Despite the revenue jump, Atlassian's projection for the upcoming quarter was disappointing... but that's not gonna stop it from charging ahead.
👉Background: Atlassian is the US-listed, Australian-founded collaboration behemoth which started in 2002 with a project tracker called Jira.
👉 What happened: Since then, it’s launched or acquired a whole range of other workplace products like BitBucket, HipChat and Trello just to name a few. Late last week, Atlassian released its results for the last quarter and they were uglier than the results on The Block Tree Change!
👉 What else: While its revenue was up 31% from the same quarter last year, its projection for the upcoming quarter was $20 million USD less than investors were expecting - but Atlassian wants to keep charging ahead.
💡When the going get tough, the tough get going. Despite a shaky market…and shaky results, Atlassian’s founders aren’t taking a backwards step.
💡Atlassian had planned to hire 1,032 new staff in Australia and New Zealand over the 12 months.. And it ain’t slowing this down. As opposed to a heap of other big tech companies who have put hiring freezes or cuts in place over the last couple of months.
💡Twitter is planning to cut its workforce in half.. Meta has warned of major cuts too. But the Atlassian founders reckon that turbulent markets provide an opportunity to shake up the leaderboards.
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