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Atlassian Corp (TEAM)

NASDAQ · Information Technology · Software

Atlassian shares have declined sharply over recent sessions, falling from approximately $68 at the end of March 2026 to under $60 by April 9. The stock is currently trading at roughly 70% below its 52-week high, having averaged $196.02 per share during share repurchases executed in FY2025 (ending June 30, 2025). Price data is derived from options market put-call parity, as direct price feeds were unavailable.

Revenue and Earnings Snapshot

Atlassian has compounded revenue at approximately 23% annually from FY2022 to FY2025, reaching $5.22B. GAAP net losses have narrowed each year (from -$614M to -$257M) as the business scales, though profitability remains masked by $1.36B in stock-based compensation. On a non-GAAP basis, FY2025 operating income was $1.29B (25% margin) and free cash flow reached $1.42B.

About This Report

This research report was independently produced by two AI models analyzing the same underlying data. Each model read Atlassian's SEC filings (10-K for FY2023, FY2024, FY2025), options market data, institutional ownership records, and competitor filings – then formed its own conclusions.

The goal is to surface where the models agree (high-conviction findings) and where they disagree (areas of genuine uncertainty). Neither model has access to the other's analysis until the final synthesis.

Sections

Business – How the business works, competitive positioning, key metrics

Numbers – Financials, valuation, cash generation, peer comparison

People – Management, governance, compensation, alignment

Story – Narrative evolution, credibility, risk history

Verdict – Catalysts, buy/hold/sell decision, scenarios, LEAPS