Jamf Holding Corp. (NASDAQ:JAMF) Q1 2023 Earnings Conference Call May 4, 2023 4:30 PM ET

Company Participants

Jennifer Gaumond - Vice President, Investor Relations

Dean Hager - Chief Executive Officer

Ian Goodkind - Chief Financial Officer

John Strosahl - President and Chief Operating Officer

Conference Call Participants

Matthew Hedberg - RBC

Raimo Lenschow - Barclays

Joshua Reilly - Needham & Company

Koji Ikeda - Bank of America

Nick Mattiacci - Craig-Hallum

Operator

Thank you for standing by. Welcome to the Jamf First Quarter 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions]. As a reminder, today's program is being recorded.

And now I'd like to introduce your host for today's program, Jennifer Gaumond, Vice President, Investor Relations. Please go ahead.

Jennifer Gaumond

Good afternoon, and thank you for joining us on today's conference call to discuss Jamf's first quarter financial results. With me on today's call are Dean Hager, Chief Executive Officer; Ian Goodkind, Chief Financial Officer; and John Strosahl, President and Chief Operating Officer.

Before we begin, I'd like to remind you that shortly after the market closed today, we issued a press release announcing our first quarter financial results. We also published a Q1 earnings presentation, along with an updated investor presentation and Excel file containing quarterly financial statements to assist with modeling. Additionally, we issued a press release announcing Dean's retirement and John's appointment to CEO, effective September 2, 2023. You may access this information on the Investor Relations section of jamf.com.

Today's discussion may include forward-looking statements. Please refer to our most recent SEC reports, including our most recent annual report on Form 10-K, where you'll see a discussion of factors that could cause actual results to differ materially from these statements. I would also like to remind you that during the call, we will discuss some non-GAAP measures related to Jamf's performance. You can find the reconciliation of those measures to the nearest comparable GAAP measures in our earnings release. Additionally, to ensure we can address as many analyst questions as possible during the call, we ask that you please limit your question to one initial question and one follow-up.

Now I'd like to turn the call over to Dean Hager. Dean?

Dean Hager

Thank you, Jenn, and thank you everyone for joining us. Jamf is pleased to report that our first quarter of 2023 marks the 12th consecutive quarter where Jamf outperformed expectations. Q1 year-over-year revenue growth was 22% and non-GAAP operating margin was 5%, both of which exceeded the high end of our outlook. Jamf's ARR grew 21% year-over-year in Q1 to $526.6 million. These results are reflective of Jamf's continued strong performance amid this difficult macroeconomic environment.