Atlassian Corp ( TEAM ) reported financial results for the fiscal second quarter after the market close on Thursday. Here’s a look at the key details from the print.

Q2 Earnings: Atlassian ( TEAM ) reported second-quarter revenue of $1.29 billion, beating analyst estimates of $1.24 billion, according to Benzinga Pro. The company reported second-quarter adjusted earnings of 96 cents per share, beating analyst estimates of 76 cents per share.

Total revenue was up 21% year-over-year, while subscription revenue grew 30% year-over-year. Cash flow from operations came in at $352 million and free cash flow totaled $343 million in the second quarter.

Atlassian ( TEAM ) ended the quarter with $2.5 billion in cash, cash equivalents and marketable securities.

“The Atlassian System of Work is resonating with enterprises all over the globe, as business leaders increasingly turn to the Atlassian ( TEAM ) platform to help teams across their organization collaborate on the opportunities and challenges they face,” said Mike Cannon-Brookes, co-founder and CEO of Atlassian ( TEAM ).

“By infusing AI throughout our world-class cloud platform, we’re empowering all teams to accelerate collaboration and unlock organizational knowledge, further enabling them to unleash their full potential.”

Guidance: Atlassian ( TEAM ) expects third-quarter revenue to be in the range of $1.345 billion to $1.353 billion. Cloud revenue is expected to grow 23.5% in the third quarter, data center revenue is expected to grow 7% and marketplace and other revenue is expected to be approximately flat.

The company also raised its fiscal year 2025 revenue growth expectations to a range of 18.5% to 19%, up from a range of 16.5% to 17% at the end of the company’s fiscal first quarter.

Management will further discuss the quarter on a conference call with analysts and investors at 5 p.m. ET.

TEAM Price Action: Atlassian ( TEAM ) shares were up 16.13% after hours, trading at $310 at the time of publication Thursday, according to Benzinga Pro.

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