Atlassian Reports a Loss, but Shares Jump as Mike Cannon-Brookes Pledges Path to Profitability
The Australian Financial Review
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Details
- Date Published
- 1 May 2026
- Priority Score
- 1
- Australian
- Yes
- Created
- 1 May 2026, 06:00 am
Description
Shares rally 25 per cent as Mike Cannon-Brookes says customers are “signing bigger, longer deals” despite fears artificial intelligence could hurt growth.
Summary
This reporting focuses on the financial performance of Atlassian and market sentiment regarding the company's ability to maintain growth despite fears that AI could disrupt its software business model. While it touches on business strategy and investor confidence in AI-enabled tools, it does not address existential AI risks or high-level safety governance. The article reflects a corporate perspective on AI as a commercial risk and opportunity rather than a source of catastrophic risk. It highlights the persistence of large-scale enterprise contracts in the Australian-founded tech sector amid a shifting technological landscape.
Body
TechnologyAIPrint articleTess BennettTechnology reporterMay 1, 2026 – 7.09amAtlassian chief executive Mike Cannon-Brookes says the software giant is focused on reaching profitability and ending a decade of losses as a public company, buoying investors with news the company was winning contracts from competitors, despite fears AI would hurt its growth.The stock staged a remarkable comeback on Friday, rising 25 per cent to $US85.61 in after-hours trading on Wall Street after releasing its quarterly financial report which reported revenue and adjusted earnings ahead of expectations.Loading...SaveLog 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 MoreAIEarnings seasonMike Cannon-BrookesAtlassianScott FarquharAFR WeekendFetching latest articles