Atlassian used its Team ‘24 conference and exhibition to showcase a wide range of enhancements and extensions to its team collaboration, productivity software and service management platform. Held .
Shares of IT project management software company, Atlassian (NASDAQ:TEAM) jumped 8.1% in the afternoon session after the company provided optimistic financial projections during its 2024 investor day session. Atlassian provided initial FY27 targets, including a 20% + revenue CAGR for FY'27, while maintaining >25% operating margins. This implies that the company will hit the $10B revenue mark within the next 5 years. The topline is expected to continue to benefit from the gradual migration to its
Enterprise collaboration solutions provider Atlassian (Nasdaq: TEAM) recently announced its second quarter results that surpassed market expectations. This was a milestone quarter for the company as it surpassed $1 billion in revenues for the first time. Atlassian's Financials For the second quarter, revenues grew 21% to $1.06 billion, ahead of the market's forecast of $1.02 billion. Adjusted EPS for the quarter of $0.73 was ahead of the market's forecast of $0.62. By segment, Subscription revenues came in at $932.2 million compared with $711.2 million a year ago. Maintenance revenues fell from $106 million to $69.1 million. Other revenues grew 6% to $58.8 million. For the third quarter, Atlassian expects revenues of $1.085-$1.105 billion, compared with the Street's estimate of $1.065 billion. Atlassian's AI Growth Atlassian continued to move forward with its product enhancements. It recently announced the general availability of Atlassian Intelligence, which w