News & Analysis

Atlassian sales soar – oh, and it just bought another company

- October 18, 2019 2 MIN READ

 

 • First quarter fiscal year results for the Nasdaq-listed tech giant were filed with the US Securities and Exchange Commission today

 • Net income was US$69.3 million for the first quarter FY2020

 • Total revenue was US$363.4 million for Q1 FY20, up 36% from the same period a year ago

 • Operating loss was US$4.6 million

 • Net income per diluted share was $0.28, a turnaround on a net loss of $1.03 in Q1 FY19.

• Cash and cash equivalents, and short-term investments at the end of Q1 FY20 total $1.8 billion

Australian tech giant Atlassian has bought the company behind automate routine operations in Jira, Code Barrel, the company revealed with reported a 36% jump in revenue to US$363.4 million as part of its first quarter financial results.

“We are also excited to announce that Atlassian has acquired Code Barrel, the creator of Automation for Jira,” co-founder and co-CEO Scott Farquhar said.

“Automation for Jira is already used by thousands of organisations to help them reduce repetitive work and unleash the potential of their teams. This acquisition is an important step as we continue to enhance our cloud products.”

Atlassian did not reveal a price, but says Automation for Jira is now used by more than 6,000 companies, including Visa, Airbnb and TripAdvisor, running more than 40 million automation rules.

The acquisition comes as US-listed (Nasdaq: TEAM) global tech unicorn latest quarterly earnings report shows non-GAAP (Generally Accepted Accounting Principles) revenue was up 36% from a year ago to $363.4 million – 28 cents earnings per share (EPS).

The result beat Wall Street expectations of $351 million at 24 cents EPS.

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