Atlassian (NASDAQ: TEAM) reported Q2 EPS of $0.73, $0.10 better than the analyst estimate of $0.63. Revenue for the quarter came in at $1.06 million versus the consensus estimate of $1.02 billion.

GUIDANCE:

Atlassian sees Q3 2024 revenue of $1.09-1.11 billion, versus the consensus of $1.07 billion.

• Total revenue is expected to be in the range of $1,085 million to $1,105 million.
• Cloud revenue growth year-over-year is expected to be in the range of 30.0% to 32.0%.
• Data Center revenue growth year-over-year is expected to be approximately 35.0%.
• Gross margin is expected to be approximately 81.0% on a GAAP basis and approximately 83.5% on a non-GAAP basis.
• Operating margin is expected to be approximately (7.5%) on a GAAP basis and approximately 19.5% on a non-GAAP basis.
• Fiscal Year 2024:
• Cloud revenue growth year-over-year is expected to be in the range of 28.5% to 30.5%.
• Data Center revenue growth year-over-year is expected to be approximately 36.0%.
• Gross margin is expected to be approximately 81.0% on a GAAP basis and approximately 83.5% on a non-GAAP basis.
• Operating margin is expected to be in the range of (6.5%) to (6.0%) on a GAAP basis and in the range of 20.5% to 21.0% on a non-GAAP basis.

For earnings history and earnings-related data on Atlassian (TEAM) click here.