Best Q4: Atlassian (NASDAQ:TEAM)įounded by Australian co-CEOs Mike Cannon-Brookes and Scott Farquhar in 2002, Atlassian (NASDAQ:TEAM) provides software as a service that makes it easier for large teams of software developers to manage projects, especially in software development.Ītlassian reported revenues of $688.5 million, up 37.3% year on year, beating analyst expectations by 7.16%. Read our full report on Dropbox here, it's free. The stock is down 0.57% since the results and currently trades at $23.43. The company added 300,000 customers to a total of 16,790,000. I’m proud of the progress our team made on evolving our core offerings and expanding our product portfolio to align to our customers’ growing needs, all during our first year as a Virtual First company,” said Dropbox Co-Founder and Chief Executive Officer Drew Houston.ĭropbox delivered the slowest revenue growth of the whole group. It was a mixed quarter for the company, with a decent beat of analyst estimates but slow revenue growth.
Dropbox (NASDAQ:DBX)įounded by the long-serving CEO Drew Houston and Arash Ferdowsi in 2007, Dropbox (NASDAQ:DBX) provides a file hosting cloud platform that helps organizations collaborate and share documents.ĭropbox reported revenues of $565.5 million, up 12.1% year on year, beating analyst expectations by 1.27%. Technology stocks have been hit hard on fears of higher interest rates, but productivity software stocks held their ground better than others, with share price down 3.62% since earnings, on average. The 16 productivity software stocks we track reported a decent Q4 on average, revenues beat analyst consensus estimates by 4.07%, while on average next quarter revenue guidance was 2.22% above consensus.
Rising employee costs and the shift to more remote work has increased the ever-present pressure to improve corporate productivity, which in turn has driven rising demand for productivity software that enables remote work, streamline project management and automate business tasks. As Q4 earnings season comes to a close, it’s time to take stock of this quarters’ best and worst performers amongst the productivity software stocks, including Dropbox (NASDAQ:DBX) and its peers.
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