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Atlassian 4Q Losses Narrow as Sales Rise on Software Demand

By Kimberly Chin

 

Atlassian Corp.'s losses narrowed in the fiscal fourth quarter as sales rose due to strong demand for productivity and team-collaboration software tools in light of the Covid-19 pandemic.

The team-collaboration and productivity software company posted a loss of $213.1 million for the quarter ended June 30, compared with a loss of $385.2 million in the same period a year earlier. It had a per-share loss of 85 cents, compared with $1.56 a year ago. Adjusted earnings were 24 cents a share. Analysts polled by FactSet were expecting an adjusted profit of 18 cents a share.

Revenue rose to $559.5 million from $430.5 million in the year-ago quarter. Analysts were looking for $524.1 million in revenue.

Expenses, such as research and development, marketing and sales and general administrative, climbed nearly 30% from a year ago to a total of $469.1 million.

Atlassian said it added 23,311 new customers during the quarter, about 28% of which was from single-user Trello accounts. It had a total of 236,118 customers at the end of the quarter.

 

Write to Kimberly Chin at kimberly.chin@wsj.com

 

(END) Dow Jones Newswires

July 29, 2021 16:52 ET (20:52 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

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