Atlassian Corporation PLC shares surged 26.85% in after-hours trading on Thursday after the company reported fiscal fourth-quarter results that decisively beat analyst expectations and announced a significant share purchase plan by its CEO.

The collaboration software company posted adjusted earnings per share of $1.87, surpassing the consensus estimate of $1.50 by 24.67%. Revenue climbed 28% year-over-year to $1.766 billion, well above the $1.660 billion analyst forecast. Cloud revenue was a standout, rising 31%, driven by accelerating enterprise adoption of AI-powered collaboration tools. Remaining performance obligations surged 44% to $4.82 billion, signaling deepening enterprise commitments.

In a separate disclosure, CEO Mike Cannon-Brookes announced plans to purchase up to $250 million in Atlassian shares, further bolstering investor sentiment. Looking ahead, the company provided fiscal 2027 guidance, including total revenue growth of approximately 13% and cloud revenue growth of around 25.5%, with a gross margin expected at about 84.5%.