No Australian stop in Atlassian’s roadshow diary

Atlassian said that it intends to list its common stock on the Nasdaq Global Market under the TEAM stock ticker.

At its most recent private investment funding round, Atlassian was valued at US$3.3 billion (A$4.7 billion).

That’s why the company gives its full-time employees five days of paid leave every year to volunteer with the charitable nonprofit organization of their choice, as discussed in the company’s IPO prospectus, filed earlier today.

In filing its F-1 document with the US Securities Exchange Commission, Atlassian revealed the company has maintained profitability for the last 10 years. It pursues a News Corp style dual class share structure which is not permissible at the ASX, which allows the founders to retain control, reported The Sydney Morning Herald.

Interestingly, as recently as last week, Atlassian claimed that it had over 50,000 customers, across its whole spectrum of products, which includes Slack competitor HipChat, GitHub competitor Atlassian BitBucket, and the JIRA project management tool. We 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.

In late 2014, Atlassian teamed up with Salesforce to create “Pledge 1%”, an initiative to get other tech companies on board with that “1-1-1” concept. And as a foreign company incorporated in London, Atlassian is subject to different accounting standards than its USA peers, the company notes.

“Atlassian is a company that deserves a lot more visibility than they have”, said Al Hilwa, a program director with IDC.

“This public offering will also be the first time in our 13-year history that Atlassian will raise any external financing”, the company said. As we see with other offerings, the shareholder rights for each class are identical for cash flow and earnings, but not in voting.

It’s understood Atlassian, and its lead managers Goldman Sachs and Morgan Stanley, have told fund managers that there are no current plans for the technology company to come to Australia and market the United States listing.

A registration statement relating to these securities has been filed with the SEC, but has not yet become effective.