Atlassian revenue jumps
Tech giant also chalks up important milestone
AUSSIE-FOUNDED tech giant Atlassian has raked in more money than expected in the second quarter as it gained more customers.
Joint chief executives Mike Cannon-Brookes and Scott Farquhar say it was a strong quarter with an important milestone for the software company they founded in Sydney in 2002 and listed on the NASDAQ in 2015.
During the three months to December 31, the company surpassed $US1 billion in lifetime revenue on its Atlassian Marketplace, a platform to buy apps for Atlassian’s applications.
“The phrase ‘software is eating the world’ has never been more true,” they said in a statement to their shareholders.
“Software increasingly drives how companies run their businesses and empower their teams.”
The pair said revenue grew 37 per cent to $US409 million ($A597 million) year-over-year with stronger than anticipated new and renewal activity from customers ahead of price changes.
Net income was $US124.1 million for the second quarter of fiscal 2020, compared with $US45.2 million at the same time last year.
It is another success for the Australian duo, who last year topped the list of Australia’s richest under-40s for an eighth consecutive year. AFR Magazine’s Young Rich List estimated they had, last year, more than $A13 billion each.
The company expects revenue in its third quarter for 2019/20 to be $US395 million to $US399 million.
Atlassian makes workplace software, including project management product Jira, which is used by software development teams inside companies to track bugs and plan projects.
It has 160,000 customers globally and 4000 employees.