[October 18, 2018] |
|
Atlassian Announces First Quarter Fiscal Year 2019 Results
Atlassian Corporation Plc (NASDAQ: TEAM), a leading provider of team
collaboration and productivity software, today announced financial
results for its first quarter of fiscal 2019 ended September 30,
2018 and released a shareholder letter on the Investor Relations section
of its website at https://investors.atlassian.com.
All financial results and targets are based on the new revenue
recognition standard IFRS 15, which the company adopted on July 1, 2018.
"We had a great start to fiscal 2019, highlighted by Atlassian Summit
Europe in Barcelona, where we had the opportunity to interact with our
European customers and discuss the latest updates across our products
and company," said Scott Farquhar, Atlassian's co-CEO and co-founder.
"At Summit, we shared two significant announcements targeted at a
critically important workflow for modern IT teams - the incident
management lifecycle. We announced the acquisition of OpsGenie, a leader
in incident alerting and rostering. And we introduced a new product -
Jira Ops - a unified incident command center for IT teams to coordinate
response and resolution. Alongside our other offerings, these two
products support our efforts to deepen Atlassian's focus on IT teams in
fiscal 2019 and help realize our broader mission to unleash the
potential of every team."
First Quarter Fiscal Year 2019 Financial Highlights:
On an IFRS basis, Atlassian reported:
-
Revenue: Total revenue was $267.3 million for the first quarter
of fiscal 2019, up 37% from $195.5 million for the first quarter of
fiscal 2018.
-
Operating Loss and Operating Margin: Operating loss was
$0.2 million for the first quarter of fiscal 2019, compared with $20.3
million for the first quarter of fiscal 2018. Operating margin was 0%
for the first quarter of fiscal 2019, compared with (10%) for
the first quarter of fiscal 2018.
-
Net Loss and Net Loss Per Diluted Share: Net loss was
$242.4 million for the first quarter of fiscal 2019, compared with
$11.5 million for the first quarter of fiscal 2018. Net loss per
diluted share was $1.03 for the first quarter of fiscal 2019, compared
with $0.05 for the first quarter of fiscal 2018.
Net
loss for the first quarter of fiscal 2019 included a non-cash charge
to other non-operating expense and finance costs totaling $244.7
million, primarily as a result of marking to fair value the exchange
feature on Atlassian's exchangeable senior notes and the related
capped calls.
-
Balance Sheet: Cash and cash equivalents, and short-term
investments at the end of the first quarter of fiscal
2019 totaled $1.8 billion.
On a non-IFRS basis, Atlassian reported:
-
Operating Income and Operating Margin: Operating income
was $62.5 million for the first quarter of fiscal 2019, compared with
$38.2 million for the first quarter of fiscal 2018. Operating margin
was 23% for the first quarter of fiscal 2019, compared with 20% for
the first quarter of fiscal 2018.
-
Net Income and Net Income Per Diluted Share: Net
income was $49.2 million for the first quarter of fiscal 2019,
compared with $32.5 million for the first quarter of fiscal 2018. Net
income per diluted share was $0.20 for the first quarter of fiscal
2019, compared with $0.13 per diluted share for the first quarter of
fiscal 2018.
-
Free Cash Flow: Cash flow from operations for the first quarter
of fiscal 2019 was $84.9 million, while capital expenditures totaled
$10.7 million, resulting in free cash flow of $74.2 million, an
increase of 18% 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 first quarter of fiscal
2019 with a total customer count, on an active subscription or
maintenance agreement basis, of 131,684, having added 5,888 net new
customers during the quarter.
-
OpsGenie acquisition: On September 4, 2018, Atlassian
announced that it entered into a definitive agreement to acquire
OpsGenie, whose technology enables companies to better plan for and
respond to IT service disruptions. When outages occur, OpsGenie's
technology quickly routes alerts to the appropriate IT teams, speeding
diagnosis and resolution, and reducing downtime. The acquisition is
valued at approximately $295 million, comprising approximately $259
million in cash and the remainder in Atlassian restricted shares. The
acquisition closed on October 1, 2018.
-
Jira Ops launch: Atlassian introduced its newest product, Jira
Ops, an end-to-end incident management platform. Jira Ops will serve
as a unified incident command center for IT and software teams,
providing them a central place to coordinate work during an incident.
Financial Targets:
Atlassian is providing its financial targets for the second quarter and
full fiscal year 2019. The company's financial targets are as follows:
-
Second Quarter Fiscal Year 2019:
-
Total revenue is expected to be in the range of $287 million to
$289 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 (6%) on an IFRS
basis and approximately 22% on a non-IFRS basis.
-
Net loss per diluted share is expected to be approximately ($0.07)
on an IFRS basis, and net income per diluted share is expected to
be approximately $0.21 on a non-IFRS basis.
-
Weighted average share count is expected to be in the range of 238
million to 239 million shares when calculating diluted IFRS net
loss per share and in the range of 249 million to 250 million
shares when calculating diluted non-IFRS net income per share.
-
Fiscal Year 2019:
-
Total revenue is expected to be in the range of $1,175 million to
$1,183 million.
-
Gross margin is expected to be in the range of 82% to 83% on an
IFRS basis and in the range of 85% to 86% on a non-IFRS basis.
-
Operating margin is expected to be approximately (7%) on an IFRS
basis and approximately 20% on a non-IFRS basis.
-
Net loss per diluted share is expected to be approximately ($1.30)
on an IFRS basis, and net income per diluted share is expected to
be approximately $0.78 on a non-IFRS basis.
-
Weighted average share count is expected to be in the range of 238
million to 240 million shares when calculating diluted IFRS net
loss per share and in the range of 250 million to 252 million
shares when calculating diluted non-IFRS net income per share.
-
Free cash flow is expected to be in the range of $360 million to
$370 million, which includes capital expenditures that are
expected to be approximately $40 million.
With respect to Atlassian's expectations under "Financial Targets"
above, a reconciliation of IFRS to non-IFRS gross margin, operating
margin, net income per diluted share, and free cash flow has been
provided in the financial statement tables included in this press
release.
Shareholder Letter and Webcast/Conference Call Details
A detailed shareholder letter is available on the Investor Relations
section of Atlassian's website at: https://investors.atlassian.com. Atlassian
will host a webcast and conference call to answer questions today:
-
When: Thursday, October 18, 2018 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: https://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 10124506). International callers, please dial
1-412-317-0088 (access code 10124506).
Atlassian has used, and will continue to use, its Investor Relations
website at https://investors.atlassian.com
as a means of making material information public and for complying with
its disclosure obligations.
About Atlassian
Atlassian unleashes the potential of every team. Our team collaboration
and productivity software helps teams organize, discuss and complete
shared work. Teams at more than 131,000 customers, across large and
small organizations - including General Motors, Walmart Labs, Bank of
America Merrill Lynch, Lyft, Verizon, Spotify and NASA - use Atlassian's
project tracking, content creation and sharing, and service management
products to work better together and deliver quality results on time.
Learn more about our products, including Jira Software, Confluence,
Trello, Bitbucket and Jira Service Desk, at https://atlassian.com/.
Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995, which
statements involve substantial risks and uncertainties. All statements
other than statements of historical fact could be deemed forward
looking, including risks and uncertainties related to statements about
our products, customers, anticipated benefits of the OpsGenie
acquisition, market expansion, 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 (loss) per diluted share, and free cash flow.
We undertake 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, our 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 our
financial results is included in filings we make with the Securities and
Exchange Commission from time to time, including the section titled
"Risk Factors" in our most recent Forms 20-F and 6-K (reporting our
quarterly results). These documents are available on the SEC Filings
section of the Investor Relations section of our website at: https://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 these non-IFRS
financial measures provides consistency and comparability with our past
financial performance, facilitates period-to-period comparisons of our
results of operations, and also facilitates comparisons with 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 or non-GAAP
measures used by other companies.
Our non-IFRS financial measures include:
-
Non-IFRS gross profit. Excludes expenses related to
share-based compensation and amortization of acquired intangible
assets.
-
Non-IFRS operating income. Excludes expenses related to
share-based compensation and amortization of acquired intangible
assets.
-
Non-IFRS net income and non-IFRS net income per diluted share. Excludes
expenses related to share- based compensation, amortization of
acquired intangible assets, non-coupon impact related to exchangeable
senior notes and capped calls, the related income tax effects on these
items, and changes in our assessment regarding the realizability of
our deferred tax assets.
-
Free cash flow. Free cash flow is defined as net cash
provided by operating activities less capital expenditures, which
consists of purchases of property and equipment.
Our non-IFRS financial measures reflect adjustments based on the items
below:
-
Share-based compensation
-
Amortization of acquired intangible assets
-
Non-coupon impact related to exchangeable senior notes and capped
calls:
-
Amortization of notes discount and issuance costs
-
Mark to fair value of the exchangeable senior notes exchange
feature
-
Mark to fair value of the related capped call transactions
-
The related income tax effects on these items, and changes in our
assessment regarding the realizability of our deferred tax assets
We exclude expenses related to share-based compensation, amortization of
acquired intangible assets, non-coupon impact related to exchangeable
senior notes and capped calls, the related income tax effects on these
items, and changes in our assessment regarding the realizability of our
deferred tax assets 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
intangible assets, non-coupon impact related to exchangeable senior
notes and capped calls, the related income tax effects on these items,
and changes in our assessment regarding the realizability of our
deferred tax assets allow for more meaningful comparisons between our
operating results from period to period.
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.
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 measures 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 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 September 30,
|
|
|
2018
|
|
2017
|
|
|
|
|
*As Adjusted
|
Revenues:
|
|
|
|
|
|
|
Subscription
|
|
$
|
134,065
|
|
|
$
|
86,391
|
|
Maintenance
|
|
|
92,736
|
|
|
76,219
|
|
Perpetual license
|
|
|
21,839
|
|
|
19,448
|
|
Other
|
|
|
18,652
|
|
|
13,422
|
|
Total revenues
|
|
|
267,292
|
|
|
195,480
|
|
Cost of revenues (1) (2)
|
|
|
45,185
|
|
|
40,090
|
|
Gross profit
|
|
|
222,107
|
|
|
155,390
|
|
Operating expenses:
|
|
|
|
|
|
|
Research and development (1)
|
|
|
124,380
|
|
|
94,862
|
|
Marketing and sales (1) (2)
|
|
|
52,262
|
|
|
45,092
|
|
General and administrative (1)
|
|
|
45,657
|
|
|
35,725
|
|
Total operating expenses
|
|
|
222,299
|
|
|
175,679
|
|
Operating loss
|
|
|
(192
|
)
|
|
(20,289
|
)
|
Other non-operating expense, net
|
|
|
(237,248
|
)
|
|
(665
|
)
|
Finance income
|
|
|
7,266
|
|
|
1,255
|
|
Finance costs
|
|
|
(9,902
|
)
|
|
(9
|
)
|
Loss before income tax (expense) benefit
|
|
|
(240,076
|
)
|
|
(19,708
|
)
|
Income tax (expense) benefit
|
|
|
(2,369
|
)
|
|
8,238
|
|
Net loss
|
|
$
|
(242,445
|
)
|
|
$
|
(11,470
|
)
|
Net loss per share attributable to ordinary shareholders:
|
|
|
|
|
|
|
Basic
|
|
$
|
(1.03
|
)
|
|
$
|
(0.05
|
)
|
Diluted
|
|
$
|
(1.03
|
)
|
|
$
|
(0.05
|
)
|
Weighted-average shares outstanding used to compute net loss per
share attributable to ordinary shareholders:
|
|
|
|
|
|
|
Basic
|
|
|
236,219
|
|
|
228,156
|
|
Diluted
|
|
|
236,219
|
|
|
228,156
|
|
|
|
|
|
|
|
|
|
(1) Amounts include share-based payment expense, as follows:
|
|
|
|
|
Three Months Ended September 30,
|
|
|
2018
|
|
2017
|
Cost of revenues
|
|
$
|
3,519
|
|
|
$
|
2,992
|
|
Research and development
|
|
|
26,846
|
|
|
25,971
|
|
Marketing and sales
|
|
|
7,761
|
|
|
6,209
|
|
General and administrative
|
|
|
10,254
|
|
|
8,953
|
|
|
|
|
|
|
|
|
|
(2) Amounts include amortization of acquired intangible assets, as
follows:
|
|
|
|
|
Three Months Ended September 30,
|
|
|
2018
|
|
|
2017
|
Cost of revenues
|
|
$
|
5,351
|
|
|
$
|
5,293
|
|
Marketing and sales
|
|
|
8,988
|
|
|
9,022
|
|
|
|
|
|
|
|
|
|
* As adjusted to reflect the impact of the full retrospective
adoption of IFRS 15.
|
|
|
|
|
|
|
|
|
|
|
Atlassian Corporation Plc
Consolidated Statements of Financial Position
(U.S. $ in thousands)
(unaudited)
|
|
|
|
|
|
|
|
September 30, 2018
|
|
June 30, 2018
|
|
|
|
|
*As Adjusted
|
Assets
|
|
|
|
|
Current assets:
|
|
|
|
|
Cash and cash equivalents
|
|
$
|
1,517,780
|
|
|
$
|
1,410,339
|
|
Short-term investments
|
|
277,246
|
|
|
323,134
|
|
Trade receivables
|
|
51,690
|
|
|
46,141
|
|
Current tax receivables
|
|
1,460
|
|
|
12,622
|
|
Prepaid expenses and other current assets
|
|
28,734
|
|
|
29,795
|
|
Total current assets
|
|
1,876,910
|
|
|
1,822,031
|
|
Non-current assets:
|
|
|
|
|
Property and equipment, net
|
|
57,016
|
|
|
51,656
|
|
Deferred tax assets
|
|
59,690
|
|
|
59,220
|
|
Goodwill
|
|
311,931
|
|
|
311,943
|
|
Intangible assets, net
|
|
50,081
|
|
|
63,577
|
|
Other non-current assets
|
|
197,894
|
|
|
113,401
|
|
Total non-current assets
|
|
676,612
|
|
|
599,797
|
|
Total assets
|
|
$
|
2,553,522
|
|
|
$
|
2,421,828
|
|
Liabilities
|
|
|
|
|
Current liabilities:
|
|
|
|
|
Trade and other payables
|
|
$
|
96,099
|
|
|
$
|
113,105
|
|
Current tax liabilities
|
|
1,342
|
|
|
172
|
|
Provisions
|
|
7,376
|
|
|
7,215
|
|
Deferred revenue
|
|
344,909
|
|
|
324,394
|
|
Total current liabilities
|
|
449,726
|
|
|
444,886
|
|
Non-current liabilities:
|
|
|
|
|
Deferred tax liabilities
|
|
12,065
|
|
|
12,160
|
|
Provisions
|
|
4,348
|
|
|
4,363
|
|
Deferred revenue
|
|
19,611
|
|
|
18,477
|
|
Exchangeable senior notes, net
|
|
827,970
|
|
|
819,637
|
|
Other non-current liabilities
|
|
526,532
|
|
|
214,985
|
|
Total non-current liabilities
|
|
1,390,526
|
|
|
1,069,622
|
|
Total liabilities
|
|
1,840,252
|
|
|
1,514,508
|
|
Equity
|
|
|
|
|
Share capital
|
|
23,711
|
|
|
23,531
|
|
Share premium
|
|
455,727
|
|
|
454,766
|
|
Other capital reserves
|
|
605,504
|
|
|
557,100
|
|
Other components of equity
|
|
(1,211
|
)
|
|
(61
|
)
|
Accumulated deficit
|
|
(370,461
|
)
|
|
(128,016
|
)
|
Total equity
|
|
713,270
|
|
|
907,320
|
|
Total liabilities and equity
|
|
$
|
2,553,522
|
|
|
$
|
2,421,828
|
|
|
|
|
|
|
|
|
|
|
* As adjusted to reflect the impact of the full retrospective
adoption of IFRS 15.
|
|
|
|
|
|
|
|
|
|
|
|
|
Atlassian Corporation Plc
Consolidated Statements of Cash Flows
(U.S. $ in thousands)
(unaudited)
|
|
|
|
|
|
Three Months Ended September 30,
|
|
|
2018
|
|
2017
|
|
|
|
|
*As Adjusted
|
Operating activities
|
|
|
|
|
Loss before income tax (expense) benefit
|
|
$
|
(240,076
|
)
|
|
$
|
(19,708
|
)
|
Adjustments to reconcile loss before income tax (expense) benefit to
net cash provided by operating activities:
|
|
|
|
|
Depreciation and amortization
|
|
17,415
|
|
|
20,580
|
|
Loss (gain) on sale of investments and other assets
|
|
10
|
|
|
(16
|
)
|
Net unrealized foreign currency gain
|
|
(422
|
)
|
|
(20
|
)
|
Share-based payment expense
|
|
48,380
|
|
|
44,125
|
|
Net unrealized loss on exchange derivative and capped calls
|
|
236,353
|
|
|
-
|
|
Amortization of debt discount and issuance cost
|
|
8,333
|
|
|
-
|
|
Interest income
|
|
(7,266
|
)
|
|
(1,255
|
)
|
Interest expense
|
|
1,570
|
|
|
-
|
|
Changes in assets and liabilities:
|
|
|
|
|
Trade receivables
|
|
(5,371
|
)
|
|
(3,719
|
)
|
Prepaid expenses and other assets
|
|
1,678
|
|
|
2,695
|
|
Trade and other payables, provisions and other non-current
liabilities
|
|
(14,278
|
)
|
|
1,153
|
|
Deferred revenue
|
|
21,648
|
|
|
21,241
|
|
Interest received
|
|
6,740
|
|
|
1,430
|
|
Tax refunds received (income tax paid), net
|
|
10,215
|
|
|
(1,257
|
)
|
Net cash provided by operating activities
|
|
84,929
|
|
|
65,249
|
|
Investing activities
|
|
|
|
|
Purchases of intangible assets
|
|
(850
|
)
|
|
-
|
|
Purchases of property and equipment
|
|
(10,716
|
)
|
|
(2,564
|
)
|
Proceeds from sales of property, equipment and intangible assets
|
|
721
|
|
|
-
|
|
Purchases of investments
|
|
(64,441
|
)
|
|
(102,341
|
)
|
Proceeds from maturities of investments
|
|
92,333
|
|
|
50,768
|
|
Proceeds from sales of investments
|
|
5,521
|
|
|
49,384
|
|
Increase in restricted cash
|
|
-
|
|
|
(132
|
)
|
Net cash provided by (used in) investing activities
|
|
22,568
|
|
|
(4,885
|
)
|
Financing activities
|
|
|
|
|
Proceeds from exercise of share options
|
|
997
|
|
|
877
|
|
Payment of exchangeable senior notes issuance costs
|
|
(410
|
)
|
|
-
|
|
Net cash provided by financing activities
|
|
587
|
|
|
877
|
|
Effect of exchange rate changes on cash and cash equivalents
|
|
(643
|
)
|
|
210
|
|
Net increase in cash and cash equivalents
|
|
107,441
|
|
|
61,451
|
|
Cash and cash equivalents at beginning of period
|
|
1,410,339
|
|
|
244,420
|
|
Cash and cash equivalents at end of period
|
|
$
|
1,517,780
|
|
|
$
|
305,871
|
|
|
|
|
|
|
|
|
|
|
* As adjusted to reflect the impact of the full retrospective
adoption of IFRS 15.
|
|
|
|
|
|
|
|
|
|
|
|
Atlassian Corporation Plc
Reconciliation of IFRS to Non-IFRS Results
(U.S. $ and shares in thousands, except per share data)
(unaudited)
|
|
|
|
Three Months Ended September 30,
|
|
2018
|
|
2017
|
|
|
|
*As Adjusted
|
Gross profit
|
|
|
|
IFRS gross profit
|
$
|
222,107
|
|
|
$
|
155,390
|
|
Plus: Share-based payment expense
|
3,519
|
|
|
2,992
|
|
Plus: Amortization of acquired intangible assets
|
5,351
|
|
|
5,293
|
|
Non-IFRS gross profit
|
$
|
230,977
|
|
|
$
|
163,675
|
|
Operating income
|
|
|
|
IFRS operating loss
|
$
|
(192
|
)
|
|
$
|
(20,289
|
)
|
Plus: Share-based payment expense
|
48,380
|
|
|
44,125
|
|
Plus: Amortization of acquired intangible assets
|
14,339
|
|
|
14,315
|
|
Non-IFRS operating income
|
$
|
62,527
|
|
|
$
|
38,151
|
|
Net income
|
|
|
|
IFRS net loss
|
$
|
(242,445
|
)
|
|
$
|
(11,470
|
)
|
Plus: Share-based payment expense
|
48,380
|
|
|
44,125
|
|
Plus: Amortization of acquired intangible assets
|
14,339
|
|
|
14,315
|
|
Plus: Non-coupon impact related to exchangeable senior notes and
capped calls
|
244,686
|
|
|
-
|
|
Less: Income tax effects and adjustments
|
(15,734
|
)
|
|
(14,502
|
)
|
Non-IFRS net income
|
$
|
49,226
|
|
|
$
|
32,468
|
|
Net income per share
|
|
|
|
IFRS net loss per share - diluted
|
$
|
(1.03
|
)
|
|
$
|
(0.05
|
)
|
Plus: Share-based payment expense
|
0.20
|
|
|
0.18
|
|
Plus: Amortization of acquired intangible assets
|
0.06
|
|
|
0.06
|
|
Plus: Non-coupon impact related to exchangeable senior notes and
capped calls
|
1.03
|
|
|
-
|
|
Less: Income tax effects and adjustments
|
(0.06
|
)
|
|
(0.06
|
)
|
Non-IFRS net income per share - diluted
|
$
|
0.20
|
|
|
$
|
0.13
|
|
Weighted-average diluted shares
outstanding
|
|
|
|
Weighted-average shares used in computing diluted IFRS net loss per
share
|
236,219
|
|
|
228,156
|
|
Plus: Dilution from share options and RSUs (1)
|
10,576
|
|
|
12,617
|
|
Weighted-average shares used in computing diluted non-IFRS net
income per share
|
246,795
|
|
|
240,773
|
|
Free cash flow
|
|
|
|
IFRS net cash provided by operating activities
|
$
|
84,929
|
|
|
$
|
65,249
|
|
Less: Capital expenditures
|
(10,716
|
)
|
|
(2,564
|
)
|
Free cash flow
|
$
|
74,213
|
|
|
$
|
62,685
|
|
|
|
|
|
|
|
|
|
* As adjusted to reflect the impact of the full retrospective
adoption of IFRS 15.
|
|
(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 September 30, 2018 and 2017 because the effect would have been
anti-dilutive.
|
|
|
|
|
Atlassian Corporation Plc
Reconciliation of IFRS to Non-IFRS Financial Targets
(U.S. $)
|
|
|
|
|
|
|
|
Three Months Ending December 31, 2018
|
|
Fiscal Year Ending June 30, 2019
|
Revenue
|
|
$287 million to $289 million
|
|
$1,175 million to $1,183 million
|
|
|
|
|
|
IFRS gross margin
|
|
83%
|
|
82% to 83%
|
Plus: Share-based payment expense
|
|
1
|
|
1
|
Plus: Amortization of acquired intangible assets
|
|
2
|
|
2
|
Non-IFRS gross margin
|
|
86%
|
|
85% to 86%
|
|
|
|
|
|
IFRS operating margin
|
|
(6%)
|
|
(7%)
|
Plus: Share-based payment expense
|
|
20
|
|
21
|
Plus: Amortization of acquired intangible assets
|
|
8
|
|
6
|
Non-IFRS operating margin
|
|
22%
|
|
20%
|
|
|
|
|
|
IFRS net loss per share - diluted
|
|
($0.07)
|
|
($1.30)
|
Plus: Share-based payment expense
|
|
0.23
|
|
0.97
|
Plus: Amortization of acquired intangible assets
|
|
0.09
|
|
0.28
|
Plus: Non-coupon impact related to exchangeable senior notes and
capped calls
|
|
0.03
|
|
1.08
|
Less: Income tax effects and adjustments
|
|
(0.07)
|
|
(0.25)
|
Non-IFRS net income per share - diluted
|
|
$0.21
|
|
$0.78
|
|
|
|
|
|
Weighted-average shares used in computing diluted IFRS net loss
per share
|
|
238 million to 239 million
|
|
238 million to 240 million
|
Dilution from share options and RSUs (1)
|
|
11 million
|
|
12 million
|
Weighted-average shares used in computing diluted non-IFRS net
income per share
|
|
249 million to 250 million
|
|
250 million to 252 million
|
|
|
|
|
|
IFRS net cash provided by operating activities
|
|
|
|
$400 million to $410 million
|
Less: Capital expenditures
|
|
|
|
(40 million)
|
Free cash flow
|
|
|
|
$360 million to $370 million
|
(1) The effects of these dilutive securities are not included in our
IFRS calculation of diluted net loss per share for the three months
ending December 31, 2018 and fiscal year ending June 30, 2019 because
the effect would be anti-dilutive.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181018005901/en/
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