The AI-kills-work-tools bear case just reversed: Atlassian growth accelerated at $6.6B ARR
Atlassian entered Q4 as one of the most doubted names in software, priced near $84 because AI agents were supposed to make work-tracking tools obsolete. Instead cloud growth accelerated to 31% and RPO jumped 44%, sending the stock up 35% in a single session. So far, more agents means more tickets, branches and review work, not fewer. The real lesson: a beaten-down narrative can reverse as fast as a revenue curve.