MINNEAPOLIS - Jamf (NASDAQ: NASDAQ:JAMF), a company specializing in Apple (NASDAQ:AAPL) device management and security solutions for the workplace, has announced the availability of its flagship product, Jamf Pro, on the Microsoft (NASDAQ:MSFT) Azure cloud platform. This move is coupled with the news that Jamf Pro and Jamf's bundled plans are now purchasable through the Azure Marketplace. The company has also achieved the top-tier partner designation within Microsoft Azure's IP co-sell program, reflecting a deepening collaboration between the two tech giants.
The introduction of Jamf Pro to Azure allows new customers to host their Jamf Pro solution on a scalable and reliable cloud foundation, facilitating seamless integration with existing enterprise IT environments. The availability of Jamf's products on the Azure Marketplace provides a simplified procurement process for organizations that rely on Microsoft's cloud services, allowing them to allocate their Azure spend towards purchasing Jamf's offerings.
Henry Patel, Chief Strategy Officer at Jamf, expressed enthusiasm about the expansion, highlighting the benefits of a consolidated procurement experience and the enhanced efficiency through deep integrations of the two companies' solutions. The partnership aims to deliver robust management and security solutions for organizations using Apple devices.
In addition to the Azure integration, Jamf has announced the general availability of its plugin for Microsoft Copilot for Security. This plugin combines Jamf's Apple device security expertise with Microsoft's threat intelligence and AI capabilities, providing security teams with advanced tools for threat detection and response.
Jamf and Microsoft's partnership dates back to 2017, focusing on the support of Apple devices within Microsoft-centric organizations. Over the years, Jamf has integrated its solutions with a range of Microsoft enterprise tools, including Intune, Entra ID, Microsoft Sentinel, Defender, PowerBI, and Copilot for Security. This collaboration has been beneficial for customers who manage and secure Apple devices within Microsoft's infrastructure.
The announcement of these developments was made today, and more information about Jamf's integrations with Microsoft can be found on their website. Jamf will also be present at the upcoming Microsoft Ignite Conference, where attendees can visit booth #321 to learn more.
This expansion is based on a press release statement from Jamf, detailing their latest achievements and offerings in the realm of Apple device management and security.
In other recent news, Jamf, an Apple ecosystem management leader, announced steady growth and strategic alliances in its Third Quarter 2024 Earnings Call. The company reported a 12% year-over-year increase in revenue, reaching an Annual Recurring Revenue (ARR) of $635 million. Its non-GAAP operating income rose to $27.7 million, marking a significant 800 basis point improvement from the previous year.
Jamf also unveiled strategic partnerships with Microsoft and Okta (NASDAQ:OKTA), and the launch of a new Partner Hub, aiming to enhance product offerings and market alignment. Despite facing challenges in the soft PC market, the company remains optimistic about its growth prospects, especially in mobile and security solutions.
These recent developments also include a forecast of 7% to 8% growth in Q4. The company's projections for Q4 2024 revenue range between $161.9 million and $162.9 million, with non-GAAP operating income expected to be between $25.5 million and $26.5 million. Jamf's strategic goals encompass achieving 25% growth in security ARR and enhancing sales and marketing efficiency, indicating a clear focus on expansion in 2024.
InvestingPro Insights
As Jamf (NASDAQ: JAMF) expands its partnership with Microsoft and enhances its product offerings, investors may be interested in the company's financial performance and market position. According to InvestingPro data, Jamf's market capitalization stands at $1.96 billion, reflecting its significant presence in the Apple device management space.
The company's revenue growth is noteworthy, with a 13.85% increase over the last twelve months as of Q3 2024, reaching $615.07 million. This growth aligns with Jamf's strategic moves to broaden its product availability and deepen its partnerships, as evidenced by the recent Microsoft Azure integration.
Jamf's gross profit margin is impressive at 79.59%, indicating strong pricing power and efficiency in its core operations. This robust margin could provide the company with resources to invest in further innovations and partnerships, such as the Microsoft Copilot for Security plugin.
InvestingPro Tips highlight additional insights:
1. Jamf's revenue growth has been strong, outperforming a significant percentage of global competitors. This supports the company's expansion efforts and market positioning.
2. Analysts predict the company will be profitable this year, which could be a positive sign for investors considering the recent strategic developments.
These tips are just a sample of the 15 additional tips available for Jamf on InvestingPro, offering a more comprehensive analysis for investors interested in the company's prospects.
While Jamf's current P/E ratio is negative at -37.45, the company's strong revenue growth and strategic partnerships suggest potential for future profitability. As Jamf continues to leverage its relationship with Microsoft and expand its presence in the Azure ecosystem, investors may want to closely monitor the company's financial performance and market reception of its new offerings.
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