Quarterly revenue of $299.0 million, up
39% year-over-year
Quarterly IFRS operating margin of (1%)
and non-IFRS operating margin of 25%
Quarterly cash flow from operations of $130.4
million and free cash flow of $122.6 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 2019 ended
December 31, 2018 and released a shareholder letter
on the Investor Relations section of its
website at https://investors.atlassian.com. All
financial results and targets are based on the new revenue
recognition standard IFRS 15, which the company adopted on July 1,
2018.
“The second quarter of fiscal 2019 capped off a fantastic
2018, as we eclipsed $1 billion in calendar year revenue for the
first time,” said Scott Farquhar, Atlassian’s co-CEO and
co-founder. “The quarter also highlighted the growing demand for
Atlassian products to drive digital transformation in businesses
large and small. Our flagship product, Jira Software, surpassed
65,000 customers, and we ended the quarter with more than 138,000
total customers, underscoring the growth opportunity for Jira
just within our installed base.”
Second Quarter Fiscal Year 2019 Financial Highlights:
On an IFRS basis, Atlassian reported:
- Revenue: Total revenue was
$299.0 million for the second quarter of fiscal 2019, up 39% from
$214.6 million for the second quarter of fiscal 2018.
- Operating Loss and Operating
Margin: Operating loss was $3.2 million for
the second quarter of fiscal 2019, compared with $13.0 million
for the second quarter of fiscal 2018. Operating
margin was (1%) for the second quarter of fiscal 2019,
compared with (6%) for the second quarter of fiscal 2018.
- Net Income/Loss and Net Income/Loss
Per Diluted Share: Net income was $45.2 million for
the second quarter of fiscal 2019, compared with a net loss of
$64.2 million for the second quarter of fiscal 2018. Net
income per diluted share was $0.18 for the second
quarter of fiscal 2019, compared with a net loss per
diluted share of $0.28 for the second quarter of fiscal
2018.Net income for the second quarter of fiscal 2019 included a
non-cash gain recorded in “other non-operating income” of $31.3
million, as a result of marking to fair value the exchange
feature of Atlassian’s exchangeable senior notes and the related
capped calls.
- Balance Sheet: Cash
and cash equivalents, and short-term investments at the
end of the second quarter of fiscal
2019 totaled $1.6 billion.
On a non-IFRS basis, Atlassian reported:
- Operating Income and Operating
Margin: Operating income was $74.8 million for
the second quarter of fiscal 2019, compared with $46.7 million
for the second quarter of fiscal 2018. Operating margin
was 25% for the second quarter of fiscal 2019, compared with
22% for the second quarter of fiscal 2018.
- Net Income and Net
Income Per Diluted Share: Net income was $61.7 million for
the second quarter of fiscal 2019, compared
with $32.0 million for the second quarter of fiscal
2018. Net income per diluted share was $0.25 for the second
quarter of fiscal 2019, compared with $0.13 per diluted share for
the second quarter of fiscal 2018.
- Free Cash Flow: Cash flow from
operations for the second quarter of fiscal 2019 was
$130.4 million, while capital expenditures totaled $7.8 million,
resulting in free cash flow of $122.6 million, an increase of 81%
year-over-year. Free cash flow margin for the second quarter of
fiscal 2019 was 41%.
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 second quarter of fiscal 2019 with a total
customer count, on an active subscription or maintenance
agreement basis, of 138,235. Atlassian added 6,551 net new
customers during the quarter; this number benefited from an
increase of 1,396 customers as a result of our acquisition of
Opsgenie during the quarter. Excluding Opsgenie, Atlassian added
5,155 net new customers during the quarter.
- Opsgenie acquisition
closing: On October 1, 2018, Atlassian closed its
acquisition of Opsgenie, whose technology enables companies to
better plan for and respond to IT service disruptions. When
outages occur, Opsgenie’s technology quickly routes alerts to
the appropriate IT teams, speeding diagnosis and resolution, and
reducing downtime. The acquisition was valued at approximately $295
million, of which approximately $259 million was paid in
cash and the remainder in Atlassian restricted shares subject
to continued vesting provisions.
- Acquisition of Butler for
Trello: In December, Atlassian announced the acquisition
of one of Trello’s most popular integrations, Butler for Trello,
bringing the power of workplace automation to Trello
boards. Trello will incorporate Butler’s automation technology
to allow teams of all kinds, such as HR, marketing, and finance, to
codify business processes. With Butler’s technology, Trello users
can take tasks that might require multiple manual steps and
automate them into one click.
- Investor session at Atlassian Summit
2019 - April 10, 2019: Atlassian will hold its Summit
user conference in Las Vegas for the first time, at the
Mandalay Bay South Convention Center, from April 9-11, 2019. The
company will host an Investor session at Summit 2019 on April 10.
General information on Atlassian Summit 2019 can be found
at https://www.atlassian.com/company/events/summit.
Financial Targets:
Atlassian is providing its financial targets for the third
quarter and full fiscal year 2019. The company’s financial targets
are as follows:
- Third Quarter Fiscal Year 2019:
- Total revenue is expected to be in the
range of $303 million to $305 million.
- Gross margin is expected to be
approximately 82% on an IFRS basis and approximately 86% on a
non-IFRS basis.
- Operating margin is expected to be
approximately (10%) on an IFRS basis and approximately 17% on a
non-IFRS basis.
- Net loss per diluted share is expected
to be approximately ($0.14) on an IFRS basis, and net income per
diluted share is expected to be approximately $0.18 on a non-IFRS
basis.
- Weighted average share count is
expected to be in the range of 238 million to 239 million shares
when calculating diluted IFRS net loss per share and in the range
of 248 million to 250 million shares when calculating diluted
non-IFRS net income per share.
- Fiscal Year 2019:
- Total revenue is expected to be in the
range of $1,195 million to $1,199 million.
- Gross margin is expected to be
approximately 83% on an IFRS basis and approximately 86% on a
non-IFRS basis.
- Operating margin is expected to be in
the range of (6%) to (5.5%) on an IFRS basis and in the range of
20% to 20.5% on a non-IFRS basis.
- Net loss per diluted share is expected
to be in the range of ($1.07) to ($1.06) on an IFRS
basis, and net income per diluted share is expected to be in the
range of $0.81 to $0.82 on a non-IFRS basis.
- Weighted average share count is
expected to be in the range of 238 million to 240 million
shares when calculating diluted IFRS net loss per share and in the
range of 248 million to 250 million shares when
calculating diluted non-IFRS net income per share.
- Cash flow from operations is expected
to be in the range of $410 million to $420 million and free cash
flow is expected to be in the range of $370 million to $380
million, which includes capital expenditures that are expected to
be approximately $40 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
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, January 17, 2019
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 10127151).
International callers, please dial 1-412-317-0088 (access
code 10127151).
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 138,000 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 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, anticipated growth,
anticipated benefits of the Opsgenie and Butler for Trello
acquisitions, market 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 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.
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
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 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 December 31, Six Months Ended
December 31, 2018 2017 2018
2017 *As Adjusted *As Adjusted Revenues:
Subscription $ 152,500 $ 97,704 $ 286,565 $ 184,095 Maintenance
97,161 80,489 189,897 156,708 Perpetual license 25,778 21,444
47,617 40,892 Other 23,540 14,941 42,192
28,363 Total revenues 298,979 214,578 566,271 410,058 Cost
of revenues (1) (2) 49,782 43,164 94,967
83,254 Gross profit 249,197 171,414 471,304 326,804
Operating expenses: Research and development (1) (2) 131,364
101,324 255,744 196,186 Marketing and sales (1) (2) 68,950 44,519
121,212 89,611 General and administrative (1) 52,052 38,584
97,709 74,309 Total operating expenses 252,366
184,427 474,665 360,106 Operating loss
(3,169 ) (13,013 ) (3,361 ) (33,302 ) Other non-operating income
(expense), net 32,592 (493 ) (204,656 ) (1,158 ) Finance income
7,659 1,568 14,925 2,823 Finance costs (10,019 ) (7 ) (19,921 ) (16
) Income (loss) before income tax benefit (expense) 27,063 (11,945
) (213,013 ) (31,653 ) Income tax benefit (expense) 18,122
(52,264 ) 15,753 (44,026 ) Net income (loss) $ 45,185
$ (64,209 ) $ (197,260 ) $ (75,679 ) Net income (loss) per share
attributable to ordinary shareholders: Basic $ 0.19 $ (0.28
) $ (0.83 ) $ (0.33 ) Diluted $ 0.18 $ (0.28 ) $ (0.83 ) $
(0.33 ) Weighted-average shares outstanding used to compute net
income (loss) per share attributable to ordinary shareholders:
Basic 237,740 230,208 236,979 229,182
Diluted 247,255 230,208 236,979 229,182
(1) Amounts include share-based
payment expense, as follows:
Three Months Ended December 31, Six Months Ended
December 31, 2018 2017 2018 2017
Cost of revenues $ 3,766 $ 3,180 $ 7,285 $ 6,172 Research and
development 32,976 27,020 59,822 52,991 Marketing and sales 9,850
6,136 17,611 12,345 General and administrative 13,912 9,015 24,166
17,968
(2) Amounts include
amortization of acquired intangible assets, as follows:
Three Months Ended December 31, Six Months Ended
December 31, 2018 2017 2018 2017
Cost of revenues $ 7,060 $ 5,294 $ 12,411 $ 10,587 Research and
development 21 — 21 — Marketing and sales 10,368 9,023 19,356
18,045
* As adjusted to reflect the impact of the
full retrospective adoption of IFRS 15.
Atlassian Corporation Plc
Consolidated Statements of Financial
Position
(U.S. $ in thousands)
(unaudited)
December 31, 2018 June 30, 2018 *As
Adjusted Assets Current assets: Cash and cash
equivalents $ 1,340,589 $ 1,410,339 Short-term investments 303,772
323,134 Trade receivables 71,207 46,141 Current tax receivables
1,423 12,622 Prepaid expenses and other current assets 47,741
29,795 Total current assets 1,764,732
1,822,031 Non-current assets: Property and equipment, net
63,716 51,656 Deferred tax assets 81,055 59,220 Goodwill 506,121
311,943 Intangible assets, net 120,942 63,577 Other non-current
assets 188,378 113,401 Total non-current assets
960,212 599,797 Total assets $ 2,724,944 $
2,421,828
Liabilities Current liabilities: Trade and
other payables $ 119,831 $ 113,105 Current tax liabilities 1,664
172 Provisions 7,504 7,215 Deferred revenue 383,776 324,394
Total current liabilities 512,775 444,886
Non-current liabilities: Deferred tax liabilities 32,976 12,160
Provisions 4,326 4,363 Deferred revenue 33,056 18,477 Exchangeable
senior notes, net 836,403 819,637 Other non-current liabilities
485,660 214,985 Total non-current liabilities
1,392,421 1,069,622 Total liabilities 1,905,196
1,514,508
Equity Share capital 23,844 23,531
Share premium 456,404 454,766 Other capital reserves 665,934
557,100 Other components of equity (1,158 ) (61 ) Accumulated
deficit (325,276 ) (128,016 ) Total equity 819,748 907,320
Total liabilities and equity $ 2,724,944 $ 2,421,828
* As adjusted to reflect the impact of the
full retrospective adoption of IFRS 15.
Atlassian Corporation Plc
Consolidated Statements of Cash
Flows
(U.S. $ in thousands)
(unaudited)
Three Months Ended December 31, Six Months Ended
December 31, 2018 2017 2018
2017 *As Adjusted *As Adjusted Operating
activities Income (loss) before income tax benefit (expense) $
27,063 $ (11,945 ) $ (213,013 ) $ (31,653 ) Adjustments to
reconcile income (loss) before income tax benefit (expense) to net
cash provided by operating activities: Depreciation and
amortization 20,685 20,990 38,100 41,570 Gain on sale of
investments and other assets (2,357 ) (16 ) (2,347 ) (32 ) Net
unrealized gain on investments (47 ) — (47 ) — Net unrealized
foreign currency loss (gain) 530 (142 ) 108 (162 ) Share-based
payment expense 60,504 45,351 108,884 89,476 Net unrealized (gain)
loss on exchange derivative and capped call transactions (31,348 )
— 205,005 — Amortization of debt discount and issuance cost 8,433 —
16,766 — Interest income (7,545 ) (1,568 ) (14,811 ) (2,823 )
Interest expense 1,585 — 3,155 — Changes in assets and liabilities:
Trade receivables (17,769 ) (4,668 ) (23,140 ) (8,387 ) Prepaid
expenses and other assets (18,885 ) (3,023 ) (17,207 ) (328 ) Trade
and other payables, provisions and other non-current liabilities
32,252 5,105 17,974 6,258 Deferred revenue 51,097 21,653 72,745
42,894 Interest received 6,981 1,361 13,721 2,791 (Income tax paid)
tax refunds received, net (743 ) (770 ) 9,472 (2,027 ) Net
cash provided by operating activities 130,436 72,328 215,365
137,577
Investing activities Business combinations, net of
cash acquired (263,554 ) — (263,554 ) — Purchases of intangible
assets — — (850 ) — Purchases of property and equipment (7,807 )
(4,550 ) (18,523 ) (7,114 ) Proceeds from sales of property,
equipment and intangible assets 3,000 — 3,721 — Purchases of
investments (129,948 ) (124,787 ) (194,389 ) (227,128 ) Proceeds
from maturities of investments 93,581 31,119 185,914 81,887
Proceeds from sales of investments 151 32,674 5,672 82,058 Increase
in restricted cash (552 ) (3,009 ) (552 ) (3,141 ) Net cash used in
investing activities (305,129 ) (68,553 ) (282,561 ) (73,438 )
Financing activities Proceeds from exercise of share options
707 1,278 1,704 2,155 Payment of exchangeable senior notes issuance
costs — — (410 ) — Interest paid (3,194 ) — (3,194 ) —
Net cash (used in) provided by financing activities (2,487 )
1,278 (1,900 ) 2,155
Effect of exchange rate
changes on cash and cash equivalents (11 ) (19 ) (654 ) 191
Net (decrease) increase in cash and cash equivalents
(177,191 ) 5,034 (69,750 ) 66,485
Cash and cash equivalents at
beginning of period 1,517,780 305,871 1,410,339
244,420
Cash and cash equivalents at end of
period $ 1,340,589 $ 310,905 $ 1,340,589 $
310,905
* As adjusted to reflect the impact of the
full retrospective adoption of IFRS 15.
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, 2018 2017 2018
2017 *As Adjusted *As Adjusted
Gross
profit
IFRS gross profit $ 249,197 $ 171,414 $ 471,304 $ 326,804 Plus:
Share-based payment expense 3,766 3,180 7,285 6,172 Plus:
Amortization of acquired intangible assets 7,060 5,294
12,411 10,587 Non-IFRS gross profit $ 260,023
$ 179,888 $ 491,000 $ 343,563
Operating
income
IFRS operating loss $ (3,169 ) $ (13,013 ) $ (3,361 ) $ (33,302 )
Plus: Share-based payment expense 60,504 45,351 108,884 89,476
Plus: Amortization of acquired intangible assets 17,449
14,317 31,788 28,632 Non-IFRS operating income
$ 74,784 $ 46,655 $ 137,311 $ 84,806
Net
income
IFRS net income (loss) $ 45,185 $ (64,209 ) $ (197,260 ) $ (75,679
) Plus: Share-based payment expense 60,504 45,351 108,884 89,476
Plus: Amortization of acquired intangible assets 17,449 14,317
31,788 28,632 Plus: Non-coupon impact related to exchangeable
senior notes and capped calls (22,915 ) — 221,771 — Less: Income
tax effects and adjustments (38,528 ) 36,564 (54,262 )
22,062 Non-IFRS net income $ 61,695 $ 32,023 $
110,921 $ 64,491
Net income per
share
IFRS net income (loss) per share - diluted $ 0.18 $ (0.28 ) $ (0.83
) $ (0.33 ) Plus: Share-based payment expense 0.24 0.20 0.47 0.39
Plus: Amortization of acquired intangible assets 0.07 0.06 0.13
0.12 Plus: Non-coupon impact related to exchangeable senior notes
and capped calls (0.08 ) — 0.90 — Less: Income tax effects and
adjustments (0.16 ) 0.15 (0.22 ) 0.09 Non-IFRS net
income per share - diluted $ 0.25 $ 0.13 $ 0.45
$ 0.27
Weighted-average
diluted shares outstanding
Weighted-average shares used in computing diluted IFRS net income
(loss) per share 247,255 230,208 236,979 229,182 Plus: Dilution
from share options and RSUs (1) — 13,170 10,066
13,124 Weighted-average shares used in computing
diluted non-IFRS net income per share 247,255 243,378
247,045 242,306
Free cash
flow
IFRS net cash provided by operating activities $ 130,436 $ 72,328 $
215,365 $ 137,577 Less: Capital expenditures (7,807 ) (4,550 )
(18,523 ) (7,114 ) Free cash flow $ 122,629 $ 67,778
$ 196,842 $ 130,463
* As adjusted to reflect the impact of the
full retrospective adoption of IFRS 15.
(1) The effects of these dilutive securities were not
included in the IFRS calculation of diluted net loss per share for
the three months ended December 31, 2017 and the six months ended
December 31, 2018 and 2017 because the effect would have been
anti-dilutive.
Atlassian Corporation Plc
Reconciliation of IFRS to Non-IFRS
Financial Targets
(U.S. $)
Three Months EndingMarch 31, 2019 Fiscal
Year EndingJune 30, 2019 Revenue $303 million
to $305 million $1,195 million to $1,199 million
IFRS gross margin 82% 83% Plus: Share-based
payment expense 2 1 Plus: Amortization of acquired intangible
assets 2 2
Non-IFRS gross margin 86% 86%
IFRS operating margin (10%) (6%) to
(5.5%) Plus: Share-based payment expense 23 21 Plus:
Amortization of acquired intangible assets 4 5
Non-IFRS
operating margin 17% 20% to 20.5% IFRS
net loss per share - diluted ($0.14) ($1.07) to
($1.06) Plus: Share-based payment expense 0.29 1.01 Plus:
Amortization of acquired intangible assets 0.05 0.22 Plus:
Non-coupon impact related to exchangeable senior notes and capped
calls 0.03 0.97 Less: Income tax effects and adjustments (0.05)
(0.32)
Non-IFRS net income per share - diluted $0.18
$0.81 to $0.82 Weighted-average shares used in
computing diluted IFRS net loss per share 238 million to 239
million 238 million to 240 million Dilution from share
options and RSUs (1) 10 million to 11 million 10 million
Weighted-average shares used in computing diluted non-IFRS net
income per share 248 million to 250 million 248
million to 250 million IFRS net cash provided by
operating activities $410 million to $420 million Less:
Capital expenditures (40 million)
Free cash flow $370
million to $380 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 March 31, 2019 and
fiscal year ending June 30, 2019 because the effect would be
anti-dilutive.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190117005779/en/
Investor Relations ContactIan
LeeIR@atlassian.com
Media ContactGabe Madwaypress@atlassian.com
Atlassian (NASDAQ:TEAM)
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From Mar 2024 to Apr 2024
Atlassian (NASDAQ:TEAM)
Historical Stock Chart
From Apr 2023 to Apr 2024
