Atlassian barges into the billion dollar club with a cheery G'Day!
Aussie Jira flinger celebrates a bonzer quarter
Atlassian, home of Jira, Trello and Bitbucket, has rounded out calendar 2018 with over $1bn in revenues as it continues to persuade customers that the cloud is really where they’d like to be.
That $1bn figure was achieved thanks to a bumper fiscal Q2 2019 ended 31 December, which saw the Australian company vacuum up $299m in revenue, an increase of 39 per cent year-on-year. It also generated $122m in free cash-flow, to lubricate the cogs of the business, almost double that of the same time last year.
The company was also keen to point out that it now had more than 65,000 customers for its Jira issue tracking system alone, more than the total customers the outfit had when it went public three years ago.
However, co-CEO Scott Farquhar was reluctant to break down that Jira figure further when questioned by analysts. The recently launched management tool, Jira Core, was “still growing” according to Farquhar as he pointed out the bulk of Jira revenues continue to come from the Jira Software and Jira Services desks customers know and love.
65,000 of them, at least.
Overall, the company now has 138,235 customers, which includes the 1,396 that came aboard following the Opsgenie acquisition toward the end of calendar year 2018. The figure is nearly a 30 per cent jump from the same period in the previous year.
The company was also happy to report that nearly 85 per cent of its new customers had opted to go for the cloud, a product line that Atlassian President Jay Simons told analysts was “a little more expensive than Server”.
As for the breakdown of that Q2 $299m figure, the proportions have changed markedly since the same time in fiscal '18: with Subscriptions accounting for over half of the revenue, at $153m. In the previous year, subs accounted for $98m of the $215m quarterly revenue.
Losses were also down, as a $13m operating loss for the same time last year was trimmed to $3m this time around.
The company intends to continue using its newly acquired product lines, such as Opsgenie, to increase revenue to between $303m and $305m for the next quarter, with a view to rounding out the fiscal year with total sales of almost $1.2bn. ®