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Organizations know they need to embrace mobile work more than ever before: Jamf CEO

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Dean Hager, Jamf CEO, joins Yahoo Finance’s Kristin Myers and Alexis Christoforous to discuss the company’s earnings, growth, and acquisition of zero trust security company Wandera.

Video Transcript


KRISTIN MYERS: Welcome back to "Yahoo Finance Live." Now, the Apple-focused enterprise management software company Jamf reported earnings after the bell yesterday. Now, losses narrowed from the previous year, while revenue increased by about 35%. The company also announced an acquisition of the security startup Wandera. Here to discuss more is Dean Hager, CEO of Jamf.

Dean, great to have you with us. So I want to start with that acquisition of the zero-trust security company Wandera. Now cybersecurity, of course, is top of mind. And we've been chatting a lot about it lately, of course, with that oil pipeline. How does this further your leadership in enterprise management along those Apple systems and really help you, as you navigate against some of those competitors, moving forward?

DEAN HAGER: Thank you for having me, and great question. What we try and do at Jamf is create consumer-simple experiences for people at work, giving them the mobility and the access and the privacy and performance and experience they need, while delivering enterprise-- the security and control and efficiency that they require. You can indeed have both. And by joining forces, Jamf and Wandera is going to be able to do that for our organizations.

ALEXIS CHRISTOFOROUS: Dean, I'm taking a look at the stock price right now. It's coming under some pressure. I know that you're going to be paying about $400 million in cash and debt for this company. You beat on both the top and bottom line when it come-- came to earnings, and you also offered a pretty upbeat outlook. Why are investors not pushing the stock higher today?

DEAN HAGER: I'll just say, well, first of all, the market's pretty interesting today. But I think it just takes a little time to consume the information. At Jamf, we posted our third consecutive quarter of 37% ARR growth. And you're right, we provided bullish outlook because we feel a lot of momentum right now.

We also announced that we surpassed 50,000 customers that we are serving, running Jamf on over 21.8 million Apple devices. So I just think it takes a little time to digest the information, digest the information about the intended acquisition as well, and all the value that that's going to create for our customers. Once they do have an opportunity to digest that, I expect good things.

KRISTIN MYERS: So I'm curious to know, given the remote learning, the remote work that we are all doing, even right now and the continuation of these hybrid models going forward, what investors can really expect in terms of growth going forward for you guys.

DEAN HAGER: We mentioned yesterday that we see a great momentum continued within the business. We feel good about our pipeline. The surge of effort that we saw towards distance learning last year, that is now becoming more just about the awakening of the importance of technology and education. And instead of people working at home full-time, we're starting to see some people come back into work.

But what will forever be different going forward is organizations simply know that they need to embrace mobile work more than ever before. And that's where Jamf specializes. It's where Wandera specializes. Making sure that people have the mobility with accessibility and ease of use with security no matter where they're working-- from home, at work, or a coffee shop.

ALEXIS CHRISTOFOROUS: As an Apple enterprise partner, Dean, there are certainly a lot of new products that Apple is going to be out with this year. Later in the year, of course, the latest iteration of the iPhone. But you've also got updates to the MacBook Pro, to the Apple Watch, to the pencil. I mean, we can go on and on. How does that impact what you do on the enterprise side? And how are you preparing for a slew of these products to come to market?

DEAN HAGER: Yeah, so Jamf grows as Apple gets more adopted within the enterprise. So we love to see Apple growth. But what we love to see even more is the enterprise accept the use of Apple within the enterprise, whether that happens to be a BYOD device or a device that they might be providing their employees. And that is what we are seeing change pretty significantly in the market.

There was an IDC study that was published earlier this year that said, in the US, with organizations of more than 1,000 employees, that the Mac penetration in those organizations in 2019 was 17%, and it was 23% in 2020. That's a six-point movement in one year. That is a clear statement that the enterprise is embracing Apple. And as the enterprise embraces Apple, Apple devices become a bigger target for security threats, which is one of the reasons why we're partnering with Wandera to make sure that we deliver both the experience and the security that the organization needs.

KRISTIN MYERS: A lot of exciting updates coming up ahead for you guys at Jamf. Curious to know if there's any further acquisitions or tools that you guys plan to add to that tool kit out up ahead that you might be able to give us a sneak peek about.

DEAN HAGER: Well, we just announced the intent to acquire Wandera. We said that we would likely close that in early Q3. So it's probably wise for us to finish that one first. But what we have enjoyed with each tuck-in acquisition we've historically done that delivers customer value, our efficient go-to-market engine combined with the customer loyalty that we have, we are typically very successful with those new product launches. And we expect the same when we add the Wandera products to our portfolio.

KRISTIN MYERS: All right, Dean Hager, CEO of Jamf, thanks so much for joining us today.