Have you looked into how Atlassian (TEAM) performed internationally during the quarter ending March 2024? Considering the widespread global presence of this company, examining the trends in international revenues is essential for assessing its financial resilience and prospects for growth.In today's increasingly interconnected global economy, a company's ability to tap into international markets can be a pivotal factor in shaping its overall financial health and growth trajectory. For investors, understandi ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 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 organizati ...

The company beat expectations for the fiscal quarter, but investors have some unanswered questions.Shares of Atlassian (TEAM -9.87%) sank on Friday after the enterprise collaboration software company reported results for its fiscal 2024 third quarter. As of 2:25 p.m. ET, Atlassian stock was down about 9.9%.A strong quarter, but...In the period, which ended March 31, Atlassian generated revenue of almost $1.2 billion, which was up 30% year over year and ahead of the expectations of most analysts. Moreover, t ...

Atlassian (TEAM) reported stronger-than-expected third-quarter fiscal 2024 results. Its non-GAAP earnings per share of 89 cents beat the Zacks Consensus Estimate of 61 cents. The figure surged 64.8% from the year-ago quarter’s non-GAAP earnings of 54 cents per share, mainly driven by double-digit year-over-year growth across segments like Cloud and Data Center.TEAM’s fiscal third-quarter revenues jumped 30% to $1.19 billion and surpassed the consensus mark of $1.10 billion. The top line was primarily driven ...

Core Insights - Atlassian reported revenue of $1.19 billion for the quarter ended March 2024, reflecting a year-over-year increase of 29.9% and surpassing the Zacks Consensus Estimate by 8.49% [1] - Earnings per share (EPS) for the quarter was $0.89, a significant increase from $0.54 in the same quarter last year, resulting in an EPS surprise of 45.90% compared to the consensus estimate of $0.61 [1] Revenue Breakdown - Total customers reached 300,000, slightly below the average estimate of 306,753 [2] - Subscription revenue was $1.07 billion, exceeding the average estimate of $1 billion, with a year-over-year growth of 40.8% [2] - Maintenance revenue was reported at $29.53 million, below the average estimate of $33.18 million, showing a significant decline of 68.7% year-over-year [2] - Other revenues amounted to $88.24 million, surpassing the average estimate of $62.65 million, with a year-over-year increase of 45.7% [2] - Cloud revenue reached $703.04 million, slightly above the estimated $694.84 million, reflecting a year-over-year growth of 31.4% [2] - Data Center revenue was $364.13 million, exceeding the average estimate of $296.55 million, with a year-over-year increase of 64.4% [2] - Server revenue was $29.72 million, below the average estimate of $30.78 million, indicating a year-over-year decline of 68.5% [2] - Marketplace and other revenues totaled $92.24 million, surpassing the average estimate of $66.54 million, with a year-over-year increase of 42.7% [2] Stock Performance - Atlassian shares have returned +3% over the past month, contrasting with the Zacks S&P 500 composite's -3% change [3] - The stock currently holds a Zacks Rank 4 (Sell), suggesting potential underperformance relative to the broader market in the near term [3]

Atlassian Corporation (NASDAQ:TEAM) Q3 2024 Earnings Conference Call April 25, 2024 5:00 PM ET Company Participants Martin Lam - Head of IR Scott Farquhar - Co-Founder and CEO Mike Cannon-Brookes - Co-Founder and CEO Joe Binz - CFO Conference Call Participants Ryan MacWilliams - Barclays Fred Havemeyer - Macquarie Sanjit Singh - Morgan Stanley Gregg Moskowitz - Mizuho Securities Michael Turrin - Wells Fargo Alex Zukin - Wolfe Research Keith Bachman - BMO Brent Thill - Jefferies Nick Altmann - Scotiabank Kas ...

Atlassian (TEAM) came out with quarterly earnings of $0.89 per share, beating the Zacks Consensus Estimate of $0.61 per share. This compares to earnings of $0.54 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 45.90%. A quarter ago, it was expected that this company would post earnings of $0.62 per share when it actually produced earnings of $0.73, delivering a surprise of 17.74%.Over the last four quarters, the company has su ...

Atlassian Q3 FY2024 Earnings Release [Financial Highlights (Q3 FY2024)](index=1&type=section&id=Third%20Quarter%20Fiscal%20Year%202024%20Financial%20Highlights%3A) The company reported strong Q3 revenue growth to $1.19 billion, improved profitability, and record free cash flow Q3 FY2024 Key Financial Metrics (YoY Comparison) | Metric | Q3 FY2024 | Q3 FY2023 | Change | | :--- | :--- | :--- | :--- | | **Total Revenue** | $1,189.1M | $915.5M | +30% | | **Subscription Revenue** | $1,071.0M | $760.7M | +41% | | **GAAP Operating Margin** | 1% | (18%) | +19 pts | | **Non-GAAP Operating Margin** | 27% | 22% | +5 pts | | **GAAP Net Income (Loss)** | $12.8M | ($209.0M) | N/A | | **Non-GAAP Net Income** | $232.5M | $138.0M | +68% | | **GAAP EPS (Diluted)** | $0.05 | ($0.81) | N/A | | **Non-GAAP EPS (Diluted)** | $0.89 | $0.54 | +65% | | **Free Cash Flow** | $554.9M | $349.7M | +59% | - The company has successfully transitioned to a cloud-majority business, with **over 300,000 customers** on its Cloud products and a **3x increase in paid cloud seats** since announcing the end-of-support for Server[2](index=2&type=chunk) - Cash, cash equivalents, and marketable securities totaled **$2.1 billion** at the end of the quarter[4](index=4&type=chunk) [CEO Transition](index=1&type=section&id=CEO%20Transition) Co-founder Scott Farquhar will step down as co-CEO, with Mike Cannon-Brookes becoming the sole CEO - Scott Farquhar will step down as co-CEO to spend more time with his family, engage in philanthropy, and support the global technology industry[3](index=3&type=chunk) - The transition is effective **August 31, 2024**, and Farquhar will continue as a Board member and special advisor[3](index=3&type=chunk) - Mike Cannon-Brookes will become the sole CEO, leading the company's mission and capitalizing on opportunities in the AI era[3](index=3&type=chunk) [Recent Business Highlights](index=3&type=section&id=Recent%20Business%20Highlights%3A) The company achieved key milestones including Marketplace sales growth, the acquisition of Optic, and product expansion - The Atlassian Marketplace surpassed **$4 billion in lifetime sales** since its 2012 inception, with over 1,800 partners and 5,700 apps[6](index=6&type=chunk) - Acquired **Optic**, an API documentation and management company, to enhance Compass and improve developer productivity[6](index=6&type=chunk) - Released **Confluence whiteboards** into general availability, offering a freeform collaboration tool integrated with Jira[6](index=6&type=chunk) - Expanded data residency to 12 geographies with the addition of India, Japan, South Korea, Switzerland, and the UK[6](index=6&type=chunk) - The number of customers with over **$10,000 in Cloud Annualized Recurring Revenue (ARR)** grew to 44,336, a **19% increase** year-over-year[6](index=6&type=chunk) [Financial Outlook (Q4 FY2024)](index=4&type=section&id=Financial%20Targets%3A) The company projects Q4 revenue between $1.12B and $1.135B with continued strong cloud and data center growth Q4 FY2024 Financial Targets | Metric | Target | | :--- | :--- | | **Total Revenue** | $1,120M - $1,135M | | **Cloud Revenue Growth (YoY)** | ~32% | | **Data Center Revenue Growth (YoY)** | 40% - 42% | | **GAAP Gross Margin** | ~81.0% | | **Non-GAAP Gross Margin** | ~83.5% | | **GAAP Operating Margin** | ~(7.0%) | | **Non-GAAP Operating Margin** | ~18.5% | Financial Statements and Reconciliations [Condensed Consolidated Statements of Operations](index=6&type=section&id=Atlassian%20Corporation%20Condensed%20Consolidated%20Statements%20of%20Operations) Q3 revenues grew 30% YoY to $1.19 billion, with a significant turnaround to positive GAAP net income Statement of Operations Highlights (Q3 FY2024 vs Q3 FY2023) | Metric (in thousands) | Q3 FY2024 | Q3 FY2023 | | :--- | :--- | :--- | | **Total Revenues** | $1,189,128 | $915,453 | | **Gross Profit** | $975,703 | $746,801 | | **Operating Income (Loss)** | $17,804 | ($161,567) | | **Net Income (Loss)** | $12,752 | ($209,037) | | **Diluted Net Income (Loss) per Share** | $0.05 | ($0.81) | [Condensed Consolidated Balance Sheets](index=7&type=section&id=Atlassian%20Corporation%20Condensed%20Consolidated%20Balance%20Sheets) Total assets grew to $5.06 billion, driven by increased goodwill, while liabilities and equity also increased Balance Sheet Highlights (in thousands) | Metric | March 31, 2024 | June 30, 2023 | | :--- | :--- | :--- | | **Cash and cash equivalents** | $1,948,978 | $2,102,550 | | **Goodwill** | $1,285,745 | $727,211 | | **Total Assets** | $5,063,265 | $4,106,779 | | **Deferred Revenue (Current)** | $1,698,639 | $1,362,736 | | **Total Liabilities** | $3,929,094 | $3,452,107 | | **Total Stockholders' Equity** | $1,134,171 | $654,672 | [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Atlassian%20Corporation%20Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) The company generated $565.4 million in net cash from operations, a significant increase from the prior year Cash Flow Summary (Q3, in thousands) | Activity | Q3 FY2024 | Q3 FY2023 | | :--- | :--- | :--- | | **Net cash provided by operating activities** | $565,390 | $352,369 | | **Net cash provided by (used in) investing activities** | ($26,314) | $14,567 | | **Net cash used in financing activities** | ($47,877) | ($31,746) | | **Net increase in cash** | $488,430 | $335,611 | [Revenues by Deployment Options](index=9&type=section&id=Revenues%20by%20Deployment%20Options) Q3 revenue growth was driven by Cloud and Data Center segments, offsetting the planned decline in Server revenue Revenue by Deployment (Q3, in thousands) | Deployment | Q3 FY2024 | Q3 FY2023 | YoY Change | | :--- | :--- | :--- | :--- | | **Cloud** | $703,036 | $534,891 | +31.4% | | **Data Center** | $364,134 | $221,551 | +64.3% | | **Server** | $29,720 | $94,389 | -68.5% | | **Marketplace and other** | $92,238 | $64,622 | +42.7% | [Reconciliation of GAAP to Non-GAAP Results](index=10&type=section&id=Reconciliation%20of%20GAAP%20to%20Non-GAAP%20Results) Non-GAAP results primarily exclude stock-based compensation and amortization of acquired intangible assets - The main reconciling items between GAAP and non-GAAP figures are **stock-based compensation, amortization of acquired intangible assets, and restructuring charges**[12](index=12&type=chunk)[24](index=24&type=chunk) GAAP to Non-GAAP Reconciliation (Q3 FY2024, in thousands) | Metric | GAAP | Adjustments | Non-GAAP | | :--- | :--- | :--- | :--- | | **Operating Income** | $17,804 | $298,713 | $316,517 | | **Net Income** | $12,752 | $219,744 | $232,496 | - For fiscal year 2024, the company began using a **fixed long-term projected non-GAAP tax rate of 27%** to provide better consistency across reporting periods[25](index=25&type=chunk)

Atlassian Corporation (TEAM) , a leading provider of collaboration and productivity software, is set to report third-quarter fiscal 2024 results on Apr 25.Atlassian has a history of delivering solid financial performance and consistent revenue growth. The company's focus on providing innovative solutions has driven its success. With a proven track record of execution, TEAM has earned the trust of its customers.Factors at PlayAtlassian has exhibited impressive growth momentum, driven by robust demand for its ...

An analyst upgrade gave the software stock a boost.Shares of the collaboration-focused software company Atlassian (TEAM 4.84%) were moving higher on an analyst rating upgrade this morning and broader tailwinds in the tech sector, as a weaker-than-expected producer price index reading cooled inflationary fears after the hot CPI report on Wednesday.As a result, the stock finished Thursday's session up 4.8%. This cloud has a silver liningBarclays raised its rating on Atlassian from equal weight to overweight, ...