Jamf Holding Corp. (NASDAQ:JAMF) Q1 2024 Earnings Call Transcript

Ian Goodkind: Yeah. Thanks for the question. So it did decline from 108% to 107%. And so when I look at Q4 to Q1, about 75% of that decline related to upsell. So it continues the same macro customer spending effects continue to impact that. In this quarter, we saw — in the trailing 12-month metric — or sorry, when we looked from Q4 to Q1, other 25% did relate to lost logos. That did relate to that January extra churn that we saw. But again, February and March came back and actually was better than what we expected. And just a comparison point because you asked Q1 of last year, when I look at that and the decline, 81% of that related to upsell, 14% related to down sell and then 5% related to lost logos. So in a trailing 12 months, lost logos isn’t really that big of an impact. And our competitors come and go, but we’ve seen them go some time being, and we’re excited about the things we’re seeing in our pipeline and in our second quarter.

Vinod Srinivasaraghavan: Okay. Great. That’s helpful. And then just in general, how did your business plan do this quarter? And are you seeing just more momentum now as that’s been out for a while now?

Ian Goodkind: Yeah. We’ve got 63% year-over-year with the growth in our business plans, which includes enterprise plan. So it continues to be successful. It has been something our customers have been asking for. They see the benefits when you combine management and security together, not just from a cost perspective, but they know that things just work together. And I did mention Routines a little bit earlier. That’s just something — we had our spring release and we announced all the different things related to compliance. And then we also announced Routines. Routines is a really interesting piece that’s just available in business plan. And it is something that is going to — or helps automate workflows and helps with collaborative tools.

So for example, if you see a device that you need to reset, well, this actually has an automated workflow for that and it actually tells you through whatever tool you’re using from a collaboration standpoint. So we see a lot of success there, and we’re really excited about that. And again, when customers have both management and security, we see our churn improve on those customers because the customer health is stronger.

Vinod Srinivasaraghavan: Thanks, guys. Appreciate it.

Operator: There are no further questions from the line at this time. I will now turn the conference back over to Jennifer for the closing remarks.

Jennifer Gaumond: Thank you all for joining us today. This is the end of the call. Have a good rest of your day. Thank you.

Operator: Thank you. That concludes today’s conference call. Thank you all for joining. You may now disconnect.