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Atlassian smashes revenue targets, plans for $US600 million this year

Cannon-Brookes and Farquhar. Photo: supplied.

Atlassian, the Australian tech start-up now listed in the US, posted a 43% jump in full year revenue to $US457.1 million.

“Fiscal 2016 was a landmark year for Atlassian,” says Scott Farquhar, co-CEO and co-founder.

“Over the past year, we grew revenue to more than $450 million, added over 12,300 net-new customers, generated over $95 million of free cash flow and completed a successful IPO.”

The operating loss was $5.9 million, compared to a positive $1.7 million in 2015.

The collaboration software company has set a 2017 revenue target in the range of $592 million to $602 million.

The 2016 fourth quarter revenue was a record $127.6 million, a 39% increase on 2015. Just matching that in 2017 would put the company’s revenue at $US510 million.

“We are still early in our growth trajectory and expect fiscal 2017 to be another great year for the company,” he says.

Farquhar and his co-founder Mike Cannon-Brookes and Scott have each kept a 37.7% holding in their company, making them billionaires.

Farquhar was upbeat about StatusPage, the company’s first acquisition as a public company.

“StatusPage is a standout company in its category and is a natural extension of the software development and IT operations processes where Atlassian is a leader,” he says.

StatusPage gives an easy way for its customers to quickly build a website that keeps users appraised of the status of their service.

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