Quarterly revenue of $223.7 million, up
40% year-over-year
Quarterly IFRS operating margin of (5%) and
non-IFRS operating margin of 17%
Quarterly free cash flow of $86.4 million and
free cash flow margin of 39%
Atlassian Corporation Plc (NASDAQ: TEAM), a leading provider of
team collaboration and productivity software, today announced
financial results for its third quarter of fiscal 2018 ended March
31, 2018 and released a shareholder letter on the
Investor Relations section of its
website at https://investors.atlassian.com.
“Atlassian had a strong quarter, adding more than 6,000 net new
customers for the first time, and engaging with almost
3,000 users and partners around the world as part of our Team
Tour,” said Mike Cannon-Brookes, Atlassian’s co-CEO and
co-founder. “We were also excited to open our newest office in
Bengaluru, India. This office will play an important role in
expanding our global presence as we scale Atlassian to serve the
Fortune 500,000.”
Third Quarter Fiscal Year 2018 Financial Highlights:
On an IFRS basis, Atlassian reported:
- Revenue: Total revenue was
$223.7 million for the third quarter of fiscal 2018, up 40% from
$159.9 million for the third quarter of fiscal 2017.
- Operating Loss and Operating
Margin: Operating loss was $10.9 million for
the third quarter of fiscal 2018, compared with
$23.1 million for the third quarter of fiscal
2017. Operating margin was (5%) for the third
quarter of fiscal 2018, compared with (14%) for the third
quarter of fiscal 2017.
- Net Loss and Net Loss Per
Diluted Share: Net loss was $14.3 million for
the third quarter of fiscal 2018, compared with $17.5
million for the third quarter of fiscal 2017. Net loss
per diluted share was $0.06 for
the third quarter of fiscal 2018, compared with $0.08 for
the third quarter of fiscal 2017.
- Balance Sheet: Cash
and cash equivalents and short-term investments at the
end of the third quarter of fiscal 2018
totaled $763.9 million.
On a non-IFRS basis, Atlassian reported:
- Operating Income and Operating
Margin: Operating income was $38.4 million for
the third quarter of fiscal 2018, compared with
$24.5 million for the third quarter of fiscal
2017. Operating margin was 17% for the third quarter of
fiscal 2018, compared with 15% for the third quarter of fiscal
2017.
- Net Income and Net
Income Per Diluted Share: Net income was $24.6 million for
the third quarter of fiscal 2018, compared
with $18.9 million for the third quarter of
fiscal 2017. Net income per diluted share was $0.10 for
the third quarter of fiscal 2018, compared with $0.08 per
diluted share for the third quarter of fiscal 2017.
- Free Cash Flow: Cash flow from
operations for the third quarter of fiscal 2018 was $91.7
million, while capital expenditures totaled $5.3 million, resulting
in free cash flow of $86.4 million, an increase of 26%
year-over-year.
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 third quarter of fiscal 2018 with a total
customer count on an active subscription or maintenance
agreement basis of 119,158, having added 6,587 net
new customers during the quarter.
- Atlassian Team
Tour: Atlassian kicked off its “Team Tour” in February
2018, a global customer event unveiling product updates, sharing
the latest in team practices, and discussing the future of teamwork
with almost 3,000 users and partners. Atlassian has nearly
completed its tour of 11 cities, with the event concluding in Tokyo
on May 23.
- Bengaluru launch: Atlassian
announced the opening of its newest office in Bengaluru, India. The
new location will add to Atlassian’s world-class R&D and
customer support centers around the globe.
Board of Directors Announcements:
“We're excited about two big changes to our Board of Directors,”
said Scott Farquhar, Atlassian's co-CEO and co-founder. “We're
announcing the appointment of Shona Brown, a current Board member,
as the new Chair the Board, where she will continue to improve our
governance and processes, and help guide Atlassian as we
scale. We are also adding a new Board member, Sasan Goodarzi,
who brings almost 15 years of experience driving product leadership
and growth at Intuit, and has first-hand knowledge of what it takes
to scale a successful software business in the cloud.”
- Appointment to Chair of the Board:
Shona Brown
Atlassian is pleased to announce the
appointment of Shona Brown to Chair of the Board,
succeeding Scott Farquhar, who remains on the Board. She has served
as a member of Atlassian's Board of Directors since
November 2015, and also as Chair of the Compensation and
Leadership Development Committee.
Dr. Brown is a former member of the Google executive team, which
she joined in 2003. She served as vice president of business
operations from 2003 to 2006 and as senior vice president of
business operations from 2006 to 2011, after which she transitioned
to a role leading Google’s technology for social impact efforts
until 2012. Dr. Brown moved into a senior advisory role with Google
from 2013 to 2015. Previously, Dr. Brown was a partner at McKinsey
& Company, a management consulting firm. She is currently an
advisor and board member to a portfolio of technology startups and
also serves on the board of PepsiCo. Dr. Brown holds a bachelor of
computer systems engineering from Carleton University, a master of
arts in philosophy and economics from Oxford University (which she
attended as a Rhodes scholar) and a Ph.D. in industrial engineering
and industrial management from Stanford University.
- Appointment to the Board: Sasan
Goodarzi
Atlassian is excited to welcome Sasan Goodarzi to our Board. Mr.
Goodarzi is executive vice president and general manager of
Intuit’s Small Business and Self-Employed Group. Appointed to this
role in May 2016, he leads an organization that offers a global
platform with a suite of products and services under the QuickBooks
brand in pursuit of Intuit's mission of powering prosperity around
the world.
Mr. Goodarzi has held multiple general management positions
during two separate stints at Intuit, including as senior vice
president and general manager for the company’s ProTax division and
Intuit Financial Services from 2004 to 2010, as chief information
officer leading Intuit’s transition to the cloud from 2011 to 2013,
and as general manager and executive vice president of TurboTax
from 2013 to 2016. Prior to joining Intuit, Mr. Goodarzi worked for
Invensys, a global provider of industrial automation,
transportation and controls technology, serving as global president
of the products group. He also held a number of senior leadership
roles in the automation control division at Honeywell.
Mr. Goodarzi earned his bachelor’s degree in electrical
engineering at the University of Central Florida and a master’s
degree in business administration from the Kellogg School of
Management at Northwestern University.
Financial Targets:
Atlassian is providing its financial targets for the fourth
quarter and full fiscal year 2018. The company’s financial targets
are as follows:
- Fourth Quarter Fiscal Year 2018:
- Total revenue is expected to be in the
range of $232 million to $234 million.
- Gross margin is expected to be
approximately 81% on an IFRS basis and approximately 85% on a
non-IFRS basis.
- Operating margin is expected to be
approximately (5%) on an IFRS basis and approximately 19% on a
non-IFRS basis.
- Net loss per diluted share is expected
to be approximately ($0.05) on an IFRS basis, and net income per
diluted share is expected to be approximately $0.12 on a non-IFRS
basis.
- Weighted-average share count is
expected to be in the range of 234 million to 235 million shares
when calculating diluted IFRS net loss per share and in the range
of 246 million to 247 million shares when calculating diluted
non-IFRS net income per share.
- Fiscal Year 2018:
- Total revenue is expected to be in the
range of $862 million to $864 million.
- Gross margin is expected to be
approximately 80% on an IFRS basis and approximately 84% on a
non-IFRS basis.
- Operating margin is expected to be
approximately (7%) on an IFRS basis and approximately 19% on a
non-IFRS basis.
- Net loss per diluted share is expected
to be in the range of ($0.44) to ($0.43) on an IFRS basis, and net
income per diluted share is expected to be in the range of $0.47 to
$0.48 on a non-IFRS basis.
- Weighted-average share count is
expected to be in the range of 231 million to 232 million shares
when calculating diluted IFRS net loss per share and in the range
of 243 million to 244 million shares when calculating diluted
non-IFRS net income per share.
- Free cash flow is expected to be in the
range of $265 million to $272 million, which includes capital
expenditures that are expected to be approximately $30
million.
With respect to Atlassian’s expectations under “Financial
Targets” above, a reconciliation of IFRS to non-IFRS gross margin,
operating margin, net income per diluted share, and free cash flow
have 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, April 19, 2018
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 1-888-346-0688. For
international callers, please dial
1-412-902-4250. 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 1-877-344-7529 (access code 10118114).
International callers, please dial 1-412-317-0088 (access code
10118114).
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
collaboration software helps teams organize, discuss and complete
shared work. Teams at more than 119,000 customers, across large and
small organizations - including Citigroup, eBay, Coca-Cola, Visa,
BMW and NASA - use Atlassian's project tracking, content creation
and sharing, real-time communication and service management
products to work better together and deliver quality results on
time. Learn more about products including Jira Software,
Confluence, Stride, Trello, Bitbucket and Jira Service Desk 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, expansion, 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, net income (loss) per
diluted share and free cash flow.
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 operating results. 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 reflect adjustments based on the
items below:
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, 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 acquired intangible assets.
We exclude expenses related to share-based compensation,
amortization of acquired intangible assets, 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,
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 operating results
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; and
- 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 March 31, Nine Months Ended March 31,
2018
2017
2018
2017
Revenues: Subscription $ 105,604 $ 63,369 $ 285,775 $
169,626 Maintenance 81,953 67,072 238,630 193,873 Perpetual license
21,273 19,495 62,967 55,206 Other 14,893 9,973
42,795 26,900 Total revenues
223,723 159,909 630,167 445,605 Cost of revenues (1) (2)
45,240 32,895 128,494
82,356 Gross profit 178,483 127,014 501,673 363,249
Operating expenses: Research and development (1) 108,544 82,262
304,730 219,477 Marketing and sales (1) (2) 48,652 36,625 138,928
89,021 General and administrative (1) 32,167
31,190 106,476 85,581 Total
operating expenses 189,363 150,077
550,134 394,079 Operating loss (10,880
) (23,063 ) (48,461 ) (30,830 ) Other non-operating income
(expense), net 740 (492 ) (418 ) (806 ) Finance income 2,001 1,040
4,824 3,803 Finance costs (8 ) (6 ) (24 )
(51 ) Loss before income tax benefit (expense) (8,147 )
(22,521 ) (44,079 ) (27,884 ) Income tax benefit (expense)
(6,119 ) 5,060 (49,411 ) 6,088
Net loss $ (14,266 ) $ (17,461 ) $ (93,490 ) $ (21,796 ) Net loss
per share attributable to ordinary shareholders: Basic $ (0.06 ) $
(0.08 ) $ (0.41 ) $ (0.10 ) Diluted $ (0.06 ) $ (0.08 ) $ (0.41 ) $
(0.10 ) Weighted-average shares outstanding used to compute net
loss per share attributable to ordinary shareholders: Basic
232,221 223,333 230,180
221,034 Diluted 232,221 223,333
230,180 221,034
_______________
(1) Amounts include share-based payment
expense, as follows:
Three Months Ended March 31,
Nine Months Ended March 31,
2018
2017
2018
2017
Cost of revenues
$
3,021
$
1,853
$
9,193
$
4,697
Research and development
25,347
21,628
78,338
54,786
Marketing and sales
5,816
5,336
18,161
11,940
General and administrative
737
8,965
18,705
24,688
(2) Amounts include amortization of
acquired intangible assets, as follows:
Three Months Ended March 31,
Nine Months Ended March 31,
2018
2017
2018
2017
Cost of revenues
$
5,302
$
4,907
$
15,889
$
9,307
Marketing and sales
9,022
4,866
27,067
5,281
Atlassian Corporation Plc Consolidated
Statements of Financial Position (U.S. $ in thousands)
(unaudited) March 31, 2018
June 30, 2017 Assets Current assets: Cash and cash
equivalents $ 393,513 $ 244,420 Short-term investments 370,353
305,499 Trade receivables 38,469 26,807 Current tax receivables
13,129 12,445 Prepaid expenses and other current assets 22,697
23,317 Total current assets 838,161 612,488
Non-current assets: Property and equipment, net 35,098
41,173 Deferred tax assets 97,234 188,239 Goodwill 312,048 311,900
Intangible assets, net 77,978 120,789 Other non-current assets
12,226 9,269 Total non-current assets 534,584
671,370 Total assets $ 1,372,745 $ 1,283,858
Liabilities Current liabilities: Trade and other payables $
100,106 $ 73,192 Current tax liabilities 22 2,207 Provisions 6,882
6,162 Deferred revenue 308,181 245,306 Total current
liabilities 415,191 326,867 Non-current liabilities:
Deferred tax liabilities 42,951 43,950 Provisions 4,209 3,333
Deferred revenue 17,861 10,691 Other non-current liabilities 9,820
4,969 Total non-current liabilities 74,841
62,943 Total liabilities 490,032 389,810
Equity Share capital 23,318 22,726 Share premium 453,894
450,959 Other capital reserves 518,793 437,346 Other components of
equity 3,427 6,246 Accumulated deficit (116,719 ) (23,229 ) Total
equity 882,713 894,048 Total liabilities and equity $
1,372,745 $ 1,283,858
Atlassian Corporation
Plc Consolidated Statements of Cash Flows (U.S. $ in
thousands) (unaudited) Three Months
Ended March 31, Nine Months Ended March 31,
2018 2017 2018 2017
Operating activities Loss before income tax benefit
(expense) $ (8,147 ) $ (22,521 ) $ (44,079 ) $ (27,884 )
Adjustments to reconcile loss before income tax benefit (expense)
to net cash provided by operating activities: Depreciation and
amortization 20,111 18,485 61,681 37,780 Gain on sale of
investments and other assets (1,193 ) (15 ) (1,225 ) (422 ) Net
unrealized foreign currency (gain) loss 67 209 (95 ) 1 Share-based
payment expense 34,921 37,782 124,397 96,111 Interest income (2,001
) (1,040 ) (4,824 ) (3,803 ) Changes in assets and liabilities:
Trade receivables (3,500 ) 2,155 (11,887 ) (9,913 ) Prepaid
expenses and other assets (236 ) (89 ) 907 (2,859 ) Trade and other
payables, provisions and other non-current liabilities 27,311
12,707 33,569 9,308 Deferred revenue 24,343 25,035 70,045 49,352
Interest received 1,677 1,470 4,468 5,147 Income tax paid, net of
refunds (1,677 ) (1,255 ) (3,704 ) (4,034 ) Net cash provided by
operating activities 91,676 72,923 229,253 148,784
Investing
activities Business combinations, net of cash acquired —
(362,795 ) — (381,090 ) Purchases of property and equipment (5,293
) (4,623 ) (12,407 ) (9,921 ) Proceeds from sale of other assets
1,000 — 1,000 342 Purchases of investments (64,896 ) (105,021 )
(292,024 ) (338,385 ) Proceeds from maturities of investments
43,217 23,088 125,104 80,188 Proceeds from sales of investments
18,907 235,173 100,965 433,761 Increase in restricted cash (96 ) —
(3,237 ) (3,369 ) Payment of deferred consideration (3,290 ) —
(3,290 ) (935 ) Net cash used in investing activities
(10,451 ) (214,178 ) (83,889 ) (219,409 )
Financing
activities Proceeds from exercise of share options 932
1,535 3,087 7,403 Net cash provided by
financing activities 932 1,535 3,087 7,403
Effect of exchange rate changes on cash and cash
equivalents 451 440 642 395
Net
increase (decrease) in cash and cash equivalents 82,608
(139,280 ) 149,093 (62,827 )
Cash and cash equivalents at
beginning of period 310,905 336,162 244,420
259,709
Cash and cash equivalents at end of
period $ 393,513 $ 196,882 $ 393,513 $
196,882
Atlassian Corporation Plc
Reconciliation of IFRS to Non-IFRS Results (U.S. $ and
shares in thousands, except per share data) (unaudited)
Three Months Ended March 31, Nine
Months Ended March 31, 2018 2017
2018 2017
Gross
profit
IFRS gross profit $ 178,483 $ 127,014 $ 501,673 $ 363,249 Plus:
Share-based payment expense 3,021 1,853 9,193 4,697 Plus:
Amortization of acquired intangible assets 5,302 4,907
15,889 9,307 Non-IFRS gross profit $ 186,806
$ 133,774 $ 526,755 $ 377,253
Operating
income
IFRS operating loss $ (10,880 ) $ (23,063 ) $ (48,461 ) $ (30,830 )
Plus: Share-based payment expense 34,921 37,782 124,397 96,111
Plus: Amortization of acquired intangible assets 14,324
9,773 42,956 14,588 Non-IFRS operating income
$ 38,365 $ 24,492 $ 118,892 $ 79,869
Net
income
IFRS net loss $ (14,266 ) $ (17,461 ) $ (93,490 ) $ (21,796 ) Plus:
Share-based payment expense 34,921 37,782 124,397 96,111 Plus:
Amortization of acquired intangible assets 14,324 9,773 42,956
14,588 Less: Income tax effects and adjustments (10,389 ) (11,162 )
11,673 (25,587 ) Non-IFRS net income $ 24,590 $
18,932 $ 85,536 $ 63,316
Net income per
share
IFRS net loss per share - basic $ (0.06 ) $ (0.08 ) $ (0.41 ) $
(0.10 ) Plus: Share-based payment expense 0.15 0.17 0.54 0.44 Plus:
Amortization of acquired intangible assets 0.06 0.04 0.19 0.07
Less: Income tax effects and adjustments (0.04 ) (0.05 ) 0.05
(0.12 ) Non-IFRS net income per share - basic $ 0.11
$ 0.08 $ 0.37 $ 0.29 IFRS net loss per
share - diluted $ (0.06 ) $ (0.08 ) $ (0.41 ) $ (0.10 ) Plus:
Share-based payment expense 0.14 0.17 0.53 0.42 Plus: Amortization
of acquired intangible assets 0.06 0.04 0.18 0.06 Less: Income tax
effects and adjustments (0.04 ) (0.05 ) 0.05 (0.11 )
Non-IFRS net income per share - diluted $ 0.10 $ 0.08
$ 0.35 $ 0.27
Weighted-average
diluted shares outstanding
Weighted-average shares used in computing diluted IFRS net loss per
share 232,221 223,333 230,180 221,034 Plus: Dilution from share
options and RSUs (1) 12,356 12,900 13,185
13,900 Weighted-average shares used in computing diluted
non-IFRS net income per share 244,577 236,233 243,365
234,934
Free cash
flow
IFRS net cash provided by operating activities $ 91,676 $ 72,923 $
229,253 $ 148,784 Less: Capital expenditures (5,293 ) (4,623 )
(12,407 ) (9,921 ) Free cash flow $ 86,383 $ 68,300 $
216,846 $ 138,863 (1) The effects of these
dilutive securities were not included in the IFRS calculation of
diluted net loss per share for the three and nine months ended
March 31, 2018 and 2017 because the effect would have been
anti-dilutive.
Atlassian Corporation Plc
Reconciliation of IFRS to Non-IFRS Results (as a
percentage of total revenues) (unaudited)
Three Months Ended March 31, Nine Months Ended
March 31, 2018 2017 2018
2017
Operating
margin
IFRS operating margin (5 %) (14 %) (8 %) (7 %) Plus: Share-based
payment expense 16 23 20 22 Plus: Amortization of acquired
intangible assets 6 6 7 3 Non-IFRS
operating margin 17 % 15 % 19 % 18 %
Atlassian
Corporation Plc Reconciliation of IFRS to Non-IFRS Financial
Targets (U.S. $) Three Months
Ending Fiscal Year Ending June 30, 2018
June 30, 2018 Revenue $232 million to $234
million $862 million to $864 million IFRS
gross margin 81 % 80 % Plus:
Share-based payment expense 2 2 Plus: Amortization of acquired
intangible assets 2 2
Non-IFRS gross margin
85 % 84 % IFRS operating
margin (5 %) (7 %) Plus:
Share-based payment expense 18 19 Plus: Amortization of acquired
intangible assets 6 7
Non-IFRS operating
margin 19 % 19 % IFRS net
loss per share - diluted ($0.05 ) ($0.44) to
($0.43) Plus: Share-based payment expense 0.17 0.68 Plus:
Amortization of acquired intangible assets 0.06 0.24 Less: Income
tax effects and adjustments (0.06 ) (0.01 )
Non-IFRS net income
per share - diluted $0.12 $0.47 to $0.48
Weighted-average shares used in computing diluted IFRS
net loss per share 234 million to 235 million 231
million to 232 million Dilution from share options and RSUs (1)
12 million 12 million
Weighted-average shares used in computing
diluted non-IFRS net income per share 246 million to 247
million 243 million to 244 million IFRS net
cash provided by operating activities $295 million to $302
million Less: Capital expenditures (30 million)
Free cash
flow $265 million to $272 million (1) The effects
of these dilutive securities are not included in our IFRS
calculation of diluted net loss per share for the three months
ending June 30, 2018 and fiscal year ending June 30, 2018 because
the effect would be anti-dilutive.
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Atlassian Corporation PlcInvestor
Relations ContactIan LeeIR@atlassian.comorMedia
ContactScott Rubinpress@atlassian.com
Atlassian (NASDAQ:TEAM)
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From Apr 2024 to May 2024
Atlassian (NASDAQ:TEAM)
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From May 2023 to May 2024