0001558370-20-013738 | 10-Q | XBRL Viewer

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Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2020	Nov. 04, 2020
Document and Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2020
Entity File Number	001-39399
Entity Registrant Name	JAMF HOLDING CORP.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	82-3031543
Entity Address, Address Line One	100 Washington Ave S
Entity Address, Address Line Two	Suite 1100
Entity Address, City or Town	Minneapolis
Entity Address, State or Province	MN
Entity Address, Postal Zip Code	55401
City Area Code	612
Local Phone Number	605-6625
Title of 12(b) Security	Common Stock, $0.001 par value per share
Trading Symbol	JAMF
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		116,596,385
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001721947
Amendment Flag	false

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 177,457	$ 32,433
Trade accounts receivable, net of allowances of $513 and $200 at September 30, 2020 and December 31, 2019, respectively	64,151	46,513
Income taxes receivable	672	14
Deferred contract costs, current	8,528	5,553
Prepaid expenses	16,565	10,935
Other current assets	764	3,133
Total current assets	268,137	98,581
Equipment and leasehold improvements, net	10,934	12,477
Goodwill	539,818	539,818
Other intangible assets, net	210,120	235,099
Deferred contract costs, noncurrent	23,433	16,234
Other assets	2,842	2,599
Total assets	1,055,284	904,808
Current liabilities:
Accounts payable	6,672	3,684
Accrued liabilities	21,521	26,927
Income taxes payable	1,294	819
Deferred revenues	151,532	120,089
Total current liabilities	181,019	151,519
Deferred revenues, noncurrent	36,706	20,621
Deferred tax liability	12,774	18,133
Debt		201,319
Other liabilities	9,399	9,338
Total liabilities	239,898	400,930
Stockholders' equity:
Common stock, $0.001 par value, 500,000,000 and 132,000,000 shares authorized at September 30, 2020 and December 31, 2019, respectively; 116,463,284 and 102,843,612 shares issued and outstanding at September 30, 2020 and December 31, 2019, respectively	117	103
Additional paid-in capital	894,056	568,756
Accumulated deficit	(78,787)	(64,981)
Total stockholders' equity	815,386	503,878
Total liabilities and stockholders' equity	$ 1,055,284	$ 904,808

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
CONSOLIDATED BALANCE SHEETS
Allowance	$ 513	$ 200
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	50,000,000	0
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	500,000,000	132,000,000
Common stock, shares issued	116,463,284	102,843,612
Common stock, shares outstanding	116,463,284	102,843,612

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenues [Abstract]
Revenue	$ 70,404	$ 54,568	$ 193,025	$ 147,006
Cost of revenue:
Amortization expense	2,679	2,634	8,034	7,588
Total cost of revenue	15,239	14,076	43,897	40,602
Gross profit	55,165	40,492	149,128	106,404
Operating expenses:
Sales and marketing	23,251	16,962	65,735	48,850
Research and development	12,736	10,919	37,282	29,453
General and administrative	13,921	6,779	31,813	21,576
Amortization expense	5,633	5,627	16,941	16,886
Total operating expenses	55,541	40,287	151,771	116,765
Income (loss) from operations	(376)	205	(2,643)	(10,361)
Interest expense, net	(1,207)	(5,473)	(10,675)	(16,425)
Loss on extinguishment of debt	(5,213)		(5,213)
Foreign currency transaction loss	(154)	(861)	(471)	(1,311)
Other income, net		55	91	165
Loss before income tax benefit	(6,950)	(6,074)	(18,911)	(27,932)
Income tax benefit	1,857	1,404	5,105	6,581
Net loss	$ (5,093)	$ (4,670)	$ (13,806)	$ (21,351)
Net loss per share, basic and diluted	$ (0.04)	$ (0.05)	$ (0.13)	$ (0.21)
Weighted-average shares used to compute net loss per share, basic and diluted	113,203,074	102,791,023	106,333,836	102,727,198
Subscription
Revenues [Abstract]
Revenue	$ 57,933	$ 41,916	$ 160,989	$ 112,872
Cost of revenue:
Cost of revenue	10,117	8,045	28,127	22,425
Services/Professional Services
Revenues [Abstract]
Revenue	3,605	5,234	10,066	14,529
Cost of revenue:
Cost of revenue	2,443	3,397	7,736	10,589
License
Revenues [Abstract]
Revenue	$ 8,866	$ 7,418	$ 21,970	$ 19,605

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Common Stock IPO [Member]	Common Stock Private Placement [Member]	Common Stock	Additional Paid-in Capital IPO [Member]	Additional Paid-in Capital Private Placement [Member]	Additional Paid-in Capital	Accumulated Deficit	IPO [Member]	Private Placement [Member]	Total
Balance at Dec. 31, 2018			$ 103			$ 565,372	$ (32,381)			$ 533,094
Balance (shares) at Dec. 31, 2018			102,649,701
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options						822				822
Exercise of stock options (shares)			149,599
Share-based compensation						1,816				1,816
Net loss							(21,351)			(21,351)
Balance at Sep. 30, 2019			$ 103			568,010	(53,732)			514,381
Balance (shares) at Sep. 30, 2019			102,799,300
Balance at Jun. 30, 2019			$ 103			567,248	(49,062)			518,289
Balance (shares) at Jun. 30, 2019			102,769,324
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options						164				164
Exercise of stock options (shares)			29,976
Share-based compensation						598				598
Net loss							(4,670)			(4,670)
Balance at Sep. 30, 2019			$ 103			568,010	(53,732)			514,381
Balance (shares) at Sep. 30, 2019			102,799,300
Balance at Dec. 31, 2019			$ 103			568,756	(64,981)			503,878
Balance (shares) at Dec. 31, 2019			102,843,612
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock	$ 14			$ 318,979	$ 2,233			$ 318,993	$ 2,233
Issuance of common stock (shares)	13,500,000	85,880
Exercise of stock options						185				185
Exercise of stock options (shares)			33,792
Share-based compensation						3,903				3,903
Net loss							(13,806)			(13,806)
Balance at Sep. 30, 2020			$ 117			894,056	(78,787)			815,386
Balance (shares) at Sep. 30, 2020			116,463,284
Balance at Jun. 30, 2020			$ 103			570,434	(73,694)			496,843
Balance (shares) at Jun. 30, 2020			102,862,404
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock	$ 14			$ 318,979	$ 2,233			$ 318,993	$ 2,233
Issuance of common stock (shares)	13,500,000	85,880
Exercise of stock options						82				82
Exercise of stock options (shares)			15,000
Share-based compensation						2,328				2,328
Net loss							(5,093)			(5,093)
Balance at Sep. 30, 2020			$ 117			$ 894,056	$ (78,787)			$ 815,386
Balance (shares) at Sep. 30, 2020			116,463,284

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

+ References + Details

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash flows from operating activities
Net loss	$ (13,806)	$ (21,351)
Adjustments to reconcile net loss to cash provided by (used in) operating activities:
Depreciation and amortization expense	28,378	27,437
Amortization of deferred contract costs	6,705	4,463
Amortization of debt issuance costs	700	843
Provision for bad debt expense and returns	894
Loss (gain) on disposal of equipment and leasehold improvements	(23)	(11)
Loss on extinguishment of debt	5,213
Share-based compensation	3,903	1,816
Deferred taxes	(5,357)	(6,867)
Adjustment to contingent consideration	(3,100)
Changes in operating assets and liabilities:
Trade accounts receivable	(18,332)	(13,046)
Income tax receivable/payable	(183)	(246)
Prepaid expenses and other assets	(4,699)	(4,888)
Deferred contract costs	(16,879)	(12,684)
Accounts payable	3,145	(836)
Accrued liabilities	(4,207)	1,151
Deferred revenue	47,528	29,597
Other liabilities	3,161	(11)
Net cash provided by operating activities	33,041	5,367
Cash flows from investing activities
Acquisition, net of cash acquired		(40,173)
Purchases of equipment and leasehold improvements	(1,836)	(6,164)
Net cash used in investing activities	(1,836)	(46,337)
Cash flows from financing activities
Proceeds from debt		40,000
Debt issuance costs	(1,264)	(1,550)
Payment of debt	(205,000)	(4,750)
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	(6,601)
Proceeds from private placement	2,233
Proceeds from the exercise of stock options	185	820
Net cash provided by financing activities	113,819	34,520
Net increase (decrease) in cash	145,024	(6,450)
Cash, beginning of period	32,433	39,240
Cash, end of period	177,457	32,790
Supplemental disclosures of cash flow information:
Cash paid for interest	12,647	15,785
Cash paid for income taxes, net of refunds	$ 703	$ 511

Basis of presentation and description of business

9 Months Ended

Sep. 30, 2020

Basis of presentation and description of business

Basis of presentation and description of business

Note 1. Basis of presentation and description of business

Description of business

Jamf Holding Corp. and its wholly owned subsidiaries, collectively, are referred to as the “Company,” “we,” “us” or “our.” We are the standard in Apple Enterprise Management, and our cloud software platform is the only vertically-focused Apple infrastructure and security platform of scale in the world. We help organizations connect, manage and protect Apple products, apps and corporate resources in the cloud without ever having to touch the devices. With our products, Apple devices can be deployed to employees brand new in the shrink-wrapped box, automatically set up and personalized at first power-on and continuously administered throughout the life of the device. Our customers are located throughout the world.

Initial public offering

On July 24, 2020, the Company closed its initial public offering (“IPO”) through which it issued and sold 13,500,000 shares of common stock at a price per share to the public of $26.00 (the “IPO Price”). In connection with the IPO, the Company raised approximately $319.0 million after deducting the underwriting discount and commissions of $24.7 million and offering expenses of $7.3 million. Upon completion of the IPO, authorized capital stock consisted of 500,000,000 shares of common stock, par value $0.001 per share, and 50,000,000 shares of undesignated preferred stock, par value $0.001 per share.

Concurrently with the Company’s IPO, the Company issued and sold 85,880 shares of its common stock in a private placement to certain of its named executive officers, certain of its other employees and its independent directors at the IPO Price for aggregate consideration of approximately $2.2 million.

Upon closing of the IPO, the Company repaid $205.0 million of the principal amount of its then existing Term Loan Facility (the “Prior Term Loan Facility”) and paid $3.4 million of accrued interest and $2.0 million of prepayment penalty. The Company also wrote off $3.2 million of remaining debt issuance costs upon repayment of the debt. The Company recorded a loss on debt extinguishment of $5.2 million for the prepayment penalty and write off of debt issuance costs in the third quarter of 2020.

Vista Equity Partners acquisition

On November 13, 2017, Vista Equity Partners (“Vista”) acquired a majority share of all the issued and outstanding shares of the Company at the purchase price of $733.8 million (the “Vista Acquisition”). As of September 30, 2020, funds controlled by Vista own approximately 72.9% of our outstanding common stock. As a result, we are a “controlled company” under NASDAQ Global Select Market (“NASDAQ”) corporate governance rules.

Emerging growth company status

We are an emerging growth company, as defined in the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). Under the JOBS Act, emerging growth companies can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act, until such time as those standards apply to private companies.

We have elected to use this extended transition period for complying with new or revised accounting standards that have different effective dates for public and private companies until the earlier of the date that it is (i) no longer an emerging growth company or (ii) affirmatively and irrevocably opt out of the extended transition period provided in the JOBS Act. As a result, our consolidated financial statements may not be comparable to companies that comply with the new or revised accounting pronouncements as of public company effective dates.

We will remain an emerging growth company for the first five fiscal years after the completion of our IPO, unless one of the following occurs: (i) our total annual gross revenue is at least $1.07 billion, (ii) we have issued more than $1.0 billion in non-convertible debt securities during the prior three-year period, or (iii) we are deemed to be a large accelerated filer, which means the market value of our common stock that is held by non-affiliates exceeds $700.0 million as of the prior June 30.

Basis of presentation

The accompanying consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and include all adjustments necessary for the fair presentation of the consolidated financial position, results of operations, and cash flows of the Company.

Unaudited Interim Consolidated Financial Information

The accompanying interim consolidated balance sheet as of September 30, 2020, the consolidated statements of operations and of stockholders’ equity for the three and nine months ended September 30, 2020 and 2019 and the consolidated statements of cash flows for the nine months ended September 30, 2020 and 2019 and the related footnote disclosures are unaudited. These unaudited interim consolidated financial statements have been prepared on the same basis as the annual consolidated financial statements and, in management’s opinion, include all adjustments necessary for the fair presentation of the consolidated financial position, results of operations, and cash flows of the Company. All adjustments made were of a normal recurring nature. The results for the three and nine months ended September 30, 2020 are not necessarily indicative of the results to be expected for the year ending December 31, 2020 or for any future period.

Subsequent events

The Company evaluated events or transactions that occurred after the balance sheet date for potential recognition or disclosure through the date the financial statements were issued. No subsequent events or transactions were identified.

Use of estimates

The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities as of the reporting date, and the reported amounts of revenues and expenses during the reporting period. These estimates are based on management’s best knowledge of current events and actions that the Company may undertake in the future and include, but are not limited to, revenue recognition, stock-based compensation, commissions, goodwill and accounting for income taxes. Actual results could differ from those estimates.

Segment and Geographic Information

Our chief operating decision maker (“CODM”) is our Chief Executive Officer, who reviews financial information presented on a consolidated basis for purposes of making operating decisions, assessing financial performance and allocating resources. We operate our business as one operating segment and therefore we have one reportable segment.

Revenue by geographic region as determined based on the end user customer address was as follows:


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2020		2019		2020		2019

	(in thousands)
Revenue:
The Americas	$	54,631	$	42,459	$	149,806	$	112,980
Europe, the Middle East, India, and Africa		11,754		9,313		32,483		25,972
Asia Pacific		4,019		2,796		10,736		8,054
	$	70,404	$	54,568	$	193,025	$	147,006

Summary of significant accounting policies

9 Months Ended

Sep. 30, 2020

Summary of significant accounting policies

Summary of significant accounting policies

Note 2. Summary of significant accounting policies

The Company’s significant accounting policies are discussed in Note 2 to the consolidated financial statements included in our final prospectus (the “IPO Prospectus”) dated as of July 21, 2020 and filed with the Securities and Exchange Commission (the “SEC”) pursuant to Rule 424(b)(4) under the Securities Act of 1933, as amended (the “Securities Act”). There have been no significant changes to these policies that have had a material impact on the Company’s consolidated financial statements and related notes for the three and nine months ended September 30, 2020. The following describes the impact of certain policies.

Stock split

On July 10, 2020, the Company effected a 110-for-1 stock split of its common stock. The par value of the common stock was not adjusted as a result of the stock split. Accordingly, all share and per share amounts for all periods presented in the accompanying consolidated financial statements and notes thereto have been adjusted retrospectively, where applicable, to reflect this stock split.

Deferred offering costs

Offering costs are capitalized and consist of fees incurred in connection with the sale of common stock in our IPO and include legal, accounting, printing, and other IPO-related costs. The balance of deferred offering costs included within other current assets as of December 31, 2019 was $2.3 million. During the three and nine months ended September 30, 2020, we incurred $1.5 million and $5.0 million, respectively, of deferred offering costs. Upon completion of our IPO, the total amount of $7.3 million of deferred offering costs was reclassified to stockholders’ equity and recorded against the proceeds from the offering. Therefore, we had no deferred offering costs included within other current assets as of September 30, 2020.

Share-based compensation

The Company applies the provisions of ASC Topic 718, Compensation — Stock Compensation (“ASC 718”), in its accounting and reporting for stock-based compensation. ASC 718 requires all stock-based payments to employees, including grants of employee stock options, to be recognized in the income statement based on their fair values. All service-based options outstanding under the Company’s option plans have exercise prices equal to the fair value of the Company’s stock on the grant date. The fair value of these service options is determined using the Black-Scholes option pricing model. The estimated fair value of service-based awards is recognized as compensation expense over the applicable vesting period. All awards expire after 10 years. There were no service option grants during the nine months ended September 30, 2020.

Compensation cost for restricted stock units is determined based on the fair market value of the Company’s stock at the date of the grant. Stock-based compensation expense is generally recognized over the required service period. Forfeitures are accounted for when they occur.

The Company also grants performance-based awards to certain executives that vest and become exercisable when Vista’s realized cash return on its investment in the Company equals or exceeds $1.515 billion upon a change in control of the Company (“Termination Event”). The terms of the agreement do not specify a performance period for the occurrence of the Termination Event. The contractual term of the awards is 10 years. These options are also referred to as return target options. The Company uses a Modified Black-Scholes option pricing model which uses Level 3 inputs for fair value measurement.

In conjunction with the IPO, the vesting conditions of the performance-based awards were modified to also vest following an IPO and registration and sale of shares by Vista provided that Vista achieves a cash return on its equity investment in the Company equaling or exceeding $1.515 billion. In accordance with ASC 718, we calculated the fair value of these options on the modification date. The value of these options on the date of modification was $33.0 million as of June 30, 2020. As the awards are not currently considered probable of meeting vesting requirements no expense has been recognized, and the timing of any future expense recognition is unknown.

Revenue recognition

The Company applies ASC Topic 606, Revenue from Contracts with Customers (“ASC 606”) and follows a five-step model to determine the appropriate amount of revenue to be recognized in accordance with ASC 606.

Disaggregation of Revenue

The Company separates revenue into recurring and non-recurring categories to disaggregate those revenues that are one-time in nature from those that are term-based and renewable. Revenue from recurring and non-recurring contractual arrangements are as follows:


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2020		2019		2020		2019

	(in thousands)
SaaS subscription and support and maintenance	$	57,933	$	41,916	$	160,989	$	112,872
On‑premise subscription		7,849		5,135		18,159		12,224
Recurring revenue		65,782		47,051		179,148		125,096
Perpetual licenses		1,017		2,283		3,811		7,381
Professional services		3,605		5,234		10,066		14,529
Non‑recurring revenue		4,622		7,517		13,877		21,910
Total revenue	$	70,404	$	54,568	$	193,025	$	147,006

Contract Balances

Contract liabilities consist of customer billings in advance of revenue being recognized. The Company invoices its customers for subscription, support and maintenance and services in advance.

Changes in contract liabilities, including revenue earned during the period from the beginning contract liability balance and new deferrals of revenue during the period, were as follows:


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2020		2019		2020		2019

	(in thousands)
Balance, beginning of the period	$	157,738	$	117,919	$	140,710	$	100,662
Revenue earned		(50,038)		(39,261)		(147,324)		(116,145)
Deferral of revenue		80,538		54,651		194,852		148,792
Balance, end of the period	$	188,238	$	133,309	$	188,238	$	133,309

There were no significant changes to our contract assets and liabilities during the three and nine months ended September 30, 2020 and 2019 outside of our sales activities.

Remaining Performance Obligations

Revenue allocated to remaining performance obligations represents contracted revenue that has not yet been recognized, which includes deferred revenue and noncancelable amounts to be invoiced. As of September 30, 2020 and December 31, 2019, the Company had $199.1 million and $149.5 million, respectively, of remaining performance obligations, with 82% and 86%, respectively, expected to be recognized as revenue over the succeeding 12 months, and the remainder expected to be recognized over the three years thereafter.

Deferred Contract Costs

Sales commissions as well as associated payroll taxes and retirement plan contributions (together, contract costs) that are incremental to the acquisition of customer contracts, are capitalized using a portfolio approach as deferred contract costs on the consolidated balance sheet when the period of benefit is determined to be greater than one year.

Total amortization of contract costs for the three months ended September 30, 2020 and 2019 was $2.5 million and $1.7 million, respectively. Total amortization of contract costs for the nine months ended September 30, 2020 and 2019 was $6.7 million and $4.5 million, respectively.

The Company periodically reviews these deferred costs to determine whether events or changes in circumstances have occurred that could affect the period of benefit of these deferred contract costs. There were no impairment losses recorded during the three and nine months ended September 30, 2020 and 2019.

For the three and nine months ended September 30, 2020, the Company had two distributors that accounted for more than 10% of total net revenues. Total receivables related to these distributors were $15.2 million at September 30, 2020. For the three and nine months ended September 30, 2019, the Company had one distributor that accounted for more than 10% of total net revenues. Total receivables related to this distributor were $6.0 million at December 31, 2019.

Recently issued accounting pronouncements not yet adopted

From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (“FASB”), or other standard setting bodies and adopted by us as of the specified effective date. Unless otherwise discussed, the impact of recently issued standards that are not yet effective will not have a material impact on our financial position or results of operations upon adoption.

Financial Instruments — Credit Losses

In June 2016, the FASB issued Accounting Standards Update (“ASU”) No. 2016-13, Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”), which introduces a model based on expected losses to estimate credit losses for most financial assets and certain other instruments. In November 2019, the FASB issued ASU No. 2019-10 Financial Instruments — Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842): Effective Dates (“ASU 2019-10”). The update allows the extension of the initial effective date for entities which have not yet adopted ASU No. 2016-02, Leases (Topic 842) (“ASU 2016-02”). The standard is effective for annual reporting periods beginning after December 15, 2022, with early adoption permitted for annual reporting periods beginning after December 15, 2018. Entities will apply the standard’s provisions by recording a cumulative-effect adjustment to retained earnings. The Company has not yet adopted ASU 2016-13 and is currently evaluating the effect the standard will have on its consolidated financial statements.

Leases

In February 2016, the FASB issued ASU 2016-02 to increase transparency and comparability among organizations related to their leasing arrangements. The update requires lessees to recognize most leases on their balance sheets, with the exception of short-term leases if a policy election is made, while recognizing lease expense on their income statements in a manner similar to current GAAP. The guidance also requires entities to disclose key quantitative and qualitative information about its leasing arrangements. The Company expects to adopt the new lease standard on January 1, 2021 using the optional transition method to the modified retrospective approach. The Company has formed an implementation team, commenced identification of our lease population, and selected new software to manage the lease portfolio and perform the accounting required under the new lease standard. The Company is still assessing the impact of adoption of the new lease standard on the consolidated financial statements.

Reference Rate Reform

In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting (“ASU 2020-04”), which provides entities with temporary optional financial reporting alternatives to ease the potential burden in accounting for reference rate reform and includes a provision that allows entities to account for a modified contract as a continuation of an existing contract. ASU 2020-04 is effective upon issuance and can be applied through December 31, 2022. The Company is currently evaluating the effect the standard will have on its consolidated financial statements.

Adoption of new accounting pronouncements

Income Taxes

In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12”), which simplifies the accounting for income taxes, eliminates certain exceptions to the general principles in Topic 740 and clarifies certain aspects of the current guidance to improve consistent application among reporting entities. ASU 2019-12 is effective for fiscal years beginning after December 15, 2021 and interim periods within annual periods beginning after December 15, 2022. The Company early adopted the standard in the third quarter of 2020. The adoption of the standard did not have a material impact on the Company’s consolidated financial statements.

Fair Value Measurement — Disclosure Framework

In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework — Changes to the Disclosure Requirements for Fair Value Measurement (“ASU 2018-13”), which amends

ASC Topic 820, Fair Value Measurements. ASU 2018-13 modifies the disclosure requirements for fair value measurements by removing, modifying, or adding certain disclosures. The effective date of ASU 2018-13 is the first quarter of fiscal year 2020. The adoption of the standard did not have a material impact on the Company’s consolidated financial statements.

Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract

In March 2018, the FASB issued ASU No. 2018-15, Intangibles — Goodwill and Others — Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract (“ASU 2018-15”), which aligns the accounting for implementation costs incurred in a hosting arrangement that is a service contract with the accounting for implementation costs incurred to develop or obtain internal-use software under ASC Subtopic 350-40, in order to determine which costs to capitalize and recognize as an asset. ASU 2018-15 is effective for annual reporting periods, and interim periods within those years, beginning after December 15, 2019, and can be applied either prospectively to implementation costs incurred after the date of adoption or retrospectively to all arrangements. The Company adopted the new standard in the first quarter of fiscal year 2020. The adoption of the standard did not have an impact on the Company’s consolidated financial statements as the Company does not have any of these arrangements.

Improvements to Nonemployee Share-Based Payment Accounting

In June 2018, the FASB issued ASU No. 2018-07, Compensation — Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting (“ASU 2018-07”), with an intent to reduce cost and complexity and to improve financial reporting for share-based payments issued to nonemployees. The amendments in ASU 2018-07 provide for the simplification of the measurement of share-based payment transactions for acquiring goods and services from nonemployees. Currently, the accounting requirements for nonemployee and employee share-based payment transactions are significantly different. This standard expands the scope of ASC Topic 718 to include share-based payments issued to nonemployees for goods or services, aligning the accounting for share-based payments to nonemployees and employees. ASU 2018-07 is effective for annual reporting periods beginning after December 15, 2019, including interim periods within those periods, and early adoption is permitted. The Company adopted the new standard in the first quarter of fiscal year 2020. The adoption did not have an impact on the Company’s consolidated financial statements as the Company does not have any nonemployee share-based payment awards.

Financial instruments fair value

9 Months Ended

Sep. 30, 2020

Financial instruments fair value

Financial instruments fair value

Note 3. Financial instruments fair value

We report financial assets and liabilities and nonfinancial assets and liabilities that are recognized or disclosed at fair value in the consolidated financial statements on a recurring basis in accordance with ASC Topic 820. ASC 820 defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities, which are required to be recorded at fair value, we consider the principal or most advantageous market in which we would transact and the market-based risk measurements or assumptions that market participants would use in pricing the asset or liability, such as inherent risk, transfer restrictions and credit risk.

ASC 820 also establishes a fair value hierarchy, which prioritizes the inputs to valuation techniques used to measure fair value into three levels. Fair value represents the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. GAAP established a hierarchy framework to classify the fair value based on the observability of significant inputs to the measurement. The levels of the fair value hierarchy are as follows:

Level 1: Fair value is determined using an unadjusted quoted price in an active market for identical assets or liabilities.

Level 2: Fair value is estimated using inputs other than quoted prices included within Level 1 that are observable, either directly or indirectly.

Level 3: Fair value is estimated using unobservable inputs that are significant to the fair value of the assets or liabilities.

The carrying value of cash and cash equivalents, accounts receivable and accounts payable approximate their fair value. The fair value of our debt as of December 31, 2019 was $203.1 million (Level 2). The carrying value of our debt as of December 31, 2019 was $205.0 million. The fair value of our debt was determined using discounted cash flow analysis based on market rates for similar types of borrowings. Upon closing of the IPO, we repaid the principal amount of our outstanding debt and had no debt outstanding as of September 30, 2020.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Acquisitions

9 Months Ended

Sep. 30, 2020

Acquisitions

Acquisitions

Note 4. Acquisitions

ZuluDesk B.V.

On February 1, 2019, the Company purchased all of the outstanding membership units of ZuluDesk B.V. (“ZuluDesk”) whose products are designed to offer a cost-effective mobile device management system for today’s modern digital classroom. ZuluDesk’s software complement the Company’s existing product offerings. The Company accounted for the acquisition by applying the acquisition method of accounting for business combinations in accordance with ASC Topic 805. The final aggregate purchase price was approximately $38.6 million. This acquisition was funded by term debt, and borrowings under a revolving line of credit. The goodwill represents the excess of the purchase consideration over the fair value of the underlying net identifiable assets. The goodwill recognized in this acquisition is primarily attributable to the offerings in mobile device management of ZuluDesk and its assembled workforce. The goodwill is not deductible for income tax purposes.

The fair value of the separately identifiable intangible assets acquired, consisting of trademarks, customer relationships and developed technology, was estimated by applying an income approach. Under the income approach, an intangible asset’s fair value is equal to the present value of future economic benefits to be derived from ownership of the asset. Indications of value are developed by discounting future net cash flows to their present value at market-based rates of return. The weighted-average economic life of the intangible assets acquired is 7.0 years. For more details on the intangible assets, see Note 5.

Acquisition-related expenses were expensed as incurred and totaled nil and $0.9 million for the three and nine months ended September 30, 2019, respectively. These expenses were recognized as acquisition costs in general and administrative expenses. ZuluDesk contributed revenue and net income of $1.4 million and less than $0.1 million, respectively, during the three months ended September 30, 2019, excluding the effects of the acquisition and integration costs. ZuluDesk contributed revenue and net loss of $2.9 million and $0.5 million, respectively, during the nine months ended September 30, 2019, excluding the effects of the acquisition and integration costs. The Company used borrowings under the Prior Term Loan Facility to complete the acquisition. The Prior Term Loan Facility provided for borrowings of $175.0 million with a maturity date of November 13, 2022 under the Company’s secured credit agreement entered into November 13, 2017 (the “Prior Credit Agreement”), which was increased to $205.0 million on January 30, 2019 when the Company entered into that certain Amendment Agreement No. 1 to such Prior Credit Agreement and approximately $0.5 million of debt issuances costs were capitalized as a reduction in Debt on the balance sheet in connection with such increase.

The Company allocated the net purchase consideration to the net assets acquired, including finite-lived intangible assets, based on their respective fair values at the time of the acquisition as follows (in thousands):



Assets acquired:
Cash	$	3,325
Other current assets		1,306
Long‑term assets		154
Liabilities assumed:
Accounts payable and accrued liabilities		(419)
Deferred revenue		(3,050)
Deferred tax liability		(2,996)
Intangible assets acquired		12,310
Goodwill		28,000
Total purchase consideration	$	38,630

Digita Security LLC

On July 26, 2019, the Company purchased all of the outstanding membership interests of Digita Security LLC (“Digita”). With this acquisition, Digita’s acquired technology complements the Company’s existing Apple management, authentication and account management solutions with a security offering to provide a more robust suite of capabilities and service offerings in the Apple enterprise market. The Company accounted for the acquisition by applying the acquisition method of accounting for business combinations in accordance with ASC Topic 805. The acquisition aggregate purchase consideration totaled $14.4 million which included contingent purchase consideration with an estimated fair value of $9.0 million and the remainder provided for with cash. Acquisition-related expenses were expensed as incurred. Goodwill in the amount of $1.7 million is deductible for income tax purposes.

The maximum contingent consideration is $15.0 million if the acquired business achieves certain revenue milestones by December 31, 2022. The estimated fair value of these contingent payments is determined using a Monte Carlo simulation model, which uses Level 3 inputs for fair value measurements, including assumptions about probability of growth of subscription services and the related pricing of the services offered. During the three and nine months ended September 30, 2020, the fair value of the contingent consideration was increased by $0.6 million and decreased by $3.1 million, respectively, which is included in general and administrative expenses in the consolidated statement of operations. The adjustment for the three months ended September 30, 2020 primarily reflects updated assumptions about probability of growth of subscription services. The adjustment for the nine months ended September 30, 2020 primarily reflects updated assumptions about the probability of change in control in light of our IPO, as well as updated assumptions about probability of growth of subscription services. At September 30, 2020 and December 31, 2019, the fair value of the contingent consideration was $6.1 million and $9.2 million, respectively, which is included in other liabilities in the consolidated balance sheet.

In addition, the terms of the purchase agreement provide for additional future payments to the Digita shareholders in the amount of up to $5.0 million if certain key employees continue their employment with the Company through December 31, 2020, which is recognized as a compensation expense in our consolidated statement of operations. The Company recognized as expense $0.9 million and $4.1 million during the three and nine months ended September 30, 2020, respectively.

The fair value of the acquired developed technology was estimated by discounting future net cash flows to their present value at market-based rates of return (income approach). The estimated useful life of the acquired developed technology is estimated to be 5 years. For more details on the Company’s intangible assets, see Note 5. Pro forma results of operations for this acquisition were not presented as the effects were not material to our financial results.

The following table summarizes the fair value of consideration transferred and the estimated fair values of the assets acquired and liabilities assumed at the date of acquisition (in thousands):



Assets acquired:
Cash	$	512
Other current assets		1
Long‑term assets		12
Liabilities assumed:
Accounts payable and accrued liabilities		(119)
Intangible assets acquired		3,300
Goodwill		10,673
Total purchase consideration	$	14,379

Goodwill and other intangible assets

9 Months Ended

Sep. 30, 2020

Goodwill and other intangible assets

Goodwill and other intangible assets

Note 5. Goodwill and other intangible assets

The change in the carrying amount of goodwill is as follows:


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2020		2019		2020		2019

	(in thousands)
Goodwill, beginning of period	$	539,818	$	529,145	$	539,818	$	501,145
Goodwill acquired		—		10,673		—		38,673
Goodwill, end of period	$	539,818	$	539,818	$	539,818	$	539,818

The gross carrying amount and accumulated amortization of intangible assets other than goodwill are as follows:


								Weighted‑
								Average
				Accumulated		Net Carrying		Remaining
	Useful Life	Gross Value		Amortization		Value		Useful Life

		(in thousands)
Trademarks	1‑8 years	$	34,320	$	9,167	$	25,153	5.8 years
Customer relationships	2‑12 years		214,320		37,564		176,756	9.7 years
Developed technology	5 years		53,560		20,419		33,141	3.2 years
Non‑competes	2 years		90		41		49	1.1 years
Balance, December 31, 2019		$	302,290	$	67,191	$	235,099
Trademarks	8 years	$	34,320	$	12,383	$	21,937	5.1 years
Customer relationships	2‑12 years		214,320		51,259		163,061	9.0 years
Developed technology	5 years		53,560		28,453		25,107	2.4 years
Non‑competes	2 years		90		75		15	0.3 years
Balance, September 30, 2020		$	302,290	$	92,170	$	210,120

Amortization expense was $8.3 million for both the three months ended September 30, 2020 and 2019. Amortization expense was $25.0 million and $24.5 million for the nine months ended September 30, 2020 and 2019, respectively.

There were no impairments to goodwill or intangible assets recorded for the three and nine months ended September 30, 2020 and 2019.

Debt

9 Months Ended

Sep. 30, 2020

Debt Disclosure [Abstract]

Debt

Note 6. Debt

See Note 1 for information on the early extinguishment of debt upon closing of the IPO.

On July 27, 2020, the Company entered into a new secured credit agreement (the “New Credit Agreement”) for an initial revolving credit facility of $150.0 million (the “New Revolving Credit Facility”), which may be increased or decreased under specific circumstances, with a $25.0 million letter of credit sublimit and a $50.0 million alternative currency sublimit. In addition, the New Credit Agreement provides for the ability of the Company to request incremental term loan facilities, in a minimum amount of $5.0 million for each facility. The maturity date of the New Credit Agreement is July 27, 2025. The New Credit Agreement contains customary representations and warranties, affirmative covenants, reporting obligations, negative covenants and events of default. We were in compliance with such covenants at September 30, 2020. As of September 30, 2020, we had $1.0 million of letters of credit outstanding under our New Revolving Credit Facility. In the third quarter of 2020, the Company recorded debt issuance costs of $1.3 million, which is amortized to interest expense over the term of the New Credit Agreement. As of September 30, 2020, debt issuance costs of $1.2 million are included in other assets on the consolidated balance sheets.

The interest rates applicable to revolving borrowings under the New Credit Agreement are, at the Company’s option, either (i) a base rate, which is equal to the greater of (a) the Prime Rate, (b) the Federal Funds Effective Rate plus 0.5% and (c) the Adjusted LIBO Rate (subject to a floor) for a one month interest period (each term as defined in the New Credit Agreement) plus 1%, or (ii) the Adjusted LIBO Rate (subject to a floor) equal to the LIBO Rate for the applicable interest period multiplied by the Statutory Reserve Rate, plus in the case of each of clauses (i) and (ii), the Applicable Rate. The Applicable Rate (i) for base rate loans range from 0.25% to 1.0% per annum and (ii) for LIBO Rate loans range from 1.25% to 2.0% per annum, in each case, based on the Senior Secured Net Leverage Ratio (as such term is defined in the New Credit Agreement). Base rate borrowings may only be made in dollars. The Company pays a commitment fee during the term of the New Credit Agreement ranging from 0.20% to 0.35% per annum of the average daily undrawn portion of the revolving commitments based on the Senior Secured Net Leverage Ratio.

Commitments and Contingencies

9 Months Ended

Sep. 30, 2020

Commitments and Contingencies

Commitments and Contingencies

Note 7. Commitments and Contingencies

Operating Leases

The Company leases office facilities and office equipment under operating leases that expire at various dates through February 2030. The office facility leases require annual base rent, plus real estate taxes, utilities, insurance and maintenance costs. Total rent expense, including the Company’s share of the lessors’ operating expenses, was $1.3 million and $1.0 million for the three months ended September 30, 2020 and 2019, respectively, and $4.0 million and $3.0 million for the nine months ended September 30, 2020 and 2019, respectively. Certain of these leases are with a related party. Rent expense with related parties, including the Company’s share of the lessors’ operating expenses, was $0.3 million for both the three months ended September 30, 2020 and 2019 and $0.8 million and $0.7 million for the nine months ended September 30, 2020 and 2019, respectively.

Hosting Services and Other Support Software Agreements

The Company has various contractual agreements for hosting services and other support software. In March 2020, the Company entered into a new contractual agreement with an unrelated party for hosting services. As of

September 30, 2020, future payments related to this contract are $2.1 million for the remainder of 2020, $9.3 million in 2021, $12.0 million in 2022 and $3.2 million in 2023.

Contingencies

From time to time, the Company may be subject to various claims, charges and litigation. The Company records a liability when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. The Company maintains insurance to cover certain actions and believes that resolution of such claims, charges, or litigation will not have a material impact on the Company’s financial position, results of operations, or liquidity. The Company had no material liabilities for contingencies recorded as of September 30, 2020 and December 31, 2019.

Net Loss per Share

9 Months Ended

Sep. 30, 2020

Net Loss per Share

Net Loss per Share

Note 8. Net Loss per Share

The following table sets forth the computation of basic and diluted net loss per share:


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2020		2019		2020		2019

	(in thousands, except share and per share amounts)
Numerator:
Net loss	$	(5,093)	$	(4,670)	$	(13,806)	$	(21,351)
Denominator:
Weighted‑average shares used to compute net loss per share, basic and diluted		113,203,074		102,791,023		106,333,836		102,727,198
Basic and diluted net loss per share	$	(0.04)	$	(0.05)	$	(0.13)	$	(0.21)

Basic net loss per share is computed by dividing the net loss by the weighted-average number of common shares outstanding for the period. Because we have reported a net loss for the three and nine months ended September 30, 2020 and 2019, the number of shares used to calculate diluted net loss per common share is the same as the number of shares used to calculate basic net loss per common share because the potentially dilutive shares would have been antidilutive if included in the calculation.

The following potentially dilutive securities outstanding have been excluded from the computation of diluted weighted-average shares outstanding because such securities have an antidilutive impact due to losses reported:


	Three Months Ended		Nine Months Ended
	September 30,		September 30,
	2020	2019	2020	2019
Stock options outstanding	7,727,158	5,913,820	7,727,158	5,913,820
Unvested restricted stock units	1,291,056	25,520	1,291,056	25,520
Total potentially dilutive securities	9,018,214	5,939,340	9,018,214	5,939,340

Long-term incentive plan

9 Months Ended

Sep. 30, 2020

Long-term incentive plan

Long-term incentive plan

Note 9. Long-term incentive plan

In 2018, the Company established a long-term incentive plan for certain employees. Under the plan, the employees will receive cash payments upon achievement of the same conditions of the Company’s return target options. In conjunction with the IPO, the conditions of the long-term incentive plan were modified to also vest following an IPO and registration and sale of shares by Vista provided that Vista achieves a cash return on its equity investment in the Company equaling or exceeding $1.515 billion. As of September 30, 2020 and December 31, 2019, the Company had established a pool for executed individual agreements with employees to pay $7.0 million and $5.9 million, respectively,

upon achievement of the plan conditions. Consistent with the return target options, as of September 30, 2020 and December 31, 2019, no expense or liability has been recognized as the conditions for payment have not occurred.

Share-based compensation

9 Months Ended

Sep. 30, 2020

Share-based compensation

Share-based compensation

Note 10. Share-based compensation

On July 21, 2020, the Company adopted the Jamf Holding Corp. Omnibus Incentive Plan (the “2020 Plan”). The 2020 Plan provides for grants of (i) stock options, (ii) stock appreciation rights, (iii) restricted shares, (iv) performance awards, (v) other share-based awards and (vi) other cash-based awards to eligible employees, non-employee directors and consultants of the Company. The maximum number of shares of common stock available for issuance under the 2020 Plan is 14,800,000 shares. In conjunction with the closing of the IPO, our Board granted awards under the 2020 Plan to certain of our employees, representing an aggregate of 1,256,538 shares of common stock. At September 30, 2020, 13,545,464 shares of common stock are reserved for additional grants under the Plan.

The 2017 Stock Option Plan (“2017 Option Plan”) became effective November 13, 2017, upon the approval of the board of directors and serves as the umbrella plan for the Company’s stock-based and cash-based incentive compensation program for its officers and other eligible employees. The aggregate number of shares of common stock that may be issued under the 2017 Option Plan may not exceed 8,470,000 shares. At September 30, 2020, 128,928 shares of common stock are reserved for additional grants under the Plan. All stock options granted by the Company were at an exercise price at or above the estimated fair market value of the Company’s common stock as of the grant date. No options were granted during the nine months ended September 30, 2020.

The table below summarizes return target options activity for the nine months ended September 30, 2020:


				Weighted‑
		Weighted‑		Average	Aggregate
		Average		Remaining	Intrinsic
		Exercise		Contractual	Value
	Options	Price		Term (Years)	(in thousands)
Outstanding, December 31, 2019	3,687,664	$	6.75	8.8	$	29,908
Granted	—		—
Exercised	—		—			—
Forfeitures	—		—
Outstanding, September 30, 2020	3,687,664	$	6.75	8.0	$	113,786
Options exercisable at September 30, 2020	—	$	—	—	$	—
Vested or expected to vest at September 30, 2020	—	$	—	—	$	—

There was approximately $33.0 million of unrecognized compensation expense related to these return target options at September 30, 2020.

Restricted stock unit (“RSU”) activity for the nine months ended September 30, 2020 is as follows:


		Per Unit
	Units	Fair Value
Outstanding, December 31, 2019	36,520	$	12.60
Granted	1,262,308		26.00
Restrictions lapsed	—		—
Forfeited	(7,772)		26.00
Outstanding, September 30, 2020	1,291,056	$	25.62

RSUs under the 2020 Plan vest ratably over four years. RSUs under the 2017 Option Plan vest 100% on the one-year anniversary of the date of the grant. The estimated compensation cost of each RSU, which is equal to the fair

value of the award on the date of grant, is recognized on a straight-line basis over the vesting period. There was $31.1 million of total unrecognized compensation cost related to unvested restricted stock that is expected to be recognized over a weighted-average period of 3.8 years at September 30, 2020.

The table below summarizes the service-based option activity for the nine months ended September 30, 2020:


				Weighted‑
		Weighted‑		Average	Aggregate
		Average		Remaining	Intrinsic
		Exercise		Contractual	Value
	Options	Price		Term (Years)	(in thousands)
Outstanding, December 31, 2019	4,073,286	$	5.65	8.1	$	37,520
Granted	—		—
Exercised	(33,792)		5.49			498
Forfeitures	—		—
Outstanding, September 30, 2020	4,039,494	$	5.65	7.3	$	129,098
Options exercisable at September 30, 2020	2,400,693	$	5.50	7.2	$	77,080
Vested or expected to vest at September 30, 2020	4,039,494	$	5.65	7.3	$	129,098

The aggregate intrinsic value in the table above represents the total intrinsic value that would have been received by the optionholders had all optionholders exercised their options on the last date of the period. The total fair value of service-based options vested during the nine months ended September 30, 2020 was $1.1 million. There was $4.0 million of unrecognized compensation expense related to service-based stock options that is expected to be recognized over a weighted-average period of 1.9 years at September 30, 2020.

The Company recognized stock-based compensation expense as follows:


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2020		2019		2020		2019

	(in thousands)
Cost of revenue:
Subscription	$	314	$	38	$	390	$	156
Services		62		—		62		—
Sales and marketing		675		112		897		348
Research and development		523		99		821		284
General and administrative		754		349		1,733		1,028
	$	2,328	$	598	$	3,903	$	1,816

Income taxes

9 Months Ended

Sep. 30, 2020

Income taxes

Income taxes

Note 11. Income taxes

The Company’s effective tax rates for the three months ended September 30, 2020 and 2019 were 26.7% and 23.1%, respectively. The effective tax rate for the three months ended September 30, 2020 was impacted by $1.4 million of discrete income tax benefit primarily related to the loss on debt extinguishment. The Company’s effective tax rates for the nine months ended September 30, 2020 and 2019 were 27.0% and 23.6%, respectively. The effective tax rate for the nine months ended September 30, 2020 was higher than the prior year period due to research and development credits, the final Global Intangible Low Taxed Income (“GILTI”) high-tax exclusion regulation released on July 20, 2020 and a change in valuation allowance on foreign deferred tax assets related to a merger of subsidiaries. The effective tax rate for the nine months ended September 30, 2020 was impacted by $1.6 million of discrete income tax benefit primarily related to the loss on debt extinguishment and the impact of the net operating loss carryback and interest limitation changes related to the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”).

On March 27, 2020, the CARES Act was signed into law. The CARES Act provides numerous tax provisions and other stimulus measures, including temporary changes regarding the prior and future utilization of net operating losses, temporary changes to the prior and future limitations on interest deductions, temporary suspension of certain payment requirements for the employer portion of social security taxes, the creation of certain refundable employee retention credits, and technical corrections from prior tax legislation for tax depreciation of certain qualified improvement property. The Company anticipates it will benefit from the prior and future utilization of net operating losses and interest deductions. Beginning with pay dates on and after April 17, 2020, the Company has elected to defer the employer-paid portion of social security taxes, resulting in an accrual of $2.7 million as of September 30, 2020.

On July 20, 2020, Final Regulations were released with respect to the GILTI high-tax exclusion. The Final Regulations are effective for tax years starting after July 23, 2020, however, there may be availability for retroactive application back to tax years started after December 31, 2017. The Company has performed an analysis and determined there would be a benefit in both 2018 and 2019 for which a discrete item has been included in the third quarter of 2020 to reflect the impact of this benefit. In addition, we reduced our GILTI income as of the third quarter of 2020, the effect of which is reflected in the annual effective tax rate.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Related party transactions

9 Months Ended

Sep. 30, 2020

Related-party transactions

Related-party transactions

Note 12. Related-party transactions

The Company made pledges to the Jamf Nation Global Foundation (“JNGF”) of $0.1 million and $0.2 million for the three and nine months ended September 30, 2019, respectively. The Company did not make any pledges to JNGF for the three and nine months ended September 30, 2020. As of September 30, 2020 and December 31, 2019, the Company’s accrued liabilities related to JNGF pledges were $0.4 million and $1.0 million, respectively, which are included in accrued liabilities on the consolidated balance sheet.

The Company has an ongoing lease agreement for office space in Eau Claire, Wisconsin, with an entity in which a related party is a minority owner. See Note 7 for further discussion of this lease agreement.

Vista is a U.S.-based investment firm that controls the funds which own a majority of the Company. The Company has paid for consulting services and other expenses related to services provided by Vista and Vista affiliates. The total expenses incurred by the Company for these services with Vista were less than $0.1 million and $0.3 million for the three months ended September 30, 2020 and 2019, respectively, and $0.3 million and $0.9 million for the nine months ended September 30, 2020 and 2019, respectively. The Company had less than $0.1 million in accounts payable related to these expenses at September 30, 2020. The Company had no amounts in accounts payable related to these expenses at December 31, 2019.

The Company also has revenue arrangements with Vista affiliates. The Company recognized revenue related to these arrangements of $0.2 million for both the three months ended September 30, 2020 and 2019 and $0.8 million and

$0.6 million for the nine months ended September 30, 2020 and 2019, respectively. The Company had $0.1 million in accounts receivable related to these agreements at September 30, 2020. The Company had no amounts in accounts receivable related to these agreements at December 31, 2019.

In addition, the Company pays for services with Vista affiliates in the normal course of business. The total expenses incurred by the Company for services with Vista affiliates were $0.2 million and $0.1 million for the three months ended September 30, 2020 and 2019, respectively, and $0.5 million and $0.4 million for the nine months ended September 30, 2020 and 2019, respectively. The Company had less than $0.1 million in accounts payable related to these expenses at September 30, 2020. The Company had no amounts in accounts payable related to these expenses at December 31, 2019.

Prior to its termination and repayment in full on July 27, 2020, the Company had the Prior Term Loan Facility and, pursuant to the Company’s Prior Credit Agreement, a $15.0 million revolving credit facility with a maturity date of November 13, 2022 (the “Prior Revolving Credit Facility” and together with the Prior Term Loan Facility, the “Prior Credit Facilities”) with a consortium of lenders for a principal amount of $205.0 million and principal committed amount of $15.0 million, respectively. At December 31, 2019, affiliates of Vista held $34.9 million of the Prior Term Loan Facility and there were no amounts drawn on the Prior Revolving Credit Facility. During the three months ended September 30, 2020 and 2019, affiliates of Vista were paid $0.5 million and $0.8 million, respectively, in interest on the portion of the Prior Term Loan Facility held by them. During the nine months ended September 30, 2020 and 2019, affiliates of Vista were paid $2.1 million and $2.8 million, respectively, in interest on the portion of the Prior Term Loan Facility held by them.

Summary of significant accounting policies (Policies)

9 Months Ended

Sep. 30, 2020

Summary of significant accounting policies

Principles of consolidation

Stock split

Deferred offering costs

Share-based compensation

Revenue recognition

Disaggregation of Revenue


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2020		2019		2020		2019

	(in thousands)
SaaS subscription and support and maintenance	$	57,933	$	41,916	$	160,989	$	112,872
On‑premise subscription		7,849		5,135		18,159		12,224
Recurring revenue		65,782		47,051		179,148		125,096
Perpetual licenses		1,017		2,283		3,811		7,381
Professional services		3,605		5,234		10,066		14,529
Non‑recurring revenue		4,622		7,517		13,877		21,910
Total revenue	$	70,404	$	54,568	$	193,025	$	147,006

Contract Balances

Contract liabilities consist of customer billings in advance of revenue being recognized. The Company invoices its customers for subscription, support and maintenance and services in advance.

Changes in contract liabilities, including revenue earned during the period from the beginning contract liability balance and new deferrals of revenue during the period, were as follows:


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2020		2019		2020		2019

	(in thousands)
Balance, beginning of the period	$	157,738	$	117,919	$	140,710	$	100,662
Revenue earned		(50,038)		(39,261)		(147,324)		(116,145)
Deferral of revenue		80,538		54,651		194,852		148,792
Balance, end of the period	$	188,238	$	133,309	$	188,238	$	133,309

There were no significant changes to our contract assets and liabilities during the three and nine months ended September 30, 2020 and 2019 outside of our sales activities.

Remaining Performance Obligations

Deferred Contract Costs

Recently issued accounting pronouncements not yet adopted and Adoption of new accounting pronouncements

Recently issued accounting pronouncements not yet adopted

Financial Instruments — Credit Losses

Leases

Reference Rate Reform

Adoption of new accounting pronouncements

Income Taxes

Fair Value Measurement — Disclosure Framework

Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract

Improvements to Nonemployee Share-Based Payment Accounting

- Definition

Disclosure of accounting policy for revenue from contract with customer.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 17
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130561-203045

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 20
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130566-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130563-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 20
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130566-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130563-203045

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=84158767&loc=d3e18823-107790

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 20
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130566-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 19
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130564-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 20
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130566-203045

+ Details

Basis of presentation and description of business (Tables)

9 Months Ended

Sep. 30, 2020

Basis of presentation and description of business

Schedule of revenue by geographic location


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2020		2019		2020		2019

	(in thousands)
Revenue:
The Americas	$	54,631	$	42,459	$	149,806	$	112,980
Europe, the Middle East, India, and Africa		11,754		9,313		32,483		25,972
Asia Pacific		4,019		2,796		10,736		8,054
	$	70,404	$	54,568	$	193,025	$	147,006

Summary of significant accounting policies (Tables)

9 Months Ended

Sep. 30, 2020

Summary of significant accounting policies

Disaggregation Of Revenue


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2020		2019		2020		2019

	(in thousands)
SaaS subscription and support and maintenance	$	57,933	$	41,916	$	160,989	$	112,872
On‑premise subscription		7,849		5,135		18,159		12,224
Recurring revenue		65,782		47,051		179,148		125,096
Perpetual licenses		1,017		2,283		3,811		7,381
Professional services		3,605		5,234		10,066		14,529
Non‑recurring revenue		4,622		7,517		13,877		21,910
Total revenue	$	70,404	$	54,568	$	193,025	$	147,006

Contract With Customer Asset And Liability


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2020		2019		2020		2019

	(in thousands)
Balance, beginning of the period	$	157,738	$	117,919	$	140,710	$	100,662
Revenue earned		(50,038)		(39,261)		(147,324)		(116,145)
Deferral of revenue		80,538		54,651		194,852		148,792
Balance, end of the period	$	188,238	$	133,309	$	188,238	$	133,309

Acquisitions (Tables)

9 Months Ended

Sep. 30, 2020

ZuluDesk B.V

Business Acquisition [Line Items]

Schedule of assets acquired and liabilities assumed at the date of acquisition



Assets acquired:
Cash	$	3,325
Other current assets		1,306
Long‑term assets		154
Liabilities assumed:
Accounts payable and accrued liabilities		(419)
Deferred revenue		(3,050)
Deferred tax liability		(2,996)
Intangible assets acquired		12,310
Goodwill		28,000
Total purchase consideration	$	38,630

Digita Security LLC

Business Acquisition [Line Items]

Schedule of assets acquired and liabilities assumed at the date of acquisition



Assets acquired:
Cash	$	512
Other current assets		1
Long‑term assets		12
Liabilities assumed:
Accounts payable and accrued liabilities		(119)
Intangible assets acquired		3,300
Goodwill		10,673
Total purchase consideration	$	14,379

Goodwill and other intangible assets (Tables)

9 Months Ended

Sep. 30, 2020

Goodwill and other intangible assets

Schedule of changes in carrying amount of goodwill


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2020		2019		2020		2019

	(in thousands)
Goodwill, beginning of period	$	539,818	$	529,145	$	539,818	$	501,145
Goodwill acquired		—		10,673		—		38,673
Goodwill, end of period	$	539,818	$	539,818	$	539,818	$	539,818

Schedule of gross carrying amount and accumulated amortization of intangible assets other than goodwill


								Weighted‑
								Average
				Accumulated		Net Carrying		Remaining
	Useful Life	Gross Value		Amortization		Value		Useful Life

		(in thousands)
Trademarks	1‑8 years	$	34,320	$	9,167	$	25,153	5.8 years
Customer relationships	2‑12 years		214,320		37,564		176,756	9.7 years
Developed technology	5 years		53,560		20,419		33,141	3.2 years
Non‑competes	2 years		90		41		49	1.1 years
Balance, December 31, 2019		$	302,290	$	67,191	$	235,099
Trademarks	8 years	$	34,320	$	12,383	$	21,937	5.1 years
Customer relationships	2‑12 years		214,320		51,259		163,061	9.0 years
Developed technology	5 years		53,560		28,453		25,107	2.4 years
Non‑competes	2 years		90		75		15	0.3 years
Balance, September 30, 2020		$	302,290	$	92,170	$	210,120

Net Loss per Share (Tables)

9 Months Ended

Sep. 30, 2020

Net Loss per Share

Schedule of computation of basic and diluted net loss per share


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2020		2019		2020		2019

	(in thousands, except share and per share amounts)
Numerator:
Net loss	$	(5,093)	$	(4,670)	$	(13,806)	$	(21,351)
Denominator:
Weighted‑average shares used to compute net loss per share, basic and diluted		113,203,074		102,791,023		106,333,836		102,727,198
Basic and diluted net loss per share	$	(0.04)	$	(0.05)	$	(0.13)	$	(0.21)

Schedule of potentially dilutive securities excluded from the computation of diluted weighted-average shares outstanding


	Three Months Ended		Nine Months Ended
	September 30,		September 30,
	2020	2019	2020	2019
Stock options outstanding	7,727,158	5,913,820	7,727,158	5,913,820
Unvested restricted stock units	1,291,056	25,520	1,291,056	25,520
Total potentially dilutive securities	9,018,214	5,939,340	9,018,214	5,939,340

Share-based compensation (Tables)

9 Months Ended

Sep. 30, 2020

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary of restricted stock units stock option activity


		Per Unit
	Units	Fair Value
Outstanding, December 31, 2019	36,520	$	12.60
Granted	1,262,308		26.00
Restrictions lapsed	—		—
Forfeited	(7,772)		26.00
Outstanding, September 30, 2020	1,291,056	$	25.62

Service-based options

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary of stock-option activity


				Weighted‑
		Weighted‑		Average	Aggregate
		Average		Remaining	Intrinsic
		Exercise		Contractual	Value
	Options	Price		Term (Years)	(in thousands)
Outstanding, December 31, 2019	4,073,286	$	5.65	8.1	$	37,520
Granted	—		—
Exercised	(33,792)		5.49			498
Forfeitures	—		—
Outstanding, September 30, 2020	4,039,494	$	5.65	7.3	$	129,098
Options exercisable at September 30, 2020	2,400,693	$	5.50	7.2	$	77,080
Vested or expected to vest at September 30, 2020	4,039,494	$	5.65	7.3	$	129,098

Schedule of stock based compensation


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2020		2019		2020		2019

	(in thousands)
Cost of revenue:
Subscription	$	314	$	38	$	390	$	156
Services		62		—		62		—
Sales and marketing		675		112		897		348
Research and development		523		99		821		284
General and administrative		754		349		1,733		1,028
	$	2,328	$	598	$	3,903	$	1,816

Performance-based options

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary of stock-option activity


				Weighted‑
		Weighted‑		Average	Aggregate
		Average		Remaining	Intrinsic
		Exercise		Contractual	Value
	Options	Price		Term (Years)	(in thousands)
Outstanding, December 31, 2019	3,687,664	$	6.75	8.8	$	29,908
Granted	—		—
Exercised	—		—			—
Forfeitures	—		—
Outstanding, September 30, 2020	3,687,664	$	6.75	8.0	$	113,786
Options exercisable at September 30, 2020	—	$	—	—	$	—
Vested or expected to vest at September 30, 2020	—	$	—	—	$	—

Basis of presentation and description of business - IPO (Details) - USD ($) $ / shares in Units, $ in Thousands			3 Months Ended	9 Months Ended
	Jul. 24, 2020	Nov. 13, 2017	Sep. 30, 2020	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Acquisitions
Issuance of common stock (shares)	13,500,000
Share Price	$ 26.00
Proceeds from initial public offering, net of underwriting discounts and commissions				$ 326,316
Issuance of common stock	$ 319,000
Underwriting discount and commissions	24,700
Offering costs	$ 7,300			$ 6,601
Common stock, par value	$ 0.001		$ 0.001	$ 0.001		$ 0.001
Common stock, shares authorized	500,000,000		500,000,000	500,000,000		132,000,000
Preferred stock, par value	$ 0.001		$ 0.001	$ 0.001		$ 0.001
Preferred stock, shares authorized	50,000,000		50,000,000	50,000,000		0
Proceeds from private placement	$ 2,200			$ 2,233
Repayment of debt	205,000			205,000	$ 4,750
Accrued interest paid	3,400
Prepayment penalty	2,000
Write-off of debt issuance cost	3,200
Loss on debt extinguishment	$ 5,200		$ 5,213	$ 5,213
Vista Equity Partners [Member]
Acquisitions
Aggregate purchase price		$ 733,800
Ownership, as a percent			72.90%	72.90%
IPO [Member]
Acquisitions
Issuance of common stock			$ 318,993	$ 318,993
Private Placement [Member]
Acquisitions
Issuance of common stock (shares)	85,880
Issuance of common stock			$ 2,233	$ 2,233

Basis of presentation and description of business (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020 USD ($)	Sep. 30, 2019 USD ($)	Sep. 30, 2020 USD ($) segment	Sep. 30, 2019 USD ($)
Disaggregation of Revenue [Line Items]
Number of operating segment \| segment			1
Number of reportable segment \| segment			1
Revenue	$ 70,404	$ 54,568	$ 193,025	$ 147,006
The Americas
Disaggregation of Revenue [Line Items]
Revenue	54,631	42,459	149,806	112,980
Europe, Middle East, India, and Africa
Disaggregation of Revenue [Line Items]
Revenue	11,754	9,313	32,483	25,972
Asia Pacific
Disaggregation of Revenue [Line Items]
Revenue	$ 4,019	$ 2,796	$ 10,736	$ 8,054

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Summary of significant accounting policies - Stock split and Deferred offering costs (Details) $ in Thousands			3 Months Ended	9 Months Ended
	Jul. 24, 2020 USD ($)	Jul. 10, 2020	Sep. 30, 2020 USD ($)	Sep. 30, 2020 USD ($)	Dec. 31, 2019 USD ($)
Summary of significant accounting policies
Stock split ratio		110
Deferred offering costs	$ 7,300		$ 0	$ 0	$ 2,300
Offering costs	$ 7,300			6,601
Deferred offering costs incurred			$ 1,500	$ 5,000

Summary of significant accounting policies - Share-based compensation (Details) - USD ($) $ in Millions	6 Months Ended	9 Months Ended	12 Months Ended
	Jun. 30, 2020	Sep. 30, 2020	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Threshold cash return on investment upon termination event to determine vesting of performance shares			$ 1,515.0
Fair value after plan modification	$ 33.0
Service-based options
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Award expiration period		10 years
Options granted		0
Performance-based options
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Award expiration period		10 years
Threshold cash return on investment upon termination event to determine vesting of performance shares		$ 1,515.0

Summary of significant accounting policies - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Disaggregation of Revenue [Line Items]
Revenue	$ 70,404	$ 54,568	$ 193,025	$ 147,006
Recurring Revenue
Disaggregation of Revenue [Line Items]
Revenue	65,782	47,051	179,148	125,096
Non-recurring Revenue
Disaggregation of Revenue [Line Items]
Revenue	4,622	7,517	13,877	21,910
Subscription
Disaggregation of Revenue [Line Items]
Revenue	57,933	41,916	160,989	112,872
Subscription \| Recurring Revenue
Disaggregation of Revenue [Line Items]
Revenue	57,933	41,916	160,989	112,872
Services/Professional Services
Disaggregation of Revenue [Line Items]
Revenue	3,605	5,234	10,066	14,529
Services/Professional Services \| Non-recurring Revenue
Disaggregation of Revenue [Line Items]
Revenue	3,605	5,234	10,066	14,529
License
Disaggregation of Revenue [Line Items]
Revenue	8,866	7,418	21,970	19,605
License \| Recurring Revenue
Disaggregation of Revenue [Line Items]
Revenue	7,849	5,135	18,159	12,224
License \| Non-recurring Revenue
Disaggregation of Revenue [Line Items]
Revenue	$ 1,017	$ 2,283	$ 3,811	$ 7,381

- Definition

+ References

+ Details

Summary of significant accounting policies - Contract Balances (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Change in Contract with Customer, Liability [Abstract]
Balance, beginning of the period	$ 157,738	$ 117,919	$ 140,710	$ 100,662
Revenue earned	(50,038)	(39,261)	(147,324)	(116,145)
Deferral of revenue	80,538	54,651	194,852	148,792
Balance, end of the period	$ 188,238	$ 133,309	$ 188,238	$ 133,309

Summary of significant accounting policies - Remaining Performance Obligations (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining Performance Obligation, Revenue		$ 149.5
Remaining Performance Obligation, Revenue Recognition Percentage		86.00%
Remaining Performance Obligation, Revenue Recognition Period		12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining Performance Obligation, Revenue	$ 199.1
Remaining Performance Obligation, Revenue Recognition Percentage	82.00%
Remaining Performance Obligation, Revenue Recognition Period	12 months

Summary of significant accounting policies - Deferred Contract Costs (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Summary of significant accounting policies
Total amortization of contract costs	$ 2.5	$ 1.7	$ 6.7	$ 4.5
Impairment losses	$ 0.0	$ 0.0	$ 0.0	$ 0.0

Summary of significant accounting policies - Concentration of risk (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020 USD ($) item	Sep. 30, 2019 item	Sep. 30, 2020 USD ($) item	Sep. 30, 2019 item	Dec. 31, 2019 USD ($)
Concentration Risk [Line Items]
Trade accounts receivable, net	$ 64,151		$ 64,151		$ 46,513
Revenue from Contract with Customer Benchmark [Member] \| Credit Concentration Risk [Member]
Concentration Risk [Line Items]
Number of significant distributors \| item	2	1	2	1
Accounts Receivable [Member] \| Credit Concentration Risk [Member]
Concentration Risk [Line Items]
Trade accounts receivable, net	$ 15,200		$ 15,200		$ 6,000

Financial instruments fair value (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of debt	$ 0.0
Fair Value \| Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of debt		$ 203.1
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of debt		$ 205.0

Acquisitions - ZuluDesk B.V. (Details) - USD ($) $ in Thousands		3 Months Ended	9 Months Ended
	Feb. 01, 2019	Sep. 30, 2019	Sep. 30, 2019	Sep. 30, 2020	Jul. 26, 2020	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019	Jan. 30, 2019	Dec. 31, 2018	Nov. 13, 2017
Liabilities assumed:
Goodwill		$ 539,818	$ 539,818	$ 539,818		$ 539,818	$ 539,818	$ 529,145		$ 501,145
Term Loan [Member]
Acquisitions
Debt, Principle amount					$ 205,000				$ 205,000		$ 175,000
ZuluDesk B.V
Acquisitions
Aggregate purchase price	$ 38,600
Weighted-average economic life of intangible assets acquired	7 years
Acquisition-related expenses			900
Revenues		1,400	2,900
Net income (loss)			$ (500)
Debt issuances costs capitalized	$ 500
Assets acquired:
Cash	3,325
Other current assets	1,306
Long-term assets	154
Liabilities assumed:
Accounts payable and accrued liabilities	(419)
Deferred revenue	(3,050)
Deferred tax liability	(2,996)
Intangible assets acquired	12,310
Goodwill	28,000
Total purchase consideration	$ 38,630
ZuluDesk B.V \| Maximum
Acquisitions
Net income (loss)		$ 100

Acquisitions - Digita Security LLC (Details) - USD ($) $ in Thousands		3 Months Ended	9 Months Ended	12 Months Ended
	Jul. 26, 2019	Sep. 30, 2020	Sep. 30, 2020	Dec. 31, 2019	Jun. 30, 2020	Sep. 30, 2019	Jun. 30, 2019	Dec. 31, 2018
Acquisitions
Increase (decrease) in fair value of contingent consideration			$ (3,100)
Liabilities assumed:
Goodwill		$ 539,818	$ 539,818	$ 539,818	$ 539,818	$ 539,818	$ 529,145	$ 501,145
Developed technology
Acquisitions
Useful life of intangible assets			5 years	5 years
Digita Security LLC
Acquisitions
Aggregate purchase price	$ 14,400
Contingent purchase consideration	9,000
Goodwill deductible for income tax purposes	1,700
Maximum contingent consideration	15,000
Contingent consideration recognized		6,100	$ 6,100	$ 9,200
Compensation expense		900	4,100
Assets acquired:
Cash	512
Other current assets	1
Long-term assets	12
Liabilities assumed:
Accounts payable and accrued liabilities	(119)
Intangible assets acquired	3,300
Goodwill	10,673
Total purchase consideration	$ 14,379
Digita Security LLC \| Maximum
Acquisitions
Compensation expense			5,000
Digita Security LLC \| Developed technology
Acquisitions
Useful life of intangible assets	5 years
Digita Security LLC \| General and administrative
Acquisitions
Increase (decrease) in fair value of contingent consideration		$ 600	$ (3,100)

Goodwill and other intangible assets - Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019
Goodwill [Roll Forward]
Goodwill, Beginning Balance	$ 529,145	$ 501,145
Goodwill acquired	10,673	38,673
Goodwill, Ending Balance	$ 539,818	$ 539,818

Goodwill and other intangible assets - Intangible assets (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Gross Value	$ 302,290		$ 302,290		$ 302,290
Accumulated Amortization	92,170		92,170		67,191
Net Carrying Value	210,120		210,120		235,099
Amortization expense	8,300		25,000	$ 24,500
Impairment of goodwill	0	$ 0	0	0
Impairment of Intangible Assets	0	$ 0	$ 0	$ 0
Trademarks
Finite-Lived Intangible Assets [Line Items]
Useful Life			8 years
Gross Value	34,320		$ 34,320		34,320
Accumulated Amortization	12,383		12,383		9,167
Net Carrying Value	21,937		$ 21,937		$ 25,153
Weighted-Average Remaining Useful Life			5 years 1 month 6 days		5 years 9 months 18 days
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Value	214,320		$ 214,320		$ 214,320
Accumulated Amortization	51,259		51,259		37,564
Net Carrying Value	163,061		$ 163,061		$ 176,756
Weighted-Average Remaining Useful Life			9 years		9 years 8 months 12 days
Developed technology
Finite-Lived Intangible Assets [Line Items]
Useful Life			5 years		5 years
Gross Value	53,560		$ 53,560		$ 53,560
Accumulated Amortization	28,453		28,453		20,419
Net Carrying Value	25,107		$ 25,107		$ 33,141
Weighted-Average Remaining Useful Life			2 years 4 months 24 days		3 years 2 months 12 days
Non-competes
Finite-Lived Intangible Assets [Line Items]
Useful Life			2 years		2 years
Gross Value	90		$ 90		$ 90
Accumulated Amortization	75		75		41
Net Carrying Value	$ 15		$ 15		$ 49
Weighted-Average Remaining Useful Life			3 months 18 days		1 year 1 month 6 days
Maximum \| Trademarks
Finite-Lived Intangible Assets [Line Items]
Useful Life					8 years
Maximum \| Customer relationships
Finite-Lived Intangible Assets [Line Items]
Useful Life			12 years		12 years
Minimum \| Trademarks
Finite-Lived Intangible Assets [Line Items]
Useful Life					1 year
Minimum \| Customer relationships
Finite-Lived Intangible Assets [Line Items]
Useful Life			2 years		2 years

Debt (Details) - USD ($) $ in Thousands		3 Months Ended	9 Months Ended
Debt (Details) - USD ($) $ in Thousands	Jul. 27, 2020	Sep. 30, 2020	Sep. 30, 2020	Sep. 30, 2019	Jul. 26, 2020
Debt Instrument [Line Items]
Debt issuance costs			$ 1,264	$ 1,550
Debt issuance costs in other assets		$ 1,200	1,200
Minimum
Debt Instrument [Line Items]
Commitment fee, as a percent	0.20%
Maximum
Debt Instrument [Line Items]
Commitment fee, as a percent	0.35%
Base Rate [Member] \| Minimum
Debt Instrument [Line Items]
Applicable rate, as a percent	0.25%
Base Rate [Member] \| Maximum
Debt Instrument [Line Items]
Applicable rate, as a percent	1.00%
Fed Funds Effective Rate Overnight Index Swap Rate [Member]
Debt Instrument [Line Items]
Interest margin, as a percent	0.50%
London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Interest margin, as a percent	1.00%
London Interbank Offered Rate (LIBOR) [Member] \| Minimum
Debt Instrument [Line Items]
Applicable rate, as a percent	1.25%
London Interbank Offered Rate (LIBOR) [Member] \| Maximum
Debt Instrument [Line Items]
Applicable rate, as a percent	2.00%
Term Loan [Member]
Debt Instrument [Line Items]
Minimum increment in term loan facility	$ 5,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	150,000				$ 15,000
Debt issuance costs		1,300
Letter of Credit [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	25,000
Borrowings		$ 1,000	$ 1,000
Foreign Line of Credit [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 50,000

Commitments and Contingencies (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Related Party Transaction [Line Items]
Total rent expense	$ 1.3	$ 1.0	$ 4.0	$ 3.0
Contractual Obligation, Fiscal Year Maturity [Abstract]
2020	2.1		2.1
2021	9.3		9.3
2022	12.0		12.0
2023	3.2		3.2
Minority Owner Of Property Under Operating Lease [Member]
Related Party Transaction [Line Items]
Total rent expense	$ 0.3	$ 0.3	$ 0.8	$ 0.7

Net Loss per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Numerator:
Net loss	$ (5,093)	$ (4,670)	$ (13,806)	$ (21,351)
Weighted-average shares outstanding
Weighted-average shares used to compute net loss per share, basic and diluted	113,203,074	102,791,023	106,333,836	102,727,198
Basic and diluted net loss per share	$ (0.04)	$ (0.05)	$ (0.13)	$ (0.21)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Net Loss per Share - Antidilutive securities (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total potential dilutive securities	9,018,214	5,939,340	9,018,214	5,939,340
Stock options outstanding
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total potential dilutive securities	7,727,158	5,913,820	7,727,158	5,913,820
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total potential dilutive securities	1,291,056	25,520	1,291,056	25,520

Long-term incentive plan (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
Long-term incentive plan (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019	Dec. 31, 2018
Long-term incentive plan
Threshold cash return on investment upon termination event to determine vesting of performance shares			$ 1,515.0
Amount agreed to pay employees upon achievement of the plan conditions	$ 7.0	$ 5.9
Recognized compensation expense	$ 0.0	$ 0.0

Share-based compensation (Details) - shares	9 Months Ended
Share-based compensation (Details) - shares	Sep. 30, 2020	Jul. 21, 2020	Nov. 13, 2017
Omnibus Incentive Plan 2020 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate number of shares of common stock to be issued		14,800,000
Common stock reserved for additional grants under the Plan	13,545,464
Stock Option Plan 2017 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate number of shares of common stock to be issued			8,470,000
Common stock reserved for additional grants under the Plan	128,928
Options granted	0

Share-based compensation - Return target options activity (Details) - Performance-based options $ / shares in Units, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2020 USD ($) $ / shares shares	Dec. 31, 2019 USD ($) $ / shares shares
Options (in shares)
Outstanding Beginning Balance \| shares	3,687,664
Outstanding Ending Balance \| shares	3,687,664	3,687,664
Weighted Average Exercise Price
Outstanding Beginning Balance \| $ / shares	$ 6.75
Outstanding Ending Balance \| $ / shares	$ 6.75	$ 6.75
Weighted Average Remaining Contractual Term and Aggregate Intrinsic Value
Remaining term, options outstanding	8 years	8 years 9 months 18 days
Aggregate intrinsic value, options outstanding, beginning	$ 29,908
Aggregate intrinsic value, options outstanding, ending	113,786	$ 29,908
Unrecognized compensation expense
Unrecognized compensation expense	$ 33,000

Share-based compensation - Restricted stock units (Details) - USD ($) $ / shares in Units, $ in Millions		9 Months Ended
	Jul. 21, 2020	Sep. 30, 2020
Fair Value (Per unit)
Unrecognized compensation expense, RSUs		$ 31.1
Restricted stock units
Restricted stock (in units)
Outstanding, beginning balance		36,520
Granted		1,262,308
Forfeited		(7,772)
Outstanding, ending balance		1,291,056
Fair Value (Per unit)
Fair value, units outstanding, beginning		$ 12.60
Fair value, units granted		26.00
Fair value, units forfeited		26.00
Fair value, units outstanding, ending		$ 25.62
Weighted average period over which unrecognized compensation expense would be recognized		3 years 9 months 18 days
Omnibus Incentive Plan 2020 Plan [Member]
Restricted stock (in units)
Granted	1,256,538
Omnibus Incentive Plan 2020 Plan [Member] \| Restricted stock units
Fair Value (Per unit)
Vesting period		4 years
Stock Option Plan 2017 Plan [Member] \| Restricted stock units
Fair Value (Per unit)
Percentage of RSUs that vest		100.00%

Share-based compensation - Service based options activity (Details) - Service-based options $ / shares in Units, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2020 USD ($) $ / shares shares	Dec. 31, 2019 USD ($) $ / shares shares
Options (in shares)
Outstanding Beginning Balance \| shares	4,073,286
Granted \| shares	0
Exercised \| shares	(33,792)
Outstanding Ending Balance \| shares	4,039,494	4,073,286
Exercisable \| shares	2,400,693
Vested or expected to vest \| shares	4,039,494
Weighted Average Exercise Price
Outstanding Beginning Balance \| $ / shares	$ 5.65
Exercised \| $ / shares	5.49
Outstanding Ending Balance \| $ / shares	5.65	$ 5.65
Exercisable \| $ / shares	5.50
Vested or expected to vest \| $ / shares	$ 5.65
Weighted Average Remaining Contractual Term and Aggregate Intrinsic Value
Remaining term, options outstanding	7 years 3 months 18 days	8 years 1 month 6 days
Remaining term, options exercisable	7 years 2 months 12 days
Remaining term, options vested or expected to vest	7 years 3 months 18 days
Aggregate intrinsic value, options outstanding, beginning \| $	$ 37,520
Aggregate intrinsic value, options exercised \| $	498
Aggregate intrinsic value, options outstanding, ending \| $	129,098	$ 37,520
Aggregate intrinsic value, options exercisable \| $	77,080
Aggregate intrinsic value, options vested or expected to vest \| $	129,098
Total fair value, options vested in period \| $	$ 1,100

Share-based compensation - Share-based compensation expense (Details) - Service-based options - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 2,328	$ 598	$ 3,903	$ 1,816
Unrecognized compensation expense	4,000		$ 4,000
Weighted average period over which unrecognized compensation expense would be recognized			1 year 10 months 24 days
Cost of revenues \| Services/Professional Services
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	62		$ 62
Cost of revenues \| Subscription
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	314	38	390	156
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	675	112	897	348
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	523	99	821	284
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 754	$ 349	$ 1,733	$ 1,028

Income taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Income taxes (Details) - USD ($) $ in Millions	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income taxes
Effective income tax rate (as a percent)	26.70%	23.10%	27.00%	23.60%
Income tax benefit from loss on extinguishment of debt	$ 1.4
Effect of net operating loss carryback charges related to CARES Act			$ 1.6
Accrued liability, CARES Act	$ 2.7		$ 2.7

Related party transactions (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Jul. 27, 2020	Jul. 26, 2020	Jan. 30, 2019	Nov. 13, 2017
Term Loan [Member]
Related Party Transaction [Line Items]
Debt, Principle amount							$ 205.0	$ 205.0	$ 175.0
Revolving Credit Facility [Member]
Related Party Transaction [Line Items]
Maximum borrowing capacity						$ 150.0	$ 15.0
Amount of debt drawn					$ 0.0
JAMF Nation Global Foundation [Member]
Related Party Transaction [Line Items]
Amount of pledges to JAMF Nation Global Foundation	$ 0.0	$ 0.1	$ 0.0	$ 0.2
Accrued expenses to JAMF Nation Global Foundation	0.4		0.4		1.0
Vista [Member]
Related Party Transaction [Line Items]
Expenses incurred for related party transactions		0.3	0.3	0.9
Accounts payable to related parties					0.0
Vista [Member] \| Maximum
Related Party Transaction [Line Items]
Expenses incurred for related party transactions	0.1
Accounts payable to related parties	0.1		0.1
Vista Affiliates [Member]
Related Party Transaction [Line Items]
Expenses incurred for related party transactions	0.2	0.1	0.5	0.4
Accounts payable to related parties					0.0
Revenue from arrangement with related party	0.2	0.2	0.8	0.6
Accounts receivable from related party	0.1		0.1		0.0
Vista Affiliates [Member] \| Term Loan [Member]
Related Party Transaction [Line Items]
Debt outstanding					$ 34.9
Interest paid on term loan	0.5	$ 0.8	2.1	$ 2.8
Vista Affiliates [Member] \| Maximum
Related Party Transaction [Line Items]
Accounts payable to related parties	$ 0.1		$ 0.1