Atlassian expects Trello to generate just $4 million in revenue this fiscal year

Enterprise software company Atlassian today disclosed new financial figures about Trello, the task management startup that it recently acquired.

The company said it expects Trello to bring in $1 million in the third year of Atlassian’s 2017 fiscal year, which will end on March 31, and $4 million in the entire 2017 fiscal year, which will end on June 30. Meanwhile as a whole Atlassian aims to generate $155-$157 million in revenue in the current quarter and $611-$615 million in the fiscal year.

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The Trello guidance suggests that the value of Trello was not in its revenue — team, product, and user base may well have been higher priorities for Atlassian.

As Atlassian president Jay Simons told VentureBeat in an interview earlier this month, “First and foremost, we’re excited about continuing to help the Trello team to build what is still a very young project.”

Atlassian paid $425 million for Trello, making it Atlassian’s most expensive acquisition to date.

For the 2018 fiscal year Atlassian anticipates that Trello will be dilutive to its IFRS earnings per share (EPS).