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TEAM · Atlassian

11 filings

10-K

TEAM 10-K Annual Reports

Atlassian - 11 annual reports

Filing record · 2016–202610-K1110-Q128-K121

2026
Atlassian Annual Report, Year Ended Jun 30, 2026
Atlassian Corporation (Nasdaq: TEAM) reported fiscal year 2026 (ended June 30, 2026) total revenues of $6.57 billion, up 26% from $5.22 billion in fiscal 2025, with subscription revenue of $6.26 billion (up 27%) and Cloud revenue of $4.41 billion (up 28%). Gross margin rose to 85% from 83%, and operating income turned positive at $10.4 million compared with an operating loss of $130.4 million in fiscal 2025. Net loss narrowed to $53.8 million, or $0.21 per share, from $256.7 million, or $0.98 per share, though the provision for income taxes was $75.9 million. Non-GAAP operating income was $1.99 billion (30% margin), and free cash flow was $1.32 billion, down from $1.42 billion. Management attributes the results partly to two restructuring plans that recorded $285.4 million in charges, including severance of $203.9 million and lease-related impairments of $80.0 million, and cites a shift toward Cloud and AI-driven offerings. Capital allocation was a major theme. Atlassian acquired The Browser Company of New York and A Software Company (DX) during the second quarter of fiscal 2026, with cash consideration of roughly $1.2 billion for business combinations, and goodwill rose to $2.30 billion from $1.30 billion. The company repurchased about 19.1 million Class A shares for approximately $1.8 billion, and $1.9 billion remained available under the 2025 Repurchase Program as of June 30, 2026. Cash and cash equivalents fell to $1.24 billion from $2.51 billion, and the company had $985.6 million of senior notes outstanding with no borrowings under its $750 million revolving credit facility. The filing also highlights structural considerations for investors. Data Center products are being end-of-lifed, with no new term licenses sold to new customers since March 2026, sales to existing customers ending in March 2028, and maintenance ending in March 2029. Class B shares carry ten votes each and represented about 86% of voting power as of June 30, 2026, so the Co-Founders control most votes. Ernst & Young issued an unqualified opinion on both the financial statements and internal control over financial reporting.
Aug 14, 2026
2025
Atlassian Annual Report, Year Ended Jun 30, 2025
Atlassian Corporation's fiscal 2025 Form 10-K (fiscal year ended June 30, 2025) reports total revenues of $5.22 billion, up 20% from $4.36 billion in fiscal 2024. Subscription revenues rose 26% to $4.93 billion, driven primarily by paid seat expansion from existing customers and price increases, while other revenues fell 34% to $284.7 million after the end of Server support. Cloud revenues grew 28% to $3.45 billion and Data Center revenues grew 21% to $1.47 billion. Gross margin was 83% versus 82% a year earlier, but the company still posted a GAAP operating loss of $130.4 million and a net loss of $256.7 million, compared with a net loss of $300.5 million in fiscal 2024. Management's non-GAAP operating income was $1.29 billion, a 25% non-GAAP operating margin, and free cash flow was $1.42 billion, roughly flat year over year. Stock-based compensation rose to $1.36 billion and is the main reason GAAP results remain negative. The balance sheet shows cash and cash equivalents of $2.51 billion, marketable securities of $424.3 million, and $985.6 million of senior notes, with an undrawn $750 million revolving credit facility. Operating cash flow was $1.46 billion. The company repurchased about 4.0 million Class A shares for $780.7 million during the year, and $1.2 billion remained under the 2024 Repurchase Program as of June 30, 2025. Founders' Class B shares carry ten votes per share and held about 85% of voting power, so Co-Founders Michael Cannon-Brookes and Scott Farquhar control most stockholder votes. The filing also discloses that the company is investing heavily in AI, including making Rovo available to premium and enterprise customers at no additional cost, with management expecting these investments to weigh on operating margins in the near term.
Aug 15, 2025
2024
Atlassian Annual Report, Year Ended Jun 30, 2024
Atlassian Corporation (TEAM) reported fiscal year 2024 (ended June 30, 2024) total revenues of $4.36 billion, up 23% from $3.53 billion in fiscal 2023, with subscription revenue rising 34% to $3.92 billion and Cloud revenue rising 29% to $2.70 billion. Gross margin held at 82%, but operating expenses grew to $3.67 billion, leaving a GAAP operating loss of $117.1 million (compared with a $345.2 million loss in fiscal 2023) and a GAAP net loss of $300.5 million. Non-GAAP operating income was $1.01 billion, a 23% non-GAAP operating margin. Net cash provided by operating activities was $1.45 billion, and free cash flow was $1.42 billion. Stock-based compensation of $1.08 billion was the largest driver of the gap between GAAP and non-GAAP results. The balance sheet shows cash and cash equivalents of $2.18 billion and marketable securities of $162.0 million against $985.9 million of long-term debt. In May 2024 the company issued $500 million of 5.250% senior notes due 2029 and $500 million of 5.500% senior notes due 2034, and it repaid its $1.0 billion term loan. In August 2024 it replaced its prior credit facility with a $750 million senior unsecured revolving credit facility. The company repurchased about 2.2 million Class A shares for approximately $394.0 million during the year and had $451.8 million remaining under its $1.0 billion authorization. It also acquired Loom, Inc. in November 2023 for approximately $885.6 million in cash. Investors should weigh several risks noted in the filing. Class B shares carry ten votes each, and entities affiliated with the Co-Founders hold approximately 86% of the voting power. The company is shifting from Data Center and Server offerings to Cloud, which the filing says will modestly reduce gross margin. Server revenue fell 56% as maintenance support ended in February 2024. Securities class action and derivative litigation related to the August 2022 to November 2022 class period is ongoing, with the court dismissing the second amended complaint on August 13, 2024 and granting leave to file a third.
Aug 16, 2024
2023
Atlassian Annual Report, Year Ended Jun 30, 2023
Atlassian Corporation (NASDAQ: TEAM) reported fiscal year 2023 (ended June 30, 2023) total revenues of $3.53 billion, up 26% from $2.80 billion in fiscal 2022, driven by subscription revenue of $2.92 billion (up 39%). Cloud revenue rose to $2.09 billion and Data Center to $819.3 million, while Server revenue fell 24% to $400.5 million as the company stopped selling new perpetual licenses and plans to end Server maintenance in February 2024. The company had more than 260,000 customers as of June 30, 2023 (262,337 per the key metrics table). Atlassian reported a GAAP operating loss of $345.2 million and a net loss of $486.8 million, compared with a net loss of $519.5 million in fiscal 2022. The loss was driven by $937.8 million of stock-based compensation, a $96.9 million restructuring charge tied to a March 2023 rebalancing that eliminated about 500 roles, and a $110.7 million reserve for uncertain tax positions related to Australian transfer pricing negotiations. Operating cash flow was $868.1 million and free cash flow was $842.5 million. Cash and cash equivalents were $2.10 billion against $1.0 billion of term loan borrowings. The company repurchased about $154.2 million of Class A stock during the year and had $845.8 million remaining under its $1.0 billion authorization. Class B shares, held mainly by the Co-CEOs, carry about 87% of the voting power. A securities class action filed in February 2023 is pending. The filing also covers the September 30, 2022 redomestication from Atlassian Corporation Plc, an England and Wales company, to a Delaware corporation, after which the company became a U.S. domestic filer that reports under GAAP rather than IFRS. Management says the company expects customer migrations from on-premises to Cloud and Data Center offerings to drive subscription growth, while gross margin is expected to decline because of hosting costs tied to the shift to Cloud.
Aug 18, 2023
2022
Atlassian Annual Report, Year Ended Jun 30, 2022
Atlassian Corporation Plc filed this Form 20-F annual report for the fiscal year ended June 30, 2022, on August 19, 2022. Total revenues rose to $2.80 billion from $2.09 billion, with subscription revenue increasing to $2.10 billion from $1.32 billion, a 58% increase, while maintenance revenue declined 5% and other revenue declined 13%. The company reported an IFRS operating loss of $106.5 million and an IFRS net loss of $614.1 million, compared with an operating income of $101.6 million and net loss of $696.3 million in fiscal 2021. The net loss was driven largely by $424.5 million of net losses on exchange derivative and capped call transactions tied to its exchangeable senior notes, which were fully settled during the year for $1.5 billion in cash. Share-based payment expense rose to $707.1 million from $385.7 million, and research and development expense reached $1.40 billion, or 50% of revenue. The company ended the year with $1.39 billion in cash and cash equivalents and $1.0 billion drawn under a term loan facility. Free cash flow was $763.8 million, roughly flat versus $764.9 million the prior year, and net cash from operating activities was $883.5 million. Management is transitioning customers from on-premises perpetual licenses to Cloud and Data Center offerings, ceasing sales of new perpetual licenses in February 2021 and upgrades in February 2022, with plans to end maintenance for on-premises versions in February 2024. The filing also discloses a planned U.S. redomiciliation of the parent company, and the Co-Chief Executive Officers and their affiliates hold approximately 88% of total voting power through Class B shares.
Aug 19, 2022
2021
Atlassian Annual Report, Year Ended Jun 30, 2021
Atlassian Corporation Plc's annual report for the fiscal year ended June 30, 2021 shows total revenues of $2.09 billion, up 29% from $1.61 billion, with subscription revenue rising 42% to $1.32 billion. Growth was driven by new and existing customers and by accelerated demand for on-premises products ahead of the discontinuation of new perpetual license sales in February 2021 and related price changes. Operating income was $101.6 million, compared with $14.1 million a year earlier, but the company posted a net loss of $696.3 million (or $2.79 per share), driven mainly by $616.4 million of net losses on the exchange derivative and capped call transactions tied to its exchangeable senior notes. Free cash flow was $764.9 million, up from $500.4 million, and net cash from operating activities was $841.3 million. The balance sheet carried $919.2 million of cash and cash equivalents and $313.0 million of short-term investments as of June 30, 2021, against $1.11 billion of exchangeable senior notes due at their if-exchanged value. Working capital was a deficit of $726.2 million, largely because the notes and their exchange derivative were classified as current. Management said cash and existing resources, plus the new $1.5 billion Credit Facility (no amounts drawn at year end), should cover needs for at least the next 12 months. The company also disclosed that it expects operating income and operating cash flow to decrease in fiscal 2022 as share-based compensation and investment rise, and that perpetual license revenue will keep declining. Class B shares carry ten votes each, and co-CEOs Michael Cannon-Brookes and Scott Farquhar together hold approximately 89% of total voting power. The company reports under IFRS as a foreign private issuer, and its Class A shares trade on Nasdaq under the symbol TEAM.
Aug 13, 2021
2020
Atlassian Annual Report, Year Ended Jun 30, 2020
Atlassian Corporation Plc's annual report for the fiscal year ended June 30, 2020 shows total revenues of $1,614.2 million, up $404.0 million, or 33%, from $1,210.1 million in fiscal 2019. Subscription revenue grew $297.5 million, or 47%, to $931.5 million, and now makes up the largest share of revenue. Maintenance revenue rose 19% to $469.4 million, and perpetual license revenue rose 2% to $95.2 million. The company reported an IFRS operating income of $14.1 million, compared with an operating loss of $63.4 million a year earlier, while its net loss narrowed to $350.7 million from $637.6 million. The loss is driven mainly by non-cash mark-to-fair-value charges on the exchangeable senior notes and related capped calls, which were $336.0 million in fiscal 2020 per the cash flow reconciliation. Free cash flow, a non-IFRS measure, was $500.4 million, up from $422.2 million. Cash and cash equivalents were $1.48 billion and short-term investments were $676.1 million at June 30, 2020. The $1.0 billion exchangeable senior notes became exchangeable for cash after the closing price condition was met as of June 30, 2020, and they are classified as current liabilities. Working capital was a deficit of $375.0 million at year end. Management expects perpetual license revenue to decline in fiscal 2021 as the server business slows, and expects operating income and operating cash flow to decrease in fiscal 2021 as investment continues. Governance is concentrated: Class B shares with ten votes each give co-founders Michael Cannon-Brookes and Scott Farquhar about 89.45% of voting power combined, and the company is a foreign private issuer reporting under IFRS.
Aug 14, 2020
2019
Atlassian Annual Report, Year Ended Jun 30, 2019
Atlassian Corporation Plc's annual report on Form 20-F for the fiscal year ended June 30, 2019 shows total revenues of $1.21 billion, up 37% from $880,978 thousand in fiscal 2018 (restated under IFRS 15). Subscription revenue grew 54% to $633.95 million and now is the largest revenue line, while maintenance revenue rose 21% to $394.5 million. Gross margin improved to 83% from 80%, and non-IFRS operating income reached $251.2 million. Despite this, the company posted an IFRS operating loss of $63.4 million and a net loss of $637.6 million, or $2.67 per share. The net loss was driven mainly by a $535.5 million non-operating expense, primarily the $533.9 million mark-to-fair-value loss on the embedded exchange feature of the $1 billion exchangeable senior notes, partly offset by capped call assets. The company reports free cash flow of $422.2 million, up from $281.2 million, and cash and short-term investments of about $1.7 billion. Balance sheet and liquidity risks are notable. The notes' exchange condition was met as of June 30, 2019, so the notes and related derivative liability are classified as current, and current liabilities were $2.33 billion against current assets of $2.04 billion, producing negative working capital of $287.6 million. Management states that cash and cash equivalents plus cash from operations should be sufficient for at least the next 12 months. Governance is concentrated: Class B shares with ten votes each give holders about 91% of voting power, and co-CEOs Michael Cannon-Brookes and Scott Farquhar together hold about 90%. The company also reports as a foreign private issuer under IFRS and is not listed in the UK.
Aug 23, 2019
2018
Atlassian Annual Report, Year Ended Jun 30, 2018
Atlassian Corporation Plc filed this Annual Report for the fiscal year ended June 30, 2018, prepared under IFRS and filed on Form 20-F-style foreign private issuer format. Total revenues rose to $873.95 million in fiscal 2018 from $619.94 million in fiscal 2017, with subscription revenue growing to $403.2 million from $242.1 million and maintenance revenue to $325.9 million from $265.5 million. Gross profit was $701.3 million, but the company reported an IFRS operating loss of $53.7 million and a net loss of $119.3 million, which was driven in part by a $53.5 million income tax expense. Share-based payment expense was $162.9 million, and non-IFRS operating income was $166.4 million. Management states it does not expect to achieve IFRS profitability in the near term. The company ended the year with cash and cash equivalents of $1.41 billion and short-term investments of $323.1 million, following the issuance of $1.0 billion of 0.625% Exchangeable Senior Notes due 2023. Free cash flow was $281.2 million, up from $183.3 million, and operating cash flow was $311.5 million. Customers totaled 125,796 at June 30, 2018, versus 89,237 a year earlier, and the company reported more than 300 of the Fortune 500 as customers. Investors should note the governance structure: Class B shares carry ten votes each and hold approximately 92% of total voting power, with co-CEOs Michael Cannon-Brookes and Scott Farquhar together holding approximately 91%. The company also disclosed that it will exit real-time communications products (Stride and HipChat) following a partnership with Slack, and it plans to adopt IFRS 15 on a full retrospective basis beginning in fiscal 2019.
Aug 30, 2018
2017
Atlassian Annual Report, Year Ended Jun 30, 2017
Atlassian Corporation Plc's annual report for the fiscal year ended June 30, 2017 shows total revenues of $619.9 million, up 36% from $457.1 million in fiscal 2016. Subscription revenue rose 65% to $242.1 million and maintenance revenue rose 21% to $265.5 million. The company reported an IFRS operating loss of $63.1 million and a net loss of $42.5 million, or $0.19 per share, compared with net income of $4.4 million in fiscal 2016. Management attributes the swing largely to higher share-based payment expense of $137.4 million, up from $75.5 million, and amortization of acquired intangibles of $29.9 million. On a non-IFRS basis, operating income was $104.2 million and free cash flow was $183.3 million, compared with $95.3 million a year earlier. The balance sheet remained strong, with cash and cash equivalents of $244.4 million and short-term investments of $305.5 million at June 30, 2017. The increase in total assets to $1.28 billion reflects the acquisition of Trello for approximately $384.0 million, of which $363.8 million was paid in cash. Deferred revenue increased to $256.0 million. Management expects research and development, marketing and sales, and general and administrative expenses to rise in absolute dollars and does not expect to reach IFRS profitability in the near term. The filing also highlights governance and structural considerations for investors. Class B ordinary shares carry ten votes per share and represented approximately 94% of voting power at June 30, 2017, with co-CEOs Michael Cannon-Brookes and Scott Farquhar holding about 93%. The company reports under IFRS as a foreign private issuer, is incorporated in England and Wales, and reported 89,237 customers as of June 30, 2017, with JIRA and Confluence generating over two-thirds of total revenues in each of the prior three fiscal years.
Sep 1, 2017
2016
Atlassian Annual Report, Year Ended Jun 30, 2016
Atlassian Corporation Plc filed this annual report on Form 20-F for the fiscal year ended June 30, 2016, reporting under International Financial Reporting Standards (IFRS). Total revenues rose to $457.06 million from $319.52 million, with subscription revenue up to $146.66 million from $85.89 million and maintenance revenue up to $218.85 million from $160.37 million. The company swung to an IFRS operating loss of $5.88 million from operating income of $1.71 million the prior year, and net income fell to $4.37 million from $6.78 million. Management attributes the decline to continued heavy investment in research and development, cloud infrastructure, global expansion and share-based compensation, which rose to $75.48 million from $41.53 million. Non-IFRS operating income was $77.09 million and free cash flow was $95.33 million for the year. The balance sheet strengthened substantially following the December 2015 initial public offering, which sold 22 million Class A ordinary shares at $21.00 per share for net proceeds of $431.4 million. Cash and cash equivalents were $259.71 million and short-term investments were $483.41 million at June 30, 2016, against total liabilities of $259.31 million. Customers grew to 60,950 from 48,622, and the company reported 1,760 employees. Governance-wise, the dual-class structure gives Class B holders roughly 95% of voting power, with co-CEOs Michael Cannon-Brookes and Scott Farquhar together holding about 94%, which the filing flags as a risk to Class A shareholders.
Aug 18, 2016