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Atlassian and Cloudflare results counter SaaSpocalypse worries
Atlassian posted adjusted EPS of $1.87 and boosted Remaining Performance Obligations 44% to $4.8 billion, while Cloudflare reported 36% year-over-year revenue growth to $696.1 million.
After a run of software earnings that fueled Wall Street concerns about AI disruption and weakening enterprise IT demand, Atlassian and Cloudflare delivered results that pushed back against the so-called "SaaSpocalypse" narrative, according to Yahoo Finance.
Atlassian reported fiscal fourth-quarter adjusted earnings per share of $1.87, beating the Street average of $1.50, helped by solid operating margins and top-line growth. The company also said its Remaining Performance Obligations, a key measure of future revenue, rose 44% year-over-year to $4.8 billion.
Atlassian’s outlook included a projected fiscal 2027 operating margin of 25%, which was below the expected 28.6%. The company’s CEO also announced plans to personally buy up to $250 million of Atlassian stock.
Cloudflare, meanwhile, marked a record-breaking quarter as enterprise adoption increased across its edge security, performance, and developer platforms. The company said second-quarter revenue rose 36% year-over-year to $696.1 million, topping the $666 million expectation, and it raised its full-year 2026 revenue outlook to a range of $2.864 billion to $2.870 billion.