Atlassian Corp 6-K, filed Aug 4, 2022

Atlassian Corp (TEAM)

6-K 2022-08-04 For: 2022-06-30

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Added on April 08, 2026

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Atlassian Corp filed this 6-K on August 4, 2022.

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Date:	August 4, 2022	Atlassian Corporation Plc


		/s/ Stan Shepard
		Stan Shepard General Counsel


Exhibit Number			Exhibit Title
99.1			Press Release dated August 4, 2022.
99.2			Shareholder Letter dated August 4, 2022.


	Three Months Ended June 30,				Fiscal Year Ended June 30,
	2022		2021		2022		2021
Revenues:
Subscription	$	597,297	$	385,510	$	2,096,706	$	1,324,064
Maintenance	117,095		131,080		495,077		522,971

Other	45,449		42,949		211,099		242,097
Total revenues	759,841		559,539		2,802,882		2,089,132
Cost of revenues (1) (2)	133,154		97,967		465,707		336,021
Gross profit	626,687		461,572		2,337,175		1,753,111
Operating expenses:
Research and development (1) (2)	379,000		245,929		1,397,568		963,326
Marketing and sales (1) (2)	179,308		133,429		567,691		372,909
General and administrative (1)	131,632		89,740		478,373		315,242
Total operating expenses	689,940		469,098		2,443,632		1,651,477
Operating income (loss)	(63,253)		(7,526)		(106,457)		101,634
Other non-operating expense, net	(327)		(199,401)		(434,588)		(620,759)
Finance income	1,332		1,008		2,297		7,174
Finance costs	(6,611)		(8,099)		(25,824)		(122,713)
Loss before income tax benefit (expense)	(68,859)		(214,018)		(564,572)		(634,664)
Income tax benefit (expense)	(36,604)		945		(49,552)		(61,651)
Net loss	$	(105,463)	$	(213,073)	$	(614,124)	$	(696,315)


Net loss per share attributable to ordinary shareholders:
Basic	$	(0.41)	$	(0.85)	$	(2.42)	$	(2.79)
Diluted	$	(0.41)	$	(0.85)	$	(2.42)	$	(2.79)
Weighted-average shares outstanding used to compute net loss per share attributable to ordinary shareholders:
Basic	254,482		251,264		253,312		249,679
Diluted	254,482		251,264		253,312		249,679


	Three Months Ended June 30,				Fiscal Year Ended June 30,
	2022		2021		2022		2021
Cost of revenues	$	11,641	$	6,187	$	44,848	$	24,739
Research and development	102,375		55,093		437,607		253,328
Marketing and sales	26,356		16,754		109,338		46,978
General and administrative	23,519		16,011		115,294		60,687


	Three Months Ended June 30,				Fiscal Year Ended June 30,
	2022		2021		2022		2021
Cost of revenues	$	5,697	$	6,008	$	22,694	$	22,394
Research and development	93		44		374		168
Marketing and sales	2,491		2,298		9,330		9,192


	June 30, 2022		June 30, 2021
	(unaudited)
Assets
Current assets:
Cash and cash equivalents	$	1,385,265	$	919,227
Short-term investments	73,294		313,001
Trade receivables	308,127		173,473
Tax receivables	541		2,332
Derivative assets	13,685		127,486
Prepaid expenses and other current assets	58,077		48,322
	1,838,989		1,583,841
Assets held for sale	60,265		43,665
Total current assets	1,899,254		1,627,506
Non-current assets:
Property and equipment, net	98,554		66,221
Deferred tax assets	42,760		36,174
Goodwill	732,666		725,758
Intangible assets, net	100,840		124,590
Right-of-use assets, net	267,328		205,300

Strategic investments	159,064		122,159

Other non-current assets	60,740		37,636
Total non-current assets	1,461,952		1,317,838
Total assets	$	3,361,206	$	2,945,344
Liabilities
Current liabilities:
Trade and other payables	$	404,908	$	266,497
Tax liabilities	26,367		42,051
Provisions	32,796		25,148
Deferred revenue	1,066,059		812,943
Lease obligations	40,638		42,446
Derivative liabilities	23,288		772,127
Exchangeable senior notes, net	—		348,799
Total current liabilities	1,594,056		2,310,011
Non-current liabilities:
Deferred tax liabilities	26,457		26,625
Provisions	13,804		12,435
Deferred revenue	116,621		84,652
Term loan facility, net	999,419		—
Lease obligations	274,434		214,103

Other non-current liabilities	812		2,604
Total non-current liabilities	1,431,547		340,419
Total liabilities	3,025,603		2,650,430
Equity
Share capital	25,485		25,164
Share premium	461,044		461,016
Other capital reserves	2,223,820		1,516,609
Other components of equity	53,829		104,832
Accumulated deficit	(2,428,575)		(1,812,707)
Total equity	335,603		294,914
Total liabilities and equity	$	3,361,206	$	2,945,344


			Three Months Ending September 30, 2022
Revenue			$795 million to $810 million

IFRS gross margin			80% to 81%
Plus: Share-based payment expense			3
Plus: Amortization of acquired intangible assets			1
Non-IFRS gross margin			84% to 85%

IFRS operating margin			(37%)
Plus: Share-based payment expense			54
Plus: Amortization of acquired intangible assets			1
Non-IFRS operating margin			18%

IFRS net loss per share - diluted			($1.17) to ($1.16)
Plus: Share-based payment expense			1.66
Plus: Amortization of acquired intangible assets			0.03

Less: Income tax effects and adjustments			(0.15)
Non-IFRS net income per share - diluted			$0.37 to $0.38

Weighted-average shares used in computing diluted IFRS net loss per share			256 million to 257 million
Dilution from share options and RSUs (1)			3 million
Weighted-average shares used in computing diluted non-IFRS net income per share			259 million to 260 million


	Three Months Ended June 30,				Fiscal Year Ended June 30,
	2022		2021		2022		2021
Operating activities
Loss before income tax benefit (expense)	$	(68,859)	$	(214,018)	$	(564,572)	$	(634,664)
Adjustments to reconcile loss before income tax benefit (expense) to net cash provided by operating activities:
Depreciation and amortization	13,753		14,172		51,163		55,296
Depreciation of right-of-use assets	10,857		9,542		42,795		37,552
Share-based payment expense	163,891		94,045		707,087		385,732
Net loss on exchange derivative and capped call transactions	—		200,513		424,482		616,446
Amortization of debt discount and issuance cost	118		5,246		4,075		109,548
Interest income	(1,332)		(1,008)		(2,297)		(7,174)
Interest expense	6,493		2,852		21,749		13,164
Net foreign currency loss (gain)	(4,032)		(2,525)		(12,065)		7,650
Impairment of lease related assets	—		7,435		—		7,435
Net unrealized loss on investments	—		—		2,100		2,000
Net loss on sale of investments, disposal of assets and other	1,021		9		3,189		1,144
Changes in assets and liabilities:
Trade receivables	(51,581)		19,687		(134,764)		(61,256)
Prepaid expenses and other assets	4,055		(2,002)		(20,767)		(13,054)
Trade and other payables, provisions and other non-current liabilities	72,450		31,676		140,946		64,899
Deferred revenue	90,594		23,558		284,937		294,371
Interest received	367		2,041		2,086		12,513
Income tax paid, net	(7,398)		(6,856)		(66,648)		(50,272)
Net cash provided by operating activities	230,397		184,367		883,496		841,330
Investing activities
Business combinations, net of cash acquired	—		(7,960)		(12,377)		(91,584)
Purchases of intangible assets	—		(1,800)		(4,018)		(1,800)
Purchases of property and equipment	(24,648)		(8,790)		(70,583)		(31,520)

Purchases of investments	(8,750)		(25,912)		(132,671)		(119,431)
Proceeds from maturities of investments	12,850		124,447		76,937		454,996
Proceeds from sales of investments	—		—		186,262		48,786
Change in restricted cash	(783)		(456)		10,336		(2,618)
Payment of deferred consideration	(2,550)		—		(7,034)		(185)
Net cash provided by (used in) investing activities	(23,881)		79,529		46,852		256,644
Financing activities
Proceeds from exercise of share options	17		5		32		1,163
Payments of lease obligations	(11,052)		(11,336)		(49,142)		(44,874)
Payment of issuance costs for debt	—		—		—		(4,445)