Jamf remains well positioned to navigate these challenges due to a number of factors, including significant product differentiation, customer value and continuing to take a prudent approach to growth and profitability. And as we outlined last quarter, as part of our 2023 outlook, we anticipate these macro headwinds to continue for most of the year. This uncertainty has led to a muted hiring environment, causing both new and existing customers to limit their device growth expectations at the time of purchase and renewal. While the demand for Jamf solutions remains high, the rate at which devices have been purchased within organizations have significantly slowed due to continued macroeconomic uncertainty. Similar to last quarter, we saw continued demand for Jamf's management and security offerings with strong new logo growth and customer retention. We ended Q1 with more than 72,500 customers running Jamf on 30.8 million devices, adding approximately 800,000 devices within the quarter, slightly more than we added in Q1 or Q4 of 2022. These results are reflective of Jamf's continued strong performance amid this difficult macroeconomic environment. Jamf's ARR grew 21% year-over-year in Q1 to $526.6 million. Q1 year-over-year revenue growth was 22% and non-GAAP operating margin was 5%, both of which exceeded the high end of our outlook. Jamf is pleased to report that our first quarter of 2023 marks the 12th consecutive quarter where Jamf outperformed expectations. Thank you, Jenn, and thank you, everyone, for joining us. Now I'd like to turn the call over to Dean Hager. Additionally, to ensure we can address as many analyst questions as possible during the call, we ask that you please limit your question to one initial question and one follow-up. You can find the reconciliation of those measures to the nearest comparable GAAP measures in our earnings release. I would also like to remind you that during the call, we will discuss some non-GAAP measures related to Jamf's performance. Please refer to our most recent SEC reports, including our most recent annual report on Form 10-K, where you will see a discussion of factors that could cause actual results to differ materially from these statements. Today's discussion may include forward-looking statements. You may access this information on the Investor Relations section of. Additionally, we issued a press release announcing Dean's retirement and John's appointment to CEO, effective September 2, 2023. We also published a Q1 earnings presentation, along with an updated investor presentation and Excel file containing quarterly financial statements to assist with modeling. With me on today's call, are Dean Hager, Chief Executive Officer Ian Goodkind, Chief Financial Officer and John Strosahl, President and Chief Operating Officer.īefore we begin, I'd like to remind you that shortly after the market closed today, we issued a press release announcing our first quarter financial results. Good afternoon, and thank you for joining us on today's conference call to discuss Jamf's first quarter financial results.
(Operator Instructions) As a reminder, today's program is being recorded.Īnd now I'd like to introduce your host for today's program, Jennifer Gaumond, Vice President, Investor Relations. Thank you for standing by, and welcome to the Jamf First Quarter 2023 Earnings Conference Call. Raimo Lenschow MD & Analyst Barclays Bank PLC, Research Division Nicholas Paul Mattiacci Associate Analyst Craig-Hallum Capital Group LLC, Research Division Matthew George Hedberg Analyst RBC Capital Markets, Research Division Koji Ikeda VP & Research Analyst BofA Securities, Research Division Joshua Christopher Reilly Senior Analyst Needham & Company, LLC, Research Division John Strosahl COO & President Jamf Holding Corp. Jennifer Gaumond IR Officer Jamf Holding Corp. Ian Goodkind CFO & CAO Jamf Holding Corp.
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