Atlassian Corporation PLC (NASDAQ:TEAM) Beats Analysts’ Expectations

Atlassian Corporation PLC (NASDAQ:TEAM) stock surges 11.80% (As on August 5, 11:22:24 AM UTC-4, Source: Google Finance) after the company posted better than expected results for the fourth quarter of FY 22. Operating income was $108.9 million for the fourth quarter of fiscal year 2022, compared with operating income of $94.9 million for the fourth quarter of fiscal year 2021. Operating margin was 14% for the fourth quarter of fiscal year 2022, compared with 17% for the fourth quarter of fiscal year 2021. Cash and cash equivalents plus short-term investments at the end of the fourth quarter of fiscal year 2022 totaled $1.5 billion. Cash flow from operations was $230.4 million and free cash flow was $194.7 million for the fourth quarter of fiscal year 2022. Free cash flow margin for the fourth quarter of fiscal year 2022 was 26%.

Net Income and Net Income Per Diluted Share: Net income was $68.1 million for the fourth quarter of fiscal year 2022, compared with net income of $62.2 million for the fourth quarter of fiscal year 2021.

TEAM in the fourth quarter of FY 22 has reported the adjusted earnings per share of 27 cents, beating the analysts’ estimates for the adjusted earnings per share of 26 cents, according to Zacks Investment Research. The company had reported the adjusted revenue growth of 36 percent to $759.8 million in the fourth quarter of FY 22, beating the analysts’ estimates for revenue of $717.8 million.

Meanwhile, Atlassian announced that Joe Binz will join the company as its new Chief Financial Officer (CFO) and Principal Financial Officer, effective September 6, 2022. Joe brings more than 25 years of finance leadership and experience in the technology industry.

For the first quarter ending in October, Atlassian expects its per-share earnings to range from 37 cents to 38 cents. The company expects revenue to be in the range of $795 million to $810 million for the fiscal first quarter. For the first quarter of 2023, the company expects Gross margin is expected to be in the range of 80% to 81% on an IFRS basis and in the range of 84% to 85% on a non-IFRS basis. Operating margin is expected to be approximately (37%) on an IFRS basis and approximately 18% on a non-IFRS basis.

Copyright © 2022. All Rights Reserved. FXDailyReport.Com
Risk Warning: Trading CFDs is a high risk activity and you may lose more than your initial deposit. You should never invest money that you cannot afford to lose. FXDailyReport.com will not accept any liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets.