Atlassian shares jump on strong revenue growth, forecast
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The news: Software products maker Atlassian has lifted first-quarter revenue by 21% and forecast strong cloud and data centre revenue growth for FY25, sending its shares higher in after-hours trading.
The numbers: The Sydney-based company posted September quarter revenue of USD1.19 billion ($1.81 billion), while net loss widened to USD123.8 million.
It expects cloud revenue to lift 25.5% in the second quarter and 24% over the fiscal year, while data centre revenue will likely be up 27.5% in Q2 and 20.5% over the year.
That sent Atlassian shares up 17% to USD220.54 in extended trading on the Nasdaq.
The company also announced a USD1.5 billion share buyback program.
The context: The revenue forecast came in ahead of analyst estimates. The company also said it has appointed SAP veteran Brian Duffy as its new revenue officer, filling a key leadership role that has been vacant for months.
Atlassian, which has over 300,000 customers, offers collaboration tools such as Jira software for planning and project management, and Confluence for content creation, among others.
The source: Atlassian media release
