Photo Credit: Dmitry Baranovskiy/Flickr.com
In December 2015, legitimate Billion Dollar Unicorn and collaboration software maker Atlassian (NASDAQ: TEAM) had a successful IPO that valued it at $5.8 billion, and today its stock is trading in the public market at almost double that valuation.
Atlassian’s Financials
In its most recent first quarter results, Atlassian had a strong quarter beating analyst estimates. It reported revenue of $193.8 million, up 42%. Net loss widened to $14 million or $0.06 per share from $2.6 million or $0.01 per share a year ago. Non IFRS net income increased to $29.9 million or $0.12 per share from $22.7 million or $0.10 per share last year. Analysts expected adjusted earnings of $0.09 per share on revenue of $185.8 million.
By segment, revenues from subscription rose 69% to $84.4 million, maintenance grew 24% to $76.3 million, perpetual license increased 14% to $19.9 million, and other revenues 74% grew to $13.2 million.
Atlassian ended the first quarter of fiscal 2018 with a total customer count of 107,746, up 64%. It added 4,246 net new customers in the quarter. The customer count benefited from a one-time increase of 14,263 customers primarily due to Bitbucket Cloud pricing changes made in May 2017, as Atlassian moved from a tiered pricing model to per-user pricing. It ended the quarter with cash and short-term investments of $613.5 million.
For the second quarter, Atlassian expects revenue to be in the range of $203 million to $205 million. Net loss per diluted share is expected to be approximately ($0.08) on an IFRS basis, and net income per diluted share is expected to be approximately of $0.12 on a non-IFRS basis. Analysts expect earnings of $0.42 to $0.44 per share on revenue of $831 million.
For the fiscal year 2017, Atlassian had reported annual revenues of $619.9 million, up 36%. Net loss was $42.5 million or $0.19 per share compared with net income of $4.3 million or $0.02 per share in 2016.
