Jamf Holding Corp at Canaccord Genuity Growth Conference (Virtual) Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: David E. Hynes - Canaccord Genuity Corp., Research Division - Analyst : Yes. That's a really easy way to think about the business. Let's start just understanding like the benefits of focusing exclusively on the Apple ecosystem. Like what does that enable you to do that other competitors who focus on kind of various different operating systems can't do?

Question: David E. Hynes - Canaccord Genuity Corp., Research Division - Analyst : Yes. Yes. Yes, it makes a ton of sense. I want to try and think about the size of the market, right? I mean, in some ways, you're levered to the success at Apple is seeing. And obviously, that's a good market to be in, right? I mean their share gains in the enterprise and education continue to increase. So how do you size it? And then maybe you could talk about as part of that, some of the key themes that are driving adoption.

Question: David E. Hynes - Canaccord Genuity Corp., Research Division - Analyst : Yes. And then while we have going, Jill, maybe we could dive into some of the business mix, right? Because I think it's helpful for folks to understand like enterprise versus -- or I guess you guys call it commercial versus education is 1 part of it. And then iOS versus Mac is the other, right? Because there's different growth dynamics and different drivers of your business. So maybe just peel back the onion a bit on that and help folks understand the drivers.

Question: David E. Hynes - Canaccord Genuity Corp., Research Division - Analyst : Yes. Yes. Perfect. And then, Dean, can we go a little bit in the competition? I want to say the Apple part of that conversation, maybe as a follow-up. But there's kind of 2 different competitive sets I think about, right? Like the horizontal device management tools, which are guys like the Microsofts and the VMwares of the world. And then the folks that are also focused kind of solely on the Apple ecosystem. Can you just talk about kind of what you see out there in the field? How much of this is greenfield versus replacement? Just those competitive dynamics as it pertains to the go-to-market motion?

Question: David E. Hynes - Canaccord Genuity Corp., Research Division - Analyst : Yes. Yes, it makes perfect sense. Let's talk about the relationship with Apple, too. Because I think that's an important part of the conversation, right? You guys are a partner, Apple is customer. And I think there's fear in the market that Apple could be a competitor at some point, right? So let's take the first two first and talk about partner and customer, and then we could talk about the latter.

Question: David E. Hynes - Canaccord Genuity Corp., Research Division - Analyst : Yes, yes. It makes sense. I want to talk about the go-to-market motion. But part -- like before we get there, maybe let's talk about the user community, right? I feel like that's one of the underappreciated aspects of the Jamf story. If you do any sort of as an IT rep, if you do any sort of searching about how to manage Apple in the enterprise. Like you're going to come up on Jamf content, right? And I think that's a great lead gen tool for you guys. So maybe just talk about Jamf Nation and like how you nurture that community and what it means for the business? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. AUGUST 12, 2021 / 3:30PM, JAMF.OQ - Jamf Holding Corp at Canaccord Genuity Growth Conference (Virtual)

Question: David E. Hynes - Canaccord Genuity Corp., Research Division - Analyst : Yes, Yes, it's probably an underappreciated aspect of the business.

Question: David E. Hynes - Canaccord Genuity Corp., Research Division - Analyst : Jill, just in terms of the go-to-market, can you unpack kind of like the direct mix versus the self-serve versus the channel? And then kind of if there are different growth dynamics between those, help us understand that.

Question: David E. Hynes - Canaccord Genuity Corp., Research Division - Analyst : Yes. Yes, I know it's something you guys talked about on the earnings call, and it seems like there's more good news to come there. Dean, maybe just -- last thing to go to market and then we can dive in some of the products. Just your relationship with Microsoft, right? Because I think this whole conversation has been Apple, Apple, Apple. But Microsoft is a key partner as well. So just help us understand the nuances of that relationship a bit, right? Because we mentioned them as a competitor. Now we're talking about them as a partner.

Question: David E. Hynes - Canaccord Genuity Corp., Research Division - Analyst : Yes. Yes. That was one of the -- I don't know if pushback is the right word, that we got there in IPO process is like, well, what if this market goes like, you demand a single pain. It's like you can get a single pain with best-of-breed experiences because of that alignment that you guys have. I want to discuss some of the add-ons in cross-sells. We've talked about the core product, but Protect and Connect, I think, are significant parts of the growth story that are helping drive that net dollar retention. Just maybe talk a little bit about penetration of those products, where it could go? What that does to ASPs as they're added on? And then I want to dig in a little bit on security and Wandera.

Question: David E. Hynes - Canaccord Genuity Corp., Research Division - Analyst : Yes, yes. That makes sense. And then maybe that's a good segue just to talk about Wandera, like what attracted you to the asset? What's the vision in terms of addressing kind of a broader security stance as it relates to Apple and the mobile ecosystem even more broadly?

Question: David E. Hynes - Canaccord Genuity Corp., Research Division - Analyst : Yes, Yes. It's super exciting. It seems like not only -- I mean, you said it filled some holes, but it also kind of dramatically expanded the scope of other problems you can solve. I'm going to end with kind of an open-ended question, which is just like what do you think investors might not yet fully understand or fully appreciate about the Jamf story?

Question: David E. Hynes - Canaccord Genuity Corp., Research Division - Analyst : Yes. Yes. That's great to hear. I know you won't say it, but I can. I mean, look, these guys just put up 38% growth, north of 20% free cash flow margins. It's close to Rule of 60 execution. The stock, at least at the time of earnings, was trading at just around 9x revs. It's up a little bit since then. I said in my report post-quarter, like those types of numbers get you 15 to 20x in other areas of software. So we think this is a really interesting story. These guys are doing good work, and I expect that consistent execution will continue. So Dean, Jill, thank you guys for being here. I always enjoy these conversations.