Sign In  |  Register  |  About Daly City  |  Contact Us

Daly City, CA
September 01, 2020 1:20pm
7-Day Forecast | Traffic
  • Search Hotels in Daly City

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

Atlassian Announces Fourth Quarter and Fiscal Year 2023 Results

Quarterly revenue of $939 million, up 24% year-over-year

Quarterly subscription revenue of $800 million, up 34% year-over-year

Quarterly GAAP operating margin of (5)% and non-GAAP operating margin of 22%

Quarterly cash flow from operations of $273 million and free cash flow of $270 million

Atlassian Corporation (NASDAQ: TEAM), a leading provider of team collaboration and productivity software, today announced financial results for its fourth quarter and fiscal year ended June 30, 2023 and released a shareholder letter available on Atlassian’s Work Life blog at http://atlassian.com/blog/announcements/shareholder-letter-q4fy23. The shareholder letter was also posted to the Investor Relations section of Atlassian’s website at https://investors.atlassian.com.

“We closed out a challenging year with strong momentum in cloud migrations, enterprise sales, and within the ITSM market, reinforcing our conviction in our strategy which has positioned us well for fiscal year 2024 and beyond,” said Scott Farquhar, Atlassian’s co-founder and co-CEO. “We generated over $3.5 billion in revenue this year, with more than 250,000 customers powering collaboration through our world-class cloud platform.”

“Our continued investment in R&D has ensured we’re able to deliver innovation that takes advantage of the next generation of AI,” said Mike Cannon-Brookes, Atlassian’s co-founder and co-CEO. “By leveraging the latest advancements in large language models, combined with each customer’s own data and two decades of our data-driven insights into how teams work, we’re able to help each of our customers unleash their potential.”

Fourth Quarter Fiscal Year 2023 Financial Highlights:

On a GAAP basis, Atlassian reported:

  • Revenue: Total revenue was $939.1 million for the fourth quarter of fiscal year 2023, up 24% from $759.8 million for the fourth quarter of fiscal year 2022.
  • Operating Loss and Operating Margin: Operating loss was $50.4 million for the fourth quarter of fiscal year 2023, compared with operating loss of $42.3 million for the fourth quarter of fiscal year 2022. Operating margin was (5)% for the fourth quarter of fiscal year 2023, compared with (6)% for the fourth quarter of fiscal year 2022.
  • Net Loss and Net Loss Per Diluted Share: Net loss was $59.0 million for the fourth quarter of fiscal year 2023, compared with net loss of $90.6 million for the fourth quarter of fiscal year 2022. Net loss per diluted share was $0.23 for the fourth quarter of fiscal year 2023, compared with net loss per diluted share of $0.36 for the fourth quarter of fiscal year 2022.
  • Balance Sheet: Cash and cash equivalents plus marketable securities at the end of the fourth quarter of fiscal year 2023 totaled $2.1 billion.

On a non-GAAP basis, Atlassian reported:

  • Operating Income and Operating Margin: Operating income was $202.8 million for the fourth quarter of fiscal year 2023, compared with operating income of $107.6 million for the fourth quarter of fiscal year 2022. Operating margin was 22% for the fourth quarter of fiscal year 2023, compared with 14% for the fourth quarter of fiscal year 2022.
  • Net Income and Net Income Per Diluted Share: Net income was $147.0 million for the fourth quarter of fiscal year 2023, compared with net income of $68.5 million for the fourth quarter of fiscal year 2022. Net income per diluted share was $0.57 for the fourth quarter of fiscal year 2023, compared with net income per diluted share of $0.27 for the fourth quarter of fiscal year 2022.
  • Free Cash Flow: Cash flow from operations was $272.8 million and free cash flow was $270.4 million for the fourth quarter of fiscal year 2023. Free cash flow margin for the fourth quarter of fiscal year 2023 was 29%.

Fiscal Year 2023 Financial Highlights:

On a GAAP basis, Atlassian reported:

  • Revenue: Total revenue was $3.5 billion for fiscal year 2023, up 26% from $2.8 billion for fiscal year 2022.
  • Operating Income (Loss) and Operating Margin: Operating loss was $345.2 million for fiscal year 2023, compared with operating income of $70.1 million for fiscal year 2022. Operating margin was (10)% for fiscal year 2023, compared with 3% for fiscal year 2022.
  • Net Loss and Net Loss Per Diluted Share: Net loss was $486.8 million for fiscal year 2023, compared with net loss of $519.5 million for fiscal year 2022. Net loss per diluted share was $1.90 for fiscal year 2023, compared with net loss per diluted share of $2.05 for fiscal year 2022.

On a non-GAAP basis, Atlassian reported:

  • Operating Income and Operating Margin: Operating income was $722.6 million for fiscal year 2023, compared with operating income of $627.3 million for fiscal year 2022. Operating margin was 20% for fiscal year 2023, compared with 22% for fiscal year 2022.
  • Net Income and Net Income Per Diluted Share: Net income was $492.3 million for fiscal year 2023, compared with net income of $383.5 million for fiscal year 2022. Net income per diluted share was $1.92 for fiscal year 2023, compared with net income per diluted share of $1.50 for fiscal year 2022.
  • Free Cash Flow: Cash flow from operations was $868.1 million and free cash flow was $842.5 million for fiscal year 2023. Free cash flow margin for fiscal year 2023 was 24%.

A reconciliation of GAAP to non-GAAP financial measures has been provided in the financial statement tables included in this press release. An explanation of these measures is also included below, under the heading “About Non-GAAP Financial Measures.”

Recent Business Highlights:

  • A Leader in the 2023 Gartner® Magic Quadrant™ for DevOps Platforms: Atlassian was named a Leader in the 2023 Gartner Magic Quadrant for DevOps Platforms1. Atlassian provides a single, extensible DevOps platform, powered by Jira Software, that connects engineering, ITOps, and business teams to accelerate engineering velocity, improve application health, increase reliability, and deliver value faster. Today, Jira Software powers workflows at nearly 125,000 customers.
  • Recognized in The Forrester Wave™: Integrated Software Delivery Platforms: Atlassian was recognized as a Strong Performer in The Forrester Wave™: Integrated Software Delivery Platforms, Q2, 2023. Atlassian’s Open DevOps solutions enable teams to create and manage software using both Atlassian and other partner tools that development teams choose to use. The features of products like Jira Software and Confluence, along with the capability to integrate with other products, provide an enhanced developer experience.
  • Security Tab in Jira Software: Atlassian introduced new security integration capabilities in Jira Software Cloud, bringing security vendors together into one place to help organizations better prioritize security. In partnership with Snyk, Mend, Lacework, StackHawk, and JFrog, the Security tab in Jira Software brings DevSecOps practices into software development allowing teams to address security issues earlier and more effectively.
  • Jira Product Discovery: Atlassian released Jira Product Discovery into general availability. Jira Product Discovery is a dedicated tool for product teams to capture and prioritize ideas, connect business and tech teams, and align everyone across the product journey. Built on the Jira platform, Jira Product Discovery empowers product teams to collaborate behind a shared vision without the need to switch tools.
  • Data Residency in Singapore: Atlassian announced added support for Singapore as a new data residency region available to customers. Atlassian now offers customers the ability to store data in the U.S.A., EU, Australia, Germany, and Singapore. Data residency allows customers flexibility and control to design the data strategy that makes the most sense for them.
  • Enterprise Momentum: The number of Atlassian customers who spend more than $1 million annually grew by 52% year-over-year, underscoring Atlassian’s momentum in serving enterprise customers while maintaining its uniquely efficient go-to-market model.

CRO departure:

Atlassian announced that its Chief Revenue Officer, Cameron Deatsch, will leave Atlassian at the end of December 2023. Cameron joined Atlassian almost 11 years ago, and during that time has built out its customer-facing teams, served as Head of Server & Data Center product teams, and led Atlassian’s go-to-market functions as Chief Revenue Officer over the past three years. Cameron will leave behind a team that has helped shape one of the most unique enterprise software business models with a customer-oriented flywheel built for scale, complemented by higher-touch motions to deepen relationships with enterprise customers.

“Cameron has made an immeasurable contribution to the business,” said Scott Farquhar. “His impact is widespread and will live on through the teams and leaders he’s developed, the customer obsession he’s championed, and the culture he’s instilled. Mike and I thank him for an incredible decade, and wish him the very best.”

“The opportunity ahead for Atlassian is massive,” said Deatsch. “While I’m ready to dial back after 11 years of charging ahead, this company is still just getting started.”

Financial Targets:

Atlassian is providing its financial targets as follows:

First Quarter Fiscal Year 2024:

  • Total revenue is expected to be in the range of $950 million to $970 million.
  • Cloud revenue growth year-over-year is expected to be in the range of 25% to 27%.
  • Gross margin is expected to be approximately 81.0% on a GAAP basis and approximately 83.5% on a non-GAAP basis.
  • Operating margin is expected to be approximately (8.5%) on a GAAP basis and approximately 19.5% on a non-GAAP basis.

Fiscal Year 2024:

  • Cloud revenue growth year-over-year is expected to be in the range of 25% to 30%.
  • Gross margin is expected to be approximately 81.0% on a GAAP basis and approximately 83.5% on a non-GAAP basis.
  • Operating margin is expected to be approximately (8.0%) on a GAAP basis and approximately 18.5% on a non-GAAP basis

For additional commentary regarding financial targets, please see Atlassian’s fourth quarter fiscal year 2023 shareholder letter dated August 3, 2023.

With respect to Atlassian’s expectations under “Financial Targets” above, a reconciliation of GAAP to non-GAAP gross margin and operating margin has been provided in the financial statement tables included in this press release.

Shareholder Letter and Webcast Details:

A detailed shareholder letter is available on Atlassian’s Work Life blog at https://atlassian.com/blog/announcements/shareholder-letter-q4fy23, and the Investor Relations section of Atlassian’s website at https://investors.atlassian.com. Atlassian will host a webcast to answer questions today:

  • When: Thursday, August 3, 2023 at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time).
  • Webcast: A live webcast of the call can be accessed from the Investor Relations section of Atlassian’s website at https://investors.atlassian.com. Following the call, a replay will be available on the same website.

Atlassian has used, and will continue to use, its Investor Relations website at https://investors.atlassian.com as a means of making material information public and for complying with its disclosure obligations.

____________________

1 Gartner, Magic Quadrant for DevOps Platforms, Manjunath Bhat, Thomas Murphy, Joachim Herschmann, et al, 5 June 2023. Gartner Disclaimer - Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner research organization and should not be construed as statements of fact. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose. GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally, and MAGIC QUADRANT is a registered trademark of Gartner, Inc. and/or its affiliates and are used herein with permission. All rights reserved.

About Atlassian

Atlassian unleashes the potential of every team. Our agile & DevOps, IT service management and work management software helps teams organize, discuss, and complete shared work. The majority of the Fortune 500 and over 260,000 companies of all sizes worldwide - including NASA, Kiva, Deutsche Bank, and Salesforce - rely on our solutions to help their teams work better together and deliver quality results on time. Learn more about our products, including Jira Software, Confluence, Jira Service Management, Trello, Bitbucket, and Jira Align at https://atlassian.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, which statements involve substantial risks and uncertainties. In some cases, you can identify these statements by forward-looking words such as “may,” “will,” “expect,” “believe,” “anticipate,” “intend,” “could,” “should,” “estimate,” or “continue,” and similar expressions or variations, but these words are not the exclusive means for identifying such statements. All statements other than statements of historical fact could be deemed forward looking, including risks and uncertainties related to statements about our products, product features, including AI and large language models, customers, cloud migration, macroeconomic environment, anticipated growth, outlook, technology and other key strategic areas, and our financial targets such as total revenue and cloud revenue and GAAP and non-GAAP financial measures including gross margin and operating margin.

We undertake no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law.

The achievement or success of the matters covered by such forward-looking statements involves known and unknown risks, uncertainties and assumptions. If any such risks or uncertainties materialize or if any of the assumptions prove incorrect, our results could differ materially from the results expressed or implied by the forward-looking statements we make. You should not rely upon forward-looking statements as predictions of future events. Forward-looking statements represent our management’s beliefs and assumptions only as of the date such statements are made.

Further information on these and other factors that could affect our financial results is included in filings we make with the Securities and Exchange Commission (the “SEC”) from time to time, including the section titled “Risk Factors” in our most recently filed Forms 20-F and 10-Q. These documents are available on the SEC Filings section of the Investor Relations section of our website at https://investors.atlassian.com.

About Non-GAAP Financial Measures

In addition to the measures presented in our consolidated financial statements, we regularly review other measures that are not presented in accordance with GAAP, defined as non-GAAP financial measures by the SEC, to evaluate our business, measure our performance, identify trends, prepare financial forecasts and make strategic decisions. The key measures we consider are non-GAAP gross profit, non-GAAP operating income and non-GAAP operating margin, non-GAAP net income, non-GAAP net income per diluted share and free cash flow (collectively, the “Non-GAAP Financial Measures”). These Non-GAAP Financial Measures, which may be different from similarly titled non-GAAP measures used by other companies, provide supplemental information regarding our operating performance on a non-GAAP basis that excludes certain gains, losses and charges of a non-cash nature or that occur relatively infrequently and/or that management considers to be unrelated to our core operations. Management believes that tracking and presenting these Non-GAAP Financial Measures provides management, our board of directors, investors and the analyst community with the ability to better evaluate matters such as: our ongoing core operations, including comparisons between periods and against other companies in our industry; our ability to generate cash to service our debt and fund our operations; and the underlying business trends that are affecting our performance.

Our Non-GAAP Financial Measures include:

  • Non-GAAP gross profit. Excludes expenses related to stock-based compensation, amortization of acquired intangible assets, and restructuring charges.
  • Non-GAAP operating income and non-GAAP operating margin. Excludes expenses related to stock-based compensation, amortization of acquired intangible assets, and restructuring charges.
  • Non-GAAP net income and non-GAAP net income per diluted share. Excludes expenses related to stock-based compensation, amortization of acquired intangible assets, restructuring charges, non-coupon impact related to exchangeable senior notes and capped calls, gain on a non-cash sale of a controlling interest of a subsidiary and the related income tax effects on these items, and a non-recurring income tax adjustment.
  • Free cash flow. Free cash flow is defined as net cash provided by operating activities less capital expenditures, which consists of purchases of property and equipment.

We understand that although these Non-GAAP Financial Measures are frequently used by investors and the analyst community in their evaluation of our financial performance, these measures have limitations as analytical tools, and you should not consider them in isolation or as substitutes for analysis of our results as reported under GAAP. We compensate for such limitations by reconciling these Non-GAAP Financial Measures to the most comparable GAAP financial measures. We encourage you to review the tables in this press release titled “Reconciliation of GAAP to Non-GAAP Results” and “Reconciliation of GAAP to Non-GAAP Financial Targets” that present such reconciliations.

Atlassian Corporation

Consolidated Statements of Operations

(U.S. $ and shares in thousands, except per share data)

(unaudited)

 

 

Three Months Ended June 30,

 

Fiscal Year Ended June 30,

 

 

2023

 

 

 

2022

 

 

 

2023

 

 

 

2022

 

Revenues:

 

 

 

 

 

 

 

Subscription

$

799,713

 

 

$

597,297

 

 

$

2,922,576

 

 

$

2,096,706

 

Maintenance

 

85,925

 

 

 

117,095

 

 

 

399,738

 

 

 

495,077

 

Other

 

53,460

 

 

 

45,449

 

 

 

212,333

 

 

 

211,099

 

Total revenues

 

939,098

 

 

 

759,841

 

 

 

3,534,647

 

 

 

2,802,882

 

Cost of revenues (1) (2)

 

169,776

 

 

 

130,404

 

 

 

633,765

 

 

 

452,914

 

Gross profit

 

769,322

 

 

 

629,437

 

 

 

2,900,882

 

 

 

2,349,968

 

Operating expenses:

 

 

 

 

 

 

 

Research and development (1) (2)

 

474,855

 

 

 

367,007

 

 

 

1,869,881

 

 

 

1,291,877

 

Marketing and sales (1) (2)

 

202,621

 

 

 

173,054

 

 

 

769,861

 

 

 

535,815

 

General and administrative (1)

 

142,235

 

 

 

131,709

 

 

 

606,362

 

 

 

452,193

 

Total operating expenses

 

819,711

 

 

 

671,770

 

 

 

3,246,104

 

 

 

2,279,885

 

Operating income (loss)

 

(50,389

)

 

 

(42,333

)

 

 

(345,222

)

 

 

70,083

 

Other income (expense), net

 

(7,096

)

 

 

(608

)

 

 

14,501

 

 

 

(501,839

)

Interest income

 

20,579

 

 

 

1,328

 

 

 

49,732

 

 

 

2,284

 

Interest expense

 

(8,540

)

 

 

(4,767

)

 

 

(30,147

)

 

 

(41,466

)

Loss before provision for income taxes

 

(45,446

)

 

 

(46,380

)

 

 

(311,136

)

 

 

(470,938

)

Provision for income taxes

 

(13,506

)

 

 

(44,259

)

 

 

(175,625

)

 

 

(48,572

)

Net loss

$

(58,952

)

 

$

(90,639

)

 

$

(486,761

)

 

$

(519,510

)

Net loss per share attributable to Class A and Class B common stockholders:

 

 

 

 

 

 

 

Basic

$

(0.23

)

 

$

(0.36

)

 

$

(1.90

)

 

$

(2.05

)

Diluted

$

(0.23

)

 

$

(0.36

)

 

$

(1.90

)

 

$

(2.05

)

Weighted-average shares used in computing net loss per share attributable to Class A and Class B common stockholders:

 

 

 

 

 

 

 

Basic

 

257,389

 

 

 

254,482

 

 

 

256,307

 

 

 

253,312

 

Diluted

 

257,389

 

 

 

254,482

 

 

 

256,307

 

 

 

253,312

 

 

(1) Amounts include stock-based compensation as follows:

 

Three Months Ended June 30,

 

 

Fiscal Year Ended June 30,

 

 

2023

 

 

 

2022

 

 

 

2023

 

 

 

2022

Cost of revenues

$

17,166

 

$

8,719

 

$

63,913

 

$

31,358

Research and development

 

156,836

 

 

89,798

 

 

604,301

 

 

328,978

Marketing and sales

 

33,817

 

 

19,789

 

 

131,739

 

 

76,209

General and administrative

 

37,425

 

 

23,368

 

 

148,134

 

 

88,258

 

(2) Amounts include amortization of acquired intangible assets, as follows:

 

Three Months Ended June 30,

 

 

Fiscal Year Ended June 30,

 

 

2023

 

 

 

2022

 

 

 

2023

 

 

 

2022

Cost of revenues

$

5,763

 

$

5,697

 

$

22,853

 

$

22,694

Research and development

 

93

 

 

93

 

 

374

 

 

374

Marketing and sales

 

2,524

 

 

2,491

 

 

9,900

 

 

9,330

 

Atlassian Corporation

Consolidated Balance Sheets

(U.S. $ in thousands)

(unaudited)

 

 

June 30, 2023

 

June 30, 2022

Assets

 

 

 

Current assets:

 

 

 

Cash and cash equivalents

$

2,102,550

 

 

$

1,385,265

 

Marketable securities

 

10,000

 

 

 

73,294

 

Accounts receivable, net

 

477,678

 

 

 

308,127

 

Assets held for sale

 

 

 

 

60,265

 

Prepaid expenses and other current assets

 

146,136

 

 

 

70,002

 

Total current assets

 

2,736,364

 

 

 

1,896,953

 

Non-current assets:

 

 

 

Property and equipment, net

 

81,402

 

 

 

100,662

 

Operating lease right-of-use assets

 

184,195

 

 

 

277,276

 

Strategic investments

 

225,538

 

 

 

159,064

 

Intangible assets, net

 

69,072

 

 

 

100,840

 

Goodwill

 

727,211

 

 

 

722,838

 

Deferred tax assets

 

9,945

 

 

 

10,335

 

Other non-current assets

 

73,052

 

 

 

58,862

 

Total assets

$

4,106,779

 

 

$

3,326,830

 

Liabilities and Stockholders’ Equity

 

 

 

Current liabilities:

 

 

 

Accounts payable

$

159,293

 

 

$

81,220

 

Accrued expenses and other current liabilities

 

423,131

 

 

 

406,139

 

Deferred revenue, current portion

 

1,362,736

 

 

 

1,066,059

 

Operating lease liabilities, current portion

 

44,930

 

 

 

40,638

 

Term loan facility, current portion

 

37,500

 

 

 

 

Total current liabilities

 

2,027,590

 

 

 

1,594,056

 

Non-current liabilities:

 

 

 

Deferred revenue, net of current portion

 

182,743

 

 

 

116,621

 

Operating lease liabilities, net of current portion

 

237,835

 

 

 

274,434

 

Term loan facility, net of current portion

 

962,093

 

 

 

999,419

 

Deferred tax liabilities

 

10,669

 

 

 

312

 

Other non-current liabilities

 

31,177

 

 

 

14,616

 

Total liabilities

 

3,452,107

 

 

 

2,999,458

 

Stockholders’ equity

 

 

 

Common stock

 

3

 

 

 

2

 

Additional paid-in capital

 

3,130,631

 

 

 

2,182,536

 

Accumulated other comprehensive income

 

34,002

 

 

 

13,864

 

Accumulated deficit

 

(2,509,964

)

 

 

(1,869,030

)

Total stockholders’ equity

 

654,672

 

 

 

327,372

 

Total liabilities and stockholders’ equity

$

4,106,779

 

 

$

3,326,830

 

 

Atlassian Corporation

Consolidated Statements of Cash Flows

(U.S. $ in thousands)

(unaudited)

 

 

Three Months Ended June 30,

 

Fiscal Year Ended June 30,

 

 

2023

 

 

 

2022

 

 

 

2023

 

 

 

2022

 

Cash flows from operating activities:

 

 

 

 

 

 

 

Net loss

$

(58,952

)

 

$

(90,639

)

 

$

(486,761

)

 

$

(519,510

)

Adjustments to reconcile net loss to net cash provided by operating activities:

 

 

 

 

 

 

 

Depreciation and amortization

 

15,304

 

 

 

13,898

 

 

 

60,923

 

 

 

51,739

 

Stock-based compensation

 

245,244

 

 

 

141,674

 

 

 

948,087

 

 

 

524,803

 

Impairment charges for leases and leasehold improvements

 

 

 

 

 

 

 

61,098

 

 

 

 

Deferred income taxes

 

4,305

 

 

 

918

 

 

 

10,613

 

 

 

(2,002

)

Net loss on exchange derivative and capped call transactions

 

 

 

 

 

 

 

 

 

 

424,482

 

Amortization of debt discount and issuance cost

 

118

 

 

 

118

 

 

 

471

 

 

 

27,051

 

Net loss on strategic investments

 

2,143

 

 

 

441

 

 

 

19,407

 

 

 

72,663

 

Net foreign currency gain

 

(4,608

)

 

 

(4,032

)

 

 

(10,613

)

 

 

(12,065

)

Gain on a non-cash sale of a controlling interest of a subsidiary

 

 

 

 

 

 

 

(45,158

)

 

 

 

Other

 

230

 

 

 

870

 

 

 

1,488

 

 

 

646

 

Changes in operating assets and liabilities:

 

 

 

 

 

 

 

Accounts receivable, net

 

(131,495

)

 

 

(51,581

)

 

 

(169,526

)

 

 

(134,764

)

Prepaid expenses and other assets

 

2,300

 

 

 

14,528

 

 

 

(38,230

)

 

 

(21,927

)

Accounts payable

 

56,868

 

 

 

6,086

 

 

 

78,902

 

 

 

31,741

 

Accrued expenses and other liabilities

 

(6,444

)

 

 

92,004

 

 

 

74,611

 

 

 

93,250

 

Deferred revenue

 

147,762

 

 

 

90,594

 

 

 

362,799

 

 

 

284,937

 

Net cash provided by operating activities

 

272,775

 

 

 

214,879

 

 

 

868,111

 

 

 

821,044

 

Cash flows from investing activities:

 

 

 

 

 

 

 

Business combinations, net of cash acquired

 

(5,175

)

 

 

(2,550

)

 

 

(5,775

)

 

 

(19,411

)

Purchases of intangible assets

 

(160

)

 

 

 

 

 

(160

)

 

 

(4,018

)

Purchases of property and equipment

 

(2,425

)

 

 

(24,648

)

 

 

(25,652

)

 

 

(70,583

)

Purchases of strategic investments

 

(1,000

)

 

 

(8,750

)

 

 

(19,450

)

 

 

(111,668

)

Purchases of marketable securities and other investments

 

(14,800

)

 

 

 

 

 

(24,800

)

 

 

(21,003

)

Proceeds from maturities of marketable securities

 

 

 

 

12,850

 

 

 

73,950

 

 

 

76,937

 

Proceeds from sales of marketable securities and strategic investments

 

 

 

 

 

 

 

629

 

 

 

186,262

 

Net cash provided by (used in) investing activities

 

(23,560

)

 

 

(23,098

)

 

 

(1,258

)

 

 

36,516

 

Cash flows from financing activities:

 

 

 

 

 

 

 

Proceeds from term loan facility

 

 

 

 

 

 

 

 

 

 

1,000,000

 

Repayment of exchangeable senior notes

 

 

 

 

 

 

 

 

 

 

(1,548,686

)

Proceeds from settlement of capped call transactions

 

 

 

 

 

 

 

 

 

 

135,497

 

Repurchases of Class A Common Stock

 

(118,258

)

 

 

 

 

 

(150,006

)

 

 

 

Proceeds from other financing arrangements

 

187

 

 

 

4,379

 

 

 

1,585

 

 

 

13,909

 

Net cash provided by (used in) financing activities

 

(118,071

)

 

 

4,379

 

 

 

(148,421

)

 

 

(399,280

)

Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash

 

(809

)

 

 

(6,595

)

 

 

(1,805

)

 

 

(9,233

)

Net increase in cash, cash equivalents, and restricted cash

 

130,335

 

 

 

189,565

 

 

 

716,627

 

 

 

449,047

 

Cash, cash equivalents, and restricted cash at beginning of period

 

1,973,580

 

 

 

1,195,465

 

 

 

1,386,686

 

 

 

931,023

 

Net decrease in cash and cash equivalents included in assets held for sale

 

 

 

 

1,656

 

 

 

602

 

 

 

6,616

 

Cash, cash equivalents, and restricted cash at end of period

$

2,103,915

 

 

$

1,386,686

 

 

$

2,103,915

 

 

$

1,386,686

 

 

Atlassian Corporation

Revenues by Deployment Options

(U.S. $ in thousands)

(unaudited)

 

 

Three Months Ended June 30,

 

 

Fiscal Year Ended June 30,

 

 

2023

 

 

 

2022

 

 

 

2023

 

 

 

2022

Cloud

$

563,229

 

$

433,969

 

$

2,085,498

 

$

1,515,424

Data Center

 

232,208

 

 

158,921

 

 

819,251

 

 

560,319

Server (1)

 

86,149

 

 

117,629

 

 

400,519

 

 

525,028

Marketplace and services (2)

 

57,512

 

 

49,322

 

 

229,379

 

 

202,111

Total revenues

$

939,098

 

$

759,841

 

$

3,534,647

 

$

2,802,882

 

(1) Included in Server is perpetual license revenue. Perpetual license revenue is captured as other revenue on the Consolidated Statements of Operations.

(2) Included in Marketplace and services is premier support revenue. Premier support is a subscription-based arrangement for a higher level of support across different deployment options. Premier support is recognized as subscription revenue on the Consolidated Statements of Operations as the services are delivered over the term of the arrangement.

Atlassian Corporation

Reconciliation of GAAP to Non-GAAP Results

(U.S. $ and shares in thousands, except percentage and per share data)

(unaudited)

 

 

Three Months Ended June 30,

 

Fiscal Year Ended June 30,

 

 

2023

 

 

 

2022

 

 

 

2023

 

 

 

2022

 

Gross profit

 

 

 

 

 

 

 

GAAP gross profit

$

769,322

 

 

$

629,437

 

 

$

2,900,882

 

 

$

2,349,968

 

Plus: Stock-based compensation

 

17,166

 

 

 

8,719

 

 

 

63,625

 

 

 

31,358

 

Plus: Amortization of acquired intangible assets

 

5,763

 

 

 

5,697

 

 

 

22,853

 

 

 

22,694

 

Plus (less): Restructuring charges (1)

 

(55

)

 

 

 

 

 

9,192

 

 

 

 

Non-GAAP gross profit

$

792,196

 

 

$

643,853

 

 

$

2,996,552

 

 

$

2,404,020

 

Operating income

 

 

 

 

 

 

 

GAAP operating income (loss)

$

(50,389

)

 

$

(42,333

)

 

$

(345,222

)

 

$

70,083

 

Plus: Stock-based compensation

 

245,718

 

 

 

141,674

 

 

 

937,812

 

 

 

524,803

 

Plus: Amortization of acquired intangible assets

 

8,380

 

 

 

8,281

 

 

 

33,127

 

 

 

32,398

 

Plus (less): Restructuring charges (1)

 

(954

)

 

 

 

 

 

96,894

 

 

 

 

Non-GAAP operating income

$

202,755

 

 

$

107,622

 

 

$

722,611

 

 

$

627,284

 

Operating margin

 

 

 

 

 

 

 

GAAP operating margin

 

(5

)%

 

 

(6

)%

 

 

(10

)%

 

 

3

%

Plus: Stock-based compensation

 

26

 

 

 

19

 

 

 

26

 

 

 

18

 

Plus: Amortization of acquired intangible assets

 

1

 

 

 

1

 

 

 

1

 

 

 

1

 

Plus (less): Restructuring charges (1)

 

 

 

 

 

 

 

3

 

 

 

 

Non-GAAP operating margin

 

22

%

 

 

14

%

 

 

20

%

 

 

22

%

Net income

 

 

 

 

 

 

 

GAAP net loss

$

(58,952

)

 

$

(90,639

)

 

$

(486,761

)

 

$

(519,510

)

Plus: Stock-based compensation

 

245,718

 

 

 

141,674

 

 

 

937,812

 

 

 

524,803

 

Plus: Amortization of acquired intangible assets

 

8,380

 

 

 

8,281

 

 

 

33,127

 

 

 

32,398

 

Plus (less): Restructuring charges (1)

 

(954

)

 

 

 

 

 

96,894

 

 

 

 

Plus: Non-coupon impact related to exchangeable senior notes and capped calls

 

 

 

 

 

 

 

 

 

 

450,829

 

Less: Gain on a non-cash sale of a controlling interest of a subsidiary

 

 

 

 

 

 

 

(45,158

)

 

 

 

Plus (less): Income tax adjustments

 

(47,172

)

 

 

9,136

 

 

 

(43,659

)

 

 

(105,064

)

Non-GAAP net income

$

147,020

 

 

$

68,452

 

 

$

492,255

 

 

$

383,456

 

Net income per share

 

 

 

 

 

 

 

GAAP net loss per share - diluted

$

(0.23

)

 

$

(0.36

)

 

$

(1.90

)

 

$

(2.05

)

Plus: Stock-based compensation

 

0.95

 

 

 

0.56

 

 

 

3.66

 

 

 

2.05

 

Plus: Amortization of acquired intangible assets

 

0.03

 

 

 

0.03

 

 

 

0.13

 

 

 

0.13

 

Plus (less): Restructuring charges (1)

 

 

 

 

 

 

 

0.38

 

 

 

 

Plus: Non-coupon impact related to exchangeable senior notes and capped calls

 

 

 

 

 

 

 

 

 

 

1.78

 

Less: Gain on a non-cash sale of a controlling interest of a subsidiary

 

 

 

 

 

 

 

(0.18

)

 

 

 

Plus (less): Income tax adjustments

 

(0.18

)

 

 

0.04

 

 

 

(0.17

)

 

 

(0.41

)

Non-GAAP net income per share - diluted

$

0.57

 

 

$

0.27

 

 

$

1.92

 

 

$

1.50

 

Weighted-average diluted shares outstanding

 

 

 

 

 

 

 

Weighted-average shares used in computing diluted GAAP net loss per share

 

257,389

 

 

 

254,482

 

 

 

256,307

 

 

 

253,312

 

Plus: Dilution from dilutive securities (2)

 

447

 

 

 

1,006

 

 

 

554

 

 

 

2,345

 

Weighted-average shares used in computing diluted non-GAAP net income per share

 

257,836

 

 

 

255,488

 

 

 

256,861

 

 

 

255,657

 

Free cash flow

 

 

 

 

 

 

 

GAAP net cash provided by operating activities

$

272,775

 

 

$

214,879

 

 

$

868,111

 

 

$

821,044

 

Less: Capital expenditures

 

(2,425

)

 

 

(24,648

)

 

 

(25,652

)

 

 

(70,583

)

Free cash flow

$

270,350

 

 

$

190,231

 

 

$

842,459

 

 

$

750,461

 

 

(1) Restructuring charges include stock-based compensation expense related to the rebalancing of resources for the three months and fiscal year ended June 30, 2023.

(2) The effects of these dilutive securities were not included in the GAAP calculation of diluted net loss per share for the three months and fiscal years ended June 30, 2023 and 2022 because the effect would have been anti-dilutive.

Atlassian Corporation

Reconciliation of GAAP to Non-GAAP Financial Targets

 

 

Three Months Ending

September 30, 2023

 

Fiscal Year Ending

June 30, 2024

GAAP gross margin

81.0

%

 

81.0

%

Plus: Stock-based compensation

2.0

 

 

2.0

 

Plus: Amortization of acquired intangible assets

0.5

 

 

0.5

 

Non-GAAP gross margin

83.5

%

 

83.5

%

 

 

 

 

GAAP operating margin

(8.5

%)

 

(8.0

%)

Plus: Stock-based compensation

27.0

 

 

26.0

 

Plus: Amortization of acquired intangible assets

1.0

 

 

0.5

 

Non-GAAP operating margin

19.5

%

 

18.5

%

 

Contacts

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Copyright © 2010-2020 DalyCity.com & California Media Partners, LLC. All rights reserved.