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Atlassian files for IPO ' and it's been profitable for the last ten years

Published by Business Insider on Mon, 09 Nov 2015


Atlassian, the Australian enterprise collaboration software vendor behind popular tools like JIRA and HipChat, has filed its S-1 document with the SecuritiesExchange Commission to go public on the American markets.The document also reveals that Atlassian has been profitable for the last ten years, andrevenue grew 48.5% year-on-year in fiscal 2015 to $319.5 million.But Atlassianhad$6.78 million net income in fiscal 2015, which is actually down from net income of $18.98 million in fiscal year 2014. In the S-1 form, Atlassian says that the dip is because they're reinvesting the cash in the company, in the form of research and development, as it reinvests in making its technology more cloud-friendly and attract more users.Interestingly, as recently as last week, Atlassian claimed that it had over 50,000 customers, across its whole spectrum of products, which includes Slack competitor HipChat, GitHub competitor Atlassian BitBucket, and the JIRA projectmanagement tool.But in this filing, the company discloses that it has 48,000 customers, defined as "organizations that have at least one active and paid license or subscription for which they paid more than $10 per month." It's possible that the gap could be made up of nonprofits and other non-paying customers, as Atlassian is a big proponent of corporate philanthropy.It also has 5 million monthly active users, which gives the founders a long way to go towards their stated goal of 100 million. Even so, it's a large scale compared to lots of other enterprise software vendors.The vast majority of Atlassian shares are owned by co-founders and co-CEOsScott Farquhar and Mike Cannon-Brookes, who each own 37.7% of the company.And while Atlassian never sought a traditional venture capital round in the same way as plenty of other tech companies, Accel Partners bought in for 12.7% of the company via secondary share sales.Even so, the founders will keepa tight control over the company after the IPO: Thanks to a dual-class stock voting structure, of the same type used by Google and Facebook, Cannon-Brookes and Farquhar will maintain a majority voting power over the other shareholders.Atlassian says in this form that it hasn't decided on a stock ticker symbol or which exchange it will be listed on.Goldman Sachs and Morgan Stanley are underwriting.SEE ALSO:The founders of $3 billion Atlassian won't be happy until 100 million people use it every monthJoin the conversation about this storyNOW WATCH: The first computer programmer was a woman and the daughter of a famous poet
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