Atlassian Pops in Debut, Brings Light to IPO Market
December 10, 2015
For the last fiscal year, it posted profit of $6.78 million. However, the company said its profit, which shrank by about two-thirds from 2014, may continue to slide as it spends more on developing new technology. That could pose a problem, said James Gellert, CEO of Rapid Ratings, which assesses the financial health of companies. Over the past several months Atlassian has rushed new, potentially lower quality products to market. “If they lose the confidence of the development community they could see … a serious sales problem,” Gellert said.