Mission Statement, Vision, & Core Values (2024) of Atlassian Corporation Plc (TEAM).

An Overview of Atlassian Corporation Plc (TEAM)

General Summary of Atlassian Corporation Plc (TEAM)

Atlassian Corporation Plc, founded in 2002, is an Australian enterprise software company that develops products for software developers, project managers, and content management. Its flagship products include Jira, Confluence, and Trello, which facilitate project management and team collaboration. As of 2024, Atlassian has expanded its offerings to include cloud-based solutions, enhancing its competitiveness in the software market.

In the fiscal year ending June 30, 2024, Atlassian reported total sales of approximately $4.54 billion, driven largely by subscription-based revenue models and strong demand for its cloud services. The company has also cultivated a robust customer base, serving over 300,000 customers globally, with significant growth in its cloud-based offerings.

Company's Financial Performance in the Latest Financial Reports

For the three months ended September 30, 2024, Atlassian reported total revenues of $1,187.8 million, up 21% from $977.8 million in the same period in 2023. Key highlights include:

• Subscription Revenue: $1,131.9 million, a 33% increase year-over-year.
• Other Revenue: $55.8 million, a decrease of 56% from the previous year.

The growth in subscription revenue was primarily attributed to increased demand from existing customers, with over 90% of total revenues coming from these accounts. The breakdown of total revenues by deployment option is as follows:

The company reported a gross profit of $970.2 million, maintaining a gross margin of 82%. However, Atlassian incurred a net loss of $123.8 million for the quarter, compared to a net loss of $31.9 million in the same period last year. Operating expenses rose to $1,002.1 million, reflecting increased investments in research and development, as well as marketing and sales efforts.

Introduction to Atlassian as a Leader in the Industry

Atlassian is recognized as a leader in the software development and project management industry, with its products being pivotal in enhancing team collaboration and efficiency. The company has successfully transitioned to a cloud-focused business model, capitalizing on the growing demand for SaaS solutions. As of September 30, 2024, Atlassian boasts over 46,844 customers generating more than $10,000 in annual recurring revenue from cloud services, underscoring its robust market position and customer loyalty.

With continuous innovation and a strong commitment to customer success, Atlassian remains well-positioned to drive future growth and maintain its leadership in the industry. For further insights on Atlassian’s strategic initiatives and financial performance, explore the detailed sections below.

Mission Statement of Atlassian Corporation Plc (TEAM)

Mission Statement of Atlassian Corporation Plc (TEAM)

The mission of Atlassian Corporation Plc is to unleash the potential of every team. This mission statement serves as a guiding principle for the company, influencing its strategic direction and operational focus. It emphasizes the importance of collaboration, innovation, and the empowerment of teams to achieve their goals through effective use of Atlassian's tools and solutions.

Core Component 1: Empowering Teams

Atlassian's mission underscores the commitment to empowering teams across various industries and sectors. This is reflected in the company's diverse product suite, which includes:

• Jira: A tool designed for project management and issue tracking, widely used in software development.
• Confluence: A collaborative workspace for teams to create, share, and manage content seamlessly.
• Jira Service Management: A solution for IT service management that enhances collaboration between IT and business teams.

As of September 30, 2024, Atlassian reported over 300,000 customers, showcasing the widespread adoption of its products and the effectiveness of its mission in enhancing teamwork .

Core Component 2: Innovation and Quality

Atlassian's mission emphasizes the importance of continuous innovation and delivering high-quality products. The company's significant investment in research and development (R&D) reflects this commitment. In the three months ended September 30, 2024, Atlassian's R&D expenses totaled $603.1 million, representing a 25% increase compared to the previous year . This focus on innovation is crucial for maintaining a competitive edge in the rapidly evolving technology landscape.

The company's subscription revenue, which reached $1.13 billion for the same period, is primarily driven by the demand for its innovative solutions . This revenue growth further showcases Atlassian's effectiveness in delivering value to its customers through innovative products.

Core Component 3: Collaboration Across Teams

Atlassian's mission statement highlights the significance of collaboration not just within teams but across organizations. The company believes that effective collaboration is essential for achieving success in today's interconnected workforce. Atlassian's tools facilitate communication and collaboration among team members, enabling them to work together efficiently regardless of their physical location.

For instance, the introduction of features such as asynchronous video collaboration with Loom and enhanced integration capabilities within its products allows teams to connect and share information more effectively. This approach is reflected in Atlassian's growing user base and the expansion of its offerings to meet the diverse needs of organizations globally.

This table presents key financial metrics that illustrate Atlassian's growth trajectory and its commitment to its mission of empowering teams through high-quality, innovative solutions. The increase in subscription revenue signifies the strong market demand for Atlassian's collaborative tools, reinforcing the company's mission to enhance teamwork and productivity.

Vision Statement of Atlassian Corporation Plc (TEAM)

Vision Statement of Atlassian Corporation Plc (TEAM)

The vision of Atlassian Corporation Plc focuses on empowering teams to unleash their full potential. The company’s overarching goal is to foster collaboration and innovation across various sectors, which is reflected in their strategic objectives and operations as of 2024.

Atlassian's vision is heavily centered around the idea of empowering teams. This includes providing tools that enhance productivity and collaboration. As of September 30, 2024, Atlassian reported revenues of $1,187.8 million, a 21% increase from the previous year . This growth is indicative of the increasing demand for collaborative tools that support team dynamics.

Atlassian aims to serve a diverse range of customers globally. As of September 30, 2024, the company has over 300,000 customers across various industries. The customer base includes organizations that utilize Atlassian’s products for enhancing team collaboration, reflecting the company's commitment to a broad market reach .

One of the pivotal elements of Atlassian's vision is its focus on cloud-based solutions. The company reported $792.3 million in revenue from cloud offerings for the three months ended September 30, 2024, representing a growth of 31% year-over-year . This illustrates Atlassian's strategic direction towards scalable and flexible solutions that cater to modern business needs.

Atlassian recognizes the importance of innovation in achieving its vision. In the three months ended September 30, 2024, the company invested $603.1 million in research and development, a 25% increase from the previous year . This commitment to innovation is crucial for developing new products and improving existing offerings, ensuring that teams have access to cutting-edge tools.

Despite a net loss of $(123.8 million) for the period, the significant increases in both revenues and investments in R&D highlight Atlassian's focus on long-term growth and innovation .

Atlassian's vision extends to maintaining its core values, which emphasize teamwork, innovation, and transparency. These values are integral to the company's culture and operational strategies, influencing how they interact with customers and develop their products. The alignment of these values with their vision supports their goal of fostering an inclusive and collaborative work environment.

In summary, Atlassian Corporation Plc's vision statement for 2024 encapsulates a commitment to empowering teams, expanding global reach, focusing on cloud solutions, investing in innovation, and maintaining strong corporate values, all while navigating the complexities of a growing customer base and competitive market landscape.

Core Values of Atlassian Corporation Plc (TEAM)

Core Value: Open Company, No Bullshit

This core value emphasizes transparency and honesty within the organization and with its customers. Atlassian aims to foster a culture where employees feel free to express their ideas and concerns openly.

Atlassian demonstrates this commitment through its regular all-hands meetings, where leaders share company performance metrics and strategic goals. For instance, in the most recent quarterly report, Atlassian reported total revenues of $1,187.8 million for the three months ended September 30, 2024, representing a 21.5% increase from $977.8 million in the same period of 2023.

Core Value: Build with Heart and Balance

This value reflects Atlassian's commitment to creating products that not only meet customer needs but also consider the well-being of users and employees. The company invests heavily in research and development to enhance its offerings.

In the three months ended September 30, 2024, Atlassian’s research and development expenses reached $603.1 million, a 25% increase compared to $481.7 million in the previous year. This significant investment underscores the company’s dedication to innovation and user-centric design.

Core Value: Don’t #@!% the Customer

This core value emphasizes the importance of customer satisfaction and trust. Atlassian focuses on understanding customer needs and providing high-quality support.

Atlassian reported that subscription revenue, which is crucial for customer retention, increased to $1,131.9 million in Q3 2024 from $852.0 million in Q3 2023. The company also emphasizes customer feedback in product development cycles, ensuring that user experience is at the forefront of its initiatives.

Core Value: Play, as a Team

This value highlights collaboration and teamwork within the organization. Atlassian believes that the best results come from diverse teams working together.

As of September 30, 2024, Atlassian had over 300,000 customers worldwide, showcasing how collaborative efforts have expanded its market presence. The company's tools, such as Jira and Confluence, are designed to enhance teamwork and productivity across various organizations.

Core Value: Be the Change You Seek

This core value encourages employees to take initiative and lead by example in driving change within the organization and the community.

Atlassian’s commitment to social responsibility is evident in its contributions to the Atlassian Foundation, which saw an increase in funding by $1.9 million in the last quarter. This initiative supports community projects and educational programs globally, embodying the spirit of change and responsibility.

Article updated on 8 Nov 2024

Resources:

• Atlassian Corporation Plc (TEAM) Financial Statements – Access the full quarterly financial statements for Q1 2025 to get an in-depth view of Atlassian Corporation Plc (TEAM)' financial performance, including balance sheets, income statements, and cash flow statements.
• SEC Filings – View Atlassian Corporation Plc (TEAM)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.