Business
Atlassian Announces Preliminary Third Quarter Fiscal Year 2021 Financial Results and Date for Full Third Quarter Fiscal Year 2021 Financial Results
SAN FRANCISCO--(BUSINESS WIRE)-- Atlassian Corporation Plc (NASDAQ: TEAM), a leading provider of team collaboration and productivity software, today
About this update from Atlassian Corporation
[{"type":"text","content":" SAN FRANCISCO--(BUSINESS WIRE)--\nAtlassian Corporation Plc (NASDAQ: TEAM), a leading provider of team collaboration and productivity software, today announced preliminary financial results for its third quarter of fiscal year 2021 ended March 31, 2021. Atlassian also announced that it will release full financial results on Thursday, April 29, 2021 for the third quarter of fiscal year 2021 and its financial outlook for the fourth quarter of fiscal year 2021 ending on June 30, 2021.\n\n“Atlassian is a long-term focused company and we operate with a culture of openness,” said Scott Farquhar, Atlassian’s co-founder and co-CEO. “Consistent with these principles, today we are publicly sharing strong preliminary revenue results for our third quarter which were driven by short-term dynamics related to our server and data center products. Our goal is to separate out this discrete impact from our long-term focus of delivering innovation and customer value. We look forward to sharing more about how we’re unleashing the potential of every team and building the future of modern work at Team ’21 and during our April 29, 2021 quarterly conference call.”\n\nPreliminary Financial Results for Third Quarter of Fiscal Year 2021\n\nRevenue:\n\n\nTotal revenue in the approximate range of $566 million to $572 million for the third quarter of fiscal year 2021. This preliminary result is approximately $85 million above the midpoint of revenue guidance provided during the Q2’21 financial results announcement on January 28, 2021. As discussed in prior shareholder letters, Atlassian expects to see heightened short-term revenue variability given its focus on accelerating customer migration from its server products to its cloud and data center products.\n\n\nThird-quarter revenue outperformance was primarily driven by accelerated short-term demand for on-premises products as a result of customers purchasing ahead of both the discontinuation of new server license sales and price changes to on-premises products during the quarter. Atlassian believes this heightened demand strength is short-term ‘event-driven’ in nature as both the discontinuation of new server license sales and on-premises product price increases became effective in Q3’21.\n\n\nSpecific to reported revenue lines: server license sales, reported in perpetual license revenue, represented approx...