TEAM Stock Rockets After-Hours: Why This Year’s Worst Nasdaq-100 Performer Is Staging A Dramatic Reversal

• Altassian's stock jumped 25% in overnight trading following the release of its results.
• Q3 revenue and adjusted profit exceeded expectations, signaling progress in the company’s turnaround efforts.
• Stocktwits sentiment for TEAM flipped to ‘extremely bullish’ from ‘bearish.’

Shares of Atlassian Corp. surged 25% in after-hours trading on Thursday after the workplace software maker beat expectations for third-quarter revenue and adjusted profit.

Atlassian has been one of the hardest-hit names in the software space – TEAM is the worst performer on the Nasdaq-100 this year, down 58% – but the upbeat report is rekindling investor interest and fueling hopes of a sharp rebound.

The maker of tools like Trello, Jira, and Confluence has aggressively pursued an AI-led transformation, cutting about 10% of its workforce to redirect spending toward AI and enterprise growth, while also making targeted acquisitions.

The company completed its $1 billion acquisition of developer productivity insight platform DX in January. In prior months, it announced deals to acquire The Browser Company and Secoda. 

In March, Atlassian announced that it was laying off about 1,600 workers. “We are doing this to self-fund further investment in AI and enterprise sales, while strengthening our financial profile,” CEO Mike Cannon-Brookes said at the time.

On Thursday, Cannon-Brookes said: “The momentum across our three strategic priorities of Enterprise, AI, and the System of Work continues to build, and I’m excited about the significant opportunity ahead to drive durable, profitable growth as we scale.”

TEAM Results Recap 

Revenue rose 31.7% to $1.79 billion from a year ago, beating analysts' expectations of $1.69 billion from LSEG/Reuters. Net loss increased to $98.4 million from $70.8 million a year ago. 

On an adjusted basis, profit increased to $1.75​​ per share from $0.97 a year ago, also higher than the Street target of $1.32 per share.

Atlassian forecasts fourth-quarter revenue in the range of $1.65 billion to $ 1.66 billion, which would mark 20% year-over-year growth.

Retail’s View On TEAM Turns Bullish

On Stocktwits, the retail sentiment for TEAM flipped ‘extremely bullish’ from ‘bearish,’ with message volume around the ticker jumping nearly 3,400% in the last 24 hours.

$TEAM CEO straight up saying AI is one of the best things that ever happened to Atlassian,” said a trader. 

“Bold framing. Most SaaS execs are still hedging on the AI question, scared of getting disrupted. He's leaning all the way in. Either he's right and the moat deepens, or he's whistling past the graveyard. No middle ground here.”

Another trader wrote: “$TEAM finally, its enough with this mothe attack against Saas, we need to go back

Traders broadly debated whether the latest performance marks a sustainable turnaround or merely a temporary relief rally amid ongoing concerns about AI-driven disruption in software.

For updates and corrections, email newsroom[at]stocktwits[dot]com.

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