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Sep 30, 2025
Atlassian Q1 2026 Earnings Report
Atlassian reported its financial results for the first quarter ended September 30, 2025, with strong revenue growth and significant cloud expansion.
Key Takeaways
Atlassian delivered a solid start to fiscal year 2026, with total revenue exceeding $1.4 billion, driven by robust Cloud revenue growth of 26% year-over-year. The company also saw strong adoption of its AI capabilities and maintained a healthy non-GAAP operating margin.
Total revenue reached $1,432,553,000, marking a 21% increase year-over-year.
Cloud revenue grew to $997,708,000, up 26% compared to the previous year.
Non-GAAP operating margin stood at 23%, indicating efficient operations.
Free cash flow was $114,603,000, demonstrating strong cash generation.
Revenue by Segment
Forward Guidance
Atlassian provided financial targets for the second quarter of fiscal year 2026 and the full fiscal year 2026, reflecting continued growth expectations and the impact of recent business developments.
Positive Outlook
- Non-GAAP gross margin for Q2 FY26 is projected at 87.0%.
- Non-GAAP operating margin for Q2 FY26 is projected at 24.5%.
- Full fiscal year 2026 non-GAAP gross margin is projected at 86.5%.
- Full fiscal year 2026 non-GAAP operating margin is projected at 25.5%.
- The company anticipates continued strong performance in its cloud offerings.
Challenges Ahead
- GAAP gross margin for Q2 FY26 is projected at 85.0%.
- GAAP operating margin for Q2 FY26 is projected at (5.0)%.
- Full fiscal year 2026 GAAP gross margin is projected at 84.0%.
- Full fiscal year 2026 GAAP operating margin is projected at (2.0)%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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