0001558370-21-006836 | 10-Q | XBRL Viewer

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Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2021	May 07, 2021
Document and Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2021
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		117,725,132
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Entity Central Index Key	0001721947
Amendment Flag	false

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 196,190	$ 194,868
Trade accounts receivable, net of allowances of $603 and $530 at March 31, 2021 and December 31, 2020, respectively	75,882	69,056
Income taxes receivable	632	632
Deferred contract costs, current	11,155	9,959
Prepaid expenses	15,009	13,283
Other current assets	2,325	1,113
Total current assets	301,193	288,911
Equipment and leasehold improvements, net	16,965	12,755
Goodwill	541,850	541,480
Other intangible assets, net	197,504	202,878
Deferred contract costs, noncurrent	28,774	26,770
Other assets	28,898	5,359
Total assets	1,115,184	1,078,153
Current liabilities:
Accounts payable	5,744	6,967
Accrued liabilities	28,131	31,574
Income taxes payable	1,153	713
Deferred revenues	167,868	160,443
Total current liabilities	202,896	199,697
Deferred revenues, noncurrent	53,711	45,507
Deferred tax liability, net	5,475	6,422
Other liabilities	33,839	11,046
Total liabilities	295,921	262,672
Stockholders' equity:
Common stock, $0.001 par value, 500,000,000 shares authorized at March 31, 2021 and December 31, 2020; 117,705,895 and 116,992,472 shares issued and outstanding at March 31, 2021 and December 31, 2020, respectively	118	117
Additional paid-in capital	909,966	903,116
Accumulated deficit	(90,821)	(87,752)
Total stockholders' equity	819,263	815,481
Total liabilities and stockholders' equity	$ 1,115,184	$ 1,078,153

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
CONSOLIDATED BALANCE SHEETS
Allowance	$ 603	$ 530
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	50,000,000	50,000,000
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	500,000,000
Common stock, shares issued	117,705,895	116,992,472
Common stock, shares outstanding	117,705,895	116,992,472

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Revenues [Abstract]
Revenue	$ 81,168	$ 60,390
Cost of revenue:
Amortization expense	2,777	2,677
Total cost of revenue	17,256	15,011
Gross profit	63,912	45,379
Operating expenses:
Sales and marketing	29,332	22,282
Research and development	15,626	12,617
General and administrative	16,105	11,289
Amortization expense	5,627	5,674
Total operating expenses	66,690	51,862
Income (loss) from operations	(2,778)	(6,483)
Interest expense, net	(55)	(4,778)
Foreign currency transaction loss	(171)	(304)
Other income, net		55
Loss before income tax benefit	(3,004)	(11,510)
Income tax benefit	(65)	3,220
Net loss	$ (3,069)	$ (8,290)
Net loss per share, basic and diluted	$ (0.03)	$ (0.08)
Weighted-average shares used to compute net loss per share, basic and diluted	117,386,322	102,860,545
Subscription
Revenues [Abstract]
Revenue	$ 74,923	$ 54,618
Cost of revenue:
Cost of revenue	12,014	9,248
Services/Professional Services
Revenues [Abstract]
Revenue	4,003	4,010
Cost of revenue:
Cost of revenue	2,465	3,086
License
Revenues [Abstract]
Revenue	$ 2,242	$ 1,762

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Total
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]
Exercise of stock options		103		103
Exercise of stock options (shares)	18,792
Share-based compensation		811		811
Net loss			(8,290)	(8,290)
Balance at Mar. 31, 2020	$ 103	569,670	(73,271)	496,502
Balance (shares) at Mar. 31, 2020	102,862,404
Balance at Dec. 31, 2020	$ 117	903,116	(87,752)	815,481
Balance (shares) at Dec. 31, 2020	116,992,472
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options	$ 1	4,018		4,019
Exercise of stock options (shares)	713,423
Share-based compensation		2,832		2,832
Net loss			(3,069)	(3,069)
Balance at Mar. 31, 2021	$ 118	$ 909,966	$ (90,821)	$ 819,263
Balance (shares) at Mar. 31, 2021	117,705,895

- 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	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash flows from operating activities
Net loss	$ (3,069)	$ (8,290)
Adjustments to reconcile net loss to cash provided by (used in) operating activities:
Depreciation and amortization expense	9,784	9,586
Amortization of deferred contract costs	3,296	2,090
Amortization of debt issuance costs	69	279
Non-cash lease expense	1,267
Provision for bad debt expense and returns	159	240
Share-based compensation	2,832	811
Deferred tax benefit	(758)	(2,564)
Adjustment to contingent consideration	300
Other	62	10
Changes in operating assets and liabilities:
Trade accounts receivable	(7,066)	220
Income tax receivable/payable	463	(789)
Prepaid expenses and other assets	(3,317)	(2,255)
Deferred contract costs	(6,496)	(4,788)
Accounts payable	(1,191)	(1,989)
Accrued liabilities	(7,694)	(4,928)
Deferred revenue	15,472	5,025
Other liabilities	(90)	(13)
Net cash provided by operating activities	4,023	(7,355)
Cash flows from investing activities
Acquisition, net of cash acquired	(3,041)
Purchases of equipment and leasehold improvements	(3,290)	(1,039)
Proceeds from sale of equipment and leasehold improvements	12
Net cash used in investing activities	(6,319)	(1,039)
Cash flows from financing activities
Cash paid for offering costs		(1,465)
Proceeds from the exercise of stock options	4,019	103
Net cash provided by financing activities	4,019	(1,362)
Effect of exchange rate changes on cash and cash equivalents	(401)
Net increase (decrease) in cash and cash equivalents	1,322	(9,756)
Cash and cash equivalents, beginning of period	194,868	32,433
Cash and cash equivalents, end of period	196,190	22,677
Supplemental disclosures of cash flow information:
Cash paid for interest	3	4,734
Cash paid for income taxes, net of refunds	351	216
Offering costs accrued but not yet paid		$ 2,378
Operating lease assets obtained in exchange for operating lease liabilities	$ (19)

Basis of presentation and description of business

3 Months Ended

Mar. 31, 2021

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.

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 March 31, 2021, funds controlled by Vista owned approximately 61.9% 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 initial public offering (“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.

Certain reclassifications of prior period amounts have been made to conform to the current presentation. In the fourth quarter of 2020, the Company reclassified on-premise subscription revenue from license revenue to subscription revenue in the consolidated statements of operations on a retroactive basis. The amount reclassified for the three months ended March 31, 2020 was $4.5 million. The revised presentation is consistent with our disaggregated revenue disclosure and is more consistent with how investors and other users of the financial statements evaluate overall subscription revenue. The reclassification had no impact on total revenue.

In 2020, the Company reclassified cash paid for offering costs of $1.5 million during the three months ended March 31, 2020 from operating activities to financing activities in the consolidated statements of cash flows as a result of the completion of our IPO in July 2020. The impact of the reclassification was not material to current or prior period financial statements.

Unaudited Interim Consolidated Financial Information

The accompanying interim consolidated balance sheet as of March 31, 2021, the consolidated statements of operations, of stockholders’ equity and of cash flows for the three months ended March 31, 2021 and 2020 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 months ended March 31, 2021 are not necessarily indicative of the results to be expected for the year ending December 31, 2021 or for any future period.

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 March 31,
	2021		2020

	(in thousands)
The Americas	$	61,258	$	47,026
Europe, the Middle East, India, and Africa		14,523		10,121
Asia Pacific		5,387		3,243
	$	81,168	$	60,390

Summary of significant accounting policies

3 Months Ended

Mar. 31, 2021

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 the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. Except for the accounting policies for leases that were updated as a result of adopting the new accounting standard, 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 months ended March 31, 2021. The following describes the impact of certain policies.

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 subscription and non-subscription categories to disaggregate those revenues that are term-based and renewable from those that are one-time in nature. Revenue from subscription and non-subscription contractual arrangements are as follows:


	Three Months Ended March 31,
	2021		2020

	(in thousands)
SaaS subscription and support and maintenance	$	66,669	$	50,078
On‑premise subscription		8,254		4,540
Subscription revenue		74,923		54,618
Professional services		4,003		4,010
Perpetual licenses		2,242		1,762
Non‑subscription revenue		6,245		5,772
Total revenue	$	81,168	$	60,390

Contract Balances

If revenue is recognized in advance of the right to invoice, a contract asset is recorded. The balances of contract assets were $1.2 million and $0.9 million as of March 31, 2021 and December 31, 2020, respectively.

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 March 31,
	2021		2020

	(in thousands)
Balance, beginning of the period	$	205,950	$	140,710
Revenue earned		(60,925)		(47,723)
Deferral of revenue		76,554		52,748
Balance, end of the period	$	221,579	$	145,735

There were no significant changes to our contract assets and liabilities during the three months ended March 31, 2021 and 2020 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 March 31, 2021 and December 31, 2020, the Company had $243.1 million and $224.5 million, respectively, of remaining performance

obligations, with 78% and 80%, 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 in the consolidated balance sheets when the period of benefit is determined to be greater than one year.

Total amortization of contract costs for the three months ended March 31, 2021 and 2020 was $3.3 million and $2.1 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 months ended March 31, 2021 and 2020.

Concentration of Credit Risk

For the three months ended March 31, 2021, the Company had one distributor that accounted for more than 10% of total net revenues. Total receivables related to this distributor were $17.3 million as of March 31, 2021. For the three months ended March 31, 2020, the Company had two distributors that accounted for more than 10% of total net revenues. Total receivables related to these distributors were $19.8 million as of December 31, 2020.

No single end customer accounted for more than 10% of total revenue for the three months ended March 31, 2021 and 2020.

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. 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.

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 adoption of this standard is not expected to have a material impact on the Company’s consolidated financial statements.

Adoption of new accounting pronouncements

Leases

In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) 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 adopted the new lease standard on January 1, 2021 using the optional transition method to the modified retrospective approach. Under this transition provision, results for reporting periods beginning on January 1, 2021 are presented under ASC Topic 842, Leases (“ASC 842”) while prior period amounts continue to be reported and disclosed in accordance with the Company’s historical accounting treatment under ASC Topic 840, Leases (“ASC 840”).

To reduce the burden of adoption and ongoing compliance with ASC 842, a number of practical expedients and policy elections are available under the new guidance. The Company elected the “package of practical expedients” permitted under the transition guidance, which among other things, did not require reassessment of whether contracts entered into prior to adoption are or contain leases, and allowed carryforward of the historical lease classification for existing leases. The Company has not elected to adopt the “hindsight” practical expedient, and therefore measured the right-of-use (“ROU”) asset and lease liability using the remaining portion of the lease term at adoption on January 1, 2021.

The Company made an accounting policy election under ASC 842 not to recognize ROU assets and lease liabilities for leases with a term of twelve months or less. For all other leases, the Company recognizes ROU assets and lease liabilities based on the present value of lease payments over the lease term at the commencement date of the lease (or January 1, 2021 for existing leases upon the adoption of ASC 842). The ROU assets also include any initial direct costs incurred and lease payments made at or before the commencement date and are reduced by any lease incentives.

Future lease payments may include fixed rent escalation clauses or payments that depend on an index (such as the consumer price index). Subsequent changes to an index and other periodic market-rate adjustments to base rent are recorded in variable lease expense in the period incurred.

The Company has made an accounting policy election to account for lease and non-lease components in its contracts as a single lease component for all asset classes. The non-lease components typically represent additional services transferred to the Company, such as common area maintenance for real estate, which are variable in nature and recorded in variable lease expense in the period incurred.

The Company uses its incremental borrowing rate to determine the present value of lease payments as the Company’s leases do not have a readily determinable implicit discount rate. The incremental borrowing rate is the rate of interest the Company would have to pay to borrow on a collateralized basis over a similar term and amount in a similar economic environment. Judgement is applied in assessing factors such as Company specific credit risk, lease term, nature and quality of the underlying collateral, currency and economic environment in determining the incremental borrowing rate to apply to each lease.

Upon adoption, the Company recorded ROU assets and lease liabilities of approximately $25.0 million and $28.6 million, respectively, related to the Company’s operating leases. The adoption of the new lease standard did not materially impact our consolidated statements of operations or consolidated statements of cash flows. See Note 6 for more information.

Debt with Conversion and Other Options and Contracts in Entity’s Own Equity

In August 2020, the FASB issued ASU No. 2020-06, Debt — Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging — Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity (“ASU 2020-06”), which simplifies the accounting for certain financial instruments with characteristics of liabilities and equity. Among other changes, the standard eliminates the beneficial conversion and cash conversion accounting models for convertible instruments. As a result, entities will account for a convertible debt instrument wholly as debt unless the instrument contains features that require bifurcation as a derivative in accordance with ASC Topic 815, Derivatives and Hedging, or a convertible debt instrument was issued at a substantial premium. In addition, the amendments also require the if-converted method to be applied for all convertible instruments when calculating diluted earnings per share. The standard is effective for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. Early adoption is permitted. The Company early adopted the new standard on January 1, 2021. The adoption of the standard did not have a material impact on the Company’s consolidated financial statements.

Financial instruments fair value

3 Months Ended

Mar. 31, 2021

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, Fair Value Measurement (“ASC 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 Company invests in money market funds and U.S. Treasuries with original or remaining maturities at the time of purchase of three months or less, which are measured and recorded at fair value on a recurring basis. Money market funds are valued based on quoted market prices in active markets and classified within Level 1 of the fair value

hierarchy. U.S. Treasuries include treasury bills that generally mature within 30 days and are classified within Level 1 of the fair value hierarchy. The fair value of these financial instruments were as follows:


	March 31, 2021
	Level 1		Level 2		Level 3			Total

	(in thousands)
Cash equivalents:
Money market funds	$	150,006	$	—	$	—	$	150,006
Total cash equivalents	$	150,006	$	—	$	—	$	150,006

	December 31, 2020
	Level 1		Level 2		Level 3			Total

	(in thousands)
Cash equivalents:
Money market funds	$	100,000	$	—	$	—	$	100,000
U.S. Treasuries		25,000		—		—		25,000
Total cash equivalents	$	125,000	$	—	$	—	$	125,000

The carrying value of accounts receivable and accounts payable approximate their fair value due to their short maturities and are excluded from the tables above.

- 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

3 Months Ended

Mar. 31, 2021

Acquisitions

Acquisitions

Note 4. Acquisitions

cmdReporter

On February 26, 2021, the Company entered into an asset purchase agreement with cmdSecurity Inc. (“cmdSecurity”) to acquire certain cmdSecurity assets, including cmdReporter, a suite of security and compliance tools purpose-built for macOS. With cmdReporter, the Company will further extend the security capabilities of its expansive Apple Enterprise Management platform. cmdSecurity’s software complements 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, Business Combinations (“ASC 805”). The final aggregate purchase price was approximately $3.4 million. This acquisition was funded by the Company’s cash on hand and includes future contingent consideration due to the sellers. 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 cmdSecurity assembled workforce and was not material. The acquired intangible assets and goodwill are deductible for income tax purposes.

At the time of the acquisition, the contingent consideration was valued at $0.4 million, which was based on the acquired business signing new business or renewing acquired contracts during the 90 days following the close of the acquisition. The estimated fair value of these contingent payments is determined using projected contract wins, which uses Level 3 inputs for fair value measurements, including assumptions about the probability of closing contracts based on their current stage in the sales process.

Substantially all of the purchase price consideration related to the fair value of the acquired separately identifiable intangibles assets, which related to acquired developed technology and in-process research and development (“IPR&D”). The fair value of the identifiable intangible assets was estimated using the replacement cost method, whereby the components of the acquired intangibles were reviewed to determine the cumulative cost of development for each component, inclusive of a developer’s profit and an entrepreneurial incentive. The cumulative cost of development was not discounted to account for obsolescence factor as the replacement cost accounted for present day development. The developed technology will be amortized over its estimated weighted-average useful life, which was determined to be

5.0 years. The IPR&D is an indefinite lived intangible asset that is not amortized, but will be evaluated at least annually for impairment. For more details on the intangible assets, see Note 5.

Acquisition-related expenses were expensed as incurred and totaled $0.1 million for the three months ended March 31, 2021. These expenses were recognized as acquisition costs in general and administrative expenses in the consolidated statement of operations.

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


Cash consideration	$	3,041
Contingent consideration		359
Final aggregate purchase price	$	3,400

Intangible assets acquired:
Developed technology	$	2,630
IPR&D		400
Goodwill		370
Total purchase consideration	$	3,400

Digita Security LLC

In 2019, the Company recorded contingent consideration in connection with its purchase of the outstanding membership interests of Digita. 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 the probability of growth of subscription services and the related pricing of the services offered. During the three months ended March 31, 2021, the fair value of the contingent consideration was increased by $0.3 million, which was reflected in general and administrative expenses in the consolidated statement of operations. The adjustment for the three months ended March 31, 2021 primarily reflects an increase in the liability due to updated market assumptions. As of March 31, 2021 and December 31, 2020, the fair value of the contingent consideration was $8.5 million and $8.2 million, respectively, which is included in other liabilities in the consolidated balance sheets.

Goodwill and other intangible assets

3 Months Ended

Mar. 31, 2021

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 March 31,
	2021		2020

	(in thousands)
Goodwill, beginning of period	$	541,480	$	539,818
Goodwill acquired		370		—
Goodwill, end of period	$	541,850	$	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	8 years	$	34,320	$	13,454	$	20,866	4.8 years
Customer relationships	2 - 12 years		214,428		55,810		158,618	8.7 years
Developed technology	5 years		54,563		31,173		23,390	2.3 years
Non‑competes	2 years		90		86		4	0.1 years
Balance, December 31, 2020		$	303,401	$	100,523	$	202,878

Trademarks	8 years	$	34,300	$	14,506	$	19,794	4.6 years
Customer relationships	2 - 12 years		214,408		60,342		154,066	8.5 years
Developed technology	5 years		57,193		33,949		23,244	2.4 years
Non‑competes	2 years		90		90		—	—
In-process research and development	Indefinite		400		—		400
Balance, March 31, 2021		$	306,391	$	108,887	$	197,504

Amortization expense was $8.4 million for both the three months ended March 31, 2021 and 2020.

There were no impairments to goodwill or intangible assets recorded for the three months ended March 31, 2021 and 2020.

Leases

3 Months Ended

Mar. 31, 2021

Leases [Abstract]

Leases

Note 6. Leases

The Company determines if an arrangement is or contains a lease at inception, which is the date on which the terms of the contract are agreed to and the agreement creates enforceable rights and obligations. Under ASC 842, a contract is or contains a lease when (i) explicitly or implicitly identified assets have been deployed in the contract and (ii) the customer obtains substantially all of the economic benefits from the use of that underlying asset and directs how and for what purpose the asset is used during the term of the contract. The Company also considers whether its service arrangements include the right to control the use of an asset. See Note 2 for more information on the Company’s accounting policies for leases.

The Company leases office facilities and vehicles under operating lease agreements that have initial terms ranging from 1 to 9 years. Some leases include one or more options to renew, generally at our sole discretion, with renewal terms that can extend the lease term up to 10 years. In addition, certain leases contain termination options, where the rights to terminate are held by either the Company, the lessor, or both parties. These options to extend or terminate a lease are included in the lease terms when it is reasonably certain that the Company will exercise that option. The Company’s leases generally do not contain any material restrictive covenants or residual value guarantees. The Company also leases office equipment under a finance lease agreement with a term of 4 years. The Company’s finance lease was not material to the consolidated financial statements as of March 31, 2021.

Supplemental balance sheet information related to the Company’s operating leases is as follows:


Leases	Balance Sheet Classification	March 31, 2021
		(in thousands)
Assets
Operating lease assets	Other assets	$	23,868

Liabilities
Operating lease liabilities - current	Accrued liabilities	$	4,870
Operating lease liabilities - non-current	Other liabilities		23,184
Total operating lease liabilities		$	28,054

The weighted-average remaining term of the Company’s operating leases was 6.5 years as of March 31, 2021. The weighted-average discount rate used to measure the present value of the operating lease liabilities was 3.5% as of March 31, 2021.

The components of lease expense were as follows:


	Three Months Ended
	March 31, 2021
	(in thousands)
Operating lease cost	$	1,514
Short-term lease cost		52
Variable lease cost		439
Total lease expense	$	2,005

Operating lease cost is recognized on a straight-line basis over the lease term. The Company leases certain office facilities with a related party, including the office space in Eau Claire, Wisconsin. Operating lease cost with related parties was $0.3 million for the three months ended March 31, 2021.

Total rent expense, including the Company’s share of the lessors’ operating expenses, was $1.4 million for the three months ended March 31, 2020. Rent expense with related parties, including the Company’s share of the lessors’ operating expenses, was $0.3 million for the three months ended March 31, 2020.

For the three months ended March 31, 2021, operating cash flows included $1.2 million of cash paid for operating lease liabilities.

Maturities of the Company’s operating lease liabilities as of March 31, 2021 were as follows:


	Operating Leases
	(in thousands)
Years ending December 31:
2021 (remaining nine months)	$	4,326
2022		5,407
2023		5,331
2024		4,589
2025		2,519
Thereafter		9,482
Total lease payments		31,654
Less: imputed interest		3,600
Total present value of lease liabilities	$	28,054

Debt

3 Months Ended

Mar. 31, 2021

Debt Disclosure [Abstract]

Debt

Note 7. Debt

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 as of both March 31, 2021 and December 31, 2020. As of both March 31, 2021 and December 31, 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 are amortized to interest expense over the term of the New Credit Agreement. As of both March 31, 2021 and December 31, 2020, debt issuance costs of $1.1 million were included in other assets in the consolidated balance sheets.

Commitments and Contingencies

3 Months Ended

Mar. 31, 2021

Commitments and Contingencies

Commitments and Contingencies

Note 8. Commitments and contingencies

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 liabilities for contingencies recorded as of March 31, 2021 and December 31, 2020.

Net Loss per Share

3 Months Ended

Mar. 31, 2021

Net Loss per Share

Net Loss per Share

Note 9. Net loss per share

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


	Three Months Ended March 31,
	2021		2020

	(in thousands, except share and per
	share amounts)
Numerator:
Net loss	$	(3,069)	$	(8,290)
Denominator:
Weighted‑average shares used to compute net loss per share, basic and diluted		117,386,322		102,860,545
Basic and diluted net loss per share	$	(0.03)	$	(0.08)

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 months ended March 31, 2021 and 2020, 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 March 31,
	2021	2020
Stock options outstanding	6,521,067	7,742,158
Unvested restricted stock units	1,374,401	36,520
Total potential dilutive securities	7,895,468	7,778,678

Share-based compensation

3 Months Ended

Mar. 31, 2021

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. We initially reserved 14,800,000 shares of our common stock for issuance under the 2020 Plan. The total number of shares reserved for issuance under the 2020 Plan increases on January 1^st of each of the first 10 calendar years during the term of the 2020 Plan by the lesser of: (i) a number of shares of our common stock equal to 4% of the total number of shares of our common stock outstanding on December 31^st of the preceding calendar year or (ii) a number of shares of our common stock as determined by our board of directors. The maximum number of shares of common stock available for issuance under the 2020 Plan was 19,479,699 shares as of January 1, 2021. As of March 31, 2021, 18,105,298 shares of common stock are reserved for additional grants under the 2020 Plan.

The 2017 Stock Option Plan (“2017 Option Plan”) became effective November 13, 2017 upon the approval of the board of directors and, prior to the adoption of the 2020 Plan, served 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. As of March 31, 2021, 128,928 shares of common stock are reserved for additional grants under the 2017 Option 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 three months ended March 31, 2021.

The table below summarizes return target options activity for the three months ended March 31, 2021:


				Weighted-
		Weighted-		Average	Aggregate
		Average		Remaining	Intrinsic
		Exercise		Contractual	Value
	Options	Price		Term (Years)	(in thousands)
Outstanding, December 31, 2020	3,687,664	$	6.75	7.8	$	85,444
Granted	—		—			—
Exercised	—		—			—
Forfeitures	—		—			—
Outstanding, March 31, 2021	3,687,664	$	6.75	7.5	$	105,358
Options exercisable at March 31, 2021	—	$	—	—	$	—
Vested or expected to vest at March 31, 2021	—	$	—	—	$	—

There was approximately $33.0 million of unrecognized compensation expense related to these return target options as of March 31, 2021. 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.

Restricted stock unit (“RSU”) activity for the three months ended March 31, 2021 was as follows:


		Per Unit
	Units	Fair Value
Outstanding, December 31, 2020	1,293,107	$	26.34
Granted	88,764		37.37
Restrictions lapsed	—		—
Forfeited	(7,470)		26.00
Outstanding, March 31, 2021	1,374,401	$	27.05

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 $31.3 million of total unrecognized compensation cost related to unvested restricted stock that is expected to be recognized over a weighted-average period of 3.4 years as of March 31, 2021.

The table below summarizes the service-based option activity for the three months ended March 31, 2021:


				Weighted‑
		Weighted‑		Average	Aggregate
		Average		Remaining	Intrinsic
		Exercise		Contractual	Value
	Options	Price		Term (Years)	(in thousands)
Outstanding, December 31, 2020	3,546,826	$	5.65	7.1	$	86,098
Granted	—		—			—
Exercised	(713,423)		5.63			21,328
Forfeitures	—		—			—
Outstanding, March 31, 2021	2,833,403	$	5.65	6.8	$	84,072
Options exercisable at March 31, 2021	1,790,693	$	5.50	6.7	$	53,395
Vested or expected to vest at March 31, 2021	2,833,403	$	5.65	6.8	$	84,072

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 three months ended March 31, 2021 was $0.7 million. There was $2.7 million of unrecognized compensation expense related to service-based options that is expected to be recognized over a weighted-average period of 1.5 years as of March 31, 2021.

The Company recognized stock-based compensation expense as follows:


	Three Months Ended March 31,
	2021		2020

	(in thousands)
Cost of revenue:
Subscription	$	324	$	38
Services		77		—
Sales and marketing		842		111
Research and development		778		157
General and administrative		811		505
	$	2,832	$	811

Income taxes

3 Months Ended

Mar. 31, 2021

Income taxes

Income taxes

Note 11. Income taxes

The Company’s effective tax rates for the three months ended March 31, 2021 and 2020 were (2.2)% and 28.0%, respectively. The effective tax rate for the three months ended March 31, 2021 was lower than the prior year period due to Section 162(m) of the Internal Revenue Code, stock option activity and the domestic valuation allowance. The effective tax rate for the three months ended March 31, 2021 differs from the statutory rate primarily as a result of the domestic valuation allowance. The effective tax rate for the three months ended March 31, 2021 was impacted by less than $0.1 million of discrete income tax expense. The Company’s annual effective tax rates for the three months ended March 31, 2021 and 2020 were (0.5)% and 25.2%, respectively.

- 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

3 Months Ended

Mar. 31, 2021

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 for the three months ended March 31, 2021. The Company did not make any pledges to the JNGF for the three months ended March 31, 2020. As of March 31, 2021 and December 31, 2020, the Company accrued $0.4 million and $0.9 million, respectively, related to JNGF pledges, which are included in accrued liabilities in the consolidated balance sheets. 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 6 for further discussion of this lease agreement. The Company may engage in transactions in the ordinary course of business with other companies whose directors or officers may also serve as directors or officers for the Company. The Company carries out these transactions on customary terms.

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 were less than $0.1 million and $0.2 million for the three months ended March 31, 2021 and 2020, respectively. The Company had less than $0.1 million in accounts payable related to these expenses as of both March 31, 2021 and December 31, 2020.

The Company also has revenue arrangements with Vista affiliates. The Company recognized revenue related to these arrangements of $0.2 million and $0.3 million for the three months ended March 31, 2021 and 2020, respectively. The Company had $0.2 million in accounts receivable related to these agreements as of March 31, 2021 and $0.3 million in accounts receivable related to these agreements as of December 31, 2020.

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 March 31, 2021 and 2020, respectively. The Company had less than $0.1 million in accounts payable related to these expenses as of March 31, 2021 and $0.1 million in accounts payable related to these expenses as of December 31, 2020.

Prior to its termination and repayment in full on July 27, 2020, the Company was party to a term loan facility (the “Prior Term Loan”) and revolving credit facility with a consortium of lenders for a principal amount of $205.0 million and principal committed amount of $15.0 million, respectively. During the three months ended March 31, 2020, affiliates of Vista were paid $0.8 million in interest on the portion of the Prior Term Loan held by them.

Subsequent event

3 Months Ended

Mar. 31, 2021

Subsequent events

Subsequent events

Note 13. Subsequent event

On May 11, 2021, the Company announced that it has signed a definitive agreement (the “Merger Agreement”) to acquire Wandera, Inc. (“Wandera”), a leader in zero trust cloud security and access for mobile devices. Under the terms of the Merger Agreement, Jamf will acquire Wandera for total cash consideration of $400.0 million subject to customary adjustments, including working capital, indebtedness, closing cash on hand and transaction expenses. The total consideration consists of an initial payment of $350.0 million at close and deferred consideration of $50.0 million to be paid in $25.0 million increments on October 1, 2021 and December 15, 2021. The transaction is expected to close during the third quarter of 2021, subject to the satisfaction of customary closing conditions, including required U.S. regulatory approvals.

Summary of significant accounting policies (Policies)

3 Months Ended

Mar. 31, 2021

Summary of significant accounting policies

Principles of consolidation

Revenue recognition

Disaggregation of Revenue


	Three Months Ended March 31,
	2021		2020

	(in thousands)
SaaS subscription and support and maintenance	$	66,669	$	50,078
On‑premise subscription		8,254		4,540
Subscription revenue		74,923		54,618
Professional services		4,003		4,010
Perpetual licenses		2,242		1,762
Non‑subscription revenue		6,245		5,772
Total revenue	$	81,168	$	60,390

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 March 31,
	2021		2020

	(in thousands)
Balance, beginning of the period	$	205,950	$	140,710
Revenue earned		(60,925)		(47,723)
Deferral of revenue		76,554		52,748
Balance, end of the period	$	221,579	$	145,735

There were no significant changes to our contract assets and liabilities during the three months ended March 31, 2021 and 2020 outside of our sales activities.

Remaining Performance Obligations

obligations, with 78% and 80%, 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

Total amortization of contract costs for the three months ended March 31, 2021 and 2020 was $3.3 million and $2.1 million, respectively.

Concentration of Credit Risk

No single end customer accounted for more than 10% of total revenue for the three months ended March 31, 2021 and 2020.

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

Recently issued accounting pronouncements not yet adopted

Financial Instruments — Credit Losses

Reference Rate Reform

Adoption of new accounting pronouncements

Leases

Debt with Conversion and Other Options and Contracts in Entity’s Own Equity

- 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
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-Paragraph 4
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-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
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-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)

3 Months Ended

Mar. 31, 2021

Basis of presentation and description of business

Schedule of revenue by geographic location



	Three Months Ended March 31,
	2021		2020

	(in thousands)
The Americas	$	61,258	$	47,026
Europe, the Middle East, India, and Africa		14,523		10,121
Asia Pacific		5,387		3,243
	$	81,168	$	60,390

Summary of significant accounting policies (Tables)

3 Months Ended

Mar. 31, 2021

Summary of significant accounting policies

Schedule of disaggregation of revenue


	Three Months Ended March 31,
	2021		2020

	(in thousands)
SaaS subscription and support and maintenance	$	66,669	$	50,078
On‑premise subscription		8,254		4,540
Subscription revenue		74,923		54,618
Professional services		4,003		4,010
Perpetual licenses		2,242		1,762
Non‑subscription revenue		6,245		5,772
Total revenue	$	81,168	$	60,390

Schedule of changes in contract assets and liabilities


	Three Months Ended March 31,
	2021		2020

	(in thousands)
Balance, beginning of the period	$	205,950	$	140,710
Revenue earned		(60,925)		(47,723)
Deferral of revenue		76,554		52,748
Balance, end of the period	$	221,579	$	145,735

Financial instruments fair value (Tables)

3 Months Ended

Mar. 31, 2021

Financial instruments fair value

Fair Value, Assets Measured on Recurring Basis [Table Text Block]


	March 31, 2021
	Level 1		Level 2		Level 3			Total

	(in thousands)
Cash equivalents:
Money market funds	$	150,006	$	—	$	—	$	150,006
Total cash equivalents	$	150,006	$	—	$	—	$	150,006

	December 31, 2020
	Level 1		Level 2		Level 3			Total

	(in thousands)
Cash equivalents:
Money market funds	$	100,000	$	—	$	—	$	100,000
U.S. Treasuries		25,000		—		—		25,000
Total cash equivalents	$	125,000	$	—	$	—	$	125,000

Acquisitions (Tables)

3 Months Ended

Mar. 31, 2021

Acquisitions

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


Cash consideration	$	3,041
Contingent consideration		359
Final aggregate purchase price	$	3,400

Intangible assets acquired:
Developed technology	$	2,630
IPR&D		400
Goodwill		370
Total purchase consideration	$	3,400

Goodwill and other intangible assets (Tables)

3 Months Ended

Mar. 31, 2021

Goodwill and other intangible assets

Schedule of changes in carrying amount of goodwill


	Three Months Ended March 31,
	2021		2020

	(in thousands)
Goodwill, beginning of period	$	541,480	$	539,818
Goodwill acquired		370		—
Goodwill, end of period	$	541,850	$	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	8 years	$	34,320	$	13,454	$	20,866	4.8 years
Customer relationships	2 - 12 years		214,428		55,810		158,618	8.7 years
Developed technology	5 years		54,563		31,173		23,390	2.3 years
Non‑competes	2 years		90		86		4	0.1 years
Balance, December 31, 2020		$	303,401	$	100,523	$	202,878

Trademarks	8 years	$	34,300	$	14,506	$	19,794	4.6 years
Customer relationships	2 - 12 years		214,408		60,342		154,066	8.5 years
Developed technology	5 years		57,193		33,949		23,244	2.4 years
Non‑competes	2 years		90		90		—	—
In-process research and development	Indefinite		400		—		400
Balance, March 31, 2021		$	306,391	$	108,887	$	197,504

Leases (Tables)

3 Months Ended

Mar. 31, 2021

Leases [Abstract]

Schedule of supplemental balance sheet information related to operating leases


Leases	Balance Sheet Classification	March 31, 2021
		(in thousands)
Assets
Operating lease assets	Other assets	$	23,868

Liabilities
Operating lease liabilities - current	Accrued liabilities	$	4,870
Operating lease liabilities - non-current	Other liabilities		23,184
Total operating lease liabilities		$	28,054

Lease, Cost [Table Text Block]


	Three Months Ended
	March 31, 2021
	(in thousands)
Operating lease cost	$	1,514
Short-term lease cost		52
Variable lease cost		439
Total lease expense	$	2,005

Lessee, Operating Lease, Liability, Maturity [Table Text Block]


	Operating Leases
	(in thousands)
Years ending December 31:
2021 (remaining nine months)	$	4,326
2022		5,407
2023		5,331
2024		4,589
2025		2,519
Thereafter		9,482
Total lease payments		31,654
Less: imputed interest		3,600
Total present value of lease liabilities	$	28,054

Net Loss per Share (Tables)

3 Months Ended

Mar. 31, 2021

Net Loss per Share

Schedule of computation of basic and diluted net loss per share


	Three Months Ended March 31,
	2021		2020

	(in thousands, except share and per
	share amounts)
Numerator:
Net loss	$	(3,069)	$	(8,290)
Denominator:
Weighted‑average shares used to compute net loss per share, basic and diluted		117,386,322		102,860,545
Basic and diluted net loss per share	$	(0.03)	$	(0.08)

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


	Three Months Ended March 31,
	2021	2020
Stock options outstanding	6,521,067	7,742,158
Unvested restricted stock units	1,374,401	36,520
Total potential dilutive securities	7,895,468	7,778,678

Share-based compensation (Tables)

3 Months Ended

Mar. 31, 2021

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

Summary of restricted stock units activity


		Per Unit
	Units	Fair Value
Outstanding, December 31, 2020	1,293,107	$	26.34
Granted	88,764		37.37
Restrictions lapsed	—		—
Forfeited	(7,470)		26.00
Outstanding, March 31, 2021	1,374,401	$	27.05

Schedule of stock based compensation


	Three Months Ended March 31,
	2021		2020

	(in thousands)
Cost of revenue:
Subscription	$	324	$	38
Services		77		—
Sales and marketing		842		111
Research and development		778		157
General and administrative		811		505
	$	2,832	$	811

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, 2020	3,546,826	$	5.65	7.1	$	86,098
Granted	—		—			—
Exercised	(713,423)		5.63			21,328
Forfeitures	—		—			—
Outstanding, March 31, 2021	2,833,403	$	5.65	6.8	$	84,072
Options exercisable at March 31, 2021	1,790,693	$	5.50	6.7	$	53,395
Vested or expected to vest at March 31, 2021	2,833,403	$	5.65	6.8	$	84,072

Return target 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, 2020	3,687,664	$	6.75	7.8	$	85,444
Granted	—		—			—
Exercised	—		—			—
Forfeitures	—		—			—
Outstanding, March 31, 2021	3,687,664	$	6.75	7.5	$	105,358
Options exercisable at March 31, 2021	—	$	—	—	$	—
Vested or expected to vest at March 31, 2021	—	$	—	—	$	—

Basis presentation and description of business - Acquisition and Basis of presentation (Details) - USD ($) $ in Thousands		3 Months Ended
	Nov. 13, 2017	Mar. 31, 2021	Mar. 31, 2020
Acquisitions
Revenue		$ 81,168	$ 60,390
Net Cash Provided by (Used in) Operating Activities		4,023	(7,355)
Net cash provided by financing activities		4,019	(1,362)
License
Acquisitions
Revenue		2,242	1,762
Subscription
Acquisitions
Revenue		$ 74,923	54,618
Classification Of On-Premise Subscription Revenue [Member] \| Revision of Prior Period, Reclassification, Adjustment [Member] \| License
Acquisitions
Revenue			(4,500)
Classification Of On-Premise Subscription Revenue [Member] \| Revision of Prior Period, Reclassification, Adjustment [Member] \| Subscription
Acquisitions
Revenue			4,500
Classification Of Cash Paid For Offering Costs [Member] \| Revision of Prior Period, Reclassification, Adjustment [Member]
Acquisitions
Net Cash Provided by (Used in) Operating Activities			1,500
Net cash provided by financing activities			$ (1,500)
Vista Equity Partners [Member]
Acquisitions
Aggregate purchase price	$ 733,800
Ownership, as a percent		61.90%

Basis of presentation and description of business - Segment (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2021 USD ($) segment	Mar. 31, 2020 USD ($)
Disaggregation of Revenue [Line Items]
Number of operating segment \| segment	1
Number of reportable segment \| segment	1
Revenue	$ 81,168	$ 60,390
The Americas
Disaggregation of Revenue [Line Items]
Revenue	61,258	47,026
Europe, Middle East, India, and Africa
Disaggregation of Revenue [Line Items]
Revenue	14,523	10,121
Asia Pacific
Disaggregation of Revenue [Line Items]
Revenue	$ 5,387	$ 3,243

- 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 - Disaggregation of revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Disaggregation of Revenue [Line Items]
Revenue	$ 81,168	$ 60,390
Recurring Revenue
Disaggregation of Revenue [Line Items]
Revenue	74,923	54,618
Non-recurring Revenue
Disaggregation of Revenue [Line Items]
Revenue	6,245	5,772
Subscription
Disaggregation of Revenue [Line Items]
Revenue	74,923	54,618
Subscription \| Recurring Revenue
Disaggregation of Revenue [Line Items]
Revenue	66,669	50,078
Services/Professional Services
Disaggregation of Revenue [Line Items]
Revenue	4,003	4,010
Services/Professional Services \| Non-recurring Revenue
Disaggregation of Revenue [Line Items]
Revenue	4,003	4,010
License
Disaggregation of Revenue [Line Items]
Revenue	2,242	1,762
License \| Recurring Revenue
Disaggregation of Revenue [Line Items]
Revenue	8,254	4,540
License \| Non-recurring Revenue
Disaggregation of Revenue [Line Items]
Revenue	$ 2,242	$ 1,762

- Definition

+ References

+ Details

Summary of significant accounting policies - Contract balances (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Summary of significant accounting policies
Contract asset balance	$ 1,200		$ 900
Change in Contract with Customer, Liability [Abstract]
Balance, beginning of the period	205,950	$ 140,710
Revenue earned	(60,925)	(47,723)
Deferral of revenue	76,554	52,748
Balance, end of the period	$ 221,579	$ 145,735

Summary of significant accounting policies - Remaining performance obligations (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining Performance Obligation, Revenue	$ 243.1	$ 224.5
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining Performance Obligation, Revenue Recognition Percentage		80.00%
Remaining Performance Obligation, Revenue Recognition Period		12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining Performance Obligation, Revenue Recognition Percentage	78.00%
Remaining Performance Obligation, Revenue Recognition Period	12 months

Summary of significant accounting policies - Deferred contract costs, R&D, Advertising, Interest (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Summary of significant accounting policies
Total amortization of contract costs	$ 3.3	$ 2.1
Impairment losses	$ 0.0	$ 0.0

Summary of significant accounting policies - Concentration of risk (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2021 USD ($) item	Mar. 31, 2020 item	Dec. 31, 2020 USD ($)
Concentration Risk [Line Items]
Allowance	$ 603		$ 530
Trade accounts receivable, net	$ 75,882		69,056
Revenue from Contract with Customer Benchmark [Member] \| Credit Concentration Risk [Member]
Concentration Risk [Line Items]
Number of significant distributors \| item	1	2
Accounts Receivable [Member] \| Credit Concentration Risk [Member]
Concentration Risk [Line Items]
Trade accounts receivable, net	$ 17,300		$ 19,800

Summary of significant accounting policies - Recent pronouncements (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Lease, Practical Expedient, Use of Hindsight [true false]	false
Lease, Practical Expedients, Package [true false]	true
Lease, Practical Expedient, Lessor Single Lease Component [true false]	true
Operating Lease, Right-of-Use Asset	$ 23,868
Operating Lease, Liability	$ 28,054
Revision of Prior Period, Accounting Standards Update, Adjustment [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating Lease, Right-of-Use Asset		$ 25,000
Operating Lease, Liability		$ 28,600

Financial instruments fair value (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure	$ 150,006	$ 125,000
Money Market Funds [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure	150,006	100,000
US Treasury Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure		25,000
Fair Value, Recurring [Member] \| Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure	150,006	125,000
Fair Value, Recurring [Member] \| Money Market Funds [Member] \| Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure	$ 150,006	100,000
Fair Value, Recurring [Member] \| US Treasury Securities [Member] \| Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure		$ 25,000

Acquisitions (Details) - USD ($) $ in Thousands		3 Months Ended
Acquisitions (Details) - USD ($) $ in Thousands	Feb. 26, 2021	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Acquisitions
Cash paid		$ 3,041
Goodwill		541,850	$ 541,480	$ 539,818	$ 539,818
Increase (decrease) in fair value of contingent consideration		300
Digita Security LLC
Acquisitions
Maximum contingent consideration					$ 15,000
Increase (decrease) in fair value of contingent consideration		300
Contingent consideration liability		8,500	$ 8,200
CMD Reporter
Acquisitions
Aggregate purchase price	$ 3,400
Contingent purchase consideration	$ 359
Measurement period	90 days
Acquisition-related expenses		$ 100
Cash paid	$ (3,041)
Goodwill	370
Total purchase consideration	3,400
CMD Reporter \| In Process Research and Development [Member]
Acquisitions
Intangible assets acquired	$ 400
CMD Reporter \| Developed technology
Acquisitions
Weighted-average economic life of intangible assets acquired	5 years
Intangible assets acquired	$ 2,630

Goodwill and other intangible assets - Goodwill (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2021 USD ($)
Goodwill [Roll Forward]
Goodwill, Beginning Balance	$ 541,480
Goodwill acquired	370
Goodwill, Ending Balance	$ 541,850

Goodwill and other intangible assets - Intangible assets (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Accumulated Amortization	$ 108,887		$ 100,523
Intangible Assets, Gross (Excluding Goodwill)	306,391		303,401
Intangible Assets, Net (Excluding Goodwill)	197,504		202,878
Amortization expense	8,400	$ 8,400
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Impairment of goodwill	0	0
Impairment of Intangible Assets	0	$ 0
In Process Research and Development [Member]
Finite-Lived Intangible Assets [Line Items]
Indefinite-lived Intangible Assets (Excluding Goodwill)	$ 400
Trademarks
Finite-Lived Intangible Assets [Line Items]
Useful Life	8 years
Gross Value	$ 34,300		34,320
Accumulated Amortization	14,506		13,454
Net Carrying Value	$ 19,794		$ 20,866
Weighted-Average Remaining Useful Life	4 years 7 months 6 days		4 years 9 months 18 days
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Finite-Lived Intangible Assets, Net	$ 19,794		$ 20,866
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Value	214,408		214,428
Accumulated Amortization	60,342		55,810
Net Carrying Value	$ 154,066		$ 158,618
Weighted-Average Remaining Useful Life	8 years 6 months		8 years 8 months 12 days
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Finite-Lived Intangible Assets, Net	$ 154,066		$ 158,618
Developed technology
Finite-Lived Intangible Assets [Line Items]
Useful Life	5 years		5 years
Gross Value	$ 57,193		$ 54,563
Accumulated Amortization	33,949		31,173
Net Carrying Value	$ 23,244		$ 23,390
Weighted-Average Remaining Useful Life	2 years 4 months 24 days		2 years 3 months 18 days
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Finite-Lived Intangible Assets, Net	$ 23,244		$ 23,390
Non-competes
Finite-Lived Intangible Assets [Line Items]
Useful Life	2 years		2 years
Gross Value	$ 90		$ 90
Accumulated Amortization	$ 90		86
Net Carrying Value			$ 4
Weighted-Average Remaining Useful Life			1 month 6 days
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Finite-Lived Intangible Assets, Net			$ 4
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			8 years
Minimum \| Customer relationships
Finite-Lived Intangible Assets [Line Items]
Useful Life	2 years		2 years

Leases (Details) - USD ($) $ in Thousands	3 Months Ended
Leases (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Mar. 31, 2020
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Renewal Term	10 years
Lessee, Finance Lease, Term of Contract	4 years
Operating Lease, Right-of-Use Asset	$ 23,868
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other Assets, Noncurrent
Operating Lease, Liability, Current	$ 4,870
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Accrued Liabilities, Current
Operating Lease, Liability, Noncurrent	$ 23,184
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other Liabilities, Noncurrent
Operating Lease, Liability, Total	$ 28,054
Operating Lease, Weighted Average Remaining Lease Term	6 years 6 months
Operating Lease, Weighted Average Discount Rate, Percent	3.50%
Lease, Cost [Abstract]
Operating Lease, Cost	$ 1,514
Short-term Lease, Cost	52
Variable Lease, Cost	439
Lease, Cost, Total	2,005
Operating lease expense, preadoption		$ 1,400
Operating Lease, Payments	1,200
Related Party Operating Lease [Member]
Lease, Cost [Abstract]
Operating Lease, Cost	$ 300
Operating lease expense, preadoption		$ 300
Minimum
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Term of Contract	1 year
Maximum
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Term of Contract	9 years

Leases - Maturity (Details) $ in Thousands	Mar. 31, 2021 USD ($)
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2021	$ 4,326
2022	5,407
2023	5,331
2024	4,589
2025	2,519
Thereafter	9,482
Lessee, Operating Lease, Liability, to be Paid, Total	31,654
Less: imputed interest	3,600
Total present value of lease liabilities	$ 28,054

Debt (Details) - USD ($) $ in Millions		3 Months Ended
Debt (Details) - USD ($) $ in Millions	Jul. 27, 2020	Sep. 30, 2020	Mar. 31, 2021	Dec. 31, 2020	Jul. 26, 2020
Debt Instrument [Line Items]
Debt issuance costs in other assets			$ 1.1	$ 1.1
Term Loan [Member]
Debt Instrument [Line Items]
Minimum increment in term loan facility	$ 5.0
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	150.0				$ 15.0
Debt issuance costs		$ 1.3
Letter of Credit [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	25.0
Borrowings			$ 1.0	$ 1.0
Foreign Line of Credit [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 50.0

Commitments and Contingencies (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Commitments and Contingencies
Liabilities for contingencies	$ 0	$ 0

Net Loss per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Numerator:
Net loss	$ (3,069)	$ (8,290)
Weighted-average shares outstanding
Weighted-average shares used to compute net loss per share, basic and diluted	117,386,322	102,860,545
Basic and diluted net loss per share	$ (0.03)	$ (0.08)

- 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
	Mar. 31, 2021	Mar. 31, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total potential dilutive securities	7,895,468	7,778,678
Stock options outstanding
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total potential dilutive securities	6,521,067	7,742,158
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total potential dilutive securities	1,374,401	36,520

Share-based compensation (Details) - shares	3 Months Ended
Share-based compensation (Details) - shares	Mar. 31, 2021	Jan. 01, 2021	Jul. 21, 2020
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		19,479,699	14,800,000
Period for increase in shares reserved for issuance	10 years
Minimum percentage increase	4.00%
Common stock reserved for additional grants under the Plan	18,105,298
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) - Return target options - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Options (in shares)
Outstanding Beginning Balance	3,687,664
Granted	0
Outstanding Ending Balance	3,687,664	3,687,664
Weighted Average Exercise Price
Outstanding Beginning Balance	$ 6.75
Outstanding Ending Balance	$ 6.75	$ 6.75
Weighted Average Remaining Contractual Term and Aggregate Intrinsic Value
Remaining term, options outstanding	7 years 6 months	7 years 9 months 18 days
Aggregate intrinsic value, options outstanding, beginning	$ 85,444
Aggregate intrinsic value, options outstanding, ending	105,358	$ 85,444
Unrecognized compensation expense
Unrecognized compensation expense	$ 33,000

Share-based compensation - Restricted stock units (Details) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2021 USD ($) $ / shares shares
Unrecognized compensation expense
Unrecognized compensation expense, RSUs \| $	$ 31.3
Restricted stock units
Restricted stock (in units)
Outstanding, beginning balance \| shares	1,293,107
Granted \| shares	88,764
Forfeited \| shares	(7,470)
Outstanding, ending balance \| shares	1,374,401
Fair Value (Per unit)
Fair value, units outstanding, beginning \| $ / shares	$ 26.34
Fair value, units granted \| $ / shares	37.37
Fair value, units forfeited \| $ / shares	26.00
Fair value, units outstanding, ending \| $ / shares	$ 27.05
Unrecognized compensation expense
Weighted average period over which unrecognized compensation expense would be recognized	3 years 4 months 24 days
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 - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Options (in shares)
Outstanding Beginning Balance	3,546,826
Exercised	(713,423)
Outstanding Ending Balance	2,833,403	3,546,826
Exercisable	1,790,693
Vested or expected to vest	2,833,403
Weighted Average Exercise Price
Outstanding Beginning Balance	$ 5.65
Exercised	5.63
Outstanding Ending Balance	5.65	$ 5.65
Exercisable	5.50
Vested or expected to vest	$ 5.65
Weighted Average Remaining Contractual Term and Aggregate Intrinsic Value
Remaining term, options outstanding	6 years 9 months 18 days	7 years 1 month 6 days
Remaining term, options exercisable	6 years 8 months 12 days
Remaining term, options vested or expected to vest	6 years 9 months 18 days
Aggregate intrinsic value, options outstanding, beginning	$ 86,098
Aggregate intrinsic value, options exercised	21,328
Aggregate intrinsic value, options outstanding, ending	84,072	$ 86,098
Aggregate intrinsic value, options exercisable	53,395
Aggregate intrinsic value, options vested or expected to vest	84,072
Total fair value, options vested in period	700
Unrecognized compensation expense
Unrecognized compensation expense	$ 2,700
Weighted average period over which unrecognized compensation expense would be recognized	1 year 6 months

Share-based compensation - Stock-based compensation expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 2,832	$ 811
Cost of revenues \| Services/Professional Services
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	77
Cost of revenues \| Subscription
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	324	38
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	842	111
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	778	157
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 811	$ 505

Income taxes - Provision (Details) - USD ($) $ in Thousands	3 Months Ended
Income taxes - Provision (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Mar. 31, 2020
Income Taxes [Line Items]
Effective Income Tax Rate Reconciliation, Percent	(2.20%)	28.00%
Components of Income Tax Expense (Benefit), Continuing Operations [Abstract]
Income tax benefit	$ 65	$ (3,220)
Annual effective tax rate, interim period estimate	(0.50%)	25.20%
Maximum
Components of Income Tax Expense (Benefit), Continuing Operations [Abstract]
Income tax benefit	$ 100

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Related party transactions (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Jul. 27, 2020	Jul. 26, 2020
Term Loan [Member]
Related Party Transaction [Line Items]
Debt, Principle amount					$ 205.0
Revolving Credit Facility [Member]
Related Party Transaction [Line Items]
Maximum borrowing capacity				$ 150.0	$ 15.0
JAMF Nation Global Foundation [Member]
Related Party Transaction [Line Items]
Amount of pledges to JAMF Nation Global Foundation	$ 0.1	$ 0.0
Accrued expenses to JAMF Nation Global Foundation	0.4		$ 0.9
Vista [Member]
Related Party Transaction [Line Items]
Expenses incurred for related party transactions		0.2
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
Accounts payable to related parties			0.1
Revenue from arrangement with related party	0.2	0.3
Accounts receivable from related party	0.2		$ 0.3
Vista Affiliates [Member] \| Term Loan [Member]
Related Party Transaction [Line Items]
Interest paid on term loan		$ 0.8
Vista Affiliates [Member] \| Maximum
Related Party Transaction [Line Items]
Accounts payable to related parties	$ 0.1

Subsequent Event (Details) - USD ($) $ in Thousands				2 Months Ended	3 Months Ended
Subsequent Event (Details) - USD ($) $ in Thousands	Dec. 15, 2021	Oct. 01, 2021	May 11, 2021	Dec. 15, 2021	Sep. 30, 2021	Mar. 31, 2021
Subsequent Event [Line Items]
Cash paid						$ 3,041
Wandera, Inc. [Member] \| Forecast [Member]
Subsequent Event [Line Items]
Cash paid	$ 25,000	$ 25,000	$ 350,000	$ 50,000
Subsequent Event [Member] \| Wandera, Inc. [Member] \| Forecast [Member]
Subsequent Event [Line Items]
Aggregate purchase price					$ 400,000