Atlassian posts 23% revenue jump in Q2, widens net loss
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The news: Atlassian reported a 23% jump in Q2 revenue to USD1.586 billion ($2.29 billion), and guided for revenue between USD1.689 billion and USD1.697 billion in Q3.
The numbers: Mike Cannon-Brookes' company trimmed its operating loss year on year from USD57.5 million to USD47.7 million. However, its net loss was USD42.6 million compared with a smaller net loss of USD38.2 million a year earlier.
Atlassian expects cloud revenue growth of 23% in the third quarter, and data centre revenue growth of 33.5%, compared with the prior corresponding period. Those segments grew by around 26% and 20% respectively in the second quarter.
The context: Cannon-Brookes pointed to Atlassian's cloud division hitting USD1 billion in quarterly revenue for the first time.
He noted that the company grew to more than 350,000 customers in the period, and its generative AI product Rovo surpassed 5 million monthly active users.
What they said: "Companies from the largest enterprises in the world, to the most innovative startups, rely on the Atlassian platform every day to power workflows across their organisations and unleash teamwork and knowledge at scale," Cannon-Brookes said in a statement.
The source: Atlassian
