Atlassian shares experienced a significant surge, climbing 12 per cent in after-hours trading in New York. The jump followed the release of the company’s latest quarterly results, which highlighted substantial growth in its cloud revenue. Atlassian is a software company that develops products such as Jira and Confluence, designed to help teams organise, discuss and complete shared work. The company’s tools are used by teams worldwide to improve collaboration and productivity.
The company reported that quarterly cloud revenue increased by 26 per cent, reaching $US998 million. In addition to the strong financial performance, Atlassian’s board of directors has authorised a new share repurchase program. This program allows the company to buy back up to $US2.5 billion of its Class A Common Stock. The new initiative is set to commence once the existing $US1.5 billion program, which was previously authorised in September 2024, is completed.
Atlassian also announced changes to its executive leadership team. Tamar Yehoshua will be joining the company as the chief product and AI officer, with her appointment effective from November 17. Furthermore, Joe Binz, the current chief financial officer, has announced his retirement, set for June 30. Further details regarding the company’s second-quarter outlook are expected to be released shortly.
