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How Atlassian (TEAM) makes money

Atlassian (TEAM) made $1.8B of revenue in the first quarter fiscal 2027 (Q1 FY27), +24% from a year earlier. Subscription brought in $1.7B (96%); Marketplace and other brought in $79.0M (4%). Of every dollar of revenue, 85¢ was left as gross profit, 11¢ was left as operating profit, 5¢ was left as net earnings.

Drawing the Sankey…

Atlassian revenue by segment, Q1 FY27Atlassian revenue by segment, Q1 FY27Subscription$1.7BMarketplace and other$79.0M
Atlassian: revenue by line, Q3 FY25 to Q1 FY27Atlassian: revenue by line, Q3 FY25 to Q1 FY27SubscriptionMarketplace and otherSubscription: $1.7B latest$1.7BMarketplace and other: $79.0M latestQ3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Subscription went from 94% of revenue in Q3 FY25 to 96% in Q1 FY27, the largest shift in the mix.
Atlassian revenue by quarterAtlassian revenue by quarter$1.4BQ3 FY25$1.4BQ4 FY25$1.4BQ1 FY26$1.6BQ2 FY26$1.8BQ3 FY26$1.8BQ4 FY26$1.8BQ1 FY27
Atlassian: where each dollar of revenue goesAtlassian: where each dollar of revenue goesCost of revenue15¢Gross profit85¢Operating expenses75¢Operating profit11¢Income tax4¢Net earnings5¢Operating cash flow26¢Free cash flow26¢

Revenue by segment, Q1 FY27

SegmentRevenueShareQ/QY/Y
Subscription$1.7B95.5%+1%+24%
  ↳ Cloud$1.3B73.5%+7%+31%
  ↳ Data Center$391M22.0%-15%+5%
Marketplace and other$79.0M4.5%-13%+27%

Where each dollar of revenue goes

LineQ1 FY27% of revenue
Revenue$1.8B100.0%
Cost of revenue$262M14.8%
Gross profit$1.5B85.2%
Operating expenses$1.3B74.6%
Operating profit$189M10.7%
Income tax$79.5M4.5%
Net earnings$90.7M5.1%
Operating cash flow$469M26.4%
Free cash flow$463M26.1%

Revenue, quarter by quarter

QuarterRevenueY/Y
Q1 FY27$1.8B+24%
Q4 FY26$1.8B+28%
Q3 FY26$1.8B+32%
Q2 FY26$1.6B+23%
Q1 FY26$1.4B+21%
Q4 FY25$1.4B+22%
Q3 FY25$1.4B+14%

From Atlassian's 10-Q filed Nov 6, 2026 (on EDGAR).

Questions

How does Atlassian make money?

Atlassian (TEAM) made $1.8B of revenue in the first quarter fiscal 2027 (Q1 FY27), +24% from a year earlier. Subscription brought in $1.7B (96%); Marketplace and other brought in $79.0M (4%). Of every dollar of revenue, 85¢ was left as gross profit, 11¢ was left as operating profit, 5¢ was left as net earnings.

What is Atlassian's biggest business?

Subscription: $1.7B in the first quarter fiscal 2027, 96% of revenue, +24% from a year earlier.

What is Atlassian's profit margin?

Net earnings were $90.7M, 5.1% of revenue, in the first quarter fiscal 2027; the operating margin was 10.7%.

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Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.