Atlassian reports that quarterly revenue was up 24% year-over-year.

“We closed out a challenging year with strong momentum in cloud migrations, enterprise sales, and within the ITSM market, reinforcing our conviction in our strategy which has positioned us well for fiscal year 2024 and beyond,” said Scott Farquhar, Atlassian’s co-founder and co-CEO. “We generated over $3.5 billion in revenue this year, with more than 250,000 customers powering collaboration through our world-class cloud platform.

“Our continued investment in R&D has ensured we’re able to deliver innovation that takes advantage of the next generation of AI,” said Mike Cannon-Brookes, Atlassian’s co-founder and co-CEO. “By leveraging the latest advancements in large language models, combined with each customer’s own data and two decades of our data-driven insights into how teams work, we’re able to help each of our customers unleash their potential.”

Fourth Quarter Fiscal Year 2023 Financial Highlights:
On a GAAP basis, Atlassian reported:
Revenue: Total revenue was $939.1 million for the fourth quarter of fiscal year 2023, up 24% from $759.8 million for the fourth quarter of fiscal year 2022.
Operating Loss and Operating Margin: Operating loss was $50.4 million for the fourth quarter of fiscal year 2023, compared with operating loss of $42.3 million for the fourth quarter of fiscal year 2022. Operating margin was (5)% for the fourth quarter of fiscal year 2023, compared with (6)% for the fourth quarter of fiscal year 2022
Net Loss and Net Loss Per Diluted Share: Net loss was $59.0 million for the fourth quarter of fiscal year 2023, compared with net loss of $90.6 million for the fourth quarter of fiscal year 2022. Net loss per diluted share was $0.23 for the fourth quarter of fiscal year 2023, compared with net loss per diluted share of $0.36 for the fourth quarter of fiscal year 2022.
Balance Sheet: Cash and cash equivalents plus marketable securities at the end of the fourth quarter of fiscal year 2023 totaled $2.1 billion.

On a non-GAAP basis, Atlassian reported:
Operating Income and Operating Margin: Operating income was $202.8 million for the fourth quarter of fiscal year 2023, compared with operating income of $107.6 million for the fourth quarter of fiscal year 2022. Operating margin was 22% for the fourth quarter of fiscal year 2023, compared with 14% for the fourth quarter of fiscal year 2022.
Net Income and Net Income Per Diluted Share: Net income was $147.0 million for the fourth quarter of fiscal year 2023, compared with net income of $68.5 million for the fourth quarter of fiscal year 2022. Net income per diluted share was $0.57 for the fourth quarter of fiscal year 2023, compared with net income per diluted share of $0.27 for the fourth quarter of fiscal year 2022.
Free Cash Flow: Cash flow from operations was $272.8 million and free cash flow was $270.4 million for the fourth quarter of fiscal year 2023. Free cash flow margin for the fourth quarter of fiscal year 2023 was 29%.

Fiscal Year 2023 Financial Highlights:
On a GAAP basis, Atlassian reported:
Revenue: Total revenue was $3.5 billion for fiscal year 2023, up 26% from $2.8 billion for fiscal year 2022.
Operating Income (Loss) and Operating Margin: Operating loss was $345.2 million for fiscal year 2023, compared with operating income of $70.1 million for fiscal year 2022. Operating margin was (10)% for fiscal year 2023, compared with 3% for fiscal year 2022.
Net Loss and Net Loss Per Diluted Share: Net loss was $486.8 million for fiscal year 2023, compared with net loss of $519.5 million for fiscal year 2022. Net loss per diluted share was $1.90 for fiscal year 2023, compared with net loss per diluted share of $2.05 for fiscal year 2022.
On a non-GAAP basis, Atlassian reported:
Operating Income and Operating Margin: Operating income was $722.6 million for fiscal year 2023, compared with operating income of $627.3 million for fiscal year 2022. Operating margin was 20% for fiscal year 2023, compared with 22% for fiscal year 2022.
Net Income and Net Income Per Diluted Share: Net income was $492.3 million for fiscal year 2023, compared with net income of $383.5 million for fiscal year 2022. Net income per diluted share was $1.92 for fiscal year 2023, compared with net income per diluted share of $1.50 for fiscal year 2022.
Free Cash Flow: Cash flow from operations was $868.1 million and free cash flow was $842.5 million for fiscal year 2023. Free cash flow margin for fiscal year 2023 was 24%.