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.

NOW WATCH: Tech Insider videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at

Tagged In

atlassian tech