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

Okay. Good morning again, everyone. Thank you so much for joining us for our second ever JNUC Investor Event. We're really glad you're here, both in person and those of you joining us on the live stream. I hope you've all had a chance to sit in or listen in on all the great sessions that we have posted this week. For those of you I haven't met, I'm Jennifer Gaumond, I head up Investor Relations at Jamf. A few housekeeping items for those of you in the room. There's breakfast right outside these doors, please help yourselves. Also, the restrooms are down at the very end of the hall outside of the room here. As I mentioned, we are livestreaming this event. So we will have q&a the end. I would ask to just make sure that you -- when you ask your question, use the microphone better than I am right now. We expect the run time of the event to be probably 30 to 40 minutes followed by that live Q&A. And Andrea, who is over there in the black shirt, is your point of contact if you need anything during the rest of the event. So let's get started. Today, we have the full Jamf leadership team. You'll hear from speakers. So Dean, Ian, Linh and John, who are over on my left. And then for the Q&A portion, we have right, in the A+ section, Sam, Beth, Jeff, Michelle and Wudi. So they will -- the full management team will be up here for Q&A. So feel free to ask questions of any of them during that time. So here's the plan for today's event. Dean will kick us off and talk about our transformation since the IPO, which is pretty significant. John will then highlight JNUC and how it's become the premier event in our space. And then Ian will walk through our view on the market and market opportunity and the numerous paths of growth that we have. And then finally, Dean and Linh will talk to our vision and highlight some of the innovations that we launched during this week's event. Before we begin, as usual, today's discussion may include forward-looking statements. Please refer to our most recent SEC reports for a list of risk factors. And with that, I'll hand it over to Dean.

Thanks, Jen. Appreciate it. Welcome to JNUC. I guess this officially makes you part of Jamf Nation, I suppose. JNUC stands for Jamf Nation User Conference. And Jamf Nation is a way that Jamf refers to our customers, but it's really not just our customers. Jamf nation is the largest online community of Apple enthusiasts, Apple IT admins and Apple security experts that exist in the world, which makes our annual JNUC the largest in person and because we're hybrid, online gathering of Apple IT admins and security experts in the world. Those that are not Jamf customers will sometimes come to JNUC to learn more about administering and securing Apple within an organization. I know for a fact that we have some organizations here this week that are not our customers and that are likely leaving -- considering becoming a customer because of the energy that some of you in the room have already told me you feel at this event. I've described it before as a Mac-like loyalty. If you're familiar with how people -- loyal people are to their Mac. A Mac-like loyalty that we have amongst our customer base, and I think those that have attended in person to see that. I forgot to grab that clicky, Jen. Thank you very much. We've also gathered our leadership team. As Jen mentioned, we're going to fill this stage in a little bit, to be -- to answer your questions and be as transparent as we are. We even brought Jeff, our Chief Legal Officer, to tell us not to answer questions when you ask them. We had our very first earnings call after being a publicly traded company 2 years and 29 days ago, on September 1, I believe, was of 2020. And what I want to do is just share a little bit about what our journey has been since then. We're a very different company today. Believe it or not, we're obviously much larger. We're stronger, financially healthier. And we have way more as you'll discover in just a little bit, opportunity in front of us as a result of what we've done over the last couple of years. So let's start with what is most important. I mean after all, we're at JNUC. Jamf now serves 69,000 customers running Jamf on over 29 million Mac, iPad, iPhone and Apple TVs, and that just doesn't happen. I mean there's only 2, maybe 3 companies in the world that can boast of numbers anywhere near this. And Jamf got here in a very different way that some other organizations did. We did not get here by going for the mass easy to manage or administer devices. Jamf got here by doing what's hard. We took on the hard use cases that are out there with Apple, so that we are actually solving problems for our customers, which is really good from a pricing perspective. But far better from a customer loyalty and stickiness perspective. And that's what you're seeing here at JNUC, we're actually solving problems for our customers. Now how did this come about for nearly 50 years and those that attended the general session, I spoke of this a little bit for nearly 50 years, Apple has been maniacally focused on the individual, providing personal technology, music, now TV and movies, and they have been consistently focused on the individual and it is so inspired Jamf to embrace Apple technology to focus on groups of individuals or sometimes I'll say it, Apple focuses on the person, and Jamf focuses on the people. And we do so with a purpose and the purpose is to simplify work. And every once in a while, we get asked, "Why Apple?" And if your quest in life was to make work consumer simple, what technology would you embrace to do that? I think we can all agree that Apple is not only a consumer brand, but they are known for their simplicity and it's one of the reasons why we embrace that. Also, to be clear, in nearly 50 years, Apple has not shown interest nor product nor frankly, any expertise in providing enterprise solutions. The arrangement of their focus on the individual and building frameworks on which enterprise solutions can be built like Jamf's has served them extraordinarily well and they are on a fast path to become the dominant endpoint device in the enterprise without providing enterprise solutions. It is extremely good for them to be the user's choice and that is what they're ultimately focused on. We, Jamf, have now existed for over 20 years, and we have maintained that focus the entire time while expanding our product line and solving more problems. Just a quick statistic of those 69,000 customers, that number has doubled since the last time we had JNUC altogether, which was in 2019. This -- we've now been public for 9 quarters. And in the time since we've been public, we have added 30,000 customers, 12 million devices and 1,200 employees, which is evidence of our investment into our growth in the future. None of the 9 quarters that we've been public, have been normal. Let's -- it's been a weird couple of years. We're either going into a pandemic or we're in the pandemic or we're coming out of the pandemic or we've got a tough year-over-year comparable in education or we're moving into a recession. Or are we moving into a recession? Every quarter has been something new, yet Jamf has beat every single quarter. We've had excellent revenue growth every single quarter and excellent free cash flow every single quarter. Not only have we worked on a transformation within Jamf, we have proven extremely resilient and consistent and reliable in what we predict we're going to be able to do in the future. So let's talk about that a little bit on the consistency. The left chart that you see -- that is our year-over-year ARR growth every single quarter. This would be the one type of chart that you like -- where you want to see a really nice flat line, right, because it's just been really consistent delivery. And one of the things that we've always said about our ARR growth is it's been growing well in every major industry we're in, with every major product that we offer and in every major geography. Diversity is our friend. But the one area that stands out, particularly because of what happened with the pandemic is when you look at the education market versus the commercial market, and that is the slide that you see on the right. Prior to the pandemic, when we first went public, our ARR growth in commercial markets was 50%, and our ARR in education was 18%. That is pretty -- that would describe our history. If we would have met with any of you during our testing the waters prior to being public or even the non-deal roadshows early on, we would have described our business much that looks like you see on the left side of that education versus commercial growth. Then the pandemic hit, and Jamf is very flexible in the opportunities that we're going to be able to pursue. We have the ability to adjust. And we saw a significant opportunity that was occurring with education. And so we adjust it. And as a result, kind of at the peak of the buying within education, those growth rates have gone to 38% for commercial and 33% for education, still a gap, but certainly narrowed. And then all of a sudden things started coming out of the pandemic actions, and we've gone to the most recent quarter of 53% growth in commercial and 16% growth within education, kind of back to the normal rhythms that we were seeing before. So again, diversity in this case is our friend and it's one of the reasons why we're able to be resilient. But because of the rapid growth that we've had in commercial versus education, you can see on the left side of this slide that we have been having a larger and larger percent of our business coming from the commercial side. Now up to 71% of our ARR is from commercial business. That's a great thing when the larger component of your business is also the faster-growing component of your business. And so the more that happens, the better because not only is it the faster growing, it's by far the largest TAM that exists out there, our total addressable market for us. And one of the reasons it is, it has been because of our investment in security products. You see on the right side of the slide, in our -- with our ARR in our S-1 when we first filed what would have been data from Q1 of 2020, of that ARR at the time, which I believe was about $224 million and change, about $5 million was from security products. In our most recent quarter, we announced that it was 18% of our total ARR from security products. Just by math, that tells you it's now up over $80 million business now in just a 2-year period of time. Most of that has occurred in commercial markets. Now one of the reasons is if you take a look, for instance, at our product line, this was the product line that we had at the time that we went public, management, connection and protection. But connection and protection, each only had 1 product in it at the time called Jamf Connect and Jamf Protect. Now you notice management has 3 products. Nobody buys all 3 of our management products. In fact, nobody buys 2 of our management products because they're each intended for a different market, right? Schools, pretty self-evident what market that's intended to, Now is for the small business space. And then Pro is really that professional, robust management solution that can be used in any industry, but they're all intended for a different market. But the security products, Connect and Protect, well, that could and has been purchased, you buy both of those products. And as our product line has been growing, that is continually being the case. But at the time that we went public, Connect and Protect, they were Mac only, and we have been growing that product line ever since. So now as you look at our product line and you just look at management and security, management still a customer is only going to buy one of those. One customer might buy all 5 of our security products because each one solves a unique, interesting problem. A Zero trust network access, cloud-based next-gen VPN. That is a very specific need, okay? Antiphishing, antimalicious download that comes with Threat Defense, a very specific need. Data policy for filtering out, so you have appropriate use of device, a very specific need. So each one of those solves a different problem. However, they all still fit, that entire product line still fits really into either management, which is getting a device to be fit for use or connection, which is all about making sure that the right person is getting access to what they should securely, or protection, making sure that there aren't threats out there against the device or the person. But that column off to the right that says completion or complete. Just I want to explain that just a touch because it's something that Jamf does that really nobody else does. We sometimes refer to it as going the final mile of the enterprise solution. Within the education space, we don't ever go in and talk to schools about just securing their devices. We go in and talk to schools about how a teacher is going to interact with the student to improve what happens in the classroom so that there can be greater student learning while there is student protection. When we go in and talk to healthcare, we talk to them about the patient bedside iPad workflows or using iPhones for clinical communications. When we go in and talk to, you heard from American Airlines, those that watched our keynote when we went in to talk to them, we talked about the flight bag for the pilots in the cockpit, okay? And then the protections that you would want to have within that cockpit. When the pilot is flying, you don't want distractions for that pilot as well. So it's really, it's industry-specific solutions. When it comes to app devs, for instance, we are the only ones that have the partnership with AWS that we announced last week and we showcased here at JNUC. These are taking the final mile of the trip to really make our solutions for these customers very, very robust. And the way that we kind of shaped up JNUC, again, for those that attended the general session, we had so many products that I just wanted to simplify for a moment what it is that we do. And so I ask 2 questions. So do your users, your employees, love their work technology as much as they love their home technology. And I'm seeing mostly in the room because of the industry that we're in, Windows-based laptops and so I'm going to assume that the answer in the room is no. You don't love your work technology as much as you love your home technology. But Jamf's focus is making sure that happens. And I can't tell you how easy life gets for IT people when their users are deliriously happy because they love their technology, but there's another side to that. And that is, does your organization trust that every single person and device that is accessing the organization resources is safe. Now there's a lot of companies that focus on the first question, there are a lot of companies that focus on the second question. There are not many companies that focus on both questions. In fact, Jamf might be the only one because there isn't anybody that really brings both that love and trust to the table. And I'll come back in a little bit and talk a touch about our solution strategy for achieving that. But first, what I would like to do is bring up John Strosahl to talk a little bit more about just our customers and what we're seeing here at JNUC with our customer and partnerships. So John, do you want to come out?

All right. My name is John Strosahl, and I'm going to talk to you a little bit about Jamf Nation and the value that it provides our company. I'm going to talk a little bit about a couple of customers that we highlighted in our keynote and then touch on some of our larger strategic partners that also spoke at the keynote. So first off, I'll start off with Jamf Nation. Now Jamf Nation started off as an e-mail distribution list in 2007, and 15 years later, is over 100,000 active users. It's the largest, as Dean said, the Mac administrators' community in the world. And when I say active, I don't mean that they signed up for the community and then read a couple of notifications. They are actively involved. They are answering questions of other users. They're posing solutions that they've come across. They're asking questions that they may have. There's even discussions on there about job openings, especially those for Apple administrators and GM certified. So there's considerable value to this community. And that value is interesting because the more people that join it and the more value it provides, it's almost like a network effect or a flywheel. The more people want to join it, the more valuable it becomes. And this is a significant competitive advantage. This is 100,000 users. This isn't something that a competitor can stand up in a year or 2. It's something that we are far away the leader in this area. And then if you look at JNUC, so JNUC is our opportunity to get some of these community members together in person. This is our 13th year. It's actually the first time that we had it outside Minneapolis simply because we didn't have enough room. There wasn't a place in Minneapolis that could host us. And for those of you that saw the keynote, there was a couple of thousand people almost in the room and then many more online. And that value is really what creates the advantage that we have. And there's a passion and energy in the room. When I first started in 2015, I hadn't yet started at Jamf. And Dean said, come to JNUC. And I thought, well, I must say I was a little skeptical. It was a much smaller company at the time. And when I walked in the room and I saw the energy and the enthusiasm that those community members had for Apple, for Jamf, for each other. I said, okay, this thing's got legs. And here I stand 7 years later and 64,000 additional customers later, and I couldn't be happier with the journey along with our customers. So if we look at some of the customers that we highlighted, Dean talked about work technology that users love and organizations trust. And these 2 are prime examples of that. American Airlines, large company, as you know, several thousand employees. They use this primarily on iOS because that's just the nature of the work that their workers do. And they use this below the wing. So the ground, the maintenance, they use it above the wing, so the flight attendants and they're running up and down the aisles with those handheld devices and also in the cockpit, where they have those large captains' cases that they don't carry any more American Airlines, maybe they do at others. But that certainly -- they originally started off as a hybrid environment. So they had Android and Mac -- sorry, and iOS. And they switched to fully iOS because they'd ask their employees and they found out what was better. And so when they sent out the iOS devices and replaced some of their other platform devices, the flight attendants actually sent them selfies to the IT department of them opening the boxes of the iOS devices. And some of them actually took pictures of them throwing away their old devices. And so if you talk about workers that love their work technology, that's a great example. And they love that technology because it simplifies their work. Now another company that we highlighted, which was HSBC. And HSBC, I don't have to tell this room, a large bank, global bank, obviously, given this the breadth and the scope of their responsibilities in the financial services, a lot of very specific security requirements. And the fact that HSBC came up on stage and a person from their IT organization, a person from their security organization talked about how they combine management and security to get the depth of solution that they trust accessing their corporate network. And that, again, is something that other companies don't do, put those 2 things together, and it's a great testament to the solution that we've provided and that companies that need that specialty and security, especially along with management, can leverage. And last, I'll touch on the -- some of our larger strategic partners that we highlighted at JNUC this year and actually came up and spoke on stage. And if you look at the logos on this slide, it's pretty interesting. You've got the 3 largest endpoint providers. You have the 3 largest cloud providers, you have the 3 largest identity providers all on the same stage, on the same day, having this presentation. Some of them participated virtually, but all of them, of course, participated. In fact, the logo on the far left there asked us after the keynote, how did you make that happen? And the reason it happened is because -- well, for 2 reasons. One, we're the undisputed market leader. No one else could get these companies on stage in our space to speak at the same time. And secondly, we provide value to their solution. They certainly provide value to ours, but we provide value to their solution, which is why they're working with us, and we're working with them to leverage those capabilities to address our expanding addressable market. And now I will bring up Ian to talk about that addressable market.

All right. Hey, everybody. Great to be up here. Really excited to have you all here, and I've been in this role now about 4 weeks, and we're here at JNUC. And I've had an opportunity to meet a lot of you. I know I have time, I need to get more time with you and spend more time with you. I'm really looking forward to doing that today and in the future. So I get the great opportunity of talking about TAM. You've heard about the significant changes in the platform. You've heard about all the evolutions. So I'm going to talk about that and give you an update on that TAM since we really haven't done that since IPO. So here, just a reminder, Dean showed this, there's an evolution of our platform when we IPO'd to today. You'll see there's obviously significant changes. But one thing you may have heard during the keynote too, is really thinking about management and even identity and security. And I know we talk about 2 sides of the coin, there's really almost 3 sides of the coin here if you think about it that way. And there's really emerging of that, and Apple even spoke to that during the keynote. I think the other thing to know, this is our platform today. This is where our focus is today and in the near term. So just stay tuned. This will continue to evolve. So with that said, here we go, our TAM. So you may remember from our IPO, you saw a different number than this. This is $35 billion. So we're going to walk through what is actually on this slide. So we've broken it down both into education and commercial. And that first line really represents what you would see from the management's perspective. And I think we're all pretty familiar with that. But when you look at the next line, that's really the security piece. So we've broken that out into connection and protection. And think about those as how we're simplifying and we talked about this during the keynote here at JNUC, that is really actually network security and identity management. We're simplifying that message for customers. Think about it that way. And then there's the protection side. Really think about that as endpoint protection. You'll notice the last line with $11 billion number, that's the BYOD and why we're so excited about this. We see this as a great opportunity in the future with the ability to really partition your work and your personal life. So that's a great opportunity for us in the future. And these are some of the things we think about when we think about, hey, you're going to ask me what's the CAGR on this, right? And the way I think about this with these and the things we'll talk about in the next slide and one of the key trends, the CAGR, we think about this CAGR in the low teens. So let's talk about what those key trends are that are going to drive this into the future? First, consumerization of IT and choice programs. And let's be honest, those are Mac programs, right? That's really what's going on within the industry. Second, M1 and M2, the power and affordability of that. And then when you mix it in with Jamf, the total cost of ownership couldn't be lower. The next trend that we're seeing is work from anywhere, learn from anywhere. I mean, look, I mean, how many of us say, No, I'm just not going to go in the office today. I'm going to work from home or I'm going to work from the coffee shop or whatever it may be. That's another trend that continues to drive this. BYOD, you saw it in the last slide, I continue to see that as an opportunity for us. Not quite there yet. We're working on that, but that's definitely a growth driver in the future. And the last one that I would mention here is like, again, Apple devices are now becoming more prevalent within the enterprise. And with that there comes more security risk. And that is going to be another key growth driver for our TAM in the future. So with that said, that's what I have for you on the TAM and market opportunities. I'm going to turn it over to Dean now to talk about our vision. Dean?

Awesome. Thank you very much. Again, Ian, and hello, again. Just a bit, we're going to bring Linh up, who's our CIO, and she's actually going to talk a little bit, and you're kind of going to get a customer testimonial because Linh is a customer of our Jamf solutions. But I want to make 3 points about what really makes Jamf different and why you see the energy for those that have been able to walk around JNUC. Let's start with this. I mean it's not just the tagline. Our purpose is to simplify work. I will sometimes get a question from those in the investment community, I wanted just be so much simpler for IT. They have one solution, this magical solution that will treat all devices the same and all get onto a single pane of glass as if that's the end goal. And the answer that I might say would be, okay, how will the user set up a printer? And when you have a solution that is not designed, for instance, for the Mac in this particular case, that seemingly extremely simple task is not so simple. That is actually very complicated. And all of a sudden, you have IT personnel being called because there's thousands of people out there just needing to print document. And that's one silly little example but it's real and it's what sucks up the real time of IT people versus looking at some devices in a purpose-built solution and their Windows devices in another purpose-built solution. That doesn't cost them any time at all. And really, doesn't cost them a whole lot of cost either. What you want to do is simplify the lives of all of the employees because that simplifies the lives of IT. One real-world example would be Rituals Cosmetics who has about 700, 800 retail stores throughout Europe, and they wanted to just automate all of their stores on iOS devices. Problem is they don't have any IT people out in all of those stores. So how do you take people who know how to run a retail store, but don't know IT, how to set up all those devices? So they went to Apple and said, "Who do you think could simplify the work that is occurring in the stores." And they said, "Well, it's going to be Jamf." Since they were a Microsoft 365 account, they said, "Maybe we should go to Microsoft to ask as well, ask the same question." And they said, "Well, it would be Jamf." And so Ritual was just surprised that they were able to go to both Apple and Microsoft and get the exact same answer. And while we might not have a single pane of glass for all of those devices that are out there, since they don't have to ever touch any of the technology that is shipped to over 700 stores, gosh, that seems really simple for IT. It doesn't seem like it would be really efficient. So from a management perspective, we've always had that strength. Well, now the question is coming at us again, this single pane of glass question on security. And so the analogy, I would use, is if any of you have cars that when you leave the lane that you're driving in might ding at you. I have one of those cars. My wife's car has an added dimension as it kind of nudges you back over in the lane that you're supposed to be in if you start to cross over. Now if you have one car, whether it dings or nudges you probably doesn't matter all that much. But if you've got 1,000 cars you're monitoring, from some centralized location, do you want 1,000 dings every time you get out of the lane, which is maybe a visibility that a problem occurs or do you want the problem corrected. I think you would feel a lot more comfortable if you were monitoring 1,000 cars that you would want the correction to occur. That's what happens at the intersection of management and security. You don't just detect whether there's risks, you actually do something about it. I was asked the question just yesterday. Doesn't it make sense to have all of the threats from all the devices coming into one spot. And by the way, we do that. We will log to whatever the SIM that you might have internally that you're using. But my very simple question is, and then what do you do when you find out that these threats exist, what do you do? What Jamf is able to do is we're able to nudge and sell -- and correct back into the right lane. So that's one point I want to make on simplifying work. Apple First, Apple Best. That is -- I can't overstate it. When the M1 chip came out, there was a Reddit discussion with -- I won't mention the company name, but a household name in security, and there was simply a post out on Reddit that said, "Hey, does this company support the new M1 chips?" And the answer from that company was, "Well, we're going to monitor adoption." The poster went out of their minds because that's not what you do with Apple. That's what you do with Windows. You go, "Well, when is there enough adoption to actually support the next operating system." But the day that you need to support an Apple technology or an Apple operating system is the day that that's available because that's how Apple works, and that's how Apple -- what Apple users expect. There aren't upgrade projects in Apple land. People upgrade when the new technology comes out. And so -- and if you think about it from a security perspective, the strangest thing happens when people -- actually security people say, we're not ready for that operating system so stay on the old operating system. Well, rule #1 of keeping yourself secure is be on the latest software. And so both from a management and security perspective, being Apple First, Apple Best and being Apple same day is critically important. The final thing I want to mention is back to these 2 questions of love and trust. So how do you trust in a way that is awesome for the users. And I'm going to connect out what Ian just said, I'm just going to use a silly little example of we want to trust everybody that comes to JNUC, right? So what does everybody who comes to JNUC have to do. Those of you that are registered, you know you first have to register. Why do you have to register because we want to know something about you. We're not just going to trust you when you come off the street. We've got to know something about you. You've got to register. Well, that's Jamf Pro. You've got to enroll your device so that we know something about it. When you get here, you have to show your ID. We have to know that it's you. Well, that's Jamf Connect. That is connecting the identity of the person and making sure that that identity hasn't been stolen. And then at this show, in particular, you also had to have a health pass, right? We were requiring vaccines, we run to make sure you could come in, you weren't going to do some other harm to others because of potentially a health problem, well that's Jamf Protect. To get trusted access, you have to know something about the device, enroll it. You have to know something about the person, connection and identity, and you have to make sure that the device is safe. Those 3 things provide trusted access. The trick is to do it in a way that the user still loves their technology. And the person who is -- we decided to do something different rather than bringing up one of our product strategist to tell you about our product. We thought why not bring up a customer to tell you about what she's doing and her team is doing to transform Jamf itself so that even our own employees love the technology that they're using and we as an organization trust. So Linh Lam, do you want to come on up?

Good morning, everyone. Thanks, Dean. So we introduced quite a few innovations here at JNUC this week, and I wanted to just recap a couple of them with you, especially in the Zero Touch base and trusted access space, but this wasn't just a product announcement this week. We're actually living and breathing it at Jamf. So all of the examples that I'll walk you through and some of the demos, they are all from our own machines. And in some cases, it's actually from Dean's phone that I will use, his own personal phone. You can take a look at it after, but we thought, hey, we wanted to really show you that we're living and breathing it ourselves. We're out there talking to our customers and our partners about it, but we're also enabling it for ourselves. So when it comes to devices, we really do believe that we can have both the ease of use that employees love and expect. And then it's also things that we can do to make sure that it meets the requirements of the organizations too. So I'll walk through 3 examples here in a few minutes. So the first one is the Mac. The device that really is the first impression that an employee has with an organization. Ian talked about the consumerization of IT. Our employees just expect an easy experience. They expect when they open it up, it should just work and then with more and more workers being remote, like myself, our company is based out of Minneapolis, I live in San Jose, California. When the machine came to me, I just wanted to open it and do it on my own. Our employees just want to do it on their own as well. Our employees love Mac, just like any other company. As we're looking at the industry, we see the trend. We see the trend that it's the preferred machine that employees want to use at work too. And that's why we believe in really focusing on that consumer-like Zero Touch experience. So as soon as they remove the plastic from the box, they turn it on, they get prompted to go through remote management and they enter their Okta cloud credentials that we provide to them as well. And securely verifying this identity like what Dean just talked about to is really important because it's the foundation for the entire onboarding process from there because it ensures that we know who they are and that we also give them the right access and configurations for their roles too. So after they get through remote management, it's time to set up the local user account, again using Okta credentials. But what you're not seeing is that Jamf Connect login is kicking in here and that on the back end it's enabling [indiscernible] full disencryption, which normally would prompt a user to log out and log back in, but we don't want to do that. We want it to seem very seamless to the end user as well. So they're thinking, Great, it's just turning on. It's going to work soon. But then on the back end, we're doing things to make sure that the machine is secure and it's meeting our back-end security requirements too. And then we leverage Zero trust networking access to secure all of our corporate resources. The example you see here is the user trying to get into e-mail, but it's not working and that's because Jamf Trust isn't enabled yet. But rather than having to log out and log in and log out and log in to VPN, like I'm sure many of you are used to, we have Jamf Trust. And if Jamf Trust isn't enabled, e-mail is not accessible because the secure connection isn't there. So once the user enables Jamf Trust, they're ready to start working. They leave it on. They don't need to log off and log back into VPN over and over again and Jamf Trust comes installed on the machine already. They don't need to take any other actions to go and actually install it themselves. And something we don't have in this demo, but I thought it was worthwhile to also call out is at Jamf, we also have the Okta Verify app with the single sign-on extension enabled as well. And what that allows is for our users to use the Touch ID on the Mac themselves so that they can just log into company applications that way too. And finally, Jamf Protect. It is constantly running and on the lookout for any security threats on the machines and our users get notification should anything be detected or if they need to take action on anything too. And again, just like Trust, Protect is also automatically installed on the machine. And it's just part of the Zero Touch setup right just works from the first time they turn it on. But we would be remiss to talk about productivity without talking about the mobile devices as well. They just go hand-in-hand. Productivity goes beyond the Mac. So in the mobile space, users definitely prefer to use devices that they love, but they also really, really value their privacy. Prior to coming here to this organization, when I had to deploy MDM in my past lives, it was very much, Oh, man. So big brother. I don't want to enroll, you're going to deploy all these agents, you're going to see everything that I do. Privacy is really top of mind. And at Jamf, we're really proving that we can deliver both the work experience and that personal experience still respecting the privacy on one device. So this is actually Dean's phone. It's an iPhone 11, please be kind to him that he's still on an iPhone 11, but we'll start off by looking at e-mail. You'll see that once enrolled, his Jamf e-mail and his personal e-mail are coexisting within the Apple native app, but the Jamf e-mail is secured and encrypted by Jamf. It has built in data loss protection as well. We go over to the phone line. He has 2 phone lines, his personal line and his work line that we provision via eSIM as well, and they just coexist really easy to toggle between the two. This is going a little bit faster, but you just saw Apple Wallet as well. We're taking trusted access beyond just digital assets. We're going into the physical side of it as well, where we can provision the batch directly to our employees' phones and when they visit our offices, they can just go ahead and tap and they are able to get in. And then focus mode with iOS 16 -- sorry, let me -- the demo is still going here. Okay. So he actually went into self-service and he saw all of the applications that are available to him as an employee, and we also have private access setup for those applications too. And what that means is when he uses those applications like Chrome, he installed Chrome on his machine and he logged in, he hit our Okta landing page, which has all the applications that are accessible to him. If he tried to do that through the Safari browser, which is not a browser that we have private access set up again, so think of it as his personal browser, he's not able to hit that Okta landing page and all those applications will be locked because it's not a secure connection. And then with IOS 16 and why this screen is blue here, he was able to use focused mode and in a couple of taps, he was able to basically turn his phone into just a personal device again, hide all of those work applications he doesn't want to be on. He doesn't want the work phone calls coming through his work line. So he's able to keep it private when you want it to be private or have it coexist as both a work device and a personal device at the same time. So this is all real for us. My phone's set up the same as well as all of these others that are sitting on the side of the rooms here. We're really transforming that BYOD experience and why I love this is we're putting it back into the user's control. They enroll their own devices. They're walking through that experience that they're very familiar with. Going into settings within their Apple devices themselves. It isn't, hey, go here, install this application, use this URL, which could be prone to phishing scams as well. It's really back in their control. And we're keeping the user experience in mind, but also respecting their privacy as well while also balancing our organization's security requirements, which is always very important. Okay. So with that, I'll hand it back to Dean, thank you.

Thank you. And we're going to go into Q&A just in a bit. I just want to mention, yesterday, I was speaking to a customer that uses us for Mac and they started talking about iOS. And they have purchased tens of thousands of iPhones. And I asked them, why don't you just have your employees purchase them and use BYOD and save yourself some money? He said, because they don't want our management running on their personal phones. And without it, we don't trust the security. It's that simple. We're sort of in a pickle. This solution solves that problem. And as the market learns about what is actually possible now, I think it has the potential of transforming the market. Now on the topic of security, I should at least mention, we've gone through this entire presentation that just this week, we announced the intention of buying a small security company named ZecOps. And what ZecOps does is they are a mobile security solution, the solutions for both iOS and for Android, and it is a highly innovative solution. Maybe the best way I can describe it is that for Windows machines, you've got the CrowdStrikes of the world that do a wonderful job examining all the logs and activity that occurs on Windows and then determining, assessing whether there's maybe been any kind of a sophisticated threat against those Windows machines. We do something similar with Jamf Protect for the Mac. But there really isn't a similar solution for mobile. As a matter of fact, if any of you wanted to get the detailed logs on your iOS device, the only way to do that is to tether it to your Mac, physically with the cable, say you trust that Mac and then run a tool on the Mac to go through the logs. And then the really hard part is knowing what the heck the logs are saying. And what ZecOps does is it not only streamlines the path to get access to that information, but it has very sophisticated intelligence for interpreting that information to determine whether attacks have occurred. We have not found this solution. This is not one of those of why would somebody use this solution as opposed to because we can't find the as opposed to. There's really nobody out there that's doing this, and we're very excited to be able to bring those assets into the Jamf family and bring some broader market appeal to it. So highly, highly innovative and we're excited about it. Now with that said, let's go ahead and have our Jamfs all come up, and we'll snuggle up tight here on these chairs, and we'll open it up to you for any questions that you might have for us. And just so that you remember everybody's name, there you go, and you can address it straight to the person or if you don't know who to ask, I'll try and direct it accordingly.

And just one more thing on Q&A. Liana will be walking around with a mic. So if you raise your hand, track her down and ask a question, if you would, before you ask your question, just state your name and your firm name, that would be fantastic for those that are watching on the live stream.

All right. Anybody have a question? Yes, sir.

All right. Well -- got it. Okay. Josh Reilly from Needham. Thank you. Great event. See the passion in the customers and employees, it's pretty exciting stuff. I guess I have a question for Dean. What do you see in terms of the likelihood of Apple building into the OS or MDM protocols which would make it easier to transfer to a different MDM? And then how do you think about this balancing or helping you win net new customers versus any potential churn from that?

So -- and your potential new customers versus churn related to if there was the ability to transfer. And this is you chatted a little bit earlier saying you hadn't realized how hard it was to actually move from a management provider to management provider. I'm going to -- Wudi get ready to share your opinion on this as well. And I say that because he and I have chatted about this at length. We -- is it fair to say, would like Apple to provide a better transfer for a management provider capability. And frankly, the reason is because we have really, really loyal customers, and we would see more opportunity to switch to us than away from us. I mean any comments you want to throw on top of that?

Here's a couple of things the way I guess, that I think about it or we would look and approach it is. The first is the time it was brought and what we have with MDM, it was meant to be 1 device, 1 organization, 1 management authority. There actually is a world where you can look at the way that devices are being used, that you may want to receive information or report information back to more than one authority. And there's workflows or capabilities. So the first element is Dean is exactly right. We would love and have asked to say, we want the ability to transfer, but we also are willing to say that means people have to be able to transfer from us. It's basically your device, your data, you should be able to move it and take that with you. That is not a simple thing, but the idea that there are innovative workflows where a device can be used for purpose in an organization, whether it's the BYO, the way that you get the information or the way that you want to make it ready for use that could really be interesting in the future years if when you're in certain roles or certain context, you have the ability to leverage that. And there are technologies. The Apple team that was on stage talked about some of the declarative management. It gets to be fairly technical, but it changes the way that it works. Today, the technology is it has to come to an MDM and get its information and give its information in order to get things back. We are all going to be moving to a world in the Apple ecosystem where you describe what you want that device to be and the device takes care of it. And it's going to completely change inside out the way that we think about management and our ability to actually scale. There's a great deal of value in what will come. There's also a great deal of work that it's going to take to make sure we can adopt all of that, and you're going to see investment have to continue to be in front of those types of technologies.

I want to plus-one on that for a moment because I didn't mention it. Apple, if you heard Apple on stage, they talked about a bunch of their new technologies. They talked about the clarity of management. Our support for declarative management is in our code today. it's not generally available from Apple yet. That's not normal. That's not how the market typically responds to that, but it's what our customers expect from us, and it's what many other providers don't do, especially those that might not be investing as much of this in the future. It is going to change management where it's more of a listen to the device reporting in -- it will work when available from Apple, on Mac, on iPad and iOS, not on Android and Windows. So this is an example, if an Apple only thing that will change management and if you're in a cross-platform solution, not going to do a lot of good for you to embrace these new capabilities from Apple. It's a really big deal. It was 2 seconds of the keynote, it's a really big deal.

I like Josh's comments, great event. Really enjoyed it. There's Vinod Srinivasaraghavan from Barclays. I want to talk a little bit about how do the user experience using some of the new products, especially since you've acquired a couple of products from Wandera. I think right now, you have to kind of go to different consoles to do that. Can you talk about how that's kind of coming together? What are you doing on the back end to kind of simplify the process?

So our first priority -- from simplifying the process. And by the way, I should mention we couldn't get another chair on this stage, but we have Nick Amundsen, our Senior Vice President of Strategy, in the back of the room. And so when all of us simply can't pretend to know the answer to something, Nick, can you actually chime in with the actual answer? But our first priority on all of the integrations we're doing is what is the experience for the user. It honestly just is not that hard to go into one console versus another if you're in IT, but you have to make that user experience outstanding. And you see what we did with Jamf Trust. Essentially, what Jamf Trust is doing is it is the single tool from a security perspective for the end user. That was the first point of integration we wanted to make sure. And yes, there are a couple of consoles on the back end, and our plan over time is to -- is it bear Nick to look at. We will work on all of our protection solutions, consolidate those consoles, the same thing on the connection side. So that's work that will be done over time, but we are already there on what really matters, and that's what's happening on the end device.

And I'll just chime in and say you can actually see that evidence in the latest product that we announced, which was Jamf Safe Internet for our education group. That's one console bringing together both the management and the security.

I'm hesitant to -- do you want to tell the fun story on Safe Internet yesterday, John? From what we found all last night at the party from Dan, the safe Internet sale, keynote. You were pretty excited there. Apparently, there's more exciting stories I haven't heard yet?

Yes, we had a customer contact us literally after the keynote and put an opportunity in Salesforce, and they closed it yesterday within like 15 hours of the keynote addressed for Safe Internet. So it's certainly resonated with our customers.

And that, for what it's worth, the Safe Internet solution is actually built on top of some of the assets that we acquired from Wandera. So that's another example of -- and we did do a lot of console integration there. So for instance, a lot of the work that our customers can do, they actually are able to do it right from within Jamf School, which was the product that they already had. Good point. Other questions.

Justin Roach from Piper Sandler. I echo my congratulations on a successful JNUC and thanks for having us out here and taking the time today. But just wanted to hit on kind of the security portfolio. Dean, you mentioned a little bit, seems like it makes a lot of sense for customers to run best-of-breed Jamf with Microsoft Intune, a lot of integrations you guys provide there. But on the security front, are you guys seeing customer demand, customer appetite trend to you guys cozying up to maybe another endpoint provider where they cover protection for the Windows base and you guys cover protection for the Mac base? Or how does that look like in a typical sale currently?

I mean it's somewhat similar to what historically, from a management perspective, we're in 22 of the top 25 brands out there. And since we only do Apple. By definition, they all have multiple management systems, right? Because we only got into security a couple of years ago, the image of the security space or the big sale of the security space is get this one consolidated solution. So essentially, what we're doing is we're changing the concept on the security space in the same way that we changed the concept on the management space so many years ago. We're at the early stages of that, but we're already being successful in it. But there have been events along the way that have helped us make the point, like the story that I told about the M1 chip. Those types of stories have been in large part the reason why our Protect product has been ignited so quickly. I've used this analogy before. Our strategy -- our purpose to simplify work, I don't want to confuse anybody. The analogy I'm going to use -- let me say it this way. Our strategy is not that different than Microsoft into that, Microsoft majors in Windows. They provide the entire vertical stack and they do some other things as well. We major in Apple, we provide the entire vertical stack. One of the reasons why Jamf and Microsoft are so well partnered together is because we do those common things and we don't have to bump into each other all that much. And what Microsoft wants is the consolidated data. And since we're concerned with the endpoint, we're happy to share it. So a great consolidated experience within any enterprise is Microsoft and Jamf sitting together. I described our strategy as being similar, but our purpose is different. Microsoft, I don't think is as focused as Jamf is on that simplifying work deal. So we do it in a different way, but we fit together extremely well.

Thank you so much for doing this guys, Joey from JMP. I'd love to hear more about the AWS partnership. What was the genesis for that? And how do you think about the opportunity that exists?

Anybody you want to grab it, Wudi or...

So the dialogue with the team at AWS actually has been kind of on and off since the original discussion where they announced that they had support for it. And I actually believe that a good portion of the work has actually been led by some of our technical teams. We are a customer. We continue to use and the types of solutions that are being provided are very applicable to our own DevOps and our own set of work. But I also believe that it was very much led by a capability and an expectation from the customers. And I think that was what the keynote and the team actually talked about is it's being asked for and I think it was a group of people on the technical side who said, we have capability. We have to think of a different way to approach it and really came together pretty quickly once we got the right group of individuals speaking about it. And I guess I would echo that back to, I think there are more solutions in the Jamf ecosystem that come up that way. There's a real customer with a real need and a group of smart folks who are inside of our org who actually come up and say, we think we can do it and then we have to figure out how to execute that and get back around in front of the rest of the customer base. That piece of the Amazon, the EC2 element is absolutely a customer-focused aspect from our team and the Amazon team.

We had a media event right after the keynote and David Brown joined us in the media event as well. And he told the story, so I feel comfortable mentioning it. He and I were in dialogue days after AWS announced their EC2 Mac environment. And I offered up, if you need any help in that area, and he was like, "Yes, hey, thanks for the offer. We'll get back to you." And then a fair amount of time passed and then actually with Nick and myself got on the phone and he was like, "Yes, we're coming back to it because our customers that are embracing it to Wudi's point, that's what they're asking for." And so that's always a great spot to be when you have a customer that's coming forward, and they had multiple. And so it's just the beginning. We have some really, really neat plans with that EC2 environment.

Thanks for having us. This is Karter from CrossLink. This is for John. John, you've been in this new role for a little bit. Tell us what you're most focused on and where you see the biggest opportunity over the next 2 or 3 years?

Sure. Yes. I mean we have a -- we've built up a very significant go-to-market organization, and we're really getting some scale there. The product and development organization, I mean, we couldn't be closer working with Apple and our partners, and that's a very solid part of the house as well. I think where we are going to see the next inflection point as to leveraging our third-party channel more heavily, we certainly do today. We have a significant amount of business that goes through third-party channel. But then leveraging that, along with the strategic partners that we showed on the slide today that came and spoke at the keynote. That's really going to be the inflection point, I think, of our growth, and that's where the 1 plus 1 equals 3.

I think if you had asked John that question 4, 5 months ago or 3 months ago, it would have been to focus on recruiting and getting people in the door and then we hired this person. And they've become best friends and really, we've seen a really nice movement here in the last couple of months of our ability to be able to bring people in faster.

Kyle from McKinney Capital. On that point, any changes in the hiring plans over the next 12 months in an adjustment to what's going on in the world?

You guys want to ham and egg it a little bit. You want to talk about from an investment perspective or operations and investment. I don't know value operations, your investor, you're able to go first.

All right. Yes, great question. I mean we do continue to invest those areas are going to bring the fastest returns, sales and marketing, or by R&D, G&A then, right? And we're going to continue to invest that way. We're going to balance our revenue growth with profitability. But we have seen some success here within the market. Maybe, Michelle, do you want to talk about our recruiting market and how we've seen some successes lately.

We're just -- we've been able to start to speed up some of the hiring. I think there's obviously the changing momentum out in the marketplace, but we were able to have our highest hiring month in August for actually ever, I think. And we're looking like we're on track to continue to do that this month as well. So we're bringing in a lot of new talent, really excited. And then I would also just highlight some of the international opportunities and expansion that we're looking at in bringing in more go-to-market talent generally in the different locations.

Thanks for the presentation. Good to see you all in person. I'm Julian from Decade Partners. Just maybe a question for Beth is the organization has moved more away from management over the past kind of 2 years with security. Just interested from a maybe a technical or an engineering culture perspective, what's that to change to kind of double down on security chops because you're competing with some pretty ferocious competitors out there on that side of the business. You've been doing it for a long time. Just what you're focused on?

We're really happy, Michelle is here. She is obviously helping on the recruiting side. And then the acquisitions we've had has brought in tremendous talent. So I have the privilege of having just an excellent engineering team in all the locations. So we'll keep recruiting, we'll keep hiring in talent and then the acquisitions we've done have positioned us really well in the security space and the management space. And then organizationally, we're kind of bringing those teams together in different ways to let just the collaboration of really smart technical engineers help us to drive unified experiences, better workflows by just getting the teams kind of closer together.

We did mention -- and I've mentioned this before, even with our larger acquisitions with Wandera. We did not acquire robust go-to-market engines. We acquired some wonderful product and wonderful product people, but none of the companies that we've acquired, including ZecOps have robust go-to-market. Fortunately, John has built out an incredible go-to-market team. But it's one of the reasons why you don't have this immediate like boost from inheriting some terrific go-to-market engine, but the solutions themselves piece together in such a way that that we're very confident as we ramp up our ability to be able to sell their such differentiated value there that it gives us a lot of hope and positivity about our long-term plans.

One other thing I'll add is that if the -- if your talent likes what they're building, makes it really easy, and they're excited about what they're building. From EC2 to Mac to anything you saw on the stage today, they're just excited to get out and build software. So that makes it really easy because they like what they do.

Yes. There was actually a question over right over here.

This is Anasha from RBC. Maybe could you talk more about your international expansion strategy? What are your areas of focus on that front? What investments you've made so far and what's left to be made? And then is there anything fundamentally different about these markets, particularly in terms of Apple's penetration into the enterprise?

Okay. I'll try to piece through some of those questions. Well, certainly, and then I should have answered this, too, one of our areas of growth, certainly leveraging third-party partners and partnerships, but it's international expansion. That's been a passion of mine. I spend a ton of my career outside the United States. And there's a larger market outside the U.S. than inside the U.S., and we've invested accordingly. And we've grown faster outside the U.S. than we've grown inside the U.S. Even though the whole company has grown and what you've seen in the numbers, a tremendous amount. The international piece has grown at a faster clip because it's become more of a percentage. And we've gone from the mid-teens several years ago to now to the high 30s as far as our bookings and things coming from international markets. So we continue to see a big addressable market there and a lot of upside. We're investing accordingly. We have a significant presence across Western Europe. Recently, a few years ago, we've added our Asia Pacific, particularly in Asia. That's been a tremendous boom to our company, especially in commercial as well as education. So when all the funding came out from governments in the U.S., we saw the Cares Act. Well, in Japan, we had the GIGA project. In Germany, we had the DigiPAC program. We saw similar things in other Western European markets. And recently, the most recent quarter, we had a huge investment from the government in education in Taiwan. And we were able to take advantage of each one of those in a significant way because of the groundwork that we had made years ago in creating those partnerships with Apple and creating the partnerships with the local channel in those markets that we could leverage it when the opportunity came, and it did, and we'll continue to invest accordingly.

Go on. I'm sorry, I didn't mean to interrupt.

As far as specific differences, I mean, Europe is not one market for sure, we know that and we address it accordingly and the same with Asia Pacific and Latin America as well. We really have addressed and we've hired experts that know the market and they're in country, they're in markets. We don't presume to try to run this from one location in the Central U.S. We're in the market. We're working with the local partners, Apple offices, and we'll continue to do that as we grow the bigger percentage of our business outside the U.S.

The thing I wanted you to comment on, John, I just was all I was going to do is prompt you is the -- we get asked about our Apple partnership all the time. And I've sometimes said the farther away you get from Cupertino sometimes the strong that a partnership becomes. But wonder if you can just chat a little bit about what you saw happen in Japan and then Taiwan. I think in specific -- I can't even remember the specifics, but the events that we did in Taiwan and Apple sponsorship, can you just talk about that partnership a little bit?

It's very strong. And we were able to get very high in the organization in Apple in Japan when we first started off. And the leader we hired there, someone I'd worked with for several companies. Very good at that type of thing. And because we were able to get it at the right levels in Japan and the Japanese market very -- like others, but also very specific, you need to have the relationships at the top and then it can filter down to the organization. And because we were able to do that in Japan, we were in pole position to take advantage of the GIGA project for an example. Because we did so well with the GIGA project, then when Taiwan came, of course, the leader of Apple in Taiwan spoke to the leader of Apple in Japan, and they said you guys need to do this. And then it worked very, very well with -- in Taiwan. And then that's come back to Apple. And so there's -- this was -- the GIGA project was an initial rollout and then there'll be renewals on that. And because we've succeeded in other markets, that has come back to benefit us tenfold really. And we'll continue to do that, and there's a lot of coordination there.

This is Cameron from Dragoneer. Thanks, everyone, for all the thoughts, and it's been awesome hearing the energy from all the folks here on the user side. My question was around kind of the commercial market and momentum. I know a couple of months ago, you'd spoken about some of the changes competitively. Obviously, some other vendors becoming consolidated in a bit of a different place and customers recognizing that. At the same time, there's venture-backed folks that maybe the environment is a little bit different than it was a year ago. And so curious how that, combined with the fact that you guys are obviously still investing, how that's played out in the market and any update there?

From a competitive perspective, any rhythms changes that you're seeing?

No. we have had a series of competitors, smaller competitors in the marketplace. And they come and they really -- they'll play real hard on price. For example, we talked about the value of Jamf Nation. When someone needs to know something about how to administrate Apple in the enterprise or even in the organization in general, they'll go there. They get answered. That's associated with Jamf. There's just a lot of momentum that we've created over these past several years that the newer competitors, they can't buy. And you don't just stand this up in a year or two. And that's really kept us at a distance from that. And we sell against free all the time on the low end and on the high end, but companies continue to buy our product because of the value that it brings. And now we've included security in that, it just even exponentially increased the value to the organization.

You might have seen some of those organizations. They've got some banners out at the airport. They know we're here and that all Jamf Nation is here. And there -- we see them regularly. I mean, I haven't seen any buses pull up to the building, but that's happened in the past as well. And then I would -- not only did we -- John talked about Microsoft. I don't know if you noticed the Jason's title at Microsoft. It's Chief Product Officer, Microsoft Endpoint Manager that's officially a competitor of ours, but it tells you something about that relationship of why would we have somebody with that title speak on our stage and why would he want to? There is a really nice coexistence that we have with Microsoft, you got -- everything is a little bit of competition, but there's more partnership than there is worry there. And then I would also remind you that just to watch the space with what's going to happen with VMware. I was, again, in more than one meeting this week where the individual that I was speaking with a customer was saying, "Hey, I'm using Jamf for this. I want to now consider using you for this as well because one of the other vendors we have in is be a more workspace one and I'm just worried about what's -- where that's going to go and where that's going to head." So I do think that, that's going to evolve into a pretty big replacement opportunity. And Ian and I have talked about this. I think we're going to start to see it around this time next year. And the reason for that is, think about just the budgeting period. You've got a budgeting period that you got to prepare for next year, right? I mean when you announce something like this at the end of May, people don't necessarily have built into their budgets that they're going to switch midyear. And then every fall, Apple dumps all this new stuff. So everybody is going to be assessing next fall, what will the new VMware commit to support right out of the chute of all that new stuff that's coming in the fall and plus it's going be around JNUC. So I think your -- the real movement you'll probably start to see is around this time next year. Are you going to add something?

I was going to actually put the thing in that I guess it is an element of where we are in the context of it if some of you had a chance to participate in person, we get an opportunity to listen to the folks who are here all week in the hallway track that a good part of it is I would love to say that it is 100% our perfect execution of the folks that are on the stage that make it all go. But the reason that those logos and however, we talk about it that way, but the reason that those corporate SVPs or otherwise come listen is because of that customer audience and the fact that they believe that we have their back. And so the thank you actually goes the other way as well, they're here to get to that same customer audience because they're the ones who are doing the work and trying to figure this all out. I think that's what allows us to keep doing it and why we keep investing is they showed up. I mean if you were here and listen at all, they are more passionately asking us for ways to help their organization implement the next thing. Typically, I come ready to hear, "Hey, you have 15 things that are broken, and here's what you need to do to help me, Jamf." I'm hearing that, but it's usually filed right. But I want to get to the next 3 things that you did and how can you help me get it faster. And that's not us, that's actually that customer audience that's doing it. And that's what actually drags the rest of those folks back and listening. They have to come through this customer audience who's doing the work every day.

A couple of good examples would be you heard Jeremy at the beginning of the session, announced 2 other new features, enrollment SSO and platform SSL. Those were platform capabilities, framework capabilities that Apple created for identity providers. Didn't create them for management providers, for identity providers. And you heard both Todd from Okta and Jason from Microsoft commit to the audience, "We're working with Jamf to make sure that this is a really smooth process with enrollment SSO and platform SSO." That's a big deal, especially for Microsoft, who actually has their own management system. They can actually take a different approach of trying to go, "Hey, we're going to enable these technologies only on our management system and not work with Jamf's management system." But I think you see that they -- what they want is to make sure that customers have an awesome experience in the Microsoft cloud and identity space to do that. It's just wise for them to work with Jamf to make sure that all of Jamf customers are having a great experience. Yes, sir.

Alex from Silvercrest. With the management product you're selling to very loyal Apple administrators. And with security, you're selling to a completely different team on the security side who's grown up with Windows and Linux all their lives. How do you change the sales cycle or the sales approach to target that different team?

It varies -- I'm going to kick it over to John, but it does vary depending on whether you're talking about SMB versus enterprise, but if you want to touch on that, John?

Yes. And we've found that at a certain level, the corporations are sophisticated enough to bring in a CISO and then the buying motion can change slightly versus the IT administration that we've been talking to and talking to management about, but -- so what we've done to address that is we've hired in, we've created overlay organizations that know security, and they know how to talk to that CISO and they have the same territories and the same accounts as our device management sales team. We're obviously training up the device management sales team very rapidly on that as well. But bringing in this overlay team has really helped because they work very well together. Sometimes we'll learn of an opportunity about security through the IT team, and they'll bring in, then we bring in the overlay team. And we don't it's not an either/or, so we'll comp both reps on that deal. So they're incented to bring those into the organization and help with that sales process. And we found great success. But having people that understand how to speak to the CISO and the questions that they're asking and the language that they're speaking has benefited us greatly. And you've seen that in our year-over-year security growth rate that we released in the last quarter.

Right over here. And let's make sure we keep going back and forth, back and forth on the ends.

Dean, you hinted at the keynote around simplification in the product lines a little bit. I wonder if you had more to share about that at this time?

Yes. So and I did hint a little bit of it up here as well that we essentially have -- well, when Jeremy spoke and as Ian said, he said, I really see the convergence of management, identity and security. Now we wouldn't use that same language because, frankly, management of security and identity of security and threat prevention is we consider it all security really. But ultimately, those three, so let's call it, core management and policies of a device, core identity-based access for an individual and threat detection, prevention and safety from potential attacks. Those are the 3 categories that we see everything kind of roll up into. And so we are working with some packaging that would sort of do a little bit of a realignment of all of the products into product lines amongst the 3 with a specific price point for Mac versus iOS versus other types of devices. So let's call it, it is not super highly innovative. It sounds an awful lot like what we used to have for our product strategy, but it's management connection and protection. Those are the 3 big buckets. And we now, unlike when we went public, where connection and protection, we only had Mac products. Now we have products across the entire Apple portfolio and beyond for both connection and protection.

Great. I don't see any more questions. Any last one?

One more.

Just one last one. While I was kind of walking around some of the booths, I noticed a little bit more emphasis on health care. So maybe can you just kind of speak to the opportunity and the vision there going forward?

Yes. So I mean, we entered the healthcare space -- I want to say we just dipped our toe in back in 2016. So we've actually been pretty -- it's been a growing focus since. The reason we went into healthcare, a couple of reasons. One is if you're going to partner well with Apple, you care about the industries that Apple cares about. And it's one of the reasons why we've always been so focused on education. Healthcare is another one of those industries. But in addition to that, during my keynote, I talked about personal productivity devices and devices built for purpose where it might be a teacher device or a care provider device or a patient device. Those workflows, Jamf excels at. We are really -- and nobody else really excels at that. And so we've sort of found a sweet spot in the market where an organization might even use an alternative management provider, say, for their iOS devices, but there are some shared device workflows that they just can't handle and Jamf can. And so we actually end up coming into the picture. And eventually, they end up switching the rest of their devices over to us as well. If it's the difference -- when I started, I said we didn't go after this market doing what's easy. We went after doing what's hard. I would categorize these shared workflows into the hard and health care has got a bunch of them. So if you were to look at over the last 5 years from a single industry perspective, I can't think of an industry where our sales have grown faster than health care. If it's not #1, it's #1, #2, I mean it's up there. And it's because of those healthcare workflows that we help people with. And if you -- Cincinnati Children's was here, every time I walk by the guy, he was like, grabbed me going thank you because we were just solving problems that they couldn't figure out how to solve themselves.

Okay. I think that will end things. I don't see any other questions. So first of all, thank you again for all of you in the room who've joined us, whether it's just for this event or for the entire week. And also thank you to everyone on the live stream for joining us as well. Thanks to the Jamf leadership team, well done. And this concludes today's event. Thanks so much.

Thank you, everybody. Appreciate it.