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Atlassian Corporation (TEAM+12.92%) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing includes financial statements showing total revenues of $1,286,463,000 for the quarter, an increase from $1,060,110,000 in the same quarter of the previous year. Subscription revenues increased by 30% to $1,213,248,000, while other revenues decreased by 43% to $73,215,000.
Cost of revenues for the quarter was $223,127,000, representing 17% of total revenues, compared to 18% in the same quarter of the previous year.
Operating expenses increased to $1,120,815,000 from $914,636,000, with research and development costs rising to $680,213,000, marketing and sales expenses increasing to $271,894,000, and general and administrative expenses reaching $168,708,000.
The company reported an operating loss of $57,479,000 for the quarter, compared to a loss of $49,062,000 in the previous year.
Interest income for the quarter was $25,586,000, while interest expense was $7,291,000. Other expenses, net, were $7,999,000.
Net loss for the quarter was $38,208,000, compared to a net loss of $84,469,000 in the previous year. The net loss per share was $0.15, compared to $0.33 in the previous year.
Cash provided by operating activities was $351,905,000, while cash used in investing and financing activities was $111,704,000 and $69,241,000, respectively.
As of December 31, 2024, Atlassian had cash and cash equivalents of $2,217,604,000 and marketable securities of $251,629,000.
The company continues to focus on its cloud offerings, reporting a 30% increase in cloud revenues to $846,962,000 for the quarter.
Atlassian's board of directors authorized a new share repurchase program of up to $1.5 billion, following the completion of the existing $1.0 billion program.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Atlassian Corporation quarterly 10-Q report dated January 31, 2025. To report an error, please email earnings@qz.com.