Atlassian Corp Plc - TEAM STOCK NEWS

Atlassian (NASDAQ: TEAM) announced its Q4 and FY 2024 results. Key highlights include:

Q4 revenue of $1.132 billion, up 20% YoY, with subscription revenue at $1.069 billion, up 34% YoY. GAAP operating margin at (6)% and non-GAAP at 20%. Cash flow from operations was $426 million, with free cash flow at $413 million.

For FY 2024, revenue reached $4.4 billion, up 23%. GAAP operating margin was (3)%, while non-GAAP was 23%. Free cash flow was $1.4 billion.

Recent milestones include the introduction of Rovo, FedRAMP’s “In Process” status, and winding down server support. The company also expanded its board and is searching for a new Chief Revenue Officer.

Financial targets for Q1 FY 2025 include revenue between $1.149 billion and $1.157 billion with cloud revenue growth at 27% YoY.

Atlassian (NASDAQ: TEAM) has announced the appointment of Scott Belsky to its Board of Directors, effective August 1, 2024. Belsky, currently the Chief Strategy Officer and Executive Vice President of Design & Emerging Products at Adobe (NASDAQ: ADBE), brings extensive experience in product development, strategy, and design to Atlassian's board.

Mike Cannon-Brookes, co-Founder and co-CEO of Atlassian, expressed excitement about Belsky's addition, citing his expertise in building popular products and understanding industry trends, particularly in the context of the AI era. Belsky's role at Adobe includes leading corporate strategy, overseeing design across Adobe's products, and driving the development of emerging products such as 3D & Immersive products, Adobe Stock & Marketplace, and Behance.

Atlassian (NASDAQ: TEAM) has achieved Federal Risk and Authorization Management Program (FedRAMP) "In Process" status, marking a significant step towards obtaining FedRAMP Moderate Authority to Operate (ATO) by Q1 2025. This milestone is part of Atlassian's broader investment in supporting the U.S. public sector.

The company's new FedRAMP Moderate offering, Atlassian Government Cloud, will initially include Jira, Confluence, and Jira Service Management. This cloud platform aims to empower federal agencies with innovative capabilities while ensuring data security. The U.S. General Services Administration (GSA) is sponsoring Atlassian's ATO process, supporting cloud adoption within the government.

Atlassian is committed to meeting federal compliance and security standards, with plans for future investments in FedRAMP High and U.S. Department of Defense (DoD) Impact Level 5 (IL5) compliance.

Atlassian (NASDAQ: TEAM), a leader in team collaboration and productivity software, will release its financial results for the fourth quarter and fiscal year ending June 30, 2024, after market close on Thursday, August 1, 2024.

A webcast and conference call to discuss the results will take place at 2:00 P.M. Pacific Time (5:00 P.M. Eastern Time). The financial results will be accompanied by a shareholder letter available in the Investor Relations section of Atlassian's website.

A live webcast and a subsequent replay will be accessible at https://investors.atlassian.com/.

Atlassian reported strong financial results for the third quarter of fiscal year 2024, with quarterly revenue reaching $1.2 billion, up 30% year-over-year. The company's subscription revenue grew by 41% year-over-year, showcasing significant growth in its cloud offerings. Atlassian also announced its co-founder Scott Farquhar's decision to step down as co-CEO, with co-founder Mike Cannon Brookes taking over as CEO. The transition comes after 23 years of Farquhar's leadership and marks a new era for Atlassian.

Atlassian (NASDAQ: TEAM) announced the release of its financial results for the third quarter of fiscal year 2024. The company will host a webcast and conference call to discuss the results and will also hold an Investor Day with financial analysts and investors.

ActionIQ, a leading Composable Customer Data Platform, has been named a Visionary on the Gartner Magic Quadrant for CDPs. Atlassian Corporation, a client of ActionIQ, saw significant improvements in customer conversion rates and campaign production time. ActionIQ's capabilities include building smart audiences, personalizing customer interactions, orchestrating customer journeys, activating customer data, resolving identities, and enhancing GenAI models.

Atlassian Corporation (NASDAQ: TEAM) announced its second-quarter financial results, reporting a quarterly revenue of $1,060 million, up 21% year-over-year, and a quarterly subscription revenue of $932 million, up 31% year-over-year. The company achieved a quarterly GAAP operating margin of (5%) and a non-GAAP operating margin of 24%. Quarterly cash flow from operations was $290 million, with free cash flow of $284 million. Atlassian's co-founders and co-CEOs, Scott Farquhar and Mike Cannon-Brookes, highlighted the company's achievements, including reaching $1 billion in revenue for the first time, Jira Software crossing $1 billion in Cloud ARR, and surpassing 300,000 customers. The company remains focused on strategic priorities such as cloud migrations, serving enterprise customers, ITSM, and AI.

Atlassian Corporation (NASDAQ: TEAM) announced the release of financial results for its second quarter of fiscal year 2024 ended December 31, 2023. The company will host a webcast and conference call to discuss the financial results on Thursday, February 1, 2024, at 2:00 P.M. Pacific Time. Atlassian will also post a shareholder letter to the Investor Relations section of its website. Webcast details and access to the call can be found on Atlassian's website.