After last year’s shift to remote work, Atlassian’s quarterly revenue increased to $US568.7 million ($731 million). The previous year, the company lost $US158.8 million. Shifting to remote settings, the Australian software company booked a profit of $US159.8 million for the quarter. Following this growth, Atlassian announced a permanent shift to remote work.
On Friday, the Nasdaq-listed company reported an increase of 38% for its third-quarter revenue. This fast growth depends on the demand for project management tools such as JIRA, Trello, and document sharing platform Confluence.
The Australian software company is listed for $US57 billion, with over 212,807 customers. During the 2020 pandemic, Atlassian recorded 18,473 new subscriptions, almost a third of which came from single-user Trello accounts. Thanks to these numbers, the company forecast revenue between $513 million and $528 million for the final quarter of the year.
Atlassian Shifts to Remote Work: Four Times A Year In The Office
Testing the benefits of remote work, Atlassian switched its customers from server-based products to cloud subscriptions. Founders and co-chief executives Mike Cannon-Brookes and Scott Farquhar describe this shift to remote work as “hard yakka.” The shift to remote models is for customers and employees alike.
Atlassian will maintain its physical offices and will build a massive new Sydney headquarters. The growing demand for Atlassian’s products, the firm’s competitive standing, and its development model will help the $80 billion tech giant grow even more.
Unlike other tech leaders planning to return to the office, Atlassian speeds up the shift to remote work.