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Shares of Atlassian (TEAM -2.62%) skyrocketed in August, gaining 92.2%, according to data supplied by S&P Global Market Intelligence. That's orders of magnitude higher than the 2.6% gains of the S&P 500.

The enterprise software specialist helped dispel the popular narrative that artificial intelligence (AI) would eliminate the need for its popular software-as-a-service (SaaS) offerings, sending the stock on a blistering rebound.

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The numbers tell the taleAtlassian helped calm shareholder fears when the company reported financial results that far exceeded expectations and offered robust guidance for the coming year. Strong demand for Atlassian's workplace collaboration software -- which includes Trello, Jira, and Confluence -- put a nail in the SaaS-pocalypse once and for all.

For Atlassian's fiscal 2026 fourth quarter (ended June 30), the company generated revenue that grew 28% year over year to $1.77 million. Expanding operating margins drove profitability higher, as adjusted earnings per share (EPS) soared 98% to $1.87.

For context, analysts' consensus estimates called for revenue of $1.66 billion and EPS of $1.50, so to say Atlassian beat expectations was an understatement.

The results were driven by strength across the company's business. Cloud revenue grew 31% to $1.2 billion. Subscription annual recurring revenue (ARR) rose 23% to $6.6 billion, putting a floor under the company's future results. Moreover, Atlassian's remaining performance obligation (RPO) -- or contractually obligated revenue that hasn't yet been recognized -- jumped 44% to $4.8 billion. This provides insight into the company's future trajectory, which looks decidedly positive.

Atlassian also reported an all-time record quarter for deals worth $1 million, $3 million, and $5 million or more in annual contract value (ACV). In fact, ARR from $3 million customers grew more than 50% year over year, while $5 million deals jumped 70%.

While some investors feared AI would scuttle Atlassian's progress, it actually accelerated it. The company's Rovo AI helps customers find information, interact with data, and automate workflows, and customers are adopting the tool at a brisk pace. Rovo-assisted actions surged 50% quarter over quarter, with Rovo users completing 20% more work items in Jira than non-users, while also creating or editing 25% more Confluence pages than non-users. 

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If there were any doubts that the good times would continue, Atlassian left little doubt. For fiscal 2027, the company forecast total revenue growth of 13%, cloud growth of 25.5%, and subscription ARR growth of 18%. While those benchmarks might seem modest compared to the current quarter, it was ahead of Wall Street's expectations.

Speaking of Wall Street, on the heels of Atlassian’s blockbuster quarter, analysts rushed to revise their financial models, resulting in a wave of upgrades, positive initiations, and price target increases, helping fuel the stock's momentum.

Investor enthusiasm pushed the stock skyward, with a corresponding increase in Atlassian's valuation. The stock is no longer a screaming bargain, but at 28 times next year's expected earnings, the price is reasonable.

Now that fears of the SaaS-pocalypse have been put to rest, Atlassian's track record of growth, strong backlog, and increasing subscription base make the stock a buy.

TEAM's 84.9% three-month surge reflects strong AI adoption and cloud growth, but rising AI costs and a premium valuation warrant caution.

Key Takeaways Atlassian's Rovo is used by more than 80% of the Fortune 500, with usage up 50% sequentially.Rovo users are growing ARR at more than twice the rate of customers that do not use Rovo.Atlassian can drive more seats and revenues through Rovo upgrades, Teamwork Collection and cross-selling. Atlassian Corporation (TEAM - Free Report) is seeing strong adoption of Rovo, which could help drive customer expansion and ARR growth. In the fourth quarter of fiscal 2026, subscription ARR increased 23% year over year. Rovo is now used by more than 80% of the Fortune 500, while Rovo-assisted actions increased 50% sequentially. Further, customers using Rovo are growing their ARR at more than twice the rate of customers that do not use Rovo. The strong adoption and higher usage suggest that Rovo is becoming an important part of Atlassian's efforts to increase spending within its existing customer base.

Rovo is also helping Atlassian increase revenues from existing customers. As Rovo usage rises, customers are buying more Rovo credits. Teamwork Collection offers about 10 times more Rovo credits and is encouraging customers to upgrade and add seats. Atlassian said these upgrades are helping increase average revenue per user. Teamwork Collection customers also have 4-5 times more paid seats per instance than stand-alone Jira or Confluence customers. This gives Atlassian an opportunity to convert higher Rovo usage into more seats, broader product adoption and higher revenue per customer.

Higher AI adoption is also helping Atlassian's cloud business. Cloud revenues increased 31% year over year in the fourth quarter. Management said cross-selling and seat expansion were the main drivers behind the strong cloud momentum. The company also saw strong adoption of Teamwork Collection and Service Collection, while customers continued to add Jira and Confluence seats. As customers use AI across more teams and workflows, Atlassian could have more opportunities to expand its platform within large enterprise accounts.

Atlassian has further room to grow within its existing customer base. Management estimates about $14 billion of opportunity from existing customers without changing products or pricing. These factors suggest that if Rovo usage continues to increase and drives more upgrades, seats and cross-selling, it could help Atlassian support ARR growth. The Zacks Consensus Estimate for TEAM's fiscal 2027 and 2028 revenues indicates year-over-year growth of 13% and 14.8%, respectively.

Atlassian Faces Stiff CompetitionAtlassian faces stiff competition from other key players in the cloud software industry such as Salesforce (CRM - Free Report) and ServiceNow (NOW - Free Report) .

Salesforce competes with Atlassian through offerings such as Agentforce, Data Cloud and Slack, which together create a unified ecosystem that connects customer data with integrated AI across systems, apps and devices. In the first quarter of fiscal 2027, Agentforce’s ARR surpassed $1 billion, up in triple digits year over year. Salesforce expects this momentum to continue in fiscal 2027, on the back of robust customer demand for its agentic offerings.

ServiceNow is seeing strong demand for its Agentic AI products as enterprises look to automate more work and improve productivity. The company is expanding AI across IT, customer service, employee service and security. Management said customers now want AI that can complete tasks and deliver clear business value instead of simply assisting employees. This is helping drive adoption of the company's AI offerings. AI annual contract value (ACV) crossed $1 billion during the second quarter of 2026, and ServiceNow expects AI ACV to exceed $1.5 billion by the end of 2026.

TEAM’s Price Performance, Valuation & EstimatesTEAM shares have jumped 5.6% in the year-to-date period against the Zacks Internet - Software industry’s decline of 4.3%.

TEAM YTD Price Performance
Image Source: Zacks Investment Research

From a valuation standpoint, Atlassian trades at a forward 12-month price-to-sales ratio of 5.73X compared with the industry’s 3.93X. TEAM has a Value Score of F.

TEAM’s Valuation
Image Source: Zacks Investment Research

The Zacks Consensus Estimate for TEAM's fiscal 2027 earnings is pegged at $5.52 per share, revised down by 6.6% over the past 30 days, indicating a year-over year decline of 5.6%.

Image Source: Zacks Investment Research

TEAM stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades, downgrades and initiations, please see our analyst ratings page.

Needham analyst Serge Belanger initiated coverage on Evommune Inc (NYSE:EVMN) with a Buy rating and announced a price target of $28. Evommune closed at $13.79 on Tuesday. See how other analysts view this stock. Daiwa Capital analyst Bintuo Ni initiated coverage on ACM Research Inc (NASDAQ:ACMR) with a Buy rating and announced a price target of $136. ACM Research shares closed at $79.77 on Tuesday. See how other analysts view this stock. Wolfe Research analyst Rudy Li initiated coverage on Harmony Biosciences Holdings Inc (NASDAQ:HRMY) with an Outperform rating and announced a price target of $60. Harmony Biosciences closed at $38.95 on Tuesday. See how other analysts view this stock. RBC Capital analyst Matthew Hedberg initiated coverage on Atlassian Corp (NASDAQ:TEAM) with an Outperform rating and announced a price target of $215. Atlassian shares closed at $166.49 on Tuesday. See how other analysts view this stock. RBC Capital analyst Matthew Hedberg initiated coverage on JFrog Ltd (NASDAQ:FROG) with an Outperform rating and announced a price target of $118. JFrog closed at $89.48 on Tuesday. See how other analysts view this stock. Considering buying ACMR stock? Here’s what analysts think:

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Atlassian Corp. (NASDAQ:TEAM) shares are extending Thursday’s rally on Friday, touching a new all-time high today. Here’s what you need to know.

Atlassian stock is approaching key resistance levels. Why are TEAM shares at highs? Salesforce’s Strong Quarter Continues to Lift Enterprise SoftwareSalesforce Inc.’s (NYSE:CRM) second-quarter report, released after the close Wednesday, set off yesterday’s rally across enterprise software names, and that lift has carried into today. Revenue came in at $11.35 billion, topping the $11.32 billion analysts expected and marking an 11% increase from a year earlier, while adjusted earnings of $5.90 per share far exceeded the $3.27 estimate.

Looking ahead, Salesforce guided third-quarter revenue to $11.42 billion to $11.50 billion, above the $11.41 billion estimate, with adjusted earnings expected between $3.42 and $3.44 per share, ahead of the $3.37 consensus.

The company also raised its full-year revenue outlook to $46.1 billion to $46.4 billion from a prior $45.9 billion to $46.2 billion range, and lifted its full-year adjusted earnings guidance to $16.67 to $16.71 per share from an earlier $14.06 to $14.12 range.

Beyond the Salesforce connection, Atlassian shares are setting fresh records today. The stock surpassed $194 today, passing its 52-week high of $185.73 to mark a new all-time high for the company.

Atlassian’s Rally Looks Stretched On the ChartsThat fresh high comes with a technical picture that reflects just how far the stock has run. Shares are trading roughly 24% above their 20-day moving average of $155.14 and about 78% above their 200-day average of $108.34, an extension typical of a strong trend that has gotten ahead of itself. A golden cross that formed in August, when the 50-day average moved above the 200-day, reinforces the bullish backdrop and tends to draw in trend-following buyers.

Momentum is the bigger story right now. The relative strength index sits at 79.87, deep into overbought territory, signaling the rally has outpaced its recent typical pace. That doesn’t necessarily mean a reversal is coming, but it does raise the odds of a pause, pullback or choppier trading if buying momentum fades.

Traders are watching $157.50 as support, a level close to the 20-day average that has often served as an early buying zone during strong uptrends like this one.

TEAM Shares Are ClimbingTEAM Price Action: Atlassian shares were up 4.40% at $193.79 at the time of publication on Friday. The stock is trading at a new 52-week high, according to Benzinga Pro.

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Analyst’s Disclosure: I/we have a beneficial long position in the shares of TEAM either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Key Takeaways Atlassian's Q4 revenues grew 28%, while cloud revenues rose 31% and subscription ARR increased 23%.Rovo adoption is expanding, with more than 80% of Fortune 500 companies now using the AI offering.Atlassian's agentic automation increased threefold as customers deployed agents beyond software development. Atlassian Corporation (TEAM - Free Report) is seeing higher AI adoption help drive customer expansion. In the fourth quarter of fiscal 2026, revenues increased 28% year over year, while cloud revenues grew 31% year over year. Further, RPO increased 44% year over year, and subscription ARR grew 23% year over year. Management said customers are signing larger deals, adding more seats and using more Atlassian products as they adopt AI. This strong momentum should help TEAM strengthen its position against other key players in the cloud software industry such as ServiceNow (NOW - Free Report) and Salesforce (CRM - Free Report) .

Rovo is playing an important role in this trend. More than 80% of Fortune 500 companies now use Rovo, while Rovo-assisted actions increased 50% sequentially in the fourth quarter. Atlassian said customers using Rovo are growing their ARR at more than twice the rate of non-adopters. The company is also seeing customers expand Rovo into more workflows and business functions, which could create more opportunities for cross-selling and seat expansion.

The Teamwork Graph is another key part of Atlassian's AI strategy. The graph now spans more than 200 billion objects and connections and is designed to give AI agents better access to enterprise data and context. Management said AI and the Teamwork Graph are among the top two reasons customers upgrade to the cloud and Teamwork Collection. The company also reported record activity in large enterprise deals, with customers generating more than $3 million in ARR growing over 50% year over year and those with more than $5 million growing over 70%.

Atlassian's AI opportunity also extends beyond software development. Service Collection revenue growth accelerated in the fourth quarter, while agentic automation increased more than threefold as customers deployed agents in HR, legal, finance and marketing. The above-mentioned factors show that continued AI adoption, cross-selling and seat expansion could help support Atlassian's growth prospects in the upcoming quarters. The Zacks Consensus Estimate for TEAM's fiscal 2027 and 2028 revenues indicates year-over-year growth of 13% and 14.8%, respectively.

Atlassian Faces Stiff CompetitionSalesforce competes with Atlassian through offerings such as Agentforce, Data Cloud and Slack, which together create a unified ecosystem that connects customer data with integrated AI across systems, apps and devices. In the first quarter of fiscal 2027, Agentforce’s ARR surpassed $1 billion, up in triple digits year over year. Salesforce expects this momentum to continue in fiscal 2027, on the back of robust customer demand for its agentic offerings.

ServiceNow is seeing strong demand for its Agentic AI products as enterprises look to automate more work and improve productivity. The company is expanding AI across IT, customer service, employee service and security. Management said customers now want AI that can complete tasks and deliver clear business value instead of simply assisting employees. This is helping drive adoption of the company's AI offerings. AI annual contract value (ACV) crossed $1 billion during the second quarter of 2026, and ServiceNow expects AI ACV to exceed $1.5 billion by the end of 2026.

TEAM’s Price Performance, Valuation & EstimatesTEAM shares have returned 0.5% in the year-to-date period against the Zacks Internet - Software industry’s decline of 3.6%.

TEAM YTD Price Performance
Image Source: Zacks Investment Research

From a valuation standpoint, Atlassian trades at a forward 12-month price-to-sales ratio of 5.46X compared with the industry’s 3.96X. TEAM has a Value Score of F.

TEAM’s Valuation
Image Source: Zacks Investment Research

The Zacks Consensus Estimate for TEAM's fiscal 2027 earnings is pegged at $5.52 per share, revised down by 7.9% over the past 30 days, indicating a year-over-year decline of 5.6%.

Image Source: Zacks Investment Research

TEAM stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

MarketBeat Week in Review – 08/10 - 08/14Atlassian NASDAQ: TEAM said its cloud business momentum continued through the fourth quarter of fiscal 2026, supported by customer upgrades, cross-selling activity and expanding paid seats across both software development and non-technical teams.

Speaking at a KeyBanc conference, Martin Lam, Atlassian’s head of investor relations, said cloud outperformance was driven by upgrades to the company’s Teamwork Collection and cross-sell activity into its Service Collection. Customers upgrading to Teamwork Collection receive 10 times the number of Rovo AI credits, which Lam said has become a primary driver of adoption.

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Atlassian Just Pulled Off the Software Comeback Wall Street Wanted“Customers are upgrading for that additional AI capability,” Lam said, adding that the company also saw continued seat expansion in Jira and Confluence.

Seat Growth Extends Beyond Developers Lam said the company’s seat expansion spanned both software developers and knowledge workers, including teams in human resources, marketing, legal and finance. Atlassian previously disclosed that roughly two-thirds of Jira users and about 70% of Confluence users are knowledge workers or non-software developers.

Atlassian’s AI Pivot Is Starting to Challenge Wall Street’s Bear CaseHe said artificial intelligence is lowering the cost of software development and enabling more businesses to develop digital products and services. However, the resulting growth in work also increases the need for coordination across organizations, Lam said.

Atlassian’s platform is designed to help companies manage, track and plan work across teams, according to Lam. He pointed to the Teamwork Graph, a contextual layer within the platform that connects information, workflows, tools and people.

Lam said the Teamwork Graph can improve AI results by providing context from products including Jira and Confluence. He said Atlassian has found the technology delivers 48% more efficient token usage and 44% better results, as it reduces the need for AI systems to search broadly across an organization without contextual relationships.

Profitability Focus Shifts Toward GAAP Metrics On margins, Lam said Atlassian is increasingly focused on GAAP operating margins as part of its effort to deliver “durable, profitable growth.” The company reported GAAP profitability in the fourth quarter and guided for fiscal 2027 GAAP operating margin of 4.5%, compared with approximately flat GAAP operating margin at the end of fiscal 2026.

Lam said non-GAAP comparisons are affected by several accounting and compensation-related factors. The end of life for Atlassian’s data center product created changes under ASC 606 revenue recognition rules, producing about a four-point benefit to fiscal 2026 non-GAAP operating margin because more subscription revenue was recognized upfront.

For fiscal 2027, the company expects a roughly three-point non-GAAP margin headwind from changing compensation mix between cash and equity for certain employees and roles. Excluding those factors, Lam said non-GAAP operating margins would increase.

Subscription ARR Introduced to Address Migration Noise Atlassian introduced subscription annual recurring revenue as a measure intended to provide a clearer view of its subscription business during the transition away from data center offerings and toward cloud services.

The company reported 23% year-over-year subscription ARR growth in the quarter and initially guided for subscription ARR to grow 18% year-over-year by the end of fiscal 2027. Lam said the measure includes both cloud and data center subscriptions and helps reduce the accounting and timing effects associated with customer migrations.

He cautioned that quarterly ARR performance can vary as Atlassian changes data center pricing, sales compensation structures and partner alignments to support its cloud migration. The company had previously cited customer purchasing that shifted from the fourth quarter into the third quarter following data center pricing changes.

AI Monetization and Enterprise Expansion Lam said Teamwork Collection is currently Atlassian’s main AI monetization vehicle because it gives customers a larger, more predictable pool of Rovo credits at a higher price per user. The company plans to begin enforcing Rovo credit limits during the year, while usage- or consumption-based pricing could become more significant over time.

According to Lam, customers adopting Rovo are growing ARR at twice the rate of customers that do not use the AI offering. Atlassian also has more than 1 million monthly active users of its MCP server and Teamwork Graph command-line interface, which allow third-party AI agents to access Atlassian’s platform. Users of those tools are creating four times as many Jira work items and Confluence pages, Lam said, while growing ARR at twice the rate of non-users.

Service Collection surpassed $1 billion in ARR during the third quarter and was growing more than 30% year over year at that time, Lam said. Growth accelerated in the fourth quarter as customers expanded deployments beyond IT workflows. More than 60% of Service Collection use cases are outside IT, he said, while Rovo agentic automations in the offering increased threefold over a six-month period.

Lam also highlighted Atlassian’s enterprise opportunity. The company has about 400 quota-carrying enterprise sales representatives and 350,000 customers, with many initial customer deployments beginning in relatively small teams before expanding across the organization. He said remaining performance obligations grew 44% year over year, while the cohort of customers spending more than $3 million annually grew more than 50%.

About Atlassian (NASDAQ:TEAM)Atlassian Corporation Plc is a software company headquartered in Sydney, Australia, best known for developing collaboration, project management and software development tools. Founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, Atlassian grew from a small engineering-focused team into a publicly traded company after its initial public offering in 2015. The company serves a global customer base that spans small teams to large enterprises across technology, financial services, government and other sectors.

Atlassian's product portfolio centers on tools designed to help teams plan, build and support software and business processes.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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Should You Invest $1,000 in Atlassian Right Now?Before you consider Atlassian, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Atlassian wasn't on the list.

While Atlassian currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

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Software stocks crashed at the start of 2026 amid growing fears that artificial intelligence would disrupt the growth of many enterprise software providers. But as many software companies seek to set themselves apart from the pack by demonstrating that AI benefits their businesses, the group has begun to recover.

Atlassian (TEAM -2.27%), for example, is up 74% over the past month, as of this writing. Even after that phenomenal growth, the stock has yet to recover its share price from the start of the year. What's more, it remains about 50% below its all-time high from the start of 2025.

But Atlassian looks poised to use its broad software suite and AI to drive higher financial results, and its stock price should follow suit. It can still climb much higher from here.

Image source: Getty Images.

What's driving the stock higher, and can it keep it up?
Shares of Atlassian have benefited from a broader rotation from chipmakers to software stocks, but its rise was fueled by much better-than-expected fourth-quarter earnings. The company grew revenue 28% year over year, driven by strong results from its cloud segment, which accelerated to 31% year-over-year revenue growth.

That's important because the company is migrating customers from on-premises data center deployments to its cloud platform by 2029. Management pulled forward a lot of data center revenue into the third quarter and expects a significant drop-off in sales over the next year. Management's full-year outlook calls for a 17% decline in data center revenue, resulting in an overall 13% deceleration in 2027.

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But Atlassian could outperform that guidance. It's worth noting that management expects its cloud revenue growth to come in at just 25.5% for the full year. That would suggest a considerable slowdown in the back half of the fiscal year.

That's despite management indicating very strong trends with its cloud customers, especially those using its AI platform, Rovo. Management said Rovo adopters are growing their annualized recurring revenue at twice the rate of non-adopters. Expanding Rovo's usage and driving adoption should help push more cloud revenue growth from its existing user base.

Management also continues to see solid performance in retention and expanding usage across teams within an organization. Net revenue retention exceeded 120%. What's more, the growth runway looks strong, with remaining performance obligations climbing 44% to $4.8 billion.

Even after the strong recovery, the stock trades for about 28.6 times forward earnings estimates. That's even though it could produce substantial earnings growth on top of its strong revenue growth over the coming years, thanks to the operating leverage of running a software business. Completing the migration to the cloud platform and sunsetting the on-premises software will also benefit operating margins by streamlining operations.

Overall, the stock still looks cheap and could keep climbing from here.

Atlassian Corporation (NASDAQ: TEAM), a leading provider of AI-powered collaboration and team productivity software, today announced Code Context, a new capabil

Atlassian's AI investments, slower ARR growth and strong competition pressure on profitability, while its premium valuation adds risk.

Atlassian Today

$153.82 +1.95 (+1.28%)

As of 03:41 PM Eastern

This is a fair market value price provided by Massive. Learn more.

52-Week Range$56.01▼

$184.00Price Target$176.27

Sometimes you can call it a comeback. Shares of Atlassian Corp PLC NASDAQ: TEAM exploded 35% higher on Friday, Aug. 7, following an impressive earnings report that left investors thrilled and analysts scrambling to raise price targets.

The stock has completed an impressive turnaround in 2026, shrinking its year-to-date (YTD) loss after a brutal first-half sell-off. But unlike many of its peers posting impressive results, Altassian guided a revenue decline next year, dropping from 26% year-over-year (YOY) in fiscal 2026 to 13% YOY growth in fiscal 2027. How does a stock trading at 220 times forward earnings jump 35% on a declining revenue guide? Because it’s actually part of the plan.

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Atlassian’s Shifting Revenue Mix Explains Market ReactionAtlassian reported its Q4 fiscal year 2026 results after the market closed Aug. 6, and the headline numbers were impressive. Earnings-per-share (EPS) of $1.87 beat consensus estimates by 24.7%, and the revenue figure of $1.77 billion represented YOY growth of more than 27%. Annual recurring revenue (ARR) from subscriptions grew 23% YOY to $6.61 billion, and Remaining Performance Obligations (RPO) grew 44% YOY to $4.82 billion.

But the guidance, at least at first glance, appears tepid. Management expects total revenue to grow just 13% in fiscal 2027, half the rate of growth in fiscal 2026. The company also expects slightly slower Cloud revenue and Subscription ARR growth, while guiding for a 17% contraction in Data Center revenue. However, this is part of the company’s plan to migrate Data Center clients over to the Cloud. Atlassian announced plans to sunset the Data Center segment back in 2025, with End of Life (EOL) scheduled for March 2029. Revenue leaving the Data Center segment isn’t disappearing; it's simply shifting to another part of the business. Plus, Atlassian can sell Cloud customers premium AI features like Rovo, which offer the company more recurring revenue and a higher annual retention rate. Investors anchoring to the 13% headline are pricing in a business that is in the middle of a deliberate dismantling and replacement with a more lucrative one.

Growing Backlog Leads to Analyst UpgradesAtlassian Stock Forecast Today12-Month Stock Price Forecast:
$176.27
13.88% Upside

Moderate Buy
Based on 29 Analyst Ratings

Current Price$154.78High Forecast$295.00Average Forecast$176.27Low Forecast$95.00Atlassian Stock Forecast Details

The breakdown between ARR and RPO is another important factor in the report. Subscription ARR is the current subscription base annualized, meaning it's one period extrapolated over the full 12 months. RPO is the backlog; money that’s been agreed to in contracts and that Atlassian is committed to delivering, but doesn’t yet show up as revenue. ARR looks backward, while RPO looks forward. And RPO growing at nearly twice the rate of ARR means contract duration and size are expanding, as management’s comments bear out. Inked contracts valued at $3 million and $5 million have grown by 50% and 70% YOY, setting company records and signaling that future revenue is becoming more visible and durable.

Analysts were quick to note the backlog expansion and the increasing durability of revenue. The stock received 17 new price targets following the Q4 2026 release, all of which were boosts or new coverage initiations, signaling increased demand for the stock. The average of the 14 new price targets is $176.27, representing upside of more than 14% from current levels. But while several of the price targets now sit at $200, analysts at TD Cowen and UBS Group maintained a Hold/Neutral rating on the stock, so not everyone covering the shares has conviction over the business mix shift.

Chart Hinted at Upward Momentum Building Before Earnings CallEven the U.S. Men’s soccer team would cringe at TEAM’s first-half performance. The drawdown was precipitous, and by April the share price was stuck far below the 50-day and 200-day moving averages. But investors who have been eying the TEAM chart over the last few weeks may have spotted the breakout before the earnings release.

The stock bottomed in early April, but the Moving Average Convergence Divergence (MACD) indicator flipped a bullish cross in early March, hinting that selling pressure was beginning to fade. TEAM shares retook the 50-day moving average shortly after the MACD signal and used it as support during three months of consolidation. Another bullish MACD cross reappeared in the weeks leading up to the Q4 results, and now the post-earnings pop is holding its gap.

The software apocalypse was always an overstated concern, and companies like Atlassian have proven that AI can be an asset, not a threat. However, this was a very quick repricing following a single earnings report. The market won’t be as generous next time now that valuation is no longer distressed and the stock is starting to look overbought. TEAM has recovered from the losses the SaaS panic triggered, and further upside depends on monetizing migrating Cloud customers and continued growth in large contract volume.

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Should You Invest $1,000 in Atlassian Right Now?Before you consider Atlassian, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Atlassian wasn't on the list.

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Atlassian Corporation (NASDAQ:TEAM) stock rose 35% this week in one of the sharpest single-session moves of the year. Shares jumped from a $110.17 close on August 6 to as high as $153.20 intraday on August 7, 2026. The stock had spent much of the summer stuck in the $80–$100 range. So this is one of the biggest one-day moves this year for a large-cap software name.

Here’s what actually drove the move, and what traders and investors should watch next.

Atlassian released its fourth-quarter and full fiscal year 2026 results after market close on August 6, 2026. The top-line and bottom-line numbers were better than expected.

Revenue: $1.766 billion (up 28% year-over-year) versus a consensus estimate of ~$1.66 billion Non-GAAP EPS: $1.87 versus the $1.50 analysts expected (a beat of ~25%) Cloud revenue: grew 31% year-over-year to ~$1.2 billion, growing from prior quarters Subscription ARR: reached $6.6 billion, up 23% year-over-year Remaining Performance Obligations (RPO): +44% year-over-year to $4.8 billion, a strong signal of future contracted revenue Guidance: Q1 FY2027 revenue guided to $1.705–$1.715 billion, above ~$1.67 billion consensus
In short, the Atlassian stock rise wasn’t random — A combination of a "beat-and-raise" print is historically one of the most reliable catalysts for a fast gap-up in growth-software stocks.

The AI Narrative Behind the Atlassian Stock RallyBeyond the raw numbers, Atlassian leaned hard into its AI positioning. Management highlighted that Jira’s new AI-native features (coordinate coding agents and are bundled free into existing Jira Cloud plans) are driving adoption. The company also pointed to its "Teamwork Graph" and MCP server usage surpassing one million MAU (more than 2x in a single quarter).

The market has rewarded credible AI stories all through 2026. So investors now had a growth story to attach to the earnings beat, not just a one-time numbers surprise.

Technical and Positioning FactorsPart of the size of the move also reflects market positioning rather than fundamentals alone. TEAM had been trading near multi-month lows heading into the print, meaning sentiment and short interest were both stretched to the bearish side.

Once the beat-and-raise hit the tape, buyers rushed in. Short-covering added to the move too, and that combination tends to make the first spike bigger.

Five-minute intraday charts on August 7 showed the stock holding above $145 with repeated pushes through $150 (a pattern that suggests sustained dip-buying rather than a single speculative spike).

The Risks: What Could Cap the RallyA few factors argue for caution before chasing the move:

Still GAAP-unprofitable: Atlassian continues to post GAAP net losses and negative GAAP margins, even as non-GAAP metrics look strong. Decelerating long-term growth: Sell-side analysts see revenue growth cooling to ~11% over the next 12 months, well below the 28% just posted. For me this is a sign that easy comparisons and one-time catalysts may not repeat. Data Center segment slowdown: Growth is increasingly cloud-dependent, with the legacy Data Center business losing momentum. Valuation reset risk: After a 35% one-day move, the stock is pricing in a lot of continued AI and cloud execution. Any disappointment on cloud growth in the next print could trigger a fast reversal (a risk flagged by analysts even before this report). What to Watch NextHere is my plan:

Post-earnings drift: Watch for TEAM to hold above the $140-$145 gap-fill zone in the coming weeks. A net hold would confirm institutional buying, not net short-covering. Free cash flow trend: Quarterly free cash flow of ~$561 million (P/FCF of ~12x) is the strongest argument for the stock’s valuation, despite the GAAP losses. Analyst price target revisions: Expect a wave of target hikes and hikes in the days following the report, monitor for confirmation (or skepticism) from short sellers. Q1 FY27 execution: The next real test comes in about three months. Can Atlassian deliver on its raised guidance, especially on cloud growth and AI revenue? ConclusionThe Atlassian stock rise is driven by fundamental factors, not speculative hype. A truly strong quarter that exceeded expectations, accelerating cloud growth, and a compelling track record of AI product success, combined with overly inflated bearish sentiment, have driven significant growth.

However, the stock now trades on high expectations. GAAP losses persist, and long-term growth is slowing. The next few quarters, especially cloud and AI revenue, will decide whether this rally holds or fades.

Benzinga Disclaimer: This article is from an unpaid external contributor. It does not represent Benzinga’s reporting and has not been edited for content or accuracy.

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Alvopetro Energy Ltd (TSX-V:ALV, OTC:ALVOF, FRA:A6Y0) earlier this week reported another strong quarterly performance, with higher production, stronger commodity prices and continued progress at its flagship Murucututu natural gas project in Brazil supporting revenue and cash flow growth.

Speaking with Proactive, chief executive Corey Ruttan said average sales volumes increased 26% year over year to 3,067 barrels of oil equivalent per day. He added that the company's realized natural gas price approached US$11 per MCF during the quarter, while condensate and oil prices also strengthened significantly compared with the same period last year.

Ruttan said the combination of higher production and improved pricing generated revenue of just over US$19 million and funds flow from operations of US$14.1 million. He also highlighted an operating netback of more than US$59 per boe and an 86% netback profit margin, which he said demonstrated the benefits of the company's low-cost operations and Brazil's favourable royalty regime.

Operationally, the company continues to advance development at its wholly owned Murucututu project. Ruttan said the first well drilled during 2026 is ready to begin production, while the second well is currently being drilled and will be followed immediately by another well as part of an accelerated drilling programme.

The company has also brought forward capital spending originally planned for 2027 into 2026 to maintain drilling continuity and capture operational efficiencies. Alongside drilling activity, Alvopetro is expanding production facilities by approximately four times to accommodate future production growth. Upgrades to the gas processing facility are also expected to be completed by the end of September, allowing increased gas production ahead of the larger infrastructure expansion later in the year.

Another near-term catalyst comes from higher contracted gas prices. Ruttan noted that the company's quarterly pricing mechanism increased the contracted gas price to US$11.70 per MCF from August 1, representing an increase of roughly 7% over second-quarter pricing.

Looking ahead, investors can expect a series of operational milestones, including first production from the initial Murucututu well, drilling results from the second well later in August or early September, commencement of the follow-up well, and continued progress on facility expansion projects. Ruttan said these developments, combined with higher gas pricing, position the company well for the remainder of the year, adding, "I think we're on track for another nice quarter and certainly next quarter."

4:15pm: Winning week Wall Street wrapped up the week on a strong note Friday, with all three major averages climbing as investors cheered a softer-than-expected US jobs report and scaled back expectations for further Federal Reserve rate hikes.

The Dow gained 152 points, or 0.3%, to close at 54,037. The S&P 500 advanced 48 points, or 0.6%, to finish at 7,758, while the Nasdaq jumped 342 points, or 1.3%, ending the session at 26,691.

The gains capped off a winning week for the major indexes. The Nasdaq led the charge with a roughly 5% weekly gain, while the S&P 500 climbed nearly 3.5% and the Dow also finished higher.

Stocks rallied after the July nonfarm payrolls report showed the US economy unexpectedly lost 23,000 jobs, sharply missing economist expectations for an 83,000 increase. Investors viewed the weaker labor market data as a sign that the Federal Reserve may have less urgency to raise interest rates at its September meeting.

Treasury yields moved sharply lower following the report, adding further support to equities, particularly growth and technology stocks that tend to benefit from lower borrowing costs.

Looking ahead, investors will turn their attention to next week’s inflation data, with expectations that July consumer price pressures remained relatively contained, although some inflationary pressures could remain concentrated in specific sectors. Retail sales are also expected to show modest growth, while the housing market continues to face pressure from elevated mortgage rates.

The earnings calendar will remain active, with results expected from companies including Applied Materials, Cisco, Barrick Mining Corporation and Rocket Lab.

3:45pm: Proactive news headlines American Resources Corp (NASDAQ:AREC) said its ReElement Technologies affiliate successfully commissioned its first commercial-scale germanium production column, marking a key milestone in scaling its chromatography-based refining process. RBC Capital Markets initiated coverage of Pan African Resources PLC (LSE:PAF, OTCQX:PAFRY, JSE:PAN) with an Outperform rating and a 155p price target, citing expected production growth and rising EBITDA through the end of the decade. Standard Uranium Ltd (TSX-V:STND, OTCQB:STTDF, FRA:9SU0) secured a C$3 million strategic investment through a non-brokered private placement with a Southeast Asian conglomerate, which will acquire a nearly 20% stake in the company. 2:40pm: Market movers Unity Software Inc (NYSE:U) shares rose after Wedbush and Bank of America lifted their outlooks, citing strong growth in its Vector advertising platform and further upside from runtime data integration. Atlassian (NASDAQ:TEAM) shares surged more than 30% after the software company reported better-than-expected fourth-quarter revenue and cloud growth and issued a stronger fiscal 2027 cloud revenue outlook. Lyft Inc (NASDAQ:LYFT) shares gained after the ride-hailing company reported second-quarter revenue and gross bookings that beat expectations alongside continued growth in riders and trips. Canopy Growth Corporation (TSX:WEED, NYSE:CGC) shares climbed after the cannabis company posted stronger-than-expected first-quarter revenue growth and narrowed its adjusted EBITDA loss. Under Armour Inc (NYSE:UA) shares fell after the apparel maker reported an earnings beat but slightly missed revenue expectations and issued a more cautious full-year outlook. Oklo shares jumped despite reporting a wider-than-expected quarterly loss as revenue significantly exceeded analyst estimates. Twilio shares soared after the communications software company delivered second-quarter earnings and revenue that topped Wall Street expectations. Trade Desk Inc (NASDAQ:TTD) shares plunged after the digital advertising company missed second-quarter revenue and earnings estimates and issued weaker-than-expected third-quarter guidance. Cloudflare shares were set to rally after the cloud connectivity company reported second-quarter results that exceeded expectations and provided stronger-than-expected guidance for the current quarter. 1:30pm: 'Impossible to justify' rate hike deVere Group CEO Nigel Green says the scale of the jobs miss removes almost any realistic path to a September rate increase.

"A jobs report this weak, layered on top of two months of substantial downward revisions, makes a hike next month almost impossible to justify.

"Three consecutive months of softening data is not noise. It’s a labour market losing momentum in a way policymakers cannot responsibly ignore."

The deVere CEO added that markets are already repricing accordingly.

"Gold was rallying into this release, and reports of weak hiring will likely extend that move further.

“When a currency loses support at the same time a safe-haven asset gains it, that combination tells you plainly which way sentiment has shifted."

12:05pm: Atlassian (NASDAQ:TEAM) surges Atlassian (NASDAQ:TEAM) (Atlassian (NASDAQ:TEAM)) shares jumped more than 30% on Friday after the software maker posted fourth-quarter revenue and cloud growth that topped analyst estimates and issued a stronger-than-expected cloud revenue outlook for fiscal 2027.

Revenue for the quarter came in at $1.8 billion, up 28% from a year earlier and above the $1.66 billion analysts had expected.

Cloud revenue rose 31% to $1.2 billion, while subscription annual recurring revenue climbed 23% to $6.6 billion. Remaining performance obligations, a measure of contracted future revenue, grew 44% to $4.8 billion.

Jefferies raised its price target on the stock to $200, citing accelerating backlog growth and what it called a cheap valuation relative to peers. The brokerage pointed to cross-selling from Atlassian (NASDAQ:TEAM)'s Service Collection and Teamwork Collection products, along with seat expansion within Jira and Confluence, as drivers of the beat.

11:00am: Mixed signals Analysts largely viewed the weaker-than-expected July jobs report as reinforcing expectations that the Federal Reserve will keep interest rates unchanged, despite a surprise decline in nonfarm payrolls.

Jamie Cox, managing partner at Harris Financial Group, said the loss of 23,000 jobs validated the Fed's decision not to raise rates in July. “While I expect this weakness to be temporary, the softening labor market remains one of my biggest concerns for the economy,” Cox said.

Jeffrey Roach, chief economist at LPL Financial, described the labor market slowdown as "orderly," noting that labor stress indicators remain historically low.

“Today’s jobs report is likely to support risk appetite,” Roach said. “However, the decline in the unemployment rate will complicate the Fed’s decision process because the economy appears to be at full employment.”

Bill Adams, chief US economist at Fifth Third Commercial Bank, said the report reflects slower job growth but a labor market that continues to tighten because of a shrinking labor force.

“The Fed will see the unemployment rate’s further decline in July as a reason to look past the month’s weak payrolls print and continue to focus on controlling inflation,” Adams said.

“The July CPI release will influence the Fed’s September decision more than the month’s jobs report.”

10:00am: Jobs surprise lifts markets Wall Street opened higher on Friday after a surprisingly weak July jobs report reinforced expectations that the Federal Reserve may be nearing the end of its tightening cycle. The Nasdaq climbed 0.7%, while the S&P 500 gained 0.3% and the Dow Jones Industrial Average added 0.2%.

The July employment report showed the US economy lost 23,000 jobs, far below expectations for an increase of 80,000, signaling that the labor market may be losing momentum. Investors viewed the data as reducing the likelihood of additional interest rate hikes this year, lifting equities at the open.

Charlie Ripley, Senior Investment Strategist at Allianz Investment Management, said the sharp payroll miss shifts the market's focus back to the employment side of the Federal Reserve's mandate. "This report squarely puts the spotlight back on the employment side of the Fed's mandate," Ripley said. "The Fed is unlikely to ignore this signal, and, if anything, it raises the bar for any Fed rate increases heading into the fall."

Among individual stocks, Trade Desk plunged after the digital advertising company reported weaker-than-expected earnings and revenue and issued disappointing guidance. Meta Platforms was also in focus after being ordered to pay nearly $1 billion over claims related to harm caused to children through social media.

Looking ahead, markets will also keep an eye on June consumer credit data for additional clues on the strength of consumer spending.

9:00am: Payrolls unexpectedly contract in July The US labor market unexpectedly weakened in July as nonfarm payrolls fell by 23,000, marking the first monthly decline in employment in years and missing expectations for an 80,000-job gain. Private payrolls increased by just 30,000, well below forecasts of 82,000, while May and June payrolls were revised down by a combined 103,000 jobs.

The unemployment rate edged down to 4.1% from an expected 4.2%, although average hourly earnings rose just 0.1% month-over-month and 3.2% year-over-year, both below forecasts. The labor force participation rate slipped to 61.4% from an expected 61.6%, while the average workweek held steady at 34.3 hours.

The weaker-than-expected employment report prompted investors to sharply scale back expectations for a Federal Reserve interest rate hike in September, with market-implied odds falling significantly following the release.

Payrolls day Good morning, and welcome to payrolls day, the Friday each month when Wall Street stops talking over itself to stare at one spreadsheet.

US stock futures nudged higher ahead of the July jobs report, due at 8.30 am eastern time.

Dow futures were essentially flat, the S&P 500 added 0.2% and the Nasdaq-100 rose 0.5%, which counts as enthusiasm after Thursday's muddle.

Economists surveyed by Bloomberg expect 80,000 positions were added last month, with unemployment parked at 4.2%.

Not thrilling, but the labour market has been quietly stable while everyone shouted about inflation and artificial intelligence spending.

The Federal Reserve will be reading closely as it weighs its next move on interest rates.

Oil, meanwhile, kept climbing because the US and Iran still have not shaken hands.

An Iranian semi-official news agency reported explosions in the Strait of Hormuz on Thursday night, blamed on the interception of "hostile targets".

Iran and Oman are still working towards reopening the waterway, though the latest word is US and Israeli ships need not apply.

What all that does to inflation expectations is Friday's other question, with the New York Fed's one-year survey also landing.

Earnings are thin: Vistra, Oklo, Under Armour and Wendy's.

Atlassian (NASDAQ:TEAM) shares jumped more than 30% on Friday after the software maker posted fourth-quarter revenue and cloud growth that topped analyst estimates and issued a stronger-than-expected cloud revenue outlook for fiscal 2027.

Revenue for the quarter came in at $1.8 billion, up 28% from a year earlier and above the $1.66 billion analysts had expected.

Cloud revenue rose 31% to $1.2 billion, while subscription annual recurring revenue climbed 23% to $6.6 billion. Remaining performance obligations, a measure of contracted future revenue, grew 44% to $4.8 billion.

For fiscal 2027, Atlassian (NASDAQ:TEAM) guided for cloud revenue growth of about 25.5%, ahead of consensus, while forecasting total revenue growth of roughly 13% and a decline of about 17% in data center revenue. The company guided subscription ARR growth of about 18% for the year.

Operating cash flow rose 28% to $479 million, and free cash flow increased 32% to $475 million.

Jefferies raised its price target on the stock to $200, citing accelerating backlog growth and what it called a cheap valuation relative to peers. The brokerage pointed to cross-selling from Atlassian (NASDAQ:TEAM)'s Service Collection and Teamwork Collection products, along with seat expansion within Jira and Confluence, as drivers of the beat.

Jefferies also noted Atlassian signed its largest-ever deal with a major consumer technology company during the quarter, which analysts said pushed back against concerns that artificial intelligence tools could erode demand for the company's software. The brokerage said usage of Atlassian's AI product, Rovo, rose 50% quarter over quarter.

Atlassian's CEO Mike Cannon-Brookes has said total revenue growth is expected to trough before reaccelerating in fiscal 2028. Cannon-Brookes has also been purchasing shares under a 10b5-1 trading plan, with Jefferies estimating the total at $250 million.

“We think (the) CEO's purchase signals confidence and that stock at 17x FCF is still reasonable,” analysts added.

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Atlassian’s AI Pivot Is Starting to Challenge Wall Street’s Bear CaseAtlassian NASDAQ: TEAM reported fourth-quarter fiscal 2026 revenue growth of 28% to $1.8 billion, as cloud revenue rose 31% year over year to $1.2 billion. The company said the quarter capped a fiscal year marked by enterprise deal expansion, increasing adoption of its AI offerings and a 12% GAAP operating margin.

CEO and co-founder Mike Cannon-Brookes said remaining performance obligations, or RPO, increased 44% from a year earlier to $4.8 billion. He also highlighted record activity among customers with annual recurring revenue commitments of at least $1 million, $3 million and $5 million. Atlassian's cohort of customers generating more than $3 million in ARR grew more than 50% year over year, while customers above $5 million in ARR grew more than 70%, he said.

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2 Software Stocks Turning AI Fears Into Fundamental GainsThe company issued fiscal 2027 subscription ARR growth guidance of 18%, following 23% growth in fiscal 2026. CFO James Chuong said the outlook reflects a “thoughtful and prudent approach” that balances customer demand and business momentum against uncertainty in the macroeconomic, fiscal-policy and geopolitical environments.

Chuong also noted that fiscal 2026 ARR growth benefited by about 1 percentage point from Atlassian's acquisition of DX, which closed in November 2025. The company will also be comparing against acceleration experienced during the second half of fiscal 2026, he said.

Cloud outperformance driven by cross-sell and seat expansion These are the 3 Biggest AI Winners and Losers of 2026Chuong said data center migrations to cloud progressed in line with expectations and were not a driver of the company’s $49 million cloud-revenue outperformance versus guidance. Data center migrations contributed approximately mid- to high-single-digit growth to cloud revenue during fiscal 2026, he said.

Instead, the primary contributors to the cloud-revenue beat were cross-selling and seat expansion, including uptake of Atlassian’s Service Collection and Teamwork Collection offerings. Service Collection revenue growth accelerated during the fourth quarter, according to Chuong, as customers expanded use of AI agents beyond IT departments into functions including HR, legal, finance and marketing.

Teamwork Collection has also served as a central vehicle for customers adopting AI capabilities, including additional Rovo credits. Chuong said the offering provides customers with predictability and the ability to distribute token usage across their organizations. He added that Teamwork Collection customers have four to five times more paid seats than standalone Jira or Confluence customers.

The company said net revenue retention was above 120% in the quarter. Chuong said seat expansion remained broad-based across core Jira and Confluence products as well as the company’s collections. Approximately two-thirds of Jira and Confluence users are knowledge workers outside software development, including employees in HR, legal and finance, he said.

Rovo adoption and Teamwork Graph cited as AI advantages Cannon-Brookes said Rovo is now used by more than 80% of the Fortune 500, while Rovo-assisted actions rose 50% sequentially. Customers that adopt Rovo are growing ARR at more than twice the rate of non-adopters, according to the company.

He attributed much of the AI offering’s customer value proposition to the Teamwork Graph, Atlassian’s data and context layer. The graph spans more than 200 billion objects and connections, Cannon-Brookes said. For agents grounded in the Teamwork Graph, Atlassian said organizations can receive answers that are up to 44% more accurate while using 48% fewer tokens.

“Context, their internal knowledge, experience, and memory is much harder for organizations to build and it cannot be hired,” Cannon-Brookes said, arguing that the company’s historical work data and connections across applications provide a structural advantage.

During customer discussions, AI and the Teamwork Graph were among the top two cited reasons for upgrading to cloud and Teamwork Collection, Cannon-Brookes said. He said customers are seeking better quality responses, lower token consumption and faster results across structured workflows such as Jira and Service Collection, as well as unstructured workflows including Confluence, Loom and Trello.

Atlassian also said MCP and command-line-interface users surpassed 1 million and more than doubled during the quarter. MCP calls increased 400% in the quarter, Cannon-Brookes said, as users and agents accessed the Teamwork Graph from other platforms.

Profitability outlook includes continued AI and enterprise investments Chuong said Atlassian expects a 6.5% GAAP operating margin in the first quarter of fiscal 2027 and a 4.5% GAAP operating margin for the full year. The company plans to pursue durable, profitable growth through disciplined hiring, resource reallocation and moderating stock-based compensation, while continuing investments in AI and enterprise sales.

Cannon-Brookes said the company’s AI cost structure reflects multiyear work on its AI gateway, which blends multiple models and manages traffic and serving costs. Despite increased usage, he said the company has focused on providing AI results at a competitive cost while maintaining profitability objectives.

On the enterprise opportunity, Chuong said Atlassian is present in 85% of the Fortune 500, but those customers account for roughly 10% of total revenue. He characterized the company as still being in the early stages of building its enterprise go-to-market motion, supported by investments in product compliance, sales and customer-success capabilities.

Cannon-Brookes said the quarter’s large-deal momentum did not result from a single change, but rather reflected years of investment in enterprise technology, compliance and customer engagement. He said customers are increasingly viewing Atlassian as a strategic platform and making longer commitments, signing larger deals and expanding their deployments across collections.

About Atlassian (NASDAQ:TEAM)Atlassian Corporation Plc is a software company headquartered in Sydney, Australia, best known for developing collaboration, project management and software development tools. Founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, Atlassian grew from a small engineering-focused team into a publicly traded company after its initial public offering in 2015. The company serves a global customer base that spans small teams to large enterprises across technology, financial services, government and other sectors.

Atlassian's product portfolio centers on tools designed to help teams plan, build and support software and business processes.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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Key Takeaways Atlassian posted record $1M, $3M and $5M deal activity, with $5M ARR customers up more than 70%.Rovo adopters are growing ARR at more than twice the rate of non-adopters as AI usage expands.TEAM guides fiscal 2027 subscription ARR growth to 18%, reflecting prudence amid external uncertainty. Atlassian Corporation (TEAM - Free Report) used its fourth-quarter fiscal 2026 earnings call to emphasize cloud growth, enterprise deal activity and deeper AI adoption. CEO and Co-Founder Mike Cannon-Brookes said customers are committing more broadly to the platform as Rovo and the Teamwork Graph become embedded in workflows.

The call also set up a measured fiscal 2027 outlook. CFO James Chuong said guidance balances strong demand signals with macroeconomic, fiscal-policy and geopolitical uncertainty.

TEAM Enterprise Demand AcceleratesCEO Cannon-Brookes said Atlassian posted record fourth-quarter deal activity at the $1 million, $3 million and $5 million levels. Customers with at least $3 million of ARR grew more than 50% year over year, while the $5 million cohort grew more than 70%.

TEAM’s fourth-quarter fiscal 2026 adjusted earnings of $1.87 per share topped the Zacks Consensus Estimate of $1.48. Total revenues reached $1.77 billion, beating the Zacks Consensus Estimate of $1.66 billion by 6.50%.

CEO Cannon-Brookes also highlighted 44% year-over-year RPO growth to $4.8 billion and a GAAP operating margin of 12%, tying the results to enterprise, AI and Atlassian's System of Work.

Atlassian Makes AI a Core Growth EngineCEO Cannon-Brookes said Rovo is used by more than 80% of the Fortune 500, while Rovo-assisted actions rose 50% sequentially. Rovo adopters are growing ARR at more than twice the rate of non-adopters.

The Teamwork Graph spans more than 200 billion objects and connections. CEO Cannon-Brookes said agents grounded in that context can deliver up to 44% more accurate answers while using 48% fewer tokens.

A BTIG analyst asked about buying behavior. CEO Cannon-Brookes said AI and the Teamwork Graph are among the top reasons customers cite for moving to cloud and upgrading to Teamwork Collection.

TEAM Sets FY27 Guide With PrudenceCFO James Chuong said Atlassian is guiding fiscal 2027 subscription ARR growth to 18%, compared with 23% exiting fiscal 2026. He characterized the forecast as prudent rather than a change in business momentum.

A Morgan Stanley analyst asked about the deceleration. CFO Chuong said management is allowing more prudence in the second half because the year is early and the external environment remains uncertain.

CFO Chuong also noted fiscal 2026 ARR growth benefited by about one percentage point from the DX acquisition. Atlassian expects to lap that contribution while continuing to scale its enterprise go-to-market motion.

Atlassian Sees Cloud Strength From Cross-SellA Wells Fargo analyst asked what drove cloud outperformance. CFO Chuong said Data Center migrations tracked expectations and did not drive the $49 million cloud revenue beat.

CFO Chuong identified cross-sell and seat expansion as the main drivers. He pointed to strong adoption of Service Collection and Teamwork Collection, with the latter providing more Rovo credits and broader AI access.

CFO Chuong also said Teamwork Collection customers have four to five times more paid seats per instance than standalone Jira or Confluence customers. Seat expansion remained broad-based.

TEAM Holds Margins as AI Usage RisesA UBS analyst asked about margin resilience as AI usage expanded. CFO Chuong pointed to disciplined hiring, resource reallocation and moderation in stock-based compensation while maintaining investment in AI and enterprise sales.

CFO Chuong said Atlassian is targeting a 6.5% GAAP operating margin for fiscal Q1 2027 and 4.5% for full-year fiscal 2027, establishing a path toward expanding GAAP profitability.

CEO Cannon-Brookes added that Atlassian's multiyear AI gateway strategy and model blending are helping control serving costs even as usage rises. He cited a 400% increase in MCP calls during the quarter.

Atlassian Frames Enterprise Gains as DurableA Wolfe Research analyst asked what unlocked the stronger enterprise motion. CEO Cannon-Brookes said there was no single catalyst, pointing to years of improvement in compliance, cloud scale, sales and customer success.

CFO Chuong said Atlassian remains early in enterprise penetration despite its Fortune 500 presence. Management's closing posture centered on AI investment, enterprise relationships and converting platform adoption into larger, longer customer commitments.

TEAM Zacks Signals Show Mixed ProfileTEAM carries a Zacks Rank #4 (Sell) at present. Its Growth Score of A is favorable, while the Value Score of F and Momentum Score of F are weak; the combined VGM Score is C.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Under the Zacks framework, Style Scores are most effective when paired with Zacks Rank #1 or 2 (Buy) stocks. TEAM's Growth Score is strong, but its current Zacks Rank and weaker Value and Momentum scores create a mixed profile. The Zacks Rank can change as earnings estimates are revised after the latest results.

Atlassian (NASDAQ:TEAM) shares jumped more than 30% on Friday after the software maker posted fourth-quarter revenue and cloud growth that topped analyst estimates and issued a stronger-than-expected cloud revenue outlook for fiscal 2027.

Revenue for the quarter came in at $1.8 billion, up 28% from a year earlier and above the $1.66 billion analysts had expected.

Cloud revenue rose 31% to $1.2 billion, while subscription annual recurring revenue climbed 23% to $6.6 billion. Remaining performance obligations, a measure of contracted future revenue, grew 44% to $4.8 billion.

For fiscal 2027, Atlassian (NASDAQ:TEAM) guided for cloud revenue growth of about 25.5%, ahead of consensus, while forecasting total revenue growth of roughly 13% and a decline of about 17% in data center revenue. The company guided subscription ARR growth of about 18% for the year.

Operating cash flow rose 28% to $479 million, and free cash flow increased 32% to $475 million.

Jefferies raised its price target on the stock to $200, citing accelerating backlog growth and what it called a cheap valuation relative to peers. The brokerage pointed to cross-selling from Atlassian's Service Collection and Teamwork Collection products, along with seat expansion within Jira and Confluence, as drivers of the beat.

Jefferies also noted Atlassian signed its largest-ever deal with a major consumer technology company during the quarter, which analysts said pushed back against concerns that artificial intelligence tools could erode demand for the company's software. The brokerage said usage of Atlassian's AI product, Rovo, rose 50% quarter over quarter.

Atlassian's CEO Mike Cannon-Brookes has said total revenue growth is expected to trough before reaccelerating in fiscal 2028. Cannon-Brookes has also been purchasing shares under a 10b5-1 trading plan, with Jefferies estimating the total at $250 million.

“We think (the) CEO's purchase signals confidence and that stock at 17x FCF is still reasonable,” analysts added.

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page.

HC Wainwright & Co raised the price target for Halozyme Therapeutics, Inc. (NASDAQ:HALO) from $95 to $115. HC Wainwright & Co. analyst Mitchell S. Kapoor maintained a Buy rating. Halozyme Therapeutics shares closed at $85.76 on Thursday. See how other analysts view this stock. Barclays increased Commercial Metals Co (NYSE:CMC) price target from $75 to $80. Barclays analyst Richard Garchitorena maintained an Equal-Weight rating. Commercial Metals shares closed at $73.69 on Thursday. See how other analysts view this stock. BTIG boosted price target for Atlassian Corp (NASDAQ:TEAM) from $130 to $180. BTIG analyst Allan Verkhovski maintained a Buy rating. Atlassian shares closed at $110.17 on Thursday. See how other analysts view this stock. Keefe, Bruyette & Woods raised the price target for Assurant Inc (NYSE:AIZ) from $310 to $325. Keefe, Bruyette & Woods analyst Tommy McJoynt maintained an Outperform rating. Assurant shares closed at $296.40 on Thursday. See how other analysts view this stock. Deutsche Bank raised Unity Software Inc (NYSE:U) price target from $31 to $50. Deutsche Bank analyst Benjamin Black upgraded the stock from Hold to Buy. Unity Software shares closed at $40.81 on Thursday. See how other analysts view this stock. Needham cut Applied Optoelectronics Inc (NASDAQ:AAOI) price target from $220 to $190. Needham analyst Ryan Koontz maintained a Buy rating. Applied Optoelectronics shares closed at $124.22 on Thursday. See how other analysts view this stock. Stephens & Co. raised Texas Roadhouse Inc (NASDAQ:TXRH) price target from $180 to $205. Stephens & Co. analyst Jim Salera maintained an Equal-Weight rating. Texas Roadhouse shares closed at $208.17 on Thursday. See how other analysts view this stock. BMO Capital cut the price target for HubSpot Inc (NYSE:HUBS) from $230 to $215. BMO Capital analyst Keith Bachman downgraded the stock from Outperform to Market Perform. HubSpot shares closed at $202.43 on Thursday. See how other analysts view this stock. TD Cowen raised US Foods Holding Corp (NYSE:USFD) price target from $116 to $119. TD Cowen analyst Andrew M. Charles maintained a Buy rating. US Foods shares closed at $106.97 on Thursday. See how other analysts view this stock. Barclays boosted Etsy Inc (NYSE:ETSY) price target from $82 to $94. Barclays analyst Trevor Young maintained an Overweight rating. Etsy shares closed at $82.26 on Thursday. See how other analysts view this stock. Considering buying TEAM stock? Here’s what analysts think:

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Quarterly revenue of $1,766 million, up 28% year-over-year

Quarterly cloud revenue of $1,213 million, up 31% year-over-year

Subscription ARR of $6,606 million, up 23% year-over-year

Remaining performance obligations of $4,817 million, up 44% year-over-year

Quarterly GAAP operating margin of 12% and non-GAAP operating margin of 36%

TEAM Anywhere/SAN FRANCISCO--(BUSINESS WIRE)--Atlassian Corporation (NASDAQ: TEAM), a leading provider of AI-powered collaboration and team productivity software, today announced financial results for its fourth quarter and fiscal year ended June 30, 2026. A shareholder letter was posted on the Investor Relations section of Atlassian’s website at https://investors.atlassian.com.

“Q4 closes out a year that proves our long-term strategy is paying off. Total revenue grew 28% year-over-year to $1.8 billion, Cloud revenue growth accelerated to 31% year-over-year, and our MCP server and Teamwork Graph CLI surpassed one million monthly active users, more than doubling in a single quarter,” said Mike Cannon‑Brookes, Atlassian’s CEO and co‑Founder. “In the AI era, context is the edge but it's hard to build and can't be hired. Thanks to 25 years of connecting teams, customers get one of the best context graphs for orchestrating agentic workflows. Simply put, the Teamwork Graph helps every customer get better, faster, and cheaper results with AI.”

“Q4 was a strong finish to fiscal 2026, with Subscription ARR of $6.6 billion, increasing 23% year-over-year, and RPO growing 44% year-over-year to $4.8 billion. Enterprises view Atlassian as a long-term, strategic partner and are deepening their commitment to our open platform to securely deploy agents across their organizations with the unmatched context of the Teamwork Graph,” said James Chuong, Atlassian's CFO. “We’re complementing that top-line strength with real operational discipline. We achieved GAAP profitability, with an operating margin of 12% in Q4, reflecting our commitment to driving durable, long-term growth.”

Fourth Quarter Fiscal Year 2026 Financial Highlights:

On a GAAP basis, Atlassian reported:

Revenue: Total revenue was $1,766 million for the fourth quarter of fiscal year 2026, up 28% from $1,384 million for the fourth quarter of fiscal year 2025. Operating Income (Loss) and Operating Margin: Operating income was $211 million for the fourth quarter of fiscal year 2026, compared with operating loss of $28 million for the fourth quarter of fiscal year 2025. Operating margin was 12% for the fourth quarter of fiscal year 2026, compared with (2%) for the fourth quarter of fiscal year 2025. Net Income (Loss) and Net Income (Loss) Per Diluted Share: Net income was $139 million for the fourth quarter of fiscal year 2026, compared with net loss of $24 million for the fourth quarter of fiscal year 2025. Net income per diluted share was $0.55 for the fourth quarter of fiscal year 2026, compared with net loss per diluted share of $0.09 for the fourth quarter of fiscal year 2025. Balance Sheet: Cash and cash equivalents at the end of the fourth quarter of fiscal year 2026 totaled $1,240 million. On a non-GAAP basis, Atlassian reported:

Operating Income and Operating Margin: Operating income was $636 million for the fourth quarter of fiscal year 2026, compared with operating income of $336 million for the fourth quarter of fiscal year 2025. Operating margin was 36% for the fourth quarter of fiscal year 2026, compared with 24% for the fourth quarter of fiscal year 2025. Net Income and Net Income Per Diluted Share: Net income was $473 million for the fourth quarter of fiscal year 2026, compared with net income of $259 million for the fourth quarter of fiscal year 2025. Net income per diluted share was $1.87 for the fourth quarter of fiscal year 2026, compared with net income per diluted share of $0.98 for the fourth quarter of fiscal year 2025. Free Cash Flow: Cash flow from operations was $479 million and free cash flow was $475 million for the fourth quarter of fiscal year 2026. Free cash flow margin for the fourth quarter of fiscal year 2026 was 27%. Fiscal Year 2026 Financial Highlights:

On a GAAP basis, Atlassian reported:

Revenue: Total revenue was $6,572 million for fiscal year 2026, up 26% from $5,215 million for fiscal year 2025. Operating Income (Loss) and Operating Margin: Operating income was $10 million for fiscal year 2026, compared with operating loss of $130 million for fiscal year 2025. Operating margin was 0.2% for fiscal year 2026, compared with (3)% for fiscal year 2025. Net Loss and Net Loss Per Diluted Share: Net loss was $54 million for fiscal year 2026, compared with net loss of $257 million for fiscal year 2025. Net loss per diluted share was $0.21 for fiscal year 2026, compared with net loss per diluted share of $0.98 for fiscal year 2025. On a non-GAAP basis, Atlassian reported:

Subscription ARR: Subscription ARR was $6,606 million as of June 30, 2026, up 23% from $5,382 million as of June 30, 2025. Operating Income and Operating Margin: Operating income was $1,996 million for fiscal year 2026, compared with operating income of $1,287 million for fiscal year 2025. Operating margin was 30% for fiscal year 2026, compared with 25% for fiscal year 2025. Net Income and Net Income Per Diluted Share: Net income was $1,526 million for fiscal year 2026, compared with net income of $976 million for fiscal year 2025. Net income per diluted share was $5.85 for fiscal year 2026, compared with net income per diluted share of $3.68 for fiscal year 2025. Free Cash Flow: Cash flow from operations was $1,353 million and free cash flow was $1,319 million for fiscal year 2026. Free cash flow margin for fiscal year 2026 was 20%. A reconciliation of GAAP to non-GAAP financial measures has been provided in the financial statement tables included in this press release. An explanation of these measures is also included below, under the heading “About Non-GAAP Financial Measures.”

Recent Business Highlights:

AI-Native Software Development Lifecycle: Atlassian released new agentic development capabilities in Jira that help teams orchestrate and scale agentic work across the full software development lifecycle. With new AI capabilities, engineers can turn intent into agent-ready specs, assign work to coding agents, monitor sessions, automate engineering loops, and measure AI cost against output. Enterprise Trust: Atlassian delivered key capabilities for enterprise AI adoption at scale: Atlassian Isolated Cloud: Atlassian launched Isolated Cloud into general availability, offering dedicated, physically separate cloud environments for regulated workloads with data egress blocked. This deployment offering enables even more enterprise customers to unlock the value of the AI-powered Atlassian system of work. AI Governance: Atlassian launched advanced AI admin controls across cloud enterprise editions into general availability. These controls allow large, highly complex organizations to enable Rovo while meeting legal, privacy, and regulatory needs. HIPAA compliance availability for Rovo: Atlassian expanded its HIPAA coverage by adding Rovo to its covered apps, unlocking AI for customers in the highly regulated healthcare space. A Leader in the 2026 Gartner® Magic Quadrant™ for Developer Productivity Insight Platforms: Atlassian (DX) was recognized as a Leader in the 2026 Gartner® Magic Quadrant™ for Developer Productivity Insight Platforms¹. As AI reshapes how software gets built, engineering leaders need evidence-based ways to measure, understand, and govern its impact across the software development lifecycle. Atlassian’s DX platform gives enterprises the frameworks and data to do exactly that – combining quantitative engineering metrics with the Developer Experience Index (DXI) through the DX Core 4, quantifying the utilization, impact, and cost of AI and agents, while also benchmarking performance against the industry’s largest dataset of engineering organizations. A Leader in the 2026 Gartner® Magic Quadrant™ for DevSecOps Platforms: Atlassian was recognized as a Leader in the 2026 Gartner® Magic Quadrant™ for DevSecOps Platforms² for the fourth consecutive year. Atlassian’s AI-powered system of work for software development lifecycle (SDLC) – including apps like Jira, DX, and Rovo, all connected by the Teamwork Graph – enables agents and humans to collaborate across the entire SDLC to deliver innovation at scale. A Leader in the 2026 Gartner® Magic Quadrant™ for IT Service Management Platforms: Atlassian was recognized as a Leader in the 2026 Gartner® Magic Quadrant™ for IT Service Management Platforms³. Delivered through the AI-powered Service Collection – including Jira Service Management, Rovo, and the Teamwork Graph – Atlassian connects support teams with trusted knowledge, past requests, relevant people, agents, and related work across Atlassian and third-party tools to resolve issues faster and deliver exceptional service experiences at scale. A Leader in The Forrester Wave™: Conversational AI Platforms for Employee Services, Q3 2026: Atlassian was recognized as a Leader in The Forrester Wave: Conversational AI Platforms for Employee Services, Q3 2026, evaluated on its Service Collection powered by Rovo. Atlassian stands out for its context capabilities through its differentiated Teamwork Graph and offers AI agents for IT, HR, and beyond – embedding Rovo directly into the key surfaces where employees already work. Atlassian believes this recognition reflects its commitment and momentum in service management, and how fundamental investments in the platform and AI further our mission to unleash the power of every team. MCP Server and Teamwork Graph CLI Crosses 1 million MAU: Atlassian's MCP server and Teamwork Graph CLI hit 1 million MAU, making it the fastest-growing integration surface in company history. These tools provide customers a secure, permissioned way to connect any AI agent - from Claude to Cursor to ChatGPT - directly to their work across Atlassian and third-party tools, grounding those agents in the Teamwork Graph so they deliver more accurate, context-rich answers wherever teams already work. Executive Appointment

Atlassian welcomed Ken Exner on August 4, 2026 as its new Chief Product Officer, Enterprise and Emerging. In this role, Ken will lead product strategy across four product collections: Service, Strategy, Product, and Software. In addition, Ken will focus on security, governance, and compliance solutions, that give public sector and enterprise organizations the trust and scale to run Atlassian enterprise-wide.

Ken brings more than 30 years of experience in developer and management tools, including leadership roles at AWS, where he was among the first 40 employees, and helped create many early services and features. Most recently at Elastic, he managed the three businesses of Search, Observability, and Security helping to double the company’s ARR to nearly $2 billion.

Founder Purchase Plan

Today, Mike Cannon-Brookes, Atlassian’s CEO and co-Founder, announced his intention to enter into a trading plan to make open market purchases of up to $250 million in shares of Atlassian’s Class A Common Stock. The trading plan will be structured to satisfy the affirmative defense of Rule 10b5-1(c).

Financial Targets:

Atlassian is providing its financial targets as follows:

First Quarter Fiscal Year 2027:

Total revenue is expected to be in the range of $1,705 million to $1,715 million. Cloud revenue growth year-over-year is expected to be approximately 28.5%. Data Center revenue growth year-over-year is expected to decline approximately (4.0%). Marketplace and other revenue growth year-over-year is expected to be approximately 12.5%. Gross margin is expected to be approximately 85.0% on a GAAP basis and approximately 87.0% on a non-GAAP basis. Operating margin is expected to be approximately 6.5% on a GAAP basis and approximately 28.5% on a non-GAAP basis. Fiscal Year 2027:

Subscription ARR growth year-over-year is expected to be approximately 18.0%. Total revenue growth year-over-year is expected to be approximately 13.0%. Cloud revenue growth year-over-year is expected to be approximately 25.5%. Data Center revenue growth year-over-year is expected to decline approximately (17.0%). Marketplace and other revenue growth year-over-year is expected to be approximately 12.0%. Gross margin is expected to be approximately 84.5% on a GAAP basis and approximately 86.5% on a non-GAAP basis. Operating margin is expected to be approximately 4.5% on a GAAP basis and approximately 25.0% on a non-GAAP basis. For additional commentary regarding financial targets, please see Atlassian’s fourth quarter fiscal year 2026 shareholder letter dated August 6, 2026.

With respect to Atlassian’s expectations under “Financial Targets” above, a reconciliation of GAAP to non-GAAP gross margin and operating margin has been provided in the financial statement tables included in this press release.

Shareholder Letter and Webcast Details:

A detailed shareholder letter is available on the Investor Relations section of Atlassian’s website at https://investors.atlassian.com. Atlassian will host a webcast to answer questions today:

When: Thursday, August 6, 2026 at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time). Webcast: A live webcast of the call can be accessed from the Investor Relations section of Atlassian’s website at https://investors.atlassian.com. Following the call, a replay will be available on the same website. Atlassian has used, and will continue to use, its Investor Relations website at https://investors.atlassian.com as a means of making material information public and for complying with its disclosure obligations.

About Atlassian

Atlassian unleashes the potential of every team. A recognized leader in software development, work management, and enterprise service management software, Atlassian enables enterprises to connect their business and technology teams with an AI-powered system of work that unlocks productivity at scale. Atlassian’s collaboration software powers over 85% of the Fortune 500 and 350,000+ customers worldwide - including NASA, Rivian, Deutsche Bank, United Airlines, and Bosch - who rely on our solutions to drive work forward.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, which statements involve substantial risks and uncertainties. In some cases, you can identify these statements by forward-looking words such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “aim,” “seek,” “could,” “would,” “intend,” “target,” “project,” “contemplate,” “believe,” “estimate,” “forecast”, “predict,” “potential” or “continue,” and similar expressions or variations, but these words are not the exclusive means for identifying such statements. All statements other than statements of historical fact could be deemed forward looking, including but not limited to risks and uncertainties related to statements about our platform, offerings and capabilities and planned offerings and capabilities, investments, System of Work, Teamwork Graph, AI solutions and innovation, customers, size and term of sales agreements, executive transitions, planned share purchases, partnerships, anticipated growth, outlook and results, and our financial targets such as total revenue, Cloud, Data Center, and Marketplace and other revenue, Subscription ARR, and GAAP and non-GAAP financial measures including gross margin and operating margin.

We undertake no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law.

The achievement or success of the matters covered by such forward-looking statements involves known and unknown risks, uncertainties and assumptions. If any such risks or uncertainties materialize or if any of the assumptions prove incorrect, our results could differ materially from the results expressed or implied by the forward-looking statements we make. 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. Further information on these and other factors that could affect our financial results is included in filings we make with the Securities and Exchange Commission (the “SEC”) from time to time, including the section titled “Risk Factors” in our most recently filed Forms 10-K and 10-Q, as well as those that may be updated in our future filings with the SEC. These documents are available on the SEC Filings section of the Investor Relations section of our website at https://investors.atlassian.com.

About Non-GAAP Financial Measures

In addition to the measures presented in our condensed consolidated financial statements, we regularly review other measures that are not presented in accordance with U.S. generally accepted accounting principles (“GAAP”), defined as non-GAAP financial measures by the SEC, to evaluate our business, measure our performance, identify trends, prepare financial forecasts and make strategic decisions. The key measures we consider are non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating income, non-GAAP operating margin, non-GAAP net income, non-GAAP net income per diluted share and free cash flow (collectively, the “Non-GAAP Financial Measures”). These Non-GAAP Financial Measures, which may be different from similarly titled non-GAAP measures used by other companies, provide supplemental information regarding our operating performance on a non-GAAP basis that excludes certain gains, losses and charges of a non-cash nature or that occur relatively infrequently and/or that management considers to be unrelated to our core operations. Management believes that tracking and presenting these Non-GAAP Financial Measures provides management, our board of directors, investors and the analyst community with the ability to better evaluate matters such as: our ongoing core operations, including comparisons between periods and against other companies in our industry; our ability to generate cash to service our debt and fund our operations; and the underlying business trends that are affecting our performance.

Our Non-GAAP Financial Measures include:

Subscription ARR. Subscription ARR is the annual recurring revenue from subscription agreements to our Cloud and Data Center offerings at a point in time. It reflects the annualized value of active subscriptions, including recurring revenue from upgrades and add-ons, but excludes one-time fees. For monthly subscriptions, ARR is calculated by multiplying monthly recurring revenue (MRR) by 12. ARR should be viewed independently of revenue and does not represent our revenue under GAAP, as it is an operational metric that can be affected by contract start and end dates, renewal rates, and the timing of invoices. Non-GAAP gross profit and non-GAAP gross margin. Excludes expenses related to stock-based compensation, amortization of acquired intangible assets, and restructuring charges. Non-GAAP operating income and non-GAAP operating margin. Excludes expenses related to stock-based compensation, amortization of acquired intangible assets, and restructuring charges. Non-GAAP net income and non-GAAP net income per diluted share. Excludes expenses related to stock-based compensation, amortization of acquired intangible assets, restructuring charges, and the related income tax effects of these items. Free cash flow. Free cash flow is defined as net cash provided by operating activities less capital expenditures, which consists of purchases of property and equipment. We understand that although these Non-GAAP Financial Measures are frequently used by investors and the analyst community in their evaluation of our financial performance, these measures have limitations as analytical tools, and you should not consider them in isolation or as substitutes for analysis of our results as reported under GAAP. We compensate for such limitations by reconciling these Non-GAAP Financial Measures to the most comparable GAAP financial measures. We encourage you to review the tables in this press release titled “Reconciliation of GAAP to Non-GAAP Results” and “Reconciliation of GAAP to Non-GAAP Financial Targets” that present such reconciliations.

Customers with >$10,000 in Cloud ARR

We define the number of customers with Cloud ARR greater than $10,000 at the end of any particular period as the number of organizations with unique domains with an active Cloud subscription for two or more seats and greater than $10,000 in Cloud ARR.

We define Cloud ARR as the annualized recurring revenue run-rate of Cloud subscription agreements at a point in time. We calculate Cloud ARR by taking the Cloud monthly recurring revenue (“Cloud MRR”) run-rate and multiplying it by 12. Cloud MRR for each month is calculated by aggregating monthly recurring revenue from committed contractual amounts at a point in time. Cloud ARR and Cloud MRR should be viewed independently of revenue and do not represent our revenue under GAAP, as they are operational metrics that can be affected by contract start and end dates and renewal rates.

Atlassian Corporation

Condensed Consolidated Statements of Operations

(U.S. $ and shares in thousands, except per share data)

(unaudited)

  Three Months Ended June 30,

Fiscal Year Ended June 30,

2026

2025

2026

2025

Revenues:

Subscription

$

1,681,151

$

1,312,532

$

6,262,194

$

4,930,604

Other

85,318

71,812

310,114

284,700

Total revenues

1,766,469

1,384,344

6,572,308

5,215,304

Cost of revenues (1) (2)

238,453

234,425

996,830

894,851

Gross profit

1,528,016

1,149,919

5,575,478

4,320,453

Operating expenses:

Research and development (1) (2)

759,820

700,678

3,269,257

2,669,312

Marketing and sales (1) (2)

389,288

314,416

1,541,178

1,134,535

General and administrative (1)

168,185

163,304

754,688

646,998

Total operating expenses

1,317,293

1,178,398

5,565,123

4,450,845

Operating income (loss)

210,723

(28,479

)

10,355

(130,392

)

Other expense, net

(8,896

)

(7,985

)

(8,565

)

(50,277

)

Interest income

9,246

30,407

69,710

112,324

Interest expense

(14,148

)

(8,137

)

(49,450

)

(30,550

)

Income (loss) before income taxes

196,925

(14,194

)

22,050

(98,895

)

Provision for income taxes

(57,849

)

(9,709

)

(75,878

)

(157,792

)

Net income (loss)

$

139,076

$

(23,903

)

$

(53,828

)

$

(256,687

)

Net income (loss) per share attributable to Class A and Class B common stockholders:

Basic

$

0.55

$

(0.09

)

$

(0.21

)

$

(0.98

)

Diluted

$

0.55

$

(0.09

)

$

(0.21

)

$

(0.98

)

Weighted-average shares used in computing net income (loss) per share attributable to Class A and Class B common stockholders:

Basic

252,805

262,884

260,163

261,787

Diluted

253,399

262,884

260,163

261,787

Three Months Ended June 30,

Fiscal Year Ended June 30,

2026

2025

2026

2025

Cost of revenues

$

14,068

$

20,792

$

71,817

$

83,017

Research and development

281,571

242,870

1,143,944

937,440

Marketing and sales

53,756

45,947

206,368

168,270

General and administrative

45,080

40,895

184,432

173,495

Three Months Ended June 30,

Fiscal Year Ended June 30,

2026

2025

2026

2025

Cost of revenues

$

24,513

$

10,131

$

78,906

$

40,508

Research and development

93

93

374

374

Marketing and sales

6,536

3,618

22,206

14,635

Atlassian Corporation

Condensed Consolidated Balance Sheets

(U.S. $ in thousands)

(unaudited)

  June 30, 2026

June 30, 2025

Assets

Current assets:

Cash and cash equivalents

$

1,239,512

$

2,512,874

Marketable securities

—

424,268

Accounts receivable, net

1,269,947

778,302

Prepaid expenses and other current assets

287,663

175,793

Total current assets

2,797,122

3,891,237

Non-current assets:

Property and equipment, net

86,302

105,118

Operating lease right-of-use assets

114,059

169,127

Strategic investments

213,147

221,942

Intangible assets, net

432,258

244,840

Goodwill

2,302,739

1,304,445

Deferred tax assets

4,088

3,762

Other non-current assets

153,814

101,499

Total assets

$

6,103,529

$

6,041,970

Liabilities and Stockholders’ Equity

Current liabilities:

Accounts payable

$

262,609

$

222,092

Accrued expenses and other current liabilities

764,579

681,601

Deferred revenue, current portion

2,495,431

2,227,002

Operating lease liabilities, current portion

48,509

50,164

Total current liabilities

3,571,128

3,180,859

Non-current liabilities:

Deferred revenue, net of current portion

166,260

254,252

Operating lease liabilities, net of current portion

194,841

201,483

Long-term debt

989,560

987,684

Deferred tax liabilities

27,853

23,881

Other non-current liabilities

95,445

48,157

Total liabilities

5,045,087

4,696,316

Stockholders’ equity

Common stock

3

3

Additional paid-in capital

7,180,851

5,574,290

Accumulated other comprehensive income (loss)

(17,034

)

13,226

Accumulated deficit

(6,105,378

)

(4,241,865

)

Total stockholders’ equity

1,058,442

1,345,654

Total liabilities and stockholders’ equity

$

6,103,529

$

6,041,970

Atlassian Corporation

Condensed Consolidated Statements of Cash Flows

(U.S. $ in thousands)

(unaudited)

  Three Months Ended June 30,

Fiscal Year Ended June 30,

2026

2025

2026

2025

Cash flows from operating activities:

Net income (loss)

$

139,076

$

(23,903

)

$

(53,828

)

$

(256,687

)

Adjustments to reconcile net income (loss) to net cash provided by operating activities:

Depreciation and amortization

39,430

23,221

140,668

92,375

Stock-based compensation

394,475

350,504

1,606,561

1,362,222

Impairment charges for leases and leasehold improvements

—

—

80,316

—

Deferred income taxes

14,490

5,233

(23,080

)

4,050

Amortization of interest rate swap contracts

—

(5,987

)

(7,163

)

(26,344

)

Net loss (gain) on strategic investments

251

(1,552

)

(22,029

)

22,994

Net foreign currency loss (gain)

(467

)

5,256

6,182

(2,494

)

Other

1,587

(291

)

1,507

(532

)

Changes in operating assets and liabilities, net of business combinations:

Accounts receivable, net

(362,696

)

(136,080

)

(484,465

)

(150,035

)

Prepaid expenses and other assets

(20,691

)

(19,418

)

(155,832

)

(85,385

)

Accounts payable

55,471

28,247

41,907

42,873

Accrued expenses and other liabilities

(31,855

)

37,184

69,077

90,988

Deferred revenue

250,070

112,901

153,314

366,368

Net cash provided by operating activities

479,141

375,315

1,353,135

1,460,393

Cash flows from investing activities:

Business combinations, net of cash acquired

—

(8,276

)

(1,228,875

)

(14,245

)

Purchases of property and equipment

(4,448

)

(14,997

)

(34,060

)

(44,850

)

Purchases of strategic investments

(2,000

)

(780

)

(9,250

)

(27,430

)

Purchases of marketable securities

—

(134,596

)

(67,259

)

(411,635

)

Proceeds from maturities of marketable securities

—

19,666

144,125

144,878

Proceeds from sales of marketable securities

—

3,895

352,093

5,893

Proceeds from sales of strategic investments

—

130

36,333

5,067

Net cash used in investing activities

(6,448

)

(134,958

)

(806,893

)

(342,322

)

Cash flows from financing activities:

Repurchases of Class A Common Stock

(359,294

)

(392,283

)

(1,800,485

)

(779,439

)

Other

—

—

—

(3,143

)

Net cash used in financing activities

(359,294

)

(392,283

)

(1,800,485

)

(782,582

)

Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash

(932

)

3,860

(10,233

)

151

Net increase (decrease) in cash, cash equivalents, and restricted cash

112,467

(148,066

)

(1,264,476

)

335,640

Cash, cash equivalents, and restricted cash at beginning of period

1,136,819

2,661,828

2,513,762

2,178,122

Cash, cash equivalents, and restricted cash at end of period

$

1,249,286

$

2,513,762

$

1,249,286

$

2,513,762

Atlassian Corporation

Revenues by Deployment Options

(U.S. $ in thousands)

(unaudited)

  Three Months Ended June 30,

Fiscal Year Ended June 30,

2026

2025

2026

2025

Cloud

$

1,213,456

$

927,730

$

4,410,627

$

3,447,427

Data Center

461,944

380,776

1,830,941

1,467,167

Marketplace and other (1)

91,069

75,838

330,740

300,710

Total revenues

$

1,766,469

$

1,384,344

$

6,572,308

$

5,215,304

  (1) Included in Marketplace and other is premier support revenue. Premier support consists of subscription-based arrangements for a higher level of support across different deployment options. Premier support is recognized as Subscription revenue on the consolidated statements of operations as the services are delivered over the term of the arrangement.

Atlassian Corporation

Reconciliation of GAAP to Non-GAAP Results

(U.S. $ and shares in thousands, except percentage and per share data)

(unaudited)

  Three Months Ended June 30,

Fiscal Year Ended June 30,

2026

2025

2026

2025

Gross profit

GAAP gross profit

$

1,528,016

$

1,149,919

$

5,575,478

$

4,320,453

Plus: Stock-based compensation

14,068

20,792

70,385

83,017

Plus: Amortization of acquired intangible assets

24,513

10,131

78,906

40,508

Plus: Restructuring charges (1)

—

—

52,620

—

Non-GAAP gross profit

$

1,566,597

$

1,180,842

$

5,777,389

$

4,443,978

Gross margin

GAAP gross margin

87

%

83

%

85

%

83

%

Plus: Stock-based compensation

1

2

1

2

Plus: Amortization of acquired intangible assets

1

—

1

—

Plus: Restructuring charges (1)

—

—

1

—

Non-GAAP gross margin

89

%

85

%

88

%

85

%

Operating income

GAAP operating income (loss)

$

210,723

$

(28,479

)

$

10,355

$

(130,392

)

Plus: Stock-based compensation

394,475

350,504

1,605,129

1,362,222

Plus: Amortization of acquired intangible assets

31,142

13,842

101,486

55,517

Plus: Restructuring charges (1)

—

—

279,509

—

Non-GAAP operating income

$

636,340

$

335,867

$

1,996,479

$

1,287,347

Operating margin

GAAP operating margin

12

%

(2

%)

—

%

(3

%)

Plus: Stock-based compensation

22

25

24

27

Plus: Amortization of acquired intangible assets

2

1

2

1

Plus: Restructuring charges (1)

—

—

4

—

Non-GAAP operating margin

36

%

24

%

30

%

25

%

Net income

GAAP net income (loss)

$

139,076

$

(23,903

)

$

(53,828

)

$

(256,687

)

Plus: Stock-based compensation

394,475

350,504

1,605,129

1,362,222

Plus: Amortization of acquired intangible assets

31,142

13,842

101,486

55,517

Plus: Restructuring charges (1)

—

—

279,509

—

Less: Income tax adjustments (2)

(91,561

)

(81,330

)

(406,084

)

(185,107

)

Non-GAAP net income

$

473,132

$

259,113

$

1,526,212

$

975,945

Net income per share

GAAP net income (loss) per share - diluted

$

0.55

$

(0.09

)

$

(0.21

)

$

(0.98

)

Plus: Stock-based compensation

1.56

1.32

6.16

5.15

Plus: Amortization of acquired intangible assets

0.12

0.05

0.39

0.20

Plus: Restructuring charges (1)

—

—

1.07

—

Less: Income tax adjustments (2)

(0.36

)

(0.30

)

(1.56

)

(0.69

)

Non-GAAP net income per share - diluted

$

1.87

$

0.98

$

5.85

$

3.68

Weighted-average diluted shares outstanding

Weighted-average shares used in computing diluted GAAP net income (loss) per share

253,399

262,884

260,163

261,787

Plus: Dilution from dilutive securities (3)

—

2,826

633

3,407

Weighted-average shares used in computing diluted non-GAAP net income per share

253,399

265,710

260,796

265,194

Free cash flow

GAAP net cash provided by operating activities

$

479,141

$

375,315

$

1,353,135

$

1,460,393

Less: Capital expenditures

(4,448

)

(14,997

)

(34,060

)

(44,850

)

Free cash flow

$

474,693

$

360,318

$

1,319,075

$

1,415,543

  (1) Restructuring charges include stock-based compensation expense related to the rebalancing of resources for the fiscal year ended June 30, 2026.

  (2) We utilize a fixed long-term projected non-GAAP tax rate in our computation of the non-GAAP income tax adjustments in order to provide better consistency across interim reporting periods. In projecting this long-term non-GAAP tax rate, we utilized a three-year financial projection that excludes the direct and indirect income tax effects of the other non-GAAP adjustments reflected above. Additionally, we considered our current operating structure and other factors such as our existing tax positions in various jurisdictions and key legislation in major jurisdictions where we operate. For fiscal years 2026 and 2025, we determined the projected non-GAAP tax rate to be 24% and 26%, respectively. This fixed long-term projected non-GAAP tax rate eliminates the effects of non-recurring and period specific items which can vary in size and frequency. Examples of the non-recurring and period specific items include but are not limited to changes in the valuation allowance related to deferred tax assets, effects resulting from acquisitions, and unusual or infrequently occurring items. We will periodically re-evaluate this long-term rate, as necessary, for significant events. The rate could be subject to change for a variety of reasons, for example, significant changes in the geographic earnings mix or fundamental tax law changes in major jurisdictions where we operate.

  (3) The effects of these dilutive securities were not included in the GAAP calculation of diluted net loss per share for the twelve months ended June 30, 2026 and three and twelve months ended June 30, 2025, respectively, because the effect would have been anti-dilutive.

Atlassian Corporation

Reconciliation of GAAP to Non-GAAP Financial Targets

  Three Months Ending

September 30, 2026

GAAP gross margin

85.0

%

Plus: Stock-based compensation

0.7

Plus: Amortization of acquired intangible assets

1.3

Non-GAAP gross margin

87.0

%

GAAP operating margin

6.5

%

Plus: Stock-based compensation

20.3

Plus: Amortization of acquired intangible assets

1.7

Non-GAAP operating margin

28.5

%

Fiscal Year Ending

June 30, 2027

GAAP gross margin

84.5

%

Plus: Stock-based compensation

0.7

Plus: Amortization of acquired intangible assets

1.3

Non-GAAP gross margin

86.5

%

GAAP operating margin

4.5

%

Plus: Stock-based compensation

19.0

Plus: Amortization of acquired intangible assets

1.5

Non-GAAP operating margin

25.0

%

Collaboration software maker Atlassian beat Wall Street expectations for fourth-quarter revenue on ​Thursday, riding on strong demand for ‌its enterprise software services and cloud-based products.

Atlassian (TEAM - Free Report) came out with quarterly earnings of $1.87 per share, beating the Zacks Consensus Estimate of $1.48 per share. This compares to earnings of $0.98 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +26.35%. A quarter ago, it was expected that this company would post earnings of $1.31 per share when it actually produced earnings of $1.75, delivering a surprise of +33.59%.

Over the last four quarters, the company has surpassed consensus EPS estimates four times.

Atlassian, which belongs to the Zacks Internet - Software industry, posted revenues of $1.77 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 6.52%. This compares to year-ago revenues of $1.38 billion. The company has topped consensus revenue estimates four times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Atlassian shares have lost about 30.1% since the beginning of the year versus the S&P 500's gain of 12.8%.

What's Next for Atlassian?While Atlassian has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Atlassian was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.25 on $1.65 billion in revenues for the coming quarter and $5.87 on $7.23 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Internet - Software is currently in the top 44% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Another stock from the same industry, PagerDuty (PD - Free Report) , has yet to report results for the quarter ended July 2026.

This software developer is expected to post quarterly earnings of $0.30 per share in its upcoming report, which represents no change from the year-ago quarter. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

PagerDuty's revenues are expected to be $122.91 million, down 0.4% from the year-ago quarter.

August 06, 2026 19:10 ET  | Source: Team, Inc.

SUGAR LAND, Texas, Aug. 06, 2026 (GLOBE NEWSWIRE) -- Team, Inc. (NYSE: TISI) (“TEAM” or the “Company”), a global, leading provider of specialty industrial services offering customers access to a full suite of conventional, specialized, and proprietary inspection, heat-treating, and mechanical services, today announced that it will issue its second quarter 2026 earnings release on Monday, August 10, 2026, after the close of trading on the New York Stock Exchange. TEAM will host a conference call to discuss its financial and operational results on Tuesday morning, August 11, 2026, at 8:00 a.m. Central Time (9:00 a.m. Eastern Time).

Interested parties can access the live webcast of the conference call at www.teaminc.com in the Investor Relations section of the website. Participants can also listen to the conference call by dialing (877) 270-2148 (domestic) or (412) 902-6510 (international). Participants should ask to join “TEAM, Inc. Second Quarter 2026 Conference Call.” An audio replay will be available on the Company’s website following the call.

The call will include a question-and-answer session, and investors are welcome to send questions to [email protected] ahead of the scheduled call.

About Team, Inc.
Headquartered in Sugar Land, Texas, Team, Inc. (NYSE: TISI) is a global, leading provider of specialty industrial services offering customers access to a full suite of conventional, specialized, and proprietary inspection, heat-treating, and mechanical services. We deploy conventional to highly specialized inspection, condition assessment, maintenance, and repair services that result in greater safety, reliability, and operational efficiency for our customers’ most critical assets. Through locations in 13 countries, we unite the delivery of technological innovation with over a century of progressive, yet proven integrity and reliability management expertise to fuel a better tomorrow. For more information, please visit www.teaminc.com.

Contact:
Alpha IR Group
Nick Teves or Joseph Caminiti
[email protected]