jamf-20210930
--12-312021Q30001721947falsehttp://fasb.org/us-gaap/2021-01-31#OtherAssetsNoncurrenthttp://fasb.org/us-gaap/2021-01-31#AccruedLiabilitiesCurrenthttp://fasb.org/us-gaap/2021-01-31#OtherLiabilitiesNoncurrent0.02000240000017219472021-01-012021-09-30xbrli:shares00017219472021-10-29iso4217:USD00017219472021-09-3000017219472020-12-31iso4217:USDxbrli:shares0001721947us-gaap:SubscriptionAndCirculationMember2021-07-012021-09-300001721947us-gaap:SubscriptionAndCirculationMember2020-07-012020-09-300001721947us-gaap:SubscriptionAndCirculationMember2021-01-012021-09-300001721947us-gaap:SubscriptionAndCirculationMember2020-01-012020-09-300001721947us-gaap:TechnologyServiceMember2021-07-012021-09-300001721947us-gaap:TechnologyServiceMember2020-07-012020-09-300001721947us-gaap:TechnologyServiceMember2021-01-012021-09-300001721947us-gaap:TechnologyServiceMember2020-01-012020-09-300001721947us-gaap:LicenseMember2021-07-012021-09-300001721947us-gaap:LicenseMember2020-07-012020-09-300001721947us-gaap:LicenseMember2021-01-012021-09-300001721947us-gaap:LicenseMember2020-01-012020-09-3000017219472021-07-012021-09-3000017219472020-07-012020-09-3000017219472020-01-012020-09-300001721947us-gaap:CommonStockMember2021-06-300001721947us-gaap:AdditionalPaidInCapitalMember2021-06-300001721947us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-06-300001721947us-gaap:RetainedEarningsMember2021-06-3000017219472021-06-300001721947us-gaap:CommonStockMember2021-07-012021-09-300001721947us-gaap:AdditionalPaidInCapitalMember2021-07-012021-09-300001721947us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-07-012021-09-300001721947us-gaap:RetainedEarningsMember2021-07-012021-09-300001721947us-gaap:CommonStockMember2021-09-300001721947us-gaap:AdditionalPaidInCapitalMember2021-09-300001721947us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-09-300001721947us-gaap:RetainedEarningsMember2021-09-300001721947us-gaap:CommonStockMember2020-06-300001721947us-gaap:AdditionalPaidInCapitalMember2020-06-300001721947us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-06-300001721947us-gaap:RetainedEarningsMember2020-06-3000017219472020-06-300001721947us-gaap:CommonStockMemberus-gaap:IPOMember2020-07-012020-09-300001721947us-gaap:AdditionalPaidInCapitalMemberus-gaap:IPOMember2020-07-012020-09-300001721947us-gaap:IPOMember2020-07-012020-09-300001721947us-gaap:PrivatePlacementMemberus-gaap:CommonStockMember2020-07-012020-09-300001721947us-gaap:AdditionalPaidInCapitalMemberus-gaap:PrivatePlacementMember2020-07-012020-09-300001721947us-gaap:PrivatePlacementMember2020-07-012020-09-300001721947us-gaap:CommonStockMember2020-07-012020-09-300001721947us-gaap:AdditionalPaidInCapitalMember2020-07-012020-09-300001721947us-gaap:RetainedEarningsMember2020-07-012020-09-300001721947us-gaap:CommonStockMember2020-09-300001721947us-gaap:AdditionalPaidInCapitalMember2020-09-300001721947us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-09-300001721947us-gaap:RetainedEarningsMember2020-09-3000017219472020-09-300001721947us-gaap:CommonStockMember2020-12-310001721947us-gaap:AdditionalPaidInCapitalMember2020-12-310001721947us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-12-310001721947us-gaap:RetainedEarningsMember2020-12-310001721947us-gaap:CommonStockMember2021-01-012021-09-300001721947us-gaap:AdditionalPaidInCapitalMember2021-01-012021-09-300001721947us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-01-012021-09-300001721947us-gaap:RetainedEarningsMember2021-01-012021-09-300001721947us-gaap:CommonStockMember2019-12-310001721947us-gaap:AdditionalPaidInCapitalMember2019-12-310001721947us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-12-310001721947us-gaap:RetainedEarningsMember2019-12-3100017219472019-12-310001721947us-gaap:CommonStockMemberus-gaap:IPOMember2020-01-012020-09-300001721947us-gaap:AdditionalPaidInCapitalMemberus-gaap:IPOMember2020-01-012020-09-300001721947us-gaap:IPOMember2020-01-012020-09-300001721947us-gaap:PrivatePlacementMemberus-gaap:CommonStockMember2020-01-012020-09-300001721947us-gaap:AdditionalPaidInCapitalMemberus-gaap:PrivatePlacementMember2020-01-012020-09-300001721947us-gaap:PrivatePlacementMember2020-01-012020-09-300001721947us-gaap:CommonStockMember2020-01-012020-09-300001721947us-gaap:AdditionalPaidInCapitalMember2020-01-012020-09-300001721947us-gaap:RetainedEarningsMember2020-01-012020-09-300001721947us-gaap:IPOMember2020-07-242020-07-240001721947us-gaap:IPOMember2020-07-2400017219472020-07-240001721947us-gaap:PrivatePlacementMember2020-07-242020-07-2400017219472020-07-242020-07-240001721947srt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMemberus-gaap:SubscriptionAndCirculationMemberjamf:ClassificationOfOnPremiseSubscriptionRevenueMember2020-07-012020-09-300001721947srt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMemberus-gaap:SubscriptionAndCirculationMemberjamf:ClassificationOfOnPremiseSubscriptionRevenueMember2020-01-012020-09-300001721947srt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMemberjamf:ErrorInCommissionsCapitalizedMember2020-12-310001721947srt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMemberjamf:ErrorInCommissionsCapitalizedMember2020-01-012020-12-310001721947srt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMemberjamf:ErrorInCommissionsCapitalizedMember2019-01-012019-12-310001721947srt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMemberjamf:ErrorInCommissionsCapitalizedMember2019-12-310001721947srt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMemberjamf:ErrorInCommissionsCapitalizedMember2018-12-310001721947srt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMemberjamf:ErrorInCommissionsCapitalizedMember2018-01-012018-12-310001721947srt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMemberjamf:ErrorInCommissionsCapitalizedMember2021-01-012021-03-310001721947srt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMemberjamf:ErrorInCommissionsCapitalizedMember2021-03-310001721947srt:ScenarioPreviouslyReportedMember2020-12-310001721947jamf:ErrorCorrectionCommissionsMembersrt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMember2020-12-310001721947srt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMemberus-gaap:ErrorCorrectionOtherMember2020-12-310001721947srt:ScenarioPreviouslyReportedMemberus-gaap:SubscriptionAndCirculationMember2020-07-012020-09-300001721947jamf:ErrorCorrectionCommissionsMembersrt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMemberus-gaap:SubscriptionAndCirculationMember2020-07-012020-09-300001721947srt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMemberus-gaap:SubscriptionAndCirculationMemberus-gaap:ErrorCorrectionOtherMember2020-07-012020-09-300001721947srt:ScenarioPreviouslyReportedMemberus-gaap:TechnologyServiceMember2020-07-012020-09-300001721947jamf:ErrorCorrectionCommissionsMembersrt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMemberus-gaap:TechnologyServiceMember2020-07-012020-09-300001721947srt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMemberus-gaap:ErrorCorrectionOtherMemberus-gaap:TechnologyServiceMember2020-07-012020-09-300001721947srt:ScenarioPreviouslyReportedMemberus-gaap:LicenseMember2020-07-012020-09-300001721947jamf:ErrorCorrectionCommissionsMembersrt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMemberus-gaap:LicenseMember2020-07-012020-09-300001721947srt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMemberus-gaap:ErrorCorrectionOtherMemberus-gaap:LicenseMember2020-07-012020-09-300001721947srt:ScenarioPreviouslyReportedMember2020-07-012020-09-300001721947jamf:ErrorCorrectionCommissionsMembersrt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMember2020-07-012020-09-300001721947srt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMemberus-gaap:ErrorCorrectionOtherMember2020-07-012020-09-300001721947srt:ScenarioPreviouslyReportedMemberus-gaap:SubscriptionAndCirculationMember2020-01-012020-09-300001721947jamf:ErrorCorrectionCommissionsMembersrt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMemberus-gaap:SubscriptionAndCirculationMember2020-01-012020-09-300001721947srt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMemberus-gaap:SubscriptionAndCirculationMemberus-gaap:ErrorCorrectionOtherMember2020-01-012020-09-300001721947srt:ScenarioPreviouslyReportedMemberus-gaap:TechnologyServiceMember2020-01-012020-09-300001721947jamf:ErrorCorrectionCommissionsMembersrt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMemberus-gaap:TechnologyServiceMember2020-01-012020-09-300001721947srt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMemberus-gaap:ErrorCorrectionOtherMemberus-gaap:TechnologyServiceMember2020-01-012020-09-300001721947srt:ScenarioPreviouslyReportedMemberus-gaap:LicenseMember2020-01-012020-09-300001721947jamf:ErrorCorrectionCommissionsMembersrt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMemberus-gaap:LicenseMember2020-01-012020-09-300001721947srt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMemberus-gaap:ErrorCorrectionOtherMemberus-gaap:LicenseMember2020-01-012020-09-300001721947srt:ScenarioPreviouslyReportedMember2020-01-012020-09-300001721947jamf:ErrorCorrectionCommissionsMembersrt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMember2020-01-012020-09-300001721947srt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMemberus-gaap:ErrorCorrectionOtherMember2020-01-012020-09-300001721947srt:ScenarioPreviouslyReportedMemberus-gaap:CommonStockMember2020-06-300001721947us-gaap:AdditionalPaidInCapitalMembersrt:ScenarioPreviouslyReportedMember2020-06-300001721947srt:ScenarioPreviouslyReportedMemberus-gaap:RetainedEarningsMember2020-06-300001721947srt:ScenarioPreviouslyReportedMember2020-06-300001721947srt:ScenarioPreviouslyReportedMemberus-gaap:CommonStockMemberus-gaap:IPOMember2020-07-012020-09-300001721947us-gaap:AdditionalPaidInCapitalMembersrt:ScenarioPreviouslyReportedMemberus-gaap:IPOMember2020-07-012020-09-300001721947srt:ScenarioPreviouslyReportedMemberus-gaap:IPOMember2020-07-012020-09-300001721947srt:ScenarioPreviouslyReportedMemberus-gaap:PrivatePlacementMemberus-gaap:CommonStockMember2020-07-012020-09-300001721947us-gaap:AdditionalPaidInCapitalMembersrt:ScenarioPreviouslyReportedMemberus-gaap:PrivatePlacementMember2020-07-012020-09-300001721947srt:ScenarioPreviouslyReportedMemberus-gaap:PrivatePlacementMember2020-07-012020-09-300001721947srt:ScenarioPreviouslyReportedMemberus-gaap:CommonStockMember2020-07-012020-09-300001721947us-gaap:AdditionalPaidInCapitalMembersrt:ScenarioPreviouslyReportedMember2020-07-012020-09-300001721947srt:ScenarioPreviouslyReportedMemberus-gaap:RetainedEarningsMember2020-07-012020-09-300001721947srt:ScenarioPreviouslyReportedMemberus-gaap:CommonStockMember2020-09-300001721947us-gaap:AdditionalPaidInCapitalMembersrt:ScenarioPreviouslyReportedMember2020-09-300001721947srt:ScenarioPreviouslyReportedMemberus-gaap:RetainedEarningsMember2020-09-300001721947srt:ScenarioPreviouslyReportedMember2020-09-300001721947jamf:ErrorCorrectionCommissionsMembersrt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMemberus-gaap:CommonStockMember2020-06-300001721947jamf:ErrorCorrectionCommissionsMemberus-gaap:AdditionalPaidInCapitalMembersrt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMember2020-06-300001721947jamf:ErrorCorrectionCommissionsMembersrt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMemberus-gaap:RetainedEarningsMember2020-06-300001721947jamf:ErrorCorrectionCommissionsMembersrt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMember2020-06-300001721947jamf:ErrorCorrectionCommissionsMembersrt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMemberus-gaap:IPOMember2020-07-012020-09-300001721947jamf:ErrorCorrectionCommissionsMembersrt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMemberus-gaap:PrivatePlacementMember2020-07-012020-09-300001721947jamf:ErrorCorrectionCommissionsMembersrt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMemberus-gaap:RetainedEarningsMember2020-07-012020-09-300001721947jamf:ErrorCorrectionCommissionsMembersrt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMemberus-gaap:CommonStockMember2020-09-300001721947jamf:ErrorCorrectionCommissionsMemberus-gaap:AdditionalPaidInCapitalMembersrt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMember2020-09-300001721947jamf:ErrorCorrectionCommissionsMembersrt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMemberus-gaap:RetainedEarningsMember2020-09-300001721947jamf:ErrorCorrectionCommissionsMembersrt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMember2020-09-300001721947srt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMemberus-gaap:CommonStockMemberus-gaap:ErrorCorrectionOtherMember2020-06-300001721947us-gaap:AdditionalPaidInCapitalMembersrt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMemberus-gaap:ErrorCorrectionOtherMember2020-06-300001721947srt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMemberus-gaap:RetainedEarningsMemberus-gaap:ErrorCorrectionOtherMember2020-06-300001721947srt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMemberus-gaap:ErrorCorrectionOtherMember2020-06-300001721947srt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMemberus-gaap:ErrorCorrectionOtherMemberus-gaap:IPOMember2020-07-012020-09-300001721947srt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMemberus-gaap:PrivatePlacementMemberus-gaap:ErrorCorrectionOtherMember2020-07-012020-09-300001721947srt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMemberus-gaap:RetainedEarningsMemberus-gaap:ErrorCorrectionOtherMember2020-07-012020-09-300001721947srt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMemberus-gaap:CommonStockMemberus-gaap:ErrorCorrectionOtherMember2020-09-300001721947us-gaap:AdditionalPaidInCapitalMembersrt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMemberus-gaap:ErrorCorrectionOtherMember2020-09-300001721947srt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMemberus-gaap:RetainedEarningsMemberus-gaap:ErrorCorrectionOtherMember2020-09-300001721947srt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMemberus-gaap:ErrorCorrectionOtherMember2020-09-300001721947srt:ScenarioPreviouslyReportedMemberus-gaap:CommonStockMember2019-12-310001721947us-gaap:AdditionalPaidInCapitalMembersrt:ScenarioPreviouslyReportedMember2019-12-310001721947srt:ScenarioPreviouslyReportedMemberus-gaap:RetainedEarningsMember2019-12-310001721947srt:ScenarioPreviouslyReportedMember2019-12-310001721947srt:ScenarioPreviouslyReportedMemberus-gaap:CommonStockMemberus-gaap:IPOMember2020-01-012020-09-300001721947us-gaap:AdditionalPaidInCapitalMembersrt:ScenarioPreviouslyReportedMemberus-gaap:IPOMember2020-01-012020-09-300001721947srt:ScenarioPreviouslyReportedMemberus-gaap:IPOMember2020-01-012020-09-300001721947srt:ScenarioPreviouslyReportedMemberus-gaap:PrivatePlacementMemberus-gaap:CommonStockMember2020-01-012020-09-300001721947us-gaap:AdditionalPaidInCapitalMembersrt:ScenarioPreviouslyReportedMemberus-gaap:PrivatePlacementMember2020-01-012020-09-300001721947srt:ScenarioPreviouslyReportedMemberus-gaap:PrivatePlacementMember2020-01-012020-09-300001721947srt:ScenarioPreviouslyReportedMemberus-gaap:CommonStockMember2020-01-012020-09-300001721947us-gaap:AdditionalPaidInCapitalMembersrt:ScenarioPreviouslyReportedMember2020-01-012020-09-300001721947srt:ScenarioPreviouslyReportedMemberus-gaap:RetainedEarningsMember2020-01-012020-09-300001721947jamf:ErrorCorrectionCommissionsMembersrt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMemberus-gaap:CommonStockMember2019-12-310001721947jamf:ErrorCorrectionCommissionsMemberus-gaap:AdditionalPaidInCapitalMembersrt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMember2019-12-310001721947jamf:ErrorCorrectionCommissionsMembersrt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMemberus-gaap:RetainedEarningsMember2019-12-310001721947jamf:ErrorCorrectionCommissionsMembersrt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMember2019-12-310001721947jamf:ErrorCorrectionCommissionsMembersrt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMemberus-gaap:IPOMember2020-01-012020-09-300001721947jamf:ErrorCorrectionCommissionsMembersrt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMemberus-gaap:PrivatePlacementMember2020-01-012020-09-300001721947jamf:ErrorCorrectionCommissionsMembersrt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMemberus-gaap:RetainedEarningsMember2020-01-012020-09-300001721947srt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMemberus-gaap:CommonStockMemberus-gaap:ErrorCorrectionOtherMember2019-12-310001721947us-gaap:AdditionalPaidInCapitalMembersrt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMemberus-gaap:ErrorCorrectionOtherMember2019-12-310001721947srt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMemberus-gaap:RetainedEarningsMemberus-gaap:ErrorCorrectionOtherMember2019-12-310001721947srt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMemberus-gaap:ErrorCorrectionOtherMember2019-12-310001721947srt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMemberus-gaap:ErrorCorrectionOtherMemberus-gaap:IPOMember2020-01-012020-09-300001721947srt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMemberus-gaap:PrivatePlacementMemberus-gaap:ErrorCorrectionOtherMember2020-01-012020-09-300001721947srt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMemberus-gaap:RetainedEarningsMemberus-gaap:ErrorCorrectionOtherMember2020-01-012020-09-30jamf:segment0001721947srt:AmericasMember2021-07-012021-09-300001721947srt:AmericasMember2020-07-012020-09-300001721947srt:AmericasMember2021-01-012021-09-300001721947srt:AmericasMember2020-01-012020-09-300001721947jamf:EuropeMiddleEastIndiaAndAfricaMember2021-07-012021-09-300001721947jamf:EuropeMiddleEastIndiaAndAfricaMember2020-07-012020-09-300001721947jamf:EuropeMiddleEastIndiaAndAfricaMember2021-01-012021-09-300001721947jamf:EuropeMiddleEastIndiaAndAfricaMember2020-01-012020-09-300001721947srt:AsiaPacificMember2021-07-012021-09-300001721947srt:AsiaPacificMember2020-07-012020-09-300001721947srt:AsiaPacificMember2021-01-012021-09-300001721947srt:AsiaPacificMember2020-01-012020-09-300001721947jamf:SubscriptionAndSupportAndMaintenanceMember2021-07-012021-09-300001721947jamf:SubscriptionAndSupportAndMaintenanceMember2020-07-012020-09-300001721947jamf:SubscriptionAndSupportAndMaintenanceMember2021-01-012021-09-300001721947jamf:SubscriptionAndSupportAndMaintenanceMember2020-01-012020-09-300001721947jamf:OnPremiseSubscriptionMember2021-07-012021-09-300001721947jamf:OnPremiseSubscriptionMember2020-07-012020-09-300001721947jamf:OnPremiseSubscriptionMember2021-01-012021-09-300001721947jamf:OnPremiseSubscriptionMember2020-01-012020-09-300001721947jamf:NonSubscriptionPerpetualLicensesMember2021-07-012021-09-300001721947jamf:NonSubscriptionPerpetualLicensesMember2020-07-012020-09-300001721947jamf:NonSubscriptionPerpetualLicensesMember2021-01-012021-09-300001721947jamf:NonSubscriptionPerpetualLicensesMember2020-01-012020-09-30xbrli:pure00017219472021-10-012021-09-3000017219472022-10-012020-12-310001721947us-gaap:AccountsReceivableMemberus-gaap:CreditConcentrationRiskMember2021-09-300001721947us-gaap:AccountsReceivableMemberjamf:TwoDistributorsMemberus-gaap:CreditConcentrationRiskMember2020-12-310001721947us-gaap:AccountingStandardsUpdate201602Member2021-01-010001721947us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:MoneyMarketFundsMember2021-09-300001721947us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MoneyMarketFundsMember2021-09-300001721947us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MoneyMarketFundsMember2021-09-300001721947us-gaap:FairValueMeasurementsRecurringMemberus-gaap:MoneyMarketFundsMember2021-09-300001721947us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2021-09-300001721947us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2021-09-300001721947us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2021-09-300001721947us-gaap:FairValueMeasurementsRecurringMember2021-09-300001721947us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:MoneyMarketFundsMember2020-12-310001721947us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MoneyMarketFundsMember2020-12-310001721947us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MoneyMarketFundsMember2020-12-310001721947us-gaap:FairValueMeasurementsRecurringMemberus-gaap:MoneyMarketFundsMember2020-12-310001721947us-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2020-12-310001721947us-gaap:FairValueInputsLevel2Memberus-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2020-12-310001721947us-gaap:FairValueInputsLevel3Memberus-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2020-12-310001721947us-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2020-12-310001721947us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2020-12-310001721947us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2020-12-310001721947us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2020-12-310001721947us-gaap:FairValueMeasurementsRecurringMember2020-12-310001721947jamf:WanderaIncMember2021-07-010001721947srt:ScenarioForecastMemberjamf:WanderaIncMember2021-07-012021-12-150001721947jamf:WanderaIncMember2021-07-012021-07-010001721947srt:ScenarioForecastMemberjamf:WanderaIncMember2021-10-012021-12-150001721947srt:ScenarioForecastMemberjamf:WanderaIncMember2021-12-152021-12-150001721947srt:ScenarioForecastMemberjamf:WanderaIncMember2021-10-012021-10-010001721947us-gaap:CostOfSalesMemberus-gaap:SubscriptionAndCirculationMemberjamf:WanderaIncMember2021-07-012021-09-300001721947us-gaap:CostOfSalesMemberus-gaap:SubscriptionAndCirculationMemberjamf:WanderaIncMember2021-01-012021-09-300001721947us-gaap:SellingAndMarketingExpenseMemberjamf:WanderaIncMember2021-07-012021-09-300001721947us-gaap:SellingAndMarketingExpenseMemberjamf:WanderaIncMember2021-01-012021-09-300001721947us-gaap:ResearchAndDevelopmentExpenseMemberjamf:WanderaIncMember2021-07-012021-09-300001721947us-gaap:ResearchAndDevelopmentExpenseMemberjamf:WanderaIncMember2021-01-012021-09-300001721947us-gaap:GeneralAndAdministrativeExpenseMemberjamf:WanderaIncMember2021-07-012021-09-300001721947us-gaap:GeneralAndAdministrativeExpenseMemberjamf:WanderaIncMember2021-01-012021-09-300001721947jamf:WanderaIncMember2021-07-012021-09-300001721947jamf:WanderaIncMember2021-01-012021-09-300001721947us-gaap:DevelopedTechnologyRightsMemberjamf:WanderaIncMember2021-07-012021-07-010001721947jamf:WanderaIncMemberus-gaap:CustomerRelationshipsMember2021-07-012021-07-010001721947us-gaap:OrderOrProductionBacklogMemberjamf:WanderaIncMember2021-07-012021-07-010001721947jamf:WanderaIncMemberus-gaap:NoncompeteAgreementsMember2021-07-012021-07-010001721947us-gaap:TrademarksMemberjamf:WanderaIncMember2021-07-012021-07-010001721947jamf:WanderaIncMember2020-07-012020-09-300001721947jamf:WanderaIncMember2020-01-012020-09-300001721947jamf:CmdReporterMember2021-02-262021-02-260001721947jamf:CmdReporterMember2021-02-260001721947jamf:CmdReporterMember2021-09-300001721947jamf:CmdReporterMember2021-04-012021-06-300001721947us-gaap:DevelopedTechnologyRightsMemberjamf:CmdReporterMember2021-02-262021-02-260001721947jamf:CmdReporterMember2021-07-012021-09-300001721947jamf:CmdReporterMember2021-01-012021-09-300001721947jamf:DigitaSecurityLlcMember2019-12-310001721947jamf:DigitaSecurityLlcMember2021-04-012021-06-300001721947jamf:DigitaSecurityLlcMember2021-07-012021-09-300001721947jamf:DigitaSecurityLlcMember2021-01-012021-09-300001721947jamf:DigitaSecurityLlcMember2021-09-300001721947us-gaap:AccruedLiabilitiesMemberjamf:DigitaSecurityLlcMember2021-09-300001721947us-gaap:OtherLiabilitiesMemberjamf:DigitaSecurityLlcMember2021-09-300001721947jamf:DigitaSecurityLlcMember2020-12-310001721947us-gaap:TrademarksMember2020-01-012020-12-310001721947us-gaap:TrademarksMember2020-12-310001721947us-gaap:CustomerRelationshipsMembersrt:MinimumMember2020-01-012020-12-310001721947us-gaap:CustomerRelationshipsMembersrt:MaximumMember2020-01-012020-12-310001721947us-gaap:CustomerRelationshipsMember2020-12-310001721947us-gaap:CustomerRelationshipsMember2020-01-012020-12-310001721947us-gaap:DevelopedTechnologyRightsMember2020-01-012020-12-310001721947us-gaap:DevelopedTechnologyRightsMember2020-12-310001721947us-gaap:NoncompeteAgreementsMember2020-01-012020-12-310001721947us-gaap:NoncompeteAgreementsMember2020-12-310001721947us-gaap:TrademarksMembersrt:MinimumMember2021-01-012021-09-300001721947us-gaap:TrademarksMembersrt:MaximumMember2021-01-012021-09-300001721947us-gaap:TrademarksMember2021-09-300001721947us-gaap:TrademarksMember2021-01-012021-09-300001721947us-gaap:CustomerRelationshipsMembersrt:MinimumMember2021-01-012021-09-300001721947us-gaap:CustomerRelationshipsMembersrt:MaximumMember2021-01-012021-09-300001721947us-gaap:CustomerRelationshipsMember2021-09-300001721947us-gaap:CustomerRelationshipsMember2021-01-012021-09-300001721947us-gaap:DevelopedTechnologyRightsMembersrt:MinimumMember2021-01-012021-09-300001721947us-gaap:DevelopedTechnologyRightsMembersrt:MaximumMember2021-01-012021-09-300001721947us-gaap:DevelopedTechnologyRightsMember2021-09-300001721947us-gaap:DevelopedTechnologyRightsMember2021-01-012021-09-300001721947us-gaap:NoncompeteAgreementsMembersrt:MinimumMember2021-01-012021-09-300001721947us-gaap:NoncompeteAgreementsMembersrt:MaximumMember2021-01-012021-09-300001721947us-gaap:NoncompeteAgreementsMember2021-09-300001721947us-gaap:NoncompeteAgreementsMember2021-01-012021-09-300001721947us-gaap:OrderOrProductionBacklogMember2021-01-012021-09-300001721947us-gaap:OrderOrProductionBacklogMember2021-09-300001721947us-gaap:InProcessResearchAndDevelopmentMember2021-09-300001721947jamf:WanderaIncMember2021-09-300001721947srt:MinimumMember2021-09-300001721947srt:MaximumMember2021-09-300001721947srt:AffiliatedEntityMember2021-07-012021-09-300001721947srt:AffiliatedEntityMember2021-01-012021-09-300001721947srt:AffiliatedEntityMember2020-07-012020-09-300001721947srt:AffiliatedEntityMember2020-01-012020-09-300001721947us-gaap:ConvertibleDebtMemberjamf:ConvertibleSeniorNotesDue2026Member2021-09-170001721947us-gaap:ConvertibleDebtMemberjamf:ConvertibleSeniorNotesDue2026Member2021-09-172021-09-170001721947jamf:ThreeHundredSixtyFourDayFacilityMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMember2021-09-172021-09-1700017219472021-09-172021-09-17utr:D0001721947jamf:CircumstanceOneMemberus-gaap:ConvertibleDebtMemberjamf:ConvertibleSeniorNotesDue2026Member2021-09-172021-09-170001721947us-gaap:ConvertibleDebtMemberjamf:ConvertibleSeniorNotesDue2026Memberjamf:CircumstanceTwoMember2021-09-172021-09-170001721947us-gaap:ConvertibleDebtMemberjamf:ConvertibleSeniorNotesDue2026Member2021-07-012021-09-300001721947us-gaap:ConvertibleDebtMemberjamf:ConvertibleSeniorNotesDue2026Member2020-07-012020-09-300001721947us-gaap:ConvertibleDebtMemberjamf:ConvertibleSeniorNotesDue2026Member2021-01-012021-09-300001721947us-gaap:ConvertibleDebtMemberjamf:ConvertibleSeniorNotesDue2026Member2020-01-012020-09-300001721947us-gaap:ConvertibleDebtMemberjamf:ConvertibleSeniorNotesDue2026Member2021-09-300001721947us-gaap:FairValueInputsLevel2Memberus-gaap:ConvertibleDebtMemberjamf:ConvertibleSeniorNotesDue2026Member2021-09-300001721947us-gaap:CallOptionMember2021-09-172021-09-170001721947us-gaap:CallOptionMember2021-09-170001721947us-gaap:LineOfCreditMemberus-gaap:RevolvingCreditFacilityMember2020-07-270001721947us-gaap:LetterOfCreditMemberus-gaap:LineOfCreditMember2020-07-270001721947us-gaap:LineOfCreditMemberus-gaap:ForeignLineOfCreditMember2020-07-270001721947us-gaap:LineOfCreditMemberjamf:TermLoanMembersrt:MinimumMember2020-07-270001721947us-gaap:LetterOfCreditMemberus-gaap:LineOfCreditMember2020-12-310001721947us-gaap:LetterOfCreditMemberus-gaap:LineOfCreditMember2021-09-300001721947jamf:ThreeHundredSixtyFourDayFacilityMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMember2021-07-012021-07-010001721947jamf:ThreeHundredSixtyFourDayFacilityMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMember2021-07-010001721947us-gaap:LineOfCreditMemberus-gaap:RevolvingCreditFacilityMember2020-09-300001721947jamf:ThreeHundredSixtyFourDayFacilityMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMember2021-06-300001721947us-gaap:LineOfCreditMember2021-09-300001721947us-gaap:LineOfCreditMember2020-12-310001721947us-gaap:EmployeeStockOptionMember2021-07-012021-09-300001721947us-gaap:EmployeeStockOptionMember2020-07-012020-09-300001721947us-gaap:EmployeeStockOptionMember2021-01-012021-09-300001721947us-gaap:EmployeeStockOptionMember2020-01-012020-09-300001721947us-gaap:RestrictedStockUnitsRSUMember2021-07-012021-09-300001721947us-gaap:RestrictedStockUnitsRSUMember2020-07-012020-09-300001721947us-gaap:RestrictedStockUnitsRSUMember2021-01-012021-09-300001721947us-gaap:RestrictedStockUnitsRSUMember2020-01-012020-09-300001721947us-gaap:ConvertibleDebtSecuritiesMember2021-07-012021-09-300001721947us-gaap:ConvertibleDebtSecuritiesMember2020-07-012020-09-300001721947us-gaap:ConvertibleDebtSecuritiesMember2021-01-012021-09-300001721947us-gaap:ConvertibleDebtSecuritiesMember2020-01-012020-09-300001721947jamf:OmnibusIncentivePlan2020Member2020-07-210001721947jamf:OmnibusIncentivePlan2020Member2020-07-212020-07-210001721947jamf:OmnibusIncentivePlan2020Member2021-01-010001721947jamf:OmnibusIncentivePlan2020Member2021-09-300001721947jamf:StockOptionPlan2017Member2017-11-130001721947jamf:StockOptionPlan2017Member2021-09-300001721947jamf:StockOptionPlan2017Member2021-01-012021-09-300001721947jamf:EmployeeStockOptionTargetBasedMember2020-12-310001721947jamf:EmployeeStockOptionTargetBasedMember2020-01-012020-12-310001721947jamf:EmployeeStockOptionTargetBasedMember2021-01-012021-09-300001721947jamf:EmployeeStockOptionTargetBasedMember2021-09-300001721947us-gaap:RestrictedStockUnitsRSUMember2020-12-310001721947us-gaap:RestrictedStockUnitsRSUMember2021-01-012021-09-300001721947us-gaap:RestrictedStockUnitsRSUMember2021-09-300001721947us-gaap:RestrictedStockUnitsRSUMemberus-gaap:ShareBasedCompensationAwardTrancheOneMember2021-01-012021-09-300001721947us-gaap:RestrictedStockUnitsRSUMember2021-07-012021-09-300001721947jamf:EmployeeStockOptionServiceBasedMember2020-12-310001721947jamf:EmployeeStockOptionServiceBasedMember2020-01-012020-12-310001721947jamf:EmployeeStockOptionServiceBasedMember2021-01-012021-09-300001721947jamf:EmployeeStockOptionServiceBasedMember2021-09-300001721947us-gaap:CostOfSalesMemberus-gaap:SubscriptionAndCirculationMember2021-07-012021-09-300001721947us-gaap:CostOfSalesMemberus-gaap:SubscriptionAndCirculationMember2020-07-012020-09-300001721947us-gaap:CostOfSalesMemberus-gaap:SubscriptionAndCirculationMember2021-01-012021-09-300001721947us-gaap:CostOfSalesMemberus-gaap:SubscriptionAndCirculationMember2020-01-012020-09-300001721947us-gaap:CostOfSalesMemberus-gaap:TechnologyServiceMember2021-07-012021-09-300001721947us-gaap:CostOfSalesMemberus-gaap:TechnologyServiceMember2020-07-012020-09-300001721947us-gaap:CostOfSalesMemberus-gaap:TechnologyServiceMember2021-01-012021-09-300001721947us-gaap:CostOfSalesMemberus-gaap:TechnologyServiceMember2020-01-012020-09-300001721947us-gaap:SellingAndMarketingExpenseMember2021-07-012021-09-300001721947us-gaap:SellingAndMarketingExpenseMember2020-07-012020-09-300001721947us-gaap:SellingAndMarketingExpenseMember2021-01-012021-09-300001721947us-gaap:SellingAndMarketingExpenseMember2020-01-012020-09-300001721947us-gaap:ResearchAndDevelopmentExpenseMember2021-07-012021-09-300001721947us-gaap:ResearchAndDevelopmentExpenseMember2020-07-012020-09-300001721947us-gaap:ResearchAndDevelopmentExpenseMember2021-01-012021-09-300001721947us-gaap:ResearchAndDevelopmentExpenseMember2020-01-012020-09-300001721947us-gaap:GeneralAndAdministrativeExpenseMember2021-07-012021-09-300001721947us-gaap:GeneralAndAdministrativeExpenseMember2020-07-012020-09-300001721947us-gaap:GeneralAndAdministrativeExpenseMember2021-01-012021-09-300001721947us-gaap:GeneralAndAdministrativeExpenseMember2020-01-012020-09-3000017219472018-01-012018-12-310001721947us-gaap:RestrictedStockUnitsRSUMemberus-gaap:ShareBasedCompensationAwardTrancheOneMember2021-07-012021-09-300001721947us-gaap:RestrictedStockUnitsRSUMemberus-gaap:ShareBasedCompensationAwardTrancheTwoMember2021-07-012021-09-300001721947srt:AffiliatedEntityMemberjamf:JamfNationGlobalFoundationMember2021-07-012021-09-300001721947srt:AffiliatedEntityMemberjamf:JamfNationGlobalFoundationMember2021-01-012021-09-300001721947srt:AffiliatedEntityMemberjamf:JamfNationGlobalFoundationMember2020-01-012020-09-300001721947srt:AffiliatedEntityMemberjamf:JamfNationGlobalFoundationMember2020-07-012020-09-300001721947srt:AffiliatedEntityMemberjamf:JamfNationGlobalFoundationMember2021-09-300001721947srt:AffiliatedEntityMemberjamf:JamfNationGlobalFoundationMember2020-12-310001721947us-gaap:MajorityShareholderMemberjamf:VistaMember2021-07-012021-09-300001721947us-gaap:MajorityShareholderMemberjamf:VistaMember2021-01-012021-09-300001721947us-gaap:MajorityShareholderMemberjamf:VistaMember2020-07-012020-09-300001721947us-gaap:MajorityShareholderMemberjamf:VistaMember2020-01-012020-09-300001721947us-gaap:MajorityShareholderMemberjamf:VistaMember2021-09-300001721947us-gaap:MajorityShareholderMemberjamf:VistaMember2020-12-310001721947us-gaap:MajorityShareholderMemberjamf:VistaAffiliatesMember2021-07-012021-09-300001721947us-gaap:MajorityShareholderMemberjamf:VistaAffiliatesMember2020-07-012020-09-300001721947us-gaap:MajorityShareholderMemberjamf:VistaAffiliatesMember2021-01-012021-09-300001721947us-gaap:MajorityShareholderMemberjamf:VistaAffiliatesMember2020-01-012020-09-300001721947us-gaap:MajorityShareholderMemberjamf:VistaAffiliatesMember2021-09-300001721947us-gaap:MajorityShareholderMemberjamf:VistaAffiliatesMember2020-12-310001721947us-gaap:LineOfCreditMemberjamf:TermLoanMember2020-07-260001721947us-gaap:LineOfCreditMemberus-gaap:RevolvingCreditFacilityMember2020-07-260001721947jamf:TermLoanMemberus-gaap:MajorityShareholderMemberjamf:VistaAffiliatesMember2020-07-012020-09-300001721947jamf:TermLoanMemberus-gaap:MajorityShareholderMemberjamf:VistaAffiliatesMember2020-01-012020-09-30
Table of Contents
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_________________________________________________
FORM 10-Q
_________________________________________________
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended September 30, 2021
OR
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from                 to
Commission File Number: 001-39399
https://cdn.kscope.io/134d6ab7c3425a714aa7c5f8cb9263c2-jamf-20210930_g1.jpg
JAMF HOLDING CORP.
(Exact name of registrant as specified in its charter)
Delaware
(State or Other Jurisdiction of
Incorporation or Organization)
82-3031543
(I.R.S. Employer
Identification No.)
100 Washington Ave S, Suite 1100
Minneapolis, MN 55401
(Address of principal executive offices)
(612605-6625
(Registrant’s telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading symbol
Name of each exchange on which registered
Common Stock, $0.001 par value per share
JAMF
The NASDAQ Stock Market LLC
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes  No 
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes  No 
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer
Accelerated filer
Non-accelerated filer
Smaller reporting company
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes  No
On October 29, 2021, the Registrant had 119,045,075 shares of common stock, $0.001 par value, outstanding.


Table of Contents
Jamf Holding Corp.
INDEX
PAGE

2

Table of Contents
PART I. FINANCIAL INFORMATION
Item 1.    Financial Statements
JAMF HOLDING CORP.
CONSOLIDATED BALANCE SHEETS
(in thousands, except share and per share amounts)
September 30, 2021December 31, 2020
(Unaudited)
Assets
Current assets:
Cash and cash equivalents$227,148 $194,868 
Trade accounts receivable, net of allowances of $460 and $530 at September 30, 2021 and December 31, 2020, respectively
69,486 69,056 
Income taxes receivable652 632 
Deferred contract costs11,673 8,284 
Prepaid expenses18,677 13,283 
Other current assets3,592 1,113 
Total current assets331,228 287,236 
Equipment and leasehold improvements, net17,529 15,130 
Goodwill846,057 541,480 
Other intangible assets, net276,750 202,878 
Deferred contract costs, non-current27,830 22,202 
Other assets30,685 5,359 
Total assets$1,530,079 $1,074,285 
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable$12,717 $6,967 
Accrued liabilities98,598 31,916 
Income taxes payable730 713 
Deferred revenues211,029 160,002 
Total current liabilities323,074 199,598 
Deferred revenues, non-current59,338 45,507 
Deferred tax liability, net11,455 5,087 
Convertible senior notes, net361,474  
Other liabilities27,969 13,079 
Total liabilities783,310 263,271 
Commitments and contingencies (Note 8)
Stockholders’ equity:
Preferred stock, $0.001 par value, 50,000,000 shares authorized at September 30, 2021 and December 31, 2020; no shares issued and outstanding at September 30, 2021 and December 31, 2020
  
Common stock, $0.001 par value, 500,000,000 shares authorized at September 30, 2021 and December 31, 2020; 119,027,104 and 116,992,472 shares issued and outstanding at September 30, 2021 and December 31, 2020, respectively
119 117 
Additional paid‑in capital898,428 903,116 
Accumulated other comprehensive loss(8,120) 
Accumulated deficit(143,658)(92,219)
Total stockholders’ equity746,769 811,014 
Total liabilities and stockholders’ equity$1,530,079 $1,074,285 
The accompanying notes are an integral part of these consolidated financial statements.
3

Table of Contents
JAMF HOLDING CORP.
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except share and per share amounts)
(unaudited)
Three Months Ended September 30,Nine Months Ended September 30,
2021
2020 (1)
2021
2020 (1)
(As Revised)(As Revised)
Revenue:
Subscription$90,700 $65,634 $245,900 $178,438 
Services4,083 3,897 12,015 10,616 
License838 1,017 4,671 3,811 
Total revenue95,621 70,548 262,586 192,865 
Cost of revenue:
Cost of subscription (exclusive of amortization expense shown below)18,317 10,032 44,206 28,020 
Cost of services (exclusive of amortization expense shown below)2,955 2,447 8,027 7,747 
Amortization expense5,198 2,679 10,835 8,034 
Total cost of revenue26,470 15,158 63,068 43,801 
Gross profit69,151 55,390 199,518 149,064 
Operating expenses:
Sales and marketing40,856 23,773 103,640 67,558 
Research and development25,608 12,757 58,437 37,344 
General and administrative25,536 13,845 69,288 31,588 
Amortization expense7,025 5,633 18,275 16,941 
Total operating expenses99,025 56,008 249,640 153,431 
Loss from operations(29,874)(618)(50,122)(4,367)
Interest expense, net(1,386)(1,207)(1,608)(10,675)
Loss on extinguishment of debt(449)(5,213)(449)(5,213)
Foreign currency transaction loss(269)(154)(795)(471)
Other income, net   91 
Loss before income tax benefit(31,978)(7,192)(52,974)(20,635)
Income tax benefit1,595 1,804 1,535 4,917 
Net loss$(30,383)$(5,388)$(51,439)$(15,718)
Net loss per share, basic and diluted$(0.26)$(0.05)$(0.44)$(0.15)
Weighted‑average shares used to compute net loss per share, basic and diluted118,640,565 113,203,074 117,983,463 106,333,836 
(1) Certain prior period amounts have been revised to correct immaterial errors. See Note 1 for more information.
The accompanying notes are an integral part of these consolidated financial statements.
4

Table of Contents
JAMF HOLDING CORP.
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
(in thousands)
(unaudited)
Three Months Ended September 30,Nine Months Ended September 30,
2021
2020 (1)
2021
2020 (1)
(As Revised)(As Revised)
Net loss$(30,383)$(5,388)$(51,439)$(15,718)
Other comprehensive loss:
Foreign currency translation adjustments(8,120) (8,120) 
Total other comprehensive loss(8,120) (8,120) 
Comprehensive loss$(38,503)$(5,388)$(59,559)$(15,718)
(1) Certain prior period amounts have been revised to correct immaterial errors. See Note 1 for more information.
The accompanying notes are an integral part of these consolidated financial statements.
5

Table of Contents
JAMF HOLDING CORP.
CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY
(in thousands, except share amounts)
(unaudited)
Stock ClassAdditional Paid‑In
Capital
Accumulated Other Comprehensive Loss
Accumulated
Deficit (1)
Stockholders’
Equity (1)
Common
SharesAmount
(As Revised)(As Revised)
Three Months Ended September 30, 2021:
Balance, June 30, 2021118,249,912 $118 $917,116 $ $(113,275)$803,959 
Exercise of stock options269,416 1 1,506 — — 1,507 
Vesting of restricted stock units507,776 — — — — — 
Share‑based compensation— — 15,836 — — 15,836 
Purchase of capped calls— — (36,030)— — (36,030)
Foreign currency translation adjustments— — — (8,120)— (8,120)
Net loss— — — — (30,383)(30,383)
Balance, September 30, 2021
119,027,104 $119 $898,428 $(8,120)$(143,658)$746,769 
Three Months Ended September 30, 2020:
Balance, June 30, 2020102,862,404 $103 $570,434 $ $(78,467)$492,070 
Issuance of common stock upon initial public offering, net of underwriting discounts and commissions and offering costs13,500,000 14 318,979 — — 318,993 
Private placement85,880 — 2,233 — — 2,233 
Exercise of stock options15,000 — 82 — — 82 
Share‑based compensation— — 2,328 — — 2,328 
Net loss— — — — (5,388)(5,388)
Balance, September 30, 2020
116,463,284 $117 $894,056 $ $(83,855)$810,318 
(1) Certain prior period amounts have been revised to correct immaterial errors. See Note 1 for more information.
The accompanying notes are an integral part of these consolidated financial statements.

6

Table of Contents
JAMF HOLDING CORP.
CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (continued)
(in thousands, except share amounts)
(unaudited)
Stock ClassAdditional Paid‑In
Capital
Accumulated Other Comprehensive Loss
Accumulated
Deficit (1)
Stockholders’
Equity (1)
Common
SharesAmount
(As Revised)(As Revised)
Nine Months Ended September 30, 2021:
Balance, December 31, 2020116,992,472 $117 $903,116 $ $(92,219)$811,014 
Exercise of stock options1,526,856 2 8,568 — — 8,570 
Vesting of restricted stock units507,776 — — — — — 
Share‑based compensation— — 22,774 — — 22,774 
Purchase of capped calls— — (36,030)— — (36,030)
Foreign currency translation adjustments— — — (8,120)— (8,120)
Net loss— — — — (51,439)(51,439)
Balance, September 30, 2021
119,027,104 $119 $898,428 $(8,120)$(143,658)$746,769 
Nine Months Ended September 30, 2020:
Balance, December 31, 2019102,843,612 $103 $568,756 $ $(68,137)$500,722 
Issuance of common stock upon initial public offering, net of underwriting discounts and commissions and offering costs13,500,000 14 318,979 — — 318,993 
Private placement85,880 — 2,233 — — 2,233 
Exercise of stock options33,792 — 185 — — 185 
Share‑based compensation— — 3,903 — — 3,903 
Net loss— — — — (15,718)(15,718)
Balance, September 30, 2020
116,463,284 $117 $894,056 $ $(83,855)$810,318 
(1) Certain prior period amounts have been revised to correct immaterial errors. See Note 1 for more information.
The accompanying notes are an integral part of these consolidated financial statements.
7

Table of Contents
JAMF HOLDING CORP.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
(unaudited)
Nine Months Ended September 30,
2021
2020 (1)
(As Revised)
Cash flows from operating activities
Net loss$(51,439)$(15,718)
Adjustments to reconcile net loss to cash provided by operating activities:
Depreciation and amortization expense33,249 28,632 
Amortization of deferred contract costs9,034 5,518 
Amortization of debt issuance costs573 700 
Non-cash lease expense3,705  
Provision for bad debt expense and returns(7)894 
Loss on extinguishment of debt449 5,213 
Share‑based compensation22,774 3,903 
Deferred tax benefit(2,568)(5,169)
Adjustment to contingent consideration4,837 (3,100)
Other1,144 (277)
Changes in operating assets and liabilities:
Trade accounts receivable3,184 (18,274)
Income tax receivable/payable(107)(183)
Prepaid expenses and other assets(8,129)(4,200)
Deferred contract costs(18,052)(13,970)
Accounts payable5,020 2,987 
Accrued liabilities1,644 (4,207)
Deferred revenue59,464 47,189 
Other liabilities52 3,161 
Net cash provided by operating activities64,827 33,099 
Cash flows from investing activities
Acquisitions, net of cash acquired(352,711) 
Purchases of equipment and leasehold improvements(7,261)(1,836)
Proceeds from sale of equipment and leasehold improvements35  
Net cash used in investing activities(359,937)(1,836)
Cash flows from financing activities
Proceeds from convertible senior notes373,750  
Proceeds from bank borrowings250,000  
Payment of bank borrowings(250,000)(205,000)
Payment for purchase of capped calls(36,030) 
Debt issuance costs(12,636)(1,264)
Payment of debt extinguishment costs (2,050)
Proceeds from initial public offering, net of underwriting discounts and commissions 326,316 
Cash paid for offering costs(543)(6,601)
Proceeds from private placement 2,233 
Cash paid for contingent consideration(4,206) 
Proceeds from the exercise of stock options8,570 185 
Net cash provided by financing activities328,905 113,819 
Effect of exchange rate changes on cash, cash equivalents and restricted cash(865) 
Net increase in cash, cash equivalents and restricted cash32,930 145,082 
Cash, cash equivalents and restricted cash, beginning of period194,868 32,375 
Cash, cash equivalents and restricted cash, end of period$227,798 $177,457 
(1) Certain prior period amounts have been revised to correct immaterial errors. See Note 1 for more information.
The accompanying notes are an integral part of these consolidated financial statements.
8

Table of Contents
JAMF HOLDING CORP.
CONSOLIDATED STATEMENTS OF CASH FLOWS (continued)
(in thousands)
(unaudited)
Nine Months Ended September 30,
2021
2020 (1)
(As Revised)
Supplemental disclosures of cash flow information:
Cash paid for:
Interest$944 $12,647 
Income taxes, net of refunds1,047 703 
Non-cash activities:
Deferred consideration accrued but not paid50,000  
Debt issuance costs accrued but not paid489  
Operating lease assets obtained in exchange for operating lease liabilities1,469  
Reconciliation of cash, cash equivalents and restricted cash within the consolidated balance sheets to the amounts shown in the consolidated statements of cash flows above:    
Cash and cash equivalents$227,148 $177,457 
Restricted cash included in other current assets650  
Total cash, cash equivalents and restricted cash$227,798 $177,457 
(1) Certain prior period amounts have been revised to correct immaterial errors. See Note 1 for more information.
The accompanying notes are an integral part of these consolidated financial statements.
9

Table of Contents
JAMF HOLDING CORP.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(unaudited)

Note 1. Basis of presentation and description of business
Description of business
Jamf Holding Corp. and its wholly owned subsidiaries, collectively, are referred to as the “Company,” “we,” “us” or “our.” We are the standard in Apple Enterprise Management, and our cloud software platform is the only vertically-focused Apple infrastructure and security platform of scale in the world. We help organizations connect, manage and protect Apple products, apps and corporate resources in the cloud without ever having to touch the devices. With our products, Apple devices can be deployed to employees brand new in the shrink-wrapped box, automatically set up and personalized at first power-on and continuously administered throughout the life of the device. Our customers are located throughout the world.
Initial public offering
On July 24, 2020, the Company closed its initial public offering (“IPO”) through which it issued and sold 13,500,000 shares of common stock at the IPO price of $26.00 per share. In connection with the IPO, the Company raised approximately $319.0 million after deducting the underwriting discount and commissions of $24.7 million and offering expenses of $7.3 million. Upon completion of the IPO, authorized capital stock consisted of 500,000,000 shares of common stock, par value $0.001 per share, and 50,000,000 shares of undesignated preferred stock, par value $0.001 per share.
Concurrently with the Company’s IPO, the Company issued and sold 85,880 shares of its common stock in a private placement to certain of its named executive officers, certain of its other employees and its independent directors at the IPO Price for aggregate consideration of approximately $2.2 million.
Upon closing of the IPO, the Company repaid $205.0 million of the principal amount of its then existing Term Loan Facility (the “Prior Term Loan Facility”) and paid $3.4 million of accrued interest and $2.0 million of prepayment penalty. The Company also wrote off $3.2 million of remaining debt issuance costs upon repayment of the debt. The Company recorded a loss on debt extinguishment of $5.2 million for the prepayment penalty and write off of debt issuance costs in the third quarter of 2020.
Emerging growth company status
We are currently 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.
On June 30, 2021, the last day of our second fiscal quarter in 2021, the market value of our common stock held by non-affiliates exceeded $700.0 million. Accordingly, we will be deemed a large accelerated filer as of December 31, 2021 and will no longer qualify as an emerging growth company or be able to take advantage of the extended timeline to comply with new or revised accounting standards applicable to public companies beginning with our Annual Report on Form 10-K for the year ending December 31, 2021.
Unaudited interim consolidated financial information
The accompanying interim consolidated balance sheet as of September 30, 2021, the consolidated statements of operations and of stockholders’ equity for the three and nine months ended September 30, 2021 and 2020 and the consolidated statements of cash flows for the nine months ended September 30, 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
10

Table of Contents
JAMF HOLDING CORP.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
(unaudited)
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. Except for the revision discussed below, all adjustments made were of a normal recurring nature. The results for the three and nine months ended September 30, 2021 are not necessarily indicative of the results to be expected for the year ending December 31, 2021 or for any future period.
Basis of presentation
The accompanying consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). 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 and nine months ended September 30, 2020 was $7.8 million and $18.2 million, respectively. 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.
Revision of previously issued consolidated financial statements
In connection with the preparation of its financial statements for the quarter ended June 30, 2021, the Company identified immaterial errors related to certain commissions that were incorrectly capitalized in prior periods. The commissions, as well as the associated payroll taxes and retirement plan contributions, were not incremental to the acquisition of customer contracts and should have been expensed as incurred in accordance with GAAP, rather than capitalized. As a result, sales and marketing expenses were understated and deferred contract costs were overstated by $2.5 million, $2.0 million, $1.8 million and $0.8 million for the years ended December 31, 2020, 2019 and 2018 and the three months ended March 31, 2021, respectively.
In accordance with Staff Accounting Bulletin (“SAB”) No. 99, Materiality and SAB No. 108, Considering the Effects of Prior Year Misstatements When Quantifying Misstatements in Current Year Financial Statements, the Company evaluated the materiality of this error both quantitatively and qualitatively and determined that it was not material to our previously issued consolidated financial statements. However, adjusting for the cumulative effect of this error in the consolidated statement of operations for 2021 would be material to the Company’s results for this period as the cumulative amount of the error increased over time. As such, the Company has revised its previously issued consolidated financial statements as of and for the years ended December 31, 2020, 2019 and 2018 and its unaudited consolidated financial statements as of and for the quarter ended March 31, 2021 and quarters and year-to-date periods ended June 30, 2020 and September 30, 2020 to correct the error.
The revisions also include the corrections of other immaterial errors that the Company had previously recorded as out-of-period adjustments in the period of identification, as well as other previously identified immaterial errors. The previously recorded out-of-period adjustments included the establishment of state valuation allowances, as well as other immaterial errors. The Company had previously determined that these errors did not, both individually and in the aggregate, result in a material misstatement of our previously issued consolidated financial statements and reached the same conclusion when aggregating these immaterial errors with the commissions error described above.
The accompanying financial statements and relevant footnotes to the consolidated financial statements in this Quarterly Report on Form 10-Q have been revised to correct for the immaterial errors discussed above. The tables below provide reconciliations of our previously reported amounts to revised amounts to correct for these immaterial errors in our consolidated financial statements as of December 31, 2020 and for the quarter and year-to-date periods ended September 30, 2020.
11

Table of Contents
JAMF HOLDING CORP.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
(unaudited)
December 31, 2020
As Previously ReportedAdjustmentsAs Revised
CommissionsOther
(in thousands)
Assets
Current assets:
Cash and cash equivalents$194,868 $ $ $194,868 
Trade accounts receivable, net of allowances69,056   69,056 
Income taxes receivable632   632 
Deferred contract costs9,959 (1,675) 8,284 
Prepaid expenses13,283   13,283 
Other current assets1,113   1,113 
Total current assets288,911 (1,675) 287,236 
Equipment and leasehold improvements, net12,755  2,375 15,130 
Goodwill541,480   541,480 
Other intangible assets, net202,878   202,878 
Deferred contract costs, non-current26,770 (4,568) 22,202 
Other assets5,359   5,359 
Total assets$1,078,153 $(6,243)$2,375 $1,074,285 
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable$6,967 $ $ $6,967 
Accrued liabilities31,574  342 31,916 
Income taxes payable713   713 
Deferred revenues160,443  (441)160,002 
Total current liabilities199,697  (99)199,598 
Deferred revenues, non-current45,507   45,507 
Deferred tax liability, net6,422 (1,535)200 5,087 
Other liabilities11,046  2,033 13,079 
Total liabilities262,672 (1,535)2,134 263,271 
Commitments and contingencies
Stockholders’ equity:
Preferred stock    
Common stock117   117 
Additional paid‑in capital903,116   903,116 
Accumulated deficit(87,752)(4,708)241 (92,219)
Total stockholders’ equity815,481 (4,708)241 811,014 
Total liabilities and stockholders’ equity$1,078,153 $(6,243)$2,375 $1,074,285 




12

Table of Contents
JAMF HOLDING CORP.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
(unaudited)

Three Months Ended September 30, 2020
As Previously Reported (1)
AdjustmentsAs Revised
CommissionsOther
(in thousands, except share and per share amounts)
Revenue:
Subscription$65,782 $