Atlassian co-founders Mike Cannon-Brookes and Scott Farquhar have added around $3.2 billion each to their wealth after the software company’s shares surged more than 23 per cent in after hours trading on Wall Street.
The Nasdaq-listed firm reported $US3.5 billion in revenue for the full fiscal year, up 26 per cent from the year prior, and a net loss of $486.8 million, compared with a net loss of $519.5 million for fiscal year 2022.In a letter to shareholders, Mr Farquhar and Mr Cannon-Brookes reiterated their promise to investors to improve margins in the 2025 financial year, after, introducing tougher employee performance metrics and restructuring its engineering organisation.
The company now has more than 250,000 customers, adding 20,000 customers during the fiscal year, although it said free users were taking longer to convert to paid accounts due to macroeconomic conditions. “Those [Atlassian AI] features are now in the hands of the order of thousands of customers, and we are working every single day to make sure that those features deliver customer value and actually used first.”