Markets· August 17, 2026 at 10:13 a.m.
Enterprise Software Demand Remains Strong Despite Tech Fears: Atlassian and Cloudflare Beat Earnings Expectations
Key takeaways
- Atlassian Corporation (NASDAQ:TEAM) delivered strong Q4 results with RPO increasing 44% YoY
- Cloudflare, Inc. (NYSE:NET) reported a record-breaking Q2 with revenue growth of 36%
- Atlassian experienced a drop in smart-money backing, while Cloudflare saw significant institutional accumulation
After a series of mixed-to-poor tech earnings raised concerns about AI disruption and slowing enterprise software demand, dubbed the 'SaaSpocalypse' on Wall Street, Atlassian Corporation (NASDAQ:TEAM) and Cloudflare, Inc. (NYSE:NET) offered a reassuring counterpoint with strong fiscal Q4 results. Atlassian delivered adjusted EPS of $1.87, beating the average expectations of $1.50, while Cloudflare reported second-quarter revenue of $696.1 million, a 36% YoY increase.
