Atlassian smashes financial targets as revenue soars in a “landmark” year for the Australian tech giant

Atlassian has released its first annual financial results since its $8 billion initial public offering late last year, with the Australian tech darling’s revenue jumping by 43%.

Atlassian posted revenue for the fourth quarter of $168 million ($US127.6 million), up 39% year-on-year, and total revenue for the 2016 financial year of $601 million ($US457.1 million), well up from $US319.5 million last year.

Despite the rapid revenue growth, Atlassian still posted a $US4.7 net loss for the quarter, up from $US1.2 million last year.

Following the massive public listing, the company still has cash and cash equivalents of $US743.1 million.

The workplace collaboration software company now has nearly 61,000 users, after adding more than 3500 users in the fourth quarter.

Atlassian co-founder Scott Farquhar says the 2016 fiscal year was a “landmark” one for the Sydney-founded tech company.

“Over the past year we grew revenue to more than $450 million, added over 12,300 net-new customers, generated over $95 million of free cash flow and completed a successful IPO,” Farquhar says.

“Our fourth quarter was another strong quarter and I’m proud both of our results and the groundwork we’ve laid for the future.”

Atlassian also recently made its first post-IPO startup acquisition, buying status notification company StatusPage last month.

“StatusPage is a standout company in its category and is a natural extension of the software development and IT operations processes where Atlassian is a leader,” Farquhar says.

Fellow Atlassian co-founder Mike Cannon-Brookes says that December’s public listing and the 2016 financial year as a whole is another stepping stone in Atlassian’s journey towards becoming a world-dominating tech company.

“When we look back at fiscal 2016 we can be proud of the continued evolution of our products, the growth of our customer base and another step in the growth of the organisation,” Cannon-Brookes says.

“We’ve achieved a lot over the past year but there is still much to do as we move forward in our goal of unleashing the potential in all teams across the Fortune 500,000.”

Atlassian has also revealed its financial targets for the 2017 fiscal year, with projected revenue of $US592-602 million and $US132-134 million for the first quarter.

“In fiscal 2017 you can expect us to continue our focus on building great products that become an indispensable part of how teams work together,” Cannon-Brookes says.

This article was first published by StartupSmart.