NET vs TEAM

Cloudflare positions itself as the infrastructure platform for an "Agentic Internet," highlighting agents as a new class of web users that drive serverless workloads to Cloudflare Workers and increased demand for the company's performance, security, and networking services. Management ties a record large ACV deal (averaging $42.5M/year) and nearly 50% new ACV growth to this AI/agent-driven demand. No branded Cloudflare AI products were announced, but the company emphasizes agent-focused use cases and edge/serverless execution. Financially, Q4 2025 revenue was $614.5M (up 33.6% YoY), non-GAAP income from operations was $89.6M, non-GAAP net income was $106.8M, and Q4 free cash flow was $99.4M. Cloudflare guided Q1 2026 revenue to $620.0–$621.0M and full-year 2026 revenue to $2,785.0–$2,795.0M, with non-GAAP EPS guidance of $0.23 for Q1 and $1.11–$1.12 for FY2026.

Atlassian highlights explicit AI strategy through its branded collections (Teamwork Collection, AI-powered Service Collection) and an AI-first product named Rovo (5M MAUs). Management ties AI investments to enterprise monetization and deeper customer commitments. Key AI signals: use of AI agents and an "AI-powered system of work" across marketing and service workflows. Financially, Q2 FY2026 total revenue was $1,586.3M (up 23% YoY), non-GAAP operating income $430.2M, non-GAAP net income $320.9M, non-GAAP gross margin 88%, and free cash flow $168.5M. Atlassian guides Q3 revenue of $1,689M–$1,697M and reiterates FY26 margin and growth targets. Management emphasizes enterprise sales, partner execution, and AI investments as drivers of momentum.