Jamf Holding Corp. (NASDAQ:JAMF) Q3 2024 Earnings Conference Call November 7, 2024 4:30 PM ET

Company Participants

Jennifer Gaumond - Investor Relations
John Strosahl - Chief Executive Officer
David Rudow - Incoming Chief Financial Officer
Ian Goodkind - Chief Financial Officer

Conference Call Participants

Joshua Reilly - Needham
Jake Roberge - William Blair
Raimo Lenschow - Barclays
Patrick Walravens - JMP
Matt Hedberg - RBC

Operator

Thank you for standing by and welcome to Jamf's Third Quarter 2024 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.

Jennifer Gaumond

Good afternoon and thank you for joining today's call to discuss Jamf's third quarter 2024 financial results. Joining on -- me on today's call are John Strosahl, CEO; Ian Goodkind, Outgoing CFO; and David Rudow, Incoming CFO.

Before we begin, a reminder that shortly after the market closed today, we issued a press release announcing our third quarter financial results. We also published our Q3 investor and earnings presentation, along with an Excel file containing quarterly financial statements to assist with modeling. You may access this information on the Investor Relations section of jamf.com. Today's discussion includes forward-looking statements which involve risks and uncertainties that could cause actual results and trends to differ materially from our forecast. For more details, please refer to the risk factors and other information discussed in our most recent SEC reports, including our most recent annual report on Form 10-K. Jamf assumes no obligation to update forward-looking statements which speak only as of the date they are made. We will also reference some non-GAAP measures related to Jamf's performance. Reconciliations to the nearest comparable GAAP measures are available in our earnings release.

To facilitate a full Q&A, please limit yourself to one initial question and one follow-up. Now, I'll turn the call over to John.

John Strosahl

Thanks, Jen. Q3 was another quarter of strong performance with revenue and non-GAAP operating income exceeding the high end of our outlook. Q3 year-over-year revenue growth was 12%, with subscription revenue representing 98% of the total. Non-GAAP operating income reached $27.7 million, representing a non-GAAP operating income margin of 17%, an 800 basis points improvement from the prior year period. ARR grew 12% year-over-year to $635 million, driven by our commercial business and continued demand for our security solutions.