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- **Revenue Milestones**: $6B ARR, $1B cloud revenue (26% YoY), RPO $3.8B (44% YoY). 
- **AI Impact**: 5M Rovo MAU, 1M Teamwork Collection seats in 9 months. AI boosts Jira usage by 5% among developers. 
- **Financial Confidence**: 20%+ CAGR, 25%+ margin target. 
- **Migration Growth**: Mid-single-digit cloud contributions. 
- **Service Collection**: 65k customers, 60% YoY growth. 
- **Competitive Edge**: Anthropic partnership, 50% Fortune 500 in Service Collection. 
- **JSM Expansion**: 60% YoY growth, 40% Agentic workflows. 
- **DC Transition**: 20%+ cloud growth offsets DC decline. 
- **Risks**: Market noise, 40% stock decline despite strong Q2. 
- **Long-term Outlook**: AI-driven workflows, enterprise trust in security/compliance.

**【CEO Summary Section】**
- Surpassed $6 billion ARR, $1 billion cloud revenue (26% YoY growth), RPO of $3.8 billion (44% YoY growth). AI adoption via Teamwork Collection reached 1 million seats in 9 months. AI-driven workflows boost Jira usage by 5% among developers using AI tools. Emphasizes long-term AI investment and enterprise partnerships.

**【CFO Financial Commentary】**
- Confident in 20%+ CAGR through FY27, 25%+ non-GAAP margin target. Cloud migrations contribute mid-single-digit growth, with 65,000 Service Collection customers (50% Fortune 500). Gross margin improving with AI cost management.

**【Q&A Highlights】**
- **Customer Conversations**: AI adoption drives expansion, 5M Rovo MAU, 120%+ NRR. Pricing preference for seat-based models, 1M Teamwork Collection seats in 9 months. Anthropic partnership enhances AI integration. DC decline offset by cloud growth. Service Collection growth in HR/finance. Jira Service Management (JSM) 60% YoY growth, 65k customers. 40% Agentic workflows in Service Collection. 2/3 Service Collection for non-IT use cases. 20%+ CAGR, 25% margin target.


Atlassian Corporation (TEAM) Q2 2026 Earnings Call Transcript

- **Revenue Growth**: 21% YoY total revenue, 26% YoY cloud growth, and 42% YoY RPO driven by AI adoption.
- **AI Impact**: 3.5M monthly AI users, 50% QoQ growth, and 5% faster Jira seat expansion for AI-using customers.
- **Cloud Migration**: FY26 cloud revenue guidance raised to 22.5% YoY, with 0.5% organic growth adjustment due to migration timing.
- **Strategic Moves**: Data center end-of-life in 2029, browser company acquisition for AI-integrated browser, and consumption pricing pilots.
- **Financial Health**: Non-GAAP EPS exceeded expectations, with strong cost control and 120% net expansion rate.


**【CEO Opening Remarks】**
- Q1 FY26 revenue reached $1.4B, up 21% YoY, with cloud revenue at $998M (+26% YoY) and RPO at $3.3B (+42% YoY).
- AI adoption surged, with 3.5M monthly active AI users across the platform, up 50% QoQ.
- Teamwork collection adoption drove double-digit user growth and upgrades, consolidating competitive tools.
- Customers like Databricks, Expedia, Ford, and Wells Fargo are migrating to Atlassian's AI-powered cloud platform.

**【Q&A Highlights】**
- **Cloud Migration & Data Center End-of-Life**: CFO Joe Binz noted Q1 cloud migrations exceeded expectations, adjusting FY26 organic growth by 0.5% due to revenue timing shifts. CEO Mike emphasized cloud is the future, with data center end-of-life set for March 2029.
- **AI & Monetization**: 300K customers using AI tools saw 5% faster Jira seat expansion. AI interactions tripled QoQ, with Rovo Dev processing millions of tokens.
- **Partnerships & Go-to-Market**: Ascend program accelerates enterprise adoption, with 50% of revenue via channel. New CRO Brian Duffy is enhancing go-to-market strategies.
- **M&A Strategy**: Browser company acquisition aims to create a knowledge worker browser with AI integration. Consumption pricing models (e.g., AI credits) are being tested for monetization.
- **Financial Outlook**: Cloud revenue guidance raised to 22.5% YoY, driven by migrations. Non-GAAP EPS exceeded expectations, with strong cost control.


Atlassian Corporation (TEAM) Q1 2026 Earnings Call Transcript

- **Revenue & Cash Flow**: FY25 $5.2B revenue, $1.4B free cash flow; FY26 targets 24% operating margin.
- **AI Momentum**: 2.3M AI users (50% QoQ growth), 120% cloud retention, and strong Teamwork Collection adoption.
- **Enterprise Expansion**: 60% YoY Data Center to Cloud migrations, Google Cloud partnership, and 2x YoY large deal growth.
- **Financial Discipline**: Maintaining Rule of 40+; FY27 >25% margin target reaffirmed.

**【CEO Opening Remarks】**
- FY25 revenue reached $5.2B, with $1.4B in free cash flow, maintaining Rule of 40+ performance.
- Q4 highlights: 2x YoY increase in deals >$1M ACV, 50% quarter-on-quarter growth in AI adoption (2.3M users), and strong momentum in the Teamwork Collection.
- Strategic focus on enterprise AI, system of work, and multi-cloud partnerships (e.g., Google Cloud).
- Cloud net revenue retention rate of 120%, with 50% of core app users being business users.

**【CFO Financial Commentary】**
- FY25 GAAP net income: $420M; Non-GAAP EPS: $1.08 (exceeded expectations).
- Free cash flow: $1.5B (flat YoY due to server/support dynamics).
- FY26 guidance: 24% non-GAAP operating margin, with 500bps difference expected between margin and free cash flow margin.
- RPO balance: $3.3B (38% YoY growth), with 74% to be recognized in next 12 months.

**【Q&A Highlights】**
- **AI Impact**: No negative impact on developer tool usage; AI-driven collaboration (e.g., Confluence users create 15% more pages with AI).
- **Free Cash Flow**: FY26 expects modest compression due to multiyear agreement transitions and enterprise cloud growth timing.
- **Enterprise Growth**: 60% YoY increase in Data Center to Cloud migrations; Teamwork Collection exceeding expectations.
- **Migration Contribution**: FY25 mid- to high single-digit contribution; FY26 guidance assumes mid-single-digit due to complex Data Center migrations.
- **Operating Margin**: FY27 target of >25% remains unchanged; disciplined investment in AI, sales, and R&D.


Atlassian Corporation (TEAM) Q4 2025 Earnings Call Transcript

- **Cloud Growth Accelerates**: 25% YoY cloud revenue growth, driven by AI adoption and enterprise expansion.
- **AI Adoption Soars**: 1.5M+ monthly active Rovo users, with rapid growth as AI is embedded into core products.
- **Financial Strength**: Non-GAAP EPS beats expectations, with 86% cloud gross margin and strong cost control.
- **Long-Term Vision**: Despite short-term contract delays, confident in 20%+ CAGR through AI innovation and cloud migration.

**【CEO Summary Section】**
- Total revenue reached $1.4 billion, with cloud revenue growing 25% year-over-year.
- Over 1.5 million monthly active users of Rovo AI, with rapid week-on-week growth.
- Launched Atlassian Government Cloud and Isolated Cloud for enterprise customers with sensitive data.
- Embedded Rovo AI into all premium enterprise subscriptions, accelerating AI adoption.

**【CFO Financial Commentary】**
- GAAP net income of $420 million and Non-GAAP EPS of $1.08, exceeding expectations.
- Cloud gross margin improved to 86%, driven by price increases and cost optimization.
- Data center revenue growth offset by shorter-duration contracts, but long-term cloud migration trends remain strong.

**【Q&A Key Takeaways】**
- Enterprise deal delays impacted Q3 cloud revenue, but 25% growth still achieved.
- Transition to annual data center contracts caused short-term revenue headwinds but supports long-term cloud growth.
- Rovo AI costs are manageable, with gross margin improvements expected.
- Maintain 20%+ CAGR target despite macroeconomic uncertainties, driven by AI and cloud strategies.

Atlassian (TEAM)-1 May 25-2025 Q3 Earnings call transcript

- **$5B+ Run Rate & 30% Cloud Growth**: Q2 marks a milestone with subscription revenue surging 30% YoY, fueled by enterprise AI adoption.
- **AI Adoption Surge**: 1M+ monthly users of Atlassian Intelligence, AI interactions up 25x YoY, and 38M AI-edited videos in FY24.
- **Enterprise Wins**: Record $1M+ ACV deals, with 500+ customers >$1M ARR and 500+ enterprise-focused sales reps.
- **Profitability**: 85% cloud gross margin, 23.5% non-GAAP operating margin, and FY25 guidance for >25% by FY27.
- **Rovo Momentum**: 1M+ MAU in Atlassian Intelligence, with AutoDev saving developers hours via automation.
- **Data Center Transition**: 7% YoY growth in data center, hybrid ELAs driving multiyear deals, and 85%+ cloud revenue mix.


**【CEO Opening Remarks】**
- Q2 FY25 revenue surpasses $5B annual run rate, with subscription growth at 30% YoY, driven by enterprise expansion and AI adoption.
- Key strategic priorities: enterprise customer engagement, AI innovation (e.g., Rovo), and breaking knowledge silos.
- 1M+ monthly active users leverage Atlassian Intelligence, with AI interactions up 25x YoY.
- Premium/Enterprise SKU sales grow 40% YoY, reflecting higher-value product adoption.
- Notable wins include record $1M+ ACV deals with global enterprises like Cisco, DHL, and Reddit.

**【CFO Financial Highlights】**
- Q2 GAAP net income: $420M; Non-GAAP EPS: $1.08 (exceeds expectations).
- Cloud revenue growth: 30% YoY, with 85% gross margin (up 100bps YoY).
- Data center revenue: 7% YoY growth, stable macro environment, and strong hybrid ELA signings.
- Operating expenses controlled, with 5% YoY decline in GAAP basis.
- FY25 non-GAAP operating margin guidance: ~23.5%, targeting >25% by FY27.

**【Q&A Key Themes】**
1. **Enterprise Penetration & Go-to-Market**
   - 10% of revenue from largest 1,000 enterprises, with 500+ customers >$1M ARR.
   - 500+ sales reps focused on enterprise, driving 30%+ deal size growth.
   - Jira Work Management + Software combo enables cross-functional team expansion.

2. **AI & Rovo Product Momentum**
   - Rovo adoption exceeds early expectations, with 1M+ MAU in Atlassian Intelligence.
   - AutoDev saves developers hours via automation, with 38M AI-edited videos in FY24.
   - Multi-model strategy (30+ models from 7 vendors) ensures flexibility in AI innovation.

3. **Financial Outlook & Risks**
   - H2 FY25 guided for cautious growth, factoring macro uncertainty and go-to-market execution.
   - 7% YoY data center growth (Q3) driven by pricing, seat expansion, and cloud migration.
   - Cloud COGS optimization (85% gross margin) offsets mix shift to lower-margin cloud.

4. **Loom Integration & Growth**
   - Loom revenue in line with expectations, contributing ~1.5pts to FY25 cloud growth.
   - AI features in Loom (e.g., video summarization) drive 38M+ AI-edited videos YoY.
   - Standalone SKU strategy maintains flexibility for enterprise integration.

5. **Seat Expansion & AI Impact**
   - Paid seat expansion rate stable in SMB, with enterprise seats growing via cross-sell.
   - No evidence of AI cannibalizing seats; efficiency gains drive higher task completion.
   - Consumption-based pricing (e.g., Rovo agents) tested, but no material impact yet.


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