- Atlassian released its latest earnings results, reporting $US459.5 million in revenue during the first quarter of the 2021 financial year, but still reported a loss of $US21.6 million.
- It was a 26% revenue increase compared to the same time last year.
- Atlassian also added more than 8,600 customers during the quarter.
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Atlassian’s revenue has gone up in the first quarter of the financial year – but it still reported a loss.
The NASDAQ-listed, Aussie tech giant released its earnings results for the first quarter of the 2021 financial year – which ended on September 30 2020 – reporting $US459.5 million in revenue. It was a 26% rise from the same time last year ($US363.4 million).
However, the company reported a loss of $US21.6 million during the quarter, compared to a net income of $US69.3 million during the same period last year.
During the quarter, the company added more than 8,600 new customers and has grown to more than 182,000 customers in total. It also launched Atlassian Ventures, a $50 million fund to back early stage startups that support its network.
“We’ve put in the hard yakka (“hard work” for you non-Aussies) over the past several years, to build a scalable cloud-native platform because cloud is where our customers want to be,” Atlassian Co-founders and Co-CEOs Scott Farquhar and Mike Cannon Brookes said in their shareholder letter. “In fact, over 95% of new customers choose our cloud products because of the instant scalability, streamlined administration, enterprise-grade security, and deep integrations.”
The co-founders believe Atlassian’s future – and its customers’ future – is in the cloud. And as a result, it announced plans to simplify its premises services earlier this month. As part of the changes, Atlassian will stop selling new server licenses from February 2021 and stop maintenance and support for its server products in three years.
Ultimately, the company wants to continue providing support for its customers.
“In this time of great uncertainty, one thing we are sure of is the direction we’re headed,” the co-founders said. “Atlassian has never shied away from making bold decisions in service of our customers and our own long-term success, and we don’t intend to stop now.
“The extended timeframe for sunsetting our server products, continued investment in data center products, and discounts and migration resources provided, all continue our long history of delivering rock-solid support for our customers.”
The results come after Atlassian announced that it will allow its employees to choose where they work, whether it’s in the office, at home or a combination of both. Plus, the company is working on building the world’s tallest hybrid timber building in Sydney as its new headquarters.