Jamf Holding Corp. (JAMF) Earnings Call Transcript & Summary

Okay. It looks like we have a quorum. I think our panelists are ready. So we will get started. Good morning, and thanks, everyone, for joining us for our first ever Jamf Investor Event. Before we get started, I wanted to cover some housekeeping items. We anticipate that today's prepared remarks will take approximately 30 minutes, followed by Q&A. [Operator Instructions] We'll get to as many questions as possible during the time allotted. Also, please note that this is a Jamf focused event and management will not be addressing financial results or related questions. Today's discussion may include forward-looking statements. Please refer to our most recent SEC filings, including our most recent annual report on Form 10-K, where you will see a discussion of factors that could cause actual results to differ materially from these statements. With that, I will now turn it over to Dean Hager. Dean?

Yes. Thanks, Jen. And for the record, I'm going to go ahead and predict right now, we'll come in at 36-ish minutes for our prepared remarks. Hello, everyone. Thanks for joining us for JNUC week in this special Investor Event. We've got a brief agenda. I'm going to bring what's left to my voice after this week to our brief agenda, gives you an opportunity to meet a few Jamf members and tell you a little bit about Jamf Nation and highlight what it is that Jamf Nation loves about Jamf and why we think you're going to love us even more after this week's event. But first, let's meet the team we have today. Most of you, of course, already know, Jill, our CFO, who I purposefully worked with longer than any Jamf executive; and Jen, our Vice President of IR; Jamf's COO and the person responsible for leading our team that brings in all the revenue. And of course, we'll follow up on the JNUC opportunities. John Strosahl is will with us. The co-creator or maybe even the father of our Jamf Nation website, which celebrated its tenth birthday this week, our Chief Customer Officer, Sam Johnson, is here; and of course, Wudi, don't call him Jason, our Chief Strategist is here. Of over 2,000 Jamf employees, Wudi is our longest 10-year Jamf. He knows all the stories. He was the very first employee hired by our founders. Next, let me quickly answer the questions. What is Jamf Nation and what is JNUC? Simply stated, Jamf Nation became a way of referring to our Jamf years ago, far before I ever joined. This evolved into a website that we use to connect the Jamf Nation community to each other for expert advice and directly connect them with Jamf and to other solutions built around Jamf in the market. Today, Jamf Nation is the largest online community of Apple Enterprise and education enthusiasts in the world. And JNUC is traditionally that physical gathering for this community every year, which started back in 2010, when Sam, Wudi and the rest of the Jamf team at the time, brought together about 100 people in the upstairs of a Minneapolis wine bar. Today, it has become the single largest gathering of Apple Enterprise experts in the world. And frankly, second place isn't even close. It's a strategic event for Jamf and also Apple. Over the past 3 years, our guests in the keynote have included Apple several times, Microsoft several times, IBM several times, Google [ SAP ]. Very few companies are able to present this kind of a lineup of major industry influencers year in and year out. Next year, thankfully, we'll be back in person hopefully in San Diego, and we're looking forward to that. But I have to say that the quality of this online event this year has been extraordinary. This week, we're offering 140 sessions across 9 tracks. In those sessions, we have 208 speakers. 125 of them come from that community, only 83 are from Jamf. So it's really these speakers are experts in Apple and Jamf technology from companies like Apple, Cisco and AWS. Their investment in time and providing excellent content to make JNUC possible, which is why over the last 2 days, we have seen over 13,000 registrations. And the average person over the last 2 days has attended more than 6 sessions. So even remote, they're very engaged. I call them the tightest community in all of high tech. That equals, by the way, if you're a statistician, for over 44,000 total sessions attended just in the last 2 days, but that's JNUC. And that's just the live attendance. All content is recorded, and we'll continue to reach others through the platform for the next 30 days. And as long as I'm [ telling ] on numbers, we announced 2 momentum numbers this week that I know some of you watch closely. We announced that at the end of Q3 of this year, Jamf now serves more than 57,000 customers running Jamf on approximately 25 million devices. I'd like to provide just a bit of clarity on that. These numbers now include both Jamf's customers and devices and also the new customers and devices that we gained when we acquired Wandera. Now of course, we subtracted out duplicate customers and devices that are running both Jamf and Wandera solutions. However, because we haven't fully integrated our CRM solution yet, these numbers are not as precise as they will be in the future, and we won't be breaking them apart at this time any further. But they are a good starting point for modeling going into the future. As a reminder, all Wandera customers and devices would fall into what we call the commercial markets as opposed to education. And approximately 80% of those devices in Wandera are iOS devices. Now one of our 140 sessions this week was our keynote address on Tuesday. It's an hour and 7 minutes, and it can be found on the Jamf website. If you haven't watched it yet, it's just a great way to see all of the Jamf solutions in a very tight window. You're going to notice a couple of different themes. First, we position our Apple Enterprise Management platform as connecting, protecting and empowering our company's workforce, which is simply another way that you've already heard us talk about our products, connect, protect and manage. Stepping through these 3 suites was our agenda for our keynote. But the 3 messages that kind of rolled through the entire presentation is our differentiation: enterprise secure, consumer simple, while protecting personal privacy. This is a completely unique value proposition in the market. Many security solution providers focus really only on 1 of these 3 things, of course, enterprise security. But Jamf believes that's the wrong approach. We believe that security solutions that do not take an employee's experience into account, well, those are going to be security solutions that are [indiscernible]. Employees would just use their unsecured personal devices as, frankly, I'm sure some of you probably do, to do as much work as they possibly can. And the result is a company that is less secure. Wudi is going to touch more on that in a little bit. But I first want to take a step back and answer a question that I frequently get from all of you or some of you. Why is Jamf so frequently selected over our competitors? And why is our customer loyalty so strong? And let me start with an answer that you already know, and that is about same-day. Now I don't know if you've noticed something this week, but our keynote was Tuesday, and we announced same-day support for macOS Monterey, which comes available next week. And we also announced support for Apple's entire new lineup of hardware with new chips that they announced the day before our keynote on Tuesday. The Apple special event was Monday. Jamf's keynote was Tuesday. Now we announce same-day a lot, but this year was a little bit different. Our Tuesday keynote was prerecorded, not only prior to the Apple event, it was pre recorded prior to Apple announcing that they had an event. That's how confident we are supporting the latest Apple technology. That confidence and our assurance is greatly appreciated by Jamf Nation. Now on this slide, let me give you a few other practical examples of how Jamf has specific differentiation that has led to the tremendous growth of Jamf Nation. Going from left to right. First in education, where Jamf serves tens of thousands of schools around the world, including 7 of the top 10 school districts in the U.S., with really no other provider having more than one. We empower well over 10 million students around the world to learn with Apple technologies. But we didn't achieve that success simply by offering MDM or security solutions. We get that, but we succeeded because we are one of the very few companies in the world that provide in-classroom robust solutions that give teachers control of their class. Standing in the front of class, teachers can [ lock ] screens with a message that says eyes front. They can monitor what their students are doing, respond to a virtual hand raise. And they can immediately make all of the icons on the screen of the student's device disappear, except for maybe the 2 that the teacher wants the student to focus on. This focusing technology from one iPad to another has been patented by Jamf for years. And we are one of the very few companies out there in the space. We really are only aware of one who is attempting to replicate portions of this. Our competition in education is fairly minimal. Most of the big MDMs don't really even participate in that market, which is one of the reasons why we had such a clear market share. Now it was the success in education that led us in the health care because of the [ learning ] hospitals. Now again, we knew simple MDM or security solutions just weren't going to be simple enough or good enough for the complex, highly regulated workflows of health care. As a result of what we built, we serve 14 of the top 20 hospitals in the U.S., including introducing new workflows during the pandemic that allowed hospitals like Alberta to go from near 0 to 10,000 secure virtual visits within 3 short months. We patented the virtual visits configuration workflow. But what really made it and all of our health care growth possible was our patented health care listener product, which came earlier and integrated to all standard electronic medical record systems to enable automatic actions with Apple devices based on events in the EMR, like a patient transferring rooms. It allows for health care personnel to do what they always do, just work with their EMR and focus on the patients. Jamf handles the rest, which is why patient bedside iPads and iPhones that use clinical communications, just work for them. I'm only aware of one provider in the industry who has attempted to replicate this, and they innovated with only one EMR and require an upgrade of that EMR for most of the customers. And this one competitor is not the same competitor I was talking about in the education space. Now our health care workflows eventually led us to create Jamf Setup and Reset apps, which were also patented, and applied to other unique industry workflows in really any industry. As an example, in this year alone, Jamf has sold approximately 100,000 iPadOS and iOS seats within the airline industry for airline specific workloads. I'm not talking about just general purpose devices. Of course, we do that as well. I'm talking about workflows like where pilots check into the cockpit and check out of the cockpit with their iPad as their electronic flight bag, receiving completely different content on that iPad depending on their location. There's no other company in the world that offers a solution like Setup and Reset. And when it comes to growth in iOS management, there's really only one other competitor out there that we're aware of that is growing in the space. And again, it's not the same competitor that I was speaking about in the health care space or the education space. And of course, the final example on the right side of the slide is the space we are best known for, Apple Mac deployment in the enterprise. And as you well know, 23 of the top 25 brands in the world use Jamf. But here's another stat that we've never shared with you before. Jamf is used for more than 60, that's a 6-0, deployment with organizations that have greater than 10,000 Mac. And we have multiple deployments of more than 100,000 Mac. Now to put that into context, if there are 10 other commercial deployments of 10,000 Mac in the world that don't use Jamf, I can't name them. I can only think of a few, but that's it. And I can't think of anyone who has done that, that hasn't done it with writing a fair amount of internal code within IT to make it happen. And certainly, I can't think of anybody that has approached the 100,000 Mac. Jamf has a ton of differentiation from apps that makes that possible because we've been doing it for the past 2 decades. This is our 20th year, by the way. We have more Mac inventory than anyone in the world. And our dynamic grouping patent allows Jamf to implement workflows using that rich inventory that no one else can accomplish. You combine that with our security patents and automatic action that we can take on Macs based on compliance and security simply can't be matched. When we think of competition from Mac management, there is again one company that comes to mind. And that company has near 0 capability in the other 3 examples that I've talked about. I hope this gives you a more clearer picture of what we do versus others and why there is really no one clear competitor of Jamf, why so many attendees every year wait to see what we're going to announce at JNUC, because that's where all of this capability got announced. And we think this year, our attendees are going to leave JNUC even more excited about our announcements. Now the best way to see all of our announcements is to read our press release or watch the keynote. That's probably the best way. But we thought the best use of our time today would be to reshape our keynote a little bit and pull out 4 specific items that not only changed Jamf's competitiveness, they significantly have already changed Jamf's addressable market. And we believe, as Jamf proceeds to win in these spaces, will be part of changing an industry even further than we already have. We call these 4 areas our market movers. And we're each on the line here are going to connect and tell you about one of them. Let's jump right into the App Mac, the app platform. Now why is this item a market mover? Because success in this area will dramatically grow the size of the enterprise Mac market. Let's face it. Most young people entering the workforce would prefer a Mac. All surveys show this, and we even have some recent survey data we can share on that. And many organizations to run Jamf, honor that employee preference. But many organizations still don't, probably some of yours. And there are a few reasons for that. One reason organizations cite is the lack of available applications on the Mac versus legacy Windows. But that is changing rapidly. In the past year, AWS has expanded their EC2 platform from app development, and Apple has launched Xcode in the Cloud. Both of which will result in more app dev for Mac and Apple. And additionally, with Windows 365, Microsoft is quickly moving Windows to be a streaming OS, which will provide Mac users the ability to run legacy Windows applications in their web browser. And about a year ago, with the new M1 Macs, they are not only more price competitive, but Macs now have the ability to run apps designed for iOS, substantially increasing the number of apps that can run on Mac and the motivation for app developers to build apps that are across Apple devices, including Mac. And of course, with Jamf, you can easily scope an app either for Mac or for iOS devices. Now where do the apps come from? For iPhones and iPads, you already know. The overwhelming majority of apps that are installed come straight from the Apple App Store, a process that Jamf facilitates more than any other company in the world. But the same is not true for Mac. The vast majority of Mac apps that run within the enterprise are not found in the App Store. They are provided directly by third-parties. This makes the job of IT extremely difficult because they have to monitor for all those sources to see what software hasn't been updated, unless they run Jamf. Jamf monitors for new versions of over 800 software titles. We're not aware of any other provider that even gets 100. And when we discover a new version of software, usually same-day because of our built-in automation, we validate it and then Jamf Pro could be used to create a policy to update employee devices. But even that over the years, it has been a bit more cumbersome than we wanted for our customers. So this year, we raised the bar on simplicity by introducing something called Jamf App Installers, which are a new capability that Jamf app [indiscernible]. Now I'm not going to go into greater detail here. You see a couple of screenshots on your screen that are kind of hard to read. But suffices to say that we have now brought App Store like simplicity to keep third-party software up to date for Mac users. It's simple for IT, using the screens that are on the right, and for employees, it just works. They're just updated. Not only will this capability improve the lives of users, it will dramatically improve IT support and also security. You've heard us repeatedly talk about same-days for Apple operating systems. Jamf App Installers announced at JNUC this year, lays the foundation to keep all Macs updated with same-day applications as well. All of this will eventually remove the application availability as a barrier to Mac world. And the platform will simply start to grow consistent with user preference, and that is a great thing for both Apple and Jamf. So that's the app platform. Another historic barrier to Apple growth in the enterprise has been the lack of security tools specifically built for Apple in an Apple way. But you know we've been doing something about that as well. So to take you through security as a market mover, I'm going to kick it over to Wudi.

Thank you, Dean. Good day, everyone. The first thing that I want to just kind of make this statement is that legacy security and the way that it has been layered over the Apple ecosystem over the years has not had a great deal of care about the privacy and simplicity of it. It has often been viewed in the past as a toggle where you get one or the other. And that world is changing. Employees have a choice. And even when they're not given the choice, there's a reality that any security model and program that's put in place that ignores the usability and privacy is in the end, security avoided. When we talk to CSOs today, when we talk to a number of individuals who are in the organizations who have been asking for Jamf to be able to help in this spot, adoption is one of the major issues that we look at. And it's been a request of our customers over the years to get to a spot where we could help. And we're working every day to make sure that our solutions can do just that. The security with privacy message and the story that I want to share a little bit of where we move together is actually the story of Apple Enterprise Management. It's when the whole platform is actually working towards solving the real problems that exist. And we believe no one product can deliver that alone. We see that true anywhere in the rest of the market as well. It's only when we start bringing it together, the Apple best, in a way that hasn't been done before. And the reason for it, and it's the right time for us to be able to do it is, the reality of the new world. I just mentioned, if employees don't like how it's done, they're going to find another way. How many times have the second iPhone that we carry, the work phone, the personal phone, and you pick up the personal phone to get something done, or the opportunity where I just need to forward that document or respond to that one message, and you're logging-on on your personal device, maybe the one where you're learner at home, your child or spouse or partner are actually -- they're working, you just need to get it done. And it sort of bypasses all of those controls or efforts that we put in place. And when we bring the full solution together, that's when we make it easier to do the right thing and include that privacy element and confidence for the end user that we actually get the result that we want and see the adoption that the security teams are looking for and expecting. The next statement that I would make is that we've been in this space for quite some time. I know the message and the tweak of it in our acceleration has certainly been more and more prominent. But we fundamentally believe that you can have management without security, but you can't have security without management. And we don't have one security product that actually claims or approaches solving this in one fell swoop. It's when we start with deployment and how we are able to take the policy and the controls that the organization desires and creates and actually apply them on to the Apple endpoint to make them really be true. And so we start with what Jamf Pro has been doing, whether it's the application of policy configuration encryption, how we handle Wi-Fi complex passwords and all of the other things. And even more so, when we've started to move into the hybrid environment where you move out of the office and all of the controls that were put in place, and we put more burden back on to the endpoint, our ability to know what's going on to deploy, configure, report and update, as well as all of the additional product and solution capabilities we've added through both organic and inorganic activity over the last few years. The types of things like multifactor authentication, using the biometrics that are built into the Apple device to make sure that that's secure, our microtunnel private access and encryption, and the continuous aspect of conditional access and how we apply it, malware detection. And because of what we provide from the management space, when we add malware detection or threat detection, we actually have the ability to do remediation. And it can lend us to our risk scoring in the ways that we would look at long-term behavior-based exploit detection, having an impact on any device that, that user actually has in their hands. And when we look at the full manner of what the Apple users need, we believe we are bringing solutions forward. It's our breadth and our depth with Apple. And it goes from any organization, a brand-new startup who is just needing to jump in and get running to the most demanding enterprise organizations. And it's sort of that story where you look at what's gone on in our adoption of the solutions we have brought forward. The early adoption has been outstanding of some of those new products that we brought forward in the last say, 24 months, and the abundance of customers who have been asking for us to be able to help, we have an opportunity. Dean talked about the customer numbers that are using Jamf to continue to solve problems. We have a very long runway where we can continue to innovate and iterate and offer solutions back to those customers before our go-to-market teams actually even bring another new logo into the door. And so that opportunity to listen, understand and iterate with our customers has been extremely valuable to the way that we continue to look and approach and put this together. We also are a little bit unique in the fact that we are not trying to switch everyone to be on a Jamf or Jamf-only platform and solution. We want to solve real problems, and we're going to continue to work with the solution providers that our customers have invested in. We're open to sharing and making sure that any insights that the customer has about their environment are theirs to choose to integrate into their security operations workflow, how they see fit. And we actually bring that consistency that the organization wants. And when I say consistency, I'm talking about the policy and control that they want on the Windows device and maybe the iOS device, all the way back to the Mac and in-between. We can actually make that work. But when we give the customer the ability to consolidate or actually utilize the information for their total view, we're going to continue to work. And you saw the announcements with partnering with Google, continuing to work and feeding the Microsoft Sentinel, our work with Okta and Ping to be able to feed their intelligence about what's going on. We're going to continue to invest in that way. And our journey in the security space is also part of it we see as an opportunity to influence and help with the customer's journey. And so we see the solutions that we create can be supporting the most demanding global and scaled enterprises in the world. But we also see opportunity to take a simplified and streamlined setup of those devices, those users and those configurations, and bring them back into our SMB market, the announcements about Jamf Now that Dean had talked about and was in the keynote, of making sure that, that tooling is available and very easy to get access to, and really couldn't ask for a better partner than Red Canary to come along anywhere in-between. So our most mature organizations and those that are just starting and when they want to take steps in-between, we have tooling to be available for them from the Jamf platform. We also have partners like Red Canary who can meet alongside and help them navigate to the next step at every stage, no matter where they want to be. And kind of the last element that I want to be able to touch on related to this as we bring it all together is we're going to continue to do it in an Apple best way. We continue to look for ways that we use on device security and leverage all of the frameworks that we're provided. We have the example that was in the keynote that we talked about, making sure that it was a priority for us and all of our customers, the private access works seamlessly along with private relay and the consumer options that Apple is providing to all of our users at the same time. And doing it that way means we have powerful friends that we work with at Apple. And they often recommend us because we try intentionally to make sure our solutions do not mute or reduce the value of what Apple is actually putting into the user's hands. And we want to continue to do that in every way that we see and make it a private priority going forward. I will say our individual solutions, you look at threat defense, private access, Jamf Protect, what we've done with Jamf Connect and continuing to look at data policy, in each of their categories and segments, we believe they are a leading solution. They provide compelling value and are very, very competitive across all platforms that they support. The thing that's different and that I want to kind of share about how we think about our vision as it relates to security in our continued effort there is, when we bring it all together in the Apple best way and we continue to offer it to our customers, we are ultimately removing barriers for the users and the organizations to deploy what they want. We continue to help. We continue to have opportunities to learn, be better and improve this solution. And we know we've got more work in front of us, our customers and Jamf Nation, the community that we've been with this week. I love the fact that they tell us every day exactly where we need to go, and we're going to continue to listen. The security, privacy, simplicity, it's not just company-owned and corporate-owned devices. John Strosahl and team talk a little bit about how we think about how this impacts a personal liability or a BYO Device and share a little bit of context there. John?

All right. Thanks, Wudi. Well, this is a market mover, the BYOD, that the go-to-market teams are really jazzed about, and particularly the sales teams. We talk about an $18 billion addressable market that we have. And a significant portion of that is BYOD, is people bringing their own devices into the work environment. But it's been hard to access to date because there hasn't been a great solution on the market. And if you look at what's been in the past, you could either -- the company can completely manage the device through MDM, which is great for the company because they can manage that device. But it's not so great for the user because everything on that device is then controlled by the company. They can wipe it. They can look at bank passwords, whatever they want to do on that device. And so what users do is they just tend to go out and get their own device. So then they have 2 phones. And you've seen this. I'm sure some of you may have 2 phones as well. But then what happens is you don't carry both phones all the time. Or you've got your personal phone configured to how you like it and you want to just check in on e-mail and things you do from your personal phone. Well, now the company is paying for a fully managed device that the user is not using and they're using their personal device -- to their personal device, a second phone actually, to access company resources. And so that doesn't bode well. The alternative was, in the past, to do mobile application management, which means that just the application the company would provide, the end user would install it. But then the company only had control over those applications, but that stop there. They couldn't do anything else. They couldn't help configure the Wi-Fi. They couldn't determine whether that device that was unsecured would access company resources or anything. And so that wasn't great for the user because they didn't get the help doing the things that they needed. And it wasn't particularly helpful for the company because they weren't able to help that user do what they needed to do. Now here's the sweet spot, the Goldilocks right in the middle. If -- with our product, with Apple user enrollment, being -- with Apple user enrollment being rolled out in conjunction with Jamf, that's really what is going to be the solution we think is going to help us address that market deeper than we've done so before. If the user goes in, they can actually go through their general settings. They can sign into their work or school account. And what then Jamf can do is we can actually deploy self-service on that device. And then the end user has the applications that are helped installed by the company. The company has access to the device to help do things like configure Wi-Fis and whatnot. But through app -- through the service discovery from Apple, it only identifies those work applications. And then with Jamf security on top of that with private access, we can secure the data going back and forth with those work applications. So now you have a personal device that the company has helped deploy the applications on there, can do some management that they need to service that end user, but they can't see anything else on that private device. The company now has something that they're actually willing to pay for because their data is secure. And the end user has the help that they need. And at the same time they have the privacy that they want on their personal device. So we think that, right there, is a solution that's going to help us address a good chunk of the market that's been very difficult to address up to now. But BYOD certainly is -- it's used somewhat in education, but primarily within corporations. We do offer that for both, as you can see here. But to talk a little bit more about the education, let's hand it off to Sam.

All right. Thanks, John, and I'll bring us home here. Education has without a doubt seen some mass of the device growth in 2020. It's very evident that digital transformation in this industry is active and happening at an expedited rate. But not only have we seen a strong demand for education technology to solve dilemmas that were introduced from the pandemic, but it also has opened the door to show technology in the hands of our students provide a better way of learning, regardless if students are in the classrooms, at home or wherever else learning might be taking place. And another way of saying this is just that we believe the market is -- it's no longer looking to provide solutions to accommodate learning for the pandemic. But really, they are simply now utilizing technology to foster modern learning and bridge that digital divide or providing student equity so everyone has that same opportunity for resources to achieve. That is why you see so much government backing and spending to support these efforts. You've heard us speak about CARES, [ DigiPac ], GIGA in the past. They are still very active multiyear government programs. It is important to note that the first step in all of these was to get devices into people's hands. We think that that's happening and no way done yet. But these programs continue to flourish. You see the Emergency Connectivity Fund or ECF, which is a directed reimbursement program currently happening. But much of all this past attention to these programs has been around getting devices into people's hands and connecting students to learning. It's also important to look at what the next steps are after the devices are in their hands. The next phase is obviously going to be focused more around the usage of devices, ensure students are provided access to a world of information at their fingertips. And with this, access comes in the areas of the Internet that are not necessarily conducive to learning. That is why the same federal government -- the governments that are providing these funding programs are also instituting regulations, such as CIPA, mandating that schools have solutions which offer student safety. However, it's not just content filtering that student safety address. Many of the recent definitions of student safety are geared more towards in being inclusive of cyber attacks and other malicious threats, as shown by the current K-12 Cybersecurity Act in the U.S., which has gained some attention in the news recently. Once again, federal governments, they're providing heavy funding to enable digital learning and they're using legislation to enforce acceptable use. And that's why we are extremely proud to announce this week that Jamf will be offering a student safety solution called Jamf Safe Internet. This is an education focused content filtering and threat defense product, which can implement acceptable usage and data policies. And it also offer protection both on the device and the network level of security that we believe schools need. We do anticipate launching this in the first half of 2022, which many of you know is well aligned with the standard fiscal year for many Northern Hemisphere school districts. The fact is that this not only is a great stand-alone product, it also provides us a fantastic cross-sell opportunity to the many thousands of our wonderful customers who trust us to serve them today for management. Hence, we believe that this is the right solution at the right time to ensure we continue to fulfill our mission and provide additional value to our current and future customer base. Obviously, a lot more detail on the technology behind this. And all the prior mentioned topics was held in our keynote in the sessions throughout the week. You all have access to that, and I highly encourage you to see more there. But in any case, I hope these prepared remarks were able to give you a better understanding of the market opportunity Jamf has in front of us. Dean, I think we're just -- we're landing right about at 36 minutes, maybe give or take a minute. But with that, I'm going to hand things back to Jen for some Q&A.

Thanks, Sam. Now we'll go on to Q&A. [Operator Instructions] We'll try to get to as many questions as possible during the time allotted. Okay. Our first question is for Dean. And this comes from Josh Reilly from Needham. You mentioned in the keynotes, Connect has over 3,500 customers, Protect roughly 1,500. Has adoption been evenly spread between SMB and enterprise? And how will the new preview versions of Jamf Now impact respective adoption going forward?

Thank you for the question. You're right. We announced that we're up over 3,500 Jamf Connect customers, up over 1,500 Jamf Protect. It's worth noting that over 1,000 of those Jamf Protect customers have come since the release of the M1 chip by Apple. That was just a great event for us to be able to showcase some of Jamf Protect's differentiation. I would say that the split between enterprise and SMB sales there mirrors what we typically do with Jamf Pro as most of those products were additional add-on sales for Jamf Pro. But you did pick up on a very short part of the JNUC keynote that said we're going to add key features from Jamf Connect and Jamf Protect to Jamf Now. And in the classic Jamf Now simplicity, all the user will do, they won't consider it implementing another product. There is simply a toggle switch where they will toggle on Jamf Connect, and therefore, be able to use their cloud identity. And they will toggle on Jamf Protect, and they will be able to get malware protection. And that will come at a premium place with Jamf Now, where you have certain features that are available for the sort of entry standard Jamf Now, and then we are packaging up for more premium version of that. Now I do expect that, that will result in even greater SMB, especially on the S side deployment of those solutions. But they won't think of them as deploying new products, they'll just think of them turning on functionality.

Great. Thanks. Our next question comes from DJ Hynes from Canaccord. I'll hand this one over to Wudi. User conferences are a great forum for customer feedback. And clearly, no business is perfect. To that point, in what areas did you get feedback that Jamf could be doing better? And what are customers asking for next?

The one thing that I will say we are very, very fortunate is that we have a passionate customer base who doesn't wait for user conferences to tell us exactly where we need to improve. And the Jamf Nation user community and kind of what goes on there is a fantastic spot where we get the good, the bad and the sometimes passionate discussion about what we need to be taking on and continuing to move forward with. So I do miss the in-person elements of being able to find a number of those individuals and look forward to doing that in the future as we come to the events, and kind of the hallway track of JNUC is really, really hard to replicate, especially from a product perspective. But if we think of what our customers are asking us for and kind of continuing to push on, it's -- I'm going to say a lot of things that we have as goals, and we're kind of starting to see some of the milestones come out. They want to see an easier way to get it -- take advantage of the rest of the technologies that we're putting out front and consolidating or bringing some of the management administration and kind of ease of deployment of those tools forward, as well as talk about after a while, easier ways to take advantage of them. And some of the things that John would talk about is how do they acquire them, how can they continue to take advantage of the tech that we continue to put out there. I also will say we long been pushed on and appropriately so, but we wanted to make sure we take it right, the discussion about the app installers that we had. It was a very quick portion when we were talking about Jamf Pro. It's been something that our community has been adamant that we need to be better at. And we've known that, but that is a very complicated problem to make sure that we do the right way so that they can reliably, credibly and in a secure way rely -- use what we're actually putting out front. And we didn't just want to throw something at the wall to see what's stick, and we believe we've landed on the right mix. And as we see and continue to see the beginnings of those app installers and kind of look at our trajectory of what we've done for titles and making those administrators' lives easier, we're excited to continue to innovate in that area. And then I would say you almost have to jump in and look at it based on who the people are that we're starting to intersect, right? The Jamf of legacy may have been just the IT administrator who is in front of one of our products. And now we have a whole family of personas and users. They all have, I'll say, fantastic and passionate feedback about where we need to improve in those areas as well, whether it's security operations, whether it is procurement, whether it is in the asset discovery and continuing to move, there are teachers. Each of those areas is going to continue to get focused in as we get better and actually focus on unique value for those users in our ecosystem.

Great. Thanks. Our next question, this is for Dean. This comes from Koji Ikeda from Bank of America. You talked about some lead competitors in the 4 [ box ]. Is the lead competitor the same across industries? And what are the 1 to 3 key reasons why Jamf gets chosen versus those lead competitors?

I'm the first to mess up. I was under -- okay. So yes, the lead competitor that I talked for each of those 4 different examples was a different company. It is very difficult for really any company to try and get to the level of depth that we have in each of the industries that we focus in. And so generally speaking, like our toughest competitor in Mac management is not our toughest competitor for iOS BYOD, for instance. Our toughest competitor in education is actually not our toughest competitor in health care. So we generally will see a cross-platform provider who's decided to focus in on an industry. But I've mentioned before, when it comes to competitors, there's really 4 companies that Jamf thinks about most often, and 2 are smaller providers who have -- are pursuing, replicating what Jamf has done. And so they're going to challenge us to keep innovating at the pace that we are. And we think that's awesome because they validated the market that we're in. And then 2 of the competitors are sort of remaining to UEM sort of management. That also have a platform, a full security platform behind them as well. And the way that we compete against them is both through our Apple focus, our same-day and being able to handle these complex workflows that I've been talking about, that, again, the health care workflow, the education workflow, the transportation workflow. They choose us because nobody else can handle those workflows.

Great. Our next question comes from Pat Walravens from JMP. It's great to see the 25 million device count. How do you think about the total device opportunity that exists? And how do you see it growing over time? I'll probably hand this to Dean and Jill for this one.

Yes. I mean there's hundreds of millions of enterprise employed Apple devices out there. That's how I refer to them as enterprise employed, meaning it could be owned by the corporation, it could be owned by the user. But they're being used to access enterprise resources, and they're being used to do work. And to John's point, historically, we could have competed for the BYOD devices just like everybody else did. It just wasn't strategically our highest priority because the choices on the ability to deploy BYOD devices, we just thought were rather poor. I thought John did a great job of kind of explaining why. And as a result of that, nobody really wanted to pay for that capability. With what we have now, combining user enrollment and service discovery and our private access capabilities, we think we have a really compelling solution for those devices. So I now consider all of those devices that are enterprise employed, no matter who they are owned by, to be right squarely in what we strategically want to do. But I will refer to the number of devices as hundreds of millions. And we, of course, as we mentioned, have approximately 25 [indiscernible].

And I would just add that the -- our continued expansion of the industry-specific workflows that we're creating allow -- gives us more capability to go out and touch and win more and more of those devices. And we're continuing to see high growth rates across all types of devices, but we're consistently seeing greater iOS attraction in recent quarters. That's where we see a lot of that -- those workflows are going to really stick under those products, those devices.

Great. Our next question comes from Sterling Auty from JPMorgan. What is happening with life cycle management for devices in the enterprise as we move to more hybrid work setups?

I spoke to that a little bit. As it pertains to a more hybrid environment, I mean, obviously, you're talking about keeping apps up to date now, whether they're built internally or whether they're through app store or third-party over cell signals and whatever the connectivity might be. So security comes to mind. Will let you anything jump out at you there, that the hybrid environment brings a more acute focus that we need to take?

The 2 things that come in, if I look at it from the actual hardware and hardware adoption, there seems to be, maybe it's just my own coworkers at Jamf, less of a tolerance of the long shelf of the device and the desire and need to have, hey, I've got one device on my desk. I'm at home. I'm traveling. I need it to do what I need it to do. And so just the desire to choose the Apple device and continue to refresh the M1 cycle, all of those has just really been -- there is a lot that comes from it. But then the secondary piece from the business that we're in is really about how much pressure gets put back on the endpoint from everyone else asking questions of it. So the typical layers of security or management or technology that were applied that were office-based or perimeter-based or change, and I actually thought, Brian, the CEO from Red Canary, talked about the fact that the coffee shop is the new standard configuration for the home office setup, and you have to start with that in mind. And I think it's starting to influence buying decisions about what hardware you choose, what software stack you run on it, and how you're going to work with your vendors to actually get that data to come back together. And really, that's what we've been pointed at as we continue to look at it. And so kind of that -- the follow-up question of, well, what opportunities does hybrid and the kind of what we see as a persistence of choices in kind of mixed environments as we go forward? All of those areas are you can see from our road map and what we've talked about this last week have been point of emphasis and point of investments for our product portfolio.

Yes. And I just want to reiterate that, I mean, the last year has been crazy with app announcements. The fact that you can develop them once and run them on iOS and Mac, AWS has come in with announcement, the Xcode announcements, the Win 365 announcement, all of that has been in the last 365 days. And I believe all of it is going to result in a boom of apps for Apple. And -- because, frankly, all the developers right now, I mean, they're using Mac now. If you take a look at the technology companies out there that develop apps, Mac is the chosen platform, and that is going to have many years of transformation.

Great. Our next question comes from Matt Stotler from William Blair. You officially announced Jamf Private Access and Jamf Threat Defense during JNUC this week. Can you give any color on initial interest from customers and conference attendees and thoughts on the cross-sell opportunities from a high level? John, if you want to take that one or maybe Dean to start?

Well, I'll say one thing while John takes himself off mute. I will give one data point, and that was the gentleman with Jeff now that presented the private access presentation, he got out of the presentation and he slapped me immediately and said, 450 attendees to my private access presentation. And I was like, yes. That's all right. These are now historical. And by the way, they're competing with several other presentations. So that was excellent attendance. John?

Yes. We're still -- of course, we're still gathering data as the conference is going now. But the reason why we developed these products is because we did listen to our customer. And to the extent you can use Jamf Unlock and with majority of the IT questions coming in being about passwords, for example, what better way to smooth that friction out then by releasing this technology and making it just easier within the company for the users to do the work.

Great. Our next question comes from Gregg Moskowitz from Mizuho. This one probably to Wudi and probably John. Will you be actively pitching Jamf Private Access as a VPN replacement going forward? Also, do customers need to deploy Apple's Private Relay alongside Private Access in order to derive significant business value?

I'll take it. Real quick is, yes. And the reason for -- yes, on the VPN...

On the first question, on the first question.

Okay. So the example of the use case of Private Access for better security, the user experience, battery life, the ability to use it across all the platforms that are out there, do we believe that it is a sole replacement? No, there's still VPN use cases that absolutely exist. We believe that the offering that we have gets to a user and the organizational security risk footprint in a way that nobody else can actually approach when you start looking at what you can do with the Mac, with an iOS device, with an Android device, with a Windows device, anywhere they are, and apply the conditional access and the rest of the intelligence that we have out there. Refresh me on the second that I apparently missed.

I'll comment on it. It was, do you have to run Private Relay along with Private Access? And the answer is no. You can just run Private Access. Private Relay is entirely the consumer's choice of whether to turn it on, as I have. I mean this is my wallet/iPhone. But of course, I run everything Jamf on here. I'm running Private Access for security to do my work and Private Relay for privacy as I'm browsing the web all the time. And I don't notice it, which is really the awesome thing about how they work.

Thanks. Our next question for Dean is from Raimo Lenschow from Barclays. Now that we are back in the office and see how dated our machines here are, could this trigger another upgrade wave and help greater Mac adoption?

Yes. I tell you what, I'm going to -- Sam, you were just talking about what you think it's going to do with that consumerization of IT. What do you think is going to happen there?

The short answer is, yes, there is a lot of wave of devices coming in. I took the part about the education. But I think largely the same thing is happening in enterprise. And the reality of it is that people working at home has opened up a door that is much broader than just like how they're doing their work. They want to work more like their at-home experience with technology. That's the environment that they're in most of the time. And ever since the beginning that we started talking about this, we talked about this great consumerization of IT. And that's what you'll see that Jamf products really bring to the light, is that we bring solutions that provide enterprise resources, that end users can't differentiate the difference between what the enterprise is doing and what they would normally do for themselves. And that extends to the application life cycle. That extends to the security. That extends to everything that they need from IT services. So as people are going back to work, I think a lot of that same experience that now they've had working from home will be expected. And you'll start to see the M1 waves in a lot of these other more modern technologies come to light. And I think that that's evidenced by the growth of Apple devices in enterprise compared to the other platforms that you see out there. All the devices are growing, but Apple seems to be growing at a faster rate.

If you combine 3 things: the demographics, the young people coming up pursuing -- or preferring Apple, preferring Mac, combined with everybody working at home for 1.5 years and decided, Raimo, to your point, that they want that experience at work. They don't want what used to be the work experience at work. And these hot, I shouldn't say hot, I should say cool because they don't get hot, our new Apple M1 Macs that was announced, I saw one article say, I don't know how to assess hardware anymore because Apple is breaking the price performance curve that they've traditionally looked at. It is a disrupting machine that is still less than a year old. Yes.

Okay. Great. And the next question comes from the buy side for John. Are there any plans to create additional product bundles like Jamf Business Plan, especially with the new Private Access and Zero Trust -- in the Zero Trust products?

I guess the short answer would be yes. We've created the Business Plan as a result of talking to our customers and listening to what they would prefer. We want to be -- Jamf wants to make it easy to become a customer of Jamf and also to stay a customer of Jamf. And if you've got your functionality within a common product that you can unlock throughout or have all at one time, it's certainly much easier than going through all of those specific motions on an ongoing basis. And so one of the things that we've seen traction with Business Plan is that when we're going through the sales motion and we're talking to a customer, and they want to get -- they don't have to go through approvals internally and things like that if they can get it all at one time, it really makes it easy to access the entire functionality that we provide. And so we'll continue to add pieces and parts in there as our customers would like.

Great. We have time for just a couple more. Wudi, this one's for you, coming from Matt Stotler from William Blair. You touched on this a little bit in your presentation, but how important are the Android OS and all non-Apple OSs in the future and the long-term vision for Jamf?

So I would say that there is -- in my time in working at Jamf, there has never been an organization that is only running Apple. There is always another device, another platform, another solution. Even at Jamf, we have situations and people who work in certain roles where that app isn't available, the solution, right? So there is always a mix of how you approach that. And we see that the closer to the end point, we want to be better suited to make sure that the Apple experience is preserved. So on the device with the user, that's the most important thing to us. And we're going to continue to make sure there's an Apple best. And as you move back towards where there is network, network access and how the user actually intersects with the rest of the organization, we see that there is absolutely room and need to make sure that we have those other platforms and other endpoints in the family. So they are strategic to our business. But we will continue to make sure that we invest, that we have a great experience there, but the best will always be when the user puts an Apple device in front of them, we want to continue to make sure that, that differentiation is clear and known. I hope that makes sense.

And we'll do that because our purpose ultimately is to empower people within enterprises and schools with wildly simple-to-use technology that also -- that allows them to be their best. And we just think that, that is best done on Apple. And we'll support other devices as it is needed to achieve that mission. But that's the mission and that's the purpose, which is why we do what we do.

Great. Thanks. Well, we've run right up on time. I'll turn it back over to Dean for final comments.

Yes. So I was in the middle of most final comments. I once said on a recent earnings call that, yes, our mention is to help organizations succeed with Apple. But our purpose is to empower people by changing the way work is done. It's that simple. We want to change the way that work is done. And the best way to do that is to start with the most productive device that they can be using and then work up into the enterprise. And that's what we did with Apple, in running management on it and expanding out through Connect and protection and into the network, now of course, with the solutions that we acquired from Mondada and have now launched Jamf Private Access, Jamf Threat Defense and Jamf Data Policy. Ultimately, it's all for the same purpose, to change the way work is done over the next 10 years, we believe, that we do that. And Apple continues to come out with just unbelievable technology on the device front, that we will transform the enterprise and also our schools with the devices and the technology that allows people to be their absolute best. That's what I believe is going to happen and that's what we intent on doing. So thank you so much for joining us. I've been just amazed at seeing the participant on count just stay there on the entire hour. So congrats to you on staying with us. I appreciate it. And I'm looking forward to speaking with you again soon.

Great. Thank you. And as a follow-up, we will be hosting our Q3 Earnings Call on November 11. That announcement will go out today. So hopefully, we can reconnect with everyone then. You may now disconnect. Thanks for joining us.