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Mar 31, 2024
Atlassian Q3 2024 Earnings Report
Atlassian's Q3 2024 earnings were announced, revealing a CEO transition and strong financial performance.
Key Takeaways
Atlassian reported Q3 2024 revenue of $1,189 million, a 30% increase year-over-year, driven by a 41% increase in subscription revenue. The company's free cash flow reached a record $555 million, up 59% year-over-year. Co-founder Scott Farquhar will step down as co-CEO effective August 31, 2024.
Total revenue reached $1,189 million, up 30% year-over-year.
Subscription revenue grew by 41% year-over-year, reaching $1,071 million.
Free cash flow hit a record $555 million, a 59% increase year-over-year.
Atlassian Marketplace surpassed $4 billion in lifetime sales.
Atlassian
Atlassian
Atlassian Revenue by Segment
Revenue by Segment
Subscription Revenue
CapyFin.comOther Revenue
CapyFin.com Forward Guidance
Atlassian is providing financial targets for the fourth quarter of fiscal year 2024.
Positive Outlook
- Total revenue is expected to be in the range of $1,120 million to $1,135 million.
- Cloud revenue growth year-over-year is expected to be approximately 32%.
- Data Center revenue growth year-over-year is expected to be in the range of 40% to 42%.
- Gross margin is expected to be approximately 81.0% on a GAAP basis and approximately 83.5% on a non-GAAP basis.
- Operating margin is expected to be approximately (7.0%) on a GAAP basis and approximately 18.5% on a non-GAAP basis.
Revenue & Expenses
Visualization of income flow from segment revenue to net income