Atlassian (TEAM) IPO Opens Up 32%

Today's IPO for Atlassian (NASDAQ: TEAM) opened for trading at $27.67 after pricing 22,000,000 Class A ordinary shares at a price of $21 per share, above the expected $19-$20 range.

Goldman, Sachs & Co. and Morgan Stanley & Co. LLC are acting as lead joint book-running managers for the offering. Allen & Company LLC, UBS Securities LLC and Jefferies LLC are acting as additional book-running managers for the offering, and Canaccord Genuity Inc., JMP Securities LLC, Raymond James & Associates, Inc. and William Blair & Company, L.L.C. are acting as co-managers.

Atlassians mission is to unleash the potential in every team. Our collaboration software help teams organize, discuss and complete shared work. Teams at more than 51,000 large and small organizations – including Citigroup, eBay, Coca-Cola, Visa, BMW and NASA – use Atlassian’s tracking, collaboration, communication, service management and development products to work better together and deliver quality results on time.

Total revenues were $148.5 million, $215.1 million and $319.5 million for the fiscal years ended June 30, 2013, 2014 and 2015, respectively, representing a compound annual growth rate of 46.7% from fiscal 2013 to fiscal 2015. Total revenues were $67.9 million and $101.8 million for the three months ended September 30, 2014 and 2015, respectively, representing an annual growth rate of 49.9%. The company generated net income of $10.8 million, $19.0 million and $6.8 million for the fiscal years ended June 30, 2013, 2014 and 2015, respectively, and $3.6 million and $5.1 million for the three months ended September 30, 2014 and 2015, respectively. They also generated free cash flow of $47.1 million, $65.0 million and $65.5 million for the fiscal years ended June 30, 2013, 2014 and 2015, respectively, and $3.6 million and $8.2 million for the three months ended September 30, 2014 and 2015, respectively.

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