How did Atlassian perform in the fourth quarter of fiscal 2025?

Total revenue was $1,384.3 million, up 22% year-over-year, and subscription revenue was $1,312.5 million, up 23%. GAAP operating loss was $28.5 million and GAAP net loss was $23.9 million ($0.09 per diluted share). On a non-GAAP basis, operating income was $335.9 million (24% operating margin) and net income was $259.1 million ($0.98 per diluted share). Operating cash flow was $375.3 million and free cash flow was $360.3 million.

What is the company's revenue and cash flow outlook for fiscal 2026?

Management expects total revenue growth of approximately 18.0%, with Cloud revenue growth of approximately 21.0%, Data Center revenue growth of approximately 12.5%, and Marketplace and other revenue growth of approximately 10.0%. Guidance calls for GAAP operating margin of approximately (2.5%) and non-GAAP operating margin of approximately 24.0%. For the first quarter of fiscal 2026, total revenue is expected to be between $1,395 million and $1,403 million.

What drove growth and customer metrics this quarter?

The company attributed revenue growth primarily to paid seat expansion, higher average revenue per user, and cross-selling of additional products. It reported 51,978 customers with more than $10,000 in Cloud ARR, up 13% year-over-year, and 2.3 million AI monthly active users. Cloud net revenue retention was approximately 120%, and Data Center to Cloud migrations for the year were up over 60% from the prior year.

Why is Anu Bharadwaj leaving, and when?

Anu Bharadwaj, President, will step down from the role to pursue new opportunities, effective December 31, 2025. The company said she joined almost twelve years ago and previously served as Head of Product and Chief Operating Officer. Chief Executive Officer Mike Cannon-Brookes said he will lead the transition.

What strategic developments did Atlassian announce?

Atlassian announced an expanded strategic partnership with Google Cloud to combine its AI-powered teamwork platform with Google Cloud's AI-optimized infrastructure, described as a major milestone in its multi-cloud strategy. The company also reported general availability of its Talent workforce planning app, introduced Rovo Dev in the command line interface, and reported a record number of deals above $1 million in annual contract value in Q4.

TEAM 8-K: Earnings & Results & Leadership Changes

01—Abstract

Summary

Summary of the 8-K filed August 7, 2025. Cited figures are marked; the original filing is the authoritative source.

Atlassian Corporation reported fourth-quarter and fiscal year 2025 results for the period ended June 30, 2025.

Q4 total revenue was $1,384.3 million^a, up 22% from $1,131.6 million a year earlier, and Q4 subscription revenue was $1,312.5 million, up 23% year-over-year. Cloud revenue was $927.7 million, up 26%. Fiscal 2025 revenue was $5.2 billion, up 20%.

On a GAAP basis, Q4 operating loss was $28.5 million^b (operating margin of (2%)) and net loss was $23.9 million, or $0.09 per diluted share. On a non-GAAP basis, Q4 operating income was $335.9 million (24% margin) and free cash flow was $360.3 million (26% free cash flow margin). Fiscal 2025 free cash flow was $1,415.5 million.

Management highlighted growth in enterprise customers, AI adoption, and cloud migrations. The company ended Q4 with 51,978 customers with more than $10,000^c in Cloud ARR, up 13% year-over-year, and reported 2.3 million AI monthly active users. Cloud net revenue retention was approximately 120%, and the company signed a record number of deals above $1 million in annual contract value, which the shareholder letter says were up more than 2x year-over-year.

Data Center to Cloud migrations for the year were up over 60%^d. The company also announced a multi-year strategic partnership with Google Cloud. For fiscal 2026, Atlassian guided to total revenue growth of approximately 18.0%, Cloud revenue growth of approximately 21.0%, GAAP operating margin of approximately (2.5%), and non-GAAP operating margin of approximately 24.0%.

For the first quarter of fiscal 2026, it expects total revenue of $1,395 million to $1,403 million. The filing also disclosed that President Anu Bharadwaj will step down effective December 31, 2025, after almost twelve years with the company.

02—Key points

Key Highlights

Q4 FY25 total revenue of $1,384.3 million, up 22% year-over-year; Cloud revenue of $927.7 million, up 26%
Fiscal 2025 total revenue of $5.2 billion, up 20%; fiscal 2025 free cash flow of $1,415.5 million
Q4 GAAP operating loss of $28.5 million (operating margin of (2%)) versus non-GAAP operating income of $335.9 million (24% margin)
Q4 GAAP net loss of $23.9 million, or $0.09 per diluted share, compared with a net loss of $196.9 million in the prior-year quarter
51,978 customers with more than $10,000 in Cloud ARR, up 13% year-over-year; Cloud net revenue retention of approximately 120%
FY26 guidance: total revenue growth of approximately 18.0%, Cloud revenue growth of approximately 21.0%, non-GAAP operating margin of approximately 24.0%
President Anu Bharadwaj to step down effective December 31, 2025

03—Questions

Frequently Asked Questions

How did Atlassian perform in the fourth quarter of fiscal 2025?
Total revenue was $1,384.3 million, up 22% year-over-year, and subscription revenue was $1,312.5 million, up 23%. GAAP operating loss was $28.5 million and GAAP net loss was $23.9 million ($0.09 per diluted share). On a non-GAAP basis, operating income was $335.9 million (24% operating margin) and net income was $259.1 million ($0.98 per diluted share). Operating cash flow was $375.3 million and free cash flow was $360.3 million.
What is the company's revenue and cash flow outlook for fiscal 2026?
Management expects total revenue growth of approximately 18.0%, with Cloud revenue growth of approximately 21.0%, Data Center revenue growth of approximately 12.5%, and Marketplace and other revenue growth of approximately 10.0%. Guidance calls for GAAP operating margin of approximately (2.5%) and non-GAAP operating margin of approximately 24.0%. For the first quarter of fiscal 2026, total revenue is expected to be between $1,395 million and $1,403 million.
What drove growth and customer metrics this quarter?
The company attributed revenue growth primarily to paid seat expansion, higher average revenue per user, and cross-selling of additional products. It reported 51,978 customers with more than $10,000 in Cloud ARR, up 13% year-over-year, and 2.3 million AI monthly active users. Cloud net revenue retention was approximately 120%, and Data Center to Cloud migrations for the year were up over 60% from the prior year.
Why is Anu Bharadwaj leaving, and when?
Anu Bharadwaj, President, will step down from the role to pursue new opportunities, effective December 31, 2025. The company said she joined almost twelve years ago and previously served as Head of Product and Chief Operating Officer. Chief Executive Officer Mike Cannon-Brookes said he will lead the transition.
What strategic developments did Atlassian announce?
Atlassian announced an expanded strategic partnership with Google Cloud to combine its AI-powered teamwork platform with Google Cloud's AI-optimized infrastructure, described as a major milestone in its multi-cloud strategy. The company also reported general availability of its Talent workforce planning app, introduced Rovo Dev in the command line interface, and reported a record number of deals above $1 million in annual contract value in Q4.

04—Continue

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