| Why It Matters The Cloud Business Is Doing the Heavy Lifting The headline growth is coming from Atlassian's shift to the cloud. Cloud revenue rose 31% to $1.213 billion, now the company's single biggest growth driver. GAAP profitability also turned a corner: diluted earnings per share under standard accounting rules improved to $0.55, up from a $0.09 loss a year earlier, with operating margin reaching 12%. Subscription annual recurring revenue hit $6.61 billion, up 23% from a year ago — a sign customers aren't just staying, they're spending more. Remaining performance obligations — essentially contracted revenue not yet booked — totaled $4.82 billion, up 44% year-over-year. That's a forward-looking number suggesting this quarter wasn't a one-off. |