Atlassian reported $1.77 billion in quarterly revenue. Growth slowed from 32% two quarters earlier to 24%.
Atlassian, the maker of the Jira and Confluence work-tracking tools, gave the figures for its first fiscal quarter on its earnings call, diginomica reported on Friday.
Cloud revenue reached $1.3 billion, up 31%. Contracted revenue not yet recognised rose 44% to $4.7 billion.
Analysts on the call said the forecast for the current quarter implies about four percentage points of further slowing in cloud growth, more than its forecast 90 days ago suggested. Finance chief James Chuong attributed part of that to tougher year-earlier comparisons and the anniversary of Atlassian's acquisition of DX.
Chuong also said Atlassian starts enforcing usage-based pricing in early December, tying charges to how much customers use. He said it is not "a near-term revenue driver". The company's forecast for the year includes no meaningful revenue from it.
The absence of meaningful usage-based revenue in Atlassian's forecast does not tell customers whether their own bills will rise. The report gives no worked example of how enforcement would change a customer's bill.
Sources
Every story here is open to read. The ERP LEADERS brief goes one step further.
Today's enterprise software news in one short email, each story with its source. Get the brief, free to join.
Welcome back. · Issue 01
