Atlassian Q2: Ignore Market's Short-Term Pessimism

Atlassian's multiple contraction is a long-term buying opportunity, as fundamentals remain strong and strategic investments in AI and System of Work drive enterprise adoption. Q4 FY25 results beat expectations, with 22% YoY revenue growth and strong Cloud segment performance, highlighting successful product innovation and customer expansion. Management's cautious FY26 guidance reflects macro uncertainty, but confidence remains in achieving $10B in revenue by FY29 and margin expansion from FY27 onward.