Atlassian has pushed through the clouds over the tech sector, with shares surging after the Australian software giant revealed fourth quarter and annual results ahead of market expectations and the poaching of a top Microsoft executive.
Atlassian – which was famously profitable from early on in its private start-up years – lost $US614.1 million for the full year, compared to a $US696.3 million loss in 2021. In the fourth quarter, it lost $US105.5 million, compared to $US31.1 millionAdvertisement Co-CEO and founder Mike Cannon-Brookes. Atlassian doesn’t expect to lose customers as companies cut costs.“We firmly believe that Atlassian is uniquely positioned, having deep-seated momentum and a differentiated business model. This gives us the confidence to make incremental investments – despite the current environment,” the CEOs wrote.
In guidance for the next quarter, Atlassian forecast revenue in the range of $US795 million to $US810 million, and a widening loss per share of $US1.17 to $US1.16 – compared to a loss of $US0.41 in the fourth quarter. “We seized opportunities during the economic turbulence of 2008-2009 to scoop up talent that wouldn’t have been available otherwise and broadened our customer base by offering $10 starter licenses for our products,” they wrote.
It said it closed the financial year with over 200,000 cloud customers and cloud revenue growth in the fourth quarter of 55 per cent year-over-year.
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