Atlassian: One Of The Biggest Casualties Of The SaaS-Pocalypse
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David Desjardins2.28K FollowersFollow5ShareSavePlay(12min)Comments(3)SummaryAtlassian has been one of the biggest casualties of what is now called the SaaS-pocalypse, and it is precisely why I decided to look into it.We are not even two months into 2026 and Atlassian's stock is already down by more than 50% on a year-to-date basis.Despite a share price under significant pressure, Atlassian reported its highest top-line growth in six quarters, which is something I was not expecting given current market sentiment.In my opinion, fears of AI-related disruption are now grossly overestimated, as I view Atlassian's platform as enabling enterprises to incorporate artificial intelligence in their workflows.Relative to other enterprise software companies I have previously covered, Atlassian has by far the largest share-based compensation expense, which is an additional drag on market sentiment. Sundry Photography/iStock Editorial via Getty Images The SaaS-Pocalypse Is Creating Opportunities Atlassian (TEAM) has been one of the biggest casualties of what is now called the SaaS-pocalypse, and it is precisely why I decided to look intoThis article was written byDavid Desjardins2.28K FollowersFollowFor almost a decade, I held research analyst positions in various investment firms, mostly in Toronto. I started in sell-side research with a Canadian bank, then moved to a hedge fund, followed by a family office and then finished my career in wealth management. I was 20 on my first day on Bay Street. I will forever remember. I had worked so hard to get there, from a small French-speaking town in Québec. Getting my CFA and CAIA designations by 25 was another important milestone. I was a young man with a dream, wanting to make it big. However, life was about to teach me a painful lesson. Before conquering the world, a man must first conquer himself by going into the depths of his own abyss. Only then may he shed his naivety and become a man truly able to love.For the last three years, I have been living in a yurt in the boreal forest, approximately 100 kilometres away from the closest paved road or grocery store. In a forest full of birds, just beside a lake full of fish. For water, I go to the creek. For heat, there is plenty of white birch and quaking aspen around. If I need anything in town, I have plenty of money for my needs. I am now 30 and as free as the birds in the skies, so what else can I ask for? In all humility, and in all gratitude, I say thank you to this grandiose symphony we call life.Analyst’s Disclosure: I/we have a beneficial long position in the shares of TEAM either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.