Atlassian co-founder and CEO Mike Cannon-Brookes has committed to investing up to $355 million of his personal wealth into the software giant following a better-than-expected June quarter, while cautioning that revenue growth is set to decelerate markedly.
Shares in the Sydney-born company jumped more than 30 per cent on Friday after Atlassian exceeded Wall Street forecasts and delivered a surprise profit.
Strong quarterly results
Atlassian, founded in 2002, develops workplace software used by millions of companies globally, including its flagship products Jira, Confluence and Trello, which help teams track projects, manage workflows and collaborate. The company is one of Australia's most successful technology exports.
“Q4 closes out a year that proves our long-term strategy is paying off,” Cannon-Brookes said in a press release.
“Total revenue grew 28 per cent year-over-year to $1.8 billion, Cloud revenue growth accelerated to 31 per cent year-over-year, and our MCP server and Teamwork Graph CLI surpassed one million monthly active users, more than doubling in a single quarter.”
Investment and shareholding
Cannon-Brookes told investors he plans to buy up to $US250 million (about 0.9 per cent) of Atlassian stock. If co-founder Scott Farquhar does not match the move, Cannon-Brookes will become the company's largest individual shareholder. The pair currently each own roughly 20 per cent.
The company posted a $US139 million quarterly profit, a dramatic turnaround from the $US23.9 million loss recorded a year earlier. Adjusted earnings hit $US1.87 per share, beating analyst expectations of $US1.50.
Full-year performance
Across the full financial year, Atlassian's net loss narrowed to $US53.8 million, down from $US256.7 million.
Earlier in 2026, Atlassian's share price had fallen by more than 50 per cent amid job cuts and concerns over AI making some software irrelevant. Cannon-Brookes, who cut 1600 jobs in March, about 10 per cent of Atlassian's global workforce, insisted the company is well-placed to survive and grow through the artificial intelligence boom.
AI strategy
Artificial intelligence is rapidly reshaping the software industry, and Atlassian is directly affected. Its core products, such as Jira and Confluence, rely on teams manually entering tasks, updates and documentation. AI tools can now generate those updates automatically, predict workflows and even write code, raising fears that Atlassian's traditional software could become less essential.
But Atlassian has been racing to build its own AI features, including automated summaries, smart search and tools that generate project updates without human input. Cannon-Brookes argues AI will make its products faster, more useful and more deeply embedded in workplaces.
Atlassian's AI agent, Rovo, grew its users by more than 50 per cent quarter-on-quarter, according to Cannon-Brookes.
