Notes from Atlassian S-1

Revenue Distributions

Taking a look at how Atlassian’s current and new business look, based on their S-1. A little outdated, but the basics of their business haven’t changed.


5 million monthly active users 440,000 organizations 48,000 customers1 $319.5 million in revenue Over 97% of customers are self-serve (transactions conducted through the website)

46.7% annual revenue growth rate translates into 3% month over month growth. 864 customers who spent at least $50,000. No customer that accounts for more than 1% of revenue (no one paying more than 3 mil)

Assuming these large customers have an average spend of $100,000 (I’d assume this is an underestimate, as there must be a few customers at 1M+), totaling to around $80 mil or about 25% of revenue. This means the ARPC for the remaining segment is about $5,000 ($240m/47,000).


70,000 visitors 6,500 trials ~60 new customers2

9% signup rate 9% conversion rate

  1. Customers defined as at least one active license at $10/month. 

  2. Atlassian had 11,000 customers in 2010 and 48,000 customers in 2015. This implies at 34% YoY growth rate or 2.5% MoM. This means 1,200 new customers a month (assuming they can sustain their growth rate) or around 60 new customers per working day.