Atlassian's cloud migration is largely complete with paid customers stabilized, but enterprise penetration remains the underexecuted opportunity against ServiceNow. Rovo AI agents differentiate within developer/dev-ops workflows. Loom acquisition adds video collaboration. Jira and Confluence remain category-defining products with strong gross retention. Growth deceleration to 20% range is the multiple-compression risk.
Thesis reviewed May 29, 2026
Atlassian Corporation is headquartered in United States, which is currently showing moderate signals.
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Atlassian Rovo AI agents reach 1M monthly active users
Cloud paid seats growth decelerates to 15% YoY
Estimates · Yahoo Finance · Not audited figures