CluenexAtlassian TEAM
Atlassian scores good on business quality (6.3 of 10). Here is why, in plain words, and what our sealed record shows.
Why it matters
- What Atlassian does
Atlassian builds collaboration software like Jira and Confluence, charging software development and IT teams subscription fees to track projects and document workflows.
- What it does best
Atlassian converts developer habits into sticky software lock-in, driving an elite 84.8% gross margin that sits in the top decile of its sector. Developers embed Jira so deeply into daily engineering tracking that ripping it out risks total workflow chaos, creating immense switching costs.
- The main risk
A stretched valuation leaves zero room for execution errors while new artificial intelligence tools face questions over whether they justify fully valued stock prices.
Quality, check by check
Scored against its own industry, from company filings.
Operating margin rests at a razor-thin 0.1% while net margin dips to -0.8% due to heavy spending, meaning scale has not yet translated into bottom-line profits.
Massive developer switching costs lock in enterprise engineering teams, yielding a gross margin ranking in the 94th sector percentile that rivals cannot easily copy.
Revenue grew 26.0% to $6.6 billion, accelerating past historical rates from prior fiscal years as enterprise adoption scales up.
Total debt sits at $986.0 million against $2.3 billion in cash, leaving a net cash position. Free cash flow reached $1.3B, though interest coverage of 0.2x shows thin safety on debt obligations.
Insiders
Executives and directors, from SEC Form 4 filings we read ourselves. Open market trades only; grants, option exercises and pre-planned sales left out.
2 sold $3.1M outside pre-planned sales.
Our sealed record on TEAM
Verdicts appear here 30 days after we publish them; members see today's. Each one is in the nightly ledger, fingerprinted the night it was made.
The first sealed verdicts appear here on Oct 11, 2026.
Questions
Atlassian scores good on the Cluenex quality check (6.3 of 10), measured against its own industry. Profitability is weak, moat strong, growth fast and financial health weak.
In the last 90 days of SEC Form 4 filings: 2 sold $3.1M outside pre-planned sales.
Nov 5, 2026.
See TEAM today
- Today's verdict on TEAM, and why
- Fair value with cautious, base and optimistic cases
- The exact price that would change the verdict
- Which stocks each signal names, the night it fires
Cite this page: Cluenex, “Atlassian (TEAM)”, https://cluenex.com/stocks/team/, data as of Oct 10, 2026.