Collaboration and software development company Atlassian Corp. Plc. has been left smarting by investors seeking an exit after posting disappointing earnings guidance for the second successive quarter today.

The company, which beat market expectations with its fiscal third-quarter earnings, saw its share price tumble more than 11 percent in after-hours trading. It’s the second quarter in a row that Atlassian has seen its stock fall, having also provided lower-than-expected guidance in its previous quarterly financial statement.

Update: Shares didn’t fare quite as badly Friday, falling about 6.5 percent, to $58.21 a share. “Its rebound today suggests that a sizable number of investors believe Atlassian has brighter days ahead,” said Charles King, president and principal analyst at information technology consultant Pund-IT Inc.

Atlassian’s income after certain costs such as stock compensation came in at $24.6 million for the third quarter, or 10 cents per share. Quarterly revenue rose 40 percent, to $223.7 million, from a year ago. The Wall Street analyst consensus was 8 cents a share on revenue of $218 million.

The company, which sells collaboration software such as HipChat, Jira, Confluence, Trello and Stride, also announced big customer wins in the quarter. Atlassian co-Chief Executive Officer Mike Cannon-Brookes noted that the firm added more than 6,000 new customers in the third quarter, a new milestone. He also noted a new office in Bengaluru, India, that he said will play an important role in expanding the company’s global presence.”

Perhaps trying to steel investors for the bad news to come, the company also reported a free cash flow of $86.4 million in the quarter, a 26 percent jump from a year ago.

Unfortunately, that did nothing to offset investors’ concerns over its future profitability. For the current quarter, Atlassian said it expects revenue of between $232 million and $234 million and earnings per share of 12 cents. The revenue outlook was in line with Wall Street’s consensus estimate of $232 million, but the profit forecast fell short of analysts’ forecast of 14 cents.

Image: Atlassian