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Atlassian Corp (NASDAQ:TEAM) shares are tumbling in Thursday’s after-hours session on the heels of the company’s fourth-quarter financial results. Here’s a look of the key metrics from the quarter.
Total revenue was up 20% year-over-year and subscription revenue was up 34% year-over-year. Cash flow from operations was $426.2 million and free cash flow was $413.2 million in the fourth quarter.
Atlassian ended the quarter with $2.3 billion in cash, cash equivalents and plus marketable securities.
“We announced transformative innovations for our customers like Rovo, the latest human-AI technology reshaping the way we work. We achieved significant milestones like FedRAMP’s ‘In Process’ status, a huge step towards supporting the U.S. public sector in the cloud, and we wound down support for Server,” said Atlassian CEO Mike Cannon-Brookes.
“With this setup, we feel tremendously optimistic about what is ahead of us. We’re excited to build on this momentum and get cracking on FY25.”
Guidance: Atlassian expects first-quarter revenue to be in the range of $1.149 billion to $1.157 billion versus estimates of $1.16 billion. The company expects fiscal year 2025 revenue growth of approximately 16%.
Atlassian’s chief sales officer Kevin Egan exited the company to pursue other opportunities.
Atlassian said it has “line of sight” to surpass $10 billion in annual revenue within the next five years and plans to hire a chief revenue officer with a strong track record of leading enterprise sales transformations to help accelerate its vision.
TEAM Price Action: Atlassian shares were down 11.1% after hours at $154 at the time of publication, according to Benzinga Pro.
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Photo: courtesy of Atlassian.
Posted In: TEAM
