MINNEAPOLIS - Investment funds affiliated with Vista Equity Partners are initiating a public offering of 8,956,522 shares of Jamf (NASDAQ:JAMF) Holding Corp. (NASDAQ:JAMF), a company specializing in Apple (NASDAQ:AAPL) ecosystem management and security. The offering, based on a registration statement filed with the SEC on June 24, 2022, also includes an option for underwriters to purchase up to an additional 1,043,478 shares.
The shares are being offered through a prospectus and an accompanying prospectus supplement, which interested investors can obtain from the SEC website or directly from the underwriters. Morgan Stanley & Co. LLC, Goldman Sachs & Co. LLC, and J.P. Morgan Securities LLC are the joint underwriters for this offering.
Concurrently with the offering, Jamf has announced its intention to repurchase 2,000,000 shares of its common stock from the underwriters at the same per-share price paid to the Selling Stockholders. This repurchase is contingent upon the completion of the offering, and there is no assurance that it will be completed. Jamf will not receive any proceeds from the sale of shares by the Selling Stockholders but will bear the costs associated with the sale, excluding underwriting discounts and commissions.
This move by Vista Equity Partners comes as part of their investment strategy, and the decision to sell shares of Jamf does not involve the issuance of new stock by the company. Jamf, known for its focus on Apple device management, has clarified that it will not benefit financially from this transaction.
InvestingPro Insights
As Vista Equity Partners moves forward with its public offering of Jamf Holding Corp. shares, market participants are closely monitoring the company's financial health and growth trajectory. According to InvestingPro data, Jamf boasts a market capitalization of $2.62 billion, reflecting its substantial presence in the software management sector for Apple devices. Despite a challenging P/E ratio of -24.14, which further adjusts to -29.03 for the last twelve months as of Q1 2024, the company has demonstrated robust revenue growth. Specifically, Jamf's revenue has increased by 15.47% in the last twelve months leading up to Q1 2024, with a quarterly growth rate of 15.06% for Q1 2024 alone.
The company's gross profit margin stands at an impressive 79.81%, with a gross profit of $463.29 million over the same period. However, it's important to note that operating income has been negative, at approximately -$91.94 million, indicating potential challenges in achieving profitability. With a fair value estimated by analysts at $24.5 and an InvestingPro fair value slightly lower at $21.82, investors are weighing the company's growth prospects against its current financial performance.
For those considering an investment in Jamf, the InvestingPro platform provides additional insights. There are more than 10 InvestingPro Tips available that can help investors make a more informed decision, including a deeper analysis of the company's financials, growth potential, and market positioning. Interested readers can access these tips and more by using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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