Revenue growth accelerated to 31.7% in 2026Q3, supported by a resilient 84.9% gross margin despite ongoing R&D investments that continue to drive GAAP operating losses.
| Metric | TTM | Jun'25 | Jun'24 | Jun'23 | Jun'22 | Jun'21 | Jun'20 | Jun'19 | Jun'18 | Jun'17 | Jun'16 | Jun'15 | Jun'14 | Jun'13 |
|---|
| Sales/Revenue | 6.19B | 5.22B | 4.36B | 3.53B | 2.8B | 2.09B | 1.61B | 1.21B | 873.95M | 619.94M | 457.06M | 319.52M | 215.11M | 148.51M |
| Revenue Growth % | 24.74% | 19.66% | 23.31% | 26.11% | 34.16% | 29.42% | 33.39% | 38.47% | 40.97% | 35.64% | 43.04% | 48.54% | 44.84% | - |
| Cost of Goods Sold | 999.46M | 894.85M | 803.5M | 633.76M | 452.91M | 346.71M | 268.81M | 210.28M | 172.69M | 119.16M | 75.78M | 52.93M | 37.99M | 33.03M |
| COGS % of Revenue | - | 17.16% | 18.43% | 17.93% | 16.16% | 16.6% | 16.65% | 17.38% | 19.76% | 19.22% | 16.58% | 16.57% | 17.66% | 22.24% |
| Gross Profit | 5.19B | 4.32B | 3.56B | 2.9B | 2.35B | 1.74B | 1.35B | 999.84M | 708.29M | 507.52M | 381.27M | 266.59M | 177.12M | 115.48M |
| Gross Margin % | 83.85% | 82.84% | 81.57% | 82.07% | 83.84% | 83.4% | 83.35% | 82.62% | 81.04% | 81.87% | 83.42% | 83.43% | 82.34% | 77.76% |
| Gross Profit Growth % | - | 21.53% | 22.55% | 23.44% | 34.87% | 29.51% | 34.56% | 41.16% | 39.56% | 33.11% | 43.02% | 50.51% | 53.38% | - |
| Operating Expenses | 5.42B | 4.45B | 3.67B | 3.25B | 2.28B | 1.67B | 1.33B | 1.06B | 754.33M | 563.36M | 387.15M | 264.88M | 154.42M | 102.36M |
| OpEx % of Revenue | - | 85.34% | 84.25% | 91.84% | 81.34% | 80.17% | 82.47% | 87.86% | 86.31% | 90.87% | 84.71% | 82.9% | 71.79% | 68.93% |
| Selling, General & Admin | 2.21B | 1.78B | 1.48B | 1.37B | 978.68M | 683.13M | 568.09M | 484.07M | 338.56M | 253.19M | 178.85M | 124.02M | 75.78M | 45.06M |
| SG&A % of Revenue | - | 34.16% | 33.86% | 38.66% | 34.92% | 32.7% | 35.19% | 40% | 38.74% | 40.84% | 39.13% | 38.81% | 35.23% | 30.34% |
| Research & Development | 3.21B | 2.67B | 2.18B | 1.87B | 1.29B | 991.65M | 763.19M | 579.13M | 415.78M | 310.17M | 208.31M | 140.85M | 78.64M | 57.3M |
| R&D % of Revenue | - | 51.18% | 50.11% | 52.9% | 46.09% | 47.47% | 47.28% | 47.86% | 47.57% | 50.03% | 45.58% | 44.08% | 36.56% | 38.58% |
| Other Operating Expenses | 0 | 0 | 12.39M | 9.9M | 9.33M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | -229.86M | -130.39M | -117.08M | -345.22M | 70.08M | 67.65M | 14.09M | -63.36M | -46.05M | -55.83M | -5.88M | 1.71M | 22.7M | 13.12M |
| Operating Margin % | -3.71% | -2.5% | -2.69% | -9.77% | 2.5% | 3.24% | 0.87% | -5.24% | -5.27% | -9.01% | -1.29% | 0.54% | 10.55% | 8.83% |
| Operating Income Growth % | - | -11.37% | 66.09% | -592.59% | 3.6% | 380.24% | 122.23% | -37.61% | 17.53% | -849.56% | -443.06% | -92.45% | 73.04% | - |
| EBITDA | -105.4M | -38.02M | -38.34M | -284.3M | 121.82M | 160.5M | 111.48M | 6.89M | 33.39M | 5.71M | 16.05M | 17.23M | 36.02M | 25.18M |
| EBITDA Margin % | -1.7% | -0.73% | -0.88% | -8.04% | 4.35% | 7.68% | 6.91% | 0.57% | 3.82% | 0.92% | 3.51% | 5.39% | 16.74% | 16.95% |
| EBITDA Growth % | -37.72% | 0.84% | 86.51% | -333.37% | -24.1% | 43.96% | 1519% | -79.38% | 484.56% | -64.4% | -6.84% | -52.18% | 43.04% | - |
| D&A (Non-Cash Add-back) | 124.46M | 92.38M | 78.74M | 60.92M | 51.74M | 92.85M | 97.4M | 70.25M | 79.44M | 61.55M | 21.93M | 15.51M | 13.32M | 12.06M |
| EBIT | -151.65M | -68.34M | -51.33M | -280.99M | -429.47M | -511.95M | -296.6M | -565.32M | -51.33M | -52.33M | -4.84M | -675K | 22.46M | 11.68M |
| Net Interest Income | 47.43M | 81.77M | 62.59M | 19.59M | -39.18M | -85.43M | -21.81M | -6.74M | 3.07M | 4.78M | 2.04M | 152K | 89K | 202K |
| Interest Income | 90.87M | 112.32M | 96.66M | 49.73M | 2.28M | 7.16M | 27.8M | 33.5M | 9.88M | 4.85M | 2.12M | 226K | 317K | 474K |
| Interest Expense | 43.44M | 30.55M | 34.08M | 30.15M | 41.47M | 92.59M | 49.61M | 40.24M | 6.81M | 75K | 71K | 74K | 228K | 272K |
| Other Income/Expense | 40.79M | 31.5M | 31.67M | 34.09M | -541.02M | -702.31M | -360.3M | -542.19M | -12.09M | 3.43M | 973K | -2.46M | -473K | -1.72M |
| Pretax Income | -189.07M | -98.89M | -85.41M | -311.14M | -470.94M | -634.66M | -346.21M | -605.56M | -58.13M | -52.4M | -4.91M | -749K | 22.23M | 11.4M |
| Pretax Margin % | -3.05% | -1.9% | -1.96% | -8.8% | -16.8% | -30.38% | -21.45% | -50.04% | -6.65% | -8.45% | -1.07% | -0.23% | 10.33% | 7.68% |
| Income Tax | 27.74M | 157.79M | 215.11M | 175.63M | 48.57M | 61.65M | 4.45M | 32.06M | 55.3M | -14.95M | -9.28M | -7.52M | 3.25M | 642K |
| Effective Tax Rate % | -14.67% | -159.56% | -251.87% | -56.45% | -10.31% | -9.71% | -1.28% | -5.3% | -95.13% | 28.53% | 189.12% | 1004.54% | 14.6% | 5.63% |
| Net Income | -216.81M | -256.69M | -300.52M | -486.76M | -519.51M | -696.32M | -350.65M | -637.62M | -113.43M | -37.45M | 4.37M | 6.78M | 18.98M | 10.76M |
| Net Margin % | -3.5% | -4.92% | -6.89% | -13.77% | -18.53% | -33.33% | -21.72% | -52.69% | -12.98% | -6.04% | 0.96% | 2.12% | 8.82% | 7.25% |
| Net Income Growth % | 49.54% | 14.59% | 38.26% | 6.3% | 25.39% | -98.58% | 45.01% | -462.12% | -202.9% | -956.37% | -35.45% | -64.31% | 76.4% | - |
| Net Income (Continuing) | -216.81M | -256.69M | -300.52M | -486.76M | -519.51M | -696.32M | -350.65M | -637.62M | -113.43M | -37.45M | 4.37M | 6.78M | 18.98M | 10.76M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.83 | -0.98 | -1.16 | -1.90 | -2.05 | -2.79 | -1.43 | -2.67 | -0.52 | -0.19 | 0.02 | 0.03 | 0.09 | 0.05 |
| EPS Growth % | 49.95% | 15.52% | 38.95% | 7.32% | 26.52% | -95.1% | 46.44% | -413.46% | -173.68% | -1050% | -38.46% | -64.29% | 76.36% | - |
| EPS (Basic) | - | -0.98 | -1.16 | -1.90 | -2.05 | -2.79 | -1.43 | -2.67 | -0.52 | -0.19 | 0.02 | 0.03 | 0.09 | 0.05 |
| Diluted Shares Outstanding | 260.96M | 261.79M | 259.13M | 256.31M | 253.31M | 249.68M | 244.84M | 238.61M | 231.18M | 222.22M | 193.48M | 208.68M | 208.68M | 208.68M |
| Basic Shares Outstanding | 260.96M | 261.79M | 259.13M | 256.19M | 253.31M | 249.56M | 244.84M | 238.61M | 231.18M | 220.29M | 192.83M | 208.68M | 208.68M | 208.68M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | 52.68% | 20.45% |
Persistent GAAP Operating Losses
According to recent financial filings, Atlassian's quarterly revenue growth accelerated to 31.7% in 2026Q3, reflecting a successful push toward cloud-based subscriptions as the company capitalizes on the final stages of its legacy server product sunsetting and increased enterprise adoption of its core collaborative software suite.
The acceleration in top-line growth suggests that the company's land-and-expand strategy is effectively capturing higher-tier enterprise spend. Investors should monitor whether this momentum is sustainable once the migration tailwinds from the server-to-cloud transition fully dissipate in coming quarters.
As reported in quarterly income statements, Atlassian maintains a robust gross margin profile of 84.9% in 2026Q3, which underscores the inherent scalability of its software-as-a-service model despite the ongoing costs associated with maintaining dual-deployment environments during the transition to cloud-native infrastructure.
The stability of these margins suggests that the company possesses significant pricing power within its ecosystem. However, the persistence of high COGS relative to revenue growth warrants further investigation into whether cloud infrastructure costs may eventually compress these margins as the user base scales.
Based on the provided income statement data, R&D expenses reached $926.9 million in 2026Q3, representing a substantial portion of revenue that continues to outpace operating income generation and keeps the company in a state of persistent GAAP operating losses despite strong top-line expansion.
This aggressive reinvestment strategy appears to prioritize long-term product-led growth over immediate bottom-line results. Analysts should consider whether this level of R&D spending is a permanent structural requirement to defend the moat or if it may eventually moderate as the product suite matures.
Data from recent SEC filings indicates that Atlassian's net income is significantly impacted by stock-based compensation, which reached $408.3 million in 2026Q3, effectively masking the underlying cash-generating capability of the business and complicating the assessment of true GAAP profitability for equity holders.
The high reliance on equity-based incentives suggests that management is prioritizing talent retention in a competitive engineering market. Investors should be cautious, as this non-cash expense creates a persistent wedge between reported net losses and the potential for future free cash flow conversion.
Quick answers to the most common questions about buying TEAM stock.
For fiscal year 2025, Atlassian Corporation (TEAM) reported total revenue of $5.22B. This represents a 3411.7% increase compared to $148.5M in 2013.
Atlassian Corporation (TEAM) reported a net loss of $256.7M for the fiscal year ending 2025.
Atlassian Corporation (TEAM) reported an operating income of $-130.4M, resulting in an operating profit margin of -2.5%. This margin reflects the operational efficiency of the business before interest and taxes.
Atlassian Corporation (TEAM) generated $4.32B in gross profit for the year, representing a gross profit margin of 82.8%. This demonstrates the company's core pricing power and production efficiency.