Can Strong Cloud Growth Sustain Atlassian's Revenue Momentum?

Atlassian TEAM is seeing strong momentum in its cloud business, which remains a key driver of overall growth. In the fourth quarter of fiscal 2026, cloud revenues rose 31% year over year to $1.2 billion, faster than the company's 28% total revenue growth to $1.8 billion. Management said cloud performance was helped by strong cross-sell and seat expansion, while data center-to-cloud migrations remained in line with expectations. The company is also seeing higher adoption of its collections, particularly Teamwork Collection and Service Collection. Service Collection revenue growth accelerated in the quarter, supported by growing use of AI and agentic automation.