Q2 26 EPS
$1.22
BEAT +6.62%
Est. $1.14
Q2 26 Revenue
$1.59B
BEAT +2.74%
Est. $1.54B
vs S&P Since Q2 26
-10.0%
TRAILING MARKET
TEAM -5.6% vs S&P +4.3%
Market Reaction
Did TEAM Beat Earnings? Q2 2026 Results
Atlassian closed out a strong second fiscal quarter of 2026, beating on both the top and bottom lines as accelerating enterprise demand and a landmark Cloud milestone underscored the company's growth trajectory. Non-GAAP EPS came in at $1.22, topping… Read more Atlassian closed out a strong second fiscal quarter of 2026, beating on both the top and bottom lines as accelerating enterprise demand and a landmark Cloud milestone underscored the company's growth trajectory. Non-GAAP EPS came in at $1.22, topping the $1.14 consensus estimate by 6.62%, while revenue of $1.59 billion grew 23.3% year-over-year and cleared analyst expectations by 2.74%, driven in large part by Atlassian's first-ever $1.07 billion Cloud revenue quarter. Enterprise momentum was particularly notable, with the number of deals exceeding $1 million in annual contract value nearly doubling year-over-year and remaining performance obligations surging 44% to $3.81 billion, reflecting deepening long-term customer commitments. Non-GAAP operating margin held at 27%, up one percentage point year-over-year. Looking ahead, management raised its full-year FY26 revenue growth outlook to approximately 22%, and guided Q3 revenue to $1.69 billion to $1.70 billion, while also signaling plans to accelerate share repurchases in the second half at roughly two to three times the first-half pace.
Key Takeaways
- • Cloud revenue grew 26% YoY to first-ever $1 billion Cloud revenue quarter
- • RPO up 44% YoY to $3.8 billion reflecting deepening enterprise commitments
- • Record number of $1M+ ACV deals, up nearly 2x YoY
- • Cloud net revenue retention rate above 120%, ticking up for third consecutive quarter
- • Paid seat expansion, cross-sell, and customer retention exceeded expectations
- • Revenue growth driven by paid seat expansion, higher ARPU, and cross-sell of additional products
- • Data Center EOL revenue recognition impact and price increases drove Data Center growth
- • DX acquisition contributed approximately 75 basis points to Cloud revenue growth
TEAM YoY Financials
Q2 2026 vs Q2 2025, source: SEC Filings
TEAM Revenue by Segment
With YoY comparisons, source: SEC Filings
TEAM Revenue by Geography
Regional revenue distribution
“We closed out Q2 with incredible momentum across the Atlassian platform and achieved some impressive milestones along the way. We delivered our first-ever $1 billion Cloud revenue quarter, which grew 26% year-over-year, crossed 350,000 customers, and Rovo surpassed 5 million monthly active users.”
— Mike Cannon-Brookes, Q2 2026 Earnings Press Release
TEAM Earnings Trends
TEAM vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
TEAM EPS Trend
Earnings per share: estimate vs actual
TEAM Revenue Trend
Quarterly revenue: estimate vs actual
TEAM Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q3 26 | — | $1.75 | — | $1.79B | +5.24% |
| Q2 26 BEAT | $1.14 | $1.22 | +6.62% | $1.59B | +2.74% |
| Q1 26 BEAT | $0.84 | $1.04 | +24.13% | $1.43B | +2.18% |
| Q4 25 BEAT FY | $0.85 | $0.98 | +15.29% | $1.38B | +0.95% |
| FY Full Year | $3.56 | $3.68 | +3.37% | $5.22B | +0.25% |
| Q3 25 BEAT | $0.93 | $0.97 | +4.85% | $1.36B | +0.28% |