'Ripper of a quarter': Atlassian joins the billion-dollar club
By administrator | 21 January 2019
Australian software giant Atlassian has reported of a "ripper of a quarter" on the back of a record revenue performance and the completion of a crucial acquisition.
The company on Friday reported its revenue was up 39 per cent to $US299 million ($415 million) sending its share price upwards more than 10 per cent.
In a letter to shareholders, co-founders and co-chief executives Scott Farquhar and Mike Cannon-Brookes said the calendar year finished on a high note with Atlassian surpassing $US1 billion in annual revenue for the first time.
"Australians often to refer to 'something excellent' as 'being a ripper'," the pair said. "And we had a ripper of a quarter. "
Atlassian famously listed on the Nasdaq in the US rather than the ASX in 2015, with shares debuting at $US27.67.
Atlassian shares closed on Thursday at $US92.92, giving it an implied market valuation of $US22.13 billion ($30.74 billion). In after-hours trade, shares in the tech company surged 10.1 per cent higher to $US102.30.
In its results, Atlassian reported an operating loss of $US3.2 million for the second quarter of the 2019 financial year, down from $US13 million for the same period last year. Read more
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