It’s been almost two years since that IPO, and since then, the company’s valuation is at around $9 billion. The company popped 32% on its first day and hit a valuation of $5.8 billion. A lot of that is thanks to an insane run this year so far, where the stock is up more than 65%. And that run continued today after reporting a financial quarter that clearly mopped up, finishing well above the expectations of Wall Street.
Now we can tack today’s 12% jump following its earnings report on to an already pretty impressive 2017. Here’s what that kind of a run looks like:
Here’s how you might know Atlassian: while Slack gets a ton of shine in Silicon Valley, Atlassian offers a portfolio of collaboration products that also happens to include a Slack competitor. Called Stride, Atlassian launched it in September, but that really only represents one of Atlassian’s multi-pronged approach to collaboration layers. Atlassian also acquired Trello in January this year.
Atlassian’s productivity tool suites include project manager JIRA, its developer collaboration tools Bitbucket, as well as Stride. Each of these clearly has a string of competitors — especially at the starutp level — as Atlassian has exposed the market opportunity to the sum of these. But clearly, while Atlassian is reporting some losses, Wall Street feels confident that its strategy is working for the time being.
Here’s the final slash line for the company’s earnings report today:
- Revenue: $193.8 million, compared to analyst estimates of $185.8 million
- Earnings (adjusted): 12 cents per share, compared to analyst estimates of 9 cents per share.
- Total customer count: 107,746 (active subscription or maintenance agreement basis)
- Net new customers: 4,246
- Q2 revenue estimate: $203 million to $205 million
- Q2 earnings estimate (adjusted): 12 cents per share
- 2018 revenue estimate: $841 million to $847 million