Atlassian (TEAM) Tops Q1 EPS by 3c, Revenues Beat; Offers 2Q EPS/Revenue Guidance Below Consensus
Atlassian (NASDAQ: TEAM) reported Q1 EPS of $0.30, $0.03 better than the analyst estimate of $0.27. Revenue for the quarter came in at $459.5 million versus the consensus estimate of $440.41 million.
“We drove strong results in Q1, generating $460 million in revenue, growth of 26% from the prior year,” said Scott Farquhar, Atlassian’s co-founder and co-CEO. “We also added more than 8,600 net new customers during the quarter, and now serve over 182,000 customers, including more than 160,000 using our cloud products, as we take the next step in our journey to transform Atlassian into a cloud-first global software leader.”
“We continued to build momentum in the cloud, and delivered increased value to our customers,” said Mike Cannon-Brookes, Atlassian’s co-founder and co-CEO. “We are laser focused on delivering the best experience to customers in the cloud by building powerful new editions like Cloud Premium and Cloud Enterprise, scaling products like Atlassian Access, and cementing partnerships with best-of-breed SaaS providers such as Slack.”
Atlassian sees Q2 2021 EPS of $0.30-$0.32, versus the consensus of $0.33. Atlassian sees Q2 2021 revenue of $460-475 million, versus the consensus of $479.68 million.
Second Quarter Fiscal Year 2021:
- Total revenue is expected to be in the range of $460 million to $475 million.
- Gross margin is expected to be approximately 83% on an IFRS basis and approximately 86% on a non-IFRS basis.
- Operating margin is expected to be approximately 1% on an IFRS basis and approximately 24% on a non-IFRS basis.
- Net income (loss) per diluted share is expected to be in the range of ($0.01) to $0.01 on an IFRS basis, and net income per diluted share is expected to be in the range of $0.30 to $0.32 on a non-IFRS basis.
- Weighted average share count is expected to be in the range of 249 million to 251 million shares when calculating diluted IFRS net loss per share and in the range of 254 million to 256 million shares when calculating diluted IFRS and non-IFRS net income per share.
For additional commentary regarding financial targets, please see Atlassian’s first quarter fiscal year 2021 shareholder letter dated October 29, 2020.
For earnings history and earnings-related data on Atlassian (TEAM) click here.