Atlassian Results Show Revenue Increase, but Share Price Falls Due to AI Concerns
Australian Financial Review
ENRICHED
Details
- Date Published
- 5 Feb 2026
- Priority Score
- 2
- Australian
- Yes
- Created
- 6 Feb 2026, 01:15 pm
Description
Atlassian’s chief executive insists it is still a great business and that the company’s stock is undervalued as its 2026 plunge continued after earnings.
Summary
Atlassian's recent earnings report reveals an increase in revenue, highlighting the company's strong positioning in the artificial intelligence sector. However, concerns about the implications of AI on business operations have led to a decline in its share price. CEO Mike Cannon-Brookes defended Atlassian's strategy, emphasizing the company's potential in capitalizing on smarter AI. The article underscores the market's ongoing apprehension regarding AI's impact, reflecting wider concerns about AI's role in future enterprise landscapes. While touching on AI and business strategy, the article does not delve deeply into existential risks or catastrophic safety concerns related to AI.
Body
TechnologyEarnings seasonPrint articleTess BennettTechnology reporterFeb 6, 2026 – 9.12amA defensive Mike Cannon-Brookes has insisted his company Atlassian is perfectly positioned to cash in on smarter artificial intelligence, but investors continued to flee after quarterly earnings on Friday.Presenting the Sydney-based software company’s financial results on Friday morning [AEDT] Cannon-Brookes insisted Atlassian was, “continuing to build a f***king great business”.Loading...Tess Bennett is a technology reporter with The Australian Financial Review, based in the Brisbane newsroom. She was previously the work & careers reporter. Message Tess on Signal: @tessbennett.02. Connect with Tess on Twitter. Email Tess at tess.bennett@afr.comSaveLog in or Subscribe to save articleShareCopy linkCopiedEmailLinkedInTwitterFacebookCopy linkCopiedShare via...Gift this articleSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? LoginLicense articleFollow the topics, people and companies that matter to you.Find out moreRead MoreEarnings seasonAtlassianMike Cannon-BrookesEnterprise ITAIOpenAIAnthropicSoftwareFetching latest articles