2021 Q2 Form 10-Q Financial Statement

#000162828021017415 Filed on August 20, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2021 Q1 2020 Q2
Revenue $86.24M $80.73M $62.26M
YoY Change 38.5% 33.68% 28.88%
Cost Of Revenue $19.34M $17.26M $13.63M
YoY Change 41.93% 14.96% 1.06%
Gross Profit $66.90M $63.47M $48.64M
YoY Change 37.54% 39.87% 39.66%
Gross Profit Margin 77.57% 78.62% 78.11%
Selling, General & Admin $60.13M $46.41M $27.31M
YoY Change 120.17% 38.25% 13.1%
% of Gross Profit 89.88% 73.12% 56.15%
Research & Development $17.20M $15.63M $11.95M
YoY Change 43.97% 23.85% 25.9%
% of Gross Profit 25.72% 24.62% 24.57%
Depreciation & Amortization $9.758M $9.780M $9.410M
YoY Change 3.7% 1.98% 67.14%
% of Gross Profit 14.59% 15.41% 19.35%
Operating Expenses $82.95M $67.66M $44.89M
YoY Change 84.78% 30.47% 14.34%
Operating Profit -$16.06M -$4.193M $3.744M
YoY Change -528.82% -35.32% -184.36%
Interest Expense -$167.0K -$55.00K -$4.690M
YoY Change -96.44% -98.85% -14.43%
% of Operating Profit -125.27%
Other Income/Expense, Net $0.00 $0.00 $36.00K
YoY Change -100.0% -100.0% -34.55%
Pretax Income -$16.53M -$4.466M -$923.0K
YoY Change 1690.9% -61.2% -90.83%
Income Tax -$63.00K $123.0K -$89.00K
% Of Pretax Income
Net Earnings -$16.47M -$4.589M -$834.0K
YoY Change 1874.46% -44.64% -89.13%
Net Earnings / Revenue -19.09% -5.68% -1.34%
Basic Earnings Per Share -$0.14 -$0.04 -$0.01
Diluted Earnings Per Share -$0.14 -$0.04 -$0.01
COMMON SHARES
Basic Shares Outstanding 117.9M shares 117.4M shares 102.9M shares
Diluted Shares Outstanding 117.9M shares 117.4M shares 102.9M shares

Balance Sheet

Concept 2021 Q2 2021 Q1 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $226.5M $196.2M $38.40M
YoY Change 489.8% 764.32%
Cash & Equivalents $226.5M $196.2M $38.42M
Short-Term Investments
Other Short-Term Assets $2.687M $2.325M $6.314M
YoY Change -57.44% -90.7%
Inventory
Prepaid Expenses $14.43M $15.01M $10.88M
Receivables $66.67M $75.88M $53.28M
Other Receivables $565.0K $600.0K $500.0K
Total Short-Term Assets $321.3M $299.3M $115.4M
YoY Change 178.34% 217.0%
LONG-TERM ASSETS
Property, Plant & Equipment $17.22M $16.78M $14.04M
YoY Change 22.64% 36.41%
Goodwill $541.9M $541.9M $539.8M
YoY Change 0.38% 0.38% 2.02%
Intangibles $189.0M $197.5M $218.4M
YoY Change -13.46%
Long-Term Investments
YoY Change
Other Assets $28.11M $28.90M $2.557M
YoY Change 999.41% 39.6%
Total Long-Term Assets $802.2M $808.7M $791.5M
YoY Change 1.35% 1.15%
TOTAL ASSETS
Total Short-Term Assets $321.3M $299.3M $115.4M
Total Long-Term Assets $802.2M $808.7M $791.5M
Total Assets $1.124B $1.108B $906.9M
YoY Change 23.88% 23.94%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.037M $5.744M $3.715M
YoY Change 143.26% 219.11%
Accrued Expenses $38.26M $28.13M $26.44M
YoY Change 44.71% 22.84%
Deferred Revenue $180.7M $167.9M $129.9M
YoY Change 39.16%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $228.4M $202.8M $161.1M
YoY Change 41.8% 36.94%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $201.9M
YoY Change -100.0% -100.0%
Other Long-Term Liabilities $29.08M $33.84M $9.084M
YoY Change 220.08% 5.09%
Total Long-Term Liabilities $29.08M $33.84M $211.0M
YoY Change -86.22% -85.53%
TOTAL LIABILITIES
Total Short-Term Liabilities $228.4M $202.8M $161.1M
Total Long-Term Liabilities $29.08M $33.84M $211.0M
Total Liabilities $319.6M $294.6M $414.9M
YoY Change -22.97% -25.86%
SHAREHOLDERS EQUITY
Retained Earnings -$113.3M -$96.81M -$78.47M
YoY Change 44.36%
Common Stock $118.0K $118.0K $103.0K
YoY Change 14.56%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $804.0M $813.3M $492.1M
YoY Change
Total Liabilities & Shareholders Equity $1.124B $1.108B $906.9M
YoY Change 23.88% 23.94%

Cashflow Statement

Concept 2021 Q2 2021 Q1 2020 Q2
OPERATING ACTIVITIES
Net Income -$16.47M -$4.589M -$834.0K
YoY Change 1874.46% -44.64% -89.13%
Depreciation, Depletion And Amortization $9.758M $9.780M $9.410M
YoY Change 3.7% 1.98% 67.14%
Cash From Operating Activities $34.00M $4.023M $18.28M
YoY Change 86.01% -154.7%
INVESTING ACTIVITIES
Capital Expenditures -$1.921M $3.290M -$330.0K
YoY Change 482.12% 216.65%
Acquisitions $3.041M
YoY Change
Other Investing Activities $11.00K -$3.030M
YoY Change
Cash From Investing Activities -$1.910M -$6.319M -$330.0K
YoY Change 478.79% 508.18%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.936M $4.019M -2.200M
YoY Change -12.0% -395.08%
NET CHANGE
Cash From Operating Activities 34.00M $4.023M 18.28M
Cash From Investing Activities -1.910M -$6.319M -330.0K
Cash From Financing Activities -1.936M $4.019M -2.200M
Net Change In Cash 30.16M $1.322M 15.75M
YoY Change 91.47% -113.55%
FREE CASH FLOW
Cash From Operating Activities $34.00M $4.023M $18.28M
Capital Expenditures -$1.921M $3.290M -$330.0K
Free Cash Flow $35.92M $733.0K $18.61M
YoY Change 93.03% -108.73%

Facts In Submission

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DepreciationAndAmortizationOfIntangibleAssets
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us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
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us-gaap Provision For Doubtful Accounts
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0 USD
us-gaap Share Based Compensation
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1575000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
156000 USD
us-gaap Increase Decrease In Accounts Receivable
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7316000 USD
jamf Increase Decrease In Net Income Taxes Receivable Payable
IncreaseDecreaseInNetIncomeTaxesReceivablePayable
278000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
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us-gaap Increase Decrease In Deferred Charges
IncreaseDecreaseInDeferredCharges
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IncreaseDecreaseInAccountsPayable
202000 USD
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us-gaap Increase Decrease In Contract With Customer Liability
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us-gaap Increase Decrease In Other Operating Liabilities
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1240000 USD
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NetCashProvidedByUsedInOperatingActivities
9515000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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2203000 USD
us-gaap Proceeds From Stock Options Exercised
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103000 USD
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
32375000 USD
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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us-gaap Interest Paid Net
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9262000 USD
us-gaap Income Taxes Paid Net
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411000 USD
jamf Offering Costs Accrued But Not Paid
OfferingCostsAccruedButNotPaid
2865000 USD
us-gaap Use Of Estimates
UseOfEstimates
The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities as of the reporting date, and the reported amounts of revenues and expenses during the reporting period. These estimates are based on management’s best knowledge of current events and actions that the Company may undertake in the future and include, but are not limited to, revenue recognition, stock-based compensation, commissions, goodwill and accounting for income taxes. Actual results could differ from those estimates.
us-gaap Number Of Operating Segments
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1 segment
us-gaap Number Of Reportable Segments
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CY2020Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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122317000 USD
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86238000 USD
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ContractWithCustomerLiabilityRevenueRecognized
49393000 USD
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111398000 USD
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ContractWithCustomerLiabilityAdditions
83845000 USD
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ContractWithCustomerLiabilityAdditions
61363000 USD
jamf Contract With Customer Liability Additions
ContractWithCustomerLiabilityAdditions
144346000 USD
jamf Contract With Customer Liability Additions
ContractWithCustomerLiabilityAdditions
108228000 USD
CY2021Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
238457000 USD
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ContractWithCustomerLiability
157282000 USD
CY2021Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
238457000 USD
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ContractWithCustomerLiability
157282000 USD
CY2021Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
270600000 USD
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RevenueRemainingPerformanceObligation
224100000 USD
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0.79
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P12M
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RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P3Y
CY2021Q2 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
3200000 USD
CY2020Q2 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
1800000 USD
us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
5900000 USD
us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
3500000 USD
CY2021Q2 us-gaap Capitalized Contract Cost Impairment Loss
CapitalizedContractCostImpairmentLoss
0 USD
us-gaap Capitalized Contract Cost Impairment Loss
CapitalizedContractCostImpairmentLoss
0 USD
CY2021Q1 us-gaap Goodwill
Goodwill
541850000 USD
CY2020Q1 us-gaap Goodwill
Goodwill
539818000 USD
CY2020Q4 us-gaap Goodwill
Goodwill
541480000 USD
CY2019Q4 us-gaap Goodwill
Goodwill
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CY2021Q2 us-gaap Goodwill
Goodwill
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CY2021Q2 us-gaap Goodwill
Goodwill
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CY2020Q2 us-gaap Goodwill
Goodwill
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CY2020Q2 us-gaap Goodwill
Goodwill
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303401000 USD
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FiniteLivedIntangibleAssetsAccumulatedAmortization
100523000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
202878000 USD
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306391000 USD
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FiniteLivedIntangibleAssetsAccumulatedAmortization
117370000 USD
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189021000 USD
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8500000 USD
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AmortizationOfIntangibleAssets
8300000 USD
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AmortizationOfIntangibleAssets
16900000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
16700000 USD
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GoodwillAndIntangibleAssetImpairment
0 USD
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GoodwillAndIntangibleAssetImpairment
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us-gaap Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
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CY2020Q2 us-gaap Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
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CY2021Q2 us-gaap Lessee Operating Lease Renewal Term
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P10Y
CY2021Q2 us-gaap Lessee Finance Lease Term Of Contract1
LesseeFinanceLeaseTermOfContract1
P4Y
CY2021Q2 us-gaap Operating Lease Right Of Use Asset
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22737000 USD
CY2021Q2 us-gaap Operating Lease Liability Current
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4826000 USD
CY2021Q2 us-gaap Operating Lease Liability Noncurrent
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22063000 USD
CY2021Q2 us-gaap Operating Lease Liability
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CY2021Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P6Y4M24D
CY2021Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
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CY2021Q2 us-gaap Operating Lease Cost
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1369000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
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CY2021Q2 us-gaap Short Term Lease Cost
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52000 USD
us-gaap Short Term Lease Cost
ShortTermLeaseCost
104000 USD
CY2021Q2 us-gaap Variable Lease Cost
VariableLeaseCost
441000 USD
us-gaap Variable Lease Cost
VariableLeaseCost
880000 USD
CY2021Q2 us-gaap Lease Cost
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CY2020Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
1200000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
2500000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
2600000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
2887000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
5422000 USD
CY2021Q2 jamf Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
9482000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
5347000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
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CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
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CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
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CY2021Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
3364000 USD
CY2021Q2 us-gaap Operating Lease Liability
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CY2021Q2 us-gaap Loss Contingency Accrual At Carrying Value
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CY2021Q2 us-gaap Loss Contingency Estimate Of Possible Loss
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2300000 USD
CY2020Q4 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
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CY2021Q2 us-gaap Net Income Loss
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CY2020Q2 us-gaap Net Income Loss
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us-gaap Net Income Loss
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us-gaap Net Income Loss
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CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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117909720 shares
CY2020Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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117649467 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
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102861475 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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102861475 shares
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2020Q2 us-gaap Earnings Per Share Basic
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CY2020Q2 us-gaap Earnings Per Share Diluted
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us-gaap Earnings Per Share Diluted
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us-gaap Earnings Per Share Basic
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CY2021Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2020Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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7778678 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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7778678 shares
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
16385899 shares
CY2020Q2 us-gaap Effective Income Tax Rate Continuing Operations
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CY2021Q2 us-gaap Allocated Share Based Compensation Expense
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CY2020Q2 us-gaap Allocated Share Based Compensation Expense
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us-gaap Allocated Share Based Compensation Expense
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us-gaap Allocated Share Based Compensation Expense
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CY2021Q2 us-gaap Effective Income Tax Rate Continuing Operations
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CY2021Q2 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2021Q2 jamf Effective Income Tax Rate Reconciliation Percent Annualized Effective Tax Rate
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us-gaap Effective Income Tax Rate Continuing Operations
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