BusinessWire

Atlassian Announces Fourth Quarter and Fiscal Year 2020 Results

Quarterly revenue of $430.5 million, up 29% year-over-year

Quarterly IFRS operating margin of (1)% and non-IFRS operating margin of 19%

Quarterly cash flow from operations of $123.3 million and free cash flow of $95.7 million

SAN FRANCISCO--(BUSINESS WIRE)--Atlassian Corporation Plc (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, 2020 and released a shareholder letter on the Investor Relations section of its website at https://investors.atlassian.com.


We drove strong results in fiscal year 2020, generating $1.6 billion in revenue, up 33% from the prior year,” said Scott Farquhar, Atlassian’s co-founder and co-CEO. “We now serve over 174,000 customers, including more than 150,000 using our cloud products, and made significant progress in transforming Atlassian into a cloud-first global software leader.”

Today, we are thrilled to announce the acquisition of Mindville, strengthening our IT market position,” said Mike Cannon-Brookes, Atlassian’s co-founder and co-CEO. “Mindville and our recent acquisition of Halp bolster our growing ITSM portfolio and work management offerings for non-technical teams.”

Fourth Quarter Fiscal Year 2020 Financial Highlights:

On an IFRS basis, Atlassian reported:

  • Revenue: Total revenue was $430.5 million for the fourth quarter of fiscal 2020, up 29% from $334.6 million for the fourth quarter of fiscal 2019.
  • Operating Loss and Operating Margin: Operating loss was $3.3 million for the fourth quarter of fiscal 2020, compared with an operating loss of $32.4 million for the fourth quarter of fiscal 2019. Operating margin was (1)% for the fourth quarter of fiscal 2020, compared with (10)% for the fourth quarter of fiscal 2019.
  • Net Loss and Net Loss Per Diluted Share: Net loss was $385.2 million for the fourth quarter of fiscal 2020, compared with a net loss of $237.5 million for the fourth quarter of fiscal 2019. Net loss per diluted share was $1.56 for the fourth quarter of fiscal 2020, compared with a net loss per diluted share of $0.99 for the fourth quarter of fiscal 2019.

Net loss for the fourth quarter of fiscal 2020 included a non-cash charge recorded in “other non-operating expense, net” of $382.7 million, compared with a non-cash charge of $156.3 million in the fourth quarter of fiscal 2019, as a result of marking to fair value the exchange feature of Atlassian’s exchangeable senior notes and related capped calls.

  • Balance Sheet: Cash and cash equivalents, and short-term investments at the end of the fourth quarter of fiscal 2020 totaled $2.2 billion.

On a non-IFRS basis, Atlassian reported:

  • Operating Income and Operating Margin: Operating income was $82.5 million for the fourth quarter of fiscal 2020, compared with operating income of $55.9 million for the fourth quarter of fiscal 2019. Operating margin was 19% for the fourth quarter of fiscal 2020, compared with 17% for the fourth quarter of fiscal 2019.
  • Net Income and Net Income Per Diluted Share: Net income was $63.0 million for the fourth quarter of fiscal 2020, compared with net income of $51.2 million for the fourth quarter of fiscal 2019. Net income per diluted share was $0.25 for the fourth quarter of fiscal 2020, compared with net income per diluted share of $0.20 for the fourth quarter of fiscal 2019.
  • Free Cash Flow: Cash flow from operations was $123.3 million and free cash flow was $95.7 million for the fourth quarter of fiscal 2020. Free cash flow margin for the fourth quarter of fiscal 2020 was 22%.

Fiscal Year 2020 Financial Highlights

On an IFRS basis, Atlassian reported:

  • Revenue: Total revenue was $1.6 billion for fiscal year 2020, up 33% from $1.2 billion for fiscal year 2019.
  • Operating Income (Loss) and Operating Margin: Operating income was $14.1 million for fiscal year 2020, compared with an operating loss of $63.4 million for fiscal year 2019. Operating margin was 1% for fiscal year 2020, compared with (5)% for fiscal year 2019.
  • Net Loss and Net Loss Per Diluted Share: Net loss was $350.7 million for fiscal year 2020, compared with a net loss of $637.6 million for fiscal year 2019. Net loss per diluted share was $1.43 for fiscal year 2020, compared with a net loss per diluted share of $2.67 for fiscal year 2019.

Net loss for fiscal year 2020 included a non-cash charge recorded in “other non-operating expense, net” of $336.0 million, compared with a non-cash charge of $533.9 million in fiscal year 2019, as a result of marking to fair value the exchange feature of Atlassian’s exchangeable senior notes and related capped calls.

On a non-IFRS basis, Atlassian reported:

  • Operating Income and Operating Margin: Operating income was $370.0 million for fiscal year 2020, compared with operating income of $251.2 million for fiscal year 2019. Operating margin was 23% for fiscal year 2020, compared with 21% for fiscal year 2019.
  • Net Income and Net Income Per Diluted Share: Net income was $288.8 million for fiscal year 2020, compared with net income of $214.5 million for fiscal year 2019. Net income per diluted share was $1.15 for fiscal year 2020, compared with net income per diluted share of $0.86 for fiscal year 2019.
  • Free Cash Flow: Cash flow from operations was $574.2 million and free cash flow was $500.4 million for fiscal year 2020, an increase of 19% year-over-year. Free cash flow margin for fiscal year 2020 was 31%.

A reconciliation of IFRS to non-IFRS 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-IFRS Financial Measures.”

Recent Business Highlights:

  • Customer Growth: Atlassian ended the fourth quarter of fiscal 2020 with a total customer count, on an active subscription or maintenance agreement basis, of 174,097. Atlassian added 3,046 net new customers during the quarter.
  • Halp Acquisition: In May, Atlassian closed its acquisition of Halp, which uses messaging to turn Slack into an internal help desk solution for any team, including marketing, security, legal, finance, support, and IT. Halp seamlessly extends Jira Service Desk into Slack, and offers two-way integration with Confluence, as well as Zendesk. Internal teams at Adobe, Home Depot, GitHub, Slack, ClassPass, and thousands more already use Halp every day. For more information, visit halp.com.
  • Mindville Acquisition: Today, Atlassian announced its acquisition of Mindville, an asset and configuration management company based in Sweden with over 1,700 customers worldwide including NASA, Spotify, and Samsung. With its acquisition of Mindville, Atlassian brings critical configuration management database (CMDB) capability to Jira Service Desk to better meet the needs of its IT customers. The lines between software development and IT continue to break down, and Mindville furthers Atlassian’s ability to create a single platform for developer and IT workflows. For more information, visit mindville.com.

Financial Targets:

Atlassian is providing its financial targets for the first quarter of fiscal year 2021. The company’s financial targets are as follows:

  • First Quarter Fiscal Year 2021:
  • Total revenue is expected to be in the range of $430 million to $445 million.
  • Gross margin is expected to be approximately 84% on an IFRS basis and approximately 86% on a non-IFRS basis.
  • Operating margin is expected to be approximately 0% on an IFRS basis and approximately 21% on a non-IFRS basis.
  • Net loss per diluted share is expected to be in the range of ($0.06) to ($0.05) on an IFRS basis, and net income per diluted share is expected to be in the range of $0.26 to $0.27 on a non-IFRS basis.
  • Weighted average share count is expected to be in the range of 247 million to 249 million shares when calculating diluted IFRS net loss per share and in the range of 253 million to 255 million shares when calculating diluted non-IFRS net income per share.

For additional commentary regarding financial targets, please see Atlassian’s Q4 fiscal 2020 shareholder letter dated July 30, 2020.

With respect to Atlassian’s expectations under “Financial Targets” above, a reconciliation of IFRS to non-IFRS gross margin, operating margin, and net income (loss) per diluted share, has been provided in the financial statement tables included in this press release.

Shareholder Letter and Webcast/Conference Call Details:

A detailed shareholder letter is available on the Investor Relations section of Atlassian’s website at: https://investors.atlassian.com. Atlassian will host a webcast and conference call to answer questions today:

  • When: Thursday, July 30, 2020 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.
  • Dial in: To access the call via telephone in North America, please dial 1-833-714-0871. For international callers, please dial 1-778-560-2676. Participants should request the “Atlassian call” after dialing in.
  • Audio replay: An audio replay of the call will be available via telephone for seven days, beginning two hours after the call. To listen to the replay in North America, please dial 1-800-585-8367 (access code 4859305). International callers, please dial 1-416-621-4642 (access code 4859305).

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.

About Atlassian

Atlassian unleashes the potential of every team. Our team collaboration and productivity software helps teams organize, discuss, and complete shared work. Teams at more than 174,000 customers, across large and small organizations - including General Motors, Walmart Labs, Bank of America Merrill Lynch, Lyft, Verizon, Spotify and NASA - use Atlassian’s project tracking, content creation and sharing, and service management products to work better together and deliver quality results on time. Learn more about our products, including Jira Software, Confluence, Trello, Bitbucket, Opsgenie, Jira Service Desk, and Jira Align at https://atlassian.com/.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which statements involve substantial risks and uncertainties. All statements other than statements of historical fact could be deemed forward looking, including risks and uncertainties related to statements about our products, customers, anticipated growth, go-to-market model, acquisitions, outlook, technology and other key strategic areas, and our financial targets such as revenue, share count, and IFRS and non-IFRS financial measures including gross margin, operating margin, and net income (loss) per diluted share.

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 from time to time, including the section titled “Risk Factors” in our most recent Forms 20-F and 6-K (reporting our quarterly results). These documents are available on the SEC Filings section of the Investor Relations section of our website at: https://investors.atlassian.com/.

About Non-IFRS Financial Measures

Our reported results and financial targets include certain non-IFRS financial measures, including non-IFRS gross profit, non-IFRS operating income, non-IFRS net income, non-IFRS net income per diluted share, and free cash flow. Management believes that the use of these non-IFRS financial measures provides consistency and comparability with our past financial performance, facilitates period-to-period comparisons of our results of operations, and also facilitates comparisons with peer companies, many of which use similar non-IFRS or non-GAAP financial measures to supplement their IFRS or GAAP results. Non-IFRS results are presented for supplemental informational purposes only to aid in understanding our results of operations. The non-IFRS results should not be considered a substitute for financial information presented in accordance with IFRS, and may be different from non-IFRS or non-GAAP measures used by other companies.

Our non-IFRS financial measures include:

  • Non-IFRS gross profit. Excludes expenses related to share-based compensation and amortization of acquired intangible assets.
  • Non-IFRS operating income. Excludes expenses related to share-based compensation and amortization of acquired intangible assets.
  • Non-IFRS net income and non-IFRS net income per diluted share. Excludes expenses related to share- based compensation, amortization of acquired intangible assets, non-coupon impact related to exchangeable senior notes and capped calls, the related income tax effects on these items, and changes in our assessment regarding the realizability of our deferred tax assets.
  • 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, and from fiscal year 2020, with the adoption of IFRS 16, Leases (“IFRS 16”), payments of lease obligations are also deducted.

Our non-IFRS financial measures reflect adjustments based on the items below:

  • Share-based compensation.
  • Amortization of acquired intangible assets.
  • Non-coupon impact related to exchangeable senior notes and capped calls:
    • Amortization of notes discount and issuance costs.
    • Mark to fair value of the exchangeable senior notes exchange feature.
    • Mark to fair value of the related capped call transactions.
  • The related income tax effects on these items, and changes in our assessment regarding the realizability of our deferred tax assets.
  • Capital expenditures and payments of lease obligations.

We exclude expenses related to share-based compensation, amortization of acquired intangible assets, non-coupon impact related to exchangeable senior notes and capped calls, the related income tax effects on these items, and changes in our assessment regarding the realizability of our deferred tax assets from certain of our non-IFRS financial measures as we believe this helps investors understand our operational performance. In addition, share-based compensation expense can be difficult to predict and varies from period to period and company to company due to differing valuation methodologies, subjective assumptions, and the variety of equity instruments, as well as changes in stock price. Management believes that providing non-IFRS financial measures that exclude share-based compensation expense, amortization of acquired intangible assets, non-coupon impact related to exchangeable senior notes and capped calls, the related income tax effects on these items, and changes in our assessment regarding the realizability of our deferred tax assets allow for more meaningful comparisons between our results of operations from period to period.

Management considers free cash flow to be a liquidity measure that provides useful information to management and investors about the amount of cash generated by our business that can be used for strategic opportunities, including investing in our business, making strategic acquisitions, and strengthening our statement of financial position.

Management uses non-IFRS gross profit, non-IFRS operating income, non-IFRS net income, non-IFRS net income per diluted share, and free cash flow:

  • As measures of operating performance, because these financial measures do not include the impact of items not directly resulting from our core operations.
  • For planning purposes, including the preparation of our annual operating budget.
  • To allocate resources to enhance the financial performance of our business.
  • To evaluate the effectiveness of our business strategies.
  • In communications with our Board of Directors concerning our financial performance.

The tables in this press release titled “Reconciliation of IFRS to Non-IFRS Results” and “Reconciliation of IFRS to Non-IFRS Financial Targets” provide reconciliations of non-IFRS financial measures to the most recent directly comparable financial measures calculated and presented in accordance with IFRS.

We understand that although non-IFRS gross profit, non-IFRS operating income, non-IFRS net income, non-IFRS net income per diluted share, and free cash flow are frequently used by investors and securities analysts in their evaluation of companies, these measures have limitations as analytical tools, and you should not consider them in isolation or as substitutes for analysis of our results of operations as reported under IFRS.

Atlassian Corporation Plc

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,

 

 

2020

 

2019

 

2020

 

2019

Revenues:

 

 

 

 

 

 

 

 

Subscription

 

$

257,521

 

 

 

$

180,917

 

 

 

$

931,455

 

 

 

$

633,950

 

 

Maintenance

 

122,774

 

 

 

105,767

 

 

 

469,350

 

 

 

394,526

 

 

Perpetual license

 

20,365

 

 

 

22,824

 

 

 

95,162

 

 

 

93,593

 

 

Other

 

29,816

 

 

 

25,078

 

 

 

118,206

 

 

 

88,058

 

 

Total revenues

 

430,476

 

 

 

334,586

 

 

 

1,614,173

 

 

 

1,210,127

 

 

Cost of revenues (1) (2)

 

70,112

 

 

 

61,129

 

 

 

268,807

 

 

 

210,285

 

 

Gross profit

 

360,364

 

 

 

273,457

 

 

 

1,345,366

 

 

 

999,842

 

 

Operating expenses:

 

 

 

 

 

 

 

 

Research and development (1) (2)

 

210,738

 

 

 

170,321

 

 

 

763,188

 

 

 

579,134

 

 

Marketing and sales (1) (2)

 

77,892

 

 

 

76,600

 

 

 

299,683

 

 

 

268,356

 

 

General and administrative (1)

 

75,014

 

 

 

58,980

 

 

 

268,409

 

 

 

215,714

 

 

Total operating expenses

 

363,644

 

 

 

305,901

 

 

 

1,331,280

 

 

 

1,063,204

 

 

Operating income (loss)

 

(3,280

)

 

 

(32,444

)

 

 

14,086

 

 

 

(63,362

)

 

Other non-operating expense, net

 

(383,234

)

 

 

(157,473

)

 

 

(338,486

)

 

 

(535,453

)

 

Finance income

 

3,390

 

 

 

9,272

 

 

 

27,801

 

 

 

33,500

 

 

Finance costs

 

(12,484

)

 

 

(10,217

)

 

 

(49,610

)

 

 

(40,241

)

 

Loss before income tax benefit (expense)

 

(395,608

)

 

 

(190,862

)

 

 

(346,209

)

 

 

(605,556

)

 

Income tax benefit (expense)

 

10,385

 

 

 

(46,655

)

 

 

(4,445

)

 

 

(32,065

)

 

Net loss

 

$

(385,223

)

 

 

$

(237,517

)

 

 

$

(350,654

)

 

 

$

(637,621

)

 

Net loss per share attributable to ordinary shareholders:

 

 

 

 

 

 

 

 

Basic

 

$

(1.56

)

 

 

$

(0.99

)

 

 

$

(1.43

)

 

 

$

(2.67

)

 

Diluted

 

$

(1.56

)

 

 

$

(0.99

)

 

 

$

(1.43

)

 

 

$

(2.67

)

 

Weighted-average shares outstanding used to compute net loss per share attributable to ordinary shareholders:

 

 

 

 

 

 

 

 

Basic

 

246,909

 

 

 

241,121

 

 

 

244,844

 

 

 

238,611

 

 

Diluted

 

246,909

 

 

 

241,121

 

 

 

244,844

 

 

 

238,611

 

 

   

(1) Amounts include share-based payment expense, as follows:

 

 

Three Months Ended June 30,

 

Fiscal Year Ended June 30,

 

 

2020

 

2019

 

2020

 

2019

Cost of revenues

 

$

5,133

 

 

 

$

5,294

 

 

 

$

19,787

 

 

 

$

17,450

 

 

Research and development

 

52,162

 

 

 

47,005

 

 

 

204,150

 

 

 

149,049

 

 

Marketing and sales

 

9,058

 

 

 

10,713

 

 

 

41,960

 

 

 

39,303

 

 

General and administrative

 

11,786

 

 

 

13,120

 

 

 

47,498

 

 

 

51,960

 

 

   

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

 

 

Three Months Ended June 30,

 

Fiscal Year Ended June 30,

 

 

2020

 

2019

 

2020

 

2019

Cost of revenues

 

$

5,203

 

 

 

$

8,518

 

 

 

$

29,509

 

 

 

$

27,997

 

 

Research and development

 

42

 

 

 

20

 

 

 

166

 

 

 

60

 

 

Marketing and sales

 

2,349

 

 

 

3,672

 

 

 

12,860

 

 

 

28,744

 

 

Atlassian Corporation Plc

Consolidated Statements of Financial Position

(U.S. $ in thousands)

 

 

June 30, 2020

 

June 30, 2019

 

 

(unaudited)

 

 

Assets

 

 

 

 

Current assets:

 

 

 

 

Cash and cash equivalents

 

$

1,479,969

 

 

 

$

1,268,441

 

 

Short-term investments

 

676,072

 

 

 

445,046

 

 

Trade receivables

 

112,019

 

 

 

82,525

 

 

Tax receivables

 

1,509

 

 

 

707

 

 

Derivative assets

 

327,487

 

 

 

215,156

 

 

Prepaid expenses and other current assets

 

46,730

 

 

 

30,236

 

 

Total current assets

 

2,643,786

 

 

 

2,042,111

 

 

Non-current assets:

 

 

 

 

Property and equipment, net

 

97,648

 

 

 

81,459

 

 

Deferred tax assets

 

35,351

 

 

 

17,084

 

 

Goodwill

 

645,140

 

 

 

608,907

 

 

Intangible assets, net

 

129,690

 

 

 

150,975

 

 

Right-of-use assets, net

 

217,683

 

 

 

 

 

Other non-current assets

 

124,774

 

 

 

76,722

 

 

Total non-current assets

 

1,250,286

 

 

 

935,147

 

 

Total assets

 

$

3,894,072

 

 

 

$

2,977,258

 

 

Liabilities

 

 

 

 

Current liabilities:

 

 

 

 

Trade and other payables

 

$

202,570

 

 

 

$

159,487

 

 

Tax liabilities

 

19,583

 

 

 

11,703

 

 

Provisions

 

14,291

 

 

 

8,983

 

 

Deferred revenue

 

573,813

 

 

 

440,954

 

 

Lease obligations

 

34,743

 

 

 

 

 

Derivative liabilities

 

1,284,596

 

 

 

855,005

 

 

Current portion of exchangeable senior notes, net

 

889,183

 

 

 

853,576

 

 

Total current liabilities

 

3,018,779

 

 

 

2,329,708

 

 

Non-current liabilities:

 

 

 

 

Deferred tax liabilities

 

31,304

 

 

 

13,872

 

 

Provisions

 

9,493

 

 

 

6,082

 

 

Deferred revenue

 

27,192

 

 

 

27,866

 

 

Lease obligations

 

229,825

 

 

 

 

 

Other non-current liabilities

 

2,173

 

 

 

34,263

 

 

Total non-current liabilities

 

299,987

 

 

 

82,083

 

 

Total liabilities

 

3,318,766

 

 

 

2,411,791

 

 

Equity

 

 

 

 

Share capital

 

24,744

 

 

 

24,199

 

 

Share premium

 

459,892

 

 

 

458,166

 

 

Other capital reserves

 

1,130,918

 

 

 

816,660

 

 

Other components of equity

 

76,144

 

 

 

32,079

 

 

Accumulated deficit

 

(1,116,392

)

 

 

(765,637

)

 

Total equity

 

575,306

 

 

 

565,467

 

 

Total liabilities and equity

 

$

3,894,072

 

 

 

$

2,977,258

 

 

Atlassian Corporation Plc

Consolidated Statements of Cash Flows

(U.S. $ in thousands)

(unaudited)

   

 

 

Three Months Ended June 30,

 

Fiscal Year Ended June 30,

 

 

2020

 

2019

 

2020

 

2019

Operating activities

 

 

 

 

 

 

 

 

Loss before income tax benefit (expense)

 

$

(395,608

)

 

 

$

(190,862

)

 

 

$

(346,209

)

 

 

$

(605,556

)

 

Adjustments to reconcile loss before income tax benefit (expense) to net cash provided by operating activities:

 

 

 

 

 

 

 

 

Depreciation and amortization

 

13,123

 

 

 

15,845

 

 

 

62,271

 

 

 

70,248

 

 

Depreciation of right-of-use assets

 

8,955

 

 

 

 

 

 

35,127

 

 

 

 

 

Gain on sale of investments, disposal of assets and other

 

(138

)

 

 

(12

)

 

 

(993

)

 

 

(2,357

)

 

Net unrealized foreign currency loss (gain)

 

1,670

 

 

 

(136

)

 

 

(1,503

)

 

 

(770

)

 

Share-based payment expense

 

78,139

 

 

 

76,132

 

 

 

313,395

 

 

 

257,762

 

 

Net unrealized loss on exchange derivative and capped call transactions

 

382,696

 

 

 

156,321

 

 

 

335,953

 

 

 

533,908

 

 

Amortization of debt discount and issuance cost

 

9,063

 

 

 

8,638

 

 

 

35,608

 

 

 

33,939

 

 

Interest income

 

(3,390

)

 

 

(9,272

)

 

 

(27,801

)

 

 

(33,500

)

 

Interest expense

 

3,421

 

 

 

1,579

 

 

 

14,002

 

 

 

6,302

 

 

Changes in assets and liabilities:

 

 

 

 

 

 

 

 

Trade receivables

 

(18,229

)

 

 

(14,584

)

 

 

(29,440

)

 

 

(30,211

)

 

Prepaid expenses and other assets

 

(3,014

)

 

 

14,292

 

 

 

(10,608

)

 

 

1,085

 

 

Trade and other payables, provisions and other non-current liabilities

 

26,080

 

 

 

19,419

 

 

 

51,532

 

 

 

75,624

 

 

Deferred revenue

 

17,798

 

 

 

33,556

 

 

 

131,535

 

 

 

122,502

 

 

Interest received

 

4,801

 

 

 

8,372

 

 

 

29,217

 

 

 

30,328

 

 

Tax refunds received (income tax paid), net

 

(2,026

)

 

 

(1,562

)

 

 

(17,876

)

 

 

7,038

 

 

Net cash provided by operating activities

 

123,341

 

 

 

117,726

 

 

 

574,210

 

 

 

466,342

 

 

Investing activities

 

 

 

 

 

 

 

 

Business combinations, net of cash acquired

 

(15,229

)

 

 

(155,041

)

 

 

(53,212

)

 

 

(418,595

)

 

Purchases of intangible assets

 

 

 

 

(1,260

)

 

 

 

 

 

(2,110

)

 

Purchases of property and equipment

 

(15,844

)

 

 

(19,563

)

 

 

(35,709

)

 

 

(44,192

)

 

Proceeds from sales of property, equipment and intangible assets

 

 

 

 

 

 

 

 

 

 

3,721

 

 

Purchases of investments

 

(34,450

)

 

 

(295,389

)

 

 

(985,931

)

 

 

(648,036

)

 

Proceeds from maturities of investments

 

88,011

 

 

 

167,438

 

 

 

513,268

 

 

 

485,021

 

 

Proceeds from sales of investments

 

7,857

 

 

 

11,803

 

 

 

245,498

 

 

 

20,545

 

 

Increase in restricted cash

 

(2,085

)

 

 

 

 

 

(2,085

)

 

 

(552

)

 

Payment of deferred consideration

 

(760

)

 

 

 

 

 

(760

)

 

 

 

 

Net cash provided by (used in) investing activities

 

27,500

 

 

 

(292,012

)

 

 

(318,931

)

 

 

(604,198

)

 

Financing activities

 

 

 

 

 

 

 

 

Proceeds from exercise of share options

 

317

 

 

 

713

 

 

 

1,802

 

 

 

3,542

 

 

Payment of exchangeable senior notes issuance costs

 

 

 

 

 

 

 

 

 

 

(410

)

 

Payments of lease obligations

 

(11,790

)

 

 

 

 

 

(38,125

)

 

 

 

 

Interest paid

 

(3,125

)

 

 

(3,125

)

 

 

(6,250

)

 

 

(6,319

)

 

Repayment of exchangeable senior notes

 

 

 

 

 

 

 

(2

)

 

 

 

 

Net cash used in financing activities

 

(14,598

)

 

 

(2,412

)

 

 

(42,575

)

 

 

(3,187

)

 

Effect of exchange rate changes on cash and cash equivalents

 

5,533

 

 

 

(145

)

 

 

(1,176

)

 

 

(855

)

 

Net increase (decrease) in cash and cash equivalents

 

141,776

 

 

 

(176,843

)

 

 

211,528

 

 

 

(141,898

)

 

Cash and cash equivalents at beginning of period

 

1,338,193

 

 

 

1,445,284

 

 

 

1,268,441

 

 

 

1,410,339

 

 

Cash and cash equivalents at end of period

 

$

1,479,969

 

 

 

$

1,268,441

 

 

 

$

1,479,969

 

 

 

$

1,268,441

 

 


Contacts

Investor Relations Contact
Martin Lam & Matt Sonefeldt
IR@atlassian.com

Media Contact
Jake Standish
press@atlassian.com


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