Atlassian Integrates AI Platform Rovo With Microsoft Office 365 and Google Drive
Atlassian, the Australian enterprise software company, has integrated its AI platform Rovo with popular apps like Microsoft Office 365 and Google Drive. This move comes as Atlassian's revenue growth accelerated to 22% in the fiscal 2025 fourth quarter, with premium and enterprise plans growing by 40%.
Atlassian's operating costs grew by 20% in the fourth quarter, with research and development being the major expense. Despite this, the company reported a net loss of $23.9 million on a GAAP basis but was profitable by $259.1 million on a non-GAAP basis. Atlassian aims to grow its annual revenue to $10 billion by fiscal 2029, almost double the fiscal 2025 revenue, with an addressable market valued at around $67 billion.
Rovo includes AI-powered search and Rovo Agents for automating specific tasks across applications. Atlassian offers software products to boost productivity and encourage collaboration, with AI making these products more effective. The company is advancing its AI integration primarily through the acquisition of DX, a leading engineering intelligence provider, and expanding its partnership with Google Cloud to enhance AI-powered features on its cloud platform.
Atlassian's stock is bullish, with 28 out of 34 analysts tracked by The Wall Street Journal having a positive rating. The average price target implies a 50% potential upside. Currently, Atlassian's price-to-sales ratio is at 8.2, near the cheapest level since it went public in 2015.
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