JAMF - Jamf reports Q1 beats announces $400M Wandera acquisition

Jamf (JAMF) shares are down 2.4% despite reporting Q1 beats with revenue of $81.2M, nearly $5M ahead of estimates, and EPS of $0.08, three cents above consensus.Recurring revenue increased 37% to $74.9M.ARR was up 37% to $308M.Non-GAAP gross profit margin improved from 80% in last year's quarter to 83%.Cash flow from operations totaled $4M with unlevered FCF of $800K.Acquisition: Jamf has signed a definitive agreement to acquire zero trust cloud security company Wandera for a total consideration of $400M, which includes $350M at the deal's close and the remainder to be paid in $25M increments in October and December.For Q2, Jamf forecasts $82-84M in revenue (consensus: $79.02M) and non-GAAP operating income of $5.5-6.5M.The full-year forecast excludes the Wandera acquisition and includes revenue of $335-341M (consensus: $333.92M) and operating income of $27.5-31.5M.If the Wandera acquisition closes in Q3 as expected, the company will add $9-11M to the full-year revenue.Press release.

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Jamf reports Q1 beats, announces $400M Wandera acquisition