Atlassian vs Miro: Revenue, Profit and Business Model
Atlassian reported $6.6B of revenue in FY2026 and a net loss of $53.8M. Miro reported $600M of revenue in FY2026 and — of net income.
Latest financial snapshot
Financial summary
Atlassian
Atlassian's fiscal 2026 revenue was $6.57 billion, up 26%, with Cloud at $4.41 billion (up 28%), Data Center at $1.83 billion (up 25%), and Marketplace and other at $330.7 million. Subscription annual recurring revenue reached $6.6 billion, up 23%. The company is still unprofitable under GAAP, but the gap is narrowing: the net loss fell to $53.8 million from $256.7 million, and GAAP operating income was positive for the first time, at $10.4 million. Stock-based compensation of $1.61 billion, 24% of revenue, is most of what separates that result from $1.32 billion of free cash flow. Research and development absorbed $3.27 billion, half of revenue, against $1.54 billion for marketing and sales. Cash and cash equivalents ended the year at $1.24 billion, after $1.23 billion of cash paid for the Browser Company and DX acquisitions and $1.81 billion of Class A share repurchases, against $989.6 million of long-term debt.
Miro
Miro is private and does not publish financial statements, so the most reliable figures come from deal disclosures. It raised $25 million in a 2018 Series A led by Accel, $50 million in a 2020 Series B led by ICONIQ Growth, and $400 million in a January 2022 Series C led by ICONIQ Growth at a $17.5 billion valuation. When Bending Spoons agreed to buy it on September 10, 2026, it said Miro had grown to around $600 million in ARR. The $1.355 billion enterprise value (about 2.3 times ARR, per Forbes) plus Miro's net cash implies an equity value of about $1.79 billion. Certain Miro shareholders agreed to reinvest $295 million of their proceeds in new Bending Spoons equity.
Revenue and profit by year
Atlassian
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2026 | $6.6B | -$53.8M | -0.8% | +26.0% | Source |
| FY2025 | $5.2B | -$256.7M | -4.9% | +19.7% | Source |
| FY2024 | $4.4B | -$300.5M | -6.9% | +23.3% | Source |
| FY2023 | $3.5B | -$486.8M | -13.8% | +26.1% | Source |
| FY2022 | $2.8B | -$519.5M | -18.5% | +34.2% | Source |
| FY2021 | $2.1B | -$579M | -27.7% | +29.4% | Source |
| FY2020 | $1.6B | -$350.7M | -21.7% | +33.4% | Source |
| FY2019 | $1.2B | -$637.6M | -52.7% | +38.5% | Source |
| FY2018 | $874M | -$113.4M | -13.0% | +41.0% | Source |
| FY2017 | $619.9M | -$37.4M | -6.0% | +35.6% | Source |
| FY2016 | $457.1M | $4.4M | 1.0% | — | Source |
Miro
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2026 | $600M | — | 0.0% | — | Source |
Where the revenue comes from
Atlassian
- Cloud subscriptions~67%
Per-user cloud subscriptions for Jira, Confluence, Jira Service Management, Trello, Bitbucket, Loom, and Rovo across Free, Standard, Premium, and Enterprise editions. Cloud revenue was $4.41 billion in fiscal 2026, up 28%, and reached $1.21 billion in the fourth quarter alone.
- Data Center subscriptions~28%
On-premises term licenses with bundled support for self-managed deployments of Jira, Confluence, and other products. Data Center revenue was $1.83 billion in fiscal 2026, up 25%, but Atlassian announced the end of life of the line in September 2025: no new customers from March 2026, no expansions for existing customers after March 2028, and no maintenance after March 2029.
- Marketplace and other~5%
Fees from third-party app sales through the Atlassian Marketplace, which carries more than 6,000 apps and integrations, plus premier support, advisory, and training services. Marketplace and other revenue was $330.7 million in fiscal 2026, up 10%.
Miro
- Business & Enterprise Subscriptions
~90% of ARR
Per-seat Business plans and annual Enterprise contracts with security, admin, data residency and support; nearly 90% of Miro's roughly $600M ARR in 2026.
- Starter & Self-Serve Team Plans
~10% of ARR (balance)
Monthly or annual card-paid subscriptions for small teams upgrading from the free plan.
Business model and strategy
Atlassian
How it makes money
Atlassian runs a land-and-expand B2B SaaS model. A small team, usually in engineering, adopts Jira, Confluence, Bitbucket, or Trello through a free edition or a self-service purchase. Because the tools connect to each other and to outside systems, use spreads to other departments such as IT, marketing, and HR.
Growth strategy
Atlassian's growth strategy has three parts. It pushes beyond engineering with Jira Service Management, aimed at the IT, HR, and customer-service desks that ServiceNow and Freshworks serve. It packages products into Collections, bundles sold around an outcome rather than per app, covering teamwork, software, service, and strategy.
Competitive advantage
Atlassian's moat is switching cost. Jira is often criticized for complexity, but it holds years of issue history, workflow configuration, and integrations with code repositories and CI systems, so replacing it means rebuilding how an engineering organization records its work.
Miro
How it makes money
Miro makes money from software subscriptions. Anyone can use a free plan with a limited number of editable boards; teams then pay per member for Starter and Business plans, and large organizations sign annual Enterprise contracts that add security controls, admin tools, data residency and support.
Growth strategy
After pandemic-era growth slowed, Miro focused on enterprise accounts, cost discipline and AI. It cut about 7% of staff (119 people) in January 2023 and about 275 roles in late 2024, repositioned itself as an 'AI Innovation Workspace', and pushed AI features such as AI-generated diagrams, summaries and canvas-based workflows.
Competitive advantage
Miro's edge is breadth of adoption and workflow depth. Because it is used across product, engineering, design, consulting and operations teams rather than one department, it tends to become the shared canvas for workshops, agile planning and diagramming.
Questions about Atlassian vs Miro
Which company has higher revenue — Atlassian Corporation or Miro (RealtimeBoard Inc.)?
Atlassian Corporation reported $6.6B (FY2026), while Miro (RealtimeBoard Inc.) reported $600.0M (FY2026). By last reported revenue, Atlassian Corporation is the larger business, with Miro (RealtimeBoard Inc.) reporting a smaller revenue base.
What is the market cap of Atlassian Corporation vs Miro (RealtimeBoard Inc.)?
Atlassian Corporation has a market capitalisation of $45.4B. A public market cap figure for Miro (RealtimeBoard Inc.) was not available (it may be privately held).
Which is more financially efficient — Atlassian Corporation or Miro (RealtimeBoard Inc.)?
Atlassian Corporation generates $494k / employee in revenue per employee, while Miro (RealtimeBoard Inc.) generates $375k / employee. Atlassian Corporation shows higher revenue efficiency per headcount, though this reflects business model differences — capital-light software companies routinely outperform labour-intensive manufacturers on this metric.
How do Atlassian Corporation and Miro (RealtimeBoard Inc.) make money?
Atlassian Corporation and Miro (RealtimeBoard Inc.) generate revenue in fundamentally different ways. Atlassian Corporation: Atlassian runs a land-and-expand B2B SaaS model. Miro (RealtimeBoard Inc.): Miro makes money from software subscriptions.
Is Atlassian Corporation bigger than Miro (RealtimeBoard Inc.)?
By last reported revenue, Atlassian Corporation ($6.6B (FY2026)) is the larger company compared to Miro (RealtimeBoard Inc.) ($600.0M (FY2026)). Revenue scale is one dimension of size — market capitalisation, employee count, and geographic reach are also relevant depending on the context.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Atlassian vs Miro overview