Atlassian Q2 2025 Earnings Report
Key Takeaways
Atlassian reported a total revenue of $1,286.5 million, a 21% increase year-over-year, with subscription revenue growing by 30%. The company's GAAP operating margin was (4)%, while the non-GAAP operating margin was 26%. Atlassian ended the quarter with $2.5 billion in cash and cash equivalents plus marketable securities.
Total revenue reached $1,286.5 million, up 21% year-over-year.
Subscription revenue grew to $1,213 million, a 30% increase year-over-year.
GAAP operating margin was (4)%, and non-GAAP operating margin was 26%.
Ended the quarter with 49,449 customers with greater than $10,000 in Cloud ARR, a 15% year-over-year increase.
Atlassian
Atlassian
Atlassian Revenue by Segment
Forward Guidance
Atlassian is providing financial targets for the third quarter of fiscal year 2025 and fiscal year 2025.
Positive Outlook
- Total revenue is expected to be in the range of $1,345 million to $1,353 million for Q3 2025.
- Cloud revenue growth year-over-year is expected to be approximately 23.5% for Q3 2025.
- Data Center revenue growth year-over-year is expected to be approximately 7.0% for Q3 2025.
- Marketplace and other revenue growth year-over-year is expected to be approximately flat for Q3 2025.
- Total revenue growth year-over-year is expected to be in the range of 18.5% to 19.0% for fiscal year 2025.
Challenges Ahead
- Operating margin is expected to be approximately (3.0%) on a GAAP basis for Q3 2025.
- Operating margin is expected to be approximately 23.5% on a non-GAAP basis for Q3 2025.
- Cloud revenue growth year-over-year is expected to be approximately 26.5% for fiscal year 2025.
- Data Center revenue growth year-over-year is expected to be approximately 21.5% for fiscal year 2025.
- Marketplace and other revenue growth year-over-year is expected to be approximately 8.5% for fiscal year 2025.
Revenue & Expenses
Visualization of income flow from segment revenue to net income