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Jun 30, 2025
Atlassian Q4 2025 Earnings Report
Atlassian reported strong financial results for its fourth quarter and fiscal year ended June 30, 2025, with significant revenue growth and improved non-GAAP profitability.
Key Takeaways
Atlassian closed out fiscal year 2025 with over $5.2 billion in revenue and $1.4 billion in free cash flow, driven by strong cloud revenue growth. The company reported a 22% year-over-year increase in total revenue for Q4, reaching $1.384 billion, and a non-GAAP operating margin of 24%.
Total revenue for Q4 FY25 reached $1.384 billion, marking a 22% increase year-over-year.
Subscription revenue for Q4 FY25 was $1.313 billion, up 23% compared to the previous year.
Non-GAAP operating margin for Q4 FY25 improved to 24%, while GAAP operating margin was (2)%.
The company generated $360 million in free cash flow during Q4 FY25.
Revenue by Segment
Forward Guidance
Atlassian provided financial targets for the first quarter of fiscal year 2026 and the full fiscal year 2026, indicating continued growth in non-GAAP gross and operating margins.
Positive Outlook
- Projected non-GAAP gross margin for Q1 FY26 is 84.5%.
- Projected non-GAAP operating margin for Q1 FY26 is 20.5%.
- Projected non-GAAP gross margin for FY26 is 85.5%.
- Projected non-GAAP operating margin for FY26 is 24.0%.
- Continued focus on strategic priorities including Enterprise Cloud and AI.
Challenges Ahead
- GAAP gross margin for Q1 FY26 is projected at 82.5%.
- GAAP operating margin for Q1 FY26 is projected at (5.5)%.
- GAAP gross margin for FY26 is projected at 83.5%.
- GAAP operating margin for FY26 is projected at (2.5)%.
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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