Most tech earnings this season have been borriiinnggg, a trend that continued today as $AMZN, $PINS, and $ZEN dropped after reporting. πͺ
There have been a few winners, though. π Among the winners is Australian SaaS business Atlassian, creator of Jira and Trello. Atlassian builds productivity solutions which mostly serve software developers.Β
As it turns out, Atlassian had a βripper of a quarter,β according to Co-Founder/Co-CEO Mike-Cannon Brookes. The company grew subscription revenue 50% YoY to $386M, and total quarterly revenue grew 30% YoY to $560M.
The company posted a net loss on an IFRS basis, but the narrowing loss and analyst beat elevated Atlassian after hours. According to consensus estimates on Atom.Finance, Atlassian expects to make $2.4B in revenue this fiscal year (which runs June 2021 to June 2022.)
$TEAM rose 13.21% in AH.