Atlassian (NASDAQ: TEAM) announced 3Q19 earnings, which ended in June 2019. Atlassian provides team collaboration and productivity software such as Jira Software and Confluence.Over 144,000 customers are currently using their services.

Revenue and Loss

Atlassian made $309 million in revenue (+38% year-over-year) and -$27 million in operating losses (-9% YOY). The increased investment in research and development expenses was the major cause of the widened operating loss.

Revenue from subscriptions ($164 million), which accounted for 53% of total revenue, significantly contributed to the growth of the company.

Key Metrics

Atlassian ended 3Q19 with 144,038 total customers. Although the growth rate of customer acquisition has been slowing down, ARPC (average revenue per customer) has increased over the period.

Atlassian acquired AgileCraft, a leading provider of enterprise agile planning software founded in 2013, for $166 million in March 2019. Atlassian also completed the acquisition of OpsGenie in September 2018, a modern incident management platform.

Financial Situation

Atlassian valued cash and cash equivalents at $1.7 billion which accounted for over 60% of their total assets ($2.8 billion). The increase in cash flow in 4Q18 was related to the issuance of exchangeable senior notes. Their Accumulated deficit has also been increasing through each quarter period.

Deferred revenue which is related to the long-term contracts contributed to the stable cash flow from operating activities.
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