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Atlassian (TEAM) Q4 Earnings and Revenues Beat Estimates
ZACKS· 2024-08-01 22:47
Financial Performance - Atlassian reported quarterly earnings of $0.66 per share, exceeding the Zacks Consensus Estimate of $0.59 per share, and up from $0.57 per share a year ago, representing an earnings surprise of 11.86% [1] - The company posted revenues of $1.13 billion for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 0.34%, and an increase from $939.1 million year-over-year [1] - Over the last four quarters, Atlassian has consistently surpassed consensus EPS and revenue estimates [1] Stock Performance - Atlassian shares have declined approximately 25.8% since the beginning of the year, contrasting with the S&P 500's gain of 15.8% [2] - The current Zacks Rank for Atlassian is 3 (Hold), indicating expected performance in line with the market in the near future [4] Future Outlook - The consensus EPS estimate for the upcoming quarter is $0.70 on revenues of $1.16 billion, and for the current fiscal year, it is $3.28 on revenues of $5.15 billion [4] - The estimate revisions trend for Atlassian is mixed, and future changes in estimates will be closely monitored following the recent earnings report [4] Industry Context - The Internet - Software industry, to which Atlassian belongs, is currently ranked in the top 36% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [5] - Another company in the same industry, Bumble Inc., is expected to report quarterly earnings of $0.15 per share, reflecting a year-over-year increase of 200% [5][6]
Atlassian (TEAM) - 2024 Q4 - Annual Results
2024-08-01 20:15
Revenue Growth - Quarterly revenue reached $1,132 million, representing a 20% year-over-year increase[1] - Subscription revenue for the quarter was $1,069 million, up 34% year-over-year[1] - Total revenue for fiscal year 2024 was $4.4 billion, a 23% increase from $3.5 billion in fiscal year 2023[6] - Total revenues for the three months ended June 30, 2024, were $1,131,590, compared to $939,098 for the same period in 2023, representing a year-over-year increase of approximately 20.6%[20] - Subscription revenue for the fiscal year ended June 30, 2024, reached $3,924,389, up from $2,922,576 in 2023, indicating a growth of about 34.3%[20] - Atlassian expects total revenue for Q1 FY25 to be between $1,149 million and $1,157 million, with cloud revenue growth projected at approximately 27% year-over-year[10] - Atlassian is targeting a total revenue growth of approximately 16% for fiscal year 2025[11] Customer Growth - The number of customers with over $10,000 in Cloud annualized recurring revenue increased by 18% year-over-year, totaling 45,842[8] - The number of customers spending over $1 million annually grew by 48% year-over-year, indicating strong enterprise momentum[8] - The number of customers with Cloud ARR greater than $10,000 is defined as organizations with unique domains and an active Cloud subscription for two or more seats[18] Financial Performance - Operating income for fiscal year 2024 was $1,014.1 million, with a non-GAAP operating margin of 23%[6] - Gross profit for the three months ended June 30, 2024, was $914,085, compared to $769,322 in 2023, reflecting an increase of approximately 18.8%[20] - The net loss for the three months ended June 30, 2024, was $196,919, compared to a net loss of $58,952 in the same period of 2023, showing a significant increase in losses[20] - Operating loss for the three months ended June 30, 2024, was $(66,950), compared to $(50,389) in the same period of 2023, reflecting a worsening of approximately 32.9%[20] - For the fiscal year ended June 30, 2024, Atlassian reported total revenues of $4,358,603,000, a 23% increase from $3,534,647,000 in the previous fiscal year[28] - The net loss for the three months ended June 30, 2024, was $196,919,000, compared to a net loss of $58,952,000 for the same period in 2023[30] - Operating cash flow for the fiscal year ended June 30, 2024, was $1,448,159,000, up from $868,111,000 in the previous year, representing a 67% increase[30] - Atlassian's GAAP gross profit for the fiscal year ended June 30, 2024, was $3,555,108,000, compared to $2,900,882,000 in 2023, reflecting a gross margin of 82%[30] - The company achieved a non-GAAP net income of $762,409,000 for the fiscal year ended June 30, 2024, compared to $492,255,000 in the previous year, marking a 55% increase[30] - The company reported a free cash flow of $1,415,582,000 for the fiscal year ended June 30, 2024, compared to $842,459,000 in the previous year[30] Cash and Assets - Free cash flow for the fourth quarter was $413 million, with a free cash flow margin of 37%[5] - Cash and cash equivalents as of June 30, 2024, were $2,176,930, compared to $2,102,550 as of June 30, 2023, representing an increase of approximately 3.5%[23] - Total current assets increased to $3,076,264 as of June 30, 2024, from $2,736,364 in 2023, marking a growth of about 12.4%[23] - Total liabilities as of June 30, 2024, were $4,179,282, compared to $3,452,107 in 2023, indicating an increase of approximately 21.1%[23] - Atlassian's cash, cash equivalents, and restricted cash at the end of the period was $2,178,122,000, compared to $2,103,915,000 at the beginning of the period[25] - The company’s total cash used in investing activities for the fiscal year ended June 30, 2024, was $963,746,000, compared to $1,258,000 in the previous year[25] Market Position - The company achieved FedRAMP "In Process" designation, enhancing its position in the U.S. public sector cloud market[7] - The company plans to maintain a non-GAAP gross margin of 83.5% for the fiscal year ending June 30, 2025[36]
Atlassian: A Cloud-Driven Collaboration Leader Poised For AI-Powered Growth
Seeking Alpha· 2024-07-31 04:41
Sundry Photography QOE Capital: Co-Authored by Analyst Antonio Mello Investment Thesis Atlassian Corporation (NASDAQ:TEAM) proposes a compelling long opportunity in the rapidly developing enterprise software market. As a leading provider of collaboration and productivity tools, Atlassian has generated consistent growth, strong market positioning, and a drive and commitment to innovation. The company's unique business model, along with its strategic focus on cloud migration and artificial intelligence, p ...
Atlassian (TEAM) Earnings Expected to Grow: Should You Buy?
ZACKS· 2024-07-25 15:07
Core Viewpoint - Atlassian is expected to report a year-over-year increase in earnings and revenues, but the actual stock price movement will depend on how the results compare to consensus estimates [1] Earnings Expectations - The consensus estimate for Atlassian's quarterly earnings is $0.59 per share, reflecting a year-over-year change of +3.5% [2] - Revenues are projected to be $1.13 billion, which is an increase of 20.1% from the same quarter last year [2] Estimate Revisions - The consensus EPS estimate has been revised down by 23.96% over the last 30 days, indicating a bearish sentiment among analysts [2] - The Most Accurate Estimate for Atlassian is lower than the Zacks Consensus Estimate, resulting in an Earnings ESP of -1.86% [5][6] Earnings Surprise Prediction - The Zacks Earnings ESP model suggests that a positive Earnings ESP is a strong predictor of an earnings beat, especially when combined with a Zacks Rank of 1, 2, or 3 [4] - Atlassian currently holds a Zacks Rank of 3, making it challenging to predict an earnings beat conclusively [5][6] Historical Performance - In the last reported quarter, Atlassian had an earnings surprise of +45.90%, beating the consensus estimate of $0.61 per share by reporting $0.89 [7] - The company has beaten consensus EPS estimates in each of the last four quarters [7] Market Context - The overall market reaction to earnings reports can be influenced by various factors beyond just the earnings beat or miss [8] - Other stocks in the software industry, such as Compass, are also reporting earnings, with different expectations and revisions impacting their outlooks [9]
Atlassian To Benefit From The 'Next Wave Of Cloud Growth', Says Bullish Analyst
Benzinga· 2024-07-02 15:15
Loading...Loading...Shares of Atlassian Corp TEAM were climbing in early trading on Tuesday.Enterprise customers are likely to drive "the next wave of cloud migrations," triggering accelerated cloud growth, according to Piper Sandler.The Analyst: Rob Owens upgraded the rating for Atlassian from Neutral to Overweight, while raising the price target from $200 to $225.The Thesis: While currently only 30% of the company's cloud revenues are from enterprise customers, 82% of the remaining data center seats are e ...
1 Former Software Stock Darling Keeps Tanking -- Time to Buy the Dip?
The Motley Fool· 2024-06-27 08:40
Atlassian, once a great growth stock story, is now up a meager 25% over the past five years.Work management software leader Atlassian (TEAM 2.51%) has been a great example of a business that has grown in grand fashion, but delivered little in the way of positive shareholder returns. Share prices are down well over 20% so far in 2024, doing little to reverse what has been a lackluster story in the wake of the pandemic and cloud software stock meltdown.That said, Atlassian has made plenty of other stakeholder ...
Atlassian (TEAM) Surges 3.1%: Is This an Indication of Further Gains?
ZACKS· 2024-06-24 10:15
Atlassian (TEAM) shares rallied 3.1% in the last trading session to close at $162.46. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 9.6% loss over the past four weeks.Atlassian’s stock appreciated on continued optimism surrounding the demand for remote working tools amid growing hybrid working trends across the world. Improvement in product quality and performance, multiple product launches, transparent pri ...
1 Artificial Intelligence (AI) Stock to Buy Hand Over Fist, According to Wall Street
fool.com· 2024-05-30 10:20
Core Insights - Atlassian has entered the AI era, enhancing its collaboration software with AI tools that are rapidly adopted by users [1][2] - The company reported a significant acceleration in revenue growth for Q3 fiscal 2024, achieving a total revenue of $1.19 billion, a 30% year-over-year increase [5][6] - Analysts are bullish on Atlassian stock, with no recommendations for selling, indicating strong market confidence [7][8] AI Integration - Atlassian's flagship products, Jira and Confluence, are being enhanced with AI tools, including an AI-powered search function and virtual agents for customer queries [2][3] - Atlassian Intelligence, launched in December, has already been adopted by 30,000 of its 300,000 customers, with 77% reporting time savings [4] Financial Performance - Q3 revenue growth was driven by cloud revenue of $703 million (up 31%) and data center revenue of $364 million (up 64%) [5][6] - Operating expenses increased only 5.4%, leading to a net income of $12.7 million, a significant improvement from a $209 million net loss in the previous year [6] Market Outlook - Atlassian is projected to generate over $4 billion in total revenue for fiscal 2024, with ambitions to double that to $10 billion in the next five years [7] - The company's stock is currently trading 63% below its all-time high, presenting a potential long-term buying opportunity [7][8]
Is the Options Market Predicting a Spike in Atlassian (TEAM) Stock?
zacks.com· 2024-05-24 19:46
Investors in Atlassian Corporation (TEAM) need to pay close attention to the stock based on moves in the options market lately. That is because the Jun 21, 2024 $85.00 Call had some of the highest implied volatility of all equity options today.What is Implied Volatility?Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could ...
PERFORMANCE TEAM - A MAERSK COMPANY & PROLOGIS LAUNCH NEW EV TRUCK CHARGING DEPOT, POWERED BY NATION'S LARGEST EV TRUCK MICROGRID
prnewswire.com· 2024-05-23 13:00
The 9 MW depot can charge 96 heavy-duty trucks simultaneously; project built in just five months through creative, collaborative partnership.LOS ANGELES, May 23, 2024 /PRNewswire/ -- In a significant step toward building out California's infrastructure for clean transportation, Prologis, Inc. (NYSE: PLD) and Performance Team – A Maersk Company, announced today the launch of Southern California's largest heavy-duty electric vehicle (EV) charging depot, located near the Ports of Los Angeles and Long Beach and ...