Atlassian Corp (TEAM) · Nov 5, 2026 · Earnings

Atlassian earnings beat as AI-led growth lifts FY27 margin outlook

Beat — Non-GAAP EPS $1.65 vs ~$1.39 consensus; revenue $1.772B vs ~$1.71B

Atlassian earnings beat on revenue and adjusted EPS, with cloud growth, AI adoption and fiscal-year operating-margin guidance all moving the story forward.

Atlassian is in the middle of a cloud-and-AI expansion: the business is shifting customers from Data Center toward Cloud while positioning its Teamwork Graph, Rovo and agent tools as enterprise infrastructure for AI workflows. Its prior fiscal-year outlook called for roughly 13% revenue growth, 25.0% non-GAAP operating margin and 25.5% Cloud growth, while the company entered this quarter with strong RPO and cloud momentum already established.

The quarter beat the market’s financial bar by a meaningful margin. Revenue reached $1.772 billion versus published expectations of roughly $1.71 billion, while non-GAAP diluted EPS was $1.65 versus approximately $1.39 consensus. That is not just a profitability beat: subscription revenue grew about 24% year over year, Cloud revenue grew about 31%, and the filing says, "Subscription ARR grew 23% year-over-year and Cloud revenue grew 31% year-over-year" 〔0〕.

	Q1 FY27	Q1 FY26	Consensus / prior guide
Total revenue (Income Statement)	$1.772B (+23.7%)	$1.433B	~$1.71B
Non-GAAP diluted EPS (Reconciliation)	$1.65	$1.04	~$1.39
Cloud revenue (Segment results)	$1.302B (+30.5%)	$997.7M	—
GAAP operating margin (Financial Highlights)	11%	(7%)	—
Non-GAAP operating margin (Financial Targets)	32%	23%	—
Free cash flow (Cash Flow statement)	$462.6M (+303.6%)	$114.6M	—
FY27 non-GAAP operating margin guide (Financial Targets)	25.5%	—	25.0% prior guide

The most important change is that growth is converting into operating leverage. GAAP operating income swung to $189 million from a $96 million loss, and free cash flow reached $463 million; the filing explicitly reports, "Operating income was $189 million for the first quarter of fiscal year 2027, compared with operating loss of $96 million for the first quarter of fiscal year 2026". The result is especially constructive because Atlassian’s prior outlook already anticipated a more profitable fiscal 2027; the company modestly raised the full-year non-GAAP operating-margin target to 25.5% from 25.0%, rather than merely repeating it.

The AI narrative has more operating evidence than before, but remains partly usage-led rather than separately monetized. RPO rose 44%, Teamwork Collection customers increased sevenfold year over year, and Service Collection passed $1 billion of ARR with more than 70,000 customers. The filing says, "Service Collection has over $1billion in ARR that is growing north of 30% year-over-year and has expanded to more than 70,000 customers". Those metrics strengthen the case that AI is helping broaden the platform, especially in enterprise service management, even though the filing does not isolate AI revenue.

The chief accounting officer transition looks orderly, not like a financial-control warning. Gene Liu is leaving after more than 12 years, and the filing specifically says his decision was not due to disagreement over accounting practices, financial reporting or internal controls. Eli Berkovitch, Atlassian’s incoming CAO, arrives from Box after serving as its CAO; the $4.5 million initial RSU grant is a real compensation cost, but it does not alter the quarter’s central business signal. 〔1〕

Bottom line: This is a clear earnings beat with improving profitability, strong Cloud execution and a small upward revision to the full-year margin framework. The CAO change is worth noting but does not complicate the core story: Atlassian is showing that its AI-and-cloud expansion is translating into better-than-expected financial performance, not just product announcements.

What to watch next

Q2 FY27 results, expected early February 2027

Original filing on SEC EDGAR

More Atlassian Corp news

Strong Q4 execution, but FY27 growth resets sharply lower

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AllSight · BlackBerry Q2 FY27

Revenue $163.3M vs ~$144M expected; adjusted basic EPS $0.07 vs ~$0.04 consensus — a real upside surprise.Income statement
QNX revenue +27% to $80.3M; segment EBITDA $29.0M from $20.5M. “Record performance… core automotive.”Segment — QNX
Licensing jumped to $22.1M from $6.6M — it amplified the beat, but it's less recurring than QNX, so the quality sits in QNX.Segment — Licensing
FY27 guide lifted to $616–636M rev / $141–158M EBITDA, above the prior $594–621M / $119–139M framework.Guidance
QNX growth, margins, cash and a raised outlook all beat. But licensing amplified it and Secure Comms is flat — net retention 91% from 93%.Segment — Secure Comms

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Events/ANDE/8-K · Earnings

8-K · Item 2.02 · Earnings

The Andersons — a record Renewables quarter that beat profit expectations

Filed Aug 3, 2026ANDE · NASDAQ

AllSight readBeatPriced in▲ 1.8% since filed · reaction agrees

adj. EPS $2.15 vs ~$1.48 consensus

This filing tests whether The Andersons' sharp profit increase reflects broad operating improvement or a one-off renewable-fuels boost. It also separates strong adjusted earnings and cash generation from the quarter's legal and impairment charges.

The quarter was substantially stronger than both last year and the published earnings expectation. Adjusted EPS reached $2.15, versus $0.24 a year earlier and above the published consensus of about $1.48; reported EPS was $1.65. Adjusted EBITDA more than doubled to $140 million, while sales slipped modestly — the improvement came from margins and operating performance rather than higher revenue. Financial Highlights · Statements of Operations

Q2 ($M, exc. per-share)	Q2 2026	Q2 2025	YoY
Sales & merchandising revenue	3,097.7	3,135.9	−1%
Net income (attributable)	56.6	7.9	+48.7
Diluted EPS	1.65	0.23	+1.42
Adjusted EPS	2.15	0.24	+1.91
Adjusted EBITDA	140.3	65.2	+75.1
Agribusiness adj. pretax	20.3	16.8	+3.5
Renewables adj. pretax	88.4	9.6	+78.8
Cash from operations	487.9	299.3	+188.6
Cash from ops (pre-WC)	112.9	42.9	+70.1

Renewables drove nearly all of the upside — the operating backdrop was strong, but the result also benefited materially from tax credits. Renewables' adjusted pretax income rose to $88 million on record production, stronger ethanol margins and merchandising gains. It also received $24 million of 45Z producer tax credits, so this was not solely a repeatable plant-margin improvement; the company did cite healthy export and domestic ethanol demand as supportive. Renewables — Record Q2 · Segment Data

Agribusiness improved, but it was a supporting contributor rather than the main earnings engine. Adjusted pretax income increased to $20 million as fertilizer margins improved and merchandising benefited from commodity-price volatility, despite lower fertilizer volumes. Agribusiness — Improved Q2 · Segment Data

Cash generation improved and funding capacity is comfortable, while reported earnings still absorbed meaningful non-core costs. Operating cash flow was $488 million ($113 million before working-capital changes); capital spending was $76 million. Adjusted EPS excludes $0.50 of legal-settlement, impairment and transaction items, so the $2.15 adjusted result runs ahead of the $1.65 reported. Leverage stays below the <2.5× debt-to-EBITDA target; no new quantified full-year outlook was given. Cash & Liquidity · Adjusted Net Income

Community sentiment · 612 votes

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Atlassian earnings beat as AI-led growth lifts FY27 margin outlook

What to watch next

More Atlassian Corp news

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