Atlassian Corporation Plc Q4 2026 Earnings Recap

Atlassian’s shares surged 31.5% following a Q4 report that demonstrated accelerating cloud revenue growth and exceptionally strong renewal metrics, signaling investor approval of its expanding enterprise footprint and AI integration despite a cautious full-year ARR growth outlook.

Key Takeaways

• Total revenue increased 28% year-over-year to $1.8 billion, led by a 31% rise in cloud revenue, which reached $1.2 billion.
• Remaining Performance Obligations (RPO) grew 44% year-over-year, reflecting robust deferred revenue and customer commitments.
• Net Revenue Retention (NRR) remained above 120%, driven by strong seat expansion and cross-sell within AI-enabled workflows.
• Enterprise deals hit record levels at $1 million, $3 million, and $5 million contract thresholds, with customers at $3 million ARR growing 50% and those at $5 million ARR growing 70% year-over-year.
• Full-year FY27 ARR guidance was tempered at 18% growth versus FY26’s 23%, reflecting management’s cautious stance on macro uncertainty and the end of a one-point acquisition-driven growth boost.