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 firstname.lastname@example.org
(END) Dow Jones Newswires
July 29, 2021 16:52 ET (20:52 GMT)Copyright (c) 2021 Dow Jones & Company, Inc.