Atlassian Corporation filed its Form 10-Q for the quarterly period ended September 30, 2026 with the SEC on November 6, 2026, reporting first-quarter results that included a swing to net income from a net loss in the prior-year period.

Key Highlights

  • Total revenues of $1,772,150 thousand for the three months ended September 30, 2026, up from $1,432,553 thousand in the same period of the prior year, according to the filing.
  • Net income of $90,721 thousand for the quarter, compared with a net loss of $51,870 thousand in the three months ended September 30, 2025.
  • Subscription revenue of $1,697,818 thousand made up the dominant portion of total revenues, with other revenues contributing $74,332 thousand.
  • Operating income of $188,793 thousand was reported for the quarter, reversing an operating loss of $96,337 thousand in the year-ago period.
  • 3,340 thousand shares of Class A Common Stock were repurchased during the quarter, reducing accumulated deficit by $583,774 thousand, per the stockholders' equity statement.
  • Total stockholders' equity stood at $910,668 thousand as of September 30, 2026, down from $1,058,442 thousand at June 30, 2026.
  • 157,719,357 shares of Class A Common Stock and 94,133,617 shares of Class B Common Stock were outstanding as of October 30, 2026.

Atlassian's Q1 Fiscal 2027 Revenue and Profitability Shift

Atlassian Corporation, listed on the Nasdaq Global Select Market under the ticker NASDAQ:TEAM, provides software products including tools for team collaboration and project tracking. According to the filing, the company generated total revenues of $1,772,150 thousand for the three months ended September 30, 2026, compared with $1,432,553 thousand in the same quarter a year earlier. Subscription revenues, the primary component, rose to $1,697,818 thousand from $1,374,502 thousand year over year.

The filing reported gross profit of $1,510,232 thousand on cost of revenues of $261,918 thousand. Total operating expenses were $1,321,439 thousand, led by research and development at $758,882 thousand. Stock-based compensation included in operating expenses totaled $255,244 thousand within research and development alone, and $356,487 thousand in total stock-based compensation was recognized in the equity statement for the period.

The company disclosed a provision for income taxes of $79,474 thousand, resulting in net income of $90,721 thousand, or $0.35 per diluted share. Total assets as of September 30, 2026 were $5,510,930 thousand, with goodwill of $2,302,451 thousand and intangible assets, net, of $401,718 thousand. Long-term debt stood at $990,045 thousand, and deferred revenue, current portion, was $2,240,872 thousand, reflecting the subscription-based nature of the company's revenue model.

What Was Disclosed

Atlassian's quarterly filing for the period ended September 30, 2026 covered condensed consolidated financial statements showing a year-over-year revenue increase, a move to operating and net income, share repurchase activity affecting stockholders' equity, and balance sheet details including goodwill, long-term debt, and deferred revenue balances.