Atlassian’s revenue jumps 43 per cent

Net income drops for FY16

Atlassian founders Mike Cannon-Brookes and Scott Farquhar

Atlassian founders Mike Cannon-Brookes and Scott Farquhar

Nasdaq-listed software vendor Atlassian has reported a 43 per cent increase in its full-year revenue.

The Australian-founded company, whose best-known offering is JIRA, reported total revenue of US$457.1 million for FY16, compared to $319.5 for FY15. The company had net income of $4.4 million for the year, down from $6.8 million.

“Fiscal 2016 was a landmark year for Atlassian,” co-CEO and co-founder Scott Farquhar said in a statement. The company went public in December last year.

“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,” Farquhar said. “We are still early in our growth trajectory and expect fiscal 2017 to be another great year for the company.”

For FY17 Atlassian is forecasting total revenue in the range of $592 million to $602 million.

The company ended the year with 60,950 customers, 25 per cent more than at the end of June 2015. That total includes 3519 net new customers in Q4.

Last month the company made its first acquisition since its IPO, acquiring StatusPage, which offers a service that allows businesses to keep customers updated about outages.

“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,” Farquharsaid.

Atlassian said that StatusPage will continue to offer a standalone service in the “near-term” but it would also integrate the service in its own collaboration software.

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