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. ...

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) 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 Corporation (NASDAQ:TEAM) Q4 2024 Earnings Conference Call August 1, 2024 5:00 PM ET Company Participants Martin Lam - Head of IR Scott Farquhar - Co Founder and CEO Mike Brookes - Co Founder and CEO Joe Binz - CFO Conference Call Participants Keith Weiss - Morgan Stanley Michael Turrin - Wells Fargo Ryan MacWilliams - Barclays Arjun Bhatia - William Blair Luke Hannan - Canaccord Genuity Fatima Boolani - Citi Brent Thill - Jefferies Alex Zukin - Wolfe Research Gregg Moskowitz - Mizuho Securities K ...

Atlassian (TEAM) reported $1.13 billion in revenue for the quarter ended June 2024, representing a year-over-year increase of 20.5%. EPS of $0.66 for the same period compares to $0.57 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $1.13 billion, representing a surprise of +0.34%. The company delivered an EPS surprise of +11.86%, with the consensus EPS estimate being $0.59.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how ...

Atlassian (TEAM) came out with quarterly earnings of $0.66 per share, beating the Zacks Consensus Estimate of $0.59 per share. This compares to earnings of $0.57 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 11.86%. A quarter ago, it was expected that this company would post earnings of $0.61 per share when it actually produced earnings of $0.89, delivering a surprise of 45.90%.Over the last four quarters, the company has su ...

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]

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 ...

Wall Street expects a year-over-year increase in earnings on higher revenues when Atlassian (TEAM) reports results for the quarter ended June 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on August 1, 2024, might help the stock move higher if these key numbers are better than expectat ...

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 ...