Atlassian stock skyrockets more than 30% as cloud growth roars back
Shares in Atlassian Corp. surged more than 30% in after-hours trading today after the Australian collaboration software company beat expectations on earnings and revenue in its fiscal 2026 fourth quarter and guided above forecasts for the year ahead.
For the quarter that ended June 30, Atlassian reported adjusted earnings per share of $1.87, up from 98 cents in the same quarter of the previous fiscal year, on revenue of $1.766 billion, up 28% year-over-year. Analysts were expecting $1.50 per share on revenue of $1.66 billion.
Cloud revenue was the standout at $1.213 billion, up 31%. That marks an acceleration for a business whose growth had been decelerating through fiscal 2026, to the point that Atlassian was guiding to 23% cloud growth as recently as February. Data Center revenue rose 21% to $461.9 million.
Subscription annual recurring revenue stood at $6.606 billion at the end of June, up 23%. Remaining performance obligations, a measure of contracted revenue not yet recognized, jumped 44% to $4.817 billion. Chief Financial Officer James Chuong said enterprises are deepening their commitment to Atlassian’s platform, and the company pointed to a record quarter for deals worth $1 million or more in annual contract value.
