Atlassian Announces First Quarter Fiscal Year 2019 Results
Quarterly revenue of $267.3 million, up 37% year-over-year
Quarterly IFRS operating margin of 0% and non-IFRS operating margin of 23%
Quarterly free cash flow of $74.2 million and free cash flow margin of 28%
SAN FRANCISCO--(BUSINESS WIRE)-- 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.
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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.
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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.
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Atlassian Corporation Plc Consolidated Statements of Operations (U.S. $ and shares in thousands, except per share data) (unaudited) |
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Three Months Ended |
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| 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 | � | |||
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(1) Amounts include share-based payment expense, as follows: |
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Three Months Ended |
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| 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 | ||||||
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(2) Amounts include amortization of acquired intangible assets, as follows: |
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Three Months Ended |
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| 2018 | 2017 | |||||||
| Cost of revenues | $ | 5,351 |
$ |
5,293 |
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| Marketing and sales | 8,988 | 9,022 | ||||||
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* As adjusted to reflect the impact of the full retrospective adoption of IFRS 15. |
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Atlassian Corporation Plc Consolidated Statements of Financial Position (U.S. $ in thousands) (unaudited) |
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| 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 | � | ||
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* As adjusted to reflect the impact of the full retrospective adoption of IFRS 15. |
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Atlassian Corporation Plc Consolidated Statements of Cash Flows (U.S. $ in thousands) (unaudited) |
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Three Months Ended |
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| 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 | � | ||
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* As adjusted to reflect the impact of the full retrospective adoption of IFRS 15. |
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Atlassian Corporation Plc Reconciliation of IFRS to Non-IFRS Results (U.S. $ and shares in thousands, except per share data) (unaudited) |
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Three Months Ended |
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| 2018 | � | 2017 | |||||
| *As Adjusted | |||||||
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Gross profit |
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| 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 | � | |
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Operating income |
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| 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 | � | |
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Net income |
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| 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 | � | |
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Net income per share |
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| 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 | � | |
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Weighted-average diluted shares outstanding |
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| 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 | � | |||
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Free cash flow |
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| 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 | � | |
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* As adjusted to reflect the impact of the full retrospective adoption of IFRS 15. |
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(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.
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Atlassian Corporation Plc Reconciliation of IFRS to Non-IFRS Financial Targets (U.S. $) |
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Three Months Ending December 31, 2018 |
Fiscal Year Ending June 30, 2019 |
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| Revenue | $287 million to $289 million | $1,175 million to $1,183 million | ||
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| 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% | ||
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| 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% | ||
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| 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 | ||
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| 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.
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Atlassian Corporation Plc
Investor Relations Contact
Ian
Lee
[email protected]
or
Media
Contact
Gabe Madway
[email protected]
Source: Atlassian Corporation Plc