Atlassian has booked a 36 percent rise in revenue at the end of financial year 2019, with its income jumping to US$334.6 million (A$481 million) and annual revenue cracking the US$1 billion barrier.
The company's results have capped off a year where the publicly-listed company counted 150,000 customers, bringing in a total revenue of US$1.21 billion, a 37 percent increase from FY18.
While operating margin has similarly increased to 10 percent for the fourth quarter, compared to just one percent in the previous corresponding period, Atlassian still ran at an overall loss.
The company’s net loss was US$237.5 million, an increase from FY18’s fourth quarter loss of $21.9 million.
In a statement to investors, Atlassian said the loss included a non-cash charge of US$156.3 million recorded in “other non-operating expense, net,” as a result of marking to fair value the exchange feature of Atlassian's exchangeable senior notes and the related capped calls.
“Net loss for the fourth quarter of fiscal 2019 also included a non-cash charge to income tax expense of US$54.7 million as a result of a write-down of Atlassian’s deferred tax assets. The charge was driven by Atlassian’s assessment of the realizability of its deferred tax assets.”
Looking forward, the company is expecting the next quarter’s revenue to sit between US$34 million and $353 million, and an annual revenue just north of $1.5 billion.
Co-chief executive and founder Mike Cannon-Brookes said much of the company’s new customers are opting for Atlassian’s cloud-based solutions.
“We are a Cloud-first company, with more than 125,000 of our customers using our Cloud products and more than 90 percent of our net new customers each quarter choosing a Cloud product,” Cannon-Brookes said.
“In fiscal 2020, we will continue to invest in our Cloud business to serve the needs of the
Fortune 500,000 and drive our long-term growth.