Atlassian (TEAM) Q1 FY2027 earnings: revenue $1.8 billion, up 23.7% on the year

Atlassian Corp. (TEAM) reported revenue of $1.8 billion for Q1 FY2027, the quarter ended 30 September 2026, up 23.7% on the same quarter a year earlier. Net income was $91 million, and diluted earnings per share $0.35. The figures are the company's own, from the 10-Q it filed with the SEC on 6 November 2026.

Revenue

$1.8 billion

+23.7% on the year · +0.3% on the quarter

Q2 FY2025Q1 FY2027

Operating margin

10.7%

-6.7% a year earlier

Q2 FY2025Q1 FY2027

Net income

$91 million

-34.8% on the quarter

Q2 FY2025Q1 FY2027

Diluted EPS

$0.35

-36.4% on the quarter

Q2 FY2025Q1 FY2027

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 6 raised, 6 new, 1 kept.

Revenue rose 24% to $1,772 million: Total revenue was $1,772 million, above the $1,705 million to $1,715 million first-quarter range given in the prior release.
GAAP operating income reached $189 million: GAAP operating margin was 11%, against (7%) a year earlier, when the company reported an operating loss of $96 million.
Cloud revenue rose 31%: Cloud revenue was $1,302 million, up from $998 million, and made up about 73% of total revenue.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q1 FY2027	Q4 FY2026	Q1 FY2026	On the quarter	On the year
Revenue	1,772	1,766	1,433	+0.3%	+23.7%
Cost of revenue	262	238	258	+9.8%	+1.5%
Gross profit	1,510	1,528	1,175	-1.2%	+28.6%
Gross margin	85.2%	86.5%	82.0%
Research and development	759	760	756	-0.1%	+0.4%
Operating income	189	211	-96.3	-10.4%
Operating margin	10.7%	11.9%	-6.7%
Interest expense	14.2	14.1	8.6	+0.3%	+64.4%
Pre-tax income	170	197	-56.3	-13.6%
Income tax	79.5	57.8	-4.5	+37.4%
Effective tax rate	46.7%	29.4%	n/a
Net income	90.7	139	-51.9	-34.8%
Net margin	5.1%	7.9%	-3.6%
Diluted EPS	$0.35	$0.55	-$0.20	-36.4%

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q1 FY2027	Q4 FY2026	Q1 FY2026	On the quarter	On the year
Operating cash flow	469	479	129	-2.2%	+264.0%
Capital expenditure	6.0	4.4	14.1	+34.4%	-57.7%
Free cash flow	463	475	115	-2.6%	+303.6%
Free cash flow margin	26.1%	26.9%	8.0%
Cash from investing	-6.1	-6.4	-60.7
Cash from financing	-588	-359	-253
Depreciation and amortisation	39.7	39.4	24.3	+0.6%	+63.0%
Share-based compensation	356	394	351	-9.6%	+1.5%
Buybacks	588	359	253	+63.7%	+132.6%
Diluted shares, weighted	257m	253m	263m	+1.4%	-2.3%
Shares outstanding at period end	252m	253m	263m	-0.5%	-4.3%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q1 FY2027	Q4 FY2026	Q1 FY2026	On the quarter	On the year
Shareholders' equity	911	1,058	1,379	-14.0%	-34.0%
Debt	990	990	988	+0.0%	+0.2%
Operating lease liabilities	187	195	189	-4.0%	-0.8%
Other liabilities	3,423	3,861	3,165	-11.3%	+8.2%
Total liabilities and equity	5,511	6,104	5,720	-9.7%	-3.7%
Fixed assets	79.4	86.3	99.7	-8.0%	-20.4%
Goodwill	2,302	2,303	1,318	-0.0%	+74.7%
Intangible assets	402	432	236	-7.1%	+70.3%
Investments	n/a	0.0	456
Cash and equivalents	1,121	1,240	2,322	-9.6%	-51.8%
Receivables	812	1,270	537	-36.0%	+51.3%
Other assets	795	773	752	+2.8%	+5.7%
Total assets	5,511	6,104	5,720	-9.7%	-3.7%

Questions

What was Atlassian's revenue in Q1 FY2027?

Atlassian (TEAM) reported revenue of $1.8 billion for Q1 FY2027, the quarter ended 30 September 2026, up 23.7% on the same quarter a year earlier.

How much did Atlassian earn in Q1 FY2027?

Net income for Q1 FY2027 was $91 million, and diluted earnings per share $0.35.

When did Atlassian report Q1 FY2027 results?

Atlassian filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 6 November 2026.

Quarterly results, the last 20 quarters

	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026	Q4 FY2026 *	Q1 FY2027
Revenue	689	740	760	807	873	915	939	978	1,060	1,189	1,132	1,188	1,286	1,357	1,384	1,433	1,586	1,787	1,766	1,772
Cost of revenue	110	116	130	139	156	169	170	178	195	213	218	218	223	220	234	258	238	263	238	262
Gross profit	578	624	629	668	717	747	769	800	866	976	914	970	1,063	1,137	1,150	1,175	1,349	1,524	1,528	1,510
Gross margin	84%	84%	83%	83%	82%	82%	82%	82%	82%	82%	81%	82%	83%	84%	83%	82%	85%	85%	87%	85%
R&D	319	334	367	399	474	522	475	482	537	576	589	603	680	685	701	756	826	927	760	759
Operating income	23.0	32.9	-42.3	-34.0	-99.2	-162	-50.4	-18.9	-49.1	17.8	-67.0	-32.0	-57.5	-12.5	-28.5	-96.3	-47.7	-56.3	211	189
Operating margin	3%	4%	-6%	-4%	-11%	-18%	-5%	-2%	-5%	1%	-6%	-3%	-4%	-1%	-2%	-7%	-3%	-3%	12%	11%
Interest expense	21.0	4.2	4.8	6.1	7.5	8.0	8.5	9.0	9.0	8.5	7.6	7.3	7.3	7.8	8.1	8.6	12.5	14.1	14.1	14.2
Pre-tax income	-20.2	6.3	-46.4	-5.7	-105	-155	-45.4	-11.0	-40.1	19.8	-54.1	-30.2	-47.2	-7.4	-14.2	-56.3	-55.8	-62.8	197	170
Tax rate	n/a	26%	n/a	n/a	n/a	n/a	n/a	n/a	n/a	36%	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	29%	47%
Net income	-22.3	4.7	-90.6	-13.7	-205	-209	-59.0	-31.9	-84.5	12.8	-197	-124	-38.2	-70.8	-23.9	-51.9	-42.6	-98.4	139	90.7
Net margin	-3%	1%	-12%	-2%	-23%	-23%	-6%	-3%	-8%	1%	-17%	-10%	-3%	-5%	-2%	-4%	-3%	-6%	8%	5%
Diluted EPS	-$0.09	$0.02	-$0.35	-$0.05	-$0.80	-$0.81	-$0.24	-$0.12	-$0.33	$0.05	-$0.76	-$0.48	-$0.15	-$0.27	-$0.09	-$0.20	-$0.16	-$0.38	$0.55	$0.35
Operating cash flow	206	335	215	92.4	151	352	273	167	290	565	426	80.5	352	653	375	129	178	567	479	469
Capital expenditure	12.6	26.5	24.6	16.5	4.0	2.7	2.4	3.7	5.3	10.5	13.1	6.2	9.3	14.4	15.0	14.1	9.3	6.2	4.4	6.0
Free cash flow	194	308	190	75.9	146	350	270	163	284	555	413	74.3	343	638	360	115	169	561	475	463
Buybacks	n/a	0.0	n/a	0.0	0.0	31.7	118	65.9	102	35.4	192	184	69.2	134	392	253	197	991	359	588
Shares outstanding	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	262m	263m	262m	263m	264m	254m	253m	252m
Filing	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 September 2026, filed 6 November 2026: the filing.