$TEAM reports this afternoon. I don't have many concerns about Atlassian and they're not too far from becoming a core holding that I don't feel the need to track quarter-by-quarter. I'm currently down ~30%, having most recently added shares in February at $298.04.
Here's what I'll be looking for this afternoon:
- Revenue has exceeded management midpoint guidance by 5-18% each of the past 6 quarters. For this Q3, management guided for $697.5MM at the midpoint. $767.25MM in revenue (10% above midpoint) would tickle my fancy.
- Gross profit margins >83%.
- Keep printing FCF.
- Subscription revenue growth >55%, although this may be an unrealistic ask.
- Total customer count >260,000 (~15% growth over Q2).
I'd love for Atlassian to finish out their FY22 strong so I can delete their tab from my spreadsheet, stop reading the 10-Qs and go to only the 8-Ks, and have one less company I follow diligently. They're definitely trending that way.