Atlassian (TEAM) - 2024 Q4 - Annual Results

Revenue Growth - Quarterly revenue reached $1,132 million, representing a 20$1,069 million, up 34% year-over-year[1] - Total revenue for fiscal year 2024 was $4.4 billion, a 23$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$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$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$2,176,930, compared to $2,102,550 as of June 30, 2023, representing an increase of approximately 3.5$3,076,264 as of June 30, 2024, from $2,736,364 in 2023, marking a growth of about 12.4$4,179,282, compared to $3,452,107 in 2023, indicating an increase of approximately 21.1$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]