Factual Summary
In its FY2026 fourth-quarter (fiscal period ended 2026-06-30) results announced after market close on 2026-08-06, Atlassian reported revenue of $1,766 million (+28% YoY, above consensus) and cloud revenue of $1,213 million (+31% YoY). Non-GAAP EPS was $1.87, above the consensus of $1.50, and GAAP net income turned positive at $139 million. Full-year FY2026 revenue was $6,572 million (+26% YoY).
Price-Change Context Note
On 2026-08-06/07, CEO Mike Cannon-Brookes announced a personal stock purchase plan of up to $250 million under a Rule 10b5-1 pre-arranged plan (primary disclosure text not obtained). In the options market on 2026-08-07, call option volume surged to roughly 125%-10x the average and the put/call ratio was approximately 0.85, observed alongside bullish-leaning positioning.
Business Overview
Founded in 2002 in Sydney, Australia, Atlassian is an enterprise collaboration and software-development-tools SaaS company that completed its re-domiciliation from a UK entity to a US Delaware entity in 2022. Its core products are Jira, Confluence, Trello, Bitbucket, and Jira Service Management, along with Loom (acquired in 2023) and the generative AI assistant Rovo (Atlassian official website, C). Revenue is generated through subscription billing across three deployment types — Cloud, Data Center, and Server — with Cloud revenue at the center of growth.
Q4 FY2026 (ended 2026-06-30) revenue mix · Source: 8-K (2026-08-06, company primary disclosure) (A)
5-Year Financial Trend
| Fiscal Year | Revenue Growth (YoY) | Operating Margin | Net Margin |
|---|---|---|---|
| FY2022 | +34.16% | 2.5% | -18.5% |
| FY2023 | +26.11% | -9.8% | -13.8% |
| FY2024 | +23.31% | -2.7% | -6.9% |
| FY2025 | +19.66% | -2.5% | -4.9% |
| FY2026 | +26% | Not available (Q4 alone: 12%) | -0.82% |
FY2021-FY2025 figures are confirmed system-of-record data (10-K/20-F, A); FY2026 is from direct research on the 8-K (2026-08-06, A) — all fiscal year-ends are 6/30. Over the five years the company posted continuous GAAP losses, but the loss margin narrowed each year, reaching -0.82% in FY2026.
Competitive Landscape and Revenue Scale Comparison
Atlassian does not compete with a single rival but faces different competitors by product line — Microsoft and ServiceNow in ITSM, Asana and monday.com in work management, GitLab and Microsoft (GitHub) in developer workflows, and Slack, Microsoft 365, and Google Docs in collaboration and documents (C).
Atlassian's revenue scale is roughly 5-9x larger than monday.com and Asana, and its FY2026 revenue growth (+26% YoY) generally exceeded both companies' (+27% and +11%, respectively) (C). The latest revenue figures for ServiceNow, GitLab, and Microsoft's individual segments (GitHub, Teams) were not obtained.
Valuation (Factual Multiples)
PER (TTM) is not calculable due to a GAAP net loss (N/A), while Forward PE is 27.43x (based on FY2027 earnings estimates, C). Some sources compiled EV/EBITDA at 124.94x before the earnings release (pre-surge), but that figure reflects a lower market-cap base — the figure above, reflecting the 2026-08-07 closing price, is the definitive one.
Supply-Demand Trends
As a US-listed stock, TEAM does not have Korean-style daily investor-type flow data available; the figures below substitute FINRA short-interest, 13F institutional holdings, and options-trading trends (includes multiple secondary sources).
Short interest peaked at 12.4% of float (~19.89 million shares) as of the 2026-05-15 settlement date, then eased somewhat through the 2026-07-15 settlement. The settlement period covering the 2026-08-07 surge day (settling 7/31 or 8/15) has not yet been reported, so whether short covering occurred remains undetermined. The put/call ratio on the same day was approximately 0.85 (C).
Major institutional holders include Vanguard Group (~18.54M shares, 7.31%), GQG Partners (13,433,382 shares, 8.42%, 13G filing as of 2026-05-11), BlackRock, Baillie Gifford, State Street, and others (C).
Governance and Capital Structure
Atlassian has a dual-class share structure — Class A shares (listed on Nasdaq, one vote per share) and Class B shares (unlisted, ten votes per share) (DEF 14A dated 2025-10-15; 10-Q cover page dated 2026-05-01, A).
Share of total voting power, as of 2025-09-30 (DEF 14A, 2025-10-15, A) · The two co-founders each hold half of the Class B (10-vote) shares, giving the combined director/officer group control of 85.21% of total voting power.
| Date | Event |
|---|---|
| 2024-08 | Scott Farquhar steps down as Co-CEO (Cannon-Brookes becomes sole CEO) |
| 2026-01-01 | Directors Sasan Goodarzi and Richard P. Wong resign |
| 2026-02-01 | Anil Sabharwal (Google VP of Product) appointed as new director |
| 2026-03-30 | James Chuong (former LinkedIn CFO) becomes new CFO |
| 2026-03-31 | CTO Rajeev Rajan departs; transition to co-CTO structure |
Executive Form 4 filings reported in the first half of 2026 were all share dispositions (Code S), and both co-founders terminated their respective 10b5-1 trading plans early on 2026-02-06, about four months ahead of the scheduled 2026-06-06 expiration (10-Q, 2026-05-01, A). Primary disclosure text (Form 4/8-K) for the CEO's new personal stock purchase plan (up to $250 million) announced 2026-08-06/07 has not been obtained.
Macro Environment
| Factor | Value (as of) | Trend |
|---|---|---|
| US Policy Rate | Upper 3.75% / Lower 3.50% (2026-07-29 FOMC) | Held for 5 consecutive meetings |
| US 10-Year Treasury Yield | 4.65% (2026-08-07) | Rose to 4.74% in early August before easing slightly |
| US Dollar Index (DXY) | 99.48 (2026-08-07) | -1.50% over the past month |
| Global Software Spending (Gartner) | $1.44T in 2026 (+15.1% YoY, announced 2026-07-27) | Revised upward repeatedly during the year |
Gartner revised its 2026 global IT spending forecast upward multiple times during the year (from +10.8% in February to +14.2% in July), a direction consistent with Atlassian's FY2026 Q4 subscription ARR (+23% YoY) and RPO (+44% YoY) results (C). Dollar weakness (DXY down 1.50% over the past month) could be a favorable translation factor for companies with overseas revenue, but Atlassian's exact regional revenue mix was not obtained due to inconsistent figures across sources.
Recent Developments (News Timeline)
| Date | Content |
|---|---|
| 2026-02-05 | FY2026 Q2 earnings released — cloud revenue surpassed $1 billion in a single quarter for the first time; after-hours shares fell 6.31% |
| 2026-04-30 | FY2026 Q3 earnings released (revenue $1.8B, +32% YoY) — shares fell despite beating consensus, as the CFO noted a moderation in seat-expansion pace |
| 2026-07-13 | Named a Leader in Gartner's inaugural Developer Productivity Insight Platforms Magic Quadrant; shares rose 7.2% in response (C) |
| 2026-07-21~22 | Sector-wide downward pressure on concerns that AI coding tools could displace the seat-based pricing model; shares fell 6.5% in a single day |
| 2026-08-06 | FY2026 Q4 and full-year earnings released (see summary above) |
| 2026-08-07 | Shares rose +35.31% in reaction to earnings |
Sources: primary sources such as Businesswire and SEC EDGAR 8-K filings, mixed with secondary sources such as Tickeron and Investing.com
Risk Factors
- Industry concerns (C) that AI coding agents could structurally displace seat-based SaaS pricing models have been raised since early 2026, with sector-wide downward pressure on 2026-07-21~22 causing a single-day 6.5% share decline.
- Competition continues across all categories — ITSM, work management, and developer workflows — from Microsoft, ServiceNow, GitLab, Asana, monday.com, and others (C).
- A global workforce reduction of 10% (1,600 employees) announced on 2026-03-11 was completed by June 2026, including more than 900 R&D positions (C).
- Customer transitions from Data Center to Cloud are projects that take 18-24 months. In its 2026-08-06 announcement, the company noted that FY2027 Data Center revenue is expected to decline approximately -17% year-over-year (reflecting the runoff of prior prepayments and completed transitions) (C).
- At the 2026-08-07 closing price, PSR stands at 5.76x and EV/EBITDA at 250.44x, reflecting a substantial revenue-growth premium (C).
- The 10-K identifies foreign-exchange fluctuations as a factor that could adversely affect financial results (overseas revenue is a substantial share, though the exact regional breakdown was not obtained) (C).
Theme Relevance
Fact Highlights
Generated by FomoLog Agent · Data sources: Korea Exchange · NASDAQ · DART · SEC EDGAR
This is not investment advice. FomoLog provides factual summaries and post-hoc price-change context only. Investment decisions and their outcomes are solely the responsibility of the investor.