Quarterly revenue of $614 million, up 34%
year-over-year
Quarterly subscription revenue of $435 million,
up 57% year-over-year
Quarterly IFRS operating margin of 6% and
non-IFRS operating margin of 27%
Quarterly cash flow from operations of $78
million and free cash flow of $59 million
Atlassian Corporation Plc (NASDAQ: TEAM), a leading provider of
team collaboration and productivity software, today announced
financial results for its first quarter of fiscal year 2022 ended
September 30, 2021 and released a shareholder letter available on
Atlassian’s Work Life blog at
http://atlassian.com/blog/announcements/shareholder-letter-q1fy22.
The shareholder letter was also posted to the Investor Relations
section of Atlassian’s website at
https://investors.atlassian.com.
“When Scott and I started Atlassian almost 20 years ago, we
wanted to create an amazing company where people love coming to
work every day,” said Mike Cannon-Brookes, Atlassian’s co-founder
and co-CEO. “We are beyond thrilled to be recognized amongst the
top 25 companies in the World’s Best Workplaces 2021 by Great Place
to Work. This is a testament to the true stewards of our culture —
the many thousands of Atlassians we have around the world who live
our values every day.”
“We continue to deliver value to our customers and innovate
across all three of our core markets,” said Scott Farquhar,
Atlassian’s co-founder and co-CEO. “One example we’re most proud of
is Jira Service Management being named the sole visionary in
Gartner’s 2021 Magic Quadrant for IT Service Management Tools in
its inaugural year in market.”
First Quarter Fiscal Year 2022 Financial Highlights:
On an IFRS basis, Atlassian reported:
- Revenue: Total revenue was $614.0 million for the first
quarter of fiscal year 2022, up 34% from $459.5 million for the
first quarter of fiscal year 2021.
- Operating Income and Operating Margin: Operating income
was $39.6 million for the first quarter of fiscal year 2022,
compared with an operating income of $11.9 million for the first
quarter of fiscal year 2021. Operating margin was 6% for the first
quarter of fiscal year 2022, compared with 3% for the first quarter
of fiscal year 2021.
- Net Loss and Net Loss Per Diluted Share: Net loss was
$400.1 million for the first quarter of fiscal year 2022, compared
with a net loss of $21.6 million for the first quarter of fiscal
year 2021. Net loss per diluted share was $1.59 for the first
quarter of fiscal year 2022, compared with a net loss per diluted
share of $0.09 for the first quarter of fiscal year 2021.
Net loss for the first quarter of fiscal year
2022 included a charge of $424.5 million recorded in “other
non-operating expense, net,” compared with a charge of $27.5
million in the first quarter of fiscal year 2021 relating to
Atlassian’s exchangeable senior notes and related capped calls. Of
this amount, a loss of $370.4 million is related to marking to fair
value the exchange feature of the notes and related capped calls
that remain outstanding as of quarter end. In addition, a net loss
of $54.1 million is related to the net impact of settling the early
exchange requests of the notes and unwinding of the related capped
calls during this quarter.
- Balance Sheet: Cash and cash equivalents, and short-term
investments at the end of the first quarter of fiscal year 2022
totaled $1.6 billion.
During the first quarter of fiscal year 2022,
Atlassian drew $650.0 million from the term loan facility, used
$314.3 million in cash to settle the early exchange requests of the
notes and received $31.0 million in cash from the unwinding of the
related capped calls. The net impact resulted in cash inflows of
$366.7 million, which is reflected in cash provided by (used in)
financing activities on our Consolidated Statements of Cash
Flows.
On a non-IFRS basis, Atlassian reported:
- Operating Income and Operating Margin: Operating income
was $166.7 million for the first quarter of fiscal year 2022,
compared with operating income of $105.4 million for the first
quarter of fiscal year 2021. Operating margin was 27% for the first
quarter of fiscal year 2022, compared with 23% for the first
quarter of fiscal year 2021.
- Net Income and Net Income Per Diluted Share: Net income
was $118.3 million for the first quarter of fiscal year 2022,
compared with net income of $76.8 million for the first quarter of
fiscal year 2021. Net income per diluted share was $0.46 for the
first quarter of fiscal year 2022, compared with $0.30 for the
first quarter of fiscal year 2021.
- Free Cash Flow: Cash flow from operations was $78.4
million and free cash flow was $59.3 million for the first quarter
of fiscal year 2022. Free cash flow margin for the first quarter of
fiscal year 2022 was 10%.
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:
- Ranked Among the Top 25 Companies Globally by Great Place to
Work: Atlassian was included in the list of the World’s Best
Workplaces 2021 by Great Place to Work. Atlassian is proud to be
recognized for its efforts in creating a culture in which,
regardless of where employees are located across the globe, they
feel connected to the company, its values, and their work.
- Sustainability Annual Report: Atlassian released its
fiscal year 2021 sustainability report, announcing another year of
operating on 100% renewable energy and its ambitions to achieve
net-zero emissions by 2050. Atlassian continues its commitment to
protecting customer privacy, executing on its diversity, equity,
and inclusion (DEI) strategy, and giving back through the
philanthropic programs run by the Atlassian Foundation. Atlassian
recently announced it had moved its climate ambitions forward and
is now targeting net-zero emissions by 2040.
- Recognized in Magic Quadrant for IT Service Management:
Atlassian was named a Visionary in Gartner’s 2021 Magic Quadrant
for IT Service Management (ITSM) Tools. Atlassian’s Jira Service
Management solution focuses on the convergence of digital
experiences for development, operational, and business teams. Over
35,000 customers rely on Jira Service Management for modern,
high-velocity ITSM.
- Partnership with Snyk: Atlassian deepened its
partnership with Snyk, a leader in developer security and a vital
part of the Atlassian ecosystem, with an investment in Snyk’s
Series F financing. Snyk integrates with Jira Software and
Bitbucket, infusing developers’ workflows with a security-first
mindset and protecting their code against issues like open source
vulnerabilities that may arise during the development process.
- Trusted Cloud Principles Commitment: Atlassian joined
other technology companies to establish the Trusted Cloud
Principles - a commitment to protect the rights of its customers.
With this initiative, Atlassian along with other tech leaders such
as Amazon, Google, and Microsoft, commit to working with
governments to ensure digital connectivity among nations, protect
privacy and data security in the cloud, and promote public
safety.
- Customer Growth: Atlassian ended its first quarter of
fiscal year 2022 with a total customer count, on an active
subscription or maintenance agreement basis, of 216,500 customers,
adding 11,746 net new customers during the quarter. It is important
to note that the definition of a customer was updated during the
quarter primarily to exclude single user customers.
- Expanded Board of Directors: Atlassian appointed
Michelle Zatlyn to its board of directors. Michelle is the
co-Founder, COO, and President of Cloudflare, Inc., the security,
performance, and reliability company helping to build a better
Internet.
- Executive Leadership Promotions: Anu Bharadwaj was named
Atlassian’s Chief Operating Officer and Joff Redfern was named
Atlassian’s Chief Product Officer. Anu joined Atlassian in January
2014 and was most recently Head of Enterprise and Cloud Platform.
Joff joined Atlassian in June 2017 and was most recently Vice
President of Product.
- CFO Transition: Atlassian also announced that James Beer
will retire as CFO at the end of June 2022. James joined as CFO in
February 2018 and has played a critical role in helping the company
scale. When James joined Atlassian, the company had 2,500
employees, 119,000 customers, and would generate revenue of $881
million in fiscal year 2018. As of the end of the first quarter of
fiscal year 2022, the company had nearly 7,000 employees, over
216,000 customers, and is on pace for an annualized revenue run
rate of $2.5 billion. Atlassian has already begun an external
search for a CFO to succeed James.
“James has been invaluable in driving
operational and financial rigor and helping Atlassian scale,” said
Scott Farquhar. “Mike and I are both grateful for his valued
leadership and friendship over the years. While we’re disappointed
to see James leave us, we wish him the very best in his
retirement.”
“After 18 years as a public company CFO in
three different industries and having celebrated my 60th birthday
earlier this year, it is the right time for me to retire and pass
the baton to the next leader,” said James Beer. “Atlassian has
terrific momentum, including the contributions of a very strong
finance team, and is exceptionally well positioned to continue
executing on its mission. I’m excited about what’s happening across
the company and the raft of opportunities ahead. I’m focused on
creating a smooth and seamless transition to my successor and am
looking forward to continuing to help drive the future of teamwork
over the next few quarters.”
Financial Targets:
Atlassian is providing its financial targets for the second
quarter of fiscal year 2022 as follows:
Second Quarter Fiscal Year 2022:
- Total revenue is expected to be in the range of $630 million to
$645 million.
- Gross margin is expected to be approximately 82% on an IFRS
basis and approximately 85% on a non-IFRS basis.
- Operating margin is expected to be in the range of (15%) to
(14%) on an IFRS basis and in the range of 22% to 23% on a non-IFRS
basis.
- Net loss per diluted share is expected to be in the range of
($0.42) to ($0.39) on an IFRS basis, and net income per diluted
share is expected to be in the range of $0.35 to $0.38 on a
non-IFRS basis.
- Weighted average share count is expected to be in the range of
251 million to 253 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 first quarter fiscal year 2022 shareholder letter
dated October 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-q1fy22,
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, October 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.
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 200,000
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,
sustainability, partnerships, 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 September
30,
2021
2020
Revenues:
Subscription
$
435,296
$
277,964
Maintenance
130,590
127,694
Other
48,138
53,848
Total revenues
614,024
459,506
Cost of revenues (1) (2)
98,018
73,684
Gross profit
516,006
385,822
Operating expenses:
Research and development (1) (2)
279,846
232,235
Marketing and sales (1) (2)
102,928
70,286
General and administrative (1)
93,586
71,369
Total operating expenses
476,360
373,890
Operating income
39,646
11,932
Other non-operating expense, net
(424,933
)
(26,271
)
Finance income
280
2,590
Finance costs
(7,111
)
(12,575
)
Loss before income tax benefit
(expense)
(392,118
)
(24,324
)
Income tax benefit (expense)
(7,984
)
2,770
Net loss
$
(400,102
)
$
(21,554
)
Net loss per share attributable to
ordinary shareholders:
Basic
$
(1.59
)
$
(0.09
)
Diluted
$
(1.59
)
$
(0.09
)
Weighted-average shares outstanding used
to compute net loss per share attributable to ordinary
shareholders:
Basic
252,106
248,015
Diluted
252,106
248,015
(1) Amounts include share-based payment expense, as follows:
Three Months Ended September
30,
2021
2020
Cost of revenues
$
7,845
$
5,256
Research and development
72,602
61,451
Marketing and sales
18,376
6,784
General and administrative
20,152
12,240
(2) Amounts include amortization of acquired intangible assets,
as follows:
Three Months Ended September
30,
2021
2020
Cost of revenues
$
5,689
$
5,419
Research and development
94
41
Marketing and sales
2,271
2,299
Atlassian Corporation
Plc
Consolidated Statements of
Financial Position
(U.S. $ in thousands)
September 30, 2021
June 30, 2021
(unaudited)
Assets
Current assets:
Cash and cash equivalents
$
1,507,418
$
919,227
Short-term investments
94,415
313,001
Trade receivables
186,637
173,473
Derivative assets
105,211
127,486
Prepaid expenses and other current
assets
69,197
50,654
1,962,878
1,583,841
Assets held for sale
47,098
43,665
Total current assets
2,009,976
1,627,506
Non-current assets:
Property and equipment, net
66,604
66,221
Deferred tax assets
30,394
36,174
Goodwill
725,039
725,758
Intangible assets, net
116,537
124,590
Right-of-use assets, net
287,186
205,300
Other non-current assets
181,388
159,795
Total non-current assets
1,407,148
1,317,838
Total assets
$
3,417,124
$
2,945,344
Liabilities
Current liabilities:
Trade and other payables
$
202,330
$
266,497
Tax liabilities
32,107
42,051
Provisions
25,190
25,148
Deferred revenue
839,952
812,943
Lease obligations
41,834
42,446
Derivative liabilities
985,634
772,127
Exchangeable senior notes, net
270,515
348,799
Total current liabilities
2,397,562
2,310,011
Non-current liabilities:
Deferred tax liabilities
19,471
26,625
Provisions
12,172
12,435
Deferred revenue
71,098
84,652
Term loan facility, net
649,288
—
Lease obligations
293,183
214,103
Other non-current liabilities
1,586
2,604
Total non-current liabilities
1,046,798
340,419
Total liabilities
3,444,360
2,650,430
Equity (deficit)
Share capital
25,256
25,164
Share premium
461,017
461,016
Other capital reserves
1,635,529
1,516,609
Other components of equity
63,771
104,832
Accumulated deficit
(2,212,809
)
(1,812,707
)
Total equity (deficit)
(27,236
)
294,914
Total liabilities and equity
(deficit)
$
3,417,124
$
2,945,344
Atlassian Corporation
Plc
Consolidated Statements of
Cash Flows
(U.S. $ in thousands)
(unaudited)
Three Months Ended September
30,
2021
2020
Operating activities
Loss before income tax benefit
(expense)
$
(392,118
)
$
(24,324
)
Adjustments to reconcile loss before
income tax benefit (expense) to net cash provided by operating
activities:
Depreciation and amortization
13,164
13,411
Depreciation of right-of-use assets
10,079
9,214
Share-based payment expense
118,975
85,731
Net loss on exchange derivative and capped
call transactions
424,482
27,496
Amortization of debt discount and issuance
cost
3,722
9,173
Interest income
(280
)
(2,590
)
Interest expense
3,389
3,402
Net unrealized foreign currency loss
(gain)
(6,398
)
5,567
Net unrealized loss on investments
500
—
Loss (gain) on sale of investments,
disposal of assets and other
(615
)
248
Changes in assets and liabilities:
Trade receivables
(13,211
)
(8,378
)
Prepaid expenses and other assets
(20,298
)
(11,418
)
Trade and other payables, provisions and
other non-current liabilities
(66,025
)
(47,384
)
Deferred revenue
13,455
22,636
Interest received
895
4,156
Income tax paid, net
(11,330
)
(7,475
)
Net cash provided by operating
activities
78,386
79,465
Investing activities
Business combinations, net of cash
acquired
—
(32,464
)
Purchases of property and equipment
(6,881
)
(7,817
)
Purchases of investments
(74,003
)
(33,252
)
Proceeds from maturities of
investments
53,887
74,677
Proceeds from sales of investments
186,262
7,087
Payment of deferred consideration
(1,138
)
(185
)
Net cash provided by investing
activities
158,127
8,046
Financing activities
Proceeds from exercise of share
options
1
922
Proceeds from term loan facility
650,000
—
Payments of lease obligations
(12,186
)
(11,096
)
Interest paid
(1,199
)
—
Repayment of exchangeable senior notes
(314,310
)
(8
)
Proceeds from settlement of capped call
transactions
30,978
—
Net cash provided by (used in)
financing activities
353,284
(10,182
)
Effect of exchange rate changes on cash
and cash equivalents
(2,108
)
2,964
Net increase in cash and cash
equivalents
587,689
80,293
Cash and cash equivalents at beginning
of period
919,227
1,479,969
Net decrease in cash and cash equivalents
included in assets held for sale
502
—
Cash and cash equivalents at end of
period
$
1,507,418
$
1,560,262
Atlassian Corporation
Plc
Revenues by Deployment
Options
(U.S. $ in thousands)
(unaudited)
Three Months Ended September
30,
2021
2020
Cloud
$
317,903
$
207,320
Data Center
111,195
66,349
Server (1)
139,547
149,831
Marketplace and services (2)
45,379
36,006
Total revenues
$
614,024
$
459,506
(1) Included in Server is perpetual
license revenue. Perpetual license revenue is captured as other
revenue on the Consolidated Statements of Operations.
(2) Included in Marketplace and services
is premier support revenue. Premier support is a subscription-based
arrangement for a higher level of support across different
deployment options. Premier support is recognized as subscription
revenue on the Consolidated Statements of Operations as the
services are delivered over the term of the arrangement.
Atlassian Corporation
Plc
Reconciliation of IFRS to
Non-IFRS Results
(U.S. $ and shares in
thousands, except per share data)
(unaudited)
Three Months Ended September
30,
2021
2020
Gross profit
IFRS gross profit
$
516,006
$
385,822
Plus: Share-based payment expense
7,845
5,256
Plus: Amortization of acquired intangible
assets
5,689
5,419
Non-IFRS gross profit
$
529,540
$
396,497
Operating income
IFRS operating income
$
39,646
$
11,932
Plus: Share-based payment expense
118,975
85,731
Plus: Amortization of acquired intangible
assets
8,054
7,759
Non-IFRS operating income
$
166,675
$
105,422
Net income
IFRS net loss
$
(400,102
)
$
(21,554
)
Plus: Share-based payment expense
118,975
85,731
Plus: Amortization of acquired intangible
assets
8,054
7,759
Plus: Non-coupon impact related to
exchangeable senior notes and capped calls
427,853
36,669
Less: Income tax effects and
adjustments
(36,467
)
(31,834
)
Non-IFRS net income
$
118,313
$
76,771
Net income per share
IFRS net loss per share - diluted
$
(1.59
)
$
(0.09
)
Plus: Share-based payment expense
0.47
0.34
Plus: Amortization of acquired intangible
assets
0.03
0.03
Plus: Non-coupon impact related to
exchangeable senior notes and capped calls
1.69
0.15
Less: Income tax effects and
adjustments
(0.14
)
(0.13
)
Non-IFRS net income per share -
diluted
$
0.46
$
0.30
Weighted-average diluted shares
outstanding
Weighted-average shares used in computing
diluted IFRS net loss per share
252,106
248,015
Plus: Dilution from share options and RSUs
(1)
4,198
5,521
Weighted-average shares used in computing
diluted non-IFRS net income per share
256,304
253,536
Free cash flow
IFRS net cash provided by operating
activities
$
78,386
$
79,465
Less: Capital expenditures
(6,881
)
(7,817
)
Less: Payments of lease obligations
(12,186
)
(11,096
)
Free cash flow
$
59,319
$
60,552
(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 September 30, 2021 and
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
December 31, 2021
Revenue
$630 million to $645
million
IFRS gross margin
82%
Plus: Share-based payment expense
2
Plus: Amortization of acquired intangible
assets
1
Non-IFRS gross margin
85%
IFRS operating margin
(15%) to (14%)
Plus: Share-based payment expense
36
Plus: Amortization of acquired intangible
assets
1
Non-IFRS operating margin
22% to 23%
IFRS net loss per share -
diluted
($0.42) to ($0.39)
Plus: Share-based payment expense
0.89
Plus: Amortization of acquired intangible
assets
0.03
Less: Income tax effects and
adjustments
(0.15)
Non-IFRS net income per share -
diluted
$0.35 to $0.38
Weighted-average shares used in
computing diluted IFRS net loss per share
251 million to 253
million
Dilution from share options and RSUs
(1)
4 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 December 31, 2021
because the effect would be anti-dilutive.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20211028006150/en/
Investor Relations Contact Martin Lam
IR@atlassian.com
Media Contact Kelsey Castellow press@atlassian.com
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