Atlassian (TEAM)

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Atlassian acquires Rewatch as it gets into AI meeting bots
TechCrunch· 2024-08-29 20:30
Atlassian on Thursday announced that it has acquired Rewatch, an AI-powered meeting notetaker, screen recording tool and video hub. The company plans to integrate Rewatch into Loom, the asynchronous video messaging platform it acquired for $975 million last October. But maybe even more importantly, it also plans to integrate it into its recently launched Rovo AI platform so that meeting notes can quickly become Jira issues, for example, and the transcripts become searchable within the overall business conte ...
Watch These Atlassian Price Levels as Stock Regains Momentum
Investopedia· 2024-08-19 03:00
Key TakeawaysShares in Atlassian gained 9% last week and have recovered a chunk of the big losses posted after the collaboration software maker issued a disappointing revenue outlook earlier this month.Since recording its 2024 high in January, Atlassian shares have traded within an orderly descending channel, a chart pattern that indicates a downward trend, but can also signal a trend reversal upon a breakout.Atlassian shares may test higher chart levels around $168, $187, and $215, while finding support du ...
Atlassian (TEAM) - 2024 Q4 - Annual Report
2024-08-16 20:05
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended June 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-37651 Atlassian Corporation (Exact name of registrant as specified in its charter) Delaware 88-3940934 (State or other jurisdiction of incorporation or organization) (I.R. ...
NOTHING BUNDT CAKES® AND POP-TARTS® TEAM UP FOR 'CRAZY GOOD' CAKE FLAVOR
Prnewswire· 2024-08-15 12:04
New limited-time Bundtlet flavor features baked-in Pop-Tarts® piecesDALLAS, Aug. 15, 2024 /PRNewswire/ -- Nothing Bundt Cakes and Pop-Tarts®, known for its iconic toaster pastries, have joined forces to release a "Crazy Good" new cake flavor, Frosted Strawberry Pop-Tarts, available Aug. 19-Sept. 1, while supplies last, at the brand's 600-plus bakeries nationwide.Nothing Bundt Cakes’ Frosted Strawberry Pop-Tarts® flavor is available only in the brand’s personal-size Bundtlet and features strawberry cake bake ...
Atlassian Stock Plunges as Business Software Company Issues Soft Guidance
Investopedia· 2024-08-02 17:36
Key TakeawaysThe midpoint of Atlassian's outlook for current-quarter revenue came up short of estimates, and it's guidance for full-year growth is below last year's growth.The business software company's fiscal 2024 fourth-quarter adjusted earnings and revenue were in line with forecasts.Atlassian announced that Chief Sale Officer Kevin Egan was leaving the company to pursue other opportunities. Shares of Atlassian (TEAM) sank as the business software provider posted disappointing guidance and announced its ...
Why Atlassian Stock Plunged to 52-Week Lows Today
The Motley Fool· 2024-08-02 16:16
Growth is slowing and AI expenses have gone up.Shares of enterprise software company Atlassian (TEAM -17.39%) plunged on Friday after the company reported financial results for its fiscal fourth quarter of 2024, ended June 30. As of 11:30 a.m. ET, Atlassian stock was down 16% and had hit new 52-week lows.Here are some of the problemsFor Atlassian, investors are concerned about both the Q4 numbers and the financial guidance for its fiscal 2025. Management had guided for Q4 revenue of $1.135 billion at most. ...
These Analysts Revise Their Forecasts On Atlassian After Q4 Results
Benzinga· 2024-08-02 13:05
Atlassian Corporation TEAM reported better-than-expected earnings for its fourth quarter on Thursday.The company posted quarterly earnings of 66 cents per share which beat the analyst consensus estimate of 60 cents per share. The company reported quarterly sales of $1.131 billion which beat the analyst consensus estimate of $1.130 billion."We announced transformative innovations for our customers like Rovo, the latest human-AI technology reshaping the way we work. We achieved significant milestones like Fed ...
Atlassian (TEAM) Q4 Earnings Beat Estimates, Revenues Match
ZACKS· 2024-08-02 13:01
Atlassian (TEAM) reported fourth-quarter fiscal 2024 results, wherein earnings beat the Zacks Consensus Estimate and revenues matched the same. Its non-GAAP earnings per share of 66 cents beat the Zacks Consensus Estimate of 59 cents. The figure jumped 15.8% from the year-ago quarter’s non-GAAP earnings of 57 cents per share, mainly driven by strong top-line growth.TEAM’s fiscal fourth-quarter revenues climbed 20.5% year over year to $1.13 billion and came in line with the Zacks Consensus Estimate. The top ...
Atlassian (TEAM) - 2024 Q4 - Earnings Call Transcript
2024-08-02 01:06
Financial Data and Key Metrics Changes - Atlassian generated $4.4 billion in revenue for FY24, with over $1.4 billion in free cash flow, surpassing 300,000 customers [9] - The company reported a 31% year-over-year growth in Cloud revenue for Q4, slightly below the guided range of 32% [25][29] - Non-GAAP operating margin for FY25 is expected to be approximately 21.5%, about 200 basis points lower than FY24 due to significant outperformance in data center and marketplace revenue related to server support [53] Business Line Data and Key Metrics Changes - The company has over 500 customers spending more than $1 million annually, which is up 48% year-over-year [20] - Cloud revenue growth is expected to decelerate in FY25, primarily due to less contribution from server migrations [54] - The integration of Loom is expected to contribute about 1.5 to 2 points to FY25 cloud revenue growth, although it may be slightly dilutive to operating margins [65] Market Data and Key Metrics Changes - Atlassian has a $67 billion addressable market opportunity, with $14 billion within its existing enterprise customer base [18] - The company is focusing on migrations from data center to cloud as a key driver for future revenue growth [19] Company Strategy and Development Direction - Atlassian aims to accelerate its path to surpass $10 billion in annual revenue by leveraging its enterprise-grade platform capabilities and innovations [11] - The company is committed to evolving its go-to-market strategy to better serve enterprise customers, including hiring seasoned enterprise sales representatives [30][33] - The focus on AI and analytics is seen as a significant opportunity for future growth [19][22] Management's Comments on Operating Environment and Future Outlook - Management acknowledges macroeconomic uncertainties and execution risks but remains confident in achieving a long-term growth rate of over 20% [17][50] - The transition to cloud is viewed as a critical journey for many large customers, with management expressing optimism about future migrations [40] Other Important Information - This earnings call marks Scott Farquhar's last as co-CEO, with plans for him to continue contributing as a board member [12] - The company has successfully migrated millions of users from Server to Cloud and Data Center, completing a 3.5-year journey [9] Q&A Session Summary Question: Concerns about FY25 revenue guidance - Management explained that FY25 guidance reflects a more conservative and risk-adjusted view due to macroeconomic uncertainties and execution risks [29][50] Question: Impact of Loom on revenue - Loom is expected to contribute 1.5 to 2 points to FY25 cloud revenue growth, although it may slightly dilute operating margins [65] Question: Transition in go-to-market strategy - Management is focused on evolving the go-to-market strategy to better serve enterprise customers and is actively searching for a new CRO [30][48] Question: Customer response to product changes - The integration of Jira Work Management and Jira Software has been positively received, allowing for better collaboration between technical and non-technical teams [42][44] Question: FedRAMP progress and federal deals - Management indicated that the FedRAMP designation is crucial for unlocking federal deals and that many large customers are on a multi-year journey to migrate to the cloud [39][40]
Compared to Estimates, Atlassian (TEAM) Q4 Earnings: A Look at Key Metrics
ZACKS· 2024-08-02 00:00
Core Insights - Atlassian reported $1.13 billion in revenue for the quarter ended June 2024, marking a year-over-year increase of 20.5% and an EPS of $0.66 compared to $0.57 a year ago [1] - The reported revenue met the Zacks Consensus Estimate, with a surprise of +0.34%, while the EPS exceeded expectations by +11.86% [1] Revenue Breakdown - Subscription revenue was $1.07 billion, matching the average estimate and reflecting a +33.7% change year-over-year [4] - Other revenue reached $62.72 million, surpassing the average estimate of $53.41 million, with a year-over-year increase of +17.3% [5] - Cloud revenue was $738.01 million, slightly below the estimated $742.79 million, but still showing a +31% change compared to the previous year [6] - Data Center revenue totaled $326.66 million, close to the estimated $327.64 million, with a significant year-over-year increase of +40.7% [7] - Marketplace and other revenue was $66.92 million, exceeding the average estimate of $57.28 million, representing a +16.4% change year-over-year [8] Customer Metrics - The total number of customers stood at 300,000, slightly below the average estimate of 308,187 based on three analysts [3] Stock Performance - Atlassian's shares have returned -3.1% over the past month, contrasting with the Zacks S&P 500 composite's +1.1% change, and the stock currently holds a Zacks Rank 3 (Hold) [8]