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Jamf Swings to Profit in Q1 as Revenue Gain Also Tops Street View; to Acquire Wandera for $400 Million

05/11/2021 13:10

05:06 PM EDT, 05/11/2021 (MT Newswires) -- Jamf (JAMF) late Tuesday reported Q1 non-GAAP EPS of $0.08, compared with a loss of $0.00 per share a year ago.

Analysts polled by Capital IQ had projected EPS of $0.05 per share, on average.

Revenue rose to $81.2 million from $60.4 million in the year-ago quarter. Analysts had expected $76.7 million from the provider of enterprise software for Apple (AAPL) hardware.

Separately, the company said it agreed to acquire Wandera, a provider of zero trust cloud security and access for mobile devices, for $400 million, subject to customary adjustments.

The consideration includes an initial payment of $350 million at close and deferred consideration of $50 million to be paid in $25 million increments on Oct. 1 and Dec. 15. The acquisition is expected to be completed in Q3.

Jamf said it plans to finance the acquisition with a combination of cash on hand and debt financing.

For Q2, the company expects revenue of $82 million to $84 million and non-GAAP operating income of $5.5 to $6.5 million. The Street view is for revenue of $79.1 million.

For 2021, excluding Wandera, the company forecasts revenue of $335 million to $341 million and non-GAAP operating income of $27.5 million to $31.5 million. The Street calls for revenue of $333.8 million.

Shares of the company were down more than 3% in after-hours trading.

Price: 30.40, Change: -1.15, Percent Change: -3.65