Aug 04, 2023 12:13:00

Atlassian of Trello, Confluence, and Jira announces results for the fourth quarter of 2023, with sales up 24% year-on-year to about 134 billion yen

Atlassian, a software development company known for ``

Trello '', which can manage tasks like organizing cards, `` Confluence '', a wiki building service for enterprises, and `` Jira '', a proprietary software for enterprises, has announced the 2023 accounting. Financial results for the fourth quarter (April to June) of the fiscal year have been announced. Sales for the same period are very strong, with 939 million dollars (about 134 billion yen), an increase of 24% compared to the same period last year.

Atlassian Announces Fourth Quarter and Fiscal Year 2023 Results | Business Wire
https://www.businesswire.com/news/home/20230803978818/en/

Atlassian (TEAM) Q4 earnings report 2023
https://www.cnbc.com/2023/08/03/atlassian-team-q4-earnings-report-2023.html

Atlassian (TEAM) Stock Jumps on Cloud Forecast - Bloomberg
https://www.bloomberg.com/news/articles/2023-08-03/atlassian-jumps-on-cloud-forecast-quieting-slowdown-fears

On August 3, 2023 local time, Atlassian announced its financial results for the fourth quarter of fiscal year 2023. Net sales for the same period increased 24% year-on-year to $ 939 million, net income increased 115% year-on-year to $ 147 million (about 21 billion yen), diluted earnings per share It is $ 0.57 (about 81 yen), an increase of 110% compared to the same period last year. The strong sales were supported by Atlassian's paid subscription revenue, which increased 34% year-on-year to $ 800 million (about 114 billion yen).

Atlassian co-founder Scott Farquhar said, “We capped off a challenging year with strong momentum in the cloud migration, enterprise sales and ITSM markets. We have strengthened our confidence in our strategy to put us in a better position.'

In addition, Atlassian co-founder and CEO Mike Cannon-Brooks said, 'Our continued investment in research and development ensures that we can deliver the next generation of AI-powered innovation. By leveraging the latest advances in Models (LLM) combined with each customer's unique data and 20 years of data-driven insights into how their teams work, we help each customer reach their full potential. We can move forward,” he said.

At the end of the same period, Atlassian had 262,337 customers, which is slightly below the number of '264,780 companies' surveyed by

StreetAccount , an information service for institutional investors.

Atlassian said, 'From fiscal year 2025, operating profit margins will expand and trend toward historic profit margins due to sustained revenue growth combined with curbing investment in areas where Atlassian has accelerated in the past. We anticipate that will begin, and like the migration to the cloud, this will take two years.'

As of 2020, Atlassian, which is moving to the cloud, accounted for less than half of its total revenue from cloud services. However, Atlassian is moving to the cloud, and according to the company, millions of users have migrated to cloud services in the 2023 fiscal year.

After Atlassian announced its fourth quarter results, the company's stock price soared by 24% in after-hours trading.