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Atlassian (TEAM) Q2 FY26 earnings results (second quarter fiscal 2026)
10-Q filed Feb 6, 2026
Atlassian (TEAM) reported revenue of $1.6B for the second quarter fiscal 2026 (Q2 FY26), +23% from a year earlier and +11% from the quarter before. Operating margin was -3.0%, net loss $42.6M (2.7% of revenue).
Atlassian, Q2 FY26: revenue $1.6B (+23% year over year), operating margin -3.0%, net loss $42.6M, operating cash flow $178M. The chart follows the revenue to costs, profit and cash.
| Q2 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.6B | +11% | +23% |
| Operating profit | −$47.7M | — | — |
| Net earnings | −$42.6M | — | — |
| Operating cash flow | $178M | +38% | -49% |
| Free cash flow | $169M | +47% | -51% |
What changed
Revenue was $1.6B in Q2 FY26, up 23% year over year and up 11% from the previous quarter. Cloud was the largest line at 67% of revenue. Cloud added $0.22B year over year (up 26%), 73% of the total change.
Gross margin was 85.0%, up 2.4 points from a year earlier. Operating costs exceeded revenue by $0.05B, an operating margin of -3.0%. Operating expenses grew 25% against revenue growth of 23%. The fastest-growing cost line was Sales & marketing (+38%). The quarter ended with a net loss of $0.04B, narrower than the previous quarter's $0.05B loss.
Operating cash flow was $0.18B (down 49% year over year). Non-cash charges added back $0.04B of depreciation and amortization and $0.45B of share-based compensation. Working capital and other items used $0.27B. Capital expenditures of $0.01B left free cash flow of $0.17B.
Questions
What was Atlassian's revenue in the second quarter fiscal 2026?
Atlassian (TEAM) reported revenue of $1.6B for the second quarter fiscal 2026 (Q2 FY26), +23% from a year earlier and +11% from the quarter before.
Was Atlassian profitable in the second quarter fiscal 2026?
Operating loss was $47.7M (-3.0% of revenue) and net loss $42.6M.
Source: Atlassian 10-Q on SEC EDGAR.