- Atlassian has surpassed US$1 billion in revenue for the first time in a single financial year.
- The Aussie-born, Nasdaq-listed software company also reached the milestone of 150,000 customers, tripling its internal targets.
- It ultimately hopes to attract 100 million active users of its products and services.
Correction: A previous version of this article mistakenly reported that gross profit at Atlassian was $999,842 instead of $999.8 million. It has subsequently been amended.
Atlassian has announced its results of the 2018-19 financial year, revealing it passed the US$1 billion revenue mark for the first time.
Co-founder Scott Farquhar said in a statement that the 2019 fiscal year was "another outstanding year for Atlassian", noting that the software unicorn bypassed 150,000 customers during that time – tripling its initial 50,000 target.
“This propelled us past the $US1 billion revenue mark for the first time in a fiscal year,” he said.
The documents indicate the company earned $999.8 million in gross profits, up from $708.2 million this time in 2017-18 financial year.
In a letter to shareholders, Atlassian noted other achievements it made during the 2019 fiscal year, including its acquisition of list-making application Trello and incident management platform Opsgenie, as well as the number of purchases on the Atlassian Marketplace totalling more than US$3 million.
Fellow co-founder Mike Cannon-Brookes said Atlassian is a cloud-first company, with more than 125,000 of its customers using its cloud products.
“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,” he said in a statement.
This investment in the cloud is one of three areas Atlassian is focusing on in the 2020 fiscal year. The other two factors include migrating its on-premises customers to the cloud and having more competitive pricing - with some free products being considered.
“In fiscal 2020, we plan to introduce free editions at entry-level tiers for some Cloud products to make them even more attractive for smaller teams and companies,” the company said in its shareholder letter.
Atlassian's long-term goal is to have more than 100 million active users of its products and services.
“Achieving a mission this big will take time, commitment, and a long-term focus. We're ready,” the company said in its shareholder letter.