Atlassian Corporation

Good afternoon. Thank you for joining Atlassian's earnings conference call for the fourth quarter of fiscal year 2021. As a reminder, this conference call is being recorded and will be available for replay from the investor relations sections on Atlassian's website following this call. I'll now hand the call over to Martin Lam, Atlassian's head investor relations. Sir, please go ahead.

Good afternoon and welcome to Atlassian's fourth quarter of fiscal year 2021 earnings call. Thank you for joining us today. On the call today we have Atlassian's co-founder and co-CEO Mike Cannon-Brooks and our Chief Financial Officer James Beer. Earlier today we issued a shareholder letter and press release with our financial results and commentary for our fourth quarter and full fiscal year 2021. The shareholder letter is available on Atlassian's work-life blog and the investor relations section of our website, where you will also find other earnings-related materials, including the earnings press release and supplemental investor data sheet. During the call today, we'll make brief opening remarks and then spend the remainder of time on Q&A. This call will include forward looking statements. Forward looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward looking statements. You should not rely upon forward looking statements as predictions of future events. Forward-looking statements represent our management's beliefs and assumptions only as of the date such statements are made, and we assume no obligations to update or revise such statements should they change or cease to be current. Further information on these and other factors that could affect the company's financial results is included in filings we make with the Securities and Exchange Commission from time to time, including the sections entitled Risk Factors and our most recent Form 20-S and Quarterly Form 6-K. During today's call, we will also discuss non-IFRS financial measures. These non-IFRS financial measures are in addition to and are not a substitute for or superior to measures of financial performance prepared in accordance with IFRS. The reconciliation between IFRS and non-IFRS financial measures is available in our shareholder letter, earnings release, and investor data sheet on the IR website. During Q&A, please ask your full question up front so that we can be fair and easily move on to the next speaker. With that, I'll turn the call over to Mike for opening remarks.

Thanks for joining the call today, everyone, from wherever you are in the world. Scott's out on holiday, so it'll be just James and I taking your questions today. We're in lockdown here in Australia, so I hope you and your loved ones are safe wherever you are. As you've already read in our sharehold letter, our Q4 was a ripper of a quarter, as we say out here. We added over 23,000 net new customers. We generated revenue of $560 million, up 30% year over year. Importantly, we grew subscription revenue 50% year over year, with cloud revenue up 47% year over year. and our cloud migration momentum continues to build. Our strong Q4 caps off another year that we're incredibly proud of. We entered FY21 staring down headwinds, and we exited stronger than ever before. I'm proud of our resilience and our ability to execute during a difficult year. We've continued to deliver innovation to technical and non-technical teams, building new products and new capabilities on top of our world-class cloud platform. We searched past 200,000 customers and $2 billion in revenue. We followed through on what we said that we would do. We played offense. We've added more than 1,500 Atlassians to our team. And we'll continue to play offense into FY22 and beyond. We still have a lot of work to do, but the opportunities in front of Atlassian have never been greater. And we're keen to seize those opportunities. Before we move to Q&A, I want to take a moment to thank the thousands of Atlassians around the world whose resilience, passion, and commitment drive the innovation that we continue to deliver to our customers every day, every month, and every quarter. With that, I'll pass to the operator for your questions.