Atlassian's revenue is up 45% in its IPO quarter results

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Atlassian, Australia’s largest tech business, has reported a 45% increase in quarterly revenue after a strong sales performance.

The company reported total revenue of $US109.7 million ($AU153m) for the second quarter of the fiscal year, up from $US75.8 million ($AU105m) for the same quarter a year earlier. Operating income however was down, going from $US4.1 million ($AU5.7m) down to $3.4 million as it expands the business.

Active customer numbers are now sitting at 54,262, which is an increase of 27% year on year, with Atlassian adding over 2,600 new customers over the quarter.

“We achieved a strong first quarter as a public company, with a combination of continued growth and profitability,” said Scott Farquhar, Atlassian’s co-CEO and co-founder.

“Our business performed well as teams increasingly rely on our software to collaborate around shared work,” he said.

“We continue to leverage our highly-automated distribution model to make deep investments in product development, which most notably resulted in the launch of three purpose-built versions of JIRA that takes our flagship product into new markets.

“With products that support every aspect of team collaboration, we’re well positioned to reach the Fortune 500,000 with the tools needed to create a more open and productive way to work.”

Atlassian listed on the Nasdaq exchange in December, trading at $US25.78 , with prices rising to $US31.10 towards the end of the month. Since the start of 2016, share prices have been slowly falling, with the company trading at $US23.92 ($AU33.30) at the time of writing.

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