Quarterly revenue of $109.7 million, up 45%
year-over-year
Atlassian Corporation Plc (NASDAQ:TEAM), a leading provider of team
collaboration and productivity software, today announced financial
results for its second quarter of fiscal 2016 ended December
31, 2015.
"We achieved a strong first quarter as a public company, with a
combination of continued growth and profitability," said Scott
Farquhar, Atlassian’s co-CEO and co-founder. "Our business
performed well as teams increasingly rely on our software to
collaborate around shared work. We continue to leverage our
highly-automated distribution model to make deep investments
in product development, which most notably resulted in the launch
of three purpose-built versions of JIRA that takes our flagship
product into new markets. With products that support every aspect
of team collaboration, we're well positioned to reach the Fortune
500,000 with the tools needed to create a more open and productive
way to work."
Second Quarter Fiscal Year 2016 Financial
Highlights:
On an IFRS basis, Atlassian reported:
- Revenue: Total revenue was $109.7 million for
the second quarter of fiscal 2016, up 45% from $75.8 million for
the second quarter of fiscal 2015.
- Operating Income: Operating income was
$3.4 million for the second quarter of fiscal 2016, compared
with $4.1 million for the second quarter of fiscal 2015.
- Net Income and Net Income Per Diluted
Share: Net income was $5.1 million for the second quarter
of fiscal 2016, compared with $5.0 million for the second quarter
of fiscal 2015. Net income per diluted share
was $0.03 for the second quarter of fiscal 2016, compared
with net income per diluted share of $0.03 for the second quarter
of fiscal 2015.
- Balance Sheet: Cash and cash equivalents
and short-term investments at the end of the second quarter of
fiscal 2016 totaled $682.0 million, compared with $217.3 million at
the end of the fourth quarter of fiscal 2015.
On a non-IFRS basis, Atlassian reported:
- Operating Income: Operating income
was $20.3 million for the second quarter of fiscal 2016,
compared with $15.3 million for the second quarter of fiscal
2015.
- Net Income and Net Income Per Diluted
Share: Net income was $19.1 million for the
second quarter of fiscal 2016, compared
with $14.3 million for the second quarter of fiscal 2015.
Net income per diluted share was $0.11 for the second quarter of
fiscal 2016, compared with $0.09 per diluted share for the second
quarter of fiscal 2015.
- Free Cash Flow: Cash flow from operations was
$31.9 million for the second quarter of fiscal 2016, resulting in
free cash flow of $28.8 million after taking into consideration
$3.1 million of capital expenditures.
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:
- Customers: Atlassian ended its second quarter
of fiscal 2016 with a total customer count on an active
subscription or maintenance agreement basis of 54,262, a
27% increase over the comparable prior year period. Atlassian added
more than 2,600 net new customers during the second quarter.
- JIRA: Atlassian transformed its flagship JIRA
product, one of the leading software development tools for
agile software teams worldwide, into three standalone
offerings that expand the markets it serves: JIRA Software for
agile development teams, JIRA Service Desk for IT and service
teams, and JIRA Core for non-technical business teams such as HR,
Finance, Legal and Marketing.
- Atlassian Marketplace: Atlassian launched
HipChat Connect, which allows third-party developers to create
full-featured apps for HipChat available through the Atlassian
Marketplace. With over 2,000 add-ons designed to enhance Atlassian
products, the Atlassian Marketplace is one of the largest
enterprise software marketplaces.
- New CTO: Atlassian announced the hiring of a
Chief Technology Officer (CTO), Sri Viswanath. Sri was previously
CTO and SVP of Engineering & Operations at Groupon. Sri
brings significant experience developing large-scale technology
platforms to Atlassian, and commenced his new role in January
2016.
- IPO: Atlassian completed its initial
public offering in December 2015, raising net proceeds to the
company, after expenses, of $431.4 million.
Financial Targets:
Atlassian is providing its financial targets for the third
quarter and fiscal year 2016. The company’s financial targets are
as follows:
- Third Quarter Fiscal Year 2016:
- Total revenue is expected to be in the range of $113 million to
$115 million.
- Gross profit margin is expected to be approximately 82% on an
IFRS basis and approximately 86% on a non-IFRS
basis.
- Operating income margin is expected to be -9% to -8% on an IFRS
basis and 11% to 12% on a non-IFRS basis.
- Weighted average share count is expected to be in the range of
231 million to 233 million shares on a fully diluted basis.
- Net loss per diluted share is expected to be approximately
($0.05) on an IFRS basis, and net income per diluted share is
expected to be in the range of $0.05 to $0.06 on a non-IFRS
basis.
- Fiscal Year 2016:
- Total revenue is expected to be in the range of $443 million to
$447 million.
- Gross profit margin is expected to be approximately 83% on an
IFRS basis and approximately 86% on a non-IFRS
basis.
- Operating income margin is expected to be approximately -4% on
an IFRS basis and approximately 15% on a non-IFRS basis.
- Weighted average share count is expected to be in the range of
202 million to 204 million shares on a fully diluted basis.
- Net loss per diluted share is expected to be in the range of
($0.11) to ($0.10) on an IFRS basis, and net income per diluted
share is expected to be in the range of $0.30 to $0.31 on a
non-IFRS basis.
- Free cash flow is expected to be in the range of $80 million to
$83 million.
With respect to Atlassian's expectations under “Financial
Targets” above, a reconciliation of IFRS to non-IFRS gross profit
margin, operating income margin and net income per diluted share
has been provided in the financial statement tables included in
this press release.
Webcast and Conference Call Details:
- When: February 4, 2016 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: http://investors.atlassian.com. Following the
call, a replay will be available on the same website. Atlassian
uses the http://investors.atlassian.com website as a means of
disclosing material non-public information and for complying with
disclosure obligations.
- Dial in: To access the call via
telephone in North America, please dial 1-866-270-1533. For
international callers, please dial
1-412-317-0797. 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 10079274). International
callers, please dial 1-412-317-0088 (access code 10079274).
Earnings materials, financial targets and an investor data sheet
are posted to the Investor Relations section of Atlassian's website
in advance of the conference call for reference. A reconciliation
between IFRS and non-IFRS results is also provided on the same
website.
About Atlassian
Atlassian unleashes the potential in every team. Our
collaboration software helps teams organize, discuss and complete
shared work. Teams at more than 54,000 large and small
organizations – including Citigroup, eBay, Coca-Cola, Visa, BMW and
NASA – use Atlassian’s project tracking, content creation and
sharing and real-time communication and service management products
to work better together and deliver quality results on time. Learn
about products including JIRA Software, Confluence, HipChat,
Bitbucket and JIRA Service Desk
at http://atlassian.com.
Forward-Looking Statements
This press release contains forward-looking statements under the
Private Securities Litigation Reform Act of 1995, which statements
involve substantial risks and uncertainties. Forward-looking
statements include all statements that are not historical facts
and, in some cases, can be identified by terms such as “may,”
“will,” “should,” “might,” “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 concern our expectations, strategy, plans or intentions.
Forward-looking statements contained in this press release include,
but are not limited to, statements about our products, including
our investments in products, technology and other key strategic
areas, such as our ability to attract and retain customers, our
ability to innovate and provide a superior customer service
experience, our ability to expand into new markets, and our
financial targets such as revenue, share count and IFRS and
non-IFRS financial measures including gross profit margin,
operating income margin, net income per diluted share and free cash
flow.
Atlassian undertakes 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,
Atlassian’s 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
Atlassian’s financial results is included in filings it makes with
the Securities and Exchange Commission from time to time, including
the section titled “Risk Factors” in the company’s Form F-1
previously filed with the SEC and Form 6-K report that will be
filed with the SEC. These documents are available on the SEC
Filings section of the Investor Relations section of Atlassian's
website at: http://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 non-IFRS financial measures provides consistency and
comparability with our past financial performance, facilitates
period to period comparisons of results of operations, and also
facilitates comparisons with other 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 measures
used by other companies.
Our non-IFRS financial measures reflect adjustments based on the
items below:
Non-IFRS gross profit. Excludes expenses related to share-based
compensation and amortization of acquired intangibles.
Non-IFRS operating income. Excludes expenses related to
share-based compensation and amortization of acquired
intangibles.
Non-IFRS net income and non-IFRS net income per diluted share.
Excludes expenses related to share-based compensation, amortization
of acquired intangibles and related income tax effects on these
items.
Free cash flow. Free cash flow is defined as net cash provided
by operating activities less capital expenditures, which consist of
purchases of property, equipment and software. 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.
We exclude expenses related to share-based compensation,
amortization of acquired intangibles and income tax effect on these
items 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 intangibles and the tax effects of those
items allow for more meaningful comparisons between our operating
results from period to period.
We include the effect of our outstanding share options and RSUs
in weighted-average shares used in computing non-IFRS net income
per diluted share. IFRS excludes the impact of the full weighting
of these outstanding equity awards until the effectiveness of our
initial public offering. We have presented the full weighting
impact of these additional shares from previously granted share
options and RSUs, as if they were outstanding from the date of
grant, in order to provide investors with insight into the full
impact of all potentially dilutive awards outstanding and provide
comparability.
Our 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 a measure 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 Selected 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, |
|
2015 |
|
2014 |
|
2015 |
|
2014 |
Revenues |
|
|
|
|
|
|
|
Subscription |
$ |
33,911 |
|
|
$ |
20,083 |
|
|
$ |
64,378 |
|
|
$ |
37,259 |
|
Maintenance |
53,508 |
|
|
38,451 |
|
|
103,862 |
|
|
73,203 |
|
Perpetual
license |
15,645 |
|
|
14,321 |
|
|
31,146 |
|
|
27,238 |
|
Other |
6,642 |
|
|
2,971 |
|
|
12,142 |
|
|
6,048 |
|
Total revenues |
109,706 |
|
|
75,826 |
|
|
211,528 |
|
|
143,748 |
|
Cost of revenues (1)
(2) |
18,473 |
|
|
12,354 |
|
|
34,893 |
|
|
24,200 |
|
Gross profit |
91,233 |
|
|
63,472 |
|
|
176,635 |
|
|
119,548 |
|
Operating expenses |
|
|
|
|
|
|
|
Research and
development (1) |
47,846 |
|
|
31,543 |
|
|
93,306 |
|
|
60,768 |
|
Marketing and sales (1)
(2) |
21,713 |
|
|
16,988 |
|
|
37,975 |
|
|
28,985 |
|
General and
administrative (1) |
18,307 |
|
|
10,821 |
|
|
34,909 |
|
|
23,241 |
|
Total operating
expenses |
87,866 |
|
|
59,352 |
|
|
166,190 |
|
|
112,994 |
|
Operating income |
3,367 |
|
|
4,120 |
|
|
10,445 |
|
|
6,554 |
|
Other
non-operating income (expense), net |
(181 |
) |
|
(908 |
) |
|
(784 |
) |
|
(2,127 |
) |
Finance
income |
123 |
|
|
81 |
|
|
169 |
|
|
154 |
|
Finance
costs |
(49 |
) |
|
(16 |
) |
|
(57 |
) |
|
(32 |
) |
Income before income
tax benefit |
3,260 |
|
|
3,277 |
|
|
9,773 |
|
|
4,549 |
|
Income tax benefit |
1,805 |
|
|
1,734 |
|
|
374 |
|
|
4,045 |
|
Net income |
$ |
5,065 |
|
|
$ |
5,011 |
|
|
$ |
10,147 |
|
|
$ |
8,594 |
|
Net income per share
attributable to ordinary shareholders: |
|
|
|
|
|
|
|
Basic |
$ |
0.03 |
|
|
$ |
0.03 |
|
|
$ |
0.06 |
|
|
$ |
0.05 |
|
Diluted |
$ |
0.03 |
|
|
$ |
0.03 |
|
|
$ |
0.06 |
|
|
$ |
0.05 |
|
Weighted-average shares
outstanding used to compute net income per share
attributable to ordinary shareholders: |
|
|
|
|
|
|
|
Basic |
160,328 |
|
|
144,008 |
|
|
152,168 |
|
|
144,008 |
|
Diluted |
165,730 |
|
|
145,493 |
|
|
155,576 |
|
|
145,493 |
|
______________
|
(1 |
) |
Amounts
include share-based payment expense, as follows:
|
|
Three Months Ended December 31, |
|
Six Months Ended December 31, |
|
2015 |
|
2014 |
|
2015 |
|
2014 |
Cost of revenues |
$ |
1,301 |
|
|
$ |
739 |
|
|
$ |
2,507 |
|
|
$ |
1,191 |
|
Research and
development
|
7,777 |
|
|
6,181 |
|
|
13,698 |
|
|
10,813 |
|
Marketing and
sales |
3,064 |
|
|
1,784 |
|
|
5,806 |
|
|
2,926 |
|
General and
administrative |
2,910 |
|
|
953 |
|
|
7,137 |
|
|
2,653 |
|
|
(2 |
) |
Amounts
include amortization of acquired intangibles, as follows: |
|
Three Months Ended December 31, |
|
Six Months Ended December 31, |
|
2015 |
|
2014 |
|
2015 |
|
2014 |
Cost of revenues |
$ |
1,830 |
|
|
$ |
1,529 |
|
|
$ |
3,575 |
|
|
$ |
3,151 |
|
Marketing and sales
|
22 |
|
|
8 |
|
|
43 |
|
|
16 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Atlassian Corporation Plc |
Consolidated Statements of Financial
Position |
(U.S. $ in thousands) |
|
|
|
|
|
December 31, 2015 |
|
June 30, 2015 |
|
(unaudited) |
|
|
Assets |
|
|
|
Current assets: |
|
|
|
Cash and
cash equivalents |
$ |
570,268 |
|
|
$ |
187,094 |
|
Short-term investments |
111,718 |
|
|
30,251 |
|
Trade and
other receivables |
18,273 |
|
|
13,371 |
|
Current
tax receivables |
6,857 |
|
|
939 |
|
Prepaid
expenses and other current assets |
6,792 |
|
|
6,976 |
|
Total current
assets |
713,908 |
|
|
238,631 |
|
Non-current
assets: |
|
|
|
Property
and equipment, net |
41,202 |
|
|
41,948 |
|
Deferred
tax assets |
130,297 |
|
|
81,519 |
|
Goodwill |
7,110 |
|
|
7,152 |
|
Intangible assets, net |
17,402 |
|
|
21,099 |
|
Other
non-current assets |
5,812 |
|
|
6,812 |
|
Total non-current
assets |
201,823 |
|
|
158,530 |
|
Total assets |
$ |
915,731 |
|
|
$ |
397,161 |
|
Liabilities |
|
|
|
Current
liabilities: |
|
|
|
Trade and
other payables |
$ |
41,999 |
|
|
$ |
52,636 |
|
Current
tax liabilities |
69 |
|
|
973 |
|
Provisions |
3,571 |
|
|
3,314 |
|
Deferred
revenue |
145,217 |
|
|
131,231 |
|
Total current
liabilities |
190,856 |
|
|
188,154 |
|
Non-current
liabilities: |
|
|
|
Deferred
tax liabilities |
5,515 |
|
|
4,919 |
|
Provisions |
1,898 |
|
|
1,873 |
|
Deferred
revenue |
5,600 |
|
|
5,334 |
|
Other
non-current liabilities |
7,228 |
|
|
6,827 |
|
Total non-current
liabilities |
20,241 |
|
|
18,953 |
|
Total liabilities |
$ |
211,097 |
|
|
$ |
207,107 |
|
Equity |
|
|
|
Share capital |
$ |
21,213 |
|
|
$ |
18,461 |
|
Share premium |
438,487 |
|
|
5,744 |
|
Other components of
equity |
38,952 |
|
|
39,194 |
|
Share-based payments
reserve |
180,933 |
|
|
111,753 |
|
Retained earnings |
25,049 |
|
|
14,902 |
|
Total equity |
$ |
704,634 |
|
|
$ |
190,054 |
|
Total liabilities and
equity |
$ |
915,731 |
|
|
$ |
397,161 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Atlassian Corporation Plc |
Consolidated Statements of Cash
Flows |
(U.S. $ in thousands) |
(unaudited) |
|
|
|
|
|
Three Months Ended December 31, |
|
Six Months Ended December 31, |
|
2015 |
|
2014 |
|
2015 |
|
2014 |
Operating
activities |
|
|
|
|
|
|
|
Income before income
tax |
$ |
3,260 |
|
|
$ |
3,277 |
|
|
$ |
9,773 |
|
|
$ |
4,549 |
|
Adjustments to
reconcile income before income tax to net cash provided by
operating activities: |
|
|
|
|
|
|
|
Depreciation and amortization |
5,372 |
|
|
3,551 |
|
|
9,906 |
|
|
7,139 |
|
Net loss
on disposal of property and equipment |
137 |
|
|
7 |
|
|
137 |
|
|
7 |
|
Net
unrealized foreign currency (gain) loss |
(130 |
) |
|
541 |
|
|
434 |
|
|
1,451 |
|
Share-based payment expense |
15,052 |
|
|
9,657 |
|
|
29,148 |
|
|
17,583 |
|
Change in
fair value of contingent consideration |
— |
|
|
— |
|
|
— |
|
|
(155 |
) |
Interest
income |
(123 |
) |
|
(81 |
) |
|
(169 |
) |
|
(154 |
) |
Changes
in assets and liabilities: |
|
|
|
|
|
|
|
Trade and
other receivables |
(4,552 |
) |
|
2,303 |
|
|
(4,314 |
) |
|
(724 |
) |
Prepaid
expenses and other current assets and other non-current assets |
1,850 |
|
|
212 |
|
|
(28 |
) |
|
(88 |
) |
Trade and
other payables, provisions and other non-current liabilities |
5,962 |
|
|
7,705 |
|
|
(4,742 |
) |
|
(1,834 |
) |
Deferred
revenue |
7,551 |
|
|
8,466 |
|
|
14,252 |
|
|
17,509 |
|
Interest
received |
23 |
|
|
52 |
|
|
106 |
|
|
107 |
|
Income
tax paid, net of refunds |
(2,503 |
) |
|
(1,203 |
) |
|
(8,200 |
) |
|
(1,249 |
) |
Net cash provided by
operating activities |
31,899 |
|
|
34,487 |
|
|
46,303 |
|
|
44,141 |
|
Investing
activities |
|
|
|
|
|
|
|
Business combinations,
net of cash acquired |
— |
|
|
(135 |
) |
|
— |
|
|
(3,335 |
) |
Purchases of property
and equipment |
(3,133 |
) |
|
(8,760 |
) |
|
(9,288 |
) |
|
(13,938 |
) |
Purchases of intangible
assets |
— |
|
|
— |
|
|
— |
|
|
(900 |
) |
Purchases of short-term
investments and deposits |
(112,243 |
) |
|
(82 |
) |
|
(116,643 |
) |
|
(19,318 |
) |
Proceeds from
maturities of short-term investments and deposits |
15,040 |
|
|
159 |
|
|
34,622 |
|
|
19,527 |
|
Payment of deferred
consideration |
— |
|
|
— |
|
|
(1,025 |
) |
|
— |
|
Net cash used in
investing activities |
(100,336 |
) |
|
(8,818 |
) |
|
(92,334 |
) |
|
(17,964 |
) |
Financing
activities |
|
|
|
|
|
|
|
Proceeds from issuance
of ordinary shares upon initial public offering, net of offering
costs |
433,192 |
|
|
— |
|
|
431,447 |
|
|
— |
|
Proceeds from exercise
of share options, including early exercised options |
2,291 |
|
|
286 |
|
|
3,502 |
|
|
740 |
|
Employee payroll taxes
paid related to net share settlement of equity awards |
(5,395 |
) |
|
— |
|
|
(5,395 |
) |
|
— |
|
Net cash provided by
financing activities |
430,088 |
|
|
286 |
|
|
429,554 |
|
|
740 |
|
Effect of
exchange rate changes on cash and cash equivalents |
285 |
|
|
(415 |
) |
|
(349 |
) |
|
(1,111 |
) |
Net increase in
cash and cash equivalents |
361,936 |
|
|
25,540 |
|
|
383,174 |
|
|
25,806 |
|
Cash and cash
equivalents at beginning of period |
208,332 |
|
|
117,032 |
|
|
187,094 |
|
|
116,766 |
|
Cash and cash
equivalents at end of period |
$ |
570,268 |
|
|
$ |
142,572 |
|
|
$ |
570,268 |
|
|
$ |
142,572 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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, |
|
2015 |
|
2014 |
|
2015 |
|
2014 |
Gross
profit: |
|
|
|
|
|
|
|
IFRS gross profit |
$ |
91,233 |
|
|
$ |
63,472 |
|
|
$ |
176,635 |
|
|
$ |
119,548 |
|
Plus:
Share-based payment expense |
1,301 |
|
|
739 |
|
|
2,507 |
|
|
1,191 |
|
Plus:
Amortization of acquired intangibles |
1,830 |
|
|
1,529 |
|
|
3,575 |
|
|
3,151 |
|
Non-IFRS gross
profit |
$ |
94,364 |
|
|
$ |
65,740 |
|
|
$ |
182,717 |
|
|
$ |
123,890 |
|
Operating
income: |
|
|
|
|
|
|
|
IFRS operating
income |
$ |
3,367 |
|
|
$ |
4,120 |
|
|
$ |
10,445 |
|
|
$ |
6,554 |
|
Plus:
Share-based payment expense |
15,052 |
|
|
9,657 |
|
|
29,148 |
|
|
17,583 |
|
Plus:
Amortization of acquired intangibles |
1,852 |
|
|
1,537 |
|
|
3,618 |
|
|
3,167 |
|
Non-IFRS operating
income |
$ |
20,271 |
|
|
$ |
15,314 |
|
|
$ |
43,211 |
|
|
$ |
27,304 |
|
Net
income: |
|
|
|
|
|
|
|
IFRS net income |
$ |
5,065 |
|
|
$ |
5,011 |
|
|
$ |
10,147 |
|
|
$ |
8,594 |
|
Plus:
Share-based payment expense |
15,052 |
|
|
9,657 |
|
|
29,148 |
|
|
17,583 |
|
Plus:
Amortization of acquired intangibles |
1,852 |
|
|
1,537 |
|
|
3,618 |
|
|
3,167 |
|
Less:
Income tax effects and adjustments |
(2,859 |
) |
|
(1,936 |
) |
|
(5,424 |
) |
|
(3,956 |
) |
Non-IFRS net
income |
$ |
19,110 |
|
|
$ |
14,269 |
|
|
$ |
37,489 |
|
|
$ |
25,388 |
|
Net income per
share: |
|
|
|
|
|
|
|
IFRS net income per
share - basic |
$ |
0.03 |
|
|
$ |
0.03 |
|
|
$ |
0.06 |
|
|
$ |
0.05 |
|
Plus:
Share-based payment expense |
0.10 |
|
|
0.07 |
|
|
0.20 |
|
|
0.13 |
|
Plus:
Amortization of acquired intangibles |
0.01 |
|
|
0.01 |
|
|
0.02 |
|
|
0.02 |
|
Less:
Income tax effects and adjustments |
(0.02 |
) |
|
(0.01 |
) |
|
(0.03 |
) |
|
(0.02 |
) |
Non-IFRS net income per
share - basic |
$ |
0.12 |
|
|
$ |
0.10 |
|
|
$ |
0.25 |
|
|
$ |
0.18 |
|
Weighted-average shares
used in computing basic IFRS and Non-IFRS net income per share:
|
160,328 |
|
|
144,008 |
|
|
152,168 |
|
|
144,008 |
|
|
|
|
|
|
|
|
|
IFRS net income per
share - diluted |
$ |
0.03 |
|
|
$ |
0.03 |
|
|
$ |
0.06 |
|
|
$ |
0.05 |
|
Plus:
Share-based payment expense |
0.09 |
|
|
0.06 |
|
|
0.17 |
|
|
0.11 |
|
Plus:
Amortization of acquired intangibles |
0.01 |
|
|
0.01 |
|
|
0.02 |
|
|
0.02 |
|
Less:
Income tax effects and adjustments |
(0.02 |
) |
|
(0.01 |
) |
|
(0.03 |
) |
|
(0.02 |
) |
Non-IFRS net income per
share - diluted |
$ |
0.11 |
|
|
$ |
0.09 |
|
|
$ |
0.22 |
|
|
$ |
0.16 |
|
Weighted-average shares
used in computing diluted Non-IFRS net income per share: |
179,776 |
|
|
162,370 |
|
|
172,147 |
|
|
162,661 |
|
|
|
|
|
|
|
|
|
Weighted-average diluted shares outstanding: |
|
|
|
|
|
|
|
Weighted-average shares
used in computing diluted IFRS net income per share: |
165,730 |
|
|
145,493 |
|
|
155,576 |
|
|
145,493 |
|
Plus:
Additional dilution from share options and RSUs granted in periods
prior to IPO |
14,046 |
|
|
16,877 |
|
|
16,571 |
|
|
17,168 |
|
Weighted-average shares
used in computing diluted non-IFRS net income per share: |
179,776 |
|
|
162,370 |
|
|
172,147 |
|
|
162,661 |
|
Free cash
flow: |
|
|
|
|
|
|
|
IFRS net cash provided
by operating activities |
$ |
31,899 |
|
|
$ |
34,487 |
|
|
$ |
46,303 |
|
|
$ |
44,141 |
|
Less:
Capital expenditures |
(3,133 |
) |
|
(8,760 |
) |
|
(9,288 |
) |
|
(14,838 |
) |
Free cash flow |
$ |
28,766 |
|
|
$ |
25,727 |
|
|
$ |
37,015 |
|
|
$ |
29,303 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Atlassian Corporation Plc |
Reconciliation of Selected IFRS to Non-IFRS
Financial Targets |
|
|
|
|
|
Three months ended March 30, 2016 |
|
Twelve months ended June 30, 2016 |
Revenue |
$113 million to $115 million |
|
$443 million to $447 million |
|
|
|
|
IFRS gross
profit |
|
82 |
% |
|
|
83 |
% |
Share-based payment expense |
|
2 |
|
|
|
1 |
|
Amortization of acquired intangibles |
|
2 |
|
|
|
2 |
|
Non-IFRS gross
profit |
|
86 |
% |
|
|
86 |
% |
|
|
|
|
IFRS operating
income |
(9)% to (8)%
|
|
|
(4 |
)%
|
Share-based payment expense |
|
18 |
|
|
|
17 |
|
Amortization of acquired intangibles |
|
2 |
|
|
|
2 |
|
Non-IFRS
operating income |
11%
to 12% |
|
|
15 |
% |
|
IFRS net loss
per share - diluted |
($ |
0.05 |
)
|
|
($0.11) to ($0.10) |
Share-based payment expense |
|
0.09 |
|
|
|
0.37 |
|
Amortization of acquired intangibles |
|
0.01 |
|
|
|
0.04 |
|
Income
tax effects and adjustments |
|
0.01 |
|
|
|
0.00 |
|
Non-IFRS net
income per share - diluted |
$0.05 to $0.06
|
|
$0.30 to $0.31 |
Weighted-averages shares used in computing diluted
non-IFRS net income per share
|
231 million to 233 million
|
|
202 million to 204 million |
|
Investor Relations Contact
Ian Lee
IR@atlassian.com
Media Contact
Heather Staples
press@atlassian.com
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