On this page of StockholderLetter.com we present the latest annual shareholder letter from Atlassian Corp — ticker symbol TEAM. Reading current and past TEAM letters to shareholders can bring important insights into the investment thesis.
Annual Report 2024
FY24 HIGHLIGHTS $4.4B $2.7B $1.4B $1.4B 45,842 524 Revenue Operating cash flow Customers with >$10K in Cloud ARR Cloud revenue Free cash flow* Customers spending >$1M annually *Free cash flow is defined as net cash provided by operating activities less capital expenditures, which consists of purchases of property and equipment. Refer to page 59 of the Annual Report for a reconciliation of GAAP to non-GAAP financial measures.
To our stockholders, customers, partners, and Atlassians As I reflect back on fiscal year 2024, I am filled with Looking ahead, I am fired up and ready to build on immense pride for the transformative year we had this momentum. We have a $67 billion serviceable as a business. We exited the fiscal year with over addressable market opportunity, with $14 billion in 300,000 customers and generated over $4.3 billion our existing enterprise customer base alone, across in revenue and $1.4 billion in operating cash flow. our three markets: software development, service These results are not just numbers, but a management, and work management. And we are representation of the trust and reliance that millions incredibly well-positioned to seize the opportunity of users place in our products each day. in each of these three markets. Our teams are laser- We successfully ended support for our Server offering, migrating more customers to our Cloud and Data Center offerings than we initially projected. This demonstrates our customers' commitment to the Atlassian platform and creates an even greater focused on our top strategic priorities: accelerating our evolution into a world-class enterprise company, continuing our advancements in AI, and empowering team collaboration through the Atlassian System of Work. opportunity for us to deliver differentiated value These opportunities - coupled with Atlassian s across the entire product portfolio. We released new unique business model and ability to deliver products and features like Atlassian Intelligence, differentiated customer value - set us up to drive Compass, and Virtual Agents for Jira Service long-term, durable growth for years to come. Management, and welcomed Loom to the Atlassian family. We also added six new data residency regions, delivered increased scalability across the product portfolio, and achieved FedRAMP In Process status, driving further momentum with our world-class cloud platform. To the entire Atlassian team, thank you for your hard work, perseverance, and commitment to accelerating the power of teamwork. Thank you all for your support on our journey to unleash the potential of every team. We made big strides in the generative AI space. Atlassian Intelligence, our platform-wide AI offering, is delivering game-changing innovation and value to our customers in the cloud with over 30 announced Atlassian Intelligence features across our cloud products. We have also introduced Atlassian Rovo, an entirely new product that takes human-AI collaboration to the next level by integrating contextual information, conversational AI, and agents into workflows. Rovo is an always-on teammate, ready to answer questions, find data, and tackle various tasks, allowing our customers to focus on the highest value work. Mike Cannon-Brookes Chief Executive Officer and Co-Founder
 • shareholder letter icon 10/23/2024 Letter Continued (Full PDF)
 • stockholder letter icon 10/18/2023 TEAM Stockholder Letter
 • stockholder letter icon More "Application Software" Category Stockholder Letters
 • Benford's Law Stocks icon TEAM Benford's Law Stock Score = 83


TEAM Shareholder/Stockholder Letter Transcript:

Annual Report 2024

FY24 HIGHLIGHTS
$4.4B
$2.7B
$1.4B
$1.4B
45,842
524
Revenue
Operating cash flow
Customers with
>$10K in Cloud ARR
Cloud revenue
Free cash flow*
Customers spending
>$1M annually
*Free cash flow is defined as net cash provided by operating activities less capital expenditures,
which consists of purchases of property and equipment. Refer to page 59 of the Annual Report for a
reconciliation of GAAP to non-GAAP financial measures.

To our stockholders,
customers,
partners, and
Atlassians    
As I reflect back on fiscal year 2024, I am filled with
Looking ahead, I am fired up and ready to build on
immense pride for the transformative year we had
this momentum. We have a $67 billion serviceable
as a business. We exited the fiscal year with over
addressable market opportunity, with $14 billion in
300,000 customers and generated over $4.3 billion
our existing enterprise customer base alone, across
in revenue and $1.4 billion in operating cash flow.
our three markets: software development, service
These results are not just numbers, but a
management, and work management. And we are
representation of the trust and reliance that millions
incredibly well-positioned to seize the opportunity
of users place in our products each day.
in each of these three markets. Our teams are laser-
We successfully ended support for our Server
offering, migrating more customers to our Cloud and
Data Center offerings than we initially projected.
This demonstrates our customers' commitment to
the Atlassian platform and creates an even greater
focused on our top strategic priorities: accelerating
our evolution into a world-class enterprise company,
continuing our advancements in AI, and
empowering team collaboration through the
Atlassian System of Work.
opportunity for us to deliver differentiated value
These opportunities - coupled with Atlassian   s
across the entire product portfolio. We released new
unique business model and ability to deliver
products and features like Atlassian Intelligence,
differentiated customer value - set us up to drive
Compass, and Virtual Agents for Jira Service
long-term, durable growth for years to come.
Management, and welcomed Loom to the Atlassian
family. We also added six new data residency
regions, delivered increased scalability across the
product portfolio, and achieved FedRAMP      In
Process    status, driving further momentum with our
world-class cloud platform.
To the entire Atlassian team, thank you for your hard
work, perseverance, and commitment to
accelerating the power of teamwork. Thank you all
for your support on our journey to unleash the
potential of every team.
We made big strides in the generative AI space.
Atlassian Intelligence, our platform-wide AI offering,
is delivering game-changing innovation and value to
our customers in the cloud with over 30 announced
Atlassian Intelligence features across our cloud
products. We have also introduced Atlassian Rovo,
an entirely new product that takes human-AI
collaboration to the next level by integrating
contextual information, conversational AI, and
agents into workflows. Rovo is an always-on
teammate, ready to answer questions, find data,
and tackle various tasks, allowing our customers to
focus on the highest value work.
Mike Cannon-Brookes
Chief Executive Officer and Co-Founder



shareholder letter icon 10/23/2024 Letter Continued (Full PDF)
 

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