Atlassian Adds AI Without Raising Costs

Atlassian told investors on its Thursday earnings call that it has deployed five million users of Rovo, its agentic AI, while maintaining gross margins and controlling cloud costs. Q2 revenue reached $1.6 billion, up 23% year over year, operating losses narrowed to $47.7 million, and cloud product revenue hit $1 billion, prompting accelerated share buybacks after a 70% stock decline.