Atlassian (TEAM) Citi’s 2026 Global TMT Conference summary

Strategic priorities and AI impact

• AI is seen as a significant tailwind, driving value through the Teamwork Graph and broadening enterprise adoption.

• Strategic focus areas include AI, system of work, enterprise, and driving durable, profitable growth.

• 80% of Fortune 500 companies now use Rovo, with Rovo-assisted actions up 50% quarter-over-quarter.

• Teamwork Collection is the primary channel for AI adoption, offering generous Rovo credits to reduce friction.

• Customers using Rovo see ARR growth 2x higher than those who do not.

Financial performance and growth drivers

• Q4 revenue reached $1.8 billion, up 28% year-over-year; ARR grew 23%, and RPO grew 44%.

• Cloud revenue growth accelerated from 26% to 31% over the last four quarters.

• Customers migrating from Data Center to cloud spend 1.75x more after three years.

• Subscription ARR grew 23% year-over-year in Q4, with guidance for deceleration in FY 2027 due to macro uncertainty.

• $3M and $5M ARR customer cohorts are growing 50% and 70% year-over-year, respectively.

Product and go-to-market evolution

• Five collections now exist: Teamwork, Service, Software, Product, and others, with significant cross-sell opportunities.

• Service Collection surpassed $1B in ARR, growing over 30% year-over-year.

• Sales team expanded from 115 to nearly 400 reps in two to three years to meet enterprise demand.

• Partner programs are shifting from volume discounts to strategic alignment, focusing on cloud and AI adoption.

• Marketplace and solution partners are incentivized to build on the Forge platform for cloud migration.