see “ risk factors — risks relating to our 71 business — the covid-19 pandemic could materially adversely affect our business , operating results , financial condition and prospects ” for additional information . key factors affecting our performance our historical financial performance has been , and we expect our financial performance in the future to be , driven by our ability to : attract new customers . our ability to attract new customers is dependent upon a number of factors , including the effectiveness of our pricing and solutions , the features and pricing of our competitors ' offerings , the effectiveness of our marketing efforts , the effectiveness of our channel partners in selling , marketing and deploying our software solutions and the growth of the market for apple devices and services for smbs and enterprises . sustaining our growth requires continued adoption of our platform by new customers . we intend to continue to invest in building brand awareness as we further penetrate our addressable markets . we intend to expand our customer base by continuing to make significant and targeted investments in our direct sales and marketing to attract new customers and to drive broader awareness of our software solutions . expand within our customer base . our ability to increase revenue within our existing customer base is dependent upon a number of factors , including their satisfaction with our software solutions and support , the features and pricing of our competitors ' offerings and our ability to effectively enhance our platform by developing new products and features and addressing additional use cases . often our customers will begin with a small deployment and then later expand their usage more broadly within the enterprise as they realize the benefits of our platform . we believe that our “ land and expand ” business model allows us to efficiently increase revenue from our existing customer base . we intend to continue to invest in enhancing awareness of our software solutions , creating additional use cases , and developing more products , features , and functionality , which we believe are important factors to expand usage of our software solutions by our existing customer base . we believe our ability to retain and expand usage of our software solutions by our existing customer base is evidenced by our dollar-based net retention rate . sustain product innovation and technology leadership . our success is dependent on our ability to sustain product innovation and technology leadership in order to maintain our competitive advantage . we believe that we have built a highly differentiated platform and we intend to further extend the adoption of our platform through additional innovation . while sales of subscriptions to our jamf pro product account for most of our revenue , we intend to continue to invest in building additional products , features and functionality that expand our capabilities and facilitate the extension of our platform to new use cases . our future success is dependent on our ability to successfully develop , market and sell additional products to both new and existing customers . for example , in 2018 , we introduced jamf connect to provide users with a seamless connection to corporate resources using a single identity and in 2019 we introduced jamf protect to extend apple 's security and privacy model to enterprise teams by creating unprecedented visibility into macos fleets through customized remote monitoring and threat detection and prevention . continue investment in growth . our ability to effectively invest for growth is dependent upon a number of factors , including our ability to offset anticipated increases in operating expenses with revenue growth , our ability to spend our research and development budget efficiently or effectively on compelling innovation and technologies , our ability to accurately predict costs and our ability to maintain our corporate culture as our headcount expands . we plan to continue investing in our business so we can capitalize on our market opportunity . we intend to grow our sales team to target expansion within our midmarket and enterprise customers and to attract new customers . we expect to continue to make focused investments in marketing to drive brand awareness and enhance the effectiveness of our customer acquisition model . we also intend to continue to add headcount to our research and development team to develop new and improved products , features and functionality . although these investments may increase our operating expenses and , as a result , adversely affect our operating results in the near term , we believe they will contribute to our long-term growth . continue international expansion . our international growth in any region will depend on our ability to effectively implement our business processes and go-to-market strategy , our ability to adapt to market or cultural differences , the general competitive landscape , our ability to invest in our sales and marketing channels , the maturity and 72 growth trajectory of apple devices and services by region and our brand awareness and perception . we plan to continue making investments in our international sales and marketing channels to take advantage of this market opportunity while refining our go-to-market approach based on local market dynamics . while we believe global demand for our platform will increase as international market awareness of jamf grows , our ability to conduct our operations internationally will require considerable management attention and resources and is subject to the particular challenges of supporting a growing business in an environment of multiple languages , cultures , customs , legal and regulatory systems ( including with respect to data transfer and privacy ) , alternative dispute systems and commercial markets . in addition , global demand for our platform and the growth of our international operations is dependent upon the rate of market adoption of apple products in international markets . enhance our offerings via our partner network . story_separator_special_tag cost of subscription revenue consists primarily of employee compensation costs for employees associated with supporting our subscription and support and maintenance arrangements , our customer success function , and third-party hosting fees related to our cloud services . employee compensation and related costs include cash compensation and benefits to employees and associated overhead costs . we expect cost of subscription revenue to increase in absolute dollars , but to remain relatively consistent as a percentage of subscription revenue , relative to the extent of the growth of our business . cost of services . cost of services revenue consists primarily of employee compensation costs directly associated with delivery of professional services and training , costs of third-party integrators and other associated overhead costs . we expect cost of services revenue to decrease in absolute dollars relative to the decrease of our services business . gross profit and gross margin gross profit , or revenue less cost of revenue , has been and will continue to be affected by various factors , including the mix of cloud-based subscription customers , the costs associated with supporting our cloud solution , the extent to which we expand our customer support team and the extent to which we can increase the efficiency of our technology and infrastructure though technological improvements . we expect our gross profit to increase in absolute dollars . we expect our gross margin to increase over time as compared to the rates we delivered prior to the impact of covid , as subscription revenue becomes a larger proportion of revenue , and as we increase average arr per device . operating expenses sales and marketing . sales and marketing expenses consist primarily of employee compensation costs , sales commissions , costs of general marketing and promotional activities , travel-related expenses and allocated overhead . sales commissions earned by our sales force are deferred and amortized over the period of benefit , which is estimated to be 5 years . we expect our sales and marketing expenses to increase on an absolute dollar basis as we expand our sales personnel and marketing efforts . research and development . research and development expenses consist primarily of personnel costs and allocated overhead . we will continue to invest in innovation so that we can offer our customers new solutions and enhance our existing solutions . see “ business — research and development ” for more information . we expect such investment to increase on an absolute dollar basis as our business grows . general and administrative . general and administrative expenses consist primarily of employee compensation costs for corporate personnel , such as those in our executive , human resource , facilities , accounting and finance , legal and compliance , and information technology departments . in addition , general and administrative expenses include acquisition-related expenses which primarily consist of third-party expenses , such as legal and accounting fees , and adjustments to contingent consideration . general and administrative expenses also include costs incurred in secondary offerings . we expect our general and administrative expenses to increase on a dollar basis as our business grows , particularly as we continue to invest in technology infrastructure and expand our operations globally . also , we incur additional general and administrative expenses as a result of operating as a public company , including costs to comply with the rules and regulations applicable to companies listed on a national securities exchange , costs related to compliance and reporting obligations pursuant to the rules and regulations of the sec , and increased expenses for insurance , investor relations and accounting expenses . amortization . amortization expense primarily consists of amortization of acquired trademarks , customer relationships and developed technology . 79 interest expense , net interest expense , net consists primarily of interest payments on our outstanding borrowings under our credit facilities as well as the amortization of associated deferred financing costs . see “ liquidity and capital resources — credit facilities . ” story_separator_special_tag to support our continued growth , $ 6.1 million in additional expenses as a result of operating as a public company , a $ 5.2 million increase in acquisition-related expenses , a $ 1.2 million increase in stock-based compensation expense and a $ 0.8 million increase in allowance for bad debt and returns , partially offset by a $ 1.0 million reduction to contingent consideration . the remainder of the cost increase is primarily related to costs to support the growth in business and headcount . general and administrative . general and administrative expenses increased by $ 9.7 million , or 44 % , for the year ended december 31 , 2019 compared to the year ended december 31 , 2018. the increase was primarily due to an increase of $ 3.5 million in employee compensation costs primarily related to higher headcount to support our continued growth and an increase of $ 3.0 million in costs of professional services comprised primarily of legal and accounting fees driven by the 2019 acquisitions of zuludesk and digita and general growth in the company . in addition , charitable 85 contributions increased by $ 0.9 million . the remainder of the cost increase related to costs to support the growth in business and headcount of approximately $ 2.3 million . amortization expense . amortization expense increased by $ 0.2 million , or 1 % , for the year ended december 31 , 20120 compared to the year ended december 31 , 2019. the increase was due to additional intangibles that were acquired in 2020 and july 2019. amortization expense . amortization expense increased by $ 0.9 million , or 4 % , for the year ended december 31 , 2019 compared to the year ended december 31 , 2018. the increase was due to additional intangibles that were acquired in 2019. interest expense , net ​ replace_table_token_12_th ​ interest expense , net decreased by $ 10.7 million , or 50 % , for the year

loss on extinguishment of debt upon closing of the ipo , we repaid $ 205.0 million of the principal amount of the prior term loan facility and recorded a loss on extinguishment of debt of $ 5.2 million for the prepayment penalty and write off of debt issuance costs . foreign currency transaction gain ( loss ) our reporting currency is the u.s. dollar . the functional currency of all our international operations is the u.s. dollar . the assets , liabilities , revenues and expenses of our foreign operations are remeasured in accordance with asc topic 830 , foreign currency matters . remeasurement adjustments are recorded as foreign currency transaction gains ( losses ) in the consolidated statement of operations . income tax benefit income tax benefit consists primarily of income taxes related to u.s. federal and state income taxes and income taxes in foreign jurisdictions in which we conduct business . other income other income consists primarily of sublease rental income . the sublease was terminated in the second quarter of 2020 . 80 results of operations the following table sets forth our consolidated statements of operations data for the periods indicated : ​ replace_table_token_4_th ​ ( 1 ) includes stock-based compensation as follows : replace_table_token_5_th ​ 81 ( 2 ) includes depreciation expense as follows : replace_table_token_6_th ​ ( 3 ) includes acquisition-related expense as follows : replace_table_token_7_th ​ general and administrative also includes a digita earnout benefit ( expense ) of $ 1.0 million and $ ( 0.2 ) million for the years ended december 31 , 2020 and 2019 , respectively . 82 the following table sets forth our consolidated statements of operations data expressed as a percentage of total revenue for the periods indicated : ​ replace_table_token_8_th ​ comparison of the years ended december 31 , 2020 , 2019 and 2018 revenue ​ replace_table_token_9_th ​ total revenue increased by $ 65.4 million , or 32 % , for the year ended december 31 , 2020 compared to the year ended december 31 , 2019. overall revenue increased as a result of higher subscription revenue , partially offset by lower services and license revenue .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```loss on extinguishment of debt upon closing of the ipo , we repaid $ 205.0 million of the principal amount of the prior term loan facility and recorded a loss on extinguishment of debt of $ 5.2 million for the prepayment penalty and write off of debt issuance costs . foreign currency transaction gain ( loss ) our reporting currency is the u.s. dollar . the functional currency of all our international operations is the u.s. dollar . the assets , liabilities , revenues and expenses of our foreign operations are remeasured in accordance with asc topic 830 , foreign currency matters . remeasurement adjustments are recorded as foreign currency transaction gains ( losses ) in the consolidated statement of operations . income tax benefit income tax benefit consists primarily of income taxes related to u.s. federal and state income taxes and income taxes in foreign jurisdictions in which we conduct business . other income other income consists primarily of sublease rental income . the sublease was terminated in the second quarter of 2020 . 80 results of operations the following table sets forth our consolidated statements of operations data for the periods indicated : ​ replace_table_token_4_th ​ ( 1 ) includes stock-based compensation as follows : replace_table_token_5_th ​ 81 ( 2 ) includes depreciation expense as follows : replace_table_token_6_th ​ ( 3 ) includes acquisition-related expense as follows : replace_table_token_7_th ​ general and administrative also includes a digita earnout benefit ( expense ) of $ 1.0 million and $ ( 0.2 ) million for the years ended december 31 , 2020 and 2019 , respectively . 82 the following table sets forth our consolidated statements of operations data expressed as a percentage of total revenue for the periods indicated : ​ replace_table_token_8_th ​ comparison of the years ended december 31 , 2020 , 2019 and 2018 revenue ​ replace_table_token_9_th ​ total revenue increased by $ 65.4 million , or 32 % , for the year ended december 31 , 2020 compared to the year ended december 31 , 2019. overall revenue increased as a result of higher subscription revenue , partially offset by lower services and license revenue .
```    
 Suspicious Activity Report : see “ risk factors — risks relating to our 71 business — the covid-19 pandemic could materially adversely affect our business , operating results , financial condition and prospects ” for additional information . key factors affecting our performance our historical financial performance has been , and we expect our financial performance in the future to be , driven by our ability to : attract new customers . our ability to attract new customers is dependent upon a number of factors , including the effectiveness of our pricing and solutions , the features and pricing of our competitors ' offerings , the effectiveness of our marketing efforts , the effectiveness of our channel partners in selling , marketing and deploying our software solutions and the growth of the market for apple devices and services for smbs and enterprises . sustaining our growth requires continued adoption of our platform by new customers . we intend to continue to invest in building brand awareness as we further penetrate our addressable markets . we intend to expand our customer base by continuing to make significant and targeted investments in our direct sales and marketing to attract new customers and to drive broader awareness of our software solutions . expand within our customer base . our ability to increase revenue within our existing customer base is dependent upon a number of factors , including their satisfaction with our software solutions and support , the features and pricing of our competitors ' offerings and our ability to effectively enhance our platform by developing new products and features and addressing additional use cases . often our customers will begin with a small deployment and then later expand their usage more broadly within the enterprise as they realize the benefits of our platform . we believe that our “ land and expand ” business model allows us to efficiently increase revenue from our existing customer base . we intend to continue to invest in enhancing awareness of our software solutions , creating additional use cases , and developing more products , features , and functionality , which we believe are important factors to expand usage of our software solutions by our existing customer base . we believe our ability to retain and expand usage of our software solutions by our existing customer base is evidenced by our dollar-based net retention rate . sustain product innovation and technology leadership . our success is dependent on our ability to sustain product innovation and technology leadership in order to maintain our competitive advantage . we believe that we have built a highly differentiated platform and we intend to further extend the adoption of our platform through additional innovation . while sales of subscriptions to our jamf pro product account for most of our revenue , we intend to continue to invest in building additional products , features and functionality that expand our capabilities and facilitate the extension of our platform to new use cases . our future success is dependent on our ability to successfully develop , market and sell additional products to both new and existing customers . for example , in 2018 , we introduced jamf connect to provide users with a seamless connection to corporate resources using a single identity and in 2019 we introduced jamf protect to extend apple 's security and privacy model to enterprise teams by creating unprecedented visibility into macos fleets through customized remote monitoring and threat detection and prevention . continue investment in growth . our ability to effectively invest for growth is dependent upon a number of factors , including our ability to offset anticipated increases in operating expenses with revenue growth , our ability to spend our research and development budget efficiently or effectively on compelling innovation and technologies , our ability to accurately predict costs and our ability to maintain our corporate culture as our headcount expands . we plan to continue investing in our business so we can capitalize on our market opportunity . we intend to grow our sales team to target expansion within our midmarket and enterprise customers and to attract new customers . we expect to continue to make focused investments in marketing to drive brand awareness and enhance the effectiveness of our customer acquisition model . we also intend to continue to add headcount to our research and development team to develop new and improved products , features and functionality . although these investments may increase our operating expenses and , as a result , adversely affect our operating results in the near term , we believe they will contribute to our long-term growth . continue international expansion . our international growth in any region will depend on our ability to effectively implement our business processes and go-to-market strategy , our ability to adapt to market or cultural differences , the general competitive landscape , our ability to invest in our sales and marketing channels , the maturity and 72 growth trajectory of apple devices and services by region and our brand awareness and perception . we plan to continue making investments in our international sales and marketing channels to take advantage of this market opportunity while refining our go-to-market approach based on local market dynamics . while we believe global demand for our platform will increase as international market awareness of jamf grows , our ability to conduct our operations internationally will require considerable management attention and resources and is subject to the particular challenges of supporting a growing business in an environment of multiple languages , cultures , customs , legal and regulatory systems ( including with respect to data transfer and privacy ) , alternative dispute systems and commercial markets . in addition , global demand for our platform and the growth of our international operations is dependent upon the rate of market adoption of apple products in international markets . enhance our offerings via our partner network . story_separator_special_tag cost of subscription revenue consists primarily of employee compensation costs for employees associated with supporting our subscription and support and maintenance arrangements , our customer success function , and third-party hosting fees related to our cloud services . employee compensation and related costs include cash compensation and benefits to employees and associated overhead costs . we expect cost of subscription revenue to increase in absolute dollars , but to remain relatively consistent as a percentage of subscription revenue , relative to the extent of the growth of our business . cost of services . cost of services revenue consists primarily of employee compensation costs directly associated with delivery of professional services and training , costs of third-party integrators and other associated overhead costs . we expect cost of services revenue to decrease in absolute dollars relative to the decrease of our services business . gross profit and gross margin gross profit , or revenue less cost of revenue , has been and will continue to be affected by various factors , including the mix of cloud-based subscription customers , the costs associated with supporting our cloud solution , the extent to which we expand our customer support team and the extent to which we can increase the efficiency of our technology and infrastructure though technological improvements . we expect our gross profit to increase in absolute dollars . we expect our gross margin to increase over time as compared to the rates we delivered prior to the impact of covid , as subscription revenue becomes a larger proportion of revenue , and as we increase average arr per device . operating expenses sales and marketing . sales and marketing expenses consist primarily of employee compensation costs , sales commissions , costs of general marketing and promotional activities , travel-related expenses and allocated overhead . sales commissions earned by our sales force are deferred and amortized over the period of benefit , which is estimated to be 5 years . we expect our sales and marketing expenses to increase on an absolute dollar basis as we expand our sales personnel and marketing efforts . research and development . research and development expenses consist primarily of personnel costs and allocated overhead . we will continue to invest in innovation so that we can offer our customers new solutions and enhance our existing solutions . see “ business — research and development ” for more information . we expect such investment to increase on an absolute dollar basis as our business grows . general and administrative . general and administrative expenses consist primarily of employee compensation costs for corporate personnel , such as those in our executive , human resource , facilities , accounting and finance , legal and compliance , and information technology departments . in addition , general and administrative expenses include acquisition-related expenses which primarily consist of third-party expenses , such as legal and accounting fees , and adjustments to contingent consideration . general and administrative expenses also include costs incurred in secondary offerings . we expect our general and administrative expenses to increase on a dollar basis as our business grows , particularly as we continue to invest in technology infrastructure and expand our operations globally . also , we incur additional general and administrative expenses as a result of operating as a public company , including costs to comply with the rules and regulations applicable to companies listed on a national securities exchange , costs related to compliance and reporting obligations pursuant to the rules and regulations of the sec , and increased expenses for insurance , investor relations and accounting expenses . amortization . amortization expense primarily consists of amortization of acquired trademarks , customer relationships and developed technology . 79 interest expense , net interest expense , net consists primarily of interest payments on our outstanding borrowings under our credit facilities as well as the amortization of associated deferred financing costs . see “ liquidity and capital resources — credit facilities . ” story_separator_special_tag to support our continued growth , $ 6.1 million in additional expenses as a result of operating as a public company , a $ 5.2 million increase in acquisition-related expenses , a $ 1.2 million increase in stock-based compensation expense and a $ 0.8 million increase in allowance for bad debt and returns , partially offset by a $ 1.0 million reduction to contingent consideration . the remainder of the cost increase is primarily related to costs to support the growth in business and headcount . general and administrative . general and administrative expenses increased by $ 9.7 million , or 44 % , for the year ended december 31 , 2019 compared to the year ended december 31 , 2018. the increase was primarily due to an increase of $ 3.5 million in employee compensation costs primarily related to higher headcount to support our continued growth and an increase of $ 3.0 million in costs of professional services comprised primarily of legal and accounting fees driven by the 2019 acquisitions of zuludesk and digita and general growth in the company . in addition , charitable 85 contributions increased by $ 0.9 million . the remainder of the cost increase related to costs to support the growth in business and headcount of approximately $ 2.3 million . amortization expense . amortization expense increased by $ 0.2 million , or 1 % , for the year ended december 31 , 20120 compared to the year ended december 31 , 2019. the increase was due to additional intangibles that were acquired in 2020 and july 2019. amortization expense . amortization expense increased by $ 0.9 million , or 4 % , for the year ended december 31 , 2019 compared to the year ended december 31 , 2018. the increase was due to additional intangibles that were acquired in 2019. interest expense , net ​ replace_table_token_12_th ​ interest expense , net decreased by $ 10.7 million , or 50 % , for the year

