Atlassian Corp Files 2024 10-K

Ticker: TEAM · Form: 10-K · Filed: 2024-08-16T00:00:00.000Z

Sentiment: neutral

Topics: 10-K, annual-report, software

TL;DR

Atlassian's 2024 10-K is in, check financials for FY ending June 30.

AI Summary

Atlassian Corp filed its 10-K for the fiscal year ending June 30, 2024, reporting on its financial performance and business operations. The filing details the company's revenue streams, including license and service fees, and provides information on its corporate structure and stock classes. Atlassian is headquartered at 350 Bush Street, San Francisco, CA.

Why It Matters

This 10-K filing provides investors and stakeholders with a comprehensive overview of Atlassian's financial health and strategic positioning for the fiscal year 2024.

Risk Assessment

Risk Level: medium — The filing is a standard annual report and does not inherently indicate new or elevated risks.

Key Numbers

Key Players & Entities

FAQ

What were Atlassian's primary revenue sources for the fiscal year ending June 30, 2024?

The filing indicates revenue from 'LicenseAndServiceMember' for the periods 2023-07-01 to 2024-06-30, suggesting these are key revenue streams.

What is Atlassian Corp's Central Index Key (CIK)?

Atlassian Corp's Central Index Key is 0001650372.

When was Atlassian Corp's former name changed?

The date of the former company name change to Atlassian Corp Plc was 20150807.

What is the filing date of this 10-K report?

This 10-K report was filed on 20240816.

What are the two main classes of common stock mentioned in relation to Atlassian Corp?

The filing mentions 'us-gaap:CommonClassAMember' and 'us-gaap:CommonClassBMember' in relation to stock ownership dates.

Filing Stats: 4,440 words · 18 min read · ~15 pages · Grade level 14.7 · Accepted 2024-08-16 16:05:58

Key Financial Figures

Filing Documents

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS 3 PART I. 5

BUSINESS

Item 1. BUSINESS 5

RISK FACTORS

Item 1A. RISK FACTORS 13

UNRESOLVED STAFF COMMENTS

Item 1B. UNRESOLVED STAFF COMMENTS 44

PROPERTIES

Item 2. PROPERTIES 45

LEGAL PROCEEDINGS

Item 3. LEGAL PROCEEDINGS 46

MINE SAFETY DISCLOSURES

Item 4. MINE SAFETY DISCLOSURES 46

46

PART II. 46

MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

Item 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES 46

RESERVED

Item 6. RESERVED 48

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Item 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 48

QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK

Item 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK 61

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

Item 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 63

CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE

Item 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 101

CONTROL AND PROCEDURES

Item 9A. CONTROL AND PROCEDURES 101

OTHER INFORMATION

Item 9B. OTHER INFORMATION 102

DISCLOSURES REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS

Item 9C. DISCLOSURES REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 102

102

PART III. 102

DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE

Item 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 102

EXECUTIVE COMPENSATION

Item 11. EXECUTIVE COMPENSATION 102

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

Item 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS 102

CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE

Item 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 102

PRINCIPAL ACCOUNTANT FEES AND SERVICES

Item 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES 102

103

PART IV. 103

EXHIBIT AND FINANCIAL STATEMENT SCHEDULE

Item 15. EXHIBIT AND FINANCIAL STATEMENT SCHEDULE 103

FORM 10-K SUMMARY

Item 16. FORM 10-K SUMMARY 107

SIGNATURES

SIGNATURES 108 2 INTRODUCTION Our consolidated financial statements are presented in U.S. dollars. All references in this Annual Report on Form 10-K to "$," "U.S. $," "U.S. dollars" and "dollars" mean U.S. dollars, unless otherwise noted.

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), which statements involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or our future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as "may," "will," "should," "expects," "plans," "anticipates," "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these words or other similar terms or expressions that articulate our expectations, strategy, plans or intentions. Forward-looking statements contained in this Annual Report on Form 10-K include, but are not limited to, statements about: our future financial performance, including our revenues, cost of revenues, gross profit or gross margin and operating expenses; the sufficiency of our cash and cash equivalents to meet our liquidity needs; our ability to increase the number of customers using our software; our ability to attract and retain customers to use our products and solutions; our ability to develop new products and enhancements to our existing products; our ability to successfully expand in our existing markets and into new markets; our ability to effectively manage our growth and future expenses; our ability to prevent security breaches and unauthorized access to customer data; our ability to maintain, protect and enhance our intellectual property; our ability to grow our Cloud offerings; our ability to incorporate artificial intelligence solutions and features into our platform; our future growth and profitability; our ability to comply with modified or new laws and regulations applying to our business, i

BUSINESS

ITEM 1. BUSINESS Company Overview Our mission is to unleash the potential of every team. The Atlassian System of Work is our philosophy for how every team works together in technology-driven organizations to achieve impact that would be impossible alone. Through a connected portfolio of products with discrete value propositions that are built on the Atlassian platform and data model, the Atlassian System of Work gives all teams the right teamwork foundations so they can plan and track work, align on goals, and unleash knowledge across the organization. The Atlassian platform is the common technology foundation for our products and solutions that drives connection between teams, information, and workflows across the entire organization. Additionally, we help leadership teams gain actionable insights and visibility across their organizations and deliver solutions for specialized teams, like product and development teams and IT operations and support teams. Our primary products include Jira for planning and project management, Confluence for content creation and sharing, Jira Service Management for team service, management and support applications, and Loom, which we acquired in November 2023, for asynchronous video collaboration. Together, our connected portfolio of products form integrated solutions that are deeply entrenched in how teams collaborate and how organizations run, and provide customers all the benefits of analytics, automation, and now AI, as well as integrations with thousands of third-party apps. Our mission is made possible by a deep investment in product development to create and refine innovative, high-value, and versatile products that users love. We make our products affordable for organizations of all sizes and transparently share our pricing online for most of our products. We aim to grow our customer base, targeting small, medium and large enterprises, in every industry, and in most geographies, and strategically expand our relationships

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