | |||||
Share‑based compensation | 22,774 | 3,903 | |||||
Deferred tax benefit | (2,568 | ) | (5,169 | ) | |||
Adjustment to contingent consideration | 4,837 | (3,100 | ) | ||||
Other | 1,144 | (277 | ) | ||||
Changes in operating assets and liabilities: | |||||||
Trade accounts receivable | 3,184 | (18,274 | ) | ||||
Income tax receivable/payable | (107 | ) | (183 | ) | |||
Prepaid expenses and other assets | (8,129 | ) | (4,200 | ) | |||
Deferred contract costs | (18,052 | ) | (13,970 | ) | |||
Accounts payable | 5,020 | 2,987 | |||||
Accrued liabilities | 1,644 | (4,207 | ) | ||||
Deferred revenue | 59,464 | 47,189 | |||||
Other liabilities | 52 | 3,161 | |||||
Net cash provided by operating activities | 64,827 | 33,099 | |||||
Cash flows from investing activities | |||||||
Acquisitions, net of cash acquired | (352,711 | ) | — | ||||
Purchases of equipment and leasehold improvements | (7,261 | ) | (1,836 | ) | |||
Proceeds from sale of equipment and leasehold improvements | 35 | — | |||||
Net cash used in investing activities | (359,937 | ) | (1,836 | ) | |||
Cash flows from financing activities | |||||||
Proceeds from convertible senior notes | 373,750 | — | |||||
Proceeds from bank borrowings | 250,000 | — | |||||
Payment of bank borrowings | (250,000 | ) | (205,000 | ) | |||
Payment for purchase of capped calls | (36,030 | ) | — | ||||
Debt issuance costs | (12,636 | ) | (1,264 | ) | |||
Payment of debt extinguishment costs | — | (2,050 | ) | ||||
Proceeds from initial public offering, net of underwriting discounts and commissions | — | 326,316 | |||||
Cash paid for offering costs | (543 | ) | (6,601 | ) | |||
Proceeds from private placement | — | 2,233 | |||||
Cash paid for contingent consideration | (4,206 | ) | — | ||||
Proceeds from the exercise of stock options | 8,570 | 185 | |||||
Net cash provided by financing activities | 328,905 | 113,819 | |||||
Effect of exchange rate changes on cash, cash equivalents and restricted cash | (865 | ) | — | ||||
Net increase in cash, cash equivalents and restricted cash | 32,930 | 145,082 | |||||
Cash, cash equivalents and restricted cash, beginning of period | 194,868 | 32,375 | |||||
Cash, cash equivalents and restricted cash, end of period | $ | 227,798 | $ | 177,457 | |||
(1) Certain prior period amounts have been revised to correct an immaterial error related to certain commissions that were incorrectly capitalized. The commissions, as well as the associated payroll taxes and retirement plan contributions, were not incremental to the acquisition of customer contracts and should have been expensed as incurred. In addition, certain prior period amounts have been revised to correct other immaterial errors.
Consolidated Statements of Cash Flows (continued)
(in thousands)
(unaudited)
| Nine Months Ended | ||||||
| 2021 | 2020 | |||||
Reconciliation of cash, cash equivalents and restricted cash within the consolidated balance sheets to the amounts shown in the consolidated statements of cash flows above: | |||||||
Cash and cash equivalents | $ | 227,148 | $ | 177,457 | |||
Restricted cash included in other current assets | 650 | — | |||||
Total cash, cash equivalents and restricted cash | $ | 227,798 | $ | 177,457 | |||
Supplemental Financial Information
Disaggregated Revenues
(in thousands)
(unaudited)
Three Months Ended | Nine Months Ended | ||||||||||||||
2021 | 2020 (1) | 2021 | 2020 (1) | ||||||||||||
(As Revised) | (As Revised) | ||||||||||||||
SaaS subscription and support and maintenance | $ | 83,775 | $ | 57,785 | $ | 222,672 | $ | 160,279 | |||||||
On‑premise subscription | 6,925 | 7,849 | 23,228 | 18,159 | |||||||||||
Subscription revenue | 90,700 | 65,634 | 245,900 | 178,438 | |||||||||||
Professional services | 4,083 | 3,897 | 12,015 | 10,616 | |||||||||||
Perpetual licenses | 838 | 1,017 | 4,671 | 3,811 | |||||||||||
Non‑subscription revenue | 4,921 | 4,914 | 16,686 | 14,427 | |||||||||||
Total revenue | $ | 95,621 | $ | 70,548 | $ | 262,586 | $ | 192,865 | |||||||
(1) Certain prior period amounts have been revised to correct immaterial errors.
Supplemental Financial Information
Reconciliation of GAAP to non-GAAP Financial Data
(in thousands, except share and per share amounts)
(unaudited)
Three Months Ended | Nine Months Ended | ||||||||||||||
2021 | 2020 (1) | 2021 | 2020 (1) | ||||||||||||
(As Revised) | (As Revised) | ||||||||||||||
Operating expenses | $ | 99,025 | $ | 56,008 | $ | 249,640 | $ | 153,431 | |||||||
Amortization expense | (7,025 | ) | (5,633 | ) | (18,275 | ) | (16,941 | ) | |||||||
Stock-based compensation | (13,891 | ) | (1,952 | ) | (20,009 | ) | (3,451 | ) | |||||||
Acquisition-related expense | (2,442 | ) | (1,092 | ) | (4,767 | ) | (4,328 | ) | |||||||
Acquisition-related earnout | (600 | ) | (600 | ) | (4,837 | ) | 3,100 | ||||||||
Offering costs | — | — | (594 | ) | — | ||||||||||
Payroll taxes related to stock-based compensation | (592 | ) | — | (1,208 | ) | — | |||||||||
Legal reserve | — | — | (4,200 | ) | — | ||||||||||
Non-GAAP Operating Expenses | $ | 74,475 | $ | 46,731 | $ | 195,750 | $ | 131,811 | |||||||
Three Months Ended | Nine Months Ended | ||||||||||||||
2021 | 2020 (1) | 2021 | 2020 (1) | ||||||||||||
(As Revised) | (As Revised) | ||||||||||||||
Gross profit | $ | 69,151 | $ | 55,390 | $ | 199,518 | $ | 149,064 | |||||||
Amortization expense | 5,198 | 2,679 | 10,835 | 8,034 | |||||||||||
Stock-based compensation | 1,945 | 376 | 2,765 | 452 | |||||||||||
Acquisition-related expense | 17 | — | 17 | — | |||||||||||
Payroll taxes related to stock-based compensation | 134 | — | 134 | — | |||||||||||
Non-GAAP Gross Profit | $ | 76,445 | $ | 58,445 | $ | 213,269 | $ | 157,550 | |||||||
Non-GAAP Gross Profit Margin | 80 | % | 83 | % | 81 | % | 82 | % | |||||||
Three Months Ended | Nine Months Ended | ||||||||||||||
2021 | 2020 (1) | 2021 | 2020 (1) | ||||||||||||
(As Revised) | (As Revised) | ||||||||||||||
Operating loss | $ | (29,874 | ) | $ | (618 | ) | $ | (50,122 | ) | $ | (4,367 | ) | |||
Amortization expense | 12,223 | 8,312 | 29,110 | 24,975 | |||||||||||
Stock-based compensation | 15,836 | 2,328 | 22,774 | 3,903 | |||||||||||
Acquisition-related expense | 2,459 | 1,092 | 4,784 | 4,328 | |||||||||||
Acquisition-related earnout | 600 | 600 | 4,837 | (3,100 | ) | ||||||||||
Offering costs | — | — | 594 | — | |||||||||||
Payroll taxes related to stock-based compensation | 726 | — | 1,342 | — | |||||||||||
Legal reserve | — | — | 4,200 | — | |||||||||||
Non-GAAP Operating Income | $ | 1,970 | $ | 11,714 | $ | 17,519 | $ | 25,739 | |||||||
Non-GAAP Operating Income Margin | 2 | % | 17 | % | 7 | % | 13 | % |
(1) Certain prior period amounts have been revised to correct an immaterial error related to certain commissions that were incorrectly capitalized. The commissions, as well as the associated payroll taxes and retirement plan contributions, were not incremental to the acquisition of customer contracts and should have been expensed as incurred. In addition, certain prior period amounts have been revised to correct other immaterial errors.
Three Months Ended | Nine Months Ended | ||||||||||||||
2021 | 2020 (1) | 2021 | 2020 (1) | ||||||||||||
(As Revised) | (As Revised) | ||||||||||||||
Net loss | $ | (30,383 | ) | $ | (5,388 | ) | $ | (51,439 | ) | $ | (15,718 | ) | |||
Amortization expense | 12,223 | 8,312 | 29,110 | 24,975 | |||||||||||
Stock-based compensation | 15,836 | 2,328 | 22,774 | 3,903 | |||||||||||
Foreign currency transaction loss | 269 | 154 | 795 | 471 | |||||||||||
Loss on extinguishment of debt | 449 | 5,213 | 449 | 5,213 | |||||||||||
Amortization of debt issuance costs | 324 | — | 324 | — | |||||||||||
Acquisition-related expense | 2,459 | 1,092 | 4,784 | 4,328 | |||||||||||
Acquisition-related earnout | 600 | 600 | 4,837 | (3,100 | ) | ||||||||||
Offering costs | — | — | 594 | — | |||||||||||
Payroll taxes related to stock-based compensation | 726 | — | 1,342 | — | |||||||||||
Legal reserve | — | — | 4,200 | — | |||||||||||
Discrete tax items | (13 | ) | (1,389 | ) | (64 | ) | (1,666 | ) | |||||||
Benefit for income taxes(2) | (1,525 | ) | (2,642 | ) | (1,525 | ) | (6,470 | ) | |||||||
Non-GAAP Net Income | $ | 965 | $ | 8,280 | $ | 16,181 | $ | 11,936 | |||||||
Net loss per share: | |||||||||||||||
Basic | $ | (0.26 | ) | $ | (0.05 | ) | $ | (0.44 | ) | $ | (0.15 | ) | |||
Diluted | $ | (0.26 | ) | $ | (0.05 | ) | $ | (0.44 | ) | $ | (0.15 | ) | |||
Weighted‑average shares used in computing net loss per share: | |||||||||||||||
Basic | 118,640,565 | 113,203,074 | 117,983,463 | 106,333,836 | |||||||||||
Diluted | 118,640,565 | 113,203,074 | 117,983,463 | 106,333,836 | |||||||||||
Non-GAAP Net Income per Share: | |||||||||||||||
Basic | $ | 0.01 | $ | 0.07 | $ | 0.14 | $ | 0.11 | |||||||
Diluted | $ | 0.01 | $ | 0.07 | $ | 0.13 | $ | 0.11 | |||||||
Weighted-average shares used in computing Non-GAAP Net Income per Share: | |||||||||||||||
Basic | 118,640,565 | 113,203,074 | 117,983,463 | 106,333,836 | |||||||||||
Diluted | 121,974,161 | 116,688,193 | 121,006,865 | 109,188,051 |
(1) Certain prior period amounts have been revised to correct an immaterial error related to certain commissions that were incorrectly capitalized. The commissions, as well as the associated payroll taxes and retirement plan contributions, were not incremental to the acquisition of customer contracts and should have been expensed as incurred. In addition, certain prior period amounts have been revised to correct other immaterial errors.
(2) For the three and nine months ended
Three Months Ended | Nine Months Ended | ||||||||||||||||||
2021 | 2020 (1) | 2021 | 2020 (1) | ||||||||||||||||
(As Revised) | (As Revised) | ||||||||||||||||||
Net cash provided by operating activities | $ | 26,805 | $ | 23,584 | $ | 64,827 | $ | 33,099 | |||||||||||
Add: | |||||||||||||||||||
Cash paid for interest | 938 | 3,385 | 944 | 12,647 | |||||||||||||||
Cash paid for acquisition-related expense | 2,791 | 1,700 | 3,885 | 3,300 | |||||||||||||||
Less: | |||||||||||||||||||
Purchases of equipment and leasehold improvements | (2,050 | ) | (470 | ) | (7,261 | ) | (1,836 | ) | |||||||||||
Unlevered free cash flow | $ | 28,484 | $ | 28,199 | $ | 62,395 | $ | 47,210 | |||||||||||
Unlevered free cash flow margin | 30 | % | 40 | % | 24 | % | 24 | % |
Trailing Twelve Months Ended | |||||||||||
2021 (1) | 2020 (1) | ||||||||||
(As Revised) | (As Revised) | ||||||||||
Net cash provided by operating activities | $ | 84,529 | $ | 39,578 | |||||||
Add: | |||||||||||
Cash paid for interest | 946 | 17,555 | |||||||||
Cash paid for acquisition-related expense | 5,785 | 3,300 | |||||||||
Less: | |||||||||||
Purchases of equipment and leasehold improvements | (9,793 | ) | (2,862 | ) | |||||||
Unlevered free cash flow | $ | 81,467 | $ | 57,571 | |||||||
Total revenue | $ | 338,853 | $ | 250,438 | |||||||
Unlevered free cash flow margin | 24 | % | 23 | % |
(1) Certain prior period amounts have been revised to correct immaterial errors.
Source: Jamf
2021 GlobeNewswire, Inc., source