Australian software developer Atlassian has filed for an initial public offering and will be listed on the US NASDAQ stock exchange under the ticker TEAM.
The company filed an F-1 registration statement with the US Securities and Exchange Commission (SEC) overnight, offering an undetermined number of Class A ordinary shares at $US0.10 each (A$0.14).
At its most recent private investment funding round, Atlassian was valued at US$3.3 billion (A$4.7 billion).
Atlassian said in its prospectus that as of June this year, the company had 5 million monthly active users of its software, spanning 440,000 organisations, and a total of 48,000 customers.
Its biggest sellers, accounting for two-thirds of revenue, are its JIRA team project management software, and the Confluence content creation and collaboration tool. The company also makes the Bitbucket source code repository and HipChat messaging software.
Atlassian counts well-known entities such as PayPal, NASA, Visa, Cisco, Adobe and Tesla as customers.
Revenues for Atlassian climbed from US$148.5 million in 2013 to US$215.1 million in 2014, and hit US$319.5 million in fiscal 2015 on the back of rising subscriptions.
The company has been profitable for the past 10 fiscal years, the prospectus stated. Last year, however, its net income dropped sharply from just under US$19 million to US$6.8 million, due to an increase in research and development spending.
Other operating expenses such as marketing and sales and administration also rose substantially for Atlassian, impacting its profits for fiscal 2015.
Founded in Australia in 2002 by Scott Farquhar and Mike Cannon-Brookes and financed with credit card debt, Atlassian reincorporated in the UK in 2014 with a registered office in London. Its Australian headquarters are in Sydney, along with a US office in San Francisco.
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