Categories Earnings, Technology

Atlassian stock tanks after reporting Q3 earnings

Atlassian (TEAM), a provider of productivity software solutions, Wednesday reported 38% revenue growth for the third quarter, with positive contributions from all four business segments. On an IFRS basis, Atlassian’s net loss widened to 85 cents per share from loss of 7 cents per share in the third quarter of fiscal 2018. TEAM stock tanked about 10% in the extended trading hours.

On a non-IFRS basis, net income per share was 21 cents per share for Q3 2019 compared with income per share of 9 cents in the prior year period.

Atlassian (TEAM) Q3 2019 earnings - customer growth trend

For the fourth quarter of 2019, net loss per share is expected to be about $0.17 on an IFRS basis, and net income per share is expected to be approximately $0.16 on a non-IFRS basis. Revenue is expected to be in the range of $329 million to $331 million.

For the fiscal year 2019, net loss per share is expected to be approximately $1.78 on an IFRS basis, and net income per share is expected to be approximately $0.82 on a non-IFRS basis. Revenue is estimated to be in the range of $1.205 billion to $1.207 billion.

On March 18, 2019, the San Francisco-based tech firm stated that it expects the acquisition of AgileCraft (now Jira Align), which Atlassian acquired for $166 million, to add approximately $1 million to $2 million to fiscal 2019 revenue. Also, the acquisition is expected to reduce IFRS operating margin by approximately one point and reduce non-IFRS operating margin by approximately half a point for fiscal 2019.

With a net new addition of 5,803 customers in the third quarter, Atlassian ended the quarter with a total customer count, on an active subscription or maintenance agreement basis, of 144,038.

Atlassian stock, which closed down 1.58% at $111.19 today, rose 25% since the beginning of this year and jumped 79% in the past 12 months period.

We’re on Flipboard! Follow us to receive the latest stock market, earnings, and financial news at your fingertips

Most Popular

Earnings calendar for the week of August 2

Labor market conditions improved once again and jobless claims dropped to about 400,000 after rising last week, as economic activity picked up. Stocks rallied in the action-packed week and benchmark

IPO News: Here’s everything you need to know about Healthcare Royalty’s upcoming IPO

In the first half of 2021, a record number of private companies entered stock markets in the US, marking a multifold increase from the same period of 2021. The IPO

ExxonMobil (XOM) Earnings: Q2 numbers top expectations

Energy giant ExxonMobil Corporation (NYSE: XOM) reported a profit for the second quarter of 2021, compared to a loss last year, even as operating conditions continued to improve. The results

Add Comment
Viewing Highlight