Atlassian Corp (NASDAQ: TEAM)

Introduction

Atlassian Corporation Plc. is an Australian–American software company specializing in collaboration tools for software development, project management, and IT service management. Founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, the company is headquartered in Sydney, Australia, with a U.S. hub in San Francisco. Atlassian went public on December 10, 2015, under the ticker TEAM.

Corporate Structure and Workforce

• Employees: 12,000+ across 14 countries (as of 2023)
• Legal Structure: Dual-class shares
  • Class A Common Stock (one vote per share)
  • Class B Common Stock (ten votes per share)
• Founders’ Ownership (per Schedule 13G/A filings dated May 9, 2025):
  • Mike Cannon-Brookes: 49,004,024 Class B shares (22.9% of Class A basis)
  • Scott Farquhar: 49,004,024 Class B shares (22.9% of Class A basis)
  • Each founder holds approximately 42.8% of combined voting power

Recent Developments

• May 2, 2025
  • Filed Form 10-Q for the quarter ended March 31, 2025
• May 9, 2025
  • Amendment No. 11 to Schedule 13G/A discloses founders’ Class B holdings
• August 29, 2024
  • Acquisition of Rewatch (AI-powered meeting recorder)
• February 12, 2025
  • Announced multi-year title sponsorship with Williams Racing, renaming the team to Atlassian Williams Racing from the 2025 Formula One season
• April 2024
  • Launched Rovo, an AI-driven search and automation suite
• February 2024
  • Ended sale and support of on-premises “Server” products to focus on Cloud and Data Center editions

Financial and Strategic Analysis

Metric	Value
Stock Price (2025-06-02)	$205.74
Day Change	–0.91%
Volume (2025-06-02)	116,361
Average Daily Volume	32
Market Capitalization	$54.50 billion
Revenue (TTM)	$4.96 billion
Net Income (TTM)	–$429.7 million
Profit Margin	–8.66%
Cash and Equivalents (MRQ)	$2.97 billion
Total Debt/Equity (MRQ)	89.90%
Price/Sales (TTM)	10.93
Price/Book (MRQ)	39.82

• Revenue and Profitability
  • The trailing twelve-month revenue stands at $4.96 billion.
  • The company reported a net loss of $429.7 million, partly attributed to investments in research and development and a shift to cloud services.
• Balance Sheet
  • Cash reserves of $2.97 billion are available for continued product development and investments.
  • A debt-to-equity ratio of approximately 90% indicates leverage used to fund growth and acquisitions.
• Share-Class Strategy
  • The dual-class share structure allows founders to maintain control, with each holding around 42.8% of voting power.

Market Position and Industry Context

• Customer Base:
  • Over 300,000 businesses in more than 200 countries utilize Atlassian's products, including Jira, Confluence, Trello, and Bitbucket.
  • Approximately 80% of Fortune 500 companies use Atlassian software.
• Industry:
  • Atlassian operates within the enterprise collaboration and DevOps tools sector, competing with Microsoft 365, ServiceNow, GitHub, Slack, and others in the SaaS collaboration market.
• Strategic Focus:
  • The company emphasizes cloud-based subscriptions and AI-enhanced workflows (e.g., Atlassian Intelligence).
  • Atlassian continues to expand its partner ecosystem through the Atlassian Marketplace, which includes over 5,700 applications.
  • Investment priorities include open work practices, equity and inclusion initiatives, and sustainability efforts.

TL;DR

• Stock at $205.74 on June 2, 2025 (–0.91%). Traded 116,361 shares vs. an average of 32.
• 10-Q filed May 2, 2025; 12-month revenue of $4.96 billion, net loss of $429.7 million.
• Founders’ Schedule 13G/A on May 9, 2025: each holds 49 million Class B shares (22.9% of Class A basis; 42.8% voting power).
• Key developments: acquired Rewatch (August 29, 2024); launched Rovo (April 2024); secured Williams Racing sponsorship for 2025.
• Outlook: Focus on cloud migration, AI integration, and global expansion supported by a cash position of $2.97 billion.