Jamf, which develops mobile device management (MDM) software for Apple Macs, iPads and iPhones, launched a highly successful Initial Public Offering (IPO) today. Shares in the company ($JAMF) soared more than 50 percent on their first day of public trading activity.
But what does the Jamf IPO mean long-term for investors, Apple-focused MSPs, and the remote monitoring and management (RMM) software market?
Here are 10 things to keep in mind, according to ChannelE2E and the Jamf Form S-1 SEC Filing. Note: Story originally published July 2. Updated multiple times thereafter.
1. Flagship Products: Jamf's software addresses workflow automation, device management, monitoring, security and compliance for Apple devices.
2. Partner Program: Jamf's partner program focuses on resellers, solutions providers, integrators, MSPs, affiliates and consultants.
3. Rivals: Multiple companies now offer Apple-focused MDM and RMM software tools. Jamf rivals and alternatives include Apple's recently acquired Fleetsmith; and upstarts such as Addigy and Kandji. Also, MSP-focused software companies in the SMB market increasingly offer some level of Apple monitoring capabilities. Key names to know include ConnectWise, Datto, Kaseya, NinjaRMM, SolarWinds MSP and Syncro MSP, among others.
4. IPO Financial Targets: Jamf was looking to raise anywhere from $100 million to $300 million, IPO Renaissance estimates. The actual IPO raised $468 million, about 33% higher than expected, Investors Business Daily reports.
5. Company Valuation: Jamf's pre-IPO valuation appears to be around $3 billion, according to a January 2020 Bloomberg report. The company's updated market cap -- as of July 22, 2020 -- is $4.6 billion.
6. Financial Results - 2019: Jamf's revenue was $204 million in 2019, up 39 percent from 2018. The company lost $32.6 million in 2019, a slight improvement from a $36.3 million loss in 2018.
7. Financial Results - Q1 2020: Revenue was $60.4 million, up 37 percent from the first quarter of 2018. The company lost $8.3 million in Q1 2020, a slight improvement from a $9 million loss in Q1 of 2019.
8. Customer Reach: Jamf has more than 40,000 customers across 100 countries. Key adopters include IBM, Salesforce and SAP.
9. Private Equity Ownership: Vista Equity Partners acquired Jamf in October 2017, and owned the company prior to the IPO..
10. Key Sister Company - Datto: Vista Equity Partners also owns Datto - the MSP-focused technology provider, which is also preparing for a potential IPO.
