Atlassian, the Sydney-based software giant, has reported a 20 per cent increase in revenue for the last financial year, reaching $US5.2 billion ($8 billion). Simultaneously, the company’s losses decreased to $US256.7 million, compared to $US300.5 million in the previous year. Atlassian is a software company that develops products for software developers and project managers. Its tools are designed to help teams organise, discuss and complete shared work.
The Nasdaq-listed company released its fourth-quarter and full-year results on Thursday after the market closed in New York. For the three months ending June 30, Atlassian’s revenue rose to $US1.4 billion, a 22 per cent year-on-year increase. The company reported a net loss of $US23.9 million for the quarter, alongside free cash flow of $US360.3 million.
Mike Cannon-Brookes, Atlassian’s chief executive and co-founder, noted the company delivered over $US5.2 billion of revenue and generated over $US1.4 billion in free cash flow for FY24. He also mentioned the firm reached 2.3 million AI monthly active users, adding that AI is fundamentally changing how people work and creating significant tailwinds for Atlassian. Looking ahead, Atlassian is forecasting its annual revenue will increase by about 18 per cent for the current financial year.
In other news, Atlassian also announced that its president, Anu Bharadwaj, will be leaving the company at the end of 2025, after 12 years of service.