Quarterly revenue of $117.9 million, up 40%
year-over-year
Atlassian Corporation Plc (NASDAQ:TEAM), a leading provider of team
collaboration and productivity software, today announced financial
results for its third quarter of fiscal 2016 ended March 31,
2016.
“We achieved another solid quarter of top-line and free cash
flow growth,” said Scott Farquhar, Atlassian’s co-CEO and
co-founder. “Our unique ability to solve the full set of
collaboration needs for teams is driving momentum across our
products. Customers increasingly rely on Atlassian products to
boost the productivity of their technical and non-technical teams
by improving how those teams communicate, create and share
information, and track work.”
Third Quarter Fiscal Year 2016 Financial
Highlights:
On an IFRS basis, Atlassian reported:
- Revenue: Total revenue was $117.9 million for
the third quarter of fiscal 2016, up 40% from $84.0 million for the
third quarter of fiscal 2015.
- Operating Loss: Operating loss was
$4.9 million for the third quarter of fiscal 2016, compared
with $1.5 million for the third quarter of fiscal 2015.
- Net Loss and Net Loss Per Diluted
Share: Net loss was $1.1 million for
the third quarter of fiscal 2016, compared with $0.6
million for the third quarter of fiscal 2015. Net loss
per diluted share was $0.01 for
the third quarter of fiscal 2016, compared with $0.00 per
diluted share for the third quarter of fiscal 2015.
- Balance Sheet: Cash and cash equivalents
and short-term investments at the end of
the third quarter of fiscal 2016 totaled $723.3
million.
On a non-IFRS basis, Atlassian reported:
- Operating Income: Operating income
was $18.3 million for the third quarter of
fiscal 2016, compared with $11.1 million for
the third quarter of fiscal 2015.
- Net Income and Net Income Per Diluted
Share: Net income was $17.0 million for
the third quarter of fiscal 2016, compared
with $9.4 million for the third quarter of
fiscal 2015. Net income per diluted share was $0.07 for
the third quarter of fiscal 2016, compared with $0.06 per
diluted share for the third quarter of fiscal 2015.
- Free Cash Flow: Cash flow from operations for
the third quarter of fiscal 2016 was $48.2 million while capital
expenditures totaled $7.5 million, leading to free cash flow of
$40.7 million, an increase of 39% year-over-year.
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:
- Customer growth: Atlassian ended
the third quarter of fiscal 2016 with a total customer
count on an active subscription or maintenance agreement
basis of 57,431, a 26% increase over March 31, 2015.
Atlassian added 3,169 net new customers during the quarter.
- Best place to work: During the quarter,
Atlassian was named the #1 best large workplace in
Asia and the #1 place to work in the Netherlands for 2016.
This continues Atlassian’s recognition as a great place to work.
For companies with less than a thousand employees, Atlassian was
named the #2 place to work in the United States in 2015. And in
Australia, across companies of all sizes, Atlassian was recognized
as the #1 place to work for the second year in a row in 2015.
- Advanced diversity reporting: In March,
Atlassian released its first diversity report, taking a
groundbreaking approach by focusing on team diversity data.
Team-level data provides crucial insight into how well people from
underrepresented backgrounds are spread across the company.
Atlassian also revealed its ‘n-Space’ approach to pursuing a more
inclusive culture, expanding its analysis beyond traditional
diversity metrics by adding LGBT identification, international
representation and age - a first for the tech industry - to its
report.
Financial Targets:
Atlassian is providing its financial targets for the fourth
quarter and full fiscal year 2016. The company’s financial targets
are as follows:
- Fourth Quarter Fiscal Year
2016:
- Total revenue is expected to be in the range of $123 million to
$125 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 (13%) on an IFRS basis
and 10% 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 approximately $0.05 on a non-IFRS basis.
- Fiscal Year 2016:
- Total revenue is expected to be in the range of $452 million to
$454 million.
- Gross margin is expected to be approximately 83% on an IFRS
basis and approximately 86% on a non-IFRS basis.
- Operating margin is expected to be approximately (2%) on an
IFRS basis and approximately 16% on a non-IFRS basis.
- Weighted average share count is expected to be in the range of
201 million to 203 million shares on a fully diluted basis.
- Net loss per diluted share is expected to be approximately
($0.01) on an IFRS basis, and net income per diluted share is
expected to be approximately $0.33 on a non-IFRS basis.
- Free cash flow is expected to be in the range of $87 million to
$90 million.
With respect to Atlassian’s expectations under “Financial
Targets” above, a reconciliation of IFRS to non-IFRS gross margin,
operating 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: May 5, 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.
- Dial in: To access the call via
telephone in North America, please dial 1-888-346-0688. For
international callers, please dial
1-412-902-4250. 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 10083200). International
callers, please dial 1-412-317-0088 (access code 10083200).
Atlassian has used, and intends to continue to use, its Investor
Relations website (https://investors.atlassian.com), as a means of
disclosing material non-public information and for complying with
its disclosure obligations.
About Atlassian
Atlassian unleashes the potential in every team. Our
collaboration software helps teams organize, discuss and complete
shared work. Teams at more than 57,000 large and small
organizations - including Citigroup, eBay, Coca-Cola, Visa, BMW and
NASA - use Atlassian’s project tracking, content creation and
sharing, 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, and our financial targets such as revenue, share count and
IFRS and non-IFRS financial measures including gross margin,
operating 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 filed on February
10, 2016. 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.
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 (“IPO”). 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.
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.
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 March 31, |
|
Nine Months Ended March 31, |
|
2016 |
|
2015 |
|
2016 |
|
2015 |
Revenues |
|
|
|
|
|
|
|
Subscription |
$ |
38,691 |
|
|
$ |
22,609 |
|
|
$ |
103,069 |
|
|
$ |
59,868 |
|
Maintenance |
56,178 |
|
|
41,276 |
|
|
160,040 |
|
|
114,479 |
|
Perpetual license |
16,430 |
|
|
14,823 |
|
|
47,576 |
|
|
42,061 |
|
Other |
6,643 |
|
|
5,255 |
|
|
18,785 |
|
|
11,303 |
|
Total revenues |
117,942 |
|
|
83,963 |
|
|
329,470 |
|
|
227,711 |
|
Cost of revenues (1)
(2) |
19,764 |
|
|
13,468 |
|
|
54,657 |
|
|
37,668 |
|
Gross profit |
98,178 |
|
|
70,495 |
|
|
274,813 |
|
|
190,043 |
|
Operating expenses |
|
|
|
|
|
|
|
Research and
development (1) |
54,170 |
|
|
36,910 |
|
|
147,476 |
|
|
97,678 |
|
Marketing and sales (1)
(2) |
24,436 |
|
|
19,773 |
|
|
62,411 |
|
|
48,758 |
|
General and
administrative (1) |
24,507 |
|
|
15,310 |
|
|
59,416 |
|
|
38,551 |
|
Total operating
expenses |
103,113 |
|
|
71,993 |
|
|
269,303 |
|
|
184,987 |
|
Operating income
(loss) |
(4,935 |
) |
|
(1,498 |
) |
|
5,510 |
|
|
5,056 |
|
Other non-operating income
(expense), net |
54 |
|
|
(1,267 |
) |
|
(730 |
) |
|
(3,394 |
) |
Finance income |
703 |
|
|
22 |
|
|
872 |
|
|
176 |
|
Finance costs |
(5 |
) |
|
(32 |
) |
|
(62 |
) |
|
(64 |
) |
Income (loss) before
income tax benefit |
(4,183 |
) |
|
(2,775 |
) |
|
5,590 |
|
|
1,774 |
|
Income tax benefit |
3,111 |
|
|
2,127 |
|
|
3,485 |
|
|
6,172 |
|
Net income (loss) |
$ |
(1,072 |
) |
|
$ |
(648 |
) |
|
$ |
9,075 |
|
|
$ |
7,946 |
|
Net income (loss) per
share attributable to ordinary shareholders: |
|
|
|
|
|
|
|
Basic |
$ |
(0.01 |
) |
|
$ |
0.00 |
|
|
$ |
0.05 |
|
|
$ |
0.05 |
|
Diluted |
$ |
(0.01 |
) |
|
$ |
0.00 |
|
|
$ |
0.05 |
|
|
$ |
0.05 |
|
Weighted-average shares
outstanding used to compute net income (loss) per share
attributable to ordinary shareholders: |
|
|
|
|
|
|
|
Basic |
212,920 |
|
|
144,008 |
|
|
172,272 |
|
|
144,008 |
|
Diluted |
212,920 |
|
|
144,008 |
|
|
180,417 |
|
|
145,499 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) Amounts include
share-based payment expense, as follows: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three
Months Ended March 31, |
|
Nine Months
Ended March 31, |
|
2016 |
|
2015 |
|
2016 |
|
2015 |
Cost of revenues |
$ |
1,258 |
|
|
$ |
784 |
|
|
$ |
3,765 |
|
|
$ |
1,975 |
|
Research and development |
|
9,495 |
|
|
|
5,585 |
|
|
|
23,193 |
|
|
|
16,398 |
|
Marketing and sales |
|
2,754 |
|
|
|
1,775 |
|
|
|
8,560 |
|
|
|
4,701 |
|
General and administrative |
|
7,739 |
|
|
|
2,887 |
|
|
|
14,876 |
|
|
|
5,540 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(2) Amounts include amortization of acquired
intangibles, as follows: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three
Months Ended March 31, |
|
Nine Months Ended March 31, |
|
2016 |
|
2015 |
|
2016 |
|
2015 |
Cost of revenues |
$ |
1,921 |
|
|
$ |
1,529 |
|
|
$ |
5,496 |
|
|
$ |
4,680 |
|
Marketing and sales |
|
22 |
|
|
|
8 |
|
|
|
65 |
|
|
|
24 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Atlassian Corporation Plc |
Consolidated Statements of Financial
Position |
(U.S. $ in thousands) |
|
|
March 31, 2016 |
|
June 30, 2015 |
|
(unaudited) |
|
|
Assets |
|
|
|
Current assets: |
|
|
|
Cash and cash equivalents |
$ |
312,894 |
|
|
$ |
187,094 |
|
Short-term investments |
410,381 |
|
|
30,251 |
|
Trade and other receivables |
17,497 |
|
|
13,371 |
|
Current tax receivables |
1,686 |
|
|
939 |
|
Prepaid expenses and other current
assets |
7,747 |
|
|
6,976 |
|
Total current
assets |
750,205 |
|
|
238,631 |
|
Non-current
assets: |
|
|
|
Property and equipment, net |
48,231 |
|
|
41,948 |
|
Deferred tax assets |
119,512 |
|
|
81,519 |
|
Goodwill |
7,172 |
|
|
7,152 |
|
Intangible assets, net |
15,561 |
|
|
21,099 |
|
Other non-current assets |
5,691 |
|
|
6,812 |
|
Total non-current
assets |
196,167 |
|
|
158,530 |
|
Total assets |
$ |
946,372 |
|
|
$ |
397,161 |
|
Liabilities |
|
|
|
Current
liabilities: |
|
|
|
Trade and other payables |
$ |
54,473 |
|
|
$ |
52,636 |
|
Current tax liabilities |
99 |
|
|
973 |
|
Provisions |
4,180 |
|
|
3,314 |
|
Deferred revenue |
158,872 |
|
|
131,231 |
|
Total current
liabilities |
217,624 |
|
|
188,154 |
|
Non-current
liabilities: |
|
|
|
Deferred tax liabilities |
5,015 |
|
|
4,919 |
|
Provisions |
2,078 |
|
|
1,873 |
|
Deferred revenue |
7,217 |
|
|
5,334 |
|
Other non-current liabilities |
7,733 |
|
|
6,827 |
|
Total non-current
liabilities |
22,043 |
|
|
18,953 |
|
Total liabilities |
$ |
239,667 |
|
|
$ |
207,107 |
|
Equity |
|
|
|
Share capital |
$ |
21,319 |
|
|
$ |
18,461 |
|
Share premium |
439,327 |
|
|
5,744 |
|
Other components of
equity |
39,814 |
|
|
39,194 |
|
Share-based payments
reserve |
182,268 |
|
|
111,753 |
|
Retained earnings |
23,977 |
|
|
14,902 |
|
Total equity |
$ |
706,705 |
|
|
$ |
190,054 |
|
Total liabilities and
equity |
$ |
946,372 |
|
|
$ |
397,161 |
|
Atlassian Corporation Plc |
Consolidated Statements of Cash
Flows |
(U.S. $ in thousands) |
(unaudited) |
|
|
Three Months Ended March 31, |
|
Nine Months Ended March 31, |
|
2016 |
|
2015 |
|
2016 |
|
2015 |
Operating
activities |
|
|
|
|
|
|
|
Income (loss) before
income tax |
$ |
(4,183 |
) |
|
$ |
(2,775 |
) |
|
$ |
5,590 |
|
|
$ |
1,774 |
|
Adjustments to
reconcile income (loss) before income tax to net cash provided by
operating activities: |
|
|
|
|
|
|
|
Depreciation and amortization |
5,678 |
|
|
3,813 |
|
|
15,584 |
|
|
10,952 |
|
Net loss on disposal of property
and equipment |
61 |
|
|
45 |
|
|
198 |
|
|
52 |
|
Net unrealized foreign currency
(gain) loss |
(442 |
) |
|
878 |
|
|
(8 |
) |
|
2,329 |
|
Share-based payment expense |
21,246 |
|
|
11,031 |
|
|
50,394 |
|
|
28,614 |
|
Change in fair value of contingent
consideration |
— |
|
|
— |
|
|
— |
|
|
(155 |
) |
Interest income |
(703 |
) |
|
(22 |
) |
|
(872 |
) |
|
(176 |
) |
Changes in assets and
liabilities: |
|
|
|
|
|
|
|
Trade and other receivables |
1,003 |
|
|
(6,714 |
) |
|
(3,311 |
) |
|
(7,438 |
) |
Prepaid expenses and other current
assets and other non-current assets |
(796 |
) |
|
(2,665 |
) |
|
(824 |
) |
|
(2,753 |
) |
Trade and other payables,
provisions and other non-current liabilities |
10,717 |
|
|
14,538 |
|
|
5,975 |
|
|
12,704 |
|
Deferred revenue |
15,272 |
|
|
15,969 |
|
|
29,524 |
|
|
33,478 |
|
Interest received |
1,352 |
|
|
36 |
|
|
1,458 |
|
|
143 |
|
Income tax paid, net of
refunds |
(961 |
) |
|
(831 |
) |
|
(9,161 |
) |
|
(2,080 |
) |
Net cash provided by
operating activities |
48,244 |
|
|
33,303 |
|
|
94,547 |
|
|
77,444 |
|
Investing
activities |
|
|
|
|
|
|
|
Business combinations,
net of cash acquired |
— |
|
|
— |
|
|
— |
|
|
(3,335 |
) |
Purchases of property
and equipment |
(7,531 |
) |
|
(4,108 |
) |
|
(16,819 |
) |
|
(18,046 |
) |
Purchases of intangible
assets |
— |
|
|
— |
|
|
— |
|
|
(900 |
) |
Purchases of
investments |
(318,785 |
) |
|
(15,426 |
) |
|
(435,428 |
) |
|
(34,744 |
) |
Proceeds from
maturities of investments |
13,202 |
|
|
14,950 |
|
|
47,824 |
|
|
34,477 |
|
Proceeds from sales of
investments |
6,361 |
|
|
— |
|
|
6,361 |
|
|
— |
|
Payment of deferred
consideration |
— |
|
|
— |
|
|
(1,025 |
) |
|
— |
|
Net cash used in
investing activities |
(306,753 |
) |
|
(4,584 |
) |
|
(399,087 |
) |
|
(22,548 |
) |
Financing
activities |
|
|
|
|
|
|
|
Proceeds from issuance
of ordinary shares upon initial public offering, net of offering
costs |
— |
|
|
— |
|
|
431,447 |
|
|
— |
|
Proceeds from exercise
of share options, including early exercised options |
764 |
|
|
485 |
|
|
4,266 |
|
|
1,225 |
|
Employee payroll taxes
paid related to net share settlement of equity awards |
— |
|
|
— |
|
|
(5,395 |
) |
|
— |
|
Net cash provided by
financing activities |
764 |
|
|
485 |
|
|
430,318 |
|
|
1,225 |
|
Effect of
exchange rate changes on cash and cash equivalents |
371 |
|
|
(604 |
) |
|
22 |
|
|
(1,715 |
) |
Net increase
(decrease) in cash and cash equivalents |
(257,374 |
) |
|
28,600 |
|
|
125,800 |
|
|
54,406 |
|
Cash and cash
equivalents at beginning of period |
570,268 |
|
|
142,572 |
|
|
187,094 |
|
|
116,766 |
|
Cash and cash
equivalents at end of period |
$ |
312,894 |
|
|
$ |
171,172 |
|
|
$ |
312,894 |
|
|
$ |
171,172 |
|
Atlassian Corporation Plc |
Reconciliation of IFRS to Non-IFRS
Results |
(U.S. $ and shares in thousands, except per
share data) |
(unaudited) |
|
|
Three Months Ended March 31, |
|
Nine Months Ended March 31, |
|
2016 |
|
2015 |
|
2016 |
|
2015 |
Gross
profit: |
|
|
|
|
|
|
|
IFRS gross profit |
$ |
98,178 |
|
|
$ |
70,495 |
|
|
$ |
274,813 |
|
|
$ |
190,043 |
|
Plus: Share-based payment
expense |
1,258 |
|
|
784 |
|
|
3,765 |
|
|
1,975 |
|
Plus: Amortization of acquired
intangibles |
1,921 |
|
|
1,529 |
|
|
5,496 |
|
|
4,680 |
|
Non-IFRS gross
profit |
$ |
101,357 |
|
|
$ |
72,808 |
|
|
$ |
284,074 |
|
|
$ |
196,698 |
|
Operating
income: |
|
|
|
|
|
|
|
IFRS operating income
(loss) |
$ |
(4,935 |
) |
|
$ |
(1,498 |
) |
|
$ |
5,510 |
|
|
$ |
5,056 |
|
Plus: Share-based payment
expense |
21,246 |
|
|
11,031 |
|
|
50,394 |
|
|
28,614 |
|
Plus: Amortization of acquired
intangibles |
1,943 |
|
|
1,537 |
|
|
5,561 |
|
|
4,704 |
|
Non-IFRS operating
income |
$ |
18,254 |
|
|
$ |
11,070 |
|
|
$ |
61,465 |
|
|
$ |
38,374 |
|
Net
income: |
|
|
|
|
|
|
|
IFRS net income
(loss) |
$ |
(1,072 |
) |
|
$ |
(648 |
) |
|
$ |
9,075 |
|
|
$ |
7,946 |
|
Plus: Share-based payment
expense |
21,246 |
|
|
11,031 |
|
|
50,394 |
|
|
28,614 |
|
Plus: Amortization of acquired
intangibles |
1,943 |
|
|
1,537 |
|
|
5,561 |
|
|
4,704 |
|
Less: Income tax effects and
adjustments |
(5,157 |
) |
|
(2,517 |
) |
|
(10,581 |
) |
|
(6,473 |
) |
Non-IFRS net
income |
$ |
16,960 |
|
|
$ |
9,403 |
|
|
$ |
54,449 |
|
|
$ |
34,791 |
|
Net income per
share: |
|
|
|
|
|
|
|
IFRS net income (loss)
per share - basic |
$ |
(0.01 |
) |
|
$ |
0.00 |
|
|
$ |
0.05 |
|
|
$ |
0.05 |
|
Plus: Share-based payment
expense |
0.10 |
|
|
0.08 |
|
|
0.30 |
|
|
0.20 |
|
Plus: Amortization of acquired
intangibles |
0.01 |
|
|
0.01 |
|
|
0.03 |
|
|
0.03 |
|
Less: Income tax effects and
adjustments |
(0.02 |
) |
|
(0.02 |
) |
|
(0.06 |
) |
|
(0.04 |
) |
Non-IFRS net income per
share - basic |
$ |
0.08 |
|
|
$ |
0.07 |
|
|
$ |
0.32 |
|
|
$ |
0.24 |
|
IFRS net income (loss)
per share - diluted |
$ |
(0.01 |
) |
|
$ |
0.00 |
|
|
$ |
0.05 |
|
|
$ |
0.05 |
|
Plus: Share-based payment
expense |
0.09 |
|
|
0.07 |
|
|
0.26 |
|
|
0.17 |
|
Plus: Amortization of acquired
intangibles |
0.01 |
|
|
0.01 |
|
|
0.03 |
|
|
0.03 |
|
Less: Income tax effects and
adjustments |
(0.02 |
) |
|
(0.02 |
) |
|
(0.06 |
) |
|
(0.04 |
) |
Non-IFRS net income per
share - diluted |
$ |
0.07 |
|
|
$ |
0.06 |
|
|
$ |
0.28 |
|
|
$ |
0.21 |
|
Weighted-average diluted shares outstanding: |
|
|
|
|
|
|
|
Weighted-average shares
used in computing diluted IFRS net income (loss) per share |
212,920 |
|
|
144,008 |
|
|
180,417 |
|
|
145,499 |
|
Dilution from share options and
RSUs (1) |
18,023 |
|
|
1,494 |
|
|
— |
|
|
— |
|
Dilution from share options and
RSUs granted in periods prior to IPO (2) |
— |
|
|
18,335 |
|
|
11,247 |
|
|
18,132 |
|
Weighted-average shares
used in computing diluted non-IFRS net income per share |
230,943 |
|
|
163,837 |
|
|
191,664 |
|
|
163,631 |
|
Free cash
flow: |
|
|
|
|
|
|
|
IFRS net cash provided
by operating activities |
$ |
48,244 |
|
|
$ |
33,303 |
|
|
$ |
94,547 |
|
|
$ |
77,444 |
|
Less: Capital expenditures |
(7,531 |
) |
|
(4,108 |
) |
|
(16,819 |
) |
|
(18,946 |
) |
Free cash flow |
$ |
40,713 |
|
|
$ |
29,195 |
|
|
$ |
77,728 |
|
|
$ |
58,498 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(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 March 31, 2016 and 2015 because the effect
would have been anti-dilutive.(2) Gives effect to unvested
share options and RSUs in periods prior to our IPO for
comparability.
Atlassian Corporation Plc |
Reconciliation of Selected IFRS to Non-IFRS
Financial Targets |
|
|
Three months ended June 30, 2016 |
|
Twelve months ended June 30, 2016 |
Revenue |
$123 million to $125 million |
|
|
$452 million to $454 million |
|
|
|
|
|
IFRS gross
margin |
|
82 |
% |
|
|
83 |
% |
Share-based payment expense |
|
1 |
|
|
|
1 |
|
Amortization of acquired
intangibles |
|
2 |
|
|
|
2 |
|
Non-IFRS gross
margin |
|
85 |
% |
|
|
86 |
% |
|
|
|
|
IFRS operating
margin |
|
(13 |
%) |
|
|
(2 |
%) |
Share-based payment expense |
|
21 |
|
|
|
16 |
|
Amortization of acquired
intangibles |
|
2 |
|
|
|
2 |
|
Non-IFRS
operating margin |
|
10 |
% |
|
|
16 |
% |
|
|
|
|
IFRS net loss
per share - diluted |
$ |
(0.05 |
) |
|
$ |
(0.01 |
) |
Share-based payment expense |
|
0.12 |
|
|
|
0.38 |
|
Amortization of acquired
intangibles |
|
0.01 |
|
|
|
0.04 |
|
Income tax effects and
adjustments |
|
(0.03 |
) |
|
|
(0.08 |
) |
Non-IFRS net
income per share - diluted |
$ |
0.05 |
|
|
$ |
0.33 |
|
Weighted-averages shares used in computing diluted non-IFRS
net income per share |
231 million to 233 million |
|
|
201 million to 203 million |
|
Investor Relations Contact
Ian Lee
IR@atlassian.com
Media Contact
Heather Staples
press@atlassian.com
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