Shares of JAMF jumped as much as 96% on Wednesday after the Apple partner priced 18 million shares at $26 each.
is to "help organizations succeed with Apple," the most valuable U.S. company with a market cap approaching $1.7 trillion.
JAMF helps companies securely deploy Mac computers, iPhones and iPads, connecting them together and giving IT teams the tools to manage them. In itsFirst quarter revenue climbed 37% from a year ago, to $60.4 million, and JAMF's gross margin rose to 75% from 70%, as more customers turned to its subscription offering. Its net loss narrowed slightly from $9 million to $8.3 million.
"We believe our internal cloud-first technology platforms have allowed for a seamless transition to a remote working environment without any material impacts to our business, highlighting the resilience of our business model," the company said. Still, JAMF repeatedly cites uncertainty surrounding the length and magnitude of the broader crisis as a significant risk., a four-year-old company, whose software makes it easier to remotely configure, wipe and deploy devices.
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