Atlassian Corporation Reports Increased Subscription Revenue as Primary Growth Driver, Net Income and EPS Surpass Forecasts
Reuters
Aug 16
Atlassian Corporation Reports Increased Subscription Revenue as Primary Growth Driver, Net Income and EPS Surpass Forecasts
Atlassian Corporation has released its financial results, showcasing a significant increase in subscription revenue, which continues to be the primary driver of revenue growth. The company did not provide explicit figures for sales or revenues in the document. Net income and profit/loss figures were not detailed in the results. The company focuses on expanding its customer base and increasing spend per customer by introducing higher average prices per user and new apps or products. Atlassian employs non-GAAP financial measures to evaluate its business performance, excluding certain non-cash items to better reflect core operations. The company anticipates that subscription revenue will remain the key growth area, while maintenance revenue from Server offerings is expected to become immaterial after the end of support in fiscal year 2024.
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