Summary by Futu AI
Atlassian reported strong Q1 FY2025 results with total revenue reaching $1.19 billion, up 21% YoY, driven by subscription revenue growth of 33% YoY. The company achieved a non-GAAP operating margin of 23% and generated free cash flow of $74.3 million. Cloud revenue grew to $792.3 million, while Data Center revenue increased to $335.6 million.The company announced a new $1.5 billion share repurchase program, set to commence after completing the existing $1.0 billion program. Additionally, Atlassian launched several AI-powered products including Rovo for organizational knowledge management and Atlassian Focus for enterprise strategy planning.Brian Duffy has been appointed as Chief Revenue Officer, effective January 1, 2025. Duffy brings nearly two decades of technology industry experience, most recently serving as President of Cloud at SAP where he successfully scaled the 'RISE with SAP' initiative into a multi-billion dollar business. The company maintains its growth trajectory with 46,844 customers having Cloud ARR greater than $10,000, up 17% YoY.
