Quarterly revenue of $501 million, up 23%
year-over-year
Quarterly subscription revenue of $311 million,
up 36% year-over-year
Quarterly IFRS operating margin of 6% and
non-IFRS operating margin of 29%
Quarterly cash flow from operations of $200
million and free cash flow of $180 million
Atlassian Corporation Plc (NASDAQ: TEAM), a leading provider of
team collaboration and productivity software, today announced
financial results for its second quarter of fiscal year 2021 ended
December 31, 2020 and released a shareholder letter available on
Atlassian’s Work Life blog at
http://atlassian.com/blog/announcements/shareholder-letter-q2fy21.
The shareholder letter will also be posted to the Investor
Relations section of Atlassian’s website at
https://investors.atlassian.com.
“Our Q2 results reflect steady progress towards our long-term
goals as we crossed $500 million in quarterly revenue for the first
time, up 23% year-over-year, and drove subscription revenue growth
of 36% year-over-year,” said Scott Farquhar, Atlassian’s co-founder
and co-CEO. “Total customers rose to 194,000, an increase of over
11,600 during the quarter. This increase is a new record
illustrating our progress and commitment to continuous customer
innovation in the cloud.”
“Through the strength of our cloud platform, we’re delivering
customers powerful new products like Jira Service Management, which
unleashes the potential of technical teams in the ITSM market,“
said Mike Cannon-Brookes, Atlassian’s co-founder and co-CEO. “This
is one example of the value we deliver to organizations large and
small across the Fortune 500,000 to power their most
mission-critical workflows. We’re excited to continue that momentum
in the second half of fiscal year 2021.”
Second Quarter Fiscal Year 2021 Financial Highlights:
On an IFRS basis, Atlassian reported:
- Revenue: Total revenue was $501.4 million for the second
quarter of fiscal year 2021, up 23% from $408.7 million for the
second quarter of fiscal year 2020.
- Operating Income and Operating Margin: Operating income
was $27.7 million for the second quarter of fiscal year 2021,
compared with operating income of $41.8 million for the second
quarter of fiscal year 2020. Operating margin was 6% for the second
quarter of fiscal year 2021, compared with 10% for the second
quarter of fiscal year 2020.
- Net Income (Loss) and Net Income (Loss) Per Diluted
Share: Net loss was $621.5 million for the second quarter of
fiscal year 2021, compared with net income of $124.1 million for
the second quarter of fiscal year 2020. Net loss per diluted share
was $2.49 for the second quarter of fiscal year 2021, compared with
net income per diluted share of $0.49 for the second quarter of
fiscal year 2020. Net loss for the second quarter of fiscal year
2021 included a charge of $539.1 million recorded in “other
non-operating income (expense), net,” compared with a gain of
$106.4 million in the second quarter of fiscal year 2020 relating
to Atlassian’s exchangeable senior notes and related capped calls.
Of this amount, a loss of $440.4 million is related to marking to
fair value the exchange feature of these notes and related capped
calls, that remain outstanding as of quarter end, and in addition,
a net loss of $98.7 million is related to the net impact of
repurchasing a portion of the notes and unwinding of the related
capped calls during this quarter. Further, Atlassian took an $87.3
million charge related to accelerated amortization of the
unamortized notes discount and issuance costs.
- Balance Sheet: Cash and cash equivalents, and short-term
investments at the end of the second quarter of fiscal year 2021
totaled $1.8 billion. During the second quarter of fiscal year
2021, the company used $671.5 million in cash to repurchase a
portion of its outstanding notes in privately negotiated
transactions and received $72.8 million in cash from the unwinding
of the related capped calls. The net impact resulted in cash
outflows of $598.7 million, which is reflected in cash used in
financing activities on our statement of cash flows.
On a non-IFRS basis, Atlassian reported:
- Operating Income and Operating Margin: Operating income
was $143.2 million for the second quarter of fiscal year 2021,
compared with operating income of $125.4 million for the second
quarter of fiscal year 2020. Operating margin was 29% for the
second quarter of fiscal year 2021, compared with 31% for the
second quarter of fiscal year 2020.
- Net Income and Net Income Per Diluted Share: Net income
was $95.3 million for the second quarter of fiscal year 2021,
compared with net income of $93.9 million for the second quarter of
fiscal year 2020. Net income per diluted share was $0.37 for the
second quarter for both fiscal year 2021 and 2020.
- Free Cash Flow: Cash flow from operations was $200.5
million and free cash flow was $179.8 million for the second
quarter of fiscal year 2021. Free cash flow margin for the second
quarter of fiscal year 2021 was 36%.
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:
- Jira Service Management Launch: In November 2020,
Atlassian introduced Jira Service Management, its cloud-based
end-to-end IT service management (ITSM) solution. The line between
IT and software development is blurring, and Jira is the only
solution that brings software and IT operations teams together on a
unified platform. Jira Service Management integrates several
capabilities into one holistic solution including: service desk;
workflow management; incident management; real-time-communications;
and asset and configuration management. By serving IT teams,
Atlassian more than doubles its addressable opportunity with
technical teams from 45 million software team members to 100
million technical workers.
- Cloud Customer Migration Announcement: In October 2020,
Atlassian took the next step in its multi-year cloud journey by
announcing changes to its on-premises offerings. Atlassian
announced the end of new server license sales beginning February 2,
2021, and the end of support for all server products as of February
2, 2024. In conjunction with this announcement, Atlassian
introduced a robust migration program, including tools, incentives,
and customer support. For data center customers, Atlassian
announced new capabilities and integrations that make it easier for
cloud and data center products to work together.
- Sustainability Annual Report and Net-Zero Commitment: In
December 2020, Atlassian released its second annual sustainability
report, announcing the achievement of operating on 100% renewable
energy. Atlassian also made the commitment to achieve net-zero
emissions by 2050 in line with the Paris Agreement and the
company’s commitment to the Business Ambition for 1.5°C campaign.
These goals have been approved by the Science Based Targets
Initiative Steering Committee.
- Customer Growth: Atlassian ended its second quarter of
fiscal year 2021 with a total customer count, on an active
subscription or maintenance agreement basis, of 194,334. Atlassian
added a record 11,617 net new customers during the quarter.
- Atlassian Team 2021: Atlassian will hold its premier
customer event on April 28th and 29th as a virtual conference. Team
2021 is the ultimate digital experience for developers, creators,
and innovators of every industry. General information on Team 2021
can be found at https://www.atlassian.com/company/events/team.
Financial Targets:
Atlassian is providing its financial targets for the third
quarter of fiscal year 2021. The company’s financial targets are as
follows:
Third Quarter Fiscal Year 2021:
- Total revenue is expected to be in the range of $475 million to
$490 million.
- Gross margin is expected to be approximately 82% 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 16% on a non-IFRS basis.
- Net loss per diluted share is expected to be in the range of
($0.15) to ($0.14) on an IFRS basis, and net income per diluted
share is expected to be in the range of $0.20 to $0.21 on a
non-IFRS basis.
- Weighted average share count is expected to be in the range of
250 million to 252 million shares when calculating diluted IFRS net
loss per share and in the range of 255 million to 257 million
shares when calculating diluted non-IFRS net income per share.
For additional commentary regarding financial targets, please
see Atlassian’s second quarter fiscal year 2021 shareholder letter
dated January 28, 2021.
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 Details:
A detailed shareholder letter is available on Atlassian’s Work
Life blog at
http://atlassian.com/blog/announcements/shareholder-letter-q2fy21,
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, January 28, 2021 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.
- 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 6576384). International callers, please
dial 1-416-621-4642 (access code 6576384).
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 194,000
customers, across large and small organizations - including Bank of
America, Redfin, NASA, Verizon, and Dropbox - 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, 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 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, environmental goals, 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 discrete tax impact
resulting from a non-recurring transaction.
- 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 payments of lease
obligations.
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.
- Net loss on settlements of exchangeable senior notes and capped
call transactions.
- The related income tax effects on these items, and discrete tax
impact resulting from a non-recurring transaction.
- Purchases of property and equipment 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 discrete tax impact
resulting from a non-recurring transaction 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 discrete
tax impact resulting from a non-recurring transaction 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 and investors
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 December
31,
Six Months Ended December
31,
2020
2019
2020
2019
Revenues:
Subscription
$
310,675
$
228,684
$
588,639
$
429,779
Maintenance
131,276
116,877
258,970
226,948
Perpetual license
22,124
29,051
44,261
53,795
Other
37,284
34,113
68,995
61,593
Total revenues
501,359
408,725
960,865
772,115
Cost of revenues (1) (2)
79,482
65,761
153,166
128,040
Gross profit
421,877
342,964
807,699
644,075
Operating expenses:
Research and development (1) (2)
241,064
172,420
473,299
348,302
Marketing and sales (1) (2)
77,151
69,263
147,437
137,306
General and administrative (1)
75,949
59,440
147,318
121,181
Total operating expenses
394,164
301,123
768,054
606,789
Operating income
27,713
41,841
39,645
37,286
Other non-operating income (expense),
net
(545,749
)
104,214
(572,020
)
186,449
Finance income
2,112
8,100
4,702
17,212
Finance costs
(91,448
)
(12,364
)
(104,023
)
(24,691
)
Income (loss) before income tax
expense
(607,372
)
141,791
(631,696
)
216,256
Income tax expense
(14,156
)
(17,717
)
(11,386
)
(22,862
)
Net income (loss)
$
(621,528
)
$
124,074
$
(643,082
)
$
193,394
Net income (loss) per share attributable
to ordinary shareholders:
Basic
$
(2.49
)
$
0.51
$
(2.59
)
$
0.79
Diluted
$
(2.49
)
$
0.49
$
(2.59
)
$
0.77
Weighted-average shares outstanding used
to compute net income (loss) per share attributable to ordinary
shareholders:
Basic
249,188
244,203
248,601
243,497
Diluted
249,188
250,960
248,601
250,950
(1) Amounts include share-based payment expense, as follows:
Three Months Ended December 31,
Six Months Ended December 31,
2020
2019
2020
2019
Cost of revenues
$
6,801
$
4,407
$
12,057
$
9,119
Research and development
73,085
45,978
134,536
94,917
Marketing and sales
11,666
10,874
18,450
21,505
General and administrative
16,140
9,179
28,380
22,193
(2) Amounts include amortization of
acquired intangible assets, as follows:
Three Months Ended December 31,
Six Months Ended December 31,
2020
2019
2020
2019
Cost of revenues
$
5,413
$
9,173
$
10,832
$
17,661
Research and development
42
42
83
83
Marketing and sales
2,317
3,925
4,616
7,611
Atlassian Corporation
Plc
Consolidated Statements of
Financial Position
(U.S. $ in thousands)
December 31, 2020
June 30, 2020
(unaudited)
Assets
Current assets:
Cash and cash equivalents
$
1,251,715
$
1,479,969
Short-term investments
534,498
676,072
Trade receivables
157,543
112,019
Tax receivables
2,582
1,509
Derivative assets
263,622
327,487
Prepaid expenses and other current
assets
54,653
46,730
Total current assets
2,264,613
2,643,786
Non-current assets:
Property and equipment, net
103,861
97,648
Deferred tax assets
50,024
35,351
Goodwill
686,858
645,140
Intangible assets, net
123,759
129,690
Right-of-use assets, net
204,004
217,683
Other non-current assets
128,071
124,774
Total non-current assets
1,296,577
1,250,286
Total assets
$
3,561,190
$
3,894,072
Liabilities
Current liabilities:
Trade and other payables
$
189,345
$
202,570
Tax liabilities
27,727
19,583
Provisions
22,986
14,291
Deferred revenue
652,330
573,813
Lease obligations
39,297
34,743
Derivative liabilities
1,418,559
1,284,596
Exchangeable senior notes, net
735,660
889,183
Total current liabilities
3,085,904
3,018,779
Non-current liabilities:
Deferred tax liabilities
43,652
31,304
Provisions
10,631
9,493
Deferred revenue
33,951
27,192
Lease obligations
215,566
229,825
Other non-current liabilities
2,346
2,173
Total non-current liabilities
306,146
299,987
Total liabilities
3,392,050
3,318,766
Equity
Share capital
24,963
24,744
Share premium
461,002
459,892
Other capital reserves
1,324,489
1,130,918
Other components of equity
118,160
76,144
Accumulated deficit
(1,759,474
)
(1,116,392
)
Total equity
169,140
575,306
Total liabilities and equity
$
3,561,190
$
3,894,072
Atlassian Corporation
Plc
Consolidated Statements of
Cash Flows
(U.S. $ in thousands)
(unaudited)
Three Months Ended December
31,
Six Months Ended December
31,
2020
2019
2020
2019
Operating activities
Income (loss) before income tax
expense
$
(607,372
)
$
141,791
$
(631,696
)
$
216,256
Adjustments to reconcile income (loss)
before income tax expense to net cash provided by operating
activities:
Depreciation and amortization
13,807
17,753
27,218
34,410
Depreciation of right-of-use assets
9,378
8,869
18,592
17,227
Loss (gain) on sale of investments,
disposal of assets and other
51
(217
)
299
(264
)
Net unrealized loss on investments
750
—
750
—
Interest expense
3,594
3,516
6,996
7,099
Net unrealized foreign currency loss
4,874
3,183
10,441
946
Share-based payment expense
107,692
70,438
193,423
147,734
Net loss (gain) on exchange derivative and
capped call transactions
539,102
(106,423
)
566,598
(188,526
)
Amortization of debt discount and issuance
cost
87,854
8,848
97,027
17,590
Interest income
(2,112
)
(8,099
)
(4,702
)
(17,211
)
Changes in assets and liabilities:
Trade receivables
(37,145
)
(24,276
)
(45,523
)
(41,113
)
Prepaid expenses and other assets
4,057
2,227
(7,361
)
(6,370
)
Trade and other payables, provisions and
other non-current liabilities
32,823
26,320
(14,561
)
(5,509
)
Deferred revenue
61,297
77,223
83,933
108,779
Interest received
3,298
7,591
7,454
16,270
Income tax paid, net
(21,486
)
(10,379
)
(28,961
)
(12,762
)
Net cash provided by operating
activities
200,462
218,365
279,927
294,556
Investing activities
Business combinations, net of cash
acquired
(9,700
)
(37,168
)
(42,164
)
(37,983
)
Purchases of property and equipment
(9,548
)
(7,010
)
(17,365
)
(13,123
)
Purchases of investments
(36,013
)
(263,122
)
(69,265
)
(586,878
)
Proceeds from maturities of
investments
120,627
70,569
195,304
193,018
Proceeds from sales of investments
40,607
82,942
47,694
141,961
Increase in restricted cash
(2,162
)
—
(2,162
)
—
Payment of deferred consideration
—
—
(185
)
—
Net cash provided by (used in) investing
activities
103,811
(153,789
)
111,857
(303,005
)
Financing activities
Proceeds from exercise of share
options
225
331
1,147
986
Payments of lease obligations
(11,139
)
(9,357
)
(22,235
)
(17,027
)
Payment of issuance costs for credit
facility
(4,445
)
—
(4,445
)
—
Interest paid
(3,294
)
(3,125
)
(3,294
)
(3,125
)
Repayment of exchangeable senior notes
(671,489
)
—
(671,497
)
—
Proceeds from settlement of capped call
transactions
72,776
—
72,776
—
Net cash used in financing activities
(617,366
)
(12,151
)
(627,548
)
(19,166
)
Effect of exchange rate changes on cash
and cash equivalents
4,546
109
7,510
(1,101
)
Net increase (decrease) in cash and
cash equivalents
(308,547
)
52,534
(228,254
)
(28,716
)
Cash and cash equivalents at beginning
of period
1,560,262
1,187,191
1,479,969
1,268,441
Cash and cash equivalents at end of
period
$
1,251,715
$
1,239,725
$
1,251,715
$
1,239,725
Atlassian Corporation
Plc
Reconciliation of IFRS to
Non-IFRS Results
(U.S. $ and shares in
thousands, except per share data)
(unaudited)
Three Months Ended December
31,
Six Months Ended December
31,
2020
2019
2020
2019
Gross profit
IFRS gross profit
$
421,877
$
342,964
$
807,699
$
644,075
Plus: Share-based payment expense
6,801
4,407
12,057
9,119
Plus: Amortization of acquired intangible
assets
5,413
9,173
10,832
17,661
Non-IFRS gross profit
$
434,091
$
356,544
$
830,588
$
670,855
Operating income
IFRS operating income
$
27,713
$
41,841
$
39,645
$
37,286
Plus: Share-based payment expense
107,692
70,438
193,423
147,734
Plus: Amortization of acquired intangible
assets
7,772
13,140
15,531
25,355
Non-IFRS operating income
$
143,177
$
125,419
$
248,599
$
210,375
Net income
IFRS net income (loss)
$
(621,528
)
$
124,074
$
(643,082
)
$
193,394
Plus: Share-based payment expense
107,692
70,438
193,423
147,734
Plus: Amortization of acquired intangible
assets
7,772
13,140
15,531
25,355
Plus: Non-coupon impact related to
exchangeable senior notes and capped calls
626,956
(97,575
)
663,625
(170,936
)
Less: Income tax effects and
adjustments
(25,581
)
(16,182
)
(57,415
)
(31,645
)
Non-IFRS net income
$
95,311
$
93,895
$
172,082
$
163,902
Net income per share
IFRS net income (loss) per share -
diluted
$
(2.49
)
$
0.49
$
(2.59
)
$
0.77
Plus: Share-based payment expense
0.44
0.28
0.78
0.59
Plus: Amortization of acquired intangible
assets
0.04
0.05
0.07
0.10
Plus: Non-coupon impact related to
exchangeable senior notes and capped calls
2.48
(0.39
)
2.63
(0.68
)
Less: Income tax effects and
adjustments
(0.10
)
(0.06
)
(0.21
)
(0.13
)
Non-IFRS net income per share -
diluted
$
0.37
$
0.37
$
0.68
$
0.65
Weighted-average diluted shares
outstanding
Weighted-average shares used in computing
diluted IFRS net loss per share
249,188
250,960
248,601
250,950
Plus: Dilution from share options and RSUs
(1)
5,357
—
5,457
—
Weighted-average shares used in computing
diluted non-IFRS net income per share
254,545
250,960
254,058
250,950
Free cash flow
IFRS net cash provided by operating
activities
$
200,462
$
218,365
$
279,927
$
294,556
Less: Capital expenditures
(9,548
)
(7,010
)
(17,365
)
(13,123
)
Less: Payments of lease obligations
(11,139
)
(9,357
)
(22,235
)
(17,027
)
Free cash flow
$
179,775
$
201,998
$
240,327
$
264,406
(1) The effects of these dilutive securities were not included
in the IFRS calculation of diluted net loss per share for the three
and six months ended December 31, 2020 because the effect would
have been anti-dilutive.
Atlassian Corporation
Plc
Reconciliation of IFRS to
Non-IFRS Financial Targets
(U.S. $)
Three Months Ending
March 31, 2021
Revenue
$475 million to $490
million
IFRS gross margin
82%
Plus: Share-based payment expense
1
Plus: Amortization of acquired intangible
assets
1
Non-IFRS gross margin
84%
IFRS operating margin
(7%)
Plus: Share-based payment expense
21
Plus: Amortization of acquired intangible
assets
2
Non-IFRS operating margin
16%
IFRS net loss per share -
diluted
($0.15) to ($0.14)
Plus: Share-based payment expense
0.39
Plus: Amortization of acquired intangible
assets
0.03
Plus: Non-coupon impact related to
exchangeable senior notes and capped calls
0.03
Less: Income tax effects and
adjustments
(0.10)
Non-IFRS net income per share -
diluted
$0.20 to $0.21
Weighted-average shares used in
computing diluted IFRS net loss per share
250 million to 252
million
Dilution from share options and RSUs
(1)
5 million
Weighted-average shares used in
computing diluted non-IFRS net income per share
255 million to 257
million
(1) The effects of these dilutive securities are not included in
the IFRS calculation of diluted net loss per share for the three
months ending March 31, 2021 because the effect would be
anti-dilutive.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210128006034/en/
Investor Relations Contact Martin Lam & Matt
Sonefeldt IR@atlassian.com
Media Contact Jake Standish press@atlassian.com
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