HomeTrending StocksHere is why Atlassian Corporation Plc (TEAM) stock went up in the...

Here is why Atlassian Corporation Plc (TEAM) stock went up in the after-hours on Thursday?

Atlassian Corporation Plc (TEAM) Stock rose 8.27% in after-hours on Thursday, October 28, 2021, and closed the daily trading at $451.85. Even in the regular trading session, TEAM’s stock gained 1.08%. TEAM shares have risen 99.81% over the last 12 months, and they have moved up 0.05% in the past week. Over the past three months, the stock has gained 28.36%, while over the past six months, it has jumped 75.67%.

Let’s have a look at its recent developments.


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TEAM Stock latest financial results announcement

On October 28, 2021, Atlassian Corporation Plc (TEAM), announced financial results for its first quarter of the fiscal year 2022 ended September 30, 2021.

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Q1 2022 financial highlights

  • TEAM reported revenue of $614.0 million for the first quarter of the fiscal year 2022 compared to $459.5 million for the first quarter of the fiscal year 2021.
  • Operating income was $39.6 million in Q1 2022, compared with an operating income of $11.9 million in Q1 2021.
  • it suffered a net loss of 400.1 million for the first quarter of the fiscal year 2022, compared with a net loss of $21.6 million for the first quarter of the fiscal year 2021.
  • Net loss per diluted share was $1.59 for Q1 2022, compared with a net loss per diluted share of $0.09 for Q1 2021.
  • As of September 30, 2021, the company had cash and cash equivalents, and short-term investments of $1.6 billion.

Q2 2022 financial guidance

For Q2 2022, the company is expecting

  • Total revenue to be in the range of $630 million to $645 million.
  • The gross margin is expected to be approximately 82% on an IFRS basis.
  • The operating margin is expected to be in the range of 15% to 14% on an IFRS basis.
  • Net loss per diluted share is expected to be in the range of $0.42 to $0.39 on an IFRS basis.

TEAM Stock new appointment

On September 09, 2021, Atlassian Corporation Plc (TEAM) appointed Michelle Zatlyn to its board of directors. Michelle is the co-Founder, COO, and President of Cloudflare, Inc. (NET).

TEAM Stock Recognition

On September 07, 2021, Atlassian Corporation Plc (TEAM), named a Visionary in the 2021 Gartner Magic Quadrant™ for IT Service Management Tools. Its Jira Service Management solution focuses on the convergence of digital experiences for development, operational and business teams, catapulting it to the fastest-growing ITSM product by new customer count in 2020.

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Conclusion

The recent improved Q1 2022 financial results were the reason behind its after-market gains on Thursday. we can expect it to continue its positive performance on Friday as well.

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