0001628280-22-004530 | 10-K | XBRL Viewer

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CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 177,150	$ 194,868
Trade accounts receivable, net of allowances of $391 and $530 at December 31, 2021 and 2020, respectively	79,143	69,056
Income taxes receivable	608	632
Deferred contract costs	12,904	8,284
Prepaid expenses	17,581	13,283
Other current assets	4,212	1,113
Total current assets	291,598	287,236
Equipment and leasehold improvements, net	18,045	15,130
Goodwill	845,734	541,480
Other intangible assets, net	264,593	202,878
Deferred contract costs, non-current	29,842	22,202
Other assets	30,608	5,359
Total assets	1,480,420	1,074,285
Current liabilities:
Accounts payable	9,306	6,967
Accrued liabilities	54,022	31,916
Income taxes payable	167	713
Deferred revenues	223,031	160,002
Total current liabilities	286,526	199,598
Deferred revenues, non-current	59,097	45,507
Deferred tax liability, net	8,700	5,087
Convertible Debt, Noncurrent	362,031	0
Other liabilities	25,640	13,079
Total liabilities	741,994	263,271
Commitments and contingencies
Stockholders’ equity:
Common stock, shares issued (in shares)	119,426,064	116,992,472
Common stock, shares outstanding (in shares)	119,426,064	116,992,472
Total stockholders’ equity	$ 738,426	$ 811,014
Total liabilities and stockholders’ equity	$ 1,480,420	$ 1,074,285

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Assets
Allowance	$ 391	$ 530
Stockholders’ equity:
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized ( in shares)	50,000,000	50,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	119,426,064	116,992,472
Common stock, shares outstanding (in shares)	119,426,064	116,992,472

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenue:
Total revenue	$ 366,388	$ 269,132	$ 203,965
Cost of revenue:
Amortization expense	16,018	10,753	10,266
Total cost of revenue	90,357	61,008	55,962
Gross profit	276,031	208,124	148,003
Operating expenses:
Sales and marketing	148,192	98,885	73,103
Research and development	82,541	52,513	42,898
General and administrative	96,206	51,603	31,509
Amortization expense	25,294	22,575	22,416
Total operating expenses	352,233	225,576	169,926
Loss from operations	(76,202)	(17,452)	(21,923)
Interest expense, net	(2,478)	(10,741)	(21,423)
Loss on extinguishment of debt	(449)	(5,213)	0
Foreign currency transaction loss	(849)	(722)	(1,252)
Other income, net	0	91	220
Loss before income tax benefit	(79,978)	(34,037)	(44,378)
Income tax benefit	4,789	9,955	10,033
Net loss	$ (75,189)	$ (24,082)	$ (34,345)
Net loss per share, basic (in dollars per share)	$ (0.64)	$ (0.22)	$ (0.33)
Net loss per share, diluted (in dollars per share)	$ (0.64)	$ (0.22)	$ (0.33)
Weighted-average shares used to compute net loss per share, basic (in shares)	118,276,462	108,908,597	102,752,092
Weighted-average shares used to compute net loss per share, diluted (in shares)	118,276,462	108,908,597	102,752,092
Subscription
Revenue:
Total revenue	$ 344,243	$ 248,879	$ 175,118
Cost of revenue:
Cost of revenue	63,441	39,529	31,457
Services
Revenue:
Total revenue	16,122	14,519	19,014
Cost of revenue:
Cost of revenue	10,898	10,726	14,239
License
Revenue:
Total revenue	$ 6,023	$ 5,734	$ 9,833

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement of Comprehensive Income [Abstract]
Net loss	$ (75,189)	$ (24,082)	$ (34,345)
Other comprehensive loss:
Foreign currency translation adjustments	(7,866)	0	0
Total other comprehensive loss	(7,866)	0	0
Comprehensive loss	$ (83,055)	$ (24,082)	$ (34,345)

- 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

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	IPO	Private placement	Common Stock	Common Stock IPO	Common Stock Private placement	Additional Paid‑In Capital	Additional Paid‑In Capital IPO	Additional Paid‑In Capital Private placement	Accumulated Other Comprehensive Loss	Accumulated Deficit
Beginning balance (in shares) at Dec. 31, 2018				102,649,701
Beginning balance at Dec. 31, 2018	$ 531,683			$ 103			$ 565,372			$ 0	$ (33,792)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options (in shares)				168,391
Exercise of stock options	923			$ 0			923
Vesting of restricted stock units (in shares)				25,520
Share‑based compensation	2,461						2,461
Foreign currency translation adjustments	0
Net loss	(34,345)										(34,345)
Ending balance (in shares) at Dec. 31, 2019				102,843,612
Ending balance at Dec. 31, 2019	500,722			$ 103			568,756			0	(68,137)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options (in shares)				526,460
Exercise of stock options	2,985						2,985
Issuance of common stock (in shares)					13,500,000	85,880
Issuance of common stock		$ 322,413	$ 2,233		$ 14			$ 322,399	$ 2,233
Vesting of restricted stock units (in shares)				36,520
Share‑based compensation	6,743						6,743
Foreign currency translation adjustments	0
Net loss	(24,082)										(24,082)
Ending balance (in shares) at Dec. 31, 2020				116,992,472
Ending balance at Dec. 31, 2020	811,014			$ 117			903,116			0	(92,219)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options (in shares)				1,903,560
Exercise of stock options	10,691			$ 1			10,690
Vesting of restricted stock units (in shares)				530,032
Vesting of restricted stock units	1			$ 1
Share‑based compensation	35,805						35,805
Purchase of capped calls	(36,030)						(36,030)
Foreign currency translation adjustments	(7,866)									(7,866)
Net loss	(75,189)										(75,189)
Ending balance (in shares) at Dec. 31, 2021				119,426,064
Ending balance at Dec. 31, 2021	$ 738,426			$ 119			$ 913,581			$ (7,866)	$ (167,408)

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities
Net loss	$ (75,189)	$ (24,082)	$ (34,345)
Adjustments to reconcile net loss to cash provided by operating activities:
Depreciation and amortization expense	47,069	38,511	37,082
Amortization of deferred contract costs	12,534	7,953	5,236
Amortization of debt issuance costs	1,251	773	1,120
Non-cash lease expense	4,994	0	0
Provision for credit losses and returns	37	1,024	279
Loss on extinguishment of debt	449	5,213	0
Share‑based compensation	35,805	6,743	2,461
Deferred tax benefit	(5,644)	(10,318)	(11,169)
Adjustment to contingent consideration	6,037	(1,000)	200
Other	1,419	(490)	(292)
Changes in operating assets and liabilities:
Trade accounts receivable	(6,521)	(23,112)	(14,799)
Income tax receivable/payable	(611)	(766)	559
Prepaid expenses and other assets	(9,265)	(3,620)	(5,106)
Deferred contract costs	(24,795)	(20,398)	(14,045)
Accounts payable	2,069	4,026	1,000
Accrued liabilities	4,345	5,501	6,349
Deferred revenue	71,216	64,945	37,374
Other liabilities	(35)	1,898	(58)
Net cash provided by operating activities	65,165	52,801	11,846
Cash flows from investing activities
Acquisitions, net of cash acquired	(352,711)	(2,512)	(40,173)
Payment of deferred consideration	(25,000)	0	0
Purchases of equipment and leasehold improvements	(9,755)	(4,368)	(7,190)
Proceeds from sale of equipment and leasehold improvements	48	4	0
Net cash used in investing activities	(387,418)	(6,876)	(47,363)
Cash flows from financing activities
Proceeds from convertible senior notes	373,750	0	0
Proceeds from bank borrowings	250,000	0	40,000
Payment of bank borrowings	(250,000)	(205,000)	(10,000)
Payment for purchase of capped calls	(36,030)	0	0
Debt issuance costs	(13,134)	(1,264)	(1,550)
Payment of debt extinguishment costs	0	(2,050)	0
Proceeds from initial public offering, net of underwriting discounts and commissions	0	326,316	0
Cash paid for offering costs	(543)	(7,256)	(721)
Proceeds from private placement	0	2,233	0
Cash paid for contingent consideration	(4,206)	0	0
Payment of deferred consideration	(25,000)	0	0
Proceeds from the exercise of stock options	10,691	2,985	923
Net cash provided by financing activities	305,528	115,964	28,652
Effect of exchange rate changes on cash and cash equivalents	(993)	604	0
Net (decrease) increase in cash and cash equivalents	(17,718)	162,493	(6,865)
Cash and cash equivalents, beginning of period	194,868	32,375	39,240
Cash and cash equivalents, end of period	177,150	194,868	32,375
Cash paid for:
Interest	967	12,649	20,693
Income taxes, net of refunds	1,334	1,394	596
Non-cash activities:
Debt issuance costs accrued but not paid	50	0	0
Operating lease assets obtained in exchange for operating lease liabilities	1,470	0	0
Leasehold improvements acquired through lease incentives	$ 0	$ 0	$ 2,672

Basis of presentation and description of business

12 Months Ended

Dec. 31, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

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 IT and security teams confidently protect the devices, data, and applications used by their workforce, while providing employees with consumer-simple, privacy-protecting technology. With Jamf’s software, devices can be deployed to employees brand new in the shrink-wrapped box, set up automatically and personalized at first power-on and administered continuously throughout the lifecycle of the device. Our customers are located throughout the world.

Initial public offering

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

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

Upon closing of the IPO, the Company repaid $205.0 million of the principal amount of the 2017 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

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, the Company was deemed a large accelerated filer as of December 31, 2021, and, therefore, we no longer qualify as an emerging growth company and can no longer take advantage of the extended timeline to comply with new or revised accounting standards applicable to public companies beginning with this Annual Report on Form 10-K.

Basis of presentation and principles of consolidation

The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. The accompanying consolidated financial statements have been prepared in accordance with GAAP.

The consolidated financial statements and footnotes to the consolidated financial statements in this Annual Report on Form 10-K reflect the revisions previously made for immaterial errors related to certain commissions that were incorrectly capitalized in prior periods as well as various other immaterial errors. See Exhibit 99.1 titled, “Updates to the Company’s Annual Report on Form 10-K for the Year Ended December 31, 2020”, of our Form 8-K, filed with the SEC on August 27, 2021, for more information.

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, the fair values of assets acquired and liabilities assumed in business combinations, useful lives for finite-lived assets, recoverability of long-lived assets, the value of right-of-use assets and lease liabilities, allowance for expected credit losses, commitments and contingencies, and accounting for income taxes and related valuation allowances against deferred tax assets. 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 location where the sale originated was as follows:


	Years Ended December 31,
	2021		2020		2019
	(in thousands)
The Americas (1)	$	271,047	$	208,171	$	156,001
Europe, the Middle East, India, and Africa	71,521		45,775		36,431
Asia Pacific	23,820		15,186		11,533
	$	366,388	$	269,132	$	203,965

(1) The vast majority of the Americas is the United States.

Long-lived assets, which include equipment and leasehold improvements, net and operating lease right-of-use (“ROU”) assets for purposes of this disclosure, by geographic region were as follows:


	December 31,
	2021		2020
	(in thousands)
The Americas	$	30,459	$	11,227
Europe, the Middle East, India, and Africa	6,839		2,310
Asia Pacific	2,347		1,593
	$	39,645	$	15,130

The United States held 77% and 74% of the total long-lived assets as of December 31, 2021 and 2020, respectively.

The Company adopted ASC Topic 842, Leases (“ASC 842”) on January 1, 2021 and, therefore, did not have any operating lease ROU assets as of December 31, 2020. See Note 2 for more information.

Summary of significant accounting policies

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Summary of significant accounting policies

Net loss per share of common stock

Basic net loss per common share is calculated by dividing the net loss by the weighted-average number of common shares outstanding during the period without consideration for potentially dilutive securities. Diluted net loss per common share is calculated by dividing the net loss by the weighted-average number of common shares and potentially dilutive securities outstanding during the period. The potentially dilutive securities include outstanding stock options, unvested RSUs, shares related to the 2026 Notes, and shares issuable pursuant to the 2021 ESPP and are determined by applying either the treasury-stock method or the if-converted method, as applicable. Because we have reported a net loss for the years ended December 31, 2021, 2020, and 2019, the number of shares used to calculate diluted net loss per common share is the same as the number of shares used to calculate basic net loss per common share for those periods because the potentially dilutive shares would have been anti-dilutive if included in the calculation.

Cash and cash equivalents

The Company considers any highly liquid investments purchased with original or remaining maturities at the time of purchase of three months or less to be cash equivalents. The Company maintains cash in deposit accounts that, at times, may exceed federally insured limits. The Company has not experienced any losses in such accounts.

Trade receivables, net

Credit is extended to customers in the normal course of business, generally with 30-day payment terms. Trade receivables are recorded at the invoiced amount, net of allowances.

Effective January 1, 2021, upon adoption of ASU No. 2016-13, Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”), the allowance for credit losses is based on an expected loss model that estimates losses over the expected life of the trade receivables. The Company estimates expected credit losses based on the Company’s historical loss information, current and future economic and market conditions, and ongoing review of customers’ account balances. Prior to the adoption of ASU 2016-13, the Company determined the allowance for doubtful accounts based on the delinquency of the account, the financial condition of the customer, and the Company’s collection experience.

The Company writes-off a receivable against the allowance when a determination is made that the balance is uncollectible and collection of the receivable is no longer being actively pursued. This determination is based on the delinquency of the account, the financial condition of the customer, and the Company’s collection experience.

Activity related to our allowance for credit losses for trade receivables was as follows:


	Years Ended December 31,
	2021		2020		2019
	(in thousands)
Balance, beginning of period	$	530	$	200	$	60
Provision	143		824		279
Write-offs	(373)		(494)		(139)
Recoveries of amounts previously written off	91		—		—
Balance, end of period	$	391	$	530	$	200

Equipment and leasehold improvements, net

Equipment and leasehold improvements are recorded at cost less accumulated depreciation. Expenditures for renewals and betterments that extend the life of such assets are capitalized. Depreciation is computed using the straight-line method over the estimated useful lives of the assets. These lives are three to five years for computers and server equipment, three years for software, five to seven years for furniture and fixtures, and the lesser of the lease term or the useful life of the leasehold improvements. Repair and maintenance costs are expensed as incurred. Differences between amounts received and the net carrying value of assets retired or disposed of are charged to income as incurred.

Equipment and leasehold improvements, net are tested for impairment whenever events or circumstances indicate that the carrying amount of an asset may not be recoverable. There were no impairment losses recognized during the years ended December 31, 2021, 2020, and 2019.

Business combinations

When the Company acquires a business, the purchase price is allocated to the assets acquired and liabilities assumed based on their estimated fair values as of the date of acquisition. The allocation of the purchase price requires management to make significant estimates in determining the fair value of assets acquired and liabilities assumed, especially with respect to intangible assets. These estimates are inherently uncertain and unpredictable. During the measurement period, which may be up to one year from the acquisition date, adjustments to the fair value of the assets acquired and liabilities assumed may be recorded with the corresponding offset to goodwill. Upon the conclusion of the measurement period or final determination of the fair value of the assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to the consolidated statements of operations. Acquisition-related costs are expensed as incurred.

Goodwill

The Company evaluates goodwill for impairment in accordance with ASC 350, which requires goodwill to be either qualitatively or quantitatively assessed for impairment annually (or more frequently if impairment indicators arise) for each reporting unit. The Company has one reporting unit. The Company performs its impairment testing of goodwill at least annually and more frequently if events occur that would indicate that it is more likely than not the fair value of the reporting unit is less than the carrying value. If the Company’s reporting unit carrying amount exceeds its fair value, an impairment charge will be recorded based on that difference. The impairment charge will be limited to the amount of goodwill currently recognized in the Company’s single reporting unit. The Company performed the annual assessment as of October 1, 2021, and no impairment was identified. No other interim impairment tests were deemed necessary.

Other intangibles, net

Intangible assets with finite lives include trademarks, customer relationships, developed technology, non-competes, and order backlog. These assets are amortized over their estimated useful lives, which range from two to twelve years, on a straight-line basis. Intangible assets with finite lives are tested for impairment whenever events or circumstances indicate that the carrying amount of an asset (asset group) may not be recoverable. An impairment loss is recognized when the carrying amount of an asset exceeds the estimated undiscounted cash flows generated by the asset. The amount of the impairment loss recorded is calculated by the excess of the asset’s carrying value over its fair value. There were no impairment losses recognized during the years ended December 31, 2021, 2020, and 2019.

Intangible assets with indefinite lives include in-process research and development (“IPR&D”). These assets are not amortized, but are assessed for potential impairment annually or when circumstances indicate that the carrying amount may not be recoverable. There were no impairment losses recognized during the year ended December 31, 2021.

Operating leases

The Company adopted ASC 842 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 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”).

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.

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. 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.

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 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.

Debt issuance costs

Costs of debt financing are charged to expense over the lives of the related financing agreements. Remaining costs and the future period over which they would be charged to expense are reassessed when amendments to the related financing agreements or prepayments occur. Debt issuance costs for the Company’s 2026 Notes are recognized as an offset to the liability and are amortized using the effective-interest method. Debt issuance costs for the Company’s revolving line of credit are recognized in other assets and are amortized on a straight-line basis.

Stock split

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

Offering costs

Prior to the IPO, the Company capitalized offering costs incurred in connection with the sale of common stock in the IPO, including legal, accounting, printing, and other IPO-related costs. Upon completion of the IPO, $7.3 million of deferred offering costs were reclassified to stockholders’ equity and recorded against the proceeds from the offering. During the years ended December 31, 2021 and 2020, the Company incurred costs of $0.6 million and $0.7 million, respectively, in connection with the sale of common stock in secondary offerings after the IPO. The Company did not receive any proceeds as only certain selling shareholders participated in these offerings. These costs were expensed as incurred and included in general and administrative expenses in the consolidated statements of operations.

Foreign currency

Our reporting currency is the U.S. dollar. The functional currency of our foreign operations, except for Wandera Ltd. and its subsidiaries, is the U.S. dollar. The functional currency of Wandera Ltd. and its subsidiaries is the GBP. The assets, liabilities, revenues, and expenses of our foreign operations are remeasured in accordance with ASC Topic 830, Foreign Currency Matters. Remeasurement adjustments are recorded as foreign currency transaction gains (losses) in the consolidated statement of operations. Assets and liabilities of Wandera Ltd. and its subsidiaries are translated into U.S. dollars based upon exchange rates prevailing at the end of each period. Revenues and expenses of Wandera Ltd. and its subsidiaries are translated at weighted-average exchange rates on a monthly basis. The resulting translation adjustment is included in accumulated other comprehensive loss.

Stock-based compensation

In accordance with ASC 718, the Company recognizes compensation expense for all stock-based awards granted to our employees and non-employee directors in the consolidated statements of operations based on the estimated fair value of the awards on the date of grant. We use the Black-Scholes option pricing model to estimate the fair value of service-based options and purchase rights granted under the 2021 ESPP. We use the fair market value of our common stock on the date of grant to estimate the fair value of RSUs. We recognize compensation expense for service-based options and RSUs on a straight-line basis over the applicable vesting period. We recognize compensation expense for the purchase rights granted under the 2021 ESPP on a straight-line basis over the offering period. Forfeitures are accounted for as they occur.

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

In conjunction with the IPO, the vesting conditions of the performance-based awards were modified to also vest following an IPO and registration and sale of shares by Vista provided that Vista achieves a cash return on its equity investment in the Company equaling or exceeding $1.515 billion. In accordance with ASC 718, we calculated the fair value of these

options on the modification date. The value of these options on the date of modification as of June 30, 2020 was $33.0 million. As the awards are not currently considered probable of meeting the vesting requirements, no expense has been recognized, and the timing of any future expense recognition is unknown.

The Black-Scholes option pricing model requires the use of subjective assumptions as inputs. These assumptions include the following:

•Expected Term — The expected term of stock options represents the weighted-average period the stock options are expected to be outstanding. For time-based awards, the estimated expected term of the options granted is generally calculated as the vesting period plus the midpoint of the remaining contractual term as the Company does not have sufficient historical information to develop reasonable expectations surrounding future exercise patterns and post-vesting employment termination behavior. The expected term for the purchase rights issued under the 2021 ESPP is based on the duration of the offering period.

•Expected Volatility — For return target options modified during the year ended December 31, 2020 and return target options and service-based options granted during the year ended December 31, 2019, the expected stock price volatility assumption was determined by examining the historical volatility of a group of industry peers as the Company did not have substantive trading history for its common stock. For the purchase rights issued under the 2021 ESPP, the expected volatility was based on the Company’s historical data.

•Risk-Free Interest Rate — The risk-free rate assumption was based on U.S. Treasury instruments with terms that were consistent with the expected term of the Company’s stock options and offering period for the 2021 ESPP.

•Expected Dividend — The Company uses an expected dividend yield of zero as we do not currently pay dividends and have no plans to pay dividends in the foreseeable future.

•Fair Value of Common Stock — Following the IPO, the Company’s shares are publicly traded, and the Company uses the applicable closing price of its common stock to determine fair value. Prior to the IPO, the fair value of the shares of common stock underlying the stock options had historically been the responsibility of and determined by the Company’s Board. Because there was no public market for the Company’s common stock prior to our IPO, the Board used independent third-party valuations of the Company’s common stock, operating and financial performance, and general and industry-specific economic outlook, amongst other factors.

Income taxes

We account for income taxes in accordance with ASC Topic 740, Income Taxes, under which deferred tax liabilities and assets are recognized for the expected future tax consequences of temporary differences between financial statement carrying amounts and the tax basis of assets and liabilities, net operating loss, and tax credit carryforwards. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized.

We use a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. A tax position is recognized when it is more likely than not that the tax position will be sustained upon examination, including resolution of any related appeals or litigation processes. A tax position that meets the more-likely-than-not recognition threshold is measured at the largest amount of benefit that is greater than 50% likely of being realized upon ultimate settlement with a taxing authority. The standard also provides guidance on derecognition of tax benefits, classification on the balance sheet, interest and penalties, accounting in interim periods, disclosure, and transition.

Revenue recognition

The Company applies ASC 606 and follows the following five-step model to determine the appropriate amount of revenue to be recognized in accordance with ASC 606:

•Identify the contract with a customer

•Identify the performance obligations in the contract

•Determine the transaction price

•Allocate the transaction price to the performance obligations in the contract

•Recognize revenue when or as performance obligations are satisfied

The Company’s revenue is primarily derived from sales of SaaS subscriptions, support and maintenance contracts, software licenses, and related professional services. The Company’s products and services are marketed and sold directly, as well as indirectly through third-party resellers, to the end-user.

The Company assesses the contract term as the period in which the parties to the contract have enforceable rights and obligations. The contract term can differ from the stated term in contracts with certain termination or renewal rights, depending on whether there are substantive penalties associated with those rights. Customer contracts are generally standardized and non-cancelable for the duration of the stated contract term.

Nature of Products and Services

Subscription: Subscription includes SaaS subscription arrangements, which include a promise to allow customers to access software hosted by the Company over the contract period without allowing the customer to take possession of the software or transfer hosting to a third party. Subscription also includes support and maintenance, which includes when-and-if available software updates and technical support on our perpetual and on-premise subscription licenses. Because the subscription represents a stand-ready obligation to provide a series of distinct periods of access to the subscription, which are all substantially the same and that have the same pattern of transfer to the customer, subscriptions are accounted for as a series and revenue is recognized ratably over the contract term, beginning at the point when the customer is able to use and benefit from the subscription. Subscription also includes sales of on-premise subscription arrangements. Licenses for on-premise software provide the customer with a right to use the software as it exists when made available to the customer. Revenue from software licenses is recognized upon transfer of control to the customer, which is typically upon making the software available to the customer.

Services: Services, including training, are often sold as part of new software license or subscription contracts. These services are fulfilled by the Company and with the use of other vendors and do not significantly modify, integrate, or otherwise depend on other performance obligations included in the contracts. Services are generally performed over a one- to two-day period and, when sold as part of new software license or subscription contracts, at or near the outset of the related contract. When other vendors participate in the provisioning of the services, the Company recognizes the related revenue on a gross basis as the Company is the principal in these arrangements. Revenue related to services is recognized as the Company’s performance obligation is fulfilled. Related fulfillment costs are recognized as incurred.

License: License includes sales of on-premise perpetual software. Licenses for on-premise software provide the customer with a right to use the software as it exists when made available to the customer. Revenue from software licenses is recognized upon transfer of control to the customer, which is typically upon making the software available to the customer.

Certain contracts may include explicit options to renew maintenance at a stated price. These options are generally priced in line with the SSP and therefore do not provide a material right to the customer. If the option provides a material right to the customer, then the material right is accounted for as a separate performance obligation, and the Company recognizes revenue when those future goods or services underlying the option are transferred or when the option expires.

Transaction Price

The transaction price is the amount of consideration to which the Company expects to be entitled in exchange for transferring goods and services to the customer. The transaction price is exclusive of amounts collected on behalf of third parties, such as sales tax and value-added tax.

Significant Judgments

When the Company’s contracts with customers contain multiple performance obligations, the contract transaction price is allocated on a relative SSP basis to each performance obligation. The Company typically determines SSP based on observable selling prices of its products and services.

In instances where SSP is not directly observable, such as with software licenses that are never sold on a stand-alone basis, SSP is determined using information that may include market conditions and other observable inputs. SSP is typically

established as ranges, and the Company typically has more than one SSP range for individual products and services due to the stratification of those products and services by customer class, channel type, and purchase quantity, among other circumstances. The SSP is reassessed periodically or when facts and circumstances change.

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 were as follows:


	Years Ended December 31,
	2021		2020		2019
	(in thousands)
SaaS subscription and support and maintenance	$	313,950	$	223,655	$	158,493
On‑premise subscription	30,293		25,224		16,625
Subscription revenue	344,243		248,879		175,118
Professional services	16,122		14,519		19,014
Perpetual licenses	6,023		5,734		9,833
Non‑subscription revenue	22,145		20,253		28,847
Total revenue	$	366,388	$	269,132	$	203,965

Contract Balances

The timing of revenue recognition may not align with the right to invoice the customer. The Company records accounts receivable when it has the unconditional right to issue an invoice and receive payment regardless of whether revenue has been recognized. For multiyear agreements, the Company will either invoice the customer in full at the inception of the contract or annually at the beginning of each annual period. If revenue has not yet been recognized, then a contract liability (deferred revenue) is also recorded. Deferred revenue classified as current in the consolidated balance sheets is expected to be recognized as revenue within one year. Non-current deferred revenue will generally be fully recognized within five years. If revenue is recognized in advance of the right to invoice, a contract asset is recorded. The balances of contract assets, which are included in other current assets on the consolidated balance sheets, were $1.8 million, $0.9 million, and $0.5 million as of December 31, 2021, 2020, and 2019, respectively. As of December 31, 2021, the allowance for expected credit losses associated with contract assets was not material.

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:


	Years Ended December 31,
	2021		2020		2019
	(in thousands)
Balance, beginning of the period	$	205,509	$	140,449	$	100,025
Acquisitions	5,200		—		—
Revenue earned	(160,002)		(127,915)		(85,471)
Deferral of revenue	231,421		192,975		125,895
Balance, end of the period	$	282,128	$	205,509	$	140,449

There were no significant changes to our contract assets and liabilities during the years ended December 31, 2021, 2020, and 2019 outside of our sales activities.

In instances where the timing of revenue recognition differs from the timing of the right to invoice, the Company has determined that a significant financing component generally does not exist. The primary purpose of the Company’s invoicing terms is to provide customers with simplified and predictable ways of purchasing the products and services and not to receive financing from or provide financing to the customer. Additionally, the Company has elected the practical expedient that permits

an entity not to recognize a significant financing component if the time between the transfer of a good or service and payment is one year or less.

Payment terms on invoiced amounts are typically 30 days. The Company does not offer rights of return for its products and services in the normal course of business and contracts generally do not include customer acceptance clauses.

Remaining Performance Obligations

Revenue allocated to remaining performance obligations represents contracted revenue that has not yet been recognized, which includes deferred revenue and noncancellable amounts to be invoiced. As of December 31, 2021, the Company had $333.5 million of remaining performance obligations, with 82% expected to be recognized as revenue over the succeeding 12 months, and the remainder generally 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.

The Company has elected to apply the practical expedient to expense contract costs as incurred when the expected amortization period is one year or less. The judgments made in determining the amount of costs incurred include the portion of the commissions that are expensed in the current period versus the portion of the commissions that are recognized over the expected period of benefit, which often extends beyond the contract term as we do not pay a commission upon renewal of the service contracts. Contract costs are allocated to each performance obligation within the contract and amortized on a straight-line basis over the expected benefit period of the related performance obligations. Contract costs are amortized as a component of sales and marketing expenses in our consolidated statement of operations. We have determined that the expected period of benefit is generally five years based on evaluation of a number of factors, including customer attrition rates, weighted-average useful lives of our customer relationship and developed technology intangible assets, and market factors, including overall competitive environment and technology life of competitors. Total amortization of contract costs for the years ended December 31, 2021, 2020, and 2019 was $12.5 million, $8.0 million, and $5.2 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 years ended December 31, 2021, 2020, or 2019.

Concentrations of Risk

For the year ended December 31, 2021, the Company had one distributor that accounted for more than 10% of total net revenues. Total receivables related to this distributor were $17.4 million as of December 31, 2021. For the year ended December 31, 2020, the Company had two distributors that each accounted for more than 10% of total net revenues. Total receivables related to these distributors were $19.8 million as of December 31, 2020. For the year ended December 31, 2019, the Company had one distributor that accounted for more than 10% of total net revenues. Total receivables related to this distributor were $6.0 million as of December 31, 2019. As of December 31, 2021 and 2020, one distributor accounted for 22% and 23%, respectively, of total receivables.

No single end customer accounted for more than 10% of total revenue for the years ended December 31, 2021, 2020, and 2019. No single end customer accounted for more than 10% of total receivables as of December 31, 2021 and 2020.

The Company hosts our cloud service from third-party data center facilities operated by AWS from several global locations. The Company has internal procedures to restore services in the event of disaster at any of its current data center facilities. Even with these procedures for disaster recovery in place, the Company’s subscription services could be significantly interrupted during the time period following a disaster at one of its sites and the subsequent restoration of services at another site.

Research and development costs and software development costs

All research and development costs are expensed as incurred in accordance with ASC Topic 730, Research and Development. Software development costs required to be capitalized under ASC Topic 985-20, Costs of Software to be Sold,

Leased or Marketed, and under ASC Topic 350-40, Internal-Use Software, were not material for the years ended December 31, 2021, 2020, and 2019.

Advertising costs

Advertising costs are expensed as incurred and presented within sales and marketing in the consolidated statements of operations. Advertising costs were $17.0 million, $13.4 million, and $8.7 million for the years ended December 31, 2021, 2020, and 2019, respectively.

Interest expense, net

For the year ended December 31, 2021, interest expense from debt financing was $2.5 million. For the year ended December 31, 2020, interest expense from debt financing of $10.8 million is partially offset by interest income from cash investments of $0.1 million. For the year ended December 31, 2019, interest expense from debt financing of $21.9 million is partially offset by interest income from cash investments of $0.5 million.

Recently issued accounting pronouncements not yet adopted

From time to time, new accounting pronouncements are issued by the 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.

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

Business Combinations — Accounting for Contract Assets and Contract Liabilities from Contracts with Customers

In October 2021, the FASB issued ASU No. 2021-08, Business Combinations (Topic 805), Accounting for Contract Assets and Contract Liabilities from Contracts with Customers (“ASU 2021-08”), which requires contract assets and contract liabilities acquired in a business combination to be recognized and measured by the acquirer on the acquisition date in accordance with ASC 606. Generally, this new guidance will result in the acquirer recognizing contract assets and contract liabilities at the same amounts recorded by the acquiree. Historically, such amounts were recognized by the acquirer at fair value in accordance with acquisition accounting. The new guidance should be applied prospectively to acquisitions occurring on or after the effective date. The standard is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. Early adoption is permitted, including in interim periods, for any financial statements that have not been issued. The Company early adopted the new standard on January 1, 2022. The adoption of the standard did not have any impact on the Company’s consolidated financial statements. We will apply the new guidance to future acquisitions.

Financial Instruments — Credit Losses

In June 2016, the FASB issued 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 2016-02. As of December 31, 2021, we are a large accelerated filer and, therefore, we no longer qualify as an emerging growth company and can no longer take advantage of the extended timeline to comply with new or revised accounting standards applicable to public companies beginning with this Annual Report on Form 10-K. As such, the Company adopted ASU 2016-13 in the fourth quarter of 2021 with an effective date of January 1, 2021. The adoption of the standard did not have a material impact on the Company’s consolidated financial statements.

Leases

In February 2016, the FASB issued ASU 2016-02 to increase transparency and comparability among organizations related to their leasing arrangements. The update requires lessees to recognize most leases on their balance sheets, with the exception of short-term leases if a policy election is made, while recognizing lease expense on their income statements in a manner similar to current GAAP. The guidance also requires entities to disclose key quantitative and qualitative information about its leasing arrangements. The Company 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 842 while prior period amounts continue to be reported and disclosed in accordance with the Company’s historical accounting treatment under 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 ROU asset and lease liability using the remaining portion of the lease term at adoption on January 1, 2021.

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 above and Note 7 for more information.

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

In August 2020, the FASB issued 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

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

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.

Assets and liabilities measured at fair value on a recurring basis

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.

In addition, the contingent consideration associated with the Digita and cmdReporter acquisitions are measured and recorded at fair value on a recurring basis. The estimated fair value of the contingent payments associated with the Digita acquisition is determined using a Monte Carlo simulation model, which uses Level 3 inputs, including assumptions about the probability of growth of subscription services and the related pricing of the services offered. Significant increases (decreases) in the probability of growth of subscription services as well as the related pricing of the services offered would have resulted in a higher (lower) fair value measurement. The estimated fair value of the contingent payments associated with the cmdReporter acquisition was determined using projected contract wins, which used Level 3 inputs, including assumptions about the probability of closing contracts based on their current stage in the sales process. See Note 5 for more information.

The fair value of these financial instruments were as follows:


	December 31, 2021
	Level 1		Level 2		Level 3		Total
	(in thousands)
Cash equivalents:
Money market funds	$	146,037	$	—	$	—	$	146,037
Total cash equivalents	$	146,037	$	—	$	—	$	146,037

Contingent consideration:
Accrued liabilities	$	—	$	—	$	4,588	$	4,588
Other liabilities	—		—		5,512		5,512
Total contingent consideration	$	—	$	—	$	10,100	$	10,100


	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

Contingent consideration:
Other liabilities	$	—	$	—	$	8,200	$	8,200
Total contingent consideration	$	—	$	—	$	8,200	$	8,200

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.

The following table provides a summary of the changes in contingent consideration, which is classified as Level 3:


	Years Ended December 31,
	2021		2020		2019
	(in thousands)
Balance, beginning of period	$	8,200	$	9,200	$	9,000
Additions	359		—		—
Total (gains) losses included in:
Net loss	6,037		(1,000)		200
Payments	(4,206)		—		—
Other (1)	(290)		—		—
Balance, end of period	$	10,100	$	8,200	$	9,200

(1) See Note 5 for more information on the reduction to contingent consideration related to the cmdReporter acquisition.

The change in the fair value of the contingent consideration is included in general and administrative expenses in the consolidated statements of operations. The adjustment for the year ended December 31, 2021 primarily reflected updated assumptions about the probability of growth of subscription services.

Fair value measurements of other financial instruments

The following table presents the net carrying value and estimated fair value of the 2026 Notes, which are not recorded at fair value in the consolidated balance sheet:


	December 31, 2021
	Net Carrying Value		Estimated Fair Value
	(in thousands)
2026 Notes	$	362,031	$	398,044

As of December 31, 2021, the difference between the net carrying value of the 2026 Notes and the principal amount of $373.8 million represents the unamortized debt issuance costs of $11.7 million. See Note 9 for more information. The estimated fair value of the 2026 Notes, which is classified as Level 2, was determined based on quoted bid prices of the 2026 Notes in an over-the-counter market on the last trading day of the reporting period.

- 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

Equipment and leasehold improvements

12 Months Ended

Dec. 31, 2021

Property, Plant and Equipment [Abstract]

Equipment and leasehold improvements

Equipment and leasehold improvements were as follows:


	December 31,
	2021		2020
	(in thousands)
Computers	$	14,629	$	10,529
Software	1,182		666
Furniture/fixtures	4,394		3,417
Leasehold improvements	11,123		10,669
Capital in progress	3,003		698
Equipment and leasehold improvements, gross	34,331		25,979
Less: accumulated depreciation	(16,286)		(10,849)
Equipment and leasehold improvements, net	$	18,045	$	15,130

Depreciation expense was $5.8 million, $5.2 million, and $4.4 million for the years ended December 31, 2021, 2020, and 2019, respectively.

Acquisitions

12 Months Ended

Dec. 31, 2021

Business Combination and Asset Acquisition [Abstract]

Acquisitions

Wandera

On July 1, 2021, the Company completed its acquisition of Wandera pursuant to the terms of the Agreement and Plan of Merger, dated as of May 5, 2021 (the “Merger Agreement”). Wandera is a leader in zero trust cloud security and access for mobile devices. As an Apple-first provider of unified cloud security, Wandera expands the Company’s security offering for the enterprise. Building on the Company’s existing capabilities, Wandera adds ZTNA, mobile threat defense, and data policy features to ensure mobile workers can simply and safely access the network resources they need while complying with organizational policies and reducing mobile charges. This acquisition uniquely positions the Company to help IT and security teams confidently protect the devices, data, and applications used by a mobile workforce, while extending the intended Apple experience through the Company’s robust and scalable Apple Enterprise Management platform.

Under the terms of the Merger Agreement, the Company acquired 100% of the voting equity interest in Wandera and paid total cash consideration of $409.3 million. The total consideration consisted of an initial payment of $359.3 million at close and deferred consideration of $50.0 million that was paid in $25.0 million increments on October 1, 2021 and December 15, 2021. The initial payment of $359.3 million included $0.7 million held back as partial security for post-closing true-up adjustments as well as indemnification claims made within one year of the acquisition date. The amount held back was released in the fourth quarter of 2021. The acquisition was initially financed with cash on hand and borrowings under the 2021 Term Loan Facility (as defined in Note 9 below).

Acquisition-related costs were expensed as incurred and were as follows:


	Year Ended December 31, 2021
	(in thousands)
Cost of revenue:
Subscription	$	88
Sales and marketing	180
Research and development	1,088
General and administrative	4,896
	$	6,252

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”). Accordingly, the purchase price was allocated to the assets acquired and liabilities assumed based on their estimated fair values as of the date of acquisition. In accordance with GAAP, fair value is defined as 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. Any residual purchase price is recorded as goodwill. The allocation of the purchase price required management to make significant estimates in determining the fair value of assets acquired and liabilities assumed, especially with respect to intangible assets. These estimates included, but were not limited to:

•future expected cash flows from subscription contracts and acquired developed technologies;

•historical and expected customer attrition rates and anticipated growth in revenue;

•royalty rates applied to acquired developed technology platforms;

•obsolescence curves and other useful life assumptions, such as the period of time and intended use of acquired intangible assets in the Company’s product offerings;

•discount rates; and

•uncertain tax positions and tax-related valuation allowances.

The final purchase accounting allocations for the Wandera acquisition will be determined within one year from the acquisition date and depend on a number of factors, including finalization of income tax effects of the opening balance sheet. The actual fair values of Wandera’s tax assets and liabilities and resulting goodwill may differ materially from the adjustments

set forth in this Form 10-K. The following table summarizes the preliminary allocation of the purchase price to the estimated fair values of the assets acquired and liabilities assumed and reflects measurement period adjustments through December 31, 2021 (in thousands):


Assets acquired:
Cash and cash equivalents	$	9,605
Trade accounts receivable, net	3,882
Prepaid expenses	900
Other current assets	426
Equipment and leasehold improvements, net	58
Intangible assets acquired	102,050
Operating lease assets	1,474
Deferred tax asset	918
Liabilities assumed:
Accounts payable	(788)
Accrued liabilities	(3,464)
Income taxes payable	(94)
Deferred revenue	(5,200)
Operating lease liabilities	(1,474)
Deferred tax liability	(9,374)
Goodwill	310,356
Total purchase consideration	$	409,275

During the fourth quarter of 2021, the Company recorded measurement period adjustments including an increase to other current assets of $0.4 million and an increase to deferred tax assets of $0.1 million, resulting in a decrease to goodwill of $0.5 million. The adjustments relate to new information obtained about facts and circumstances that existed as of the acquisition date. The increase to other current assets relates to UK refundable research and development tax credits.

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 expected synergies in sales opportunities across complementary products, customers and geographies, and cross-selling opportunities. The goodwill is not deductible for income tax purposes.

The estimated useful lives and fair values of the identifiable intangible assets acquired were as follows:


	Useful Life	Gross Value
		(in thousands)
Developed technology	6.5 years	$	60,500
Customer relationships	11.0 years	35,600
Order backlog	2.5 years	3,800
Non-competes	2.5 years	1,750
Trademarks	3.0 years	400
Total identifiable intangible assets		$	102,050

The weighted-average useful life of the intangible assets acquired is 7.8 years.

Developed technology represents the estimated fair value of the features underlying the Wandera products as well as the platform supporting Wandera customers. Customer relationships represent the estimated fair value of the underlying relationships with Wandera customers. Order backlog represents the estimated fair value of existing order backlog with Wandera customers. Non-competes represent the estimated fair value of non-compete agreements acquired from Wandera. Trademarks represent the estimated fair value of the Wandera brand.

Wandera contributed revenue and net loss of $10.6 million and $11.3 million, respectively, from the acquisition date through December 31, 2021, excluding the effects of the acquisition and integration costs.

The following unaudited pro forma information presents the combined results of Jamf and Wandera assuming the acquisition was completed on January 1, 2020. As required by ASC 805, these unaudited pro forma results are presented for informational purposes only and are not necessarily indicative of what the actual results of operations of the combined companies would have been had the acquisition occurred at the beginning of the period presented, nor are they indicative of future results of operations. The pro forma results below have been adjusted for the amortization of acquired intangibles, reduction of deferred revenue, deferred commissions, stock-based compensation expense, and additional interest expense. The pro forma results for the year ended December 31, 2021 have also been adjusted to exclude the impact of $6.3 million of acquisition-related costs (pre-tax) incurred by the Company that are directly attributable to the transaction. The adjustments do not reflect the effect of costs or synergies that would have been expected to result from the integration of the acquisition.

Pro forma consolidated revenues and net loss for the years ended December 31, 2021 and 2020, calculated as if Wandera had been acquired as of January 1, 2020, were as follows:


	Years Ended December 31,
	2021		2020
	(in thousands)
Revenues	$	377,996	$	288,666
Net loss	(83,383)		(44,671)

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 further extends 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 805. The final aggregate purchase price was approximately $3.4 million. The acquisition was funded by the Company’s cash on hand and included 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. As of December 31, 2021, the fair value of the contingent consideration was nil as $0.3 million was earned by the acquired business and the unearned portion of $0.1 million was written off during the second quarter of 2021. The Company did not make a cash payment for the earned portion of the liability as the sellers received the cash directly from the customers. As such, the reduction of the liability was offset by a reduction in accounts receivable. See Note 3 for more information on the fair value of the contingent consideration.

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 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 acquired developed technology is 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 is evaluated at least annually for impairment. For more information on intangible assets, see Note 6.

Acquisition-related expenses were expensed as incurred and totaled $0.1 million for the year ended December 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

Pro forma results of operations for this acquisition were not presented as the effects were not material to our financial results.

Mondada

On October 15, 2020, the Company purchased all of the outstanding membership interests of Mondada. Mondada’s Kinobi patch management solutions integrate with Jamf Pro, allowing organizations to extend Jamf Pro’s built-in patch management functionality to include all Mac applications within an environment. The Kinobi solutions aim to help organizations stay secure while taking away the headache of manually monitoring patch updates. The Company accounted for the acquisition by applying the acquisition method of accounting for business combinations in accordance with ASC 805. The total purchase price was $2.7 million. The acquisition was funded with cash on hand. Acquisition-related expenses were expensed as incurred and totaled $0.2 million. These expenses were recognized as acquisition costs in general and administrative expenses in the consolidated statement of operations during the year ended December 31, 2020.

Separately identifiable intangible assets acquired consist of developed technology and customer relationships. The fair value of the acquired developed technology was estimated to be $1.0 million using a cost approach, which estimates the cost to recreate the technology. The estimated useful life of the acquired developed technology is 5 years. The fair value of the acquired customer relationships was estimated to be $0.1 million using an excess earnings methodology. The estimated useful life of the acquired customer relationships is 6 years. For more details on the Company’s intangible assets, see Note 6.

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


Assets acquired:
Cash	$	17
Other current assets	71
Long‑term assets	12
Deferred tax asset	5
Liabilities assumed:
Accounts payable and accrued liabilities	(25)
Deferred revenue	(123)
Intangible assets acquired	1,111
Goodwill	1,662
Total purchase consideration	$	2,730

The goodwill recognized in this acquisition is primarily attributable to the workforce acquired and the expected synergies of integrating Mondada’s Kinobi patch management solutions with Jamf Pro. The goodwill is not deductible for income tax purposes.

Pro forma results of operations for this acquisition were not presented as the effects were not material to our financial results.

Digita Security LLC

On July 26, 2019, the Company purchased all of the outstanding membership interests of Digita. With this acquisition, Digita’s acquired technology complemented the Company’s existing Apple management, authentication, and account management solutions with a security offering to provide a more robust suite of capabilities and service offerings in the Apple enterprise market. The Company accounted for the acquisition by applying the acquisition method of accounting for business combinations in accordance with ASC 805. The acquisition aggregate purchase consideration totaled $14.4 million, which included contingent purchase consideration with an estimated fair value of $9.0 million and the remainder provided for with cash. Acquisition-related expenses were expensed as incurred and totaled $0.5 million. These expenses were recognized as acquisition costs in general and administrative expenses in the consolidated statement of operations during the year ended December 31, 2019. Goodwill in the amount of $1.7 million is deductible for income tax purposes.

The maximum contingent consideration is $15.0 million if the acquired business achieves certain revenue milestones by December 31, 2022. In the second quarter of 2021, the acquired business achieved the minimum revenue milestone, which resulted in the Company making a cash payment of $4.2 million to the former owners of the acquired business. An additional cash payment of $4.6 million was made in January 2022. If the acquired business continues to achieve the revenue milestones, an additional cash payment will be made within 30 days of December 31, 2022. See Note 3 for more information on the fair value of the contingent consideration.

In addition, the terms of the purchase agreement provided for additional future payments to the Digita shareholders in the amount of up to $5.0 million if certain key employees continued their employment with the Company through December 31, 2020. The Company paid and recognized compensation expense of $5.0 million in general and administrative expense in the consolidated statement of operations during the year ended December 31, 2020.

The fair value of the acquired developed technology was estimated by discounting future net cash flows to their present value at market-based rates of return (income approach). The estimated useful life of the acquired developed technology is estimated to be 5 years. For more details on the Company’s intangible assets, see Note 6.

Pro forma results of operations for this acquisition were not presented as the effects were not material to our financial results.

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


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

ZuluDesk B.V.

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

Acquisition-related expenses were expensed as incurred and totaled $0.9 million for the year ended December 31, 2019. These expenses were recognized as acquisition costs in general and administrative expenses in the consolidated statement

of operations. ZuluDesk contributed revenue and net loss of $4.5 million and $0.3 million, respectively, from February 1, 2019 through December 31, 2019, excluding the effects of the acquisition and integration costs. The Company used borrowings under the 2017 Term Loan Facility to complete the acquisition.

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


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

The estimated useful lives and fair values of the identifiable intangible assets acquired were as follows:


	Useful Life	Gross Value
		(in thousands)
Customer relationships	8.0 years	$	7,900
Developed technology	5.0 years	4,300
Non-competes	2.0 years	90
Trademarks	0.9 years	20
Total identifiable intangible assets		$	12,310

The weighted-average useful life of the intangible assets acquired is 7 years.

The fair value of the separately identifiable intangible assets acquired was estimated by applying an income approach. Under the income approach, an intangible asset’s fair value is equal to the present value of future economic benefits to be derived from ownership of the asset. Indications of value are developed by discounting future net cash flows to their present value at market-based rates of return. For more details on the intangible assets, see Note 6.

Pro forma results are not presented for 2019 as the acquisition occurred in February and would not be materially different from the actual results of operations for the year ended December 31, 2019.

Goodwill and other intangible assets

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and other intangible assets

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


	Years Ended December 31,
	2021		2020		2019
	(in thousands)
Goodwill, beginning of period	$	541,480	$	539,818	$	501,145
Goodwill acquired	311,203		1,662		38,673
Measurement period adjustments (1)	(477)		—		—
Foreign currency translation adjustment	(6,472)		—		—
Goodwill, end of period	$	845,734	$	541,480	$	539,818

(1) Represents the measurement period adjustments related to the Wandera acquisition. See Note 5 for more information.

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


	December 31, 2021
	Useful Life	Gross Value		Accumulated Amortization		Net Carrying Value		Weighted‑ Average Remaining Useful Life
	(in thousands)
Trademarks	3 - 8 years	$	34,690	$	17,788	$	16,902	3.8 years
Customer relationships	2 ‑ 12 years	249,495		75,600		173,895		8.3 years
Developed technology	5 - 6.5 years	116,193		47,142		69,051		5.1 years
Non‑competes	2 - 2.5 years	1,797		439		1,358		2.0 years
Order backlog	2.5 years	3,745		758		2,987		2.0 years
Total intangible assets subject to amortization		405,920		141,727		264,193
IPR&D	Indefinite	400		—		400
Total intangible assets		$	406,320	$	141,727	$	264,593


	December 31, 2020
	Useful Life	Gross Value		Accumulated Amortization		Net Carrying Value		Weighted‑ Average Remaining 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
Total intangible assets		$	303,401	$	100,523	$	202,878

The gross value and net carrying value in the table above include a cumulative foreign currency translation adjustment of $(2.1) million as of December 31, 2021. The cumulative foreign currency translation adjustment for accumulated amortization was not material as of December 31, 2021.

Amortization expense was $41.3 million, $33.3 million, and $32.7 million for the years ended December 31, 2021, 2020, and 2019, respectively.

Future estimated amortization expense as of December 31, 2021 is as follows (in thousands):


Years ending December 31:
2022	$	47,303
2023	39,517
2024	35,984
2025	34,859
2026	30,538
Thereafter	75,992
Total amortization expense	$	264,193

The amounts in the table above are estimates. The actual amount of amortization expense may differ from the estimated amount due to additional intangible assets acquired, changes in foreign currency exchange rates, impairment of intangible assets, accelerated amortization of intangible assets, and other events.

There were no impairments to goodwill or intangible assets recorded for the years ended December 31, 2021, 2020, and 2019.

Leases

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

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 December 31, 2021.

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

Leases

Balance Sheet Classification

December 31, 2021

(in thousands)

Assets

Operating lease assets

Other assets

21,600

Liabilities

Operating lease liabilities - current

Accrued liabilities

5,251

Operating lease liabilities - non-current

Other liabilities

20,086

Total operating lease liabilities

25,337

The weighted-average remaining term of the Company’s operating leases was 5.9 years as of December 31, 2021. The weighted-average discount rate used to measure the present value of the operating lease liabilities was 3.5% as of December 31, 2021.

The components of lease expense were as follows:


	Year Ended December 31, 2021

Operating lease cost	$	5,935
Short-term lease cost	272
Variable lease cost	1,943
Total lease expense	$	8,150

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 $1.1 million for the year ended December 31, 2021.

Total lease expense, including the Company’s share of the lessors’ operating expenses, was $5.0 million and $4.3 million for the years ended December 31, 2020 and 2019, respectively. Lease expense with related parties, including the Company’s share of the lessors’ operating expenses, was $1.1 million and $1.3 million for the years ended December 31, 2020 and 2019, respectively.

For the year ended December 31, 2021, operating cash flows included $5.9 million of cash paid for operating lease liabilities.

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


	Operating Leases
	(in thousands)
Years ending December 31:
2022	$	6,036
2023	5,645
2024	4,584
2025	2,519
2026	2,507
Thereafter	6,975
Total lease payments	28,266
Less: imputed interest	2,929
Total present value of lease liabilities	$	25,337

Approximate future minimum lease payments for non-cancelable operating leases with unrelated and related parties as of December 31, 2020 under ASC 840 were as follows:


	Unrelated		Related		Total
	(in thousands)
Years ending December 31:
2021	$	4,758	$	1,079	$	5,837
2022	4,294		1,090		5,384
2023	4,146		1,101		5,247
2024	3,705		832		4,537
2025	2,551		—		2,551
Thereafter	9,482		—		9,482
	$	28,936	$	4,102	$	33,038

Leases

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

Leases

Balance Sheet Classification

December 31, 2021

(in thousands)

Assets

Operating lease assets

Other assets

21,600

Liabilities

Operating lease liabilities - current

Accrued liabilities

5,251

Operating lease liabilities - non-current

Other liabilities

20,086

Total operating lease liabilities

25,337

The components of lease expense were as follows:


	Year Ended December 31, 2021

Operating lease cost	$	5,935
Short-term lease cost	272
Variable lease cost	1,943
Total lease expense	$	8,150

For the year ended December 31, 2021, operating cash flows included $5.9 million of cash paid for operating lease liabilities.

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


	Operating Leases
	(in thousands)
Years ending December 31:
2022	$	6,036
2023	5,645
2024	4,584
2025	2,519
2026	2,507
Thereafter	6,975
Total lease payments	28,266
Less: imputed interest	2,929
Total present value of lease liabilities	$	25,337

Approximate future minimum lease payments for non-cancelable operating leases with unrelated and related parties as of December 31, 2020 under ASC 840 were as follows:


	Unrelated		Related		Total
	(in thousands)
Years ending December 31:
2021	$	4,758	$	1,079	$	5,837
2022	4,294		1,090		5,384
2023	4,146		1,101		5,247
2024	3,705		832		4,537
2025	2,551		—		2,551
Thereafter	9,482		—		9,482
	$	28,936	$	4,102	$	33,038

Commitments and contingencies

12 Months Ended

Dec. 31, 2021

Commitments and Contingencies Disclosure [Abstract]

Commitments and contingencies

Hosting Services and Other Support Software Agreements

The Company has various contractual agreements for hosting services and other support software. Certain of these agreements are with Vista affiliates and, therefore, are considered related party transactions. See Note 15 for more information. The below table reflects the minimum payments under these agreements with unrelated and related parties as of December 31, 2021:


	Unrelated		Related		Total
	(in thousands)
Years ending December 31:
2022	$	19,165	$	693	$	19,858
2023	4,100		295		4,395
2024	104		302		406
2025	—		308		308
2026	—		—		—
Thereafter	—		—		—
	$	23,369	$	1,598	$	24,967

Leases

See Note 7 for information on the Company’s future commitments related to its lease arrangements.

Contingencies

In 2021, the Company was engaged in discussions with an entity regarding the entity’s patented technology and allegations regarding the Company’s infringement of that technology. During the fourth quarter of 2021, the Company settled this matter and paid the entity $5.0 million. The Company recognized the expense within general and administrative expenses during the year ended December 31, 2021, of which $4.2 million was accrued for in the second quarter of 2021.

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 as of December 31, 2021 and 2020.

Debt

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Debt

Convertible Senior Notes

On September 17, 2021, the Company issued $373.8 million aggregate principal amount of 0.125% 2026 Notes in a private offering. The 2026 Notes were issued pursuant to the 2026 Notes Indenture, dated September 17, 2021, among the Company, JAMF Software, LLC, as subsidiary guarantor, and U.S. Bank National Association, as trustee. The 2026 Notes are general senior, unsecured obligations of the Company and mature on September 1, 2026, unless earlier converted, redeemed, or repurchased. The 2026 Notes bear interest at a rate of 0.125% per year, payable semiannually in arrears on March 1st and September 1st of each year, beginning on March 1, 2022. The Company recorded the principal amount of the 2026 Notes, net of issuance costs, as a liability in the consolidated balance sheet in accordance with ASU 2020-06, which the Company early adopted on January 1, 2021.

The Company’s net proceeds from the offering were approximately $361.4 million after deducting the initial purchasers’ discounts and commissions and the offering expenses paid by the Company. The Company used (i) approximately $250.0 million of the net proceeds to repay the Company’s 2021 Term Loan Facility (as defined and described below) and to pay any associated prepayment penalties and accrued and unpaid interest to the date of repayment and (ii) approximately $36.0 million of the net proceeds to fund the cost of entering into the Capped Calls (as defined and described below), and will use the remainder of the net proceeds for general corporate purposes, which may include working capital, capital expenditures, and potential acquisitions and strategic transactions.

The 2026 Notes are convertible at the option of the holders at any time prior to the close of business on the business day immediately preceding March 1, 2026, only under the following circumstances: (1) during any calendar quarter commencing after the calendar quarter ending on December 31, 2021 (and only during such calendar quarter), if the last reported sale price of the Company’s common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each applicable trading day; (2) during the five business day period after any ten consecutive trading day period (the “measurement period”) in which the trading price (as defined in the 2026 Notes Indenture) per $1,000 principal amount of the 2026 Notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price of the Company’s common stock and the conversion rate for the 2026 Notes on each such trading day; (3) if the Company calls such 2026 Notes for redemption, at any time prior to the close of business on the scheduled trading day immediately preceding the redemption date, but only with respect to the 2026 Notes called (or deemed called) for redemption; and (4) upon the occurrence of specified corporate events as set forth in the 2026 Notes Indenture. On or after March 1, 2026 until the close of business on the second scheduled trading day immediately preceding the maturity date (September 1, 2026), holders of the 2026 Notes may convert all or any portion of their 2026 Notes at any time, regardless of the foregoing conditions. Upon conversion, the Company may satisfy its conversion obligation by paying or delivering, as the case may be, cash, shares of the Company’s common stock or a combination of cash and shares of the Company’s common stock, at the Company’s election, in the manner and subject to the terms and conditions provided in the 2026 Notes Indenture. As of December 31, 2021, the conditions allowing holders of the 2026 Notes to convert were not met.

The initial conversion rate for the 2026 Notes is 20.0024 shares of the Company’s common stock per $1,000 principal amount of 2026 Notes, which is equivalent to an initial conversion price of approximately $49.99 per share of common stock. The initial conversion price of the 2026 Notes represents a premium of approximately 40.0% to the last reported sale price of the Company’s common stock on the NASDAQ Global Select Market on September 14, 2021. The conversion rate for the 2026 Notes is subject to adjustment under certain circumstances in accordance with the terms of the 2026 Notes Indenture. In

addition, following certain corporate events that occur prior to the maturity date of the 2026 Notes or if the Company delivers a notice of redemption in respect of the 2026 Notes, the Company will, under certain circumstances, increase the conversion rate of the 2026 Notes for a holder who elects to convert its 2026 Notes (or any portion thereof) in connection with such a corporate event or convert its 2026 Notes called (or deemed called) for redemption during the related redemption period (as defined in the 2026 Notes Indenture), as the case may be.

The Company may not redeem the 2026 Notes prior to September 6, 2024. The Company may redeem for cash all or any portion of the 2026 Notes, at its option, on or after September 6, 2024, if the last reported sale price of the common stock has been at least 130% of the conversion price for the 2026 Notes then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which the Company provides notice of redemption at a redemption price equal to 100% of the principal amount of the 2026 Notes to be redeemed, plus accrued and unpaid interest, to, but excluding, the redemption date. If the Company redeems less than all the outstanding 2026 Notes, at least $50.0 million aggregate principal amount of 2026 Notes must be outstanding and not subject to redemption as of the date of the relevant notice of redemption. No sinking fund is provided for the 2026 Notes.

If the Company undergoes a fundamental change (as defined in the 2026 Notes Indenture), holders may require, subject to certain conditions and exceptions, the Company to repurchase for cash all or any portion of their 2026 Notes at a fundamental change repurchase price equal to 100% of the principal amount of the 2026 Notes to be repurchased, plus accrued and unpaid interest, to, but excluding, the fundamental change repurchase date.

The 2026 Notes Indenture includes customary covenants and sets forth certain events of default after which the 2026 Notes may be declared immediately due and payable and sets forth certain types of bankruptcy or insolvency events of default involving the Company or its significant subsidiaries after which the 2026 Notes become automatically due and payable.

The following table sets forth the interest expense related to the 2026 Notes for the year ended December 31, 2021 (in thousands):


Contractual interest expense	$	135
Amortization of issuance costs	711

In the third quarter of 2021, the Company recorded debt issuance costs of $12.4 million related to the issuance of the 2026 Notes as a reduction to the liability in the consolidated balance sheet. Debt issuance costs are amortized to interest expense over the term of the 2026 Notes using the effective interest rate method. The effective interest rate on the 2026 Notes was 0.81% for the year ended December 31, 2021.

Capped Calls

On September 14, 2021, concurrently with the pricing of the 2026 Notes, and on September 17, 2021, concurrently with the initial purchasers’ exercise of their option to purchase additional 2026 Notes, the Company also entered into privately negotiated capped call transactions (the “Capped Calls”) with third-party banks. The Capped Calls each have an initial strike price of approximately $49.99 per share, subject to certain adjustments, which corresponds to the initial conversion price of the 2026 Notes. The Capped Calls have initial cap prices of $71.42 per share, subject to certain adjustments. The Capped Calls cover, subject to anti-dilution adjustments, approximately 7.5 million shares of the Company’s common stock. The Capped Calls are generally intended to reduce or offset the potential dilution to the common stock upon any conversion of the 2026 Notes with such reduction or offset, as the case may be, subject to a cap based on the cap price. The Company used approximately $36.0 million of the net proceeds from the issuance and sale of the 2026 Notes to purchase the Capped Calls. The Company recorded the Capped Calls as a reduction to additional paid-in capital in the consolidated balance sheet. The Capped Calls are subject to either adjustment or termination upon the occurrence of specified extraordinary events affecting the Company, including a merger event, a tender offer, and a nationalization, insolvency or delisting involving the Company. In addition, the Capped Calls are subject to certain specified additional disruption events that may give rise to terminations of the Capped Calls, including changes in law, failures to deliver, and hedging disruptions.

Credit Agreements

On July 27, 2020, the Company entered into a secured credit agreement (the “2020 Credit Agreement”) for an initial revolving credit facility of $150.0 million (the “2020 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 2020 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 2020 Credit Agreement is July 27, 2025. The 2020 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 December 31, 2021 and 2020. As of both December 31, 2021 and 2020, we had $1.0 million of letters of credit outstanding under our 2020 Revolving Credit Facility.

In connection with the closing of the Wandera acquisition on July 1, 2021, the Company entered into the Incremental Facility Amendment No. 1 (the “Credit Agreement Amendment”), which amended the Company’s existing 2020 Credit Agreement. The Credit Agreement Amendment provided for a new 364-day term loan facility (the “2021 Term Loan Facility”) in an aggregate principal amount of $250.0 million on substantially the same terms and conditions as the Company’s existing 2020 Revolving Credit Facility. The Company repaid the principal amount of the 2021 Term Loan Facility on September 23, 2021 with proceeds from the issuance and sale of the 2026 Notes. The Company accounted for this transaction as a debt extinguishment and recorded debt extinguishment costs of $0.4 million for the write-off of remaining debt issuance costs.

In the third quarter of 2020, the Company recorded debt issuance costs of $1.3 million related to the 2020 Credit Agreement. In the second quarter of 2021, the Company recorded debt issuance costs of $0.7 million related to the Credit Agreement Amendment. As of December 31, 2021 and 2020, debt issuance costs related to the 2020 Credit Agreement of $0.9 million and $1.1 million, respectively, are included in other assets in the consolidated balance sheets.

The interest rates applicable to revolving borrowings under the 2020 Credit Agreement are, at the Company’s option, either (i) a base rate, which is equal to the greater of (a) the Prime Rate, (b) the Federal Funds Effective Rate plus 0.50% and (c) the Adjusted LIBO Rate (subject to a floor) for a one month interest period (each term as defined in the 2020 Credit Agreement) plus 1.00%, or (ii) the Adjusted LIBO Rate (subject to a floor) equal to the LIBO Rate for the applicable interest period multiplied by the Statutory Reserve Rate, plus in the case of each of clauses (i) and (ii), the Applicable Rate. The Applicable Rate (i) for base rate loans range from 0.25% to 1.00% per annum and (ii) for LIBO Rate loans range from 1.25% to 2.00% per annum, in each case, based on the Senior Secured Net Leverage Ratio (as such term is defined in the 2020 Credit Agreement). Base rate borrowings may only be made in dollars. The Company pays a commitment fee during the term of the 2020 Credit Agreement ranging from 0.20% to 0.35% per annum of the average daily undrawn portion of the revolving commitments based on the Senior Secured Net Leverage Ratio. For the years ended December 31, 2021 and 2020, the Company accrued $0.3 million and $0.1 million, respectively, for the commitment fee.

On November 13, 2017, the Company entered into the 2017 Credit Agreement. The 2017 Credit Agreement provided for the 2017 Term Loan Facility of $175.0 million with a maturity date of November 13, 2022 and a revolving credit facility (the “2017 Revolving Credit Facility”) of $15.0 million with a maturity date of November 13, 2022. On January 30, 2019, the Company entered into a First Amended Credit Agreement, which increased the 2017 Term Loan Facility to $205.0 million. The First Amended Credit Agreement provided for additional funding for the ZuluDesk acquisition. On April 13, 2019, the Company entered into a Second Amended Credit Agreement, which adjusted the rate for both the 2017 Term Loans and 2017 Credit Facilities. Upon the closing of our IPO, the Company repaid the 2017 Credit Agreement. See Note 1 for more information.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-URI http://asc.fasb.org/topic&trid=2208564

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (h)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (g)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1E
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495348-112611

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (i)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

+ Details

Share-based compensation

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Share-based compensation

The Company’s equity incentive plans provide for granting various share-based awards to eligible employees, non-employee directors, and consultants of the Company. In addition, the Company offers an employee stock purchase plan to eligible employees.

The Company recognized stock-based compensation expense for all equity arrangements as follows:


	Years Ended December 31,
	2021		2020		2019
	(in thousands)
Cost of revenue:
Subscription	$	3,755	$	732	$	194
Services	594		139		—
Sales and marketing	10,938		1,748		460
Research and development	10,512		1,533		394
General and administrative	10,006		2,591		1,413
	$	35,805	$	6,743	$	2,461

The Company recognized a tax benefit related to stock-based compensation of $12.8 million, $3.8 million, and $0.5 million for the years ended December 31, 2021, 2020, and 2019, respectively.

Equity Incentive Plans

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 1st 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 31st of the preceding calendar year or (ii) a number of shares of our common stock as determined by our Board. 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 December 31, 2021, 12,058,729 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 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 December 31, 2021, 128,928 shares of common stock are reserved for additional grants under the 2017 Option Plan. All stock options previously 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 year ended December 31, 2021.

Return Target Options

The table below summarizes return target options activity for the years ended December 31, 2021, 2020, and 2019:


	Options	Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value (in thousands)
Outstanding, January 1, 2019	2,200,189	$	5.49	8.9	$	—
Granted	1,653,209	8.29			—
Exercised	—	—			—
Forfeitures	(165,734)	5.49			—
Outstanding, December 31, 2019	3,687,664	6.75		8.8	29,908
Granted	—	—			—
Exercised	—	—			—
Forfeitures	—	—			—
Outstanding, December 31, 2020	3,687,664	6.75		7.8	85,444
Granted	—	—			—
Exercised	—	—			—
Forfeitures	—	—			—
Outstanding, December 31, 2021	3,687,664	$	6.75	6.8	$	115,278
Options exercisable at December 31, 2021	—	$	—	—	$	—
Vested or expected to vest at December 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 on the last day of the period. No return target options vested during the years ended December 31, 2021, 2020, and 2019. There was approximately $33.0 million of unrecognized compensation expense related to these return target options as of December 31, 2021. See Note 2 for the Company’s policy on recognizing expense for return target options.

The Company used the following assumptions in the Modified Black-Scholes option pricing model to estimate the fair value of return target options modified during the year ended December 31, 2020 and granted during the year ended December 31, 2019:


	Years Ended December 31,
	2020	2019
Expected life of options	1.50 years	3 - 3.25 years
Expected volatility	55%	50% - 55%
Risk-free interest rates	0.16%	1.49% - 1.67%
Expected dividend yield	—%	—%
Weighted-average grant-date fair value	$8.95	$6.02

Service-Based Options

The table below summarizes the service-based option activity for the years ended December 31, 2021, 2020, and 2019:


	Options	Weighted‑ Average Exercise Price		Weighted‑ Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value (in thousands)
Outstanding, January 1, 2019	4,245,709	$	5.51	8.9	$	—
Granted	212,668	8.21			—
Exercised	(168,391)	5.49			256
Forfeitures	(216,700)	5.49			—
Outstanding, December 31, 2019	4,073,286	5.65		8.1	37,520
Granted	—	—			—
Exercised	(526,460)	5.67			13,899
Forfeitures	—	—			—
Outstanding, December 31, 2020	3,546,826	5.65		7.1	86,098
Granted	—	—			—
Exercised	(1,903,560)	5.62			54,716
Forfeitures	—	—			—
Outstanding, December 31, 2021	1,643,266	$	5.68	6.1	$	53,129
Options exercisable at December 31, 2021	1,434,887	$	5.49	5.9	$	46,658
Vested or expected to vest at December 31, 2021	1,643,266	$	5.68	6.1	$	53,129

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. Service-based options vest over four years with 25% vesting one year after grant and the remainder vesting ratably on a quarterly basis thereafter. The total fair value of service-based options vested during the years ended December 31, 2021, 2020, and 2019 was $2.6 million, $2.6 million, and $2.4 million, respectively. There was $1.0 million of unrecognized compensation expense related to service-based options that is expected to be recognized over a weighted-average period of 1.6 years as of December 31, 2021. The Company issues new shares when service-based options are exercised. All service-based options outstanding under the Company’s option plans have exercise prices equal to the fair value of the Company’s stock on the grant date. All awards expire after 10 years.

The Company used the following assumptions in the Black-Scholes option pricing model to estimate the fair value of service-based options granted during the year ended December 31, 2019:


			Year Ended December 31, 2019
Expected life of options			6.25 years
Expected volatility			45.1% - 45.3%
Risk-free interest rates			1.6% - 1.7%
Expected dividend yield			—%
Weighted-average grant-date fair value			$7.29

Restricted Stock Units

Restricted stock unit activity for the years ended December 31, 2021, 2020, and 2019 was as follows:


	Units	Weighted-Average Grant Date Fair Value (per share)
Outstanding, January 1, 2019	25,520	$	5.87
Granted	36,520	12.60
Vested	(25,520)	5.87
Forfeited	—	—
Outstanding, December 31, 2019	36,520	12.60
Granted	1,317,719	26.33
Vested	(36,520)	12.60
Forfeited	(24,612)	26.00
Outstanding, December 31, 2020	1,293,107	26.34
Granted	6,339,974	32.51
Vested	(530,032)	30.57
Forfeited	(212,111)	29.74
Outstanding, December 31, 2021	6,890,938	$	31.59

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. There was $197.1 million of unrecognized compensation expense related to unvested RSUs that is expected to be recognized over a weighted-average period of 3.5 years as of December 31, 2021. The total fair value of RSUs vested during the years ended December 31, 2021, 2020, and 2019 was $16.2 million, $0.5 million, and $0.2 million, respectively.

Employee Stock Purchase Plan

On May 25, 2021, the Company adopted the 2021 ESPP. The 2021 ESPP provides for six-month offering periods beginning May 1st and November 1st of each fiscal year and provides eligible employees the opportunity to purchase shares of the Company’s common stock through accumulated payroll deductions at a 15% discount. On each purchase date, the purchase price of the shares is the lesser of (i) 85% of the fair market value of the Company’s common stock on the first day of trading of the offering period (the “grant date”) or (ii) 85% of the fair market value of the Company’s common stock on the last day of trading of the offering period. Payroll deductions are limited to 15% of an employee’s eligible compensation. The number of shares an employee may purchase during any offering period is limited to an aggregate value of $25,000 per calendar year based on the stock price on the grant date. During the year ended December 31, 2021, the Company withheld, at the employee’s request, $1.2 million of eligible employee compensation, which is included in accrued liabilities in the consolidated balance sheet, for purchases of common stock under the 2021 ESPP.

As of December 31, 2021, 3,000,000 shares of our common stock are reserved for future issuance under the 2021 ESPP. The total number of shares reserved for issuance under the 2021 ESPP will increase on January 1st of each of the first 10 calendar years after the first offering date by a number of shares of our common stock equal to 1% of the total number of shares of our common stock outstanding on December 31st of the preceding calendar year. The aggregate number of shares issued over the term of the 2021 ESPP will not exceed 16,000,000 shares. No shares of common stock were issued under the 2021 ESPP during the year ended December 31, 2021.

The grant date fair value of shares issued under the 2021 ESPP equals the sum of (i) 15% of the Company’s quoted stock price at the grant date and (ii) 85% of the fair market value of a stock option using the Black-Scholes option pricing model. The average grant date fair value for the offering period that commenced in 2021 was $11.97 per share. The Company used the following assumptions in the Black-Scholes option pricing model:


			Year Ended December 31, 2021
Expected term			0.5 years
Expected volatility			40.31%
Risk-free interest rate			0.06%
Expected dividend yield			—%

There was $0.7 million of unrecognized compensation expense related to the 2021 ESPP that is expected to be recognized over a period of four months as of December 31, 2021.

Net loss per Share

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

Net loss per share

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


	Years Ended December 31,
	2021		2020		2019
	(in thousands, except share and per share amounts)
Numerator:
Net loss	$	(75,189)	$	(24,082)	$	(34,345)
Denominator:
Weighted‑average shares used to compute net loss per share, basic and diluted	118,276,462		108,908,597		102,752,092
Basic and diluted net loss per share	$	(0.64)	$	(0.22)	$	(0.33)

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 years ended December 31, 2021, 2020, and 2019, the number of shares used to calculate diluted net loss per common share is the same as the number of shares used to calculate basic net loss per common share because the potentially dilutive shares would have been antidilutive if included in the calculation.

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


	Years Ended December 31,
	2021	2020	2019
Stock options outstanding	5,330,930	7,234,490	7,760,950
Unvested restricted stock units	6,890,938	1,293,107	36,520
Shares related to the 2026 Notes	7,475,897	—	—
Shares committed under the 2021 ESPP	108,331	—	—
Total potentially dilutive securities	19,806,096	8,527,597	7,797,470

Employee benefit plans	12 Months Ended
Employee benefit plans	Dec. 31, 2021
Retirement Benefits [Abstract]
Employee benefit plans	Employee benefit plans Employees located in the U.S. are generally eligible to participate in the JAMF Software 401(k) P/S Plan (the “401(k) Plan”). The 401(k) Plan allows eligible employees to defer a percentage of their annual compensation as defined in the 401(k) Plan on a pre-tax or after-tax basis up to the maximum amount allowed by the Internal Revenue Service. The Company contributes an amount equal to 3 percent of each participant’s eligible compensation each pay period regardless of whether the participant makes elective deferrals. The Company made contributions to the 401(k) Plan of $4.1 million, $3.2 million, and $2.5 million for the years ended December 31, 2021, 2020, and 2019, respectively. Employees outside of the U.S. who are not covered by the 401(k) Plan may be covered by local defined contribution plans, which are subject to applicable laws and rules of the country where the plans are administered. The Company made contributions to defined contributions plans outside of the U.S. of $1.5 million, $0.4 million, and $0.3 million for the years ended December 31, 2021, 2020, and 2019, respectively.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 55
-Paragraph 17
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+ Details

Long-term incentive plan	12 Months Ended
Long-term incentive plan	Dec. 31, 2021
Deferred Compensation Arrangements [Abstract]
Long-term incentive plan	Long-term incentive plan In 2018, the Company established a long-term incentive plan (“LTIP”) which provided for cash compensation to certain employees upon achievement of the same conditions of the Company’s return target options. In conjunction with the IPO, the conditions of the LTIP were modified to also vest following an IPO and registration and sale of shares by Vista provided that Vista achieves a cash return on its equity investment in the Company equaling or exceeding $1.515 billion. In the third quarter of 2021, the Company offered employees with LTIP grants the opportunity to convert those awards into RSUs under the 2020 Plan. Upon conversion, 50% of the RSUs vested immediately and the remaining 50% vest on the one year anniversary of the grant date, provided the employee remains continuously employed by the Company through the vesting date. All employees elected to convert their outstanding LTIP grants into RSUs, resulting in grants totaling 413,234 shares. The conversion of the previously outstanding LTIP grants into RSUs resulted in the recognition of $9.8 million of stock-based compensation expense during the year ended December 31, 2021. The expense on the unvested RSUs is recognized on a straight-line basis over the vesting period.

Income taxes

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Income taxes

The domestic and foreign components of loss before income tax benefit were as follows:


	Years Ended December 31,
	2021		2020		2019
	(in thousands)
Domestic	$	(71,537)	$	(34,829)	$	(43,544)
Foreign	(8,441)		792		(834)
Loss before income tax benefit	$	(79,978)	$	(34,037)	$	(44,378)

The components of income tax expense (benefit) attributable to continuing operations were as follows:


	Years Ended December 31,
	2021		2020		2019
	(in thousands)
Current:
Federal	$	—	$	(551)	$	(7)
State	217		(73)		138
Foreign	638		987		1,013
Total current expense	855		363		1,144
Deferred:
Federal	(487)		(10,657)		(9,341)
State	(1,145)		(1,173)		(1,209)
Foreign	(4,012)		1,512		(627)
Total deferred benefit	(5,644)		(10,318)		(11,177)
Total income tax benefit	$	(4,789)	$	(9,955)	$	(10,033)

The income tax benefit differs from the amount of income tax benefit determined by applying the statutory U.S. federal income tax rate to pretax loss due to the following:


	Years Ended December 31,
	2021		2020		2019
Statutory U.S. federal income tax rate	21.0	%	21.0	%	21.0	%
State income tax benefit, net of federal tax effect	3.1		4.7		2.9
Permanent differences	—		(0.7)		(0.5)
Foreign rate differential	(0.5)		(0.5)		0.2
Remeasurement gain/loss	0.7		(2.0)		0.5
Tax credits	2.3		3.4		2.0
Valuation allowance	(24.4)		(2.3)		(2.0)
Stock-based compensation	12.2		6.9		—
Transaction costs	(0.8)		(0.5)		(0.4)
Deferred rate change	0.9		(1.0)		(0.3)
GILTI inclusion	—		—		(0.5)
Section 162(m)	(9.4)		—		—
Other	0.9		0.2		(0.3)
Effective tax rate	6.0	%	29.2	%	22.6	%

Significant components of the Company’s deferred income tax assets and liabilities were as follows:


	December 31,
	2021		2020
	(in thousands)
Deferred tax assets:
Allowance for doubtful accounts	$	95	$	113
Accrued compensation	4,529		3,119
Deferred revenue	8,331		3,724
Stock-based compensation	5,026		1,938
Federal tax credits	6,668		4,099
Net operating losses	46,173		26,996
State tax credits	2,086		1,640
Business interest limitation	10,450		9,829
Operating lease liabilities	4,848		—
Convertible Senior Notes	8,304		—
Other	3,172		1,942
Gross deferred tax assets	99,682		53,400
Valuation allowance	(31,512)		(3,016)
Total deferred tax assets	68,170		50,384
Deferred tax liabilities:
Prepaid items	(624)		(853)
Equipment and leasehold improvements	(168)		—
Deferred contract costs	(10,491)		(7,634)
Operating lease right-of-use assets	(4,047)		—
Intangibles and other	(59,670)		(46,898)
Other	(399)		—
Gross deferred tax liabilities	(75,399)		(55,385)
Net deferred tax liabilities	$	(7,229)	$	(5,001)

The components giving rise to the net deferred tax liabilities detailed above have been included in the consolidated balance sheets as of December 31, 2021 and 2020 as follows:


	December 31,
	2021		2020
	(in thousands)
Non-current deferred tax assets (1)	$	1,471	$	86
Non-current deferred tax liabilities	(8,700)		(5,087)
Net deferred tax liabilities	$	(7,229)	$	(5,001)

(1) Included in other assets in the consolidated balance sheets.

As of December 31, 2021, the Company established a valuation allowance against a majority of our domestic deferred tax assets to reduce the total to an amount management believed was appropriate based on an analysis of both positive and negative evidence. Realization of deferred tax assets is dependent upon sufficient future taxable income during the periods when deductible temporary differences and carryforwards are expected to be available to reduce taxable income. The valuation allowance increased by $28.5 million, $0.9 million, and $0.9 million for the years ended December 31, 2021, 2020, and 2019 respectively.

As of December 31, 2021, the Company had a U.S. federal net operating loss carryforward of approximately $139.8 million, a foreign net operating loss carryforward of approximately $52.8 million, federal research and development credits of approximately $6.1 million, and foreign tax credits of approximately $1.2 million primarily consisting of investment tax credit carryforwards. The Company also had state net operating loss carryforwards of approximately $81.8 million and state credits for research and development of approximately $2.9 million. Approximately $102.5 million of the federal net operating loss carryforwards will begin to expire in 2037. The remainder of the federal net operating losses of $37.3 million and the foreign net operating losses are carried forward indefinitely. The state net operating loss carryforwards will begin to expire in 2022 and are available to offset future taxable income or reduce taxes payable through 2040. The federal research and development credits, state research and development credits, and foreign tax credits will begin expiring in 2033, 2026, and 2023, respectively.

A company’s ability to utilize a portion of its net operating loss carryforwards to offset future taxable income may be subject to certain limitations under Section 382 of the Internal Revenue Code due to changes in the equity ownership of the Company. The Company conducted a Section 382 analysis and determined that although an ownership change occurred in a prior period, all net operating losses that were not acquired are fully available as of December 31, 2021.

A reconciliation of the beginning and ending amount of gross unrecognized tax benefits was as follows:


	Years Ended December 31,
	2021		2020		2019
	(in thousands)
Balance, January 1	$	670	$	540	$	439
Additions based on tax positions related to the current year	161		130		92
Additions based on tax positions related to prior years	172		—		19
Reductions based on tax positions related to prior years	—		—		(10)
Balance, December 31	$	1,003	$	670	$	540

Under the provision for uncertainty in income taxes, the total gross amount of unrecognized tax benefit as of December 31, 2021 was approximately $1.1 million. If recognized, the total amount of unrecognized tax benefit that would affect the effective income tax rate was $0.9 million and $0.6 million as of December 31, 2021 and 2020, respectively.

The Company files income tax returns in the U.S. federal jurisdiction, Minnesota, and various other state and foreign jurisdictions. With few exceptions, the Company is not subject to U.S. federal, foreign, state, and local income tax examinations by tax authorities for years before 2018. It is difficult to predict the final timing and resolution of any particular uncertain tax position. Based on the Company’s assessment of many factors, including past experience and complex judgements about future events, the Company does not currently anticipate significant changes in its uncertain tax positions over the next 12 months.

The Company recognizes interest and penalties accrued related to unrecognized tax benefits as additional income tax expense. The Company did not recognize material income tax expense related to interest and penalties during the years ended December 31, 2021, 2020, and 2019.

On March 27, 2020, the CARES Act was signed into law. The most significant relief measure which the Company qualified for is the payroll tax deferral. Beginning with pay dates on and after April 17, 2020, the Company elected to defer the employer-paid portion of social security taxes, resulting in an accrual of $3.8 million as of December 31, 2020. The Company paid $1.9 million of the deferred portion of payroll taxes in the fourth quarter of 2021. The remaining $1.9 million is due December 31, 2022 and is included in accrued liabilities in the consolidated balance sheet.

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

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+ Details

Related party transactions	12 Months Ended
Related party transactions	Dec. 31, 2021
Related Party Transactions [Abstract]
Related-party transactions	Related party transactions The Company made pledges to the Jamf Nation Global Foundation (“JNGF”) of $1.2 million, $0.5 million, and $1.1 million for the years ended December 31, 2021, 2020, and 2019, respectively. As of December 31, 2021 and 2020, the Company accrued $1.5 million and $0.9 million, respectively, 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 7 for further discussion of this lease agreement. The Company may engage in transactions in the ordinary course of business with significant shareholders or 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 previously owned a majority of the Company. In the third quarter of 2021, Vista sold a portion of its investment in the Company such that its funds no longer owned a majority of the Company as of December 31, 2021. However, Vista is deemed a related party in accordance with ASC Topic 850, Related Party Disclosures (“ASC 850”) as it continues to be a principal owner 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 $0.1 million, $0.3 million, and $1.0 million for the years ended December 31, 2021, 2020, and 2019, respectively. The Company had nil and less than $0.1 million in accounts payable related to these expenses as of December 31, 2021 and 2020, respectively. The Company also has revenue arrangements with Vista affiliates. The Company recognized revenue related to these arrangements of $0.9 million, $1.0 million, and $0.7 million for the years ended December 31, 2021, 2020, and 2019, respectively. The Company had $0.2 million and $0.3 million in accounts receivable related to these agreements as of December 31, 2021 and 2020, respectively. 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 $1.3 million, $0.7 million, and $0.7 million for the years ended December 31, 2021, 2020, and 2019, respectively. The Company had $0.1 million in accounts payable related to these expenses as of both December 31, 2021 and 2020. The Company also has future commitments for other support software with certain Vista affiliates. See Note 8 for more information. During the years ended December 31, 2020 and 2019, affiliates of Vista were paid $2.1 million and $3.4 million, respectively, in interest on the portion of the 2017 Term Loan Facility held by them.

Condensed financial information (Parent Company only)

12 Months Ended

Dec. 31, 2021

Condensed Financial Information Disclosure [Abstract]

Condensed financial information (Parent Company only)

Jamf Holding Corp.

(Parent Company only)

Condensed Balance Sheets

(in thousands, except share and per share amounts)


	December 31,
	2021		2020
Assets
Current assets:
Cash and cash equivalents	$	—	$	—
Total current assets	—		—
Investment in subsidiaries	738,426		811,014
Total assets	$	738,426	$	811,014

Liabilities and stockholders’ equity
Current liabilities:
Current liabilities	$	—	$	—
Total current liabilities	—		—
Other liabilities	—		—
Total liabilities	—		—
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $0.001 par value, 50,000,000 shares authorized at December 31, 2021 and 2020; no shares issued and outstanding at December 31, 2021 and 2020	—		—
Common stock, $0.001 par value, 500,000,000 shares authorized at December 31, 2021 and 2020; 119,426,064 and 116,992,472 shares issued and outstanding at December 31, 2021 and 2020, respectively	119		117
Additional paid-in capital	913,581		903,116
Accumulated other comprehensive loss	(7,866)		—
Accumulated deficit	(167,408)		(92,219)
Total stockholders’ equity	738,426		811,014
Total liabilities and stockholders’ equity	$	738,426	$	811,014

Jamf Holding Corp.

(Parent Company only)

Condensed Statements of Operations

(in thousands)


	Years Ended December 31,
	2021		2020		2019
Revenue	$	—	$	—	$	—
Operating expenses	—		—		—
Loss from operations	—		—		—
Other income, net	—		—		—
Loss before income tax benefit and equity in net loss of subsidiaries	—		—		—
Income tax benefit	—		—		—
Equity in net loss of subsidiaries	(75,189)		(24,082)		(34,345)
Net loss	$	(75,189)	$	(24,082)	$	(34,345)

Jamf Holding Corp.

(Parent Company only)

Condensed Statements of Comprehensive Loss

(in thousands)


	Years Ended December 31,
	2021		2020		2019
Net loss	$	(75,189)	$	(24,082)	$	(34,345)
Other comprehensive loss:
Subsidiaries’ other comprehensive loss	(7,866)		—		—
Total other comprehensive loss	(7,866)		—		—
Comprehensive loss	$	(83,055)	$	(24,082)	$	(34,345)

Basis of presentation

Jamf Holding Corp. is a holding company with no material operations of its own that conducts substantially all of its activities through its subsidiaries. Jamf Holding Corp. has no direct outstanding debt obligations. However, JAMF Holdings Inc., a wholly owned subsidiary, as borrower under the 2020 Credit Agreement, is limited in its ability to declare dividends or make any payment on account of its capital stock to, directly or indirectly, fund a dividend or other distribution to Jamf Holding Corp., subject to limited exceptions, including (1) stock repurchases, (2) unlimited amounts subject to compliance with a 6.0 to 1.0 total leverage ratio giving pro forma effect to any distribution, (3) amounts not to exceed the greater of (i) $20 million and (ii) 20% of EBITDA in any reference period, and (4) payment of Jamf Holding Corp.’s overhead expenses. Due to the aforementioned qualitative restrictions, substantially all of the assets of Jamf Holding Corp.’s subsidiaries are restricted. For a discussion of the 2020 Credit Agreement, see Note 9.

These condensed financial statements have been presented on a “parent-only” basis. Under a parent-only presentation, Jamf Holding Corp.’s investment in subsidiaries is presented under the equity method of accounting. A condensed statement of cash flows was not presented because Jamf Holding Corp. has no material operating, investing, or financing cash flow activities for the years ended December 31, 2021, 2020, and 2019. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted. As such, these parent-only statements should be read in conjunction with the accompanying notes to consolidated financial statements.

Subsequent events	12 Months Ended
Subsequent events	Dec. 31, 2021
Subsequent Events [Abstract]
Subsequent events	Subsequent eventsThe Company evaluated events or transactions that occurred after the balance sheet date for potential recognition or disclosure through the date the financial statements were issued. No subsequent events or transactions were identified.

Summary of significant accounting policies (Policies)

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Basis of presentation

Basis of presentation and principles of consolidationThe consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries.

Principles of consolidation

principles of consolidationAll intercompany accounts and transactions have been eliminated in consolidation.

Error correction

Use of estimates

Segment and geographic information

Net loss per share of common stock

Cash and cash equivalents

Trade receivables, net

Credit is extended to customers in the normal course of business, generally with 30-day payment terms. Trade receivables are recorded at the invoiced amount, net of allowances.

Equipment and leasehold improvements, net

Equipment and leasehold improvements, net are tested for impairment whenever events or circumstances indicate that the carrying amount of an asset may not be recoverable.

Business combinations

Goodwill

Other intangibles with finite lives

Other intangibles, netIntangible assets with finite lives include trademarks, customer relationships, developed technology, non-competes, and order backlog. These assets are amortized over their estimated useful lives, which range from two to twelve years, on a straight-line basis. Intangible assets with finite lives are tested for impairment whenever events or circumstances indicate that the carrying amount of an asset (asset group) may not be recoverable. An impairment loss is recognized when the carrying amount of an asset exceeds the estimated undiscounted cash flows generated by the asset. The amount of the impairment loss recorded is calculated by the excess of the asset’s carrying value over its fair value.

Other intangibles with indefinite lives

Lessee, Leases

Operating leases

the underlying collateral, currency, and economic environment in determining the incremental borrowing rate to apply to each lease.

Foreign currencyOur reporting currency is the U.S. dollar. The functional currency of our foreign operations, except for Wandera Ltd. and its subsidiaries, is the U.S. dollar. The functional currency of Wandera Ltd. and its subsidiaries is the GBP. The assets, liabilities, revenues, and expenses of our foreign operations are remeasured in accordance with ASC Topic 830, Foreign Currency Matters. Remeasurement adjustments are recorded as foreign currency transaction gains (losses) in the consolidated statement of operations. Assets and liabilities of Wandera Ltd. and its subsidiaries are translated into U.S. dollars based upon exchange rates prevailing at the end of each period. Revenues and expenses of Wandera Ltd. and its subsidiaries are translated at weighted-average exchange rates on a monthly basis. The resulting translation adjustment is included in accumulated other comprehensive loss.

Stock-based compensation

The Black-Scholes option pricing model requires the use of subjective assumptions as inputs. These assumptions include the following:

•Expected Dividend — The Company uses an expected dividend yield of zero as we do not currently pay dividends and have no plans to pay dividends in the foreseeable future.

Income taxes

Revenue recognition

The Company applies ASC 606 and follows the following five-step model to determine the appropriate amount of revenue to be recognized in accordance with ASC 606:

•Identify the contract with a customer

•Identify the performance obligations in the contract

•Determine the transaction price

•Allocate the transaction price to the performance obligations in the contract

•Recognize revenue when or as performance obligations are satisfied

Nature of Products and Services

Transaction Price

Significant Judgments

Disaggregation of Revenue


	Years Ended December 31,
	2021		2020		2019
	(in thousands)
SaaS subscription and support and maintenance	$	313,950	$	223,655	$	158,493
On‑premise subscription	30,293		25,224		16,625
Subscription revenue	344,243		248,879		175,118
Professional services	16,122		14,519		19,014
Perpetual licenses	6,023		5,734		9,833
Non‑subscription revenue	22,145		20,253		28,847
Total revenue	$	366,388	$	269,132	$	203,965

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:


	Years Ended December 31,
	2021		2020		2019
	(in thousands)
Balance, beginning of the period	$	205,509	$	140,449	$	100,025
Acquisitions	5,200		—		—
Revenue earned	(160,002)		(127,915)		(85,471)
Deferral of revenue	231,421		192,975		125,895
Balance, end of the period	$	282,128	$	205,509	$	140,449

There were no significant changes to our contract assets and liabilities during the years ended December 31, 2021, 2020, and 2019 outside of our sales activities.

an entity not to recognize a significant financing component if the time between the transfer of a good or service and payment is one year or less.

Remaining Performance Obligations

Deferred Contract Costs

Concentrations of Risk

Research and development costs and software development costs

Leased or Marketed, and under ASC Topic 350-40, Internal-Use Software, were not material for the years ended December 31, 2021, 2020, and 2019.

Advertising costs

Advertising costsAdvertising costs are expensed as incurred and presented within sales and marketing in the consolidated statements of operations.

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

Recently issued accounting pronouncements not yet adopted

Reference Rate Reform

Adoption of new accounting pronouncements

Business Combinations — Accounting for Contract Assets and Contract Liabilities from Contracts with Customers

Financial Instruments — Credit Losses

Leases

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

Basis of presentation and description of business (Tables)

12 Months Ended

Dec. 31, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of revenue by geographic location

Revenue by geographic region as determined based on the location where the sale originated was as follows:


	Years Ended December 31,
	2021		2020		2019
	(in thousands)
The Americas (1)	$	271,047	$	208,171	$	156,001
Europe, the Middle East, India, and Africa	71,521		45,775		36,431
Asia Pacific	23,820		15,186		11,533
	$	366,388	$	269,132	$	203,965

(1) The vast majority of the Americas is the United States.

Schedule of equipment and leasehold improvements, net by geographic region

Long-lived assets, which include equipment and leasehold improvements, net and operating lease right-of-use (“ROU”) assets for purposes of this disclosure, by geographic region were as follows:


	December 31,
	2021		2020
	(in thousands)
The Americas	$	30,459	$	11,227
Europe, the Middle East, India, and Africa	6,839		2,310
Asia Pacific	2,347		1,593
	$	39,645	$	15,130

Summary of significant accounting policies (Tables)

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Schedule of activity related to allowance for doubtful accounts

Activity related to our allowance for credit losses for trade receivables was as follows:


	Years Ended December 31,
	2021		2020		2019
	(in thousands)
Balance, beginning of period	$	530	$	200	$	60
Provision	143		824		279
Write-offs	(373)		(494)		(139)
Recoveries of amounts previously written off	91		—		—
Balance, end of period	$	391	$	530	$	200

Schedule of disaggregation of revenue

Revenue from subscription and non-subscription contractual arrangements were as follows:


	Years Ended December 31,
	2021		2020		2019
	(in thousands)
SaaS subscription and support and maintenance	$	313,950	$	223,655	$	158,493
On‑premise subscription	30,293		25,224		16,625
Subscription revenue	344,243		248,879		175,118
Professional services	16,122		14,519		19,014
Perpetual licenses	6,023		5,734		9,833
Non‑subscription revenue	22,145		20,253		28,847
Total revenue	$	366,388	$	269,132	$	203,965

Schedule of changes in contract assets and liabilities

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:


	Years Ended December 31,
	2021		2020		2019
	(in thousands)
Balance, beginning of the period	$	205,509	$	140,449	$	100,025
Acquisitions	5,200		—		—
Revenue earned	(160,002)		(127,915)		(85,471)
Deferral of revenue	231,421		192,975		125,895
Balance, end of the period	$	282,128	$	205,509	$	140,449

Financial instruments fair value (Tables)

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Fair value, assets and liabilities measured on recurring basis

The fair value of these financial instruments were as follows:


	December 31, 2021
	Level 1		Level 2		Level 3		Total
	(in thousands)
Cash equivalents:
Money market funds	$	146,037	$	—	$	—	$	146,037
Total cash equivalents	$	146,037	$	—	$	—	$	146,037

Contingent consideration:
Accrued liabilities	$	—	$	—	$	4,588	$	4,588
Other liabilities	—		—		5,512		5,512
Total contingent consideration	$	—	$	—	$	10,100	$	10,100


	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

Contingent consideration:
Other liabilities	$	—	$	—	$	8,200	$	8,200
Total contingent consideration	$	—	$	—	$	8,200	$	8,200

Summary of changes in contingent consideration classified as Level 3

The following table provides a summary of the changes in contingent consideration, which is classified as Level 3:


	Years Ended December 31,
	2021		2020		2019
	(in thousands)
Balance, beginning of period	$	8,200	$	9,200	$	9,000
Additions	359		—		—
Total (gains) losses included in:
Net loss	6,037		(1,000)		200
Payments	(4,206)		—		—
Other (1)	(290)		—		—
Balance, end of period	$	10,100	$	8,200	$	9,200

(1) See Note 5 for more information on the reduction to contingent consideration related to the cmdReporter acquisition.

Schedule of carrying values and estimated fair values of debt instruments

The following table presents the net carrying value and estimated fair value of the 2026 Notes, which are not recorded at fair value in the consolidated balance sheet:


	December 31, 2021
	Net Carrying Value		Estimated Fair Value
	(in thousands)
2026 Notes	$	362,031	$	398,044

Equipment and leasehold improvements (Tables)

12 Months Ended

Dec. 31, 2021

Property, Plant and Equipment [Abstract]

Schedule of equipment and leasehold improvements

Equipment and leasehold improvements were as follows:


	December 31,
	2021		2020
	(in thousands)
Computers	$	14,629	$	10,529
Software	1,182		666
Furniture/fixtures	4,394		3,417
Leasehold improvements	11,123		10,669
Capital in progress	3,003		698
Equipment and leasehold improvements, gross	34,331		25,979
Less: accumulated depreciation	(16,286)		(10,849)
Equipment and leasehold improvements, net	$	18,045	$	15,130

Acquisitions (Tables)

12 Months Ended

Dec. 31, 2021

Business Combination and Asset Acquisition [Abstract]

Schedule of business acquisitions

Acquisition-related costs were expensed as incurred and were as follows:


	Year Ended December 31, 2021
	(in thousands)
Cost of revenue:
Subscription	$	88
Sales and marketing	180
Research and development	1,088
General and administrative	4,896
	$	6,252

Schedule of acquisitions

The following table summarizes the preliminary allocation of the purchase price to the estimated fair values of the assets acquired and liabilities assumed and reflects measurement period adjustments through December 31, 2021 (in thousands):


Assets acquired:
Cash and cash equivalents	$	9,605
Trade accounts receivable, net	3,882
Prepaid expenses	900
Other current assets	426
Equipment and leasehold improvements, net	58
Intangible assets acquired	102,050
Operating lease assets	1,474
Deferred tax asset	918
Liabilities assumed:
Accounts payable	(788)
Accrued liabilities	(3,464)
Income taxes payable	(94)
Deferred revenue	(5,200)
Operating lease liabilities	(1,474)
Deferred tax liability	(9,374)
Goodwill	310,356
Total purchase consideration	$	409,275

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

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


Assets acquired:
Cash	$	17
Other current assets	71
Long‑term assets	12
Deferred tax asset	5
Liabilities assumed:
Accounts payable and accrued liabilities	(25)
Deferred revenue	(123)
Intangible assets acquired	1,111
Goodwill	1,662
Total purchase consideration	$	2,730

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


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


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

Schedule of finite-lived intangible assets acquired as part of business combination

The estimated useful lives and fair values of the identifiable intangible assets acquired were as follows:


	Useful Life	Gross Value
		(in thousands)
Developed technology	6.5 years	$	60,500
Customer relationships	11.0 years	35,600
Order backlog	2.5 years	3,800
Non-competes	2.5 years	1,750
Trademarks	3.0 years	400
Total identifiable intangible assets		$	102,050

The estimated useful lives and fair values of the identifiable intangible assets acquired were as follows:


	Useful Life	Gross Value
		(in thousands)
Customer relationships	8.0 years	$	7,900
Developed technology	5.0 years	4,300
Non-competes	2.0 years	90
Trademarks	0.9 years	20
Total identifiable intangible assets		$	12,310

Schedule of pro forma revenue and earnings

Pro forma consolidated revenues and net loss for the years ended December 31, 2021 and 2020, calculated as if Wandera had been acquired as of January 1, 2020, were as follows:


	Years Ended December 31,
	2021		2020
	(in thousands)
Revenues	$	377,996	$	288,666
Net loss	(83,383)		(44,671)

Goodwill and other intangible assets (Tables)

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of changes in carrying amount of goodwill

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


	Years Ended December 31,
	2021		2020		2019
	(in thousands)
Goodwill, beginning of period	$	541,480	$	539,818	$	501,145
Goodwill acquired	311,203		1,662		38,673
Measurement period adjustments (1)	(477)		—		—
Foreign currency translation adjustment	(6,472)		—		—
Goodwill, end of period	$	845,734	$	541,480	$	539,818

(1) Represents the measurement period adjustments related to the Wandera acquisition. See Note 5 for more information.

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

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


	December 31, 2021
	Useful Life	Gross Value		Accumulated Amortization		Net Carrying Value		Weighted‑ Average Remaining Useful Life
	(in thousands)
Trademarks	3 - 8 years	$	34,690	$	17,788	$	16,902	3.8 years
Customer relationships	2 ‑ 12 years	249,495		75,600		173,895		8.3 years
Developed technology	5 - 6.5 years	116,193		47,142		69,051		5.1 years
Non‑competes	2 - 2.5 years	1,797		439		1,358		2.0 years
Order backlog	2.5 years	3,745		758		2,987		2.0 years
Total intangible assets subject to amortization		405,920		141,727		264,193
IPR&D	Indefinite	400		—		400
Total intangible assets		$	406,320	$	141,727	$	264,593


	December 31, 2020
	Useful Life	Gross Value		Accumulated Amortization		Net Carrying Value		Weighted‑ Average Remaining 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
Total intangible assets		$	303,401	$	100,523	$	202,878

Schedule of future estimated amortization expense

Future estimated amortization expense as of December 31, 2021 is as follows (in thousands):


Years ending December 31:
2022	$	47,303
2023	39,517
2024	35,984
2025	34,859
2026	30,538
Thereafter	75,992
Total amortization expense	$	264,193

Leases - (Tables)

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Supplemental balance sheet information

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

Leases

Balance Sheet Classification

December 31, 2021

(in thousands)

Assets

Operating lease assets

Other assets

21,600

Liabilities

Operating lease liabilities - current

Accrued liabilities

5,251

Operating lease liabilities - non-current

Other liabilities

20,086

Total operating lease liabilities

25,337

Components of lease expense

The components of lease expense were as follows:


	Year Ended December 31, 2021

Operating lease cost	$	5,935
Short-term lease cost	272
Variable lease cost	1,943
Total lease expense	$	8,150

Schedule of operating lease liability

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


	Operating Leases
	(in thousands)
Years ending December 31:
2022	$	6,036
2023	5,645
2024	4,584
2025	2,519
2026	2,507
Thereafter	6,975
Total lease payments	28,266
Less: imputed interest	2,929
Total present value of lease liabilities	$	25,337

Schedule of future minimum lease payments under non-cancelable leases

Approximate future minimum lease payments for non-cancelable operating leases with unrelated and related parties as of December 31, 2020 under ASC 840 were as follows:


	Unrelated		Related		Total
	(in thousands)
Years ending December 31:
2021	$	4,758	$	1,079	$	5,837
2022	4,294		1,090		5,384
2023	4,146		1,101		5,247
2024	3,705		832		4,537
2025	2,551		—		2,551
Thereafter	9,482		—		9,482
	$	28,936	$	4,102	$	33,038

Commitments and contingencies (Tables)

12 Months Ended

Dec. 31, 2021

Commitments and Contingencies Disclosure [Abstract]

Schedule of minimum payments under contractual agreements

The below table reflects the minimum payments under these agreements with unrelated and related parties as of December 31, 2021:


	Unrelated		Related		Total
	(in thousands)
Years ending December 31:
2022	$	19,165	$	693	$	19,858
2023	4,100		295		4,395
2024	104		302		406
2025	—		308		308
2026	—		—		—
Thereafter	—		—		—
	$	23,369	$	1,598	$	24,967

Debt (Tables)

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Schedule of interest expense

The following table sets forth the interest expense related to the 2026 Notes for the year ended December 31, 2021 (in thousands):


Contractual interest expense	$	135
Amortization of issuance costs	711

Share-based compensation (Tables)

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Schedule of stock based compensation

The Company recognized stock-based compensation expense for all equity arrangements as follows:


	Years Ended December 31,
	2021		2020		2019
	(in thousands)
Cost of revenue:
Subscription	$	3,755	$	732	$	194
Services	594		139		—
Sales and marketing	10,938		1,748		460
Research and development	10,512		1,533		394
General and administrative	10,006		2,591		1,413
	$	35,805	$	6,743	$	2,461

Summary of stock-option activity

The table below summarizes return target options activity for the years ended December 31, 2021, 2020, and 2019:


	Options	Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value (in thousands)
Outstanding, January 1, 2019	2,200,189	$	5.49	8.9	$	—
Granted	1,653,209	8.29			—
Exercised	—	—			—
Forfeitures	(165,734)	5.49			—
Outstanding, December 31, 2019	3,687,664	6.75		8.8	29,908
Granted	—	—			—
Exercised	—	—			—
Forfeitures	—	—			—
Outstanding, December 31, 2020	3,687,664	6.75		7.8	85,444
Granted	—	—			—
Exercised	—	—			—
Forfeitures	—	—			—
Outstanding, December 31, 2021	3,687,664	$	6.75	6.8	$	115,278
Options exercisable at December 31, 2021	—	$	—	—	$	—
Vested or expected to vest at December 31, 2021	—	$	—	—	$	—

The table below summarizes the service-based option activity for the years ended December 31, 2021, 2020, and 2019:


	Options	Weighted‑ Average Exercise Price		Weighted‑ Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value (in thousands)
Outstanding, January 1, 2019	4,245,709	$	5.51	8.9	$	—
Granted	212,668	8.21			—
Exercised	(168,391)	5.49			256
Forfeitures	(216,700)	5.49			—
Outstanding, December 31, 2019	4,073,286	5.65		8.1	37,520
Granted	—	—			—
Exercised	(526,460)	5.67			13,899
Forfeitures	—	—			—
Outstanding, December 31, 2020	3,546,826	5.65		7.1	86,098
Granted	—	—			—
Exercised	(1,903,560)	5.62			54,716
Forfeitures	—	—			—
Outstanding, December 31, 2021	1,643,266	$	5.68	6.1	$	53,129
Options exercisable at December 31, 2021	1,434,887	$	5.49	5.9	$	46,658
Vested or expected to vest at December 31, 2021	1,643,266	$	5.68	6.1	$	53,129

Schedule of stock-based payment award valuation inputs


	Years Ended December 31,
	2020	2019
Expected life of options	1.50 years	3 - 3.25 years
Expected volatility	55%	50% - 55%
Risk-free interest rates	0.16%	1.49% - 1.67%
Expected dividend yield	—%	—%
Weighted-average grant-date fair value	$8.95	$6.02

The Company used the following assumptions in the Black-Scholes option pricing model to estimate the fair value of service-based options granted during the year ended December 31, 2019:


			Year Ended December 31, 2019
Expected life of options			6.25 years
Expected volatility			45.1% - 45.3%
Risk-free interest rates			1.6% - 1.7%
Expected dividend yield			—%
Weighted-average grant-date fair value			$7.29

The Company used the following assumptions in the Black-Scholes option pricing model:


			Year Ended December 31, 2021
Expected term			0.5 years
Expected volatility			40.31%
Risk-free interest rate			0.06%
Expected dividend yield			—%

Summary of restricted stock units activity

Restricted stock unit activity for the years ended December 31, 2021, 2020, and 2019 was as follows:


	Units	Weighted-Average Grant Date Fair Value (per share)
Outstanding, January 1, 2019	25,520	$	5.87
Granted	36,520	12.60
Vested	(25,520)	5.87
Forfeited	—	—
Outstanding, December 31, 2019	36,520	12.60
Granted	1,317,719	26.33
Vested	(36,520)	12.60
Forfeited	(24,612)	26.00
Outstanding, December 31, 2020	1,293,107	26.34
Granted	6,339,974	32.51
Vested	(530,032)	30.57
Forfeited	(212,111)	29.74
Outstanding, December 31, 2021	6,890,938	$	31.59

Net loss per share (Tables)

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

Schedule of computation of basic and diluted net loss per share

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


	Years Ended December 31,
	2021		2020		2019
	(in thousands, except share and per share amounts)
Numerator:
Net loss	$	(75,189)	$	(24,082)	$	(34,345)
Denominator:
Weighted‑average shares used to compute net loss per share, basic and diluted	118,276,462		108,908,597		102,752,092
Basic and diluted net loss per share	$	(0.64)	$	(0.22)	$	(0.33)

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


	Years Ended December 31,
	2021	2020	2019
Stock options outstanding	5,330,930	7,234,490	7,760,950
Unvested restricted stock units	6,890,938	1,293,107	36,520
Shares related to the 2026 Notes	7,475,897	—	—
Shares committed under the 2021 ESPP	108,331	—	—
Total potentially dilutive securities	19,806,096	8,527,597	7,797,470

Income taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of income before income tax, domestic and foreign

The domestic and foreign components of loss before income tax benefit were as follows:


	Years Ended December 31,
	2021		2020		2019
	(in thousands)
Domestic	$	(71,537)	$	(34,829)	$	(43,544)
Foreign	(8,441)		792		(834)
Loss before income tax benefit	$	(79,978)	$	(34,037)	$	(44,378)

Schedule of income tax provision (benefit)

The components of income tax expense (benefit) attributable to continuing operations were as follows:


	Years Ended December 31,
	2021		2020		2019
	(in thousands)
Current:
Federal	$	—	$	(551)	$	(7)
State	217		(73)		138
Foreign	638		987		1,013
Total current expense	855		363		1,144
Deferred:
Federal	(487)		(10,657)		(9,341)
State	(1,145)		(1,173)		(1,209)
Foreign	(4,012)		1,512		(627)
Total deferred benefit	(5,644)		(10,318)		(11,177)
Total income tax benefit	$	(4,789)	$	(9,955)	$	(10,033)

Schedule of income tax rate reconciliation

The income tax benefit differs from the amount of income tax benefit determined by applying the statutory U.S. federal income tax rate to pretax loss due to the following:


	Years Ended December 31,
	2021		2020		2019
Statutory U.S. federal income tax rate	21.0	%	21.0	%	21.0	%
State income tax benefit, net of federal tax effect	3.1		4.7		2.9
Permanent differences	—		(0.7)		(0.5)
Foreign rate differential	(0.5)		(0.5)		0.2
Remeasurement gain/loss	0.7		(2.0)		0.5
Tax credits	2.3		3.4		2.0
Valuation allowance	(24.4)		(2.3)		(2.0)
Stock-based compensation	12.2		6.9		—
Transaction costs	(0.8)		(0.5)		(0.4)
Deferred rate change	0.9		(1.0)		(0.3)
GILTI inclusion	—		—		(0.5)
Section 162(m)	(9.4)		—		—
Other	0.9		0.2		(0.3)
Effective tax rate	6.0	%	29.2	%	22.6	%

Schedule of components of net deferred tax assets and liabilities

Significant components of the Company’s deferred income tax assets and liabilities were as follows:


	December 31,
	2021		2020
	(in thousands)
Deferred tax assets:
Allowance for doubtful accounts	$	95	$	113
Accrued compensation	4,529		3,119
Deferred revenue	8,331		3,724
Stock-based compensation	5,026		1,938
Federal tax credits	6,668		4,099
Net operating losses	46,173		26,996
State tax credits	2,086		1,640
Business interest limitation	10,450		9,829
Operating lease liabilities	4,848		—
Convertible Senior Notes	8,304		—
Other	3,172		1,942
Gross deferred tax assets	99,682		53,400
Valuation allowance	(31,512)		(3,016)
Total deferred tax assets	68,170		50,384
Deferred tax liabilities:
Prepaid items	(624)		(853)
Equipment and leasehold improvements	(168)		—
Deferred contract costs	(10,491)		(7,634)
Operating lease right-of-use assets	(4,047)		—
Intangibles and other	(59,670)		(46,898)
Other	(399)		—
Gross deferred tax liabilities	(75,399)		(55,385)
Net deferred tax liabilities	$	(7,229)	$	(5,001)

The components giving rise to the net deferred tax liabilities detailed above have been included in the consolidated balance sheets as of December 31, 2021 and 2020 as follows:


	December 31,
	2021		2020
	(in thousands)
Non-current deferred tax assets (1)	$	1,471	$	86
Non-current deferred tax liabilities	(8,700)		(5,087)
Net deferred tax liabilities	$	(7,229)	$	(5,001)

(1) Included in other assets in the consolidated balance sheets.

Schedule of unrecognized tax benefits

A reconciliation of the beginning and ending amount of gross unrecognized tax benefits was as follows:


	Years Ended December 31,
	2021		2020		2019
	(in thousands)
Balance, January 1	$	670	$	540	$	439
Additions based on tax positions related to the current year	161		130		92
Additions based on tax positions related to prior years	172		—		19
Reductions based on tax positions related to prior years	—		—		(10)
Balance, December 31	$	1,003	$	670	$	540

Condensed financial information (Parent Company only) (Tables)

12 Months Ended

Dec. 31, 2021

Condensed Financial Information Disclosure [Abstract]

Condensed Balance Sheet


	December 31,
	2021		2020
Assets
Current assets:
Cash and cash equivalents	$	—	$	—
Total current assets	—		—
Investment in subsidiaries	738,426		811,014
Total assets	$	738,426	$	811,014

Liabilities and stockholders’ equity
Current liabilities:
Current liabilities	$	—	$	—
Total current liabilities	—		—
Other liabilities	—		—
Total liabilities	—		—
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $0.001 par value, 50,000,000 shares authorized at December 31, 2021 and 2020; no shares issued and outstanding at December 31, 2021 and 2020	—		—
Common stock, $0.001 par value, 500,000,000 shares authorized at December 31, 2021 and 2020; 119,426,064 and 116,992,472 shares issued and outstanding at December 31, 2021 and 2020, respectively	119		117
Additional paid-in capital	913,581		903,116
Accumulated other comprehensive loss	(7,866)		—
Accumulated deficit	(167,408)		(92,219)
Total stockholders’ equity	738,426		811,014
Total liabilities and stockholders’ equity	$	738,426	$	811,014

Condensed Income Statement


	Years Ended December 31,
	2021		2020		2019
Revenue	$	—	$	—	$	—
Operating expenses	—		—		—
Loss from operations	—		—		—
Other income, net	—		—		—
Loss before income tax benefit and equity in net loss of subsidiaries	—		—		—
Income tax benefit	—		—		—
Equity in net loss of subsidiaries	(75,189)		(24,082)		(34,345)
Net loss	$	(75,189)	$	(24,082)	$	(34,345)

Condensed Statement of Comprehensive Income (Loss)


	Years Ended December 31,
	2021		2020		2019
Net loss	$	(75,189)	$	(24,082)	$	(34,345)
Other comprehensive loss:
Subsidiaries’ other comprehensive loss	(7,866)		—		—
Total other comprehensive loss	(7,866)		—		—
Comprehensive loss	$	(83,055)	$	(24,082)	$	(34,345)

Basis of presentation and description of business - IPO (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended	12 Months Ended
	Jul. 24, 2020	Sep. 30, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Acquisitions
Proceeds from initial public offering, net of underwriting discounts and commissions			$ 0	$ 326,316	$ 0
Offering costs			$ 543	$ 7,256	721
Common stock, shares authorized (in shares)	500,000,000		500,000,000	500,000,000
Common stock, par value (in dollars per share)	$ 0.001		$ 0.001	$ 0.001
Preferred stock, shares authorized ( in shares)	50,000,000		50,000,000	50,000,000
Preferred stock, par value (in dollars per share)	$ 0.001		$ 0.001	$ 0.001
Repayment of debt	$ 205,000
Accrued interest paid	3,400
Prepayment penalty	2,000
Write-off of debt issuance cost	$ 3,200
Loss on debt extinguishment		$ (5,200)	$ (449)	$ (5,213)	$ 0
IPO
Acquisitions
Issuance of common stock (in shares)	13,500,000
Offering price (in dollars per share)	$ 26.00
Proceeds from initial public offering, net of underwriting discounts and commissions	$ 319,000
Underwriting discount and commissions	24,700
Offering costs	$ 7,300
Issuance of common stock				322,413
Private placement
Acquisitions
Issuance of common stock (in shares)	85,880
Offering costs			$ 600	700
Issuance of common stock	$ 2,200			$ 2,233

Basis of presentation and description of business - Segment and geographic information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($) segment	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Disaggregation of Revenue [Line Items]
Number of operating segment \| segment	1
Number of reportable segment \| segment	1
Total revenue	$ 366,388	$ 269,132	$ 203,965
Long-Lived Assets	39,645	15,130
The Americas
Disaggregation of Revenue [Line Items]
Total revenue	271,047	208,171	156,001
Long-Lived Assets	30,459	11,227
Europe, the Middle East, India, and Africa
Disaggregation of Revenue [Line Items]
Total revenue	71,521	45,775	36,431
Long-Lived Assets	6,839	2,310
Asia Pacific
Disaggregation of Revenue [Line Items]
Total revenue	23,820	15,186	$ 11,533
Long-Lived Assets	$ 2,347	$ 1,593
U.S. \| Property, Plant and Equipment \| Geographic Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk percentage	77.00%	74.00%

Summary of significant accounting policies - Trade receivables, net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 530	$ 200	$ 60
Provision	143	824	279
Write-offs	(373)	(494)	(139)
Recoveries of amounts previously written off	91	0	0
Ending balance	$ 391	$ 530	$ 200

Summary of significant accounting policies - Equipment, Intangibles (Details)		12 Months Ended
	Oct. 01, 2021 USD ($)	Dec. 31, 2021 USD ($) item	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Property, Plant and Equipment [Line Items]
Impairment of long-lived assets		$ 0	$ 0	$ 0
Number of reporting units \| item		1
Goodwill, impairment loss	$ 0
Impairment of intangible assets, finite-lived		$ 0	$ 0	$ 0
Impairment of intangible assets, indefinite-lived (excluding goodwill)		$ 0
Minimum
Property, Plant and Equipment [Line Items]
Useful life		2 years
Maximum
Property, Plant and Equipment [Line Items]
Useful life		12 years
Computers \| Minimum
Property, Plant and Equipment [Line Items]
Useful life		3 years
Computers \| Maximum
Property, Plant and Equipment [Line Items]
Useful life		5 years
Software
Property, Plant and Equipment [Line Items]
Useful life		3 years
Furniture/fixtures \| Minimum
Property, Plant and Equipment [Line Items]
Useful life		5 years
Furniture/fixtures \| Maximum
Property, Plant and Equipment [Line Items]
Useful life		7 years

Summary of significant accounting policies - Stock split, Offering costs (Details) $ in Thousands		12 Months Ended
	Jul. 10, 2020	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Jul. 24, 2020 USD ($)
Subsidiary, Sale of Stock [Line Items]
Stock split ratio	110
Deferred offering costs					$ 7,300
Offering costs		$ 543	$ 7,256	$ 721
Private placement
Subsidiary, Sale of Stock [Line Items]
Offering costs		$ 600	$ 700

Summary of significant accounting policies - Stock-based compensation (Details) - USD ($) $ in Millions		6 Months Ended	12 Months Ended
	Jul. 24, 2020	Jun. 30, 2020	Dec. 31, 2021	Dec. 31, 2018
Accounting Policies [Abstract]
Threshold cash return on investment upon termination event to determine vesting of performance shares	$ 1,515.0		$ 1,515.0	$ 1,515.0
Award expiration period			10 years
Fair value after plan modification		$ 33.0

Summary of significant accounting policies - Disaggregation of revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disaggregation of Revenue [Line Items]
Total revenue	$ 366,388	$ 269,132	$ 203,965
SaaS subscription and support and maintenance \| Recurring Revenue
Disaggregation of Revenue [Line Items]
Total revenue	313,950	223,655	158,493
On‑premise subscription \| Recurring Revenue
Disaggregation of Revenue [Line Items]
Total revenue	30,293	25,224	16,625
Subscription
Disaggregation of Revenue [Line Items]
Total revenue	344,243	248,879	175,118
Subscription \| Recurring Revenue
Disaggregation of Revenue [Line Items]
Total revenue	344,243	248,879	175,118
Services
Disaggregation of Revenue [Line Items]
Total revenue	16,122	14,519	19,014
Services \| Non-recurring Revenue
Disaggregation of Revenue [Line Items]
Total revenue	16,122	14,519	19,014
License
Disaggregation of Revenue [Line Items]
Total revenue	6,023	5,734	9,833
License \| Non-recurring Revenue
Disaggregation of Revenue [Line Items]
Total revenue	6,023	5,734	9,833
Non‑subscription revenue \| Non-recurring Revenue
Disaggregation of Revenue [Line Items]
Total revenue	$ 22,145	$ 20,253	$ 28,847
Minimum \| Services
Disaggregation of Revenue [Line Items]
Service performance period	1 day
Maximum \| Services
Disaggregation of Revenue [Line Items]
Service performance period	2 days

Summary of significant accounting policies - Contract balances (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Non-current deferred revenue recognition period	5 years
Contract asset balance	$ 1,800	$ 900	$ 500
Change in Contract with Customer, Liability [Abstract]
Balance, beginning of the period	205,509	140,449	100,025
Acquisitions	5,200	0	0
Revenue earned	(160,002)	(127,915)	(85,471)
Deferral of revenue	231,421	192,975	125,895
Balance, end of the period	$ 282,128	$ 205,509	$ 140,449
Payment terms	30 days

Summary of significant accounting policies - Remaining performance obligations (Details) $ in Millions	Dec. 31, 2021 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, revenue	$ 333.5
Remaining performance obligation, revenue recognition (percentage)	82.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, revenue recognition period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, revenue recognition period	3 years

Summary of significant accounting policies - Deferred contract costs, R&D, Advertising, Interest (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Concentration Risk [Line Items]
Benefit period	5 years
Total amortization of contract costs	$ 12,500,000	$ 8,000,000	$ 5,200,000
Impairment losses	0	0	0
Trade accounts receivable, net	79,143,000	69,056,000
Advertising costs	17,000,000	13,400,000	8,700,000
Interest expense from debt financing	2,500,000	10,800,000	21,900,000
Interest income from cash investments		100,000	500,000
Accounts Receivable \| Credit Concentration Risk
Concentration Risk [Line Items]
Trade accounts receivable, net	$ 17,400,000	$ 19,800,000	$ 6,000,000
Accounts Receivable \| Customer Concentration Risk \| One Distributor
Concentration Risk [Line Items]
Concentration risk percentage	22.00%	23.00%

Summary of significant accounting policies - Recent pronouncements (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Jan. 01, 2021
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease assets	$ 21,600
Operating lease liability	$ 25,337
Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease assets		$ 25,000
Operating lease liability		$ 28,600

Financial instruments fair value - Fair value of financial instruments (Details) - Fair Value, Recurring - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents	$ 146,037	$ 125,000
Total contingent consideration	10,100	8,200
Accrued liabilities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total contingent consideration	4,588
Other liabilities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total contingent consideration	5,512	8,200
Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents	146,037	125,000
Total contingent consideration	0	0
Level 1 \| Accrued liabilities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total contingent consideration	0
Level 1 \| Other liabilities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total contingent consideration	0	0
Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents	0	0
Total contingent consideration	0	0
Level 2 \| Accrued liabilities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total contingent consideration	0
Level 2 \| Other liabilities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total contingent consideration	0	0
Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents	0	0
Total contingent consideration	10,100	8,200
Level 3 \| Accrued liabilities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total contingent consideration	4,588
Level 3 \| Other liabilities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total contingent consideration	5,512	8,200
Money market funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents	146,037	100,000
Money market funds \| Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents	146,037	100,000
Money market funds \| Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents	0	0
Money market funds \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents	$ 0	0
U.S. Treasuries
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents		25,000
U.S. Treasuries \| Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents		25,000
U.S. Treasuries \| Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents		0
U.S. Treasuries \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents		$ 0

Financial instruments fair value - Changes in fair value (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period	$ 8,200	$ 9,200	$ 9,000
Additions	359	0	0
Net loss	6,037	(1,000)	200
Payments	(4,206)	0	0
Other	(290)	0	0
Balance, end of period	$ 10,100	$ 8,200	$ 9,200

Financial instruments fair value - Fair value measurements of other financial instruments (Details) - Convertible Senior Notes Due 2026 - Convertible Debt $ in Thousands	Dec. 31, 2021 USD ($)
Net Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of debt	$ 362,031
Estimated Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of debt	$ 398,044

Financial instruments fair value - Narrative (Details) - Convertible Senior Notes Due 2026 - Convertible Debt - USD ($) $ in Millions	Dec. 31, 2021	Sep. 17, 2021
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Debt, aggregate principal amount		$ 373.8
Debt issuances costs capitalized	$ 11.7

Equipment and leasehold improvements (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Equipment and leasehold improvements, gross	$ 34,331	$ 25,979
Less: accumulated depreciation	(16,286)	(10,849)
Equipment and leasehold improvements, net	18,045	15,130
Depreciation expense	5,800	5,200	$ 4,400
Computers
Property, Plant and Equipment [Line Items]
Equipment and leasehold improvements, gross	14,629	10,529
Software
Property, Plant and Equipment [Line Items]
Equipment and leasehold improvements, gross	1,182	666
Furniture/fixtures
Property, Plant and Equipment [Line Items]
Equipment and leasehold improvements, gross	4,394	3,417
Leasehold improvements
Property, Plant and Equipment [Line Items]
Equipment and leasehold improvements, gross	11,123	10,669
Capital in progress
Property, Plant and Equipment [Line Items]
Equipment and leasehold improvements, gross	$ 3,003	$ 698

Acquisitions - Wandera (Details) - USD ($)				2 Months Ended	3 Months Ended	5 Months Ended	6 Months Ended	12 Months Ended
Acquisitions - Wandera (Details) - USD ($)	Dec. 15, 2021	Oct. 01, 2021	Jul. 01, 2021	Dec. 15, 2021	Dec. 31, 2021	Dec. 15, 2021	Dec. 31, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Acquisitions
Measurement period adjustments								$ (477,000)	$ 0	$ 0
Wandera Inc.
Acquisitions
Voting interest			100.00%
Cash consideration	$ 25,000,000	$ 25,000,000	$ 359,300,000	$ 50,000,000		$ 409,300,000
Restricted cash			$ 700,000
Revenues							$ 10,600,000
Business combination, pro forma information, loss of acquiree since acquisition date, actual							11,300,000
Acquisition-related expenses								6,252,000
Measurement period adjustments					$ (500,000)
Measurement period adjustment, other current assets					400,000
Measurement period adjustment, deferred tax asset					100,000
Goodwill deductible for income tax purposes					$ 0		$ 0	$ 0
Weighted-average economic life of intangible assets acquired			7 years 9 months 18 days

Acquisitions - Related costs (Details) - Wandera Inc. $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($)
Business Combination, Separately Recognized Transactions [Line Items]
Acquisition-related costs	$ 6,252
Cost of revenue:
Business Combination, Separately Recognized Transactions [Line Items]
Acquisition-related costs	88
Sales and marketing
Business Combination, Separately Recognized Transactions [Line Items]
Acquisition-related costs	180
Research and development
Business Combination, Separately Recognized Transactions [Line Items]
Acquisition-related costs	1,088
General and administrative
Business Combination, Separately Recognized Transactions [Line Items]
Acquisition-related costs	$ 4,896

Acquisitions - Schedule of acquisitions (Details) - USD ($) $ in Thousands								2 Months Ended	5 Months Ended
	Dec. 15, 2021	Oct. 01, 2021	Jul. 01, 2021	Feb. 26, 2021	Oct. 15, 2020	Jul. 26, 2019	Feb. 01, 2019	Dec. 15, 2021	Dec. 15, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Liabilities assumed:
Goodwill										$ 845,734	$ 541,480	$ 539,818	$ 501,145
Wandera Inc.
Acquisitions
Cash consideration	$ 25,000	$ 25,000	$ 359,300					$ 50,000	$ 409,300
Assets acquired:
Cash and cash equivalents			9,605
Other current assets			426
Trade accounts receivable, net			3,882
Prepaid expenses			900
Equipment and leasehold improvements, net			58
Intangible assets acquired			102,050
Operating lease assets			1,474
Deferred tax asset			918
Liabilities assumed:
Accounts payable			(788)
Accrued liabilities			(3,464)
Income taxes payable			(94)
Deferred revenue			(5,200)
Operating lease liabilities			(1,474)
Deferred tax liability			(9,374)
Goodwill			310,356
Total purchase consideration			$ 409,275
cmdReporter
Acquisitions
Cash consideration				$ 3,041
Contingent consideration				359
Final aggregate purchase price				3,400
Intangible assets acquired:
Intangible assets acquired				2,630
IPR&D				400
Liabilities assumed:
Goodwill				370
Total purchase consideration				$ 3,400
Mondada
Acquisitions
Final aggregate purchase price					$ 2,700
Assets acquired:
Cash and cash equivalents					17
Other current assets					71
Long‑term assets					12
Deferred tax asset					5
Intangible assets acquired:
Intangible assets acquired					1,111
Liabilities assumed:
Accounts payable and accrued liabilities					(25)
Deferred revenue					(123)
Goodwill					1,662
Total purchase consideration					$ 2,730
ZuluDesk B.V
Acquisitions
Final aggregate purchase price							$ 38,600
Assets acquired:
Cash and cash equivalents							3,325
Other current assets							1,306
Long‑term assets							154
Intangible assets acquired:
Intangible assets acquired							12,310
Liabilities assumed:
Accounts payable and accrued liabilities							(419)
Deferred revenue							(3,050)
Deferred tax liability							(2,996)
Goodwill							28,000
Total purchase consideration							$ 38,630
Digita Security LLC
Acquisitions
Final aggregate purchase price						$ 14,400
Assets acquired:
Cash and cash equivalents						512
Other current assets						1
Long‑term assets						12
Intangible assets acquired:
Intangible assets acquired						3,300
Liabilities assumed:
Accounts payable and accrued liabilities						(119)
Goodwill						10,673
Total purchase consideration						$ 14,379

Acquisitions - Acquired intangible assets (Details) - USD ($) $ in Thousands	Jul. 01, 2021	Feb. 01, 2019
Wandera Inc.
Acquisitions
Useful Life	7 years 9 months 18 days
Gross Value	$ 102,050
Wandera Inc. \| Developed technology
Acquisitions
Useful Life	6 years 6 months
Gross Value	$ 60,500
Wandera Inc. \| Customer relationships
Acquisitions
Useful Life	11 years
Gross Value	$ 35,600
Wandera Inc. \| Order backlog
Acquisitions
Useful Life	2 years 6 months
Gross Value	$ 3,800
Wandera Inc. \| Non-competes
Acquisitions
Useful Life	2 years 6 months
Gross Value	$ 1,750
Wandera Inc. \| Trademarks
Acquisitions
Useful Life	3 years
Gross Value	$ 400
ZuluDesk B.V
Acquisitions
Useful Life		7 years
Gross Value		$ 12,310
ZuluDesk B.V \| Developed technology
Acquisitions
Useful Life		5 years
Gross Value		$ 4,300
ZuluDesk B.V \| Customer relationships
Acquisitions
Useful Life		8 years
Gross Value		$ 7,900
ZuluDesk B.V \| Non-competes
Acquisitions
Useful Life		2 years
Gross Value		$ 90
ZuluDesk B.V \| Trademarks
Acquisitions
Useful Life		10 months 24 days
Gross Value		$ 20

Acquisitions - Pro forma information (Details) - Wandera Inc. - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Acquisitions
Revenues	$ 377,996	$ 288,666
Net loss	$ (83,383)	$ (44,671)

Acquisitions - cmdReporter (Details) - USD ($)		3 Months Ended	12 Months Ended
Acquisitions - cmdReporter (Details) - USD ($)	Feb. 26, 2021	Jun. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Acquisitions
Increase (decrease) in fair value of contingent consideration			$ 6,037,000	$ (1,000,000)	$ 200,000
cmdReporter
Acquisitions
Consideration transferred	$ 3,400,000
Contingent consideration, liability	$ 400,000		0
Measurement period	90 days
Contingent consideration earned			300,000
Increase (decrease) in fair value of contingent consideration		$ 100,000
Acquisition-related expenses			$ 100,000
cmdReporter \| Developed technology
Acquisitions
Weighted-average economic life of intangible assets acquired	5 years

Acquisitions - Mondada (Details) - Mondada - USD ($)		12 Months Ended
Acquisitions - Mondada (Details) - Mondada - USD ($)	Oct. 15, 2020	Dec. 31, 2020	Dec. 31, 2021
Acquisitions
Aggregate purchase price	$ 2,700,000
Acquisition-related expenses		$ 200,000
Estimated fair value of the acquired finite lived intangibles	1,111,000
Goodwill deductible for income tax purposes			$ 0
Developed technology
Acquisitions
Estimated fair value of the acquired finite lived intangibles	$ 1,000,000
Weighted-average economic life of intangible assets acquired	5 years
Customer relationships
Acquisitions
Estimated fair value of the acquired finite lived intangibles	$ 100,000
Weighted-average economic life of intangible assets acquired	6 years

Acquisitions - Digita Security LLC (Details) - USD ($) $ in Thousands		12 Months Ended
	Jul. 26, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Jan. 31, 2022
Acquisitions
Cash payment for contingent consideration		$ 4,206	$ 0	$ 0
Developed technology
Acquisitions
Useful life			5 years
Maximum
Acquisitions
Useful life		12 years
Maximum \| Developed technology
Acquisitions
Useful life		6 years 6 months
Digita Security LLC
Acquisitions
Aggregate purchase price	$ 14,400
Contingent consideration, liability	9,000
Acquisition-related expenses				500
Goodwill deductible for income tax purposes				$ 1,700
Maximum contingent consideration	$ 15,000
Cash payment for contingent consideration		$ 4,200
Additional cash payment period		30 days
Compensation expense			$ 5,000
Digita Security LLC \| Subsequent Event
Acquisitions
Additional cash payment					$ 4,600
Digita Security LLC \| Developed technology
Acquisitions
Useful life	5 years
Digita Security LLC \| Maximum
Acquisitions
Compensation expense			$ 5,000

Acquisitions - ZuluDesk B.V. (Details) - ZuluDesk B.V - USD ($)		11 Months Ended	12 Months Ended
	Feb. 01, 2019	Dec. 31, 2019	Dec. 31, 2019
Acquisitions
Aggregate purchase price	$ 38,600,000
Goodwill deductible for income tax purposes		$ 0	$ 0
Acquisition-related expenses			$ 900,000
Revenues		4,500,000
Business combination, pro forma information, loss of acquiree since acquisition date, actual		$ 300,000
Weighted-average economic life of intangible assets acquired	7 years

Goodwill and other intangible assets - Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Goodwill [Roll Forward]
Goodwill, beginning of period	$ 541,480	$ 539,818	$ 501,145
Goodwill acquired	311,203	1,662	38,673
Measurement period adjustments	(477)	0	0
Foreign currency translation adjustment	(6,472)	0	0
Goodwill, end of period	$ 845,734	$ 541,480	$ 539,818

Goodwill and other intangible assets - Intangible assets (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Gross Value	$ 405,920,000	$ 303,401,000
Accumulated Amortization	141,727,000	100,523,000
Net Carrying Value	264,193,000	202,878,000
Net Carrying Value	264,193,000	202,878,000
Gross Value	406,320,000
Net Carrying Value	264,593,000	202,878,000
Foreign currency translation adjustment	(2,100,000)
Amortization expense	41,300,000	33,300,000	$ 32,700,000
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2022	47,303,000
2023	39,517,000
2024	35,984,000
2025	34,859,000
2026	30,538,000
Thereafter	75,992,000
Goodwill and intangible asset impairment	$ 0	$ 0	$ 0
Minimum
Finite-Lived Intangible Assets [Line Items]
Useful Life	2 years
Maximum
Finite-Lived Intangible Assets [Line Items]
Useful Life	12 years
IPR&D
Finite-Lived Intangible Assets [Line Items]
Indefinite	$ 400,000
Trademarks
Finite-Lived Intangible Assets [Line Items]
Useful Life		8 years
Gross Value	34,690,000	$ 34,320,000
Accumulated Amortization	17,788,000	13,454,000
Net Carrying Value	$ 16,902,000	$ 20,866,000
Weighted‑ Average Remaining Useful Life	3 years 9 months 18 days	4 years 9 months 18 days
Net Carrying Value	$ 16,902,000	$ 20,866,000
Trademarks \| Minimum
Finite-Lived Intangible Assets [Line Items]
Useful Life	3 years
Trademarks \| Maximum
Finite-Lived Intangible Assets [Line Items]
Useful Life	8 years
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Value	$ 249,495,000	214,428,000
Accumulated Amortization	75,600,000	55,810,000
Net Carrying Value	$ 173,895,000	$ 158,618,000
Weighted‑ Average Remaining Useful Life	8 years 3 months 18 days	8 years 8 months 12 days
Net Carrying Value	$ 173,895,000	$ 158,618,000
Customer relationships \| Minimum
Finite-Lived Intangible Assets [Line Items]
Useful Life	2 years	2 years
Customer relationships \| Maximum
Finite-Lived Intangible Assets [Line Items]
Useful Life	12 years	12 years
Developed technology
Finite-Lived Intangible Assets [Line Items]
Useful Life		5 years
Gross Value	$ 116,193,000	$ 54,563,000
Accumulated Amortization	47,142,000	31,173,000
Net Carrying Value	$ 69,051,000	$ 23,390,000
Weighted‑ Average Remaining Useful Life	5 years 1 month 6 days	2 years 3 months 18 days
Net Carrying Value	$ 69,051,000	$ 23,390,000
Developed technology \| Minimum
Finite-Lived Intangible Assets [Line Items]
Useful Life	5 years
Developed technology \| Maximum
Finite-Lived Intangible Assets [Line Items]
Useful Life	6 years 6 months
Non-competes
Finite-Lived Intangible Assets [Line Items]
Useful Life		2 years
Gross Value	$ 1,797,000	$ 90,000
Accumulated Amortization	439,000	86,000
Net Carrying Value	$ 1,358,000	$ 4,000
Weighted‑ Average Remaining Useful Life	2 years	1 month 6 days
Net Carrying Value	$ 1,358,000	$ 4,000
Non-competes \| Minimum
Finite-Lived Intangible Assets [Line Items]
Useful Life	2 years
Non-competes \| Maximum
Finite-Lived Intangible Assets [Line Items]
Useful Life	2 years 6 months
Order backlog
Finite-Lived Intangible Assets [Line Items]
Useful Life	2 years 6 months
Gross Value	$ 3,745,000
Accumulated Amortization	758,000
Net Carrying Value	$ 2,987,000
Weighted‑ Average Remaining Useful Life	2 years
Net Carrying Value	$ 2,987,000

Goodwill and other intangible assets - Future amortization expense (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
2022	$ 47,303
2023	39,517
2024	35,984
2025	34,859
2026	30,538
Thereafter	75,992
Net Carrying Value	$ 264,193	$ 202,878

Leases - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
Leases - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Lessee, Lease, Description [Line Items]
Lessee, operating lease, renewal term (up to)	10 years
Lessee, finance lease, term of contract	4 years
Operating lease, weighted average remaining lease term	5 years 10 months 24 days
Operating lease, weighted average discount rate, percent	3.50%
Operating lease cost	$ 5,935	$ 5,000	$ 4,300
Operating lease, payments	5,900
Affiliated Entity
Lessee, Lease, Description [Line Items]
Operating lease cost	$ 1,100	$ 1,100	$ 1,300
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 - Supplemental balance sheet information (Details) $ in Thousands	Dec. 31, 2021 USD ($)
Assets
Operating lease assets	$ 21,600
Operating lease, right-of-use asset, statement of financial position	Other assets
Liabilities
Operating lease liabilities - current	$ 5,251
Operating lease liabilities - non-current	20,086
Total operating lease liabilities	$ 25,337
Operating lease, liability, current, statement of financial position	Accrued liabilities
Operating lease, liability, noncurrent, statement of financial position	Other liabilities

Leases - Components of lease expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating lease cost	$ 5,935	$ 5,000	$ 4,300
Short-term lease cost	272
Variable lease cost	1,943
Total lease expense	$ 8,150

Leases - Maturities of operating lease liabilities (Details) $ in Thousands	Dec. 31, 2021 USD ($)
Leases [Abstract]
2022	$ 6,036
2023	5,645
2024	4,584
2025	2,519
2026	2,507
Thereafter	6,975
Total lease payments	28,266
Less: imputed interest	2,929
Total present value of lease liabilities	$ 25,337

Leases - Future minimum lease payments (Details) $ in Thousands	Dec. 31, 2020 USD ($)
Lessee, Lease, Description [Line Items]
2021	$ 5,837
2022	5,384
2023	5,247
2024	4,537
2025	2,551
Thereafter	9,482
Total	33,038
Unrelated
Lessee, Lease, Description [Line Items]
2021	4,758
2022	4,294
2023	4,146
2024	3,705
2025	2,551
Thereafter	9,482
Total	28,936
Related
Lessee, Lease, Description [Line Items]
2021	1,079
2022	1,090
2023	1,101
2024	832
2025	0
Thereafter	0
Total	$ 4,102

Commitments and contingencies (Details) - USD ($)	12 Months Ended
Commitments and contingencies (Details) - USD ($)	Dec. 31, 2021	Jun. 30, 2021	Dec. 31, 2020
Other Commitments [Line Items]
2022	$ 19,858,000
2023	4,395,000
2024	406,000
2025	308,000
2026	0
Thereafter	0
Contractual obligation for hosting services	24,967,000
Damages awarded	5,000,000
Liabilities for contingencies	0	$ 4,200,000	$ 0
Affiliated Entity
Other Commitments [Line Items]
2022	693,000
2023	295,000
2024	302,000
2025	308,000
2026	0
Thereafter	0
Contractual obligation for hosting services	1,598,000
Unrelated
Other Commitments [Line Items]
2022	19,165,000
2023	4,100,000
2024	104,000
2025	0
2026	0
Thereafter	0
Contractual obligation for hosting services	$ 23,369,000

Debt - Narrative (Details) $ / shares in Units, shares in Millions				3 Months Ended	12 Months Ended
	Sep. 17, 2021 USD ($) day $ / shares shares	Jul. 01, 2021 USD ($)	Jul. 27, 2020 USD ($)	Sep. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Jun. 30, 2021 USD ($)	Sep. 30, 2020 USD ($)	Jan. 30, 2019 USD ($)	Nov. 13, 2017 USD ($)
Debt Instrument [Line Items]
Payment for purchase of capped calls	$ 36,000,000				$ 36,030,000	$ 0	$ 0
Debt issuance costs					13,134,000	1,264,000	1,550,000
Payment of debt extinguishment costs					0	2,050,000	$ 0
Commitment fee, amount					$ 300,000	100,000
Fed Funds Effective Rate Overnight Index Swap Rate
Debt Instrument [Line Items]
Interest margin, as a percent			0.50%
London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Interest margin, as a percent			1.00%
Minimum
Debt Instrument [Line Items]
Commitment fee, as a percent			0.20%
Minimum \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Applicable rate, as a percent			1.25%
Minimum \| Base Rate
Debt Instrument [Line Items]
Applicable rate, as a percent			0.25%
Maximum
Debt Instrument [Line Items]
Commitment fee, as a percent			0.35%
Maximum \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Applicable rate, as a percent			2.00%
Maximum \| Base Rate
Debt Instrument [Line Items]
Applicable rate, as a percent			1.00%
Call Option
Debt Instrument [Line Items]
Strike price (in dollars per share) \| $ / shares	$ 49.99
Initial cap price (in dollars per share) \| $ / shares	$ 71.42
Shares covered (in shares) \| shares	7.5
Payment for capped calls	$ 36,000,000
364-Day Facility \| Line of Credit \| Revolving Credit Facility
Debt Instrument [Line Items]
Proceeds to repay debt	250,000,000
Debt term		364 days
Principal amount		$ 250,000,000
Payment of debt extinguishment costs		$ 400,000
Debt issuance costs								$ 700,000
Term Loan
Debt Instrument [Line Items]
Maximum borrowing capacity										$ 205,000,000	$ 175,000,000
Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity											$ 15,000,000
Convertible Debt \| Convertible Senior Notes Due 2026
Debt Instrument [Line Items]
Debt, aggregate principal amount	$ 373,800,000
Interest rate (percentage)	0.125%
Proceeds from offering	$ 361,400,000
Number of trading days \| day	20
Number of consecutive trading days \| day	30
Threshold percentage of stock price	130.00%
Conversion ratio	0.0200024
Conversion price (in dollars per share) \| $ / shares	$ 49.99
Premium percentage of stock price	40.00%
Redemption price percentage	100.00%
Redemption threshold amount	$ 50,000,000
Fundamental change, threshold percentage	100.00%
Debt issuance costs				$ 12,400,000
Effective interest rate (percentage)					0.81%
Debt issuances costs capitalized					$ 11,700,000
Convertible Debt \| Convertible Senior Notes Due 2026 \| Circumstance One
Debt Instrument [Line Items]
Number of trading days \| day	20
Number of consecutive trading days \| day	30
Threshold percentage of stock price	130.00%
Convertible Debt \| Convertible Senior Notes Due 2026 \| Circumstance Two
Debt Instrument [Line Items]
Number of trading days \| day	5
Number of consecutive trading days \| day	10
Threshold percentage of stock price	98.00%
Line of Credit
Debt Instrument [Line Items]
Debt issuance costs in other assets					900,000	1,100,000
Line of Credit \| Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 150,000,000
Debt issuance costs									$ 1,300,000
Line of Credit \| Letter of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity			25,000,000
Debt outstanding					$ 1,000,000	$ 1,000,000
Line of Credit \| Foreign Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity			50,000,000
Line of Credit \| Term Loan
Debt Instrument [Line Items]
Maximum borrowing capacity per incremental loan			$ 5,000,000

Debt - Schedule of interest expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Amortization of issuance costs	$ 1,251	$ 773	$ 1,120
Convertible Debt \| Convertible Senior Notes Due 2026
Debt Instrument [Line Items]
Contractual interest expense	135
Amortization of issuance costs	$ 711

Share-based compensation - Stock-based compensation expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 35,805	$ 6,743	$ 2,461
Cost of revenue: \| Services
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	594	139	0
Cost of revenue: \| Subscription
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	3,755	732	194
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	10,938	1,748	460
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	10,512	1,533	394
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 10,006	$ 2,591	$ 1,413

Share-based compensation - Narrative (Details) - USD ($) $ in Millions		12 Months Ended
	Jul. 21, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Jan. 01, 2021	Nov. 13, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Tax benefit related to stock-based compensation		$ 12.8	$ 3.8	$ 0.5
Restricted stock units \| Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage that vest		50.00%
Omnibus Incentive Plan 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation, number of shares reserved for issuance, period of increases	10 years
Shares authorized for issuance (in shares)	14,800,000				19,479,699
Share based compensation, increase in shares reserved for issuance, minimum percentage increase	4.00%
Common stock reserved for additional grants under the plan		12,058,729
Omnibus Incentive Plan 2020 \| Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		4 years
Stock Option Plan 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized for issuance (in shares)						8,470,000
Common stock reserved for additional grants under the plan		128,928
Shares granted (in shares)		0
Stock Option Plan 2017 \| Restricted stock units \| Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage that vest		100.00%
Vesting period		1 year

Share-based compensation - Return target options activity (Details) - Employee Stock Option, Target-Based - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Options (in shares)
Outstanding, beginning balance (in shares)	3,687,664	3,687,664	2,200,189
Granted (in shares)	0	0	1,653,209
Exercised (in shares)	0	0	0
Forfeitures (in shares)	0	0	(165,734)
Outstanding, ending balance (in shares)	3,687,664	3,687,664	3,687,664	2,200,189
Exercisable (in shares)	0
Vested or expected to vest (in shares)	0
Weighted- Average Exercise Price
Outstanding, beginning balance (in dollars per share)	$ 6.75	$ 6.75	$ 5.49
Granted (in dollars per share)	0	0	8.29
Exercised (in dollars per share)	0	0	0
Forfeitures (in dollars per share)	0	0	5.49
Outstanding, ending balance (in dollars per share)	6.75	$ 6.75	$ 6.75	$ 5.49
Exercisable (in dollars per share)	0
Vested or expected to vest (in dollars per share)	$ 0
Weighted- Average Remaining Contractual Term (Years)
Remaining term, options outstanding	6 years 9 months 18 days	7 years 9 months 18 days	8 years 9 months 18 days	8 years 10 months 24 days
Aggregate Intrinsic Value (in thousands)
Options outstanding, beginning	$ 85,444	$ 29,908	$ 0
Options exercised	0	0	0
Options outstanding, ending	115,278	$ 85,444	$ 29,908	$ 0
Options exercisable	0
Options vested or expected to vest	$ 0
Number of options vested (in shares)	0	0	0
Unrecognized compensation expense
Unrecognized compensation expense	$ 33,000

Share-based compensation - Service based options activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Unrecognized compensation expense
Award expiration period	10 years
Employee Stock Option, Service-Based
Options (in shares)
Outstanding, beginning balance (in shares)	3,546,826	4,073,286	4,245,709
Shares granted (in shares)	0	0	212,668
Exercised (in shares)	(1,903,560)	(526,460)	(168,391)
Forfeitures (in shares)	0	0	(216,700)
Outstanding, ending balance (in shares)	1,643,266	3,546,826	4,073,286	4,245,709
Exercisable (in shares)	1,434,887
Vested or expected to vest (in shares)	1,643,266
Weighted- Average Exercise Price
Outstanding, beginning balance (in dollars per share)	$ 5.65	$ 5.65	$ 5.51
Granted (in dollars per share)	0	0	8.21
Exercised (in dollars per share)	5.62	5.67	5.49
Forfeitures (in dollars per share)	0	0	5.49
Outstanding, ending balance (in dollars per share)	5.68	$ 5.65	$ 5.65	$ 5.51
Exercisable (in dollars per share)	5.49
Vested or expected to vest (in dollars per share)	$ 5.68
Weighted- Average Remaining Contractual Term (Years)
Remaining term, options outstanding	6 years 1 month 6 days	7 years 1 month 6 days	8 years 1 month 6 days	8 years 10 months 24 days
Remaining term, options exercisable	5 years 10 months 24 days
Remaining term, options vested or expected to vest	6 years 1 month 6 days
Aggregate Intrinsic Value (in thousands)
Options outstanding, beginning	$ 86,098	$ 37,520	$ 0
Options exercised	54,716	13,899	256
Options outstanding, ending	53,129	86,098	37,520	$ 0
Options exercisable	46,658
Options vested or expected to vest	53,129
Total fair value, options vested in period	2,600	$ 2,600	$ 2,400
Unrecognized compensation expense
Unrecognized compensation expense	$ 1,000
Vesting period	4 years
Weighted average period over which unrecognized compensation expense would be recognized	1 year 7 months 6 days
Award expiration period	10 years
Employee Stock Option, Service-Based \| Tranche One
Unrecognized compensation expense
Vesting period	1 year
Percentage that vest	25.00%
Employee Stock Option, Service-Based \| Tranche Two
Unrecognized compensation expense
Vesting period	1 year
Percentage that vest	25.00%
Employee Stock Option, Service-Based \| Tranche Three
Unrecognized compensation expense
Vesting period	1 year
Percentage that vest	25.00%
Employee Stock Option, Service-Based \| Tranche Four
Unrecognized compensation expense
Vesting period	1 year
Percentage that vest	25.00%

Share-based compensation - Assumptions (Details) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Employee Stock Option, Target-Based
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life of options		1 year 6 months
Expected volatility		55.00%
Expected volatility minimum			50.00%
Expected volatility maximum			55.00%
Risk-free interest rates		0.16%
Risk-free interest rates minimum			1.49%
Risk-free interest rates maximum			1.67%
Expected dividend yield		0.00%	0.00%
Weighted-average grant-date fair value (in dollars per share)		$ 8.95	$ 6.02
Employee Stock Option, Target-Based \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life of options			3 years
Employee Stock Option, Target-Based \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life of options			3 years 3 months
Employee Stock Option, Service-Based
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life of options			6 years 3 months
Expected volatility minimum			45.10%
Expected volatility maximum			45.30%
Risk-free interest rates minimum			1.60%
Risk-free interest rates maximum			1.70%
Expected dividend yield			0.00%
Weighted-average grant-date fair value (in dollars per share)			$ 7.29
Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life of options	6 months
Expected volatility	40.31%
Risk-free interest rates	0.06%
Expected dividend yield	0.00%
Weighted-average grant-date fair value (in dollars per share)	$ 11.97

Share-based compensation - Restricted stock units (Details) - Restricted stock units - USD ($) $ / shares in Units, $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Restricted stock (in units)
Outstanding, beginning of period (in shares)	1,293,107	1,293,107	36,520	25,520
Granted (in shares)	413,234	6,339,974	1,317,719	36,520
Vested (in shares)		(530,032)	(36,520)	(25,520)
Forfeited (in shares)		(212,111)	(24,612)	0
Outstanding, end of period (in shares)		6,890,938	1,293,107	36,520
Weighted-Average Grant Date Fair Value (per share)
Outstanding, beginning of period (in dollars per share)	$ 26.34	$ 26.34	$ 12.60	$ 5.87
Granted (in dollars per share)		32.51	26.33	12.60
Vested (in dollars per share)		30.57	12.60	5.87
Forfeited (in dollars per share)		29.74	26.00	0
Outstanding, end of period (in dollars per share)		$ 31.59	$ 26.34	$ 12.60
Unrecognized compensation expense, RSUs		$ 197.1
Weighted average period over which unrecognized compensation expense would be recognized		3 years 6 months
Fair value of RSUs vested		$ 16.2	$ 0.5	$ 0.2
Tranche One
Weighted-Average Grant Date Fair Value (per share)
Percentage that vest		50.00%

Share-based compensation - Employee stock purchase plan (Details) - Employee Stock		12 Months Ended
	May 25, 2021	Dec. 31, 2021 USD ($) calendarYear $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Offering periods	6 months
Discount percentage	15.00%
Percentage of the fair market value of common stock	85.00%
Maximum employee payroll deduction percentage	15.00%
Aggregate value of shares purchased \| $		$ 25,000
Eligible employee compensation \| $		$ 1,200,000
Shares reserved for issuance (in shares) \| shares		3,000,000
Number of purchase periods \| calendarYear		10
Percentage of outstanding stock		1.00%
Shares authorized for issuance (in shares) \| shares		16,000,000
Shares issued (in shares) \| shares		0
Weighted-average grant-date fair value (in dollars per share) \| $ / shares		$ 11.97
Unrecognized compensation expense \| $		$ 700,000
Weighted average period over which unrecognized compensation expense would be recognized		4 months

Net loss per share - Computation (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Numerator:
Net loss	$ (75,189)	$ (24,082)	$ (34,345)
Denominator:
Weighted-average shares used to compute net loss per share, diluted (in shares)	118,276,462	108,908,597	102,752,092
Weighted-average shares used to compute net loss per share, basic (in shares)	118,276,462	108,908,597	102,752,092
Net loss per share, diluted (in dollars per share)	$ (0.64)	$ (0.22)	$ (0.33)
Net loss per share, basic (in dollars per share)	$ (0.64)	$ (0.22)	$ (0.33)

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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+ Details

- 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	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total potentially dilutive securities (in shares)	19,806,096	8,527,597	7,797,470
Stock options outstanding
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total potentially dilutive securities (in shares)	5,330,930	7,234,490	7,760,950
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total potentially dilutive securities (in shares)	6,890,938	1,293,107	36,520
Convertible Debt Securities
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total potentially dilutive securities (in shares)	7,475,897	0	0
Employee Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total potentially dilutive securities (in shares)	108,331	0	0

Employee benefit plans (Details) - USD ($) $ in Millions	12 Months Ended
Employee benefit plans (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
U.S.
Defined Contribution Plan Disclosure [Line Items]
Employer contribution, as a percent	3.00%
Contributions	$ 4.1	$ 3.2	$ 2.5
Foreign Plan
Defined Contribution Plan Disclosure [Line Items]
Contributions	$ 1.5	$ 0.4	$ 0.3

Long-term incentive plan (Details) - USD ($) $ in Thousands		9 Months Ended	12 Months Ended
Long-term incentive plan (Details) - USD ($) $ in Thousands	Jul. 24, 2020	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Threshold cash return on investment upon termination event to determine vesting of performance shares	$ 1,515,000		$ 1,515,000			$ 1,515,000
Share-based compensation expense			$ 35,805	$ 6,743	$ 2,461
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)		413,234	6,339,974	1,317,719	36,520
Share-based compensation expense			$ 9,800
Restricted stock units \| Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage that vest			50.00%
Restricted stock units \| Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage that vest			50.00%
Vesting period			1 year

Income taxes - Schedule of income before income tax (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Domestic	$ (71,537)	$ (34,829)	$ (43,544)
Foreign	(8,441)	792	(834)
Loss before income tax benefit	$ (79,978)	$ (34,037)	$ (44,378)

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

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+ Details

Income taxes - Provision (Details) - USD ($) $ in Thousands	12 Months Ended
Income taxes - Provision (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Current:
Current federal tax expense (benefit)	$ 0	$ (551)	$ (7)
Current state and local tax expense (benefit)	217	(73)	138
Current foreign tax expense (benefit)	638	987	1,013
Total current expense	855	363	1,144
Deferred:
Deferred federal income tax expense (benefit)	(487)	(10,657)	(9,341)
Deferred state and local income tax expense (benefit)	(1,145)	(1,173)	(1,209)
Deferred foreign income tax expense (benefit)	(4,012)	1,512	(627)
Deferred tax benefit	(5,644)	(10,318)	(11,177)
Total income tax benefit	$ (4,789)	$ (9,955)	$ (10,033)

Income taxes - Rate reconciliation (Details)	12 Months Ended
Income taxes - Rate reconciliation (Details)	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Statutory U.S. federal income tax rate	21.00%	21.00%	21.00%
State income tax benefit, net of federal tax effect	3.10%	4.70%	2.90%
Permanent differences	0.00%	(0.70%)	(0.50%)
Foreign rate differential	(0.50%)	(0.50%)	0.20%
Remeasurement gain/loss	0.70%	(2.00%)	0.50%
Tax credits	2.30%	3.40%	2.00%
Valuation allowance	(24.40%)	(2.30%)	(2.00%)
Stock-based compensation	12.20%	6.90%	0.00%
Transaction costs	(0.80%)	(0.50%)	(0.40%)
Deferred rate change	0.90%	(1.00%)	(0.30%)
GILTI inclusion	0	0	(0.005)
Section 162(m)	(9.40%)	0.00%	0.00%
Other	0.90%	0.20%	(0.30%)
Effective tax rate	6.00%	29.20%	22.60%

Income Taxes - Deferred assets/liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Deferred tax assets:
Allowance for doubtful accounts	$ 95	$ 113
Accrued compensation	4,529	3,119
Deferred revenue	8,331	3,724
Stock-based compensation	5,026	1,938
Federal tax credits	6,668	4,099
Net operating losses	46,173	26,996
State tax credits	2,086	1,640
Business interest limitation	10,450	9,829
Operating lease liabilities	4,848	0
Convertible Senior Notes	8,304	0
Other	3,172	1,942
Gross deferred tax assets	99,682	53,400
Valuation allowance	(31,512)	(3,016)
Total deferred tax assets	68,170	50,384
Deferred tax liabilities:
Prepaid items	(624)	(853)
Equipment and leasehold improvements	(168)	0
Deferred contract costs	(10,491)	(7,634)
Operating lease right-of-use assets	(4,047)	0
Intangibles and other	(59,670)	(46,898)
Other	(399)	0
Gross deferred tax liabilities	(75,399)	(55,385)
Net deferred tax liabilities	(7,229)	(5,001)
Non-current deferred tax assets	1,471	86
Non-current deferred tax liabilities	$ (8,700)	$ (5,087)

Income Taxes - Carryforwards, unrecognized benefits (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Taxes [Line Items]
Increase in valuation allowance		$ 28,500	$ 900	$ 900
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized tax benefits, beginning balance		670	540	439
Additions based on tax positions related to the current year		161	130	92
Additions based on tax positions related to prior years		172	0	19
Reductions based on tax positions related to prior years		0	0	(10)
Unrecognized tax benefits, ending balance	$ 1,003	1,003	670	$ 540
Unrecognized tax benefits, uncertainty in income taxes	1,100	1,100
Unrecognized tax benefits that would impact effective tax rate	900	900	600
Accrued liability, CARES Act			$ 3,800
Payments for deferred payroll tax, CARES Act	1,900
Accrued liability, current, CARES Act	1,900	1,900
Domestic Tax Authority
Income Taxes [Line Items]
Operating Loss Carryforwards	139,800	139,800
Operating loss carryforwards subject to expiration	102,500	102,500
Operating loss carryforwards not subject to expiration	37,300	37,300
Domestic Tax Authority \| Research Tax Credit Carryforward
Income Taxes [Line Items]
Tax Credit Carryforward, Amount	6,100	6,100
Foreign Tax Authority
Income Taxes [Line Items]
Operating Loss Carryforwards	52,800	52,800
Tax Credit Carryforward, Amount	1,200	1,200
State and Local Jurisdiction
Income Taxes [Line Items]
Operating Loss Carryforwards	81,800	81,800
State and Local Jurisdiction \| Research Tax Credit Carryforward
Income Taxes [Line Items]
Tax Credit Carryforward, Amount	$ 2,900	$ 2,900

Related party transactions (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Affiliated Entity \| JAMF Nation Global Foundation
Related Party Transaction [Line Items]
Amount of pledges to JAMF Nation Global Foundation	$ 1.2	$ 0.5	$ 1.1
Accrued expenses to JAMF Nation Global Foundation	1.5	0.9
Majority Shareholder \| Vista
Related Party Transaction [Line Items]
Expenses incurred for related party transactions	0.1	0.3	1.0
Accounts payable to related parties	0.0	0.1
Majority Shareholder \| Vista Affiliates
Related Party Transaction [Line Items]
Expenses incurred for related party transactions	1.3	0.7	0.7
Accounts payable to related parties	0.1	0.1
Revenue from arrangement with related party	0.9	1.0	0.7
Accounts receivable from related party	$ 0.2	0.3
Majority Shareholder \| Vista Affiliates \| Term Loan
Related Party Transaction [Line Items]
Interest paid on term loan		$ 2.1	$ 3.4

Condensed financial information (Parent Company only) - Condensed Balance Sheet (Details) - USD ($) $ / shares in Units, $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Jul. 24, 2020	Dec. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 177,150	$ 194,868		$ 32,375	$ 39,240
Total current assets	291,598	287,236
Total assets	1,480,420	1,074,285
Current liabilities:
Current liabilities	286,526	199,598
Total current liabilities	286,526	199,598
Other liabilities	25,640	13,079
Total liabilities	741,994	263,271
Commitments and contingencies
Stockholders’ equity:
Total stockholders’ equity	738,426	811,014		$ 500,722	$ 531,683
Total liabilities and stockholders’ equity	$ 1,480,420	$ 1,074,285
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001	$ 0.001
Preferred stock, shares authorized ( in shares)	50,000,000	50,000,000	50,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	500,000,000	500,000,000	500,000,000
Common stock, shares issued (in shares)	119,426,064	116,992,472
Common stock, shares outstanding (in shares)	119,426,064	116,992,472
Jamf Holding Corp
Current assets:
Cash and cash equivalents	$ 0	$ 0
Total current assets	0	0
Investment in subsidiaries	738,426	811,014
Total assets	738,426	811,014
Current liabilities:
Current liabilities	0	0
Total current liabilities	0	0
Other liabilities	0	0
Total liabilities	0	0
Stockholders’ equity:
Preferred stock, $0.001 par value, 50,000,000 shares authorized at December 31, 2021 and 2020; no shares issued and outstanding at December 31, 2021 and 2020	0	0
Common stock, $0.001 par value, 500,000,000 and 132,000,000 shares authorized at December 31, 2020 and 2019, respectively; 102,843,612 and 102,843,612 shares issued and outstanding at December 31, 2020 and 2019, respectively	119	117
Additional paid‑in capital	913,581	903,116
Accumulated other comprehensive loss	(7,866)	0
Accumulated deficit	(167,408)	(92,219)
Total stockholders’ equity	738,426	811,014
Total liabilities and stockholders’ equity	$ 738,426	$ 811,014
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized ( in shares)	50,000,000	50,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	119,426,064	116,992,472
Common stock, shares outstanding (in shares)	119,426,064	116,992,472

Condensed financial information (Parent Company only) - Condensed Statement of Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Condensed Financial Statements, Captions [Line Items]
Revenue	$ 366,388	$ 269,132	$ 203,965
Operating expenses	352,233	225,576	169,926
Loss from operations	(76,202)	(17,452)	(21,923)
Other income, net	0	91	220
Loss before income tax benefit	(79,978)	(34,037)	(44,378)
Income tax benefit	(4,789)	(9,955)	(10,033)
Net loss	(75,189)	(24,082)	(34,345)
Jamf Holding Corp
Condensed Financial Statements, Captions [Line Items]
Revenue	0		0
Operating expenses	0		0
Loss from operations	0	0	0
Other income, net	0		0
Loss before income tax benefit	0		0
Income tax benefit	0		0
Equity in net loss of subsidiaries	(75,189)	(24,082)	(34,345)
Net loss	$ (75,189)	$ (24,082)	$ (34,345)

Condensed financial information (Parent Company only) - Condensed Comprehensive Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Condensed Financial Statements, Captions [Line Items]
Net loss	$ (75,189)	$ (24,082)	$ (34,345)
Other comprehensive loss:
Foreign currency translation adjustments	(7,866)	0	0
Total other comprehensive loss	(7,866)	0	0
Comprehensive loss	(83,055)	(24,082)	(34,345)
Jamf Holding Corp
Condensed Financial Statements, Captions [Line Items]
Net loss	(75,189)	(24,082)	(34,345)
Other comprehensive loss:
Foreign currency translation adjustments	(7,866)	0	0
Total other comprehensive loss	(7,866)	0	0
Comprehensive loss	$ (83,055)	$ (24,082)	$ (34,345)

- Definition

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

+ References

+ Details

Condensed financial information (Parent Company only) - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2021 USD ($)
Condensed Financial Statements, Captions [Line Items]
Minimum leverage ratio	6.0
Maximum distribution	$ 20
Maximum distribution, as percentage of EBITDA	20.00%