Atlassian
ConvictionModerate
Subscription SaaS (Cloud) + term-license Data Center + Marketplace app take-rate; product-led bottom-up distribution with low-touch sales, expanding up-market into enterprise.
Revenue
$5.22B FY2025$1.79B Q3 FY26 (quarterRev growth
~20% FY2025+32% YoY Q3 FY26; ~24% total-revenue growth guided for FY2026Gross margin
~83% GAAPFY25) / ~89% non-GAAP (Q3 FY26Op margin
GAAP ~3)% / non-GAAP ~34% Q3 FY26; FY26 guided ~29% non-GAAPCapex intensity
Very low -- asset-light SaaS on AWScapex ~$45M FY2025 (<1% of revenue), so FCF ~= operating cash flowMarket cap
~$20BNasdaq: TEAM, ~$85/sh, early Jul 2026The read
Where our coverage leans
Coverage leans bullish
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Earnings, margins & COGS, the income-statement breakdown, SWOT, moats & dependencies, the supplier–customer ecosystem graph, top signals & trends, and the valuation range.
- Income statement & margin structure
- SWOT, moats & dependency map
- Supplier–customer ecosystem graph
- Signals, trends & valuation range
Not investment advice — analyst work product for a qualified professional.· intel vintage 2026-07· sign in (free) for the analyst summary; Pro unlocks full intelligence