Document and Entity Information
Document and Entity Information | 12 Months Ended |
Jun. 30, 2018shares | |
Document Information [Line Items] | |
Entity Registrant Name | Atlassian Corp Plc |
Entity Central Index Key | 1,650,372 |
Entity Filer Category | Large Accelerated Filer |
Current Fiscal Year End Date | --06-30 |
Document Fiscal Year Focus | 2,018 |
Document Type | 20-F |
Document Fiscal Period | FY |
Document Period End Date | Jun. 30, 2018 |
Amendment Flag | false |
Entity Well-known Seasoned Issuer | Yes |
Entity Voluntary Filers | No |
Entity Current Reporting Status | Yes |
Class A ordinary shares | |
Document Information [Line Items] | |
Entity Common Stock, Shares Outstanding (shares) | 106,199,671 |
Class B ordinary shares | |
Document Information [Line Items] | |
Entity Common Stock, Shares Outstanding (shares) | 129,942,506 |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | |||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | ||
Revenues: | ||||
Subscription | $ 403,214 | $ 242,128 | $ 146,659 | |
Maintenance | 325,898 | 265,521 | 218,848 | |
Perpetual license | 85,481 | 74,565 | 65,487 | |
Other | 59,357 | 37,722 | 26,064 | |
Total revenues | 873,950 | 619,936 | 457,058 | |
Cost of revenues | [1],[2] | 172,690 | 119,161 | 75,783 |
Gross profit | 701,260 | 500,775 | 381,275 | |
Research and development | [2] | 415,776 | 310,168 | 208,306 |
Marketing and sales | [1],[2] | 187,990 | 134,908 | 93,391 |
General and administrative | [2] | 151,242 | 118,785 | 85,458 |
Total operating expenses | 755,008 | 563,861 | 387,155 | |
Operating loss | (53,748) | (63,086) | (5,880) | |
Other non-operating income (expense), net | (15,157) | (1,342) | (1,072) | |
Finance income | 9,877 | 4,851 | 2,116 | |
Finance costs | (6,806) | (75) | (71) | |
Loss before income tax benefit (expense) | (65,834) | (59,652) | (4,907) | |
Income tax benefit (expense) | (53,507) | 17,148 | 9,280 | |
Net income (loss) attributable to: Owners of Atlassian Corporation Plc | $ (119,341) | $ (42,504) | $ 4,373 | |
Net income (loss) per share attributable to ordinary shareholders: | ||||
Basic (USD per share) | $ (0.52) | $ (0.19) | $ 0.02 | |
Diluted (USD per share) | $ (0.52) | $ (0.19) | $ 0.02 | |
Weighted-average shares outstanding used to compute net income (loss) per share attributable to ordinary shareholders: | ||||
Basic (shares) | 231,184 | 222,224 | 182,773 | |
Diluted (shares) | 231,184 | 222,224 | 193,481 | |
Share-based payment expense | $ 162,873 | $ 137,448 | $ 75,480 | |
Cost of revenues | ||||
Weighted-average shares outstanding used to compute net income (loss) per share attributable to ordinary shareholders: | ||||
Share-based payment expense | 11,955 | 6,856 | 5,371 | |
Amortization charge | 21,188 | 14,587 | 7,405 | |
Research and development | ||||
Weighted-average shares outstanding used to compute net income (loss) per share attributable to ordinary shareholders: | ||||
Share-based payment expense | 98,609 | 79,384 | 35,735 | |
Marketing and sales | ||||
Weighted-average shares outstanding used to compute net income (loss) per share attributable to ordinary shareholders: | ||||
Share-based payment expense | 23,605 | 17,395 | 11,945 | |
Amortization charge | 36,090 | 15,269 | 86 | |
General and administrative | ||||
Weighted-average shares outstanding used to compute net income (loss) per share attributable to ordinary shareholders: | ||||
Share-based payment expense | $ 28,704 | $ 33,813 | $ 22,429 | |
[1] | Amounts include amortization of acquired intangible assets, as follows:Cost of revenues $21,188 $14,587 $7,405Marketing and sales 36,090 15,269 86 | |||
[2] | Amounts include share-based payment expense, as follows:Cost of revenues $11,955 $6,856 $5,371Research and development 98,609 79,384 35,735Marketing and sales 23,605 17,395 11,945General and administrative 28,704 33,813 22,429 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | |
Statement of comprehensive income [abstract] | |||
Net income (loss) | $ (119,341) | $ (42,504) | $ 4,373 |
Other comprehensive income (loss): | |||
Foreign currency translation adjustment | 118 | 140 | (4) |
Net change in unrealized gain (loss) on investments classified at fair value through other comprehensive income | (586) | (945) | 687 |
Net gain (loss) on derivative instruments | (8,341) | 3,164 | 0 |
Income tax effect | 2,502 | (812) | (137) |
Other comprehensive income (loss) net of tax that will be reclassified to profit or loss in subsequent periods | (6,307) | 1,547 | 546 |
Total comprehensive income (loss) attributable to: | |||
Owners of Atlassian Corporation Plc | $ (125,648) | $ (40,957) | $ 4,919 |
CONSOLIDATED STATEMENTS OF FINA
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - USD ($) $ in Thousands | Jun. 30, 2018 | Jun. 30, 2017 |
Current assets: | ||
Cash and cash equivalents | $ 1,410,339 | $ 244,420 |
Short-term investments | 323,134 | 305,499 |
Trade receivables | 46,141 | 26,807 |
Current tax receivables | 12,622 | 12,445 |
Prepaid expenses and other current assets | 28,219 | 23,317 |
Total current assets | 1,820,455 | 612,488 |
Non-current assets: | ||
Property and equipment, net | 51,656 | 41,173 |
Deferred tax assets | 64,662 | 188,239 |
Goodwill | 311,943 | 311,900 |
Intangible assets, net | 63,577 | 120,789 |
Other non-current assets | 112,221 | 9,269 |
Total non-current assets | 604,059 | 671,370 |
Total assets | 2,424,514 | 1,283,858 |
Current liabilities: | ||
Trade and other payables | 113,105 | 73,192 |
Current tax liabilities | 172 | 2,207 |
Provisions | 7,215 | 6,162 |
Deferred revenue | 340,834 | 245,306 |
Total current liabilities | 461,326 | 326,867 |
Non-current liabilities: | ||
Deferred tax liabilities | 12,051 | 43,950 |
Provisions | 4,363 | 3,333 |
Deferred revenue | 19,386 | 10,691 |
Exchangeable senior notes, net | 819,637 | 0 |
Other non-current liabilities | 214,985 | 4,969 |
Total non-current liabilities | 1,070,422 | 62,943 |
Total liabilities | 1,531,748 | 389,810 |
Equity | ||
Share capital | 23,531 | 22,726 |
Share premium | 454,766 | 450,959 |
Other capital reserves | 557,100 | 437,346 |
Other components of equity | (61) | 6,246 |
Accumulated deficit | (142,570) | (23,229) |
Total equity | 892,766 | 894,048 |
Total liabilities and equity | $ 2,424,514 | $ 1,283,858 |
CONSOLIDATED STATEMENTS OF CHAN
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Thousands | Total | Share capital | Share premium | Other capital reserves | Cash flow hedge reserve | Foreign currency translation reserve | Investments at fair value through other comprehensive income reserve | Retained earnings (accumulated deficit) |
Beginning Balance at Jun. 30, 2015 | $ 190,054 | $ 18,461 | $ 5,744 | $ 146,794 | $ 0 | $ 4,153 | $ 0 | $ 14,902 |
Net income (loss) | 4,373 | 4,373 | ||||||
Other comprehensive income (loss), net of tax | 546 | (4) | 550 | |||||
Total comprehensive income (loss) | 4,919 | (4) | 550 | 4,373 | ||||
Changes in equity [abstract] | ||||||||
Issuance of ordinary shares upon initial public offering, net of offering costs | 431,473 | 2,200 | 429,273 | |||||
Issuance of ordinary shares upon exercise of share options | 6,732 | 633 | 6,099 | |||||
Vesting of early exercised shares | 653 | 35 | 618 | |||||
Issuance of ordinary shares for settlement of restricted share units (RSUs) | 0 | 291 | (291) | |||||
Shares withheld related to net share settlement of RSUs | (5,395) | (5,395) | ||||||
Share-based payment | 75,480 | 75,480 | ||||||
Tax benefit from share plans | 27,747 | 27,747 | ||||||
Increase (decrease) in equity | 536,690 | 3,159 | 435,990 | 97,541 | ||||
Ending Balance at Jun. 30, 2016 | 731,663 | 21,620 | 441,734 | 244,335 | 0 | 4,149 | 550 | 19,275 |
Net income (loss) | (42,504) | (42,504) | ||||||
Other comprehensive income (loss), net of tax | 1,547 | 2,215 | 140 | (808) | ||||
Total comprehensive income (loss) | (40,957) | 2,215 | 140 | (808) | (42,504) | |||
Changes in equity [abstract] | ||||||||
Issuance of ordinary shares upon exercise of share options | 9,498 | 640 | 8,858 | |||||
Vesting of early exercised shares | 382 | 15 | 367 | |||||
Issuance of ordinary shares for settlement of restricted share units (RSUs) | 0 | 451 | (451) | |||||
Share-based payment | 137,458 | 137,458 | ||||||
Replacement equity awards related to business combination | 20,193 | 20,193 | ||||||
Tax benefit from share plans | 35,811 | 35,811 | ||||||
Increase (decrease) in equity | 203,342 | 1,106 | 9,225 | 193,011 | ||||
Ending Balance at Jun. 30, 2017 | 894,048 | 22,726 | 450,959 | 437,346 | 2,215 | 4,289 | (258) | (23,229) |
Net income (loss) | (119,341) | (119,341) | ||||||
Other comprehensive income (loss), net of tax | (6,307) | (5,839) | 118 | (586) | ||||
Total comprehensive income (loss) | (125,648) | (5,839) | 118 | (586) | (119,341) | |||
Changes in equity [abstract] | ||||||||
Issuance of ordinary shares upon exercise of share options | 4,004 | 243 | 3,761 | |||||
Vesting of early exercised shares | 83 | 37 | 46 | |||||
Issuance of ordinary shares for settlement of restricted share units (RSUs) | 0 | 525 | (525) | |||||
Share-based payment | 162,873 | 162,873 | ||||||
Tax benefit from share plans | 140 | 140 | ||||||
Reduction in deferred tax assets | (42,734) | (42,734) | ||||||
Increase (decrease) in equity | 124,366 | 805 | 3,807 | 119,754 | ||||
Ending Balance at Jun. 30, 2018 | $ 892,766 | $ 23,531 | $ 454,766 | $ 557,100 | $ (3,624) | $ 4,407 | $ (844) | $ (142,570) |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | |
Operating activities | |||
Loss before income tax benefit (expense) | $ (65,834) | $ (59,652) | $ (4,907) |
Adjustments to reconcile loss before income tax benefit (expense) to net cash provided by operating activities: | |||
Depreciation and amortization | 79,435 | 61,546 | 21,926 |
Net loss (gain) on sale of investments and other assets | (1,163) | (397) | 165 |
Net unrealized foreign currency loss (gain) | (188) | 93 | 152 |
Share-based payment expense | 162,873 | 137,448 | 75,480 |
Net unrealized loss on exchange derivative and capped calls | 12,414 | 0 | 0 |
Amortization of debt discount and issuance costs | 7,478 | 0 | 0 |
Interest income | (9,877) | (4,851) | (2,116) |
Interest expense | 1,113 | 0 | 0 |
Changes in assets and liabilities: | |||
Trade receivables | (19,635) | (10,208) | (3,487) |
Prepaid expenses and other assets | (7,293) | (5,647) | (4,203) |
Trade and other payables, provisions and other non-current liabilities | 43,477 | 10,947 | 11,622 |
Deferred revenue | 104,223 | 72,604 | 44,503 |
Interest received | 8,679 | 6,540 | 2,839 |
Income tax paid, net of refunds | (4,246) | (9,042) | (12,432) |
Net cash provided by operating activities | 311,456 | 199,381 | 129,542 |
Investing activities | |||
Business combinations, net of cash acquired | 0 | (381,090) | 0 |
Purchases of property and equipment | (30,209) | (15,129) | (34,213) |
Purchases of intangible assets | 0 | (925) | 0 |
Proceeds from sale of other assets | 2,775 | 342 | 0 |
Purchases of investments | (347,822) | (423,540) | (569,067) |
Proceeds from maturities of investments | 206,119 | 111,403 | 65,294 |
Proceeds from sales of investments | 123,862 | 488,672 | 49,501 |
Increase in restricted cash | (3,131) | (3,371) | 0 |
Payment of deferred consideration | (3,290) | (935) | (1,025) |
Net cash used in investing activities | (51,696) | (224,573) | (489,510) |
Financing activities | |||
Proceeds from issuance of ordinary shares upon initial public offering, net of discount and issuance costs | 0 | 0 | 431,447 |
Proceeds from exercise of share options | 3,995 | 9,438 | 6,732 |
Employee payroll taxes paid related to net share settlement of equity awards | 0 | 0 | (5,395) |
Proceeds from issuance of exchangeable senior notes, net of discount and issuance costs | 990,494 | 0 | 0 |
Purchase of capped calls | (87,700) | 0 | 0 |
Net cash provided by financing activities | 906,789 | 9,438 | 432,784 |
Effect of exchange rate changes on cash and cash equivalents | (630) | 465 | (201) |
Net increase (decrease) in cash and cash equivalents | 1,165,919 | (15,289) | 72,615 |
Cash and cash equivalents at beginning of year | 244,420 | 259,709 | 187,094 |
Cash and cash equivalents at end of year | $ 1,410,339 | $ 244,420 | $ 259,709 |
Corporate Information
Corporate Information | 12 Months Ended |
Jun. 30, 2018 | |
Corporate Information1 [Abstract] | |
Corporate Information | Corporate Information Atlassian Corporation Plc (the “Company”) is a public company limited by shares, incorporated and registered in the United Kingdom. The registered office of the Company and its subsidiaries (collectively, “Atlassian,” the “Group,” “our,” or “we”) is located at Exchange House, Primrose Street, London EC2A 2EG, c/o Herbert Smith Freehills LLP. We design, develop, license and maintain software and provision software hosting services to help teams organize, discuss and complete their work. Our products include Jira for team planning and project management, Confluence for team content creation and sharing, Trello for capturing and adding structure to fluid, fast-forming work for teams, Bitbucket for team code sharing and management and Jira Service Desk for team service and support applications. The accompanying consolidated financial statements of the Company and its subsidiaries for the year ended June 30, 2018 were authorized for issue in accordance with a resolution of the Board of Directors on August 27, 2018. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Jun. 30, 2018 | |
Significant Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies The significant accounting policies adopted in the preparation of these consolidated financial statements are set out below. These accounting policies have been consistently applied to all years presented, unless otherwise stated. The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgment in applying the Group's accounting policies. The areas that require a higher degree of judgment or complexity, or areas where assumptions and estimates are significant to the financial statements, are disclosed in Note 3, “Critical Accounting Estimates and Judgments.” Basis of preparation The consolidated financial statements of the Group have been prepared in accordance with International Financial Reporting Standards (“IFRS”), which includes all standards issued by the International Accounting Standards Board (“IASB”) and related interpretations issued by the IFRS Interpretations Committee. The consolidated financial statements have been prepared on a historical cost basis, except for financial assets and liabilities that have been measured at amortized cost, fair value through other comprehensive income or profit or loss. All amounts included in the consolidated financial statements are reported in thousands of U.S. dollars (U.S. $ in thousands) except where otherwise stated. Due to rounding, numbers presented throughout this document may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures. The Group operates as a single cash-generating unit (“CGU”) and as a single operating segment, which is also its reporting segment. An operating segment is defined as a component of an entity for which discrete financial information is available and whose operating results are regularly reviewed by the chief operating decision maker. The Group's chief operating decision makers are the Group's Co-Chief Executive Officers, who review operating results to make decisions about allocating resources and assessing performance based on consolidated financial information. Accordingly, the Group has determined it operates in one operating segment. Initial public offering In December 2015, we completed our initial public offering (“IPO”) in which we issued and sold 22 million Class A ordinary shares at a public offering price of $21.00 per share. We received net proceeds of $431.4 million after deducting underwriting discounts and commissions and other offering expenses. Upon the closing of our IPO, all then-outstanding Series A preference shares automatically converted into Class A ordinary shares, all then-outstanding restricted shares automatically converted into Class A ordinary shares and all then-outstanding Series B preference shares automatically converted into Class B ordinary shares. Principles of consolidation The consolidated financial statements incorporate the assets and liabilities and the results of operations of the Group. Control is achieved when the Group is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. The financial statements of the subsidiaries are prepared for the same reporting period as the Company, using consistent accounting policies. Intercompany transactions, balances and unrealized gains on transactions between Group companies are eliminated. Foreign currency translation The Group's consolidated financial statements are presented using the U.S. dollar, which is the Company's functional currency. The Group determines the functional currency for each entity in accordance with International Accounting Standard (“IAS”) 21, The Effects of Changes in Foreign Exchange Rates, based on the currency of the primary economic environment in which each subsidiary operates, and items included in the financial statements of such entity are measured using that functional currency. Transactions and balances Transactions in foreign currencies are initially recorded by the Group entities at their respective functional currency spot rates at the date the transaction first qualifies for recognition. Monetary assets and liabilities denominated in foreign currencies are translated at the functional currency spot rate of exchange at each reporting date. All differences arising on settlement or translation of monetary items are recorded in other non-operating income (expense), net on the consolidated statements of operations, with the exception of monetary items that are designated as part of the Group's net investment in foreign operations. These differences on translation of the foreign operations account are recognized in other comprehensive income until the net investment is disposed. Certain non-monetary items, such as property and equipment, which are measured at historical cost in a foreign currency, are translated using the exchange rates as of the dates of the initial transactions. Certain non-monetary items initially measured at fair value in a foreign currency, such as intangible assets, are translated using the exchange rates as of the date when the fair value is determined. The gain or loss arising on translation of non-monetary items measured at fair value is treated in line with the recognition of the gain or loss on the change in fair value of the item (i.e., translation differences on items whose fair value gain or loss is recognized in other comprehensive income (or profit or loss are also recognized in other comprehensive income or profit or loss, respectively). Group companies Upon consolidation, assets and liabilities of foreign operations are translated into U.S. dollars at the rate of exchange prevailing at the reporting date and their income statements are translated at average exchange rates. The exchange differences arising on translation for consolidation are recognized in other comprehensive income. Any goodwill arising on the acquisition of a foreign operation and any fair value adjustments to the carrying amounts of assets and liabilities arising on the acquisition are treated as assets and liabilities of the foreign operation and translated at the spot rate of exchange at each reporting date. Revenue recognition The Group primarily derives revenues from subscription, maintenance, perpetual license, and training and other services. Revenue is recognized in line with the requirements as stated in IAS 18, Revenue , when evidence of an arrangement exists, delivery has occurred, the risks and rewards of ownership have been transferred to the customer, the amount of revenue and associated costs can be measured reliably, and collection of the related receivable is probable. In the absence of industry-specific software revenue recognition guidance under IFRS, the Group refers to GAAP when establishing policies related to revenue recognition. The Group's revenue recognition policy considers the guidance provided by the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Subtopic 985-605, Software Revenue Recognition , and FASB ASC Subtopic 605-25, Multiple-Element Arrangements , where applicable, as authorized by IAS 8, Accounting Policies, Changes in Accounting Estimates and Errors . If, at the outset of an arrangement, revenue cannot be measured reliably, revenue recognition is deferred until the arrangement fee becomes due and payable by the customer. Additionally, if, at the outset of an arrangement, it is determined that collectability is not probable, revenue recognition is deferred until the earlier of when collectability becomes probable or payment is received. The Group enters into arrangements directly with end users as well as indirectly through value-added resellers (e.g., “channel partners”). Revenue recognition for indirect customers is the same as for direct customers as the terms of sale are substantially the same. Subscription revenue Subscription revenue represents fees earned from subscription-based arrangements for: (1) cloud-based services for providing customers the right to use software in a cloud-based-infrastructure provided by the Group, where the customer does not have the right to terminate the hosting contract and take possession of the software without significant penalty; and (2) software licensed for a specified period, in which fees for support and maintenance are bundled with the license fee over the entire term of the license period. Subscription-based arrangements generally have a contractual term of one to twelve months. Subscription revenue is recognized ratably as the services are performed, commencing with the date the service is made available to customers and all other revenue recognition criteria have been satisfied. Maintenance revenue Maintenance revenue represents fees earned from providing customers unspecified future updates, upgrades and enhancements and technical product support for perpetual license products on an if and when available basis. The first year of maintenance is purchased concurrently with the purchase of perpetual licenses, and subsequent renewals extend for an additional year in most cases. Maintenance services are priced as a percentage of the total product sale, and a substantial majority of customers elect to renew software support contracts annually at standard list maintenance renewal pricing. Maintenance revenue is recognized ratably over the term of the support period. Perpetual license revenue Perpetual license revenue represents fees earned from the license of software to customers for use on the customer's premises. Software is licensed on a perpetual basis, subject to a standard licensing agreement. The Group recognizes revenue on the license portion of perpetual license arrangements on the date of product delivery in substantially all situations. Other revenue Other revenues include fees received for sales of third-party apps in the Group's online marketplace, Atlassian Marketplace, and for training services. Revenue from the sale of third-party vendor products via Atlassian Marketplace is recognized net of the vendor liability portion as the Group functions as an agent in the relationship. The Group's revenue portion is recognized on the date of product delivery given that the Group has no future obligations. Revenue from training is recognized as delivered or as the rights to receive training expire. Multiple-element arrangements Many of the Group's arrangements include purchases of both software related products and services. For these software related multiple-element arrangements, the Group applies the residual method to determine the amount of software license revenue to be recognized. The Group first allocates fair value to elements of a software related multiple-element arrangement based on its fair value as determined by vendor specific objective evidence (“VSOE”), with any remaining amount allocated to the software license. The Group determines VSOE based on its historical pricing for a specific product or service when sold separately and when a substantial majority of the selling prices for these services fall within a narrow range. Cloud-based arrangements may be purchased alongside other services that are intended to be used with the cloud offering. Such arrangements are considered to be non-software multiple-element arrangements. The Group accordingly allocates revenue to each element considered to be a separate unit of accounting using the relative selling prices of each unit. The relative selling price for each element is based upon the following selling price hierarchy: VSOE if available, third-party evidence (“TPE”) if VSOE is not available, or estimated selling price if neither VSOE nor TPE are available. Historically, the Group has established VSOE for all non-software elements using the same methodology applied to software-related elements, as a substantial majority of the selling prices for these elements fall within a narrow range when sold separately. If the Group enters into an arrangement with both software and non-software deliverables, the Group will first allocate the total arrangement consideration based on the relative selling prices of the software group of elements as a whole and the non-software elements. The Group then further allocates consideration within the software group in accordance with the residual method described above. The revenue amount allocated to each element is recognized when the revenue recognition criteria described above have been met for the respective element. Taxation Current tax Current income tax assets and/or liabilities comprise amounts expected to be recovered or paid to Her Majesty's Revenue & Customs, the Australian Taxation Office, the United States Internal Revenue Service and other fiscal authorities relating to the current or prior reporting periods, which are unpaid at each reporting date. Current tax is payable on taxable income that differs from the consolidated statements of operations in the financial statements due to permanent and temporary timing differences. The calculation of current tax is based on tax rates and tax laws that have been enacted or substantively enacted by the end of the reporting period. Deferred tax The Group uses the liability method of accounting for income taxes. Deferred income tax assets and liabilities represent temporary differences between the carrying amounts of assets and liabilities in the consolidated financial statements and their corresponding tax basis used in the computation of taxable income. Deferred tax however is not recognized on the initial recognition of goodwill, or the initial recognition of an asset or liability (other than in a business combination) in a transaction that affects neither tax nor accounting income. Deferred tax liabilities are recognized for taxable temporary differences associated with investments in subsidiaries and associates, except where the Group is able to control the reversal of the temporary differences and it is probable that the temporary difference will not reverse in the foreseeable future. Deferred tax liabilities are generally provided for in full. Deferred tax assets are recognized to the extent that they are expected to reverse in the foreseeable future and it is probable that they will be able to be utilized against future taxable income, based on the Group's forecast of future operating results. Deferred tax assets are adjusted for significant non-taxable income, expenses and specific limits on the use of any unused tax loss or credit. Unrecognized deferred income tax assets are reassessed at each reporting date and are recognized to the extent that it has become probable that future taxable income will allow the deferred tax asset to be recovered. Deferred tax assets and liabilities are calculated, without discounting, at tax rates and in accordance with laws that are expected to apply to their respective period of realization, provided the tax rates and laws are enacted or substantively enacted by the end of the reporting period. The carrying amount of deferred tax assets are reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable income will be available to allow all or part of the deferred tax asset to be utilized. Deferred tax liabilities and assets are offset when there is a legally enforceable right to offset current tax assets against current tax liabilities and when they relate to income taxes levied by the same taxation authority and the Group intends to settle its current tax assets and liabilities on a net basis. Changes in deferred tax assets or liabilities are recognized as a component of tax expense (benefit) in the consolidated statements of operations, except where they relate to items that are recognized in other comprehensive income or directly in equity, in which case the related deferred tax is also recognized in other comprehensive income or equity, respectively. Where deferred tax arises from the initial accounting for a business combination, the tax effect is included in the accounting for the business combination. Share-based payments Employees of the Group receive, in part, remuneration for services rendered in the form of share-based payments, which are considered equity-settled transactions. The cost of equity-settled transactions is recognized, together with a corresponding increase in equity, over the period in which the performance or service conditions are fulfilled. The cumulative expense recognized for equity-settled transactions at each reporting date until the vesting date reflects the extent to which the vesting period has expired and the Company's best estimate of the number of equity instruments that will ultimately vest. The share-based payment expense for each reporting period reflects the movement in cumulative expense recognized at the beginning and end of that period. The Group follows the accelerated method of expense recognition for share-based awards, as the awards vest in tranches over the vesting period. The estimation of share awards that will ultimately vest requires judgment, and to the extent actual results or updated estimates differ from current estimates, such amounts will be recorded as a cumulative adjustment in the period the estimates are revised. Actual results, and future changes in estimates, may differ substantially from current estimates. If an equity-settled award is cancelled, it is treated as if it had forfeited on the date of cancellation, and any expense previously recognized for unvested shares is immediately reversed. Leases The determination of whether an arrangement is or contains a lease is based on the substance of the arrangement at the inception date, whether fulfillment of the arrangement is dependent on the use of a specific asset or assets or the arrangement conveys a right to use the asset, even if that right is not explicitly specified in an arrangement. Leases in which a significant portion of the risks and rewards of ownership are not transferred to the Group as lessee are classified as operating leases. Expenses incurred in operating leases (net of any incentives received from the lessor) are recognized on a straight-line basis over the term of the lease. Operating lease incentives are recognized as a liability when received and subsequently reduced by allocating lease payments between rental expense and a reduction of the liability. Business combinations Business combinations are accounted for using the acquisition method at the acquisition date, which is the date on which control is transferred. The cost of an acquisition is measured as the aggregate of the consideration transferred, measured at the acquisition date fair value and the amount of any non-controlling interest in the acquiree. Settlements of pre-existing relationships are not included in the consideration transferred and are recognized in the consolidated statements of operations. Identifiable assets acquired and liabilities assumed in a business combination are measured at their fair values at the acquisition date. Upon acquisition, the Group recognizes any non-controlling interests in the acquiree either at fair value or at the proportionate share of the acquiree's identifiable net assets. Acquisition-related costs are expensed as incurred and included in general and administrative expenses. Where settlement of any part of cash consideration is deferred, the amounts payable in the future are discounted to their present value at the date of exchange. Goodwill Goodwill is initially measured at cost, which is the excess of the aggregate of the consideration transferred and the amount recognized for the non-controlling interest over the net identifiable assets acquired and liabilities assumed. If this consideration is lower than the fair value of the net of these assets acquired and liabilities assumed, the difference is recognized in the consolidated statements of operations. After initial recognition, goodwill is measured at cost, less any accumulated impairment losses. For the purpose of impairment testing, goodwill acquired in a business combination is, from the acquisition date, allocated to the Group's CGU that is expected to benefit from the combination, regardless of whether other assets or liabilities of the acquiree are assigned to those units. Cash and cash equivalents Cash and cash equivalents in the consolidated statements of financial position comprise cash at banks, short-term deposits and low-risk, highly liquid investments with original maturities of three months or less when initially recorded. Cash equivalents also include amounts due from third-party credit card processors as they are both short-term and highly liquid in nature and are typically converted to cash within three days of the sales transaction. Current versus non-current classification The Group presents assets and liabilities in the consolidated statements of financial position based on current or non-current classification. An asset is current when it is: expected to be realized within twelve months after the reporting period; or cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period. All other assets are classified as non-current. A liability is current when it is due to be settled within twelve months after the reporting period. The Group classifies all other liabilities as non-current. Trade receivables Trade receivables are initially recognized at fair value, less a provision for impairment. Trade receivables are unsecured and substantially all are due for settlement within 30 days of recognition. They are presented as current assets unless collection is not expected for more than 12 months after the reporting date. Collectability of trade receivables is reviewed on an ongoing basis. Debts that are known to be uncollectible are written off by reducing the carrying amount directly. The amount of the impairment loss is recognized within general and administrative expense. When a trade receivable for which an impairment allowance had been recognized becomes uncollectible in a subsequent period, it is written off against an allowance account. Subsequent recoveries of amounts previously written off are credited against other expenses in the consolidated statements of operations. Financial assets Classification The Group classifies its financial assets in the following categories: amortized cost, fair value through other comprehensive income and fair value through profit or loss. The Group determines the classification of its financial assets at initial recognition with the classification dependent on the business model for managing the financial assets and the contractual cash flow characteristics of the assets. Management evaluates the business model for managing its financial assets at the end of each reporting period. Recognition and derecognition Purchases and sales of financial assets are recognized on the date on which the Group commits to purchase or sell the asset. Financial assets are derecognized when the rights to receive cash flows from the financial assets have expired or have been transferred and the Group has transferred substantially all the risks and rewards of ownership. Fair value changes that have been recognized in other comprehensive income are recycled to profit or loss upon sale of the financial asset. Measurement At initial recognition, for financial assets not at fair value through profit or loss, the Group measures the assets at its purchase price plus transaction costs that are directly attributable to the acquisition of the financial asset. Transaction costs of financial assets carried at fair value through profit or loss are expensed in the consolidated statements of operations. Subsequently, financial assets are carried at fair value or amortized cost less impairment. Financial assets classified at amortized cost are measured using the effective interest method. Impairment The Group measures loss allowances on its financial assets at an amount equal to lifetime expected credit losses (“ECLs”), except for securities that are determined to have low credit risk at the reporting date and other securities and bank balances for which credit risk has not increased significantly since initial recognition, which are measured as 12-month ECLs. Lifetime ECLs are the ECLs that result from all possible default events over the expected life of a financial instrument. 12-month ECLs are the portion of ECLs that result from default events that are possible within the 12 months following the reporting date. Loss allowances for financial assets measured at amortized cost are deducted from the gross carrying amount of the assets. For debt securities measured at fair value through other comprehensive income, the loss allowance is charged to profit or loss and is recognized in other comprehensive income. ECLS are a probability-weighted estimate of the difference in the present value of contractual cash flows and the present value of cash flows that the Group expects to receive. The changes in the loss allowance balance are recognized as an impairment loss in the consolidated statements of operations. If, in a subsequent period, the amount of the impairment loss decreases and the decrease can be related objectively to an event occurring after the impairment was recognized, the reversal of the previously recognized impairment loss is recorded in the consolidated statements of operations. Fair value estimation The fair value of financial assets and financial liabilities are estimated for recognition and measurement or for disclosure purposes. The fair value of financial instruments traded in active markets is based on quoted market prices as of the consolidated statements of financial position date. The quoted market price used for financial assets held by the Group is the current bid price. The fair value of financial instruments that are not traded in an active market is determined using valuation techniques. The Group uses a variety of methods and makes assumptions that are based on market conditions existing as of the consolidated statements of financial position date. Other techniques, such as estimated discounted cash flows, are used to determine fair value for the remaining financial instruments. The carrying value, less any impairment provision of trade receivables and payables, is assumed to approximate the fair value due to their short-term nature. The fair value of financial liabilities for disclosure purposes is estimated by discounting the future contractual cash flows at the current market interest rate that is available to the Group for similar financial instruments. Property and equipment Property and equipment are stated at cost, net of accumulated depreciation. Historical cost includes expenditures directly attributable to the acquisition of the assets. Subsequent costs are included in the asset's carrying amount or recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Group and the cost of the item can be measured reliably. The carrying amount of any component accounted for as a separate asset is derecognized when replaced. All other repairs and maintenance are expensed as incurred. Depreciation is calculated using the straight-line method to allocate the cost over the estimated useful lives or, in the case of leasehold improvements and certain leased equipment, the remaining lease term if shorter. The estimated useful lives for each asset class are as follows: Equipment 3 - 5 years Computer hardware and computer-related software 3 - 5 years Furniture and fittings 5 - 10 years Leasehold improvements Shorter of the remaining lease term or 7 years Research and development Research and development includes the employee and hardware costs incurred for the development of new products, enhancements and updates of existing products and quality assurance activities. These costs incurred internally for the development of computer software are capitalized only when technological feasibility has been established for the solution. To establish technological feasibility, the Group must demonstrate it intends to complete development and the solution will be available for sale or internal use, it is probable the solution will generate future economic benefits, and the Group has the ability to reliably measure the expenditure attributable to the solution during its development. The Company has not capitalized any research and development costs. Intangible assets Intangible assets acquired separately or in a business combination are initially measured at cost. The cost of an intangible asset acquired in a business combination is its fair value as of the date of acquisition. Following initial recognition, intangible assets are carried at cost, net of accumulated amortization. The useful lives of intangible assets are assessed to be either finite or indefinite. Intangible assets with finite lives are amortized over their useful life using the straight-line method. The amortization period and the amortization method for an intangible asset with a finite useful life are reviewed at least annually at each fiscal year end. Changes in the expected useful life or the expected pattern of consumption of future economic benefits embodied in the asset are accounted for prospectively by changing the amortization period or method, as appropriate, which is a change in an accounting estimate. The amortization expense on intangible assets with finite lives is recognized in the consolidated statements of operations in the expense category, consistent with the function of the intangible asset. The estimated useful lives for each intangible asset class are as follows: Patents, trademarks and other rights 2 - 7 years Customer relationships 2 - 4 years Acquired developed technology 3 - 10 years Impairment of goodwill, intangible assets and long-lived assets Goodwill is tested for impairment annually during the fourth quarter of the Group's fiscal year and when circumstances indicate that the carrying value may be impaired. Impairment is determined for goodwill by assessing the recoverable amount of the CGU. When the recoverable amount of the CGU is less than its carrying amount, an impairment loss is recognized. Impairment losses relating to goodwill cannot be reversed in future periods. Intangible assets are tested for impairment annually, during the fourth quarter, and when circumstances indicate that the carrying value may be impaired. When the recoverable amount of an intangible asset is less than its carrying amount, an impairment loss is recognized. The residual values and useful lives of long-lived assets are reviewed at the end of each reporting period and adjusted if appropriate. An asset's carrying amount is written down immediately to its recoverable amount if the asset's carrying amount is greater than its estimated recoverable amount. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. In determining fair value less costs to sell, recent market transactions are taken into account, if available. If no such transactions can be identified, an appropriate valuation model is used. Financial liabilities Initial recognition and measurement Financial liabilities are classified, at initial recognition, as financial liabilities held for trading, loans and borrowings, payables, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. All financial liabilities are recognized initially at fair value and, in the case of loans and borrowings, net of directly attributable transaction costs. The Group’s financial liabilities include trade and other payables, exchangeable senior notes (the “Notes”) and derivative financial instruments. Subsequent measurement The measurement of financial liabilities depends on their classification. Financial liabilities classified as held for trading, including derivative financial instruments entered into by the Group that are not designated as hedging instruments in hedge relationships are recognized at fair value. Separated embedded derivatives are also classified as held for trading unless they are designated as effective hedging instruments. Gains or losses on liabilities held f |
Critical Accounting Estimates a
Critical Accounting Estimates and Judgments | 12 Months Ended |
Jun. 30, 2018 | |
Accounting Judgments and Estimates [Abstract] | |
Critical Accounting Estimates and Judgments | Critical Accounting Estimates and Judgments The preparation of the financial statements requires management to make judgments, estimates and assumptions that affect the reported amounts in the financial statements. Management continually evaluates its judgments and estimates in relation to assets, liabilities, contingent liabilities, revenues and expenses. Management bases its judgments and estimates on historical experience and on other various factors it believes to be reasonable under the circumstances, the result of which forms the basis of the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions and conditions and may materially affect the financial results or the financial position reported in future periods. Management has identified the following critical accounting policies for which significant judgments, estimates and assumptions are made. Significant accounting estimates and assumptions Revenue As described in the Group’s revenue accounting policy, revenue will be recognized when all criteria are met in accordance with IAS 18, Revenue . Most of the Group’s revenue-generating arrangements include more than one deliverable. Assumptions have to be applied in order to determine when to account for deliverables separately and how to allocate the total arrangement fee to its individual elements. The Group does not allocate different deliverables under one arrangement separately if a basis for allocating the overall arrangement fee cannot be identified. The Group has concluded that a reasonable allocation basis exists if vendor-specific objective evidence of fair value can be established for each undelivered software element in an arrangement. However, estimation is required and the Group’s conclusions around the approach to allocate fair value may significantly impact the timing and amount of revenue recognized. Share-based payment transactions The Group measures the cost of equity-settled transactions with employees by reference to the fair value of the equity instruments at the date at which they are granted. The accounting estimates and assumptions relating to equity-settled share-based payments may impact expenses, equity and the carrying amounts of liabilities within the next financial reporting period. Business combinations The Group uses its best estimates and assumptions to accurately assign fair value to the tangible and intangible assets acquired and liabilities assumed at the acquisition date. The Group’s estimates are inherently uncertain and subject to refinement. During the measurement period, which may be up to one year from the date of acquisition, the Group may record adjustments to the fair value of these tangible and intangible assets acquired and liabilities assumed, with the corresponding offset to goodwill. In addition, uncertain tax positions are initially established in connection with a business combination as of the acquisition date. The Group continues to collect information and reevaluates these estimates and assumptions as deemed reasonable by management. The Group records any adjustments to these estimates and assumptions against goodwill provided they arise within the measurement period. Upon the conclusion of the measurement period or final determination of the fair value of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to the consolidated statements of operations. Significant accounting judgments Taxation Deferred tax assets are recognized for deductible temporary differences for which management considers it is probable that future taxable income will be available to utilize those temporary differences. Significant management judgment is required to determine the amount of deferred tax assets that can be recognized, based upon the likely timing and the level of future taxable income, together with future tax-planning strategies. Management judgment is required to determine the extent to which deferred tax assets should be recognized based upon the likely timing and the level of future taxable income available to utilize the Group’s deferred tax benefits. Assumptions about the generation of future taxable income depend on management’s estimates of future cash flows, future business expectations, capital expenditure, dividends, and other capital management transactions. Management judgment is also required in relation to the application of income tax legislation, which involves an element of inherent risk and uncertainty. Where management judgment is found to be misplaced, some or all of recognized deferred tax asset and liability carrying amounts may require adjustment, resulting in a corresponding credit or charge to the consolidated statements of operations. Impairment of non-financial assets The Group assesses impairment of all assets at each reporting date by evaluating conditions specific to the Group and to the particular asset that may lead to impairment. These include product performance, technology, economic and political environments, and future product expectations. If an impairment trigger exists, the recoverable amount of the asset is determined. No indicators of impairment existed that were significant enough to warrant such assets to be tested for impairment in the fiscal years ended June 30, 2018 , 2017 and 2016 . Impairment of financial instruments The Group assesses the credit risk for financial instruments and establishes a loss allowance for impairment that represents its estimate of incurred losses in respect of financial instruments. |
Group Information
Group Information | 12 Months Ended |
Jun. 30, 2018 | |
Disclosure of interests in other entities [Abstract] | |
Group Information | Group Information As of June 30, 2018 , the Group’s subsidiaries, all of which are wholly-owned, were as follows: Name Country of Incorporation Atlassian (UK) Limited United Kingdom, United States of America Atlassian (UK) Holdings Limited United Kingdom, United States of America Atlassian (Australia) Limited United Kingdom, United States of America Atlassian (Global) Limited United Kingdom Atlassian (UK) Operations Limited United Kingdom Atlassian, Inc. United States of America Atlassian LLC United States of America Atlassian Network Services, Inc. United States of America Dogwood Labs, Inc. United States of America Trello, Inc. United States of America Atlassian Australia 1 Pty Ltd Australia Atlassian Australia 2 Pty Ltd Australia Atlassian Corporation Pty. Ltd. Australia Atlassian Pty Ltd Australia Atlassian Capital Pty. Ltd. Australia MITT Australia Pty Ltd Australia MITT Trust Australia Atlassian K.K. Japan Atlassian Germany GmbH Germany Atlassian Holdings B.V. Netherlands Atlassian Philippines, Inc. Philippines Atlassian France France Atlassian B.V. Netherlands Atlassian India LLP India |
Financial Risk Management
Financial Risk Management | 12 Months Ended |
Jun. 30, 2018 | |
Financial instruments [Abstract] | |
Financial Risk Management | Financial Risk Management The Group's activities expose it to a variety of financial risks: market risk (including currency risk, equity price risk, and interest rate risk), credit risk and liquidity risk. The Group's overall risk management approach focuses on the unpredictability of financial markets and seeks to minimize potential adverse effects on the financial performance of the Group. Management regularly reviews the Group's risk management objectives to ensure that risks are identified and managed appropriately. The Board of Directors is made aware of and reviews management's risk assessments prior to entering into significant transactions. Market risk Currency risk The Group operates globally and is exposed to foreign exchange risk arising from exposure to various currencies in the ordinary course of business. Our exposures primarily consist of the Australian dollar, British pound, Euro, Japanese yen, Philippine peso, Indian rupee and Swiss franc. Foreign exchange risk arises from commercial transactions and recognized financial assets and liabilities denominated in a currency other than the U.S. dollar. The Group’s foreign exchange policy is reviewed annually by the Group’s audit committee and requires the Group to monitor its foreign exchange exposure on a regular basis. All of our sales contracts are denominated in U.S. dollars, and our operating expenses are generally denominated in the local currencies of the countries where our operations are located. We therefore benefit from a strengthening of the U.S. dollar and are adversely affected by the weakening of the U.S. dollar. We have a cash flow hedging program in place and enter into derivative transactions to manage certain foreign currency exchange risks that arise in the Group’s ordinary business operations. We recognize all derivative instruments as either assets or liabilities on our consolidated statements of financial position and measure them at fair value. Gains and losses resulting from changes in fair value are accounted for depending on the use of the derivative and whether it is designated and qualifies for hedge accounting. We enter into master netting agreements with select financial institutions to reduce our credit risk and contract with several counterparties to reduce our concentration risk with any single counterparty. We do not have significant exposure to counterparty credit risk at this time. We do not require nor are we required to post collateral of any kind related to our foreign currency derivatives. Cash flow hedging We enter into foreign exchange forward contracts with the objective to mitigate certain currency risks associated with cost of revenues and operating expenses denominated in Australian dollars. These foreign exchange forward contracts are designated as cash flow hedges. To receive hedge accounting treatment, all hedging relationships are formally documented at the inception of the hedge, and the hedges must be highly effective in offsetting changes to future cash flows on hedged transactions. We include the forward element of these hedging instruments in the hedge relationship and on a quarterly basis qualitatively assess whether the hedges are expected to provide offsetting changes against the hedged items. The effect of the cash flow hedges determined to be effective is recognized in other comprehensive income and impact profit or loss in the same period or periods as the hedged items are recognized in profit or loss. Amounts reclassified from cash flow hedge reserve to profit or loss are recorded to the same functional expense as hedged item or items. Gains or losses related to the ineffective portion of cash flow hedges, if any, are recognized immediately in the same functional expense as the hedged item or items. We measure ineffectiveness in a cash flow hedge relationship using the hypothetical derivative method. Ineffectiveness occurs only if the present value of the cumulative gain or loss on the derivative instrument exceeds the present value of the cumulative gain or loss on the hypothetical derivative, which is used to measure changes of expected future cash flow. It is our policy to enter into cash flow hedges to hedge cost of revenues and operating expenses up to 18 months. Balance sheet hedging We also enter into foreign exchange forward contracts to hedge a portion of certain foreign currency denominated as monetary assets and liabilities to reduce the risk that such foreign currency will be adversely affected by changes in exchange rates. These contracts hedge monetary assets and liabilities that are denominated in non-functional currencies and are carried at fair value with changes in the fair value recorded to other non-operating income (expense), net on our consolidated statements of operations. These contracts do not subject us to material balance sheet risk due to exchange rate movements because gains and losses on these derivatives are intended to offset gains and losses on the monetary assets and liabilities being hedged. Foreign currency sensitivity A sensitivity analysis performed on our hedging portfolio as of June 30, 2018 indicated that a hypothetical 10% strengthening of the U.S. dollar against other currencies applicable to our business would decrease the fair value of our foreign currency contracts by $18.8 million . A hypothetical 10% weakening of the U.S. dollar against other currencies would increase the fair value of our foreign currency contracts by $18.8 million . A sensitivity analysis performed on our hedging portfolio as of June 30, 2017 indicated that a hypothetical 10% strengthening of the U.S. dollar against other currencies applicable to our business would decrease the fair value of our foreign currency contracts by $11.3 million . A hypothetical 10% weakening of the U.S. dollar against other currencies would increase the fair value of our foreign currency contracts by $11.3 million . Equity Price Risk The Group is exposed to equity price risk in connection with our Notes, including exchange and settlement provisions based on the price of our Class A ordinary shares at exchange or maturity of the Notes. In addition, the capped call transactions associated with the Notes also include settlement provisions that are based on the price of our Class A ordinary shares. The amount of cash we may receive from capped call counterparties in connection with the capped calls is determined by the price of our Class A ordinary shares. A sensitivity analysis performed on the Notes embedded exchange derivative and capped call transactions indicates that a hypothetical 10% increase in our share price would increase the fair value of the Notes embedded exchange derivative by $46.7 million and increase the fair value of the capped call transactions by $15.9 million . A hypothetical 10% decrease in our share price would decrease the fair value of the Notes embedded exchange derivative by $43.0 million and increase the fair value of the capped call transactions by $16.2 million . Interest rate risk Our cash equivalents and investment portfolio are subject to market risk due to changes in interest rates. Fixed rate securities may have their market value adversely impacted due to a rise in interest rates. As of June 30, 2018 , the Group had cash and cash equivalents totaling $1.4 billion and short-term investments totaling $323.1 million . A sensitivity analysis performed on our portfolio indicated that a hypothetical 100 basis point increase in interest rates at June 30, 2018 and 2017 would result in a $1.7 million and $2.0 million decrease in the market value of our investments, respectively. This estimate is based on a sensitivity model that measures market value changes when changes in interest rates occur. Credit risk The Group is exposed to credit risk arising from cash and cash equivalents, deposits with banks and financial institutions, investments, foreign exchange derivative contracts, and capped call transactions related to our issuance of the Notes, as well as credit exposures to customers, including outstanding receivables and committed transactions. Credit risk is managed on a Group basis. The Group has a minimum credit rating requirement for banks and financial institutions with which it transacts. The Group’s investments are governed by a corporate investment policy with a minimum credit ratings and concentration limits for all securities. The Group is exposed to credit risk in the event of non-performance by the counterparties to our foreign exchange derivative contracts and our capped call transactions at maturity. To reduce the credit risk, we continuously monitor credit quality of our counterparties to such derivatives. We believe the risk of non-performance under these contracts is remote. The Group's customer base is highly diversified, thereby limiting credit risk. The Group manages its credit risk with customers by closely monitoring its receivables. Sales are typically settled using major credit cards, mitigating credit risk. Our credit policy typically requires payment within 30 - 45 days, and we establish credit limits for each customer based on our internal guidelines. No one customer accounted for more than 10% of total revenues during each of the fiscal years ended June 30, 2018 , 2017 or 2016 . Liquidity risk Liquidity risk is the risk that the group will encounter difficulty in meeting its obligations associated with its financial liabilities as they fall due. The table below present the contractual undiscounted cash flows relating to the Group’s financial liabilities at the balance sheet date. The cash flows are grouped based on the remaining period to the contractual maturity date. The Group has sufficient funds to meet these commitments as they become due. Contractual maturities of financial liabilities are as follows: Up to 12 Months Greater than 12 Months Total (U.S. $ in thousands) As of June 30, 2018 Financial liabilities: Trade and other payables $ 113,105 $ — $ 113,105 Exchangeable senior notes, net — 1,000,000 1,000,000 $ 113,105 $ 1,000,000 $ 1,113,105 As of June 30, 2017 Financial liabilities: Trade and other payables $ 73,192 $ — $ 73,192 Other non-current liabilities — 4,969 4,969 $ 73,192 $ 4,969 $ 78,161 Capital risk management The primary objective of the Group's capital structure management is to ensure that it maintains an appropriate capital structure to support its business and maximize shareholder value. The Group manages its capital structure and adjusts it based on business needs and economic conditions. During the fiscal year ended June 30, 2018, the Group issued $1.0 billion of exchangeable debt for working capital and other corporate purposes, including acquiring complementary businesses, products, services or technologies. No material changes were made to the process of managing capital during the fiscal years ended June 30, 2017 and 2016. To maintain or adjust the capital structure, the Group may return capital to shareholders, issue new shares, or consider external financing alternatives. The Group does not have any present or future plan to pay dividends on its shares. Fair value measurements The fair value of financial assets and financial liabilities must be estimated for recognition and measurement or for disclosure purposes. IFRS 13, Fair value measurement defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either, in the principle market for the asset or liability, or in the absence of a principal market, in the most advantageous market for the asset or liability. IFRS 13 requires disclosure of fair value measurements by level of the following fair value measurement hierarchy: • Level 1 - Quoted (unadjusted) market prices in active markets for identical assets or liabilities • Level 2 - Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observable • Level 3 - Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable The fair value of financial instruments traded in active markets is included in Level 1. The fair value of financial instruments that are not traded in an active market is determined using valuation techniques. These valuation techniques maximize the use of observable market data where it is available and rely as little as possible on entity-specific estimates. If all significant inputs required to measure the fair value an instrument are observable, the instrument is included in Level 2. If one or more of the significant inputs is not based on observable market data, the instrument is included in Level 3. Assets and liabilities measured at fair value are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The Group's assessment of the significance of a particular input to the fair value measurement in its entirety requires management to make judgments and considers factors specific to the asset or liability. There were no transfers between levels during fiscal year 2018 and 2017. The following table presents the Group’s financial assets and liabilities measured and recognized at fair value as of June 30, 2018 , by level within the fair value hierarchy: Level 1 Level 2 Level 3 Total (U.S. $ in thousands) Description Assets Cash and cash equivalents: Money market funds $ 693,596 $ — $ — $ 693,596 Commercial paper — 29,118 — 29,118 Agency securities — 7,989 — 7,989 Corporate debt securities — 1,000 — 1,000 U.S. treasury securities — 18,968 — 18,968 Total cash and cash equivalents 693,596 57,075 — 750,671 Investments: U.S. treasury securities — 52,700 — 52,700 Agency securities — 22,015 — 22,015 Certificates of deposit and time deposits — 58,824 — 58,824 Commercial paper — 35,372 — 35,372 Corporate debt securities — 157,883 — 157,883 Municipal securities — — — — Total investments — 326,794 — 326,794 Derivative assets — 63 — 63 Capped call transactions — — 99,932 99,932 Total assets 693,596 383,932 99,932 1,177,460 Liabilities Derivative liabilities — 5,417 — 5,417 Notes embedded exchange derivative — — 202,553 202,553 Total liabilities $ — $ 5,417 $ 202,553 $ 207,970 As of June 30, 2018 , the Group had $323.1 million of investments which were classified as short-term investments on the Group’s consolidated statements of financial position. Additionally, the Group had certificates of deposit and time deposits totaling $3.6 million which were classified as long-term and were included in other non-current assets on the Group’s statement of financial position. As of June 30, 2018 and 2017, the Group’s short-term investments were classified as debt instruments at fair value through other comprehensive income. Assets and Liabilities Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Level 3) The Notes embedded exchange derivative and capped call transactions (“Exchange and Capped Call Derivatives”) are measured at fair value using Black-Scholes option pricing models that utilizes both observable and unobservable market inputs. Exchange and Capped Call Derivatives are classified as level 3 as the Group uses stock price volatility implied from options traded with a substantially shorter term, which makes this an unobservable input that is significant to the valuation. The stock price volatility as of June 30, 2018, ranged from 32.7% to 36.3% . Other inputs that are observable and significant for the valuation includes our stock price and time to expiration of the options. In general, an increase in our stock price volatility would increase the fair value of the derivatives and would result in a net loss. The future impact on the other non-operating income (expense), net depends on how significant volatility changes independently and in relation to other inputs. As of June 30, 2018, a 10% higher volatility, holding other inputs constant would result in an approximately $23.5 million of additional loss. The following table illustrates the changes in the balances of the capped call transaction and Notes embedded exchange derivative liability associated with the Notes, as reported in other non-current assets and other non-current liabilities in the consolidated statements of financial position: Capped Call Transactions Notes Embedded Exchange Derivative (U.S. $ in thousands) Balance as of June 30, 2017 $ — $ — Additions 87,700 (177,907 ) Changes in unrealized gains (losses) 12,232 (24,646 ) Balance as of June 30, 2018 $ 99,932 $ (202,553 ) The following table presents the Group’s financial assets and liabilities measured and recognized at fair value as of June 30, 2017, by the level within the fair value hierarchy: Level 1 Level 2 Level 3 Total (U.S. $ in thousands) Description Cash and cash equivalents: Money market funds $ 78,564 $ — $ — $ 78,564 Commercial paper — 2,749 — 2,749 Total cash and cash equivalents 78,564 2,749 — 81,313 Investments: U.S. treasury securities — 61,676 — 61,676 Agency securities — 16,654 — 16,654 Certificates of deposit and time deposits — 44,101 — 44,101 Commercial paper — 33,928 — 33,928 Corporate debt securities — 148,546 — 148,546 Municipal securities — 4,788 — 4,788 Total investments — 309,693 — 309,693 Derivative assets — 3,252 — 3,252 Total assets $ 78,564 $ 315,694 $ — $ 394,258 As of June 30, 2017, the Group had $305.5 million of investments which were classified as short-term investments on the Group’s consolidated statements of financial position. Additionally, the Group had certificates of deposit and time deposits totaling $4.2 million which were classified as long-term and were included in other non-current assets on the Group’s consolidated statements of financial position. The Group's financial assets include cash and cash equivalents, trade receivables, tax receivables, and short-term and long-term deposits with fixed interest rates. As of June 30, 2018 , the Group’s investments consisted of the following: Amortized Cost Unrealized Gains Unrealized Losses Fair Value (U.S. $ in thousands) Investments U.S. treasury securities $ 52,809 $ — $ (109 ) $ 52,700 Agency securities 22,097 — (82 ) 22,015 Certificates of deposit and time deposits 58,824 — — 58,824 Commercial paper 35,372 — — 35,372 Corporate debt securities 158,538 14 (669 ) 157,883 Total investments $ 327,640 $ 14 $ (860 ) $ 326,794 As of June 30, 2017 , the Group’s investments consisted of the following: Amortized Cost Unrealized Gains Unrealized Losses Fair Value (U.S. $ in thousands) Investments U.S. treasury securities $ 61,760 $ — $ (84 ) $ 61,676 Agency securities 16,740 — (86 ) 16,654 Certificates of deposit and time deposits 44,101 — — 44,101 Commercial paper 33,928 — — 33,928 Corporate debt securities 148,634 52 (140 ) 148,546 Municipal securities 4,789 — (1 ) 4,788 Total investments $ 309,952 $ 52 $ (311 ) $ 309,693 The table below summarizes the Group’s investments by remaining contractual maturity based on the effective maturity date: As of June 30, 2018 2017 (U.S. $ in thousands) Recorded as follows: Due in one year or less $ 277,087 $ 223,562 Due after one year 49,707 86,131 Total investments $ 326,794 $ 309,693 Derivative financial instruments The group have derivative instruments that are used for hedging activities as discussed below and derivative instruments relating to the Notes and the capped calls as discussed in Note 14: Exchangeable Senior Notes. The fair value of the derivative instruments were as follows: Statement of Financial Position Location Fair Value Fair Value (U.S. $ in thousands) Derivative assets Derivatives designated as hedging instruments: Foreign exchange forward contracts Prepaid expenses and other current assets $ 39 $ 2,915 Foreign exchange forward contracts Other non-current assets 3 249 Derivatives not designated as hedging instruments: Foreign exchange forward contracts Prepaid expenses and other current assets 21 88 Total derivative assets $ 63 $ 3,252 Derivative liabilities Derivatives designated as hedging instruments: Foreign exchange forward contracts Trade and other payables $ 5,006 $ — Foreign exchange forward contracts Other non-current liabilities 204 — Derivatives not designated as hedging instruments: Foreign exchange forward contracts Trade and other payables 207 — Total derivative liabilities $ 5,417 $ — The following table sets forth the notional amounts of our derivative instruments at June 30, 2018 (in thousands): Notional Amounts of Derivative Instruments Notional Amount by Term to Maturity Classification by Notional Amount Under 12 months Over 12 months Total Cash Flow Hedge Non Hedge Total Foreign exchange forward contracts $188,633 $12,492 $201,125 $180,898 $20,227 $201,125 The following table sets forth the notional amounts of our derivative instruments at June 30, 2017 (in thousands): Notional Amounts of Derivative Instruments Notional Amount by Term to Maturity Classification by Notional Amount Under 12 months Over 12 months Total Cash Flow Hedge Non Hedge Total Foreign exchange forward contracts $ 100,470 $ 8,707 $ 109,177 $ 99,662 $ 9,515 $ 109,177 The effects of derivatives designated as hedging instruments on our consolidated financial statements were as follows (amounts presented are prior to any income tax effects): Foreign Exchange Forward Contracts Fiscal Year Ended June 30, 2018 2017 (U.S. $ in thousands) Gross unrealized gain (loss) recognized in other comprehensive income $ (5,730 ) $ 4,517 Net gain reclassified from cash flow hedge reserve into profit or loss - effective portion $ 2,599 $ 1,356 Gain (loss) recognized into profit or loss - ineffective portion $ 12 $ (3 ) |
Other Non-operating Income (Exp
Other Non-operating Income (Expense), Net | 12 Months Ended |
Jun. 30, 2018 | |
Disclosure of additional information [Abstract] | |
Other Non-operating Income (Expense), Net | Other Non-operating Income (Expense), Net Other non-operating income (expense), net consisted of the following: Fiscal Year Ended 2018 2017 2016 (U.S. $ in thousands) Exchange derivative allocated issuance costs $ (1,785 ) $ — $ — Net unrealized loss on exchange derivative and capped calls (12,414 ) — — Foreign currency exchange gain (loss), net (413 ) (93 ) 376 Contributions to Atlassian Foundation (1,856 ) (1,620 ) (1,463 ) Other income 1,311 371 15 Other non-operating income (expense), net $ (15,157 ) $ (1,342 ) $ (1,072 ) |
Expenses
Expenses | 12 Months Ended |
Jun. 30, 2018 | |
Profit or loss [abstract] | |
Expenses | Expenses Loss before income tax benefit (expense) included the following expenses: Fiscal Year Ended June 30, 2018 2017 2016 (U.S. $ in thousands) Depreciation: Equipment $ 1,214 $ 1,022 $ 762 Computer hardware and software 11,543 23,729 9,537 Furniture and fittings 1,485 1,016 720 Leasehold improvements 7,915 5,923 3,416 Total depreciation 22,157 31,690 14,435 Amortization: Patents and trademarks 6,990 2,907 31 Customer relationships 29,100 12,361 55 Acquired developed technology 21,188 14,588 7,405 Total amortization 57,278 29,856 7,491 Total depreciation and amortization $ 79,435 $ 61,546 $ 21,926 Employee benefits expense: Salaries and wages $ 273,326 $ 201,953 $ 149,506 Variable compensation 33,067 19,260 14,260 Payroll taxes 30,478 20,792 14,250 Share-based payment expense 162,873 137,448 75,480 Defined contribution plan expense 16,839 13,041 10,105 Contractor expense 23,666 16,333 18,352 Other 44,877 34,605 31,946 Total employee benefits expense $ 585,126 $ 443,432 $ 313,899 |
Income Tax
Income Tax | 12 Months Ended |
Jun. 30, 2018 | |
Income Taxes [Abstract] | |
Income Tax | Income Tax The major components of income tax benefit for the fiscal years ended June 30, 2018 , 2017 and 2016 are as follows: Fiscal Year Ended June 30, 2018 2017 2016 (U.S. $ in thousands) Current income tax: Current income tax charge $ (1,956 ) $ (11,518 ) $ (6,475 ) Adjustments in respect of current income tax of previous years (48 ) (25 ) 989 Deferred tax: Benefit (expense) relating to origination and reversal of temporary differences (18,140 ) 28,061 17,041 Adjustments in respect of temporary differences of previous years (33,363 ) 630 (2,275 ) Income tax benefit (expense) $ (53,507 ) $ 17,148 $ 9,280 A reconciliation between income tax benefit and the product of accounting income (loss) multiplied by the United Kingdom's domestic tax rate for the fiscal years ended June 30, 2018 , 2017 and 2016 , is as follows: Fiscal Year Ended June 30, 2018 2017 2016 (U.S. $ in thousands) Loss before income tax benefit (expense) $ (65,834 ) $ (59,652 ) $ (4,907 ) At the United Kingdom's statutory income tax rate of 19%, 19.75%, and 20.00% in fiscal 2018, 2017 and 2016, respectively 12,508 11,781 983 Tax effect of amounts that are not taxable (deductible) in calculating taxable income: Research and development incentive 2,620 18,404 20,673 Non-deductible charges relating to exchangeable senior notes (3,195 ) — — Share-based payment (11,199 ) (9,946 ) (6,317 ) Foreign tax credits not utilized (81 ) — (4,011 ) Amortization of intangible assets that do not give rise to deferred taxes (31 ) (673 ) (907 ) Non-deductible retention on acquisition — (150 ) (405 ) Non-assessable non-operating items — — 7,995 Foreign tax rate adjustment (4,968 ) (1,990 ) (7,341 ) Adjustment to deferred tax balance (14,602 ) (332 ) 150 Other items, net (1,148 ) (551 ) (254 ) (20,096 ) 16,543 10,566 Adjustments in respect to current income tax of previous years (48 ) (25 ) 989 Adjustments in respect to deferred income tax of previous years (33,363 ) 630 (2,275 ) Income tax benefit (expense) $ (53,507 ) $ 17,148 $ 9,280 Details of deferred taxes, recognized and unrecognized: Consolidated Statements of Financial Position Consolidated Statements of Operations As of June 30, Fiscal Year Ended June 30, 2018 2017 2018 2017 (U.S. $ in thousands) Depreciation for tax purposes $ 2,537 $ 1,122 $ 1,415 $ 4,331 Provisions, accruals and prepayments 7,349 7,560 (211 ) 1,795 Deferred revenue 28,093 15,275 12,818 11,621 Unrealized foreign currency exchange gains (410 ) (184 ) (226 ) — Carried forward tax losses (gains) 850 35,071 (34,221 ) 29,729 Carried forward tax credits—credited to profit and loss 5,456 46,412 (41,546 ) 9,709 Intangible assets 16,620 (34,060 ) 50,680 9,091 Tax benefit (expense) from share plans—income 216 30,597 (30,379 ) 10,695 Tax benefit (expense) from share plans—equity 127 42,846 (123 ) (48,012 ) Deferred foreign taxes (10,605 ) — (10,605 ) — Other, net 2,378 (350 ) 895 (267 ) Deferred tax benefit — — $ (51,503 ) $ 28,692 Deferred tax assets, net $ 52,611 $ 144,289 Reflected in the consolidated statements of financial position as follows: Deferred tax assets $ 64,662 $ 188,239 Deferred tax liabilities (12,051 ) (43,950 ) Deferred tax assets, net $ 52,611 $ 144,289 Items for which no deferred tax asset has been recognized: Depreciation and amortization for tax purposes 2,081 $ — Provisions, accruals and prepayments 3,514 — Deferred revenue 22,541 — Unrealized foreign currency exchange gains 132 — Unused tax losses 166,465 2,022 Intangible assets 2,052,484 — Tax benefit from share plans- income 30,114 — Tax benefit from share plans- equity 62,760 — Capital loss 1,391 1,391 Carried forward tax credits- credited to profit and loss 25,524 3,587 Unrealized loss on investments 160 51 Other, net 1,121 — $ 2,368,287 $ 7,051 2018 2017 (U.S. $ in thousands) Reconciliation of deferred tax assets, net Balance as of July 1, $ 144,289 $ 120,773 Deferred tax charge (benefit) for the year (51,503 ) 28,692 Debited (credited) to equity (40,091 ) 34,517 Adjustment in respect of income tax payable (84 ) (7,282 ) Impact from business combinations — (32,411 ) Balance as of June 30, $ 52,611 $ 144,289 The U.S. Tax Cuts and Jobs Act (the “Tax Act”) enacted on December 22, 2017 introduces a number of changes to U.S. income tax law. Among other changes, the Tax Act (i) reduces the U.S. federal corporate tax rate from 35% to 21%, (ii) enacts limitations regarding the deductibility of interest expense, (iii) modifies the provisions relating to the limitations on deductions for executive compensation of publicly traded corporations, (iv) imposes new limitations on the utilization of net operating loss arising in taxable years beginning after December 31, 2017, (v) repeals the corporate alternative minimum tax and provides for a refund of existing alternative minimum tax credits, and (vi) creates new taxes on certain foreign-sourced earnings and certain related-party payments, which are referred to as the global intangible low-taxed income tax and the base erosion tax, respectively. As of June 30, 2018, the Group has completed the accounting for the federal tax effects of the Tax Act, however the Group’s analysis of the state impacts of the Tax Act related state non-conformity with certain provisions of the Tax Act is not yet complete. The accounting for the state impacts of the Tax Act will be completed in fiscal 2019, in accordance with International Accounting Standard 12. As a result of the new U.S. federal statutory corporate tax rate of 21% contained within the Tax Act, the Group recorded non-cash charges of $16.9 million to tax expense and $16.9 million to equity to revalue the Group’s U.S. net deferred tax assets. Additionally, in December 2017, as a result of the Group’s assessment of the realizability of its U.S. deferred tax assets, the Group recorded non-cash charges of $30.4 million to tax expense and $25.8 million to equity to reduce the carrying value of these assets. Making this decision included consideration of our historical operating results and cumulative losses in the United States. The Group will continue to assess and record any necessary changes to align its deferred tax assets to their realizable value. In December 2017, the Group made changes to its corporate structure to include certain foreign subsidiaries in its U.S. consolidated tax group that resulted in the creation of certain deferred tax assets and liabilities, including a non-recognized deferred tax asset of $2.1 billion related to the fair market value of its intellectual property. The assets are included in the Group’s quarterly assessment and are only recognized to the extent they are determined to be realizable. The $34.5 million credited to equity in fiscal 2017, primarily represents the deferred tax benefit of share-based payments in excess of the cumulative expense recognized to date of the share-based award. The total deferred tax benefit is determined using the intrinsic value of the share-based award as of each reporting date. The $7.3 million adjustment in respect of income taxes payable in fiscal 2017 represents the utilization of net operating loss deferred tax assets against taxable income of prior years, resulting in a refund due to the Group of prior year taxes paid. The impact from business combinations of $32.4 million in fiscal 2017 represents the net deferred tax assets and liabilities recognized and charged to goodwill as a result of the acquisitions of Dogwood Labs, Inc. (“StatusPage”) and Trello, Inc. (“Trello”). The Group acquired net operating loss carryforward deferred tax assets of approximately $0.5 million and $13.6 million from StatusPage and Trello, respectively. The Group also recognized deferred tax liabilities of approximately $3.1 million and $45.3 million related to acquired intangibles from StatusPage and Trello, respectively, the amortization of which will not be deductible from future taxable profits. 2018 2017 (U.S. $ in thousands) Amounts recognized directly in equity: Current tax—credited (debited) directly to equity $ — $ 401 Net deferred tax—credited (debited) directly to equity (40,091 ) 34,517 $ (40,091 ) $ 34,918 The Group has the following losses and credits available for offsetting future profit and taxes: Expiration Amount carried forward Amount recognized as of June 30, 2018 United States net operating loss June 30, 2032-June 30, 2038 $ 762,682 $ 3,774 State net operating loss June 30, 2024-June 30, 2038 110,770 1,879 United Kingdom net operating loss None 1,790 304 United States research and development credits June 30, 2031-June 30, 2038 18,211 121 State research and development credits- California None 6,672 — State research and development credits- Texas June 30, 2036-June 30, 2038 1,617 1,557 Australia research and development credits None 3,778 3,778 Australia capital loss None 4,637 — State enterprise zone credits June 30, 2020-June 30, 2024 867 — |
Trade Receivables
Trade Receivables | 12 Months Ended |
Jun. 30, 2018 | |
Trade and other receivables [abstract] | |
Trade Receivables | Trade Receivables The Group’s trade receivables consisted of the following: As of June 30, 2018 2017 (U.S. $ in thousands) Trade receivables $ 46,770 $ 26,923 Provision for impairment of receivables (629 ) (116 ) $ 46,141 $ 26,807 As of June 30, 2018 two customers accounted for more than 10% of the total trade receivables balance. These customers, both channel partners, represent 15% and 10% of the total trade receivables balance. As of June 30, 2017, one customer, a channel partner, represented 11% of total trade receivables balance. Impaired trade receivables As of June 30, 2018 and 2017, the Group had a provision for impaired receivables of $629,000 and $116,000 , respectively. The movements in the provision for impairment of receivables were as follows: (U.S. $ in thousands) As of July 1, 2016 $ — Charge for the period 116 As of June 30, 2017 116 Charge for the period 513 As of June 30, 2018 $ 629 Past due but not impaired As of June 30, 2018 and 2017, trade receivables that were past due but not impaired totaled $5.0 million and $5.9 million , respectively. These relate to a number of channel partners and customers for whom there is no recent history of default. The aging analysis of these trade receivables is as follows: As of June 30, 2018 2017 (U.S. $ in thousands) Up to three months $ 4,923 $ 5,658 Greater than three months 74 276 $ 4,997 $ 5,934 Fair value and credit risk Due to the short-term nature of these receivables, their carrying amount is assumed to approximate their fair value. The maximum exposure to credit risk at the end of the reporting period is the carrying amount of each class of receivables mentioned above. The fair value of securities held for certain trade receivables is insignificant, as is the fair value of any collateral sold or repledged. Refer to Note 5, “Financial Risk Management,” for more information on the risk management policy of the Group and the credit quality of the Group's trade receivables. |
Property and Equipment
Property and Equipment | 12 Months Ended |
Jun. 30, 2018 | |
Disclosure of detailed information about property, plant and equipment [abstract] | |
Property and Equipment | Property and Equipment Property and equipment, net consisted of the following: Equipment Computer Furniture Leasehold Total (U.S. $ in thousands) As of June 30, 2017 Opening cost balance $ 3,400 $ 52,141 $ 5,409 $ 25,114 $ 86,064 Additions 1,138 2,106 1,693 9,168 14,105 Disposals (645 ) (794 ) (34 ) (471 ) (1,944 ) Effect of change in exchange rates 2 (5 ) 15 29 41 Closing cost balance 3,895 53,448 7,083 33,840 98,266 Opening accumulated depreciation (1,727 ) (15,390 ) (1,444 ) (8,741 ) (27,302 ) Depreciation expense (1,022 ) (23,729 ) (1,016 ) (5,923 ) (31,690 ) Effect of change in exchange rates (2 ) 1 (6 ) 6 (1 ) Disposals 630 782 17 471 1,900 Closing accumulated depreciation (2,121 ) (38,336 ) (2,449 ) (14,187 ) (57,093 ) Net book amount $ 1,774 $ 15,112 $ 4,634 $ 19,653 $ 41,173 As of June 30, 2018 Opening cost balance $ 3,895 $ 53,448 $ 7,083 $ 33,840 $ 98,266 Additions 1,651 247 4,023 28,279 34,200 Disposals (320 ) (44,545 ) (83 ) (668 ) (45,616 ) Effect of change in exchange rates (2 ) (3 ) 8 5 8 Closing cost balance 5,224 9,147 11,031 61,456 86,858 Opening accumulated depreciation (2,121 ) (38,336 ) (2,449 ) (14,187 ) (57,093 ) Depreciation expense (1,214 ) (11,543 ) (1,485 ) (7,915 ) (22,157 ) Effect of change in exchange rates (1 ) 1 (4 ) 21 17 Disposals 272 43,048 43 668 44,031 Closing accumulated depreciation (3,064 ) (6,830 ) (3,895 ) (21,413 ) (35,202 ) Net book amount $ 2,160 $ 2,317 $ 7,136 $ 40,043 $ 51,656 |
Goodwill and Intangible Assets
Goodwill and Intangible Assets | 12 Months Ended |
Jun. 30, 2018 | |
Disclosure of detailed information about intangible assets [abstract] | |
Goodwill and Intangible Assets | Goodwill and Intangible Assets Goodwill Goodwill represents the excess of the purchase price in a business combination over the fair value of net tangible and intangible assets acquired. Goodwill amounts are not amortized, but rather tested for impairment at least annually during the fourth quarter. Goodwill consisted of the following: Goodwill (U.S. $ in thousands) Balance as of July 1, 2016 $ 7,138 Additions 304,712 Effect of change in exchange rates 50 Balance as of June 30, 2017 311,900 Additions — Effect of change in exchange rates 43 Balance as of June 30, 2018 $ 311,943 Impairment test for goodwill The Group operates as a single CGU and all goodwill is allocated to this unit. The recoverable amount of goodwill was assessed by comparing the market capitalization of the Group to its book value, among other qualitative factors, when reviewing for indicators of impairment. There was no impairment of goodwill during the fiscal years ended June 30, 2018 , 2017 , and 2016 . Intangible assets Intangible assets consisted of the following: Patents, Acquired Developed Technology Employee Customer Total (U.S. $ in thousands) As of June 30, 2017 Opening cost balance $ 220 $ 75,926 $ 3,631 $ 484 $ 80,261 Additions 21,525 57,300 — 58,200 137,025 Effect of change in exchange rates — 103 — — 103 Closing cost balance 21,745 133,329 3,631 58,684 217,389 Opening accumulated amortization (135 ) (62,480 ) (3,631 ) (438 ) (66,684 ) Amortization charge (2,907 ) (14,588 ) — (12,361 ) (29,856 ) Effect of change in exchange rates — (60 ) — — (60 ) Closing accumulated amortization (3,042 ) (77,128 ) (3,631 ) (12,799 ) (96,600 ) Net book amount $ 18,703 $ 56,201 $ — $ 45,885 $ 120,789 As of June 30, 2018 Opening cost balance $ 21,745 $ 133,329 $ 3,631 $ 58,684 $ 217,389 Effect of change in exchange rates — 90 — — 90 Closing cost balance 21,745 133,419 3,631 58,684 217,479 Opening accumulated amortization (3,042 ) (77,128 ) (3,631 ) (12,799 ) (96,600 ) Amortization charge (6,990 ) (21,188 ) — (29,100 ) (57,278 ) Effect of change in exchange rates — (24 ) — — (24 ) Closing accumulated amortization (10,032 ) (98,340 ) (3,631 ) (41,899 ) (153,902 ) Net book amount $ 11,713 $ 35,079 $ — $ 16,785 $ 63,577 As of June 30, 2018 , no development costs have qualified for capitalization, and all development costs have been expensed as incurred. As of June 30, 2018 , the remaining amortization period for acquired developed technology ranged from approximately one year to three years. |
Business Combinations
Business Combinations | 12 Months Ended |
Jun. 30, 2018 | |
Disclosure of detailed information about business combination [abstract] | |
Business Combinations | Business combinations Fiscal 2018 The Group did not have any business combinations during the fiscal year ended June 30, 2018. Fiscal 2017 Trello On February 3, 2017, the Group acquired all of the outstanding stock of Trello, a leading provider of project management and organization software, for consideration consisting of cash and the fair value of equity awards assumed. The Group acquired Trello to expand Atlassian’s teamwork platform by adding a complementary collaboration service to Atlassian’s existing project management, content creation and communication products. The Group has included the financial results of Trello in its consolidated financial statements from the date of acquisition, which have not been material to date. Total purchase price consideration for Trello was approximately $384.0 million , which consisted of approximately $363.8 million in cash and $20.2 million for the fair value of exchanged unvested equity awards held by Trello employees for unvested equity awards of the Company. The fair value of replacement share options issued by the Company was determined using the Black-Scholes option pricing model. The following table summarizes the estimated fair values of assets acquired and liabilities assumed as of the date of acquisition: Fair Value (U.S. $ in thousands) Cash and cash equivalents $ 1,019 Trade receivables 1,035 Prepaid expenses and other current assets 765 Deferred tax assets 17,074 Intangible assets 127,400 Goodwill 289,171 Trade and other payables (3,532 ) Deferred revenue (2,165 ) Deferred tax liabilities (46,760 ) Net assets acquired $ 384,007 The excess of purchase consideration over the fair value of net tangible and identifiable intangible assets acquired was recorded as goodwill. The goodwill balance is primarily attributed to the assembled workforce and expanded market opportunities when integrating Trello’s technology with the Group’s other offerings. The goodwill balance is not deductible for income tax purposes. The fair values assigned to tangible assets acquired, liabilities assumed and identifiable intangible assets were based on management’s estimates and assumptions. The deferred tax liability established was primarily a result of the difference in the book basis and tax basis related to the identifiable intangible assets. The Group’s purchase price allocation is preliminary and subject to revision as additional information about fair value of assets and liabilities becomes available. If additional information is obtained up to one year from the acquisition date regarding facts and circumstances that existed as of the acquisition date, the estimated fair values of assets acquired and liabilities assumed will be updated accordingly. The following table sets forth the components of identifiable intangible assets acquired and their estimated useful lives as of the date of acquisition. Fair Value Useful Life (U.S. $ in thousands) (years) Developed technology $ 50,600 3 Customer relationships 56,900 2 Trade names 19,900 3 Total intangible assets subject to amortization $ 127,400 The amount recorded for developed technology represents the estimated fair value of Trello’s project management and organization technology. The amount recorded for customer relationships represents the fair values of the underlying relationship with Trello customers. Other fiscal 2017 business combinations On July 12, 2016, the Group acquired StatusPage for $18.3 million in cash, net of cash acquired, and $3.3 million of deferred consideration. The Group has included the financial results of StatusPage in its consolidated financial statements from the date of acquisition, which have not been material to date. In allocating the purchase consideration based on estimated fair values, the Group recorded $8.7 million of acquired intangible assets with useful lives of two to five years and $15.5 million of goodwill. The goodwill balance is not deductible for income tax purposes. |
Other Balance Sheet Accounts
Other Balance Sheet Accounts | 12 Months Ended |
Jun. 30, 2018 | |
Subclassifications of assets, liabilities and equities [abstract] | |
Other Balance Sheet Accounts | Other Balance Sheet Accounts Cash and cash equivalents Cash and cash equivalents consisted of the following: As of June 30, 2018 2017 (U.S. $ in thousands) Cash and bank deposits $ 659,668 $ 163,107 U.S. treasury securities 18,968 — Corporate securities 1,000 — Agency securities 7,989 — Commercial paper 29,118 2,749 Money market funds 693,596 78,564 Total cash and cash equivalents $ 1,410,339 $ 244,420 Prepaid expenses and other current assets Prepaid expenses and other current assets consisted of the following: As of June 30, 2018 2017 (U.S. $ in thousands) Prepaid expenses $ 19,702 $ 12,984 Accrued interest income on short-term investments 2,642 4,209 Other receivables 3,059 1,736 Other current assets 2,816 4,388 Total prepaid expenses and other current assets $ 28,219 $ 23,317 Other receivables generally arise from transactions outside the normal operating activities of the Group. Interest may be charged at commercial rates where the terms of repayment exceed six months. Collateral is not normally required. Other non-current assets Other non-current assets consisted of the following: As of June 30, 2018 2017 (U.S. $ in thousands) Security deposits $ 5,248 $ 4,803 Capped call transactions 99,932 — Other non-current assets 7,041 4,466 $ 112,221 $ 9,269 As of June 30, 2018 and 2017 , the Group had certificates of deposit and time deposits totaling $3.7 million and $4.2 million which were classified as long-term and were included in security deposits. Included in the Group’s other non-current assets balance as of June 30, 2018 and 2017 were $6.6 million and $3.3 million respectively, of restricted cash used for commitments of standby letters of credit related to facility leases and were not available for the Group’s use in its operations. Trade and other payables Trade and other payables consisted of the following: As of June 30, 2018 2017 (U.S. $ in thousands) Trade payables $ 17,119 $ 12,464 Accrued expenses 42,905 24,761 Accrued compensation and employee benefits 28,302 16,687 Retention bonus 410 1,906 Sales and indirect taxes 8,076 6,114 Operating lease payable 1,420 688 Deferred acquisition-related consideration — 3,300 Foreign exchange forward contracts 5,213 — Other payables 9,660 7,272 $ 113,105 $ 73,192 Current provisions Current provisions consisted of the following: As of June 30, 2018 2017 (U.S. $ in thousands) Employee benefits $ 7,215 $ 6,162 Current provisions for employee benefits include accrued annual leave and long service leave. Long service leave covers all unconditional entitlements where employees have completed the required period of service and those where employees are entitled to pro rata payments. Non-current provisions Non-current provisions consisted of the following: As of June 30, 2018 2017 (U.S. $ in thousands) Employee benefits $ 2,094 $ 1,415 Dilapidation provision 2,269 1,918 $ 4,363 $ 3,333 The non-current provision for employee benefits includes long service leave as described above. The dilapidation provision relates to certain lease arrangements for office space entered into by the Group. These lease arrangements require the Group to restore each premises to its original condition upon lease termination. Accordingly, the Group records a provision for the present value of the estimated future costs to retire long-lived assets at the expiration of these leases. Other non-current liabilities Other non-current liabilities consisted of the following: As of June 30, 2018 2017 (U.S. $ in thousands) Deferred rent $ 11,777 $ 4,660 Notes embedded exchange derivative 202,553 — Other non-current liabilities 655 309 $ 214,985 $ 4,969 |
Exchangeable Senior Notes
Exchangeable Senior Notes | 12 Months Ended |
Jun. 30, 2018 | |
Borrowings [abstract] | |
Exchangeable Senior Notes | Exchangeable Senior Notes 2023 Exchangeable Senior Notes In April 2018, Atlassian, Inc. a wholly owned subsidiary of the Company issued $850 million in aggregate principal amount of Notes due on May 1, 2023. In May, 2018, the initial purchasers of the Notes exercised their option to purchase an additional $150 million in aggregate principal amount of the Notes, bringing the total aggregate principal amount of the Notes to $1 billion . The Notes are senior, unsecured obligations of the Company, and are scheduled to mature on May 1, 2023, unless earlier exchanged, redeemed or repurchased. The Notes bear interest at a rate of 0.625% per year payable semiannually in arrears on May 1 and November 1 of each year, beginning on November 1, 2018. Under certain circumstances and during certain periods, the Notes may be exchanged at the option of the holders into cash. The initial exchange rate for the Notes is 12.2663 of the Company’s Class A ordinary shares per $1,000 principal amount of Notes (equivalent to an initial exchange price of approximately $81.52 per share) and will be subject to customary anti-dilution adjustments. The Notes may also be redeemed under certain circumstances. In connection with the issuance of the Notes, the Company entered into privately negotiated capped call transactions with certain financial institutions. The capped call transactions are expected to generally offset cash payments due , limited by a capped price per share. The initial cap price of the capped call transactions is $114.42 per share and is subject to certain adjustments under the terms of the capped call transactions. The net proceeds from the offering of the Notes were approximately $990.0 million , after deducting the initial purchasers’ discounts and commissions and estimated offering expenses. The Company used $87.7 million of the net proceeds of the offering to purchase the capped calls. The remaining net proceeds of the offering will be used for working capital and other general corporate purposes. The Company may also use a portion of the net proceeds to acquire complementary businesses, products, services or technologies. Impact of Early Exchange Conditions The Company assesses whether the stock price exchange condition is met at the end of each fiscal quarter. If one of the Notes’ early exchange conditions is met in any fiscal quarter, the Company would classify its net liability under the Notes as a current liability on the consolidated statements of financial position as of the end of that fiscal quarter. If none of the Notes’ early exchange conditions have been met in a future fiscal quarter prior to the one -year period immediately preceding the maturity date, the Company would classify its net liability under the Notes as a non-current liability on the consolidated statements of financial position as of the end of that fiscal quarter. If the note holders elect to convert their Notes prior to maturity, any unamortized discount and transaction fees will be expensed at the time of exchange. As of June 30, 2018, no events were triggered that require the reclassification of the Notes to a current liability. As of June 30, 2018, the if-exchanged value of the Notes to the note holders was less than the principal amount of $1.0 billion . The fair value of the Notes was $1.033 billion as of June 30, 2018. The Notes currently trade at a premium to the if-exchanged value of the Notes. Notes Embedded Exchange Derivative The exchange feature of the Notes requires bifurcation from the Notes and is accounted for as a derivative liability. The fair value of the Notes’ embedded exchange derivative at the time of issuance was $177.9 million and was recorded as original debt discount for purposes of accounting for the debt component of the Notes. This discount is amortized as interest expense using the effective interest method over the term of the Notes. The Notes embedded exchange derivative is carried on the consolidated statements of financial position at its estimated fair value and is adjusted at the end of each reporting period, with unrealized gain or loss reflected in the consolidated statements of operations. The fair value was $202.6 million as of June 30, 2018. Capped Call Transactions The capped call transactions expire in May 2023 and must be settled in cash. The aggregate cost of the capped calls was $87.7 million . The capped call transactions are accounted for as derivative assets and are carried on the consolidated statements of financial position at their estimated fair value. The capped calls are adjusted to fair value each reporting period, with unrealized gain or loss reflected in the consolidated statements of operations. The fair value was $99.9 million as of June 30, 2018. The classification of the Notes embedded exchange derivative liability and the capped calls asset as current or non-current on the consolidated statements of financial position corresponds with the classification of the Notes, is evaluated at each balance sheet date, and may change from time to time depending on whether the early exchange conditions are met. The principal amount, unamortized debt discount, unamortized issuance costs and net carrying amount of the liability component of the Notes as of June 30, 2018 were as follow: As of June 30, 2018 (U.S. $ in thousands) Principal amount $ 1,000,000 Unamortized debt discount (172,464 ) Unamortized issuance costs (7,899 ) Net liability $ 819,637 The effective interest rate, contractual interest expense and amortization of debt discount for the Notes for the fiscal year ended June 30, 2018 were as follow: 2018 (U.S. $ in thousands) Effective interest rate 4.83 % Contractual interest expense 1,075 Amortization of debt discount 5,443 |
Shareholders' Equity
Shareholders' Equity | 12 Months Ended |
Jun. 30, 2018 | |
Disclosure of classes of share capital [abstract] | |
Shareholders' Equity | Shareholders’ Equity Share capital As of June 30, As of June 30, 2018 2017 2018 2017 (number of shares) (U.S. $ in thousands) Details Class A ordinary shares 105,371,800 91,979,704 $ 10,537 $ 9,198 Class B ordinary shares 129,942,506 135,283,942 12,994 13,528 235,314,306 227,263,646 $ 23,531 $ 22,726 Movements in Class A ordinary share capital Number of Amount (U.S. $ in thousands) Details Balance as of July 1, 2016 75,505,973 $ 7,550 Conversion of Class B ordinary shares 6,326,879 633 Exercise of share options 5,487,334 549 Issuance for settlement of RSUs 4,510,995 451 Vesting of share options that were early exercised 148,523 15 Balance as of June 30, 2017 91,979,704 9,198 Conversion of Class B ordinary shares 5,861,707 587 Exercise of share options 1,902,084 190 Issuance for settlement of RSUs 5,253,809 525 Vesting of share options that were early exercised 374,496 37 Balance as of June 30, 2018 105,371,800 $ 10,537 Movements in Class B ordinary share capital Number of Amount (U.S. $ in thousands) Details Balance as of July 1, 2016 140,696,234 $ 14,070 Exercise of share options 914,587 91 Conversion to Class A ordinary shares (6,326,879 ) (633 ) Balance as of June 30, 2017 135,283,942 13,528 Exercise of share options 520,271 53 Conversion to Class A ordinary shares (5,861,707 ) (587 ) Balance as of June 30, 2018 129,942,506 $ 12,994 Ordinary shares Nominal value Ordinary shares have a nominal value of $0.10 . Conversion If the aggregate number of Class B ordinary shares comprises less than 10% of the total shares of the Company then in issue, each Class B ordinary share will automatically convert into one Class A ordinary share. Upon consent of at least 66.66% of the Class B ordinary shares, each Class B ordinary share will convert into one Class A ordinary share. A Class B ordinary shareholder may elect at any time to convert any of its Class B ordinary shares into Class A ordinary shares on a one -for-one basis. Upon a transfer of Class B ordinary shares to a person or entity that is not a permitted Class B ordinary share transferee as defined in the Company’s articles of association, each Class B ordinary share transferred converts into one Class A ordinary share. Dividend rights Any dividend declared by the Company shall be paid on the Class A ordinary shares and the Class B ordinary shares pari passu as if they were all shares of the same class. Voting rights Each Class A ordinary share is entitled to one vote. Each Class B ordinary share is entitled to 10 votes. Preference shares Upon the closing of our IPO, all then-outstanding Series A preference shares automatically converted into an aggregate of 12.4 million Class A ordinary shares and all then-outstanding Series B preference shares automatically converted into an aggregate of 15.0 million Class B ordinary shares. Restricted shares Upon the closing of our IPO, all then-outstanding restricted shares automatically converted into an aggregate of 17.2 million Class A ordinary shares. Reserves Reserves comprise the following: As of June 30, 2018 2017 2016 (U.S. $ in thousands) Reserves Share premium $ 454,766 $ 450,959 $ 441,734 Other capital reserves 557,100 437,346 244,335 Cash flow hedge reserve (3,624 ) 2,215 — Foreign currency translation reserve 4,407 4,289 4,149 Investments at fair value through other comprehensive income reserve (844 ) (258 ) 550 Total reserves $ 1,011,805 $ 894,551 $ 690,768 Amount (U.S. $ in thousands) Share premium Balance as of July 1, 2016 $ 441,734 Share options exercise 8,858 Early exercise vesting 367 Balance as of June 30, 2017 450,959 Share options exercise 3,761 Early exercise vesting 46 Balance as of June 30, 2018 $ 454,766 Amount (U.S. $ in thousands) Other capital reserves Balance as of July 1, 2016 $ 244,335 Share issuance for settlement of RSUs (451 ) Replacement equity awards related to business combination 20,193 Share-based payments 137,458 Tax benefit from share plans 35,811 Balance as of June 30, 2017 437,346 Share issuance for settlement of RSUs (525 ) Share-based payments 162,873 Tax benefit from share plans 140 Reduction in deferred tax assets (42,734 ) Balance as of June 30, 2018 $ 557,100 Amount (U.S. $ in thousands) Cash flow hedge reserve Balance as of July 1, 2016 $ — Net gain on derivative instruments 2,215 Balance as of June 30, 2017 2,215 Net loss on derivative instruments (5,839 ) Balance as of June 30, 2018 $ (3,624 ) Amount (U.S. $ in thousands) Foreign currency translation reserve Balance as of July 1, 2016 $ 4,149 Translation adjustment 140 Balance as of June 30, 2017 4,289 Translation adjustment 118 Balance as of June 30, 2018 $ 4,407 Amount (U.S. $ in thousands) Investments at fair value through other comprehensive income reserve Balance as of July 1, 2016 $ 550 Net change in unrealized gain (loss) on investments classified at fair value through other comprehensive income, net of tax (808 ) Balance as of June 30, 2017 (258 ) Net change in unrealized gain (loss) on investments classified at fair value through other comprehensive income (586 ) Balance as of June 30, 2018 $ (844 ) Share premium Share premium consists of additional consideration for shares above the nominal value of shares in issue. Other capital reserves Capital redemption and merger reserves The Company has capital redemption and merger reserves of $35.0 million at June 30, 2018 , 2017 and 2016. They are comprised of a $98.0 thousand capital redemption reserve that is a non-distributable reserve arising on the redemption of redeemable shares and a $34.9 million merger reserve representing the difference between the nominal value of the shares issued by the Company in a prior reorganization and the share capital and share premium account prior to reorganization. Share-based payments reserve Share-based payments represent the current period’s expense related to the fair value of RSUs and share options issued to employees. Tax benefits from share plans represent the deferred tax benefit of share-based payments in excess of the expense already recognized over the life of the share-based award. The total deferred tax benefit is determined using the intrinsic value of the share-based award as at the reporting date. Issuance of ordinary shares for settlement of RSUs represents the release of ordinary shares to our employees as RSUs vest. Shares withheld related to net share settlement of RSUs represents the portion of employees' RSUs that were withheld to meet their withholding tax obligations upon the IPO vesting event. This settlement option was only offered upon our IPO, and following the IPO, employees’ RSUs are sold in order to cover their tax obligations. Cash flow hedge reserve The change in fair value for the Group’s derivatives designated as hedging instruments are recognized in other comprehensive income and accumulated in a separate reserve within equity. The effect of the cash flow hedges determined to be effective is reclassified to the consolidated statements of operations in the same period as the hedged transactions. Gains or losses related to ineffective portion of cash flow hedges, if any, are recognized immediately to the consolidated statements of operations. Foreign currency translation reserve Exchange differences arising on translation of foreign subsidiaries are recognized in other comprehensive income and accumulated in a separate reserve within equity. The cumulative amount is reclassified to the consolidated statements of operations when the net investment is disposed. Investments at fair value through other comprehensive income reserve The change in fair value for the Group’s financial instruments classified at fair value through other comprehensive income are recognized in other comprehensive income and accumulated in a separate reserve within equity. The cumulative amount is reclassified to the consolidated statements of operations upon the sale of the investment or at maturity date. |
Reserves
Reserves | 12 Months Ended |
Jun. 30, 2018 | |
Share capital, reserves and other equity interest [Abstract] | |
Reserves | Shareholders’ Equity Share capital As of June 30, As of June 30, 2018 2017 2018 2017 (number of shares) (U.S. $ in thousands) Details Class A ordinary shares 105,371,800 91,979,704 $ 10,537 $ 9,198 Class B ordinary shares 129,942,506 135,283,942 12,994 13,528 235,314,306 227,263,646 $ 23,531 $ 22,726 Movements in Class A ordinary share capital Number of Amount (U.S. $ in thousands) Details Balance as of July 1, 2016 75,505,973 $ 7,550 Conversion of Class B ordinary shares 6,326,879 633 Exercise of share options 5,487,334 549 Issuance for settlement of RSUs 4,510,995 451 Vesting of share options that were early exercised 148,523 15 Balance as of June 30, 2017 91,979,704 9,198 Conversion of Class B ordinary shares 5,861,707 587 Exercise of share options 1,902,084 190 Issuance for settlement of RSUs 5,253,809 525 Vesting of share options that were early exercised 374,496 37 Balance as of June 30, 2018 105,371,800 $ 10,537 Movements in Class B ordinary share capital Number of Amount (U.S. $ in thousands) Details Balance as of July 1, 2016 140,696,234 $ 14,070 Exercise of share options 914,587 91 Conversion to Class A ordinary shares (6,326,879 ) (633 ) Balance as of June 30, 2017 135,283,942 13,528 Exercise of share options 520,271 53 Conversion to Class A ordinary shares (5,861,707 ) (587 ) Balance as of June 30, 2018 129,942,506 $ 12,994 Ordinary shares Nominal value Ordinary shares have a nominal value of $0.10 . Conversion If the aggregate number of Class B ordinary shares comprises less than 10% of the total shares of the Company then in issue, each Class B ordinary share will automatically convert into one Class A ordinary share. Upon consent of at least 66.66% of the Class B ordinary shares, each Class B ordinary share will convert into one Class A ordinary share. A Class B ordinary shareholder may elect at any time to convert any of its Class B ordinary shares into Class A ordinary shares on a one -for-one basis. Upon a transfer of Class B ordinary shares to a person or entity that is not a permitted Class B ordinary share transferee as defined in the Company’s articles of association, each Class B ordinary share transferred converts into one Class A ordinary share. Dividend rights Any dividend declared by the Company shall be paid on the Class A ordinary shares and the Class B ordinary shares pari passu as if they were all shares of the same class. Voting rights Each Class A ordinary share is entitled to one vote. Each Class B ordinary share is entitled to 10 votes. Preference shares Upon the closing of our IPO, all then-outstanding Series A preference shares automatically converted into an aggregate of 12.4 million Class A ordinary shares and all then-outstanding Series B preference shares automatically converted into an aggregate of 15.0 million Class B ordinary shares. Restricted shares Upon the closing of our IPO, all then-outstanding restricted shares automatically converted into an aggregate of 17.2 million Class A ordinary shares. Reserves Reserves comprise the following: As of June 30, 2018 2017 2016 (U.S. $ in thousands) Reserves Share premium $ 454,766 $ 450,959 $ 441,734 Other capital reserves 557,100 437,346 244,335 Cash flow hedge reserve (3,624 ) 2,215 — Foreign currency translation reserve 4,407 4,289 4,149 Investments at fair value through other comprehensive income reserve (844 ) (258 ) 550 Total reserves $ 1,011,805 $ 894,551 $ 690,768 Amount (U.S. $ in thousands) Share premium Balance as of July 1, 2016 $ 441,734 Share options exercise 8,858 Early exercise vesting 367 Balance as of June 30, 2017 450,959 Share options exercise 3,761 Early exercise vesting 46 Balance as of June 30, 2018 $ 454,766 Amount (U.S. $ in thousands) Other capital reserves Balance as of July 1, 2016 $ 244,335 Share issuance for settlement of RSUs (451 ) Replacement equity awards related to business combination 20,193 Share-based payments 137,458 Tax benefit from share plans 35,811 Balance as of June 30, 2017 437,346 Share issuance for settlement of RSUs (525 ) Share-based payments 162,873 Tax benefit from share plans 140 Reduction in deferred tax assets (42,734 ) Balance as of June 30, 2018 $ 557,100 Amount (U.S. $ in thousands) Cash flow hedge reserve Balance as of July 1, 2016 $ — Net gain on derivative instruments 2,215 Balance as of June 30, 2017 2,215 Net loss on derivative instruments (5,839 ) Balance as of June 30, 2018 $ (3,624 ) Amount (U.S. $ in thousands) Foreign currency translation reserve Balance as of July 1, 2016 $ 4,149 Translation adjustment 140 Balance as of June 30, 2017 4,289 Translation adjustment 118 Balance as of June 30, 2018 $ 4,407 Amount (U.S. $ in thousands) Investments at fair value through other comprehensive income reserve Balance as of July 1, 2016 $ 550 Net change in unrealized gain (loss) on investments classified at fair value through other comprehensive income, net of tax (808 ) Balance as of June 30, 2017 (258 ) Net change in unrealized gain (loss) on investments classified at fair value through other comprehensive income (586 ) Balance as of June 30, 2018 $ (844 ) Share premium Share premium consists of additional consideration for shares above the nominal value of shares in issue. Other capital reserves Capital redemption and merger reserves The Company has capital redemption and merger reserves of $35.0 million at June 30, 2018 , 2017 and 2016. They are comprised of a $98.0 thousand capital redemption reserve that is a non-distributable reserve arising on the redemption of redeemable shares and a $34.9 million merger reserve representing the difference between the nominal value of the shares issued by the Company in a prior reorganization and the share capital and share premium account prior to reorganization. Share-based payments reserve Share-based payments represent the current period’s expense related to the fair value of RSUs and share options issued to employees. Tax benefits from share plans represent the deferred tax benefit of share-based payments in excess of the expense already recognized over the life of the share-based award. The total deferred tax benefit is determined using the intrinsic value of the share-based award as at the reporting date. Issuance of ordinary shares for settlement of RSUs represents the release of ordinary shares to our employees as RSUs vest. Shares withheld related to net share settlement of RSUs represents the portion of employees' RSUs that were withheld to meet their withholding tax obligations upon the IPO vesting event. This settlement option was only offered upon our IPO, and following the IPO, employees’ RSUs are sold in order to cover their tax obligations. Cash flow hedge reserve The change in fair value for the Group’s derivatives designated as hedging instruments are recognized in other comprehensive income and accumulated in a separate reserve within equity. The effect of the cash flow hedges determined to be effective is reclassified to the consolidated statements of operations in the same period as the hedged transactions. Gains or losses related to ineffective portion of cash flow hedges, if any, are recognized immediately to the consolidated statements of operations. Foreign currency translation reserve Exchange differences arising on translation of foreign subsidiaries are recognized in other comprehensive income and accumulated in a separate reserve within equity. The cumulative amount is reclassified to the consolidated statements of operations when the net investment is disposed. Investments at fair value through other comprehensive income reserve The change in fair value for the Group’s financial instruments classified at fair value through other comprehensive income are recognized in other comprehensive income and accumulated in a separate reserve within equity. The cumulative amount is reclassified to the consolidated statements of operations upon the sale of the investment or at maturity date. |
Earnings Per Share
Earnings Per Share | 12 Months Ended |
Jun. 30, 2018 | |
Earnings per share [abstract] | |
Earnings Per Share | Earnings Per Share Basic earnings per share is computed by dividing the net income attributable to ordinary shareholders by the weighted-average number of ordinary shares outstanding during the period. Diluted earnings per share is computed by giving effect to all potential weighted-average dilutive shares. The dilutive effect of outstanding awards is reflected in diluted earnings per share by application of the treasury stock method. Upon the closing of our IPO, all then-outstanding Series A preference shares automatically converted into 12.4 million Class A ordinary shares, all then-outstanding restricted shares automatically converted into 17.2 million Class A ordinary shares and all then-outstanding Series B preference shares automatically converted into an aggregate of 15.0 million Class B ordinary shares. Prior to the IPO in fiscal year 2016, basic and diluted net income per share attributable to ordinary shareholders was presented in conformity with the two-class method required for participating shares. The Group considered its then outstanding Series A preference shares and Series B preference shares to be participating securities. The rights of the holders of Class A ordinary shares and Class B ordinary shares are identical, except with respect to voting, conversion and transfer rights. Under the two-class method, net income attributable to ordinary shareholders is determined by allocating undistributed earnings, calculated as net income less current period dividends paid to preference shares, between ordinary shares and preference shares based on their respective dividend allocations. A reconciliation of the calculation of basic and diluted earnings (loss) per share is as follows: Fiscal Year Ended June 30, 2018 2017 2016 (U.S. $ in thousands, except per share data) Numerator: Net income (loss) $ (119,341 ) $ (42,504 ) $ 4,373 Less: Allocation of earnings to preference shares—basic — — (274 ) Net income (loss) attributable to ordinary shareholders—basic (119,341 ) (42,504 ) 4,099 Add: Reallocation of earnings to ordinary shares — — 14 Net income (loss) attributable to ordinary shareholders—diluted $ (119,341 ) $ (42,504 ) $ 4,113 Denominator: Weighted-average ordinary shares outstanding—basic 231,184 222,224 182,773 Effect of potentially dilutive shares: Share options and RSUs — — 10,708 Weighted-average ordinary shares outstanding—diluted 231,184 222,224 193,481 Net income (loss) per share attributable to ordinary shareholders: Basic net income (loss) per share $ (0.52 ) $ (0.19 ) $ 0.02 Diluted net income (loss) per share $ (0.52 ) $ (0.19 ) $ 0.02 For fiscal years ended June 30, 2018 and June 30, 2017, 12.8 million and 13.8 million , respectively of potentially anti-dilutive shares were excluded from the computation of net loss per share. |
Commitments
Commitments | 12 Months Ended |
Jun. 30, 2018 | |
Disclosure of commitments [Abstract] | |
Commitments | Commitments The Group leases various offices in locations such as Amsterdam, the Netherlands; the San Francisco Bay Area, California, New York, New York, and Austin, Texas, United States; Sydney, Australia; Manila, the Philippines; Bengaluru, India; and Yokohama, Japan under non-cancellable operating leases expiring within one to eleven years. The leases have varying terms, escalation clauses and renewal rights. On renewal, the terms of the leases are renegotiated. The Group incurred rent expense on its operating leases of $23.6 million , $12.2 million , and $8.3 million during the fiscal years ended June 30, 2018 , 2017 and 2016 , respectively. Additionally, the Group has a contractual commitment for services with a third-party related to its data centers. These commitments are non-cancellable and expire within one year. Commitments for minimum lease payments in relation to non-cancellable operating leases and purchase obligations in relation to our colocation data centers as of June 30, 2018 were as follows: Operating Other Total (U.S. $ in thousands) Fiscal Period: Year ending 2019 $ 32,530 $ 25,753 $ 58,283 Years ending 2020 - 2023 132,543 — 132,543 Thereafter 163,112 — 163,112 Total commitments $ 328,185 $ 25,753 $ 353,938 |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Jun. 30, 2018 | |
Related party transactions [abstract] | |
Related Party Transactions | Related Party Transactions Key management personnel compensation All directors and executive management have authority and responsibility for planning, directing and controlling the activities of the Group, and are considered to be key management personnel. Compensation for the Company's key management personnel is as follows: Fiscal Year Ended June 30, 2018 2017 2016 (U.S. $ in thousands) Executive management Short-term compensation and benefits $ 2,991 $ 2,860 $ 3,365 Post-employment benefits 99 100 96 Share-based payments 9,335 26,030 15,985 $ 12,425 $ 28,990 $ 19,446 Board of directors Cash remuneration $ 362 $ 388 $ 241 Share-based payments 1,577 1,825 1,482 $ 1,939 $ 2,213 $ 1,723 |
Geographic Information
Geographic Information | 12 Months Ended |
Jun. 30, 2018 | |
Disclosure of geographical areas [abstract] | |
Geographic Information | Geographic Information The Group’s revenues by geographic region based on end-users who purchased our products or services are as follows: Fiscal Year Ended June 30, 2018 2017 2016 (U.S. $ in thousands) Americas $ 435,471 $ 312,514 $ 232,793 EMEA 346,362 242,496 178,087 Asia Pacific 92,117 64,926 46,178 $ 873,950 $ 619,936 $ 457,058 Revenues from the United States totaled approximately $381 million , $276 million , and $206 million for the fiscal years ended June 30, 2018 , 2017 , and 2016 , respectively. Revenues from our country of domicile, the United Kingdom, totaled approximately $63 million , $46 million , and $34 million for the fiscal years ended June 30, 2018 , 2017 , and 2016 , respectively. Fiscal Year Ended June 30, 2018 2017 (U.S. $ in thousands) Non-current operating assets United States $ 411,188 $ 449,504 Australia 16,692 20,988 $ 427,880 $ 470,492 Non-current operating assets for this purpose consist of property and equipment, goodwill, intangible assets and other non-current assets. |
Share-based Payments
Share-based Payments | 12 Months Ended |
Jun. 30, 2018 | |
Disclosure of share-based payment arrangements [Abstract] | |
Share-based Payments | Share-based Payments The Group maintains four share-based employee compensation plans: the 2015 Share Incentive Plan (“2015 Plan”); the 2014 Restricted Share Unit Plan (“2014 Plan”); the Atlassian Corporation Plc 2013 U.S. Share Option Plan (“2013 U.S. Option Plan”); and the Atlassian UK Employee Share Option Plan (together with the 2013 U.S. Option Plan, the “Option Plans”). In October 2015, the Board of Directors approved the 2015 Plan, and in November 2015, our shareholders adopted the 2015 Plan, effective on our IPO, which serves as the successor to the 2014 Plan and the Option Plans and provides for the issuance of incentive and nonstatutory share options, share appreciation rights, restricted share awards, RSUs, unrestricted share awards, cash-based awards, performance share awards, performance-based awards to covered employees, and dividend equivalent rights to qualified employees, directors and consultants. Under the 2015 Plan, a total of 20.7 million Class A ordinary shares were initially reserved for the issuance of awards, subject to automatic annual increases. RSU grants generally vest 25% on the one year anniversary and 1/12 th of the remaining RSUs vest over the remaining three years, on a quarterly basis thereafter. Individuals must continue to provide services to a Group entity in order to vest. Prior to our IPO, RSUs issued under the 2014 Plan required the satisfaction of a time-based service condition as well as a liquidity condition, defined as a sale or listing of the Company. The liquidity condition was satisfied upon our IPO. Following our IPO, participants of the 2015 Plan and 2014 Plan must only continue to provide services to a Group entity over the time-based service period to be entitled to the Class A ordinary shares underlying the RSUs. Although no future awards will be granted under the 2014 Plan, it will continue to govern outstanding awards granted thereunder. The Option Plans allowed for the issuance of options to purchase restricted shares. Effective upon our IPO, all restricted shares automatically converted to Class A ordinary shares and under the Option Plans, the shares underlying the options converted to Class A ordinary shares. Although no future awards will be granted under the Option Plans, they will continue to govern outstanding awards granted thereunder. Under the Option Plans, share options have a contractual life of seven to ten years and typically follow a standard vesting schedule over a 4 year period: 25% vest on the one year anniversary and 1/48th monthly vesting for the 36 months thereafter. Individuals must continue to provide services to a Group entity in order to vest. Upon termination, all unvested options are forfeited and vested options must generally be exercised within three months. RSU and Class A ordinary share option activity was as follows: Share Options Shares Outstanding Weighted RSUs Outstanding Balance as of July 1, 2016 17,529,216 9,311,825 $ 2.04 12,204,353 Increase in shares authorized: 2015 Plan 10,817,923 — — — RSUs granted (5,938,291 ) — — 5,938,291 RSUs canceled 1,214,176 — — (1,214,176 ) RSUs settled — — — (4,510,995 ) Replacement share options granted (980,573 ) 980,573 0.72 — Share options exercised — (5,487,334 ) 1.64 — Share options canceled 162,403 (162,403 ) 2.70 — Equity awards granted in relation to business combination (1,225,691 ) — — — Repurchase of early exercised options 18,750 — — — Balance as of June 30, 2017 21,597,913 4,642,661 $ 2.21 12,417,473 Increase in shares authorized: 2015 Plan 11,423,916 — — — RSUs granted (4,390,298 ) — — 4,390,298 RSUs canceled 1,951,289 — — (1,951,289 ) RSUs settled — — — (5,253,809 ) Share options exercised — (1,902,084 ) 1.93 — Share options canceled 17,395 (17,395 ) 1.45 — Balance as of June 30, 2018 30,600,215 2,723,182 2.41 9,602,673 Share options vested and exercisable as of June 30, 2017 — 3,074,737 $ 2.31 Share options vested and exercisable as of June 30, 2018 — 1,983,464 $ 2.50 The 2014 Plan and the Option Plans were terminated in connection with our IPO, and accordingly, no shares are available for issuance under these plans. The weighted-average remaining contractual life for options outstanding as of June 30, 2018 and June 30, 2017 was 4.1 years and 4.7 years, respectively. Options exercisable as of June 30, 2018 and June 30, 2017 , had a weighted-average remaining contractual life of approximately 3.3 years and 3.6 years, respectively. The following table summarizes information about share options outstanding as of June 30, 2018 : Options Outstanding Options Exercisable Range of Number Weighted- Number Weighted- Weighted- $0.59 - 0.66 385,963 $ 0.63 162,945 $ 0.61 6.01 $1.14 - 1.59 212,391 1.35 123,296 1.50 2.07 $1.92 - 2.16 166,967 2.06 166,967 2.06 1.39 $2.40 - 2.92 740,363 2.46 740,363 2.46 1.86 $3.18 1,217,498 3.18 789,893 3.18 4.75 2,723,182 $ 2.41 1,983,464 $ 2.50 3.32 The following table summarizes information about share options outstanding as of June 30, 2017: Options Outstanding Options Exercisable Range of Number Weighted- Number Weighted- Weighted- $0.42 - 0.66 947,459 $ 0.61 354,112 $ 0.60 3.07 $1.14 - 1.59 405,667 1.36 260,611 1.47 2.72 $1.92 - 2.16 340,783 2.05 340,783 2.05 2.38 $2.40 - 2.92 1,310,942 2.46 1,302,133 2.45 2.86 $3.18 1,637,810 3.18 817,098 3.18 5.41 4,642,661 $ 2.21 3,074,737 $ 2.31 3.50 Class B ordinary share option activity was as follows: Shares Outstanding Weighted- Balance as of July 1, 2016 — 1,434,858 $ 0.56 Exercised — (914,587 ) $ 0.55 Balance as of June 30, 2017 — 520,271 $ 0.63 Exercised — (520,271 ) $ 0.61 Balance as of June 30, 2018 — — $ — There were no Class B ordinary share options available for exercise as of June 30, 2018 . Class B ordinary share options exercisable as of June 30, 2017 had a weighted-average remaining contractual life of approximately 0.9 years . Class B ordinary share options are denominated in Australian dollars. The following table summarizes information about the Class B ordinary share options outstanding as of June 30, 2017: Options Outstanding Options Exercisable Exercise Prices Number Weighted- Number Weighted- Weighted- $0.63 520,271 $ 0.63 520,271 $ 0.63 0.92 All share-based payments are measured based on the grant date fair value of the awards and recognized in the consolidated statements of operations over the period during which the employee is required to perform services in exchange for the award (generally the four -year vesting period of the award). Prior to the IPO, the Group enlisted the assistance of a third-party valuation firm in order to perform the valuation of RSUs using assumptions provided by management. As discussed above, prior to the effectiveness of the IPO, the Group’s RSUs contained a non-time based vesting condition. Pursuant to IFRS 2, Share-based payment , the fair value of RSUs granted prior to the IPO were reduced to reflect the impact of this non-time based vesting condition. The weighted-average grant date fair value of the RSUs issued during the fiscal years ended June 30, 2018 and 2017 was $41.70 per share and $29.16 per share, respectively. There were no share options granted during the fiscal year ended June 30, 2018 . The Company granted 980,573 replacement share options exercisable for Class A ordinary shares with a weighted-average exercise price of $0.72 per share in connection with the Group’s acquisition of Trello during the fiscal year ended June 30, 2017 . The fair value of the share option grants were estimated on the date of grant using the Black-Scholes option pricing model with the following assumptions and fair value per share: Fiscal Year Ended June 30, 2018 2017 2016 Fair value of underlying shares n/a $28.16 n/a Exercise price n/a $0.59 - 1.14 n/a Expected volatility n/a 41% n/a Expected term (in years) n/a 4.5 - 6.0 n/a Risk-free interest rate n/a 1.9% n/a Dividend yield n/a —% n/a Weighted-average fair value per share option n/a $27.51 n/a The exercise price of share options is established on the grant date and is determined by the board of directors. The Company refers to the closing stock price on the grant date to determine the fair value of Class A ordinary shares underlying share options. The Company estimates expected future volatility based on the historical volatility of the Company’s stock price. The estimated term for share options was based on the vesting terms and contractual lives of the options as well as expectations around employee vesting behavior. The risk-free interest rate is based on the rate for a U.S. government security with the same estimated life at the time of the option grant. As of June 30, 2018 , the Group had an aggregate of $133.2 million of future period share-based payment expense related to all equity awards outstanding, net of estimated forfeitures, to be amortized over a weighted-average period of 1.4 years . Early exercises of share options As of June 30, 2018 and 2017 , outstanding shares included 827,871 and 1,214,689 shares, respectively, that are subject to repurchase as they were early exercised and unvested. The Company retains the right to repurchase, at the original exercise price, any unvested (but issued) shares during the repurchase period following employee termination. These amounts have been recorded on the consolidated statements of financial position as a liability as of June 30, 2018 and 2017 . Amounts reclassified into contributed equity during the fiscal years ended June 30, 2018 and 2017 as a result of the vesting of the early exercised shares was $0.1 million and $0.4 million , respectively. |
Summary of Significant Accoun28
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Jun. 30, 2018 | |
Significant Accounting Policies [Abstract] | |
Statement of IFRS compliance | The consolidated financial statements of the Group have been prepared in accordance with International Financial Reporting Standards (“IFRS”), which includes all standards issued by the International Accounting Standards Board (“IASB”) and related interpretations issued by the IFRS Interpretations Committee. |
Explanation of measurement bases used in preparing financial statements | The consolidated financial statements have been prepared on a historical cost basis, except for financial assets and liabilities that have been measured at amortized cost, fair value through other comprehensive income or profit or loss. |
Functional currency | All amounts included in the consolidated financial statements are reported in thousands of U.S. dollars (U.S. $ in thousands) except where otherwise stated. Due to rounding, numbers presented throughout this document may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures. |
Segment reporting | The Group operates as a single cash-generating unit (“CGU”) and as a single operating segment, which is also its reporting segment. An operating segment is defined as a component of an entity for which discrete financial information is available and whose operating results are regularly reviewed by the chief operating decision maker. The Group's chief operating decision makers are the Group's Co-Chief Executive Officers, who review operating results to make decisions about allocating resources and assessing performance based on consolidated financial information. Accordingly, the Group has determined it operates in one operating segment. |
Principles of consolidation | Principles of consolidation The consolidated financial statements incorporate the assets and liabilities and the results of operations of the Group. Control is achieved when the Group is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. The financial statements of the subsidiaries are prepared for the same reporting period as the Company, using consistent accounting policies. Intercompany transactions, balances and unrealized gains on transactions between Group companies are eliminated. |
Foreign currency translation | Foreign currency translation The Group's consolidated financial statements are presented using the U.S. dollar, which is the Company's functional currency. The Group determines the functional currency for each entity in accordance with International Accounting Standard (“IAS”) 21, The Effects of Changes in Foreign Exchange Rates, based on the currency of the primary economic environment in which each subsidiary operates, and items included in the financial statements of such entity are measured using that functional currency. Transactions and balances Transactions in foreign currencies are initially recorded by the Group entities at their respective functional currency spot rates at the date the transaction first qualifies for recognition. Monetary assets and liabilities denominated in foreign currencies are translated at the functional currency spot rate of exchange at each reporting date. All differences arising on settlement or translation of monetary items are recorded in other non-operating income (expense), net on the consolidated statements of operations, with the exception of monetary items that are designated as part of the Group's net investment in foreign operations. These differences on translation of the foreign operations account are recognized in other comprehensive income until the net investment is disposed. Certain non-monetary items, such as property and equipment, which are measured at historical cost in a foreign currency, are translated using the exchange rates as of the dates of the initial transactions. Certain non-monetary items initially measured at fair value in a foreign currency, such as intangible assets, are translated using the exchange rates as of the date when the fair value is determined. The gain or loss arising on translation of non-monetary items measured at fair value is treated in line with the recognition of the gain or loss on the change in fair value of the item (i.e., translation differences on items whose fair value gain or loss is recognized in other comprehensive income (or profit or loss are also recognized in other comprehensive income or profit or loss, respectively). Group companies Upon consolidation, assets and liabilities of foreign operations are translated into U.S. dollars at the rate of exchange prevailing at the reporting date and their income statements are translated at average exchange rates. The exchange differences arising on translation for consolidation are recognized in other comprehensive income. Any goodwill arising on the acquisition of a foreign operation and any fair value adjustments to the carrying amounts of assets and liabilities arising on the acquisition are treated as assets and liabilities of the foreign operation and translated at the spot rate of exchange at each reporting date. |
Revenue recognition | Revenue recognition The Group primarily derives revenues from subscription, maintenance, perpetual license, and training and other services. Revenue is recognized in line with the requirements as stated in IAS 18, Revenue , when evidence of an arrangement exists, delivery has occurred, the risks and rewards of ownership have been transferred to the customer, the amount of revenue and associated costs can be measured reliably, and collection of the related receivable is probable. In the absence of industry-specific software revenue recognition guidance under IFRS, the Group refers to GAAP when establishing policies related to revenue recognition. The Group's revenue recognition policy considers the guidance provided by the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Subtopic 985-605, Software Revenue Recognition , and FASB ASC Subtopic 605-25, Multiple-Element Arrangements , where applicable, as authorized by IAS 8, Accounting Policies, Changes in Accounting Estimates and Errors . If, at the outset of an arrangement, revenue cannot be measured reliably, revenue recognition is deferred until the arrangement fee becomes due and payable by the customer. Additionally, if, at the outset of an arrangement, it is determined that collectability is not probable, revenue recognition is deferred until the earlier of when collectability becomes probable or payment is received. The Group enters into arrangements directly with end users as well as indirectly through value-added resellers (e.g., “channel partners”). Revenue recognition for indirect customers is the same as for direct customers as the terms of sale are substantially the same. Subscription revenue Subscription revenue represents fees earned from subscription-based arrangements for: (1) cloud-based services for providing customers the right to use software in a cloud-based-infrastructure provided by the Group, where the customer does not have the right to terminate the hosting contract and take possession of the software without significant penalty; and (2) software licensed for a specified period, in which fees for support and maintenance are bundled with the license fee over the entire term of the license period. Subscription-based arrangements generally have a contractual term of one to twelve months. Subscription revenue is recognized ratably as the services are performed, commencing with the date the service is made available to customers and all other revenue recognition criteria have been satisfied. Maintenance revenue Maintenance revenue represents fees earned from providing customers unspecified future updates, upgrades and enhancements and technical product support for perpetual license products on an if and when available basis. The first year of maintenance is purchased concurrently with the purchase of perpetual licenses, and subsequent renewals extend for an additional year in most cases. Maintenance services are priced as a percentage of the total product sale, and a substantial majority of customers elect to renew software support contracts annually at standard list maintenance renewal pricing. Maintenance revenue is recognized ratably over the term of the support period. Perpetual license revenue Perpetual license revenue represents fees earned from the license of software to customers for use on the customer's premises. Software is licensed on a perpetual basis, subject to a standard licensing agreement. The Group recognizes revenue on the license portion of perpetual license arrangements on the date of product delivery in substantially all situations. Other revenue Other revenues include fees received for sales of third-party apps in the Group's online marketplace, Atlassian Marketplace, and for training services. Revenue from the sale of third-party vendor products via Atlassian Marketplace is recognized net of the vendor liability portion as the Group functions as an agent in the relationship. The Group's revenue portion is recognized on the date of product delivery given that the Group has no future obligations. Revenue from training is recognized as delivered or as the rights to receive training expire. Multiple-element arrangements Many of the Group's arrangements include purchases of both software related products and services. For these software related multiple-element arrangements, the Group applies the residual method to determine the amount of software license revenue to be recognized. The Group first allocates fair value to elements of a software related multiple-element arrangement based on its fair value as determined by vendor specific objective evidence (“VSOE”), with any remaining amount allocated to the software license. The Group determines VSOE based on its historical pricing for a specific product or service when sold separately and when a substantial majority of the selling prices for these services fall within a narrow range. Cloud-based arrangements may be purchased alongside other services that are intended to be used with the cloud offering. Such arrangements are considered to be non-software multiple-element arrangements. The Group accordingly allocates revenue to each element considered to be a separate unit of accounting using the relative selling prices of each unit. The relative selling price for each element is based upon the following selling price hierarchy: VSOE if available, third-party evidence (“TPE”) if VSOE is not available, or estimated selling price if neither VSOE nor TPE are available. Historically, the Group has established VSOE for all non-software elements using the same methodology applied to software-related elements, as a substantial majority of the selling prices for these elements fall within a narrow range when sold separately. If the Group enters into an arrangement with both software and non-software deliverables, the Group will first allocate the total arrangement consideration based on the relative selling prices of the software group of elements as a whole and the non-software elements. The Group then further allocates consideration within the software group in accordance with the residual method described above. The revenue amount allocated to each element is recognized when the revenue recognition criteria described above have been met for the respective element. |
Taxation | Taxation Current tax Current income tax assets and/or liabilities comprise amounts expected to be recovered or paid to Her Majesty's Revenue & Customs, the Australian Taxation Office, the United States Internal Revenue Service and other fiscal authorities relating to the current or prior reporting periods, which are unpaid at each reporting date. Current tax is payable on taxable income that differs from the consolidated statements of operations in the financial statements due to permanent and temporary timing differences. The calculation of current tax is based on tax rates and tax laws that have been enacted or substantively enacted by the end of the reporting period. Deferred tax The Group uses the liability method of accounting for income taxes. Deferred income tax assets and liabilities represent temporary differences between the carrying amounts of assets and liabilities in the consolidated financial statements and their corresponding tax basis used in the computation of taxable income. Deferred tax however is not recognized on the initial recognition of goodwill, or the initial recognition of an asset or liability (other than in a business combination) in a transaction that affects neither tax nor accounting income. Deferred tax liabilities are recognized for taxable temporary differences associated with investments in subsidiaries and associates, except where the Group is able to control the reversal of the temporary differences and it is probable that the temporary difference will not reverse in the foreseeable future. Deferred tax liabilities are generally provided for in full. Deferred tax assets are recognized to the extent that they are expected to reverse in the foreseeable future and it is probable that they will be able to be utilized against future taxable income, based on the Group's forecast of future operating results. Deferred tax assets are adjusted for significant non-taxable income, expenses and specific limits on the use of any unused tax loss or credit. Unrecognized deferred income tax assets are reassessed at each reporting date and are recognized to the extent that it has become probable that future taxable income will allow the deferred tax asset to be recovered. Deferred tax assets and liabilities are calculated, without discounting, at tax rates and in accordance with laws that are expected to apply to their respective period of realization, provided the tax rates and laws are enacted or substantively enacted by the end of the reporting period. The carrying amount of deferred tax assets are reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable income will be available to allow all or part of the deferred tax asset to be utilized. Deferred tax liabilities and assets are offset when there is a legally enforceable right to offset current tax assets against current tax liabilities and when they relate to income taxes levied by the same taxation authority and the Group intends to settle its current tax assets and liabilities on a net basis. Changes in deferred tax assets or liabilities are recognized as a component of tax expense (benefit) in the consolidated statements of operations, except where they relate to items that are recognized in other comprehensive income or directly in equity, in which case the related deferred tax is also recognized in other comprehensive income or equity, respectively. Where deferred tax arises from the initial accounting for a business combination, the tax effect is included in the accounting for the business combination. |
Deferred tax | Deferred tax The Group uses the liability method of accounting for income taxes. Deferred income tax assets and liabilities represent temporary differences between the carrying amounts of assets and liabilities in the consolidated financial statements and their corresponding tax basis used in the computation of taxable income. Deferred tax however is not recognized on the initial recognition of goodwill, or the initial recognition of an asset or liability (other than in a business combination) in a transaction that affects neither tax nor accounting income. Deferred tax liabilities are recognized for taxable temporary differences associated with investments in subsidiaries and associates, except where the Group is able to control the reversal of the temporary differences and it is probable that the temporary difference will not reverse in the foreseeable future. Deferred tax liabilities are generally provided for in full. Deferred tax assets are recognized to the extent that they are expected to reverse in the foreseeable future and it is probable that they will be able to be utilized against future taxable income, based on the Group's forecast of future operating results. Deferred tax assets are adjusted for significant non-taxable income, expenses and specific limits on the use of any unused tax loss or credit. Unrecognized deferred income tax assets are reassessed at each reporting date and are recognized to the extent that it has become probable that future taxable income will allow the deferred tax asset to be recovered. Deferred tax assets and liabilities are calculated, without discounting, at tax rates and in accordance with laws that are expected to apply to their respective period of realization, provided the tax rates and laws are enacted or substantively enacted by the end of the reporting period. The carrying amount of deferred tax assets are reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable income will be available to allow all or part of the deferred tax asset to be utilized. Deferred tax liabilities and assets are offset when there is a legally enforceable right to offset current tax assets against current tax liabilities and when they relate to income taxes levied by the same taxation authority and the Group intends to settle its current tax assets and liabilities on a net basis. Changes in deferred tax assets or liabilities are recognized as a component of tax expense (benefit) in the consolidated statements of operations, except where they relate to items that are recognized in other comprehensive income or directly in equity, in which case the related deferred tax is also recognized in other comprehensive income or equity, respectively. Where deferred tax arises from the initial accounting for a business combination, the tax effect is included in the accounting for the business combination. |
Share-based payments | Share-based payments Employees of the Group receive, in part, remuneration for services rendered in the form of share-based payments, which are considered equity-settled transactions. The cost of equity-settled transactions is recognized, together with a corresponding increase in equity, over the period in which the performance or service conditions are fulfilled. The cumulative expense recognized for equity-settled transactions at each reporting date until the vesting date reflects the extent to which the vesting period has expired and the Company's best estimate of the number of equity instruments that will ultimately vest. The share-based payment expense for each reporting period reflects the movement in cumulative expense recognized at the beginning and end of that period. The Group follows the accelerated method of expense recognition for share-based awards, as the awards vest in tranches over the vesting period. The estimation of share awards that will ultimately vest requires judgment, and to the extent actual results or updated estimates differ from current estimates, such amounts will be recorded as a cumulative adjustment in the period the estimates are revised. Actual results, and future changes in estimates, may differ substantially from current estimates. If an equity-settled award is cancelled, it is treated as if it had forfeited on the date of cancellation, and any expense previously recognized for unvested shares is immediately reversed. |
Leases | Leases The determination of whether an arrangement is or contains a lease is based on the substance of the arrangement at the inception date, whether fulfillment of the arrangement is dependent on the use of a specific asset or assets or the arrangement conveys a right to use the asset, even if that right is not explicitly specified in an arrangement. Leases in which a significant portion of the risks and rewards of ownership are not transferred to the Group as lessee are classified as operating leases. Expenses incurred in operating leases (net of any incentives received from the lessor) are recognized on a straight-line basis over the term of the lease. Operating lease incentives are recognized as a liability when received and subsequently reduced by allocating lease payments between rental expense and a reduction of the liability. |
Business combinations | Business combinations Business combinations are accounted for using the acquisition method at the acquisition date, which is the date on which control is transferred. The cost of an acquisition is measured as the aggregate of the consideration transferred, measured at the acquisition date fair value and the amount of any non-controlling interest in the acquiree. Settlements of pre-existing relationships are not included in the consideration transferred and are recognized in the consolidated statements of operations. Identifiable assets acquired and liabilities assumed in a business combination are measured at their fair values at the acquisition date. Upon acquisition, the Group recognizes any non-controlling interests in the acquiree either at fair value or at the proportionate share of the acquiree's identifiable net assets. Acquisition-related costs are expensed as incurred and included in general and administrative expenses. Where settlement of any part of cash consideration is deferred, the amounts payable in the future are discounted to their present value at the date of exchange. |
Goodwill | Goodwill Goodwill is initially measured at cost, which is the excess of the aggregate of the consideration transferred and the amount recognized for the non-controlling interest over the net identifiable assets acquired and liabilities assumed. If this consideration is lower than the fair value of the net of these assets acquired and liabilities assumed, the difference is recognized in the consolidated statements of operations. After initial recognition, goodwill is measured at cost, less any accumulated impairment losses. For the purpose of impairment testing, goodwill acquired in a business combination is, from the acquisition date, allocated to the Group's CGU that is expected to benefit from the combination, regardless of whether other assets or liabilities of the acquiree are assigned to those units. |
Cash and cash equivalents | Cash and cash equivalents Cash and cash equivalents in the consolidated statements of financial position comprise cash at banks, short-term deposits and low-risk, highly liquid investments with original maturities of three months or less when initially recorded. Cash equivalents also include amounts due from third-party credit card processors as they are both short-term and highly liquid in nature and are typically converted to cash within three days of the sales transaction. |
Current versus non-current classification | Current versus non-current classification The Group presents assets and liabilities in the consolidated statements of financial position based on current or non-current classification. An asset is current when it is: expected to be realized within twelve months after the reporting period; or cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period. All other assets are classified as non-current. A liability is current when it is due to be settled within twelve months after the reporting period. The Group classifies all other liabilities as non-current. |
Trade receivables | Trade receivables Trade receivables are initially recognized at fair value, less a provision for impairment. Trade receivables are unsecured and substantially all are due for settlement within 30 days of recognition. They are presented as current assets unless collection is not expected for more than 12 months after the reporting date. Collectability of trade receivables is reviewed on an ongoing basis. Debts that are known to be uncollectible are written off by reducing the carrying amount directly. The amount of the impairment loss is recognized within general and administrative expense. When a trade receivable for which an impairment allowance had been recognized becomes uncollectible in a subsequent period, it is written off against an allowance account. Subsequent recoveries of amounts previously written off are credited against other expenses in the consolidated statements of operations. |
Financial assets | Financial assets Classification The Group classifies its financial assets in the following categories: amortized cost, fair value through other comprehensive income and fair value through profit or loss. The Group determines the classification of its financial assets at initial recognition with the classification dependent on the business model for managing the financial assets and the contractual cash flow characteristics of the assets. Management evaluates the business model for managing its financial assets at the end of each reporting period. Recognition and derecognition Purchases and sales of financial assets are recognized on the date on which the Group commits to purchase or sell the asset. Financial assets are derecognized when the rights to receive cash flows from the financial assets have expired or have been transferred and the Group has transferred substantially all the risks and rewards of ownership. Fair value changes that have been recognized in other comprehensive income are recycled to profit or loss upon sale of the financial asset. Measurement At initial recognition, for financial assets not at fair value through profit or loss, the Group measures the assets at its purchase price plus transaction costs that are directly attributable to the acquisition of the financial asset. Transaction costs of financial assets carried at fair value through profit or loss are expensed in the consolidated statements of operations. Subsequently, financial assets are carried at fair value or amortized cost less impairment. Financial assets classified at amortized cost are measured using the effective interest method. Impairment The Group measures loss allowances on its financial assets at an amount equal to lifetime expected credit losses (“ECLs”), except for securities that are determined to have low credit risk at the reporting date and other securities and bank balances for which credit risk has not increased significantly since initial recognition, which are measured as 12-month ECLs. Lifetime ECLs are the ECLs that result from all possible default events over the expected life of a financial instrument. 12-month ECLs are the portion of ECLs that result from default events that are possible within the 12 months following the reporting date. Loss allowances for financial assets measured at amortized cost are deducted from the gross carrying amount of the assets. For debt securities measured at fair value through other comprehensive income, the loss allowance is charged to profit or loss and is recognized in other comprehensive income. ECLS are a probability-weighted estimate of the difference in the present value of contractual cash flows and the present value of cash flows that the Group expects to receive. The changes in the loss allowance balance are recognized as an impairment loss in the consolidated statements of operations. If, in a subsequent period, the amount of the impairment loss decreases and the decrease can be related objectively to an event occurring after the impairment was recognized, the reversal of the previously recognized impairment loss is recorded in the consolidated statements of operations. |
Fair value estimation | Fair value estimation The fair value of financial assets and financial liabilities are estimated for recognition and measurement or for disclosure purposes. The fair value of financial instruments traded in active markets is based on quoted market prices as of the consolidated statements of financial position date. The quoted market price used for financial assets held by the Group is the current bid price. The fair value of financial instruments that are not traded in an active market is determined using valuation techniques. The Group uses a variety of methods and makes assumptions that are based on market conditions existing as of the consolidated statements of financial position date. Other techniques, such as estimated discounted cash flows, are used to determine fair value for the remaining financial instruments. The carrying value, less any impairment provision of trade receivables and payables, is assumed to approximate the fair value due to their short-term nature. The fair value of financial liabilities for disclosure purposes is estimated by discounting the future contractual cash flows at the current market interest rate that is available to the Group for similar financial instruments. |
Property and equipment | Property and equipment Property and equipment are stated at cost, net of accumulated depreciation. Historical cost includes expenditures directly attributable to the acquisition of the assets. Subsequent costs are included in the asset's carrying amount or recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Group and the cost of the item can be measured reliably. The carrying amount of any component accounted for as a separate asset is derecognized when replaced. All other repairs and maintenance are expensed as incurred. Depreciation is calculated using the straight-line method to allocate the cost over the estimated useful lives or, in the case of leasehold improvements and certain leased equipment, the remaining lease term if shorter. The estimated useful lives for each asset class are as follows: Equipment 3 - 5 years Computer hardware and computer-related software 3 - 5 years Furniture and fittings 5 - 10 years Leasehold improvements Shorter of the remaining lease term or 7 years |
Research and development | Research and development Research and development includes the employee and hardware costs incurred for the development of new products, enhancements and updates of existing products and quality assurance activities. These costs incurred internally for the development of computer software are capitalized only when technological feasibility has been established for the solution. To establish technological feasibility, the Group must demonstrate it intends to complete development and the solution will be available for sale or internal use, it is probable the solution will generate future economic benefits, and the Group has the ability to reliably measure the expenditure attributable to the solution during its development. The Company has not capitalized any research and development costs. |
Intangible assets | Intangible assets Intangible assets acquired separately or in a business combination are initially measured at cost. The cost of an intangible asset acquired in a business combination is its fair value as of the date of acquisition. Following initial recognition, intangible assets are carried at cost, net of accumulated amortization. The useful lives of intangible assets are assessed to be either finite or indefinite. Intangible assets with finite lives are amortized over their useful life using the straight-line method. The amortization period and the amortization method for an intangible asset with a finite useful life are reviewed at least annually at each fiscal year end. Changes in the expected useful life or the expected pattern of consumption of future economic benefits embodied in the asset are accounted for prospectively by changing the amortization period or method, as appropriate, which is a change in an accounting estimate. The amortization expense on intangible assets with finite lives is recognized in the consolidated statements of operations in the expense category, consistent with the function of the intangible asset. The estimated useful lives for each intangible asset class are as follows: Patents, trademarks and other rights 2 - 7 years Customer relationships 2 - 4 years Acquired developed technology 3 - 10 years |
Impairment of goodwill, intangible assets and long-lived assets | Impairment of goodwill, intangible assets and long-lived assets Goodwill is tested for impairment annually during the fourth quarter of the Group's fiscal year and when circumstances indicate that the carrying value may be impaired. Impairment is determined for goodwill by assessing the recoverable amount of the CGU. When the recoverable amount of the CGU is less than its carrying amount, an impairment loss is recognized. Impairment losses relating to goodwill cannot be reversed in future periods. Intangible assets are tested for impairment annually, during the fourth quarter, and when circumstances indicate that the carrying value may be impaired. When the recoverable amount of an intangible asset is less than its carrying amount, an impairment loss is recognized. The residual values and useful lives of long-lived assets are reviewed at the end of each reporting period and adjusted if appropriate. An asset's carrying amount is written down immediately to its recoverable amount if the asset's carrying amount is greater than its estimated recoverable amount. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. In determining fair value less costs to sell, recent market transactions are taken into account, if available. If no such transactions can be identified, an appropriate valuation model is used. |
Financial liabilities | Financial liabilities Initial recognition and measurement Financial liabilities are classified, at initial recognition, as financial liabilities held for trading, loans and borrowings, payables, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. All financial liabilities are recognized initially at fair value and, in the case of loans and borrowings, net of directly attributable transaction costs. The Group’s financial liabilities include trade and other payables, exchangeable senior notes (the “Notes”) and derivative financial instruments. Subsequent measurement The measurement of financial liabilities depends on their classification. Financial liabilities classified as held for trading, including derivative financial instruments entered into by the Group that are not designated as hedging instruments in hedge relationships are recognized at fair value. Separated embedded derivatives are also classified as held for trading unless they are designated as effective hedging instruments. Gains or losses on liabilities held for trading are recognized in the consolidated statements of operations. Loans and borrowings After initial recognition, interest-bearing loans and borrowings are subsequently measured at amortized cost using the effective interest method (“EIR”). Gains and losses are recognized in the consolidated statements of operations when the liabilities are derecognized as well as through the EIR amortization process. Amortized cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are an integral part of the EIR. The EIR amortization is included as finance costs in the consolidated statements of operations. Derecognition A financial liability is derecognized when the obligation under the liability is discharged or cancelled or expires. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the derecognition of the original liability and the recognition of a new liability. The difference in the respective carrying amounts is recognized in the consolidated statements of operations. |
Provisions and accrued liabilities | Provisions and accrued liabilities Provisions and accrued expenses are recognized when the Group has a present obligation as a result of past events, it is probable that an outflow of resources will be required to settle the obligation and the amount has been reliably estimated. Provisions are not recognized for future operating losses. Provisions are measured at the present value of management's best estimate of the expenditure required to settle the present obligation at the end of each reporting period. The discount rate used to determine the present value is a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. The increase in the provision due to the passage of time is recognized as finance costs. |
Shareholders' equity | Shareholders' equity Preference, ordinary and restricted shares are classified as equity. When the Group purchases its own equity instruments, for example as the result of a share buyback or a share-based payment plan, the consideration paid, including any directly attributable incremental costs (net of income taxes), is deducted from equity attributable to the owners of the Company as treasury shares, until the shares are cancelled or reissued. When such ordinary shares are subsequently reissued, any consideration received, net of any directly attributable incremental transaction costs and the related income tax effects, is included in equity attributable to the owners of the Company. |
Dividends | Dividends Provision is made for any dividend declared, being appropriately authorized and no longer at the discretion of the entity, on or before the end of the reporting period but not distributed at the end of the reporting period. |
Royalties | Royalties Royalties payable are recognized as an expense on an accruals basis in accordance with the applicable royalty agreement. |
New accounting standards not yet adopted | New accounting standards not yet adopted IFRS 15, Revenue from Contracts with Customers , was issued in May 2014, and amended in April 2016, and establishes a five-step model to account for revenue arising from contracts with customers. Under IFRS 15, revenue is recognized at an amount that reflects the consideration to which an entity expects to be entitled in exchange for transferring goods or services to customers. The new revenue standard supersedes all current revenue recognition requirements under IFRS. Either a full retrospective application or modified retrospective application is required for annual periods beginning on or after January 1, 2018. The standard is applicable for our fiscal year ending June 30, 2019. We have assessed the new standard, including completing our contract reviews and evaluation of the incremental costs of obtaining a contract. Based on our assessment, we will be adopting the requirements of the new standard in the first quarter of fiscal 2019, utilizing the full retrospective method of transition. The primary impact of adopting the new standard relates to our on-premises term-based licenses, as under IFRS 15, the requirement to have vendor specific objective evidence (VSOE) for undelivered elements is eliminated. Our term-based licenses include the delivery of software and support services as well as unspecified future updates. Under our current policies, we recognize revenue for these contracts ratably over the life of the service period. In contrast, under IFRS 15, we will estimate the standalone selling price associated with the software license and the support services separately and recognize license revenue upon delivery of the initial software at the outset of the arrangement. Upon adoption, unused maintenance upon server product upgrades will be allocated between maintenance, perpetual license and other revenue. Under our current policy it is allocated in-full to perpetual license revenue. The impact of adopting the new standard as it relates to the incremental costs of obtaining a contract was not material to our fiscal 2018 and fiscal 2017 financial statements. Select consolidated statements of operations line items which reflect the adoption of IFRS 15 are as follows: Year ended June 30, 2018 As Reported IFRS 15 Adjustment As Adjusted (U.S. $ in thousands) Revenues: Subscription $ 403,214 $ 7,480 $ 410,694 Maintenance 325,898 613 326,511 Perpetual license 85,481 (2,310 ) 83,171 Other 59,357 1,245 60,602 Total revenues 873,950 7,028 880,978 Total operating expenses 755,008 (675 ) 754,333 Operating loss (53,748 ) 7,703 (46,045 ) Income tax expense (53,507 ) (1,794 ) (55,301 ) Net loss $ (119,341 ) $ 5,909 $ (113,432 ) Year ended June 30, 2017 As Reported IFRS 15 Adjustment As Adjusted (U.S. $ in thousands) Revenues: Subscription $ 242,128 $ 7,695 $ 249,823 Maintenance 265,521 (1,068 ) 264,453 Perpetual license 74,565 (507 ) 74,058 Other 37,722 628 38,350 Total revenues 619,936 6,748 626,684 Total operating expenses 563,861 (504 ) 563,357 Operating loss (63,086 ) 7,252 (55,834 ) Income tax benefit 17,148 (2,197 ) 14,951 Net loss $ (42,504 ) $ 5,055 $ (37,449 ) Select consolidated statements of financial position line items, which reflect the adoption of IFRS 15 are as follows: As of June 30, 2018 As Reported IFRS 15 Adjustment As Adjusted (U.S. $ in thousands) Current assets: Prepaid expenses and other current assets $ 28,219 $ 1,576 $ 29,795 Non-current assets: Deferred tax assets 64,662 (5,442 ) 59,220 Other non-current assets 112,221 1,180 113,401 Current liabilities: Deferred revenue 340,834 (16,440 ) 324,394 Non-current liabilities: Deferred tax liabilities 12,051 109 12,160 Deferred revenue 19,386 (909 ) 18,477 Equity Accumulated deficit $ (142,570 ) $ 14,554 $ (128,016 ) As of June 30, 2017 As Reported IFRS 15 Adjustment As Adjusted (U.S. $ in thousands) Current assets: Prepaid expenses and other current assets $ 23,317 $ 822 $ 24,139 Non-current assets: Deferred tax assets 188,239 (3,341 ) 184,898 Other non-current assets 9,269 778 10,047 Current liabilities: Deferred revenue 245,306 (10,541 ) 234,765 Non-current liabilities: Deferred tax liabilities 43,950 416 44,366 Deferred revenue 10,691 (261 ) 10,430 Equity Accumulated deficit $ (23,229 ) $ 8,645 $ (14,584 ) Adoption of the standard related to revenue recognition had no impact to cash provided by or used in operating, financing, or investing activities on our consolidated cash flows statements. In January 2016, the IASB issued IFRS 16, Leases, which supersedes the existing leases standard, IAS 17, Leases , and related interpretations. The standard introduces a single lessee accounting model and requires a lessee to recognize all leases with a term of more than 12 months, as assets and liabilities on its statement of financial position. The standard also contains enhanced disclosure requirements for lessees and is effective for the Group beginning for its fiscal year ending June 30, 2020, though early adoption is permitted for companies that early adopt IFRS 15. The Group is currently evaluating the impact of adopting the standard on its consolidated financial statements. |
Summary of Significant Accoun29
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Significant Accounting Policies [Abstract] | |
Schedule of detailed information about property, plant and equipment | The estimated useful lives for each asset class are as follows: Equipment 3 - 5 years Computer hardware and computer-related software 3 - 5 years Furniture and fittings 5 - 10 years Leasehold improvements Shorter of the remaining lease term or 7 years Property and equipment, net consisted of the following: Equipment Computer Furniture Leasehold Total (U.S. $ in thousands) As of June 30, 2017 Opening cost balance $ 3,400 $ 52,141 $ 5,409 $ 25,114 $ 86,064 Additions 1,138 2,106 1,693 9,168 14,105 Disposals (645 ) (794 ) (34 ) (471 ) (1,944 ) Effect of change in exchange rates 2 (5 ) 15 29 41 Closing cost balance 3,895 53,448 7,083 33,840 98,266 Opening accumulated depreciation (1,727 ) (15,390 ) (1,444 ) (8,741 ) (27,302 ) Depreciation expense (1,022 ) (23,729 ) (1,016 ) (5,923 ) (31,690 ) Effect of change in exchange rates (2 ) 1 (6 ) 6 (1 ) Disposals 630 782 17 471 1,900 Closing accumulated depreciation (2,121 ) (38,336 ) (2,449 ) (14,187 ) (57,093 ) Net book amount $ 1,774 $ 15,112 $ 4,634 $ 19,653 $ 41,173 As of June 30, 2018 Opening cost balance $ 3,895 $ 53,448 $ 7,083 $ 33,840 $ 98,266 Additions 1,651 247 4,023 28,279 34,200 Disposals (320 ) (44,545 ) (83 ) (668 ) (45,616 ) Effect of change in exchange rates (2 ) (3 ) 8 5 8 Closing cost balance 5,224 9,147 11,031 61,456 86,858 Opening accumulated depreciation (2,121 ) (38,336 ) (2,449 ) (14,187 ) (57,093 ) Depreciation expense (1,214 ) (11,543 ) (1,485 ) (7,915 ) (22,157 ) Effect of change in exchange rates (1 ) 1 (4 ) 21 17 Disposals 272 43,048 43 668 44,031 Closing accumulated depreciation (3,064 ) (6,830 ) (3,895 ) (21,413 ) (35,202 ) Net book amount $ 2,160 $ 2,317 $ 7,136 $ 40,043 $ 51,656 |
Schedule of detailed information about intangible assets | The estimated useful lives for each intangible asset class are as follows: Patents, trademarks and other rights 2 - 7 years Customer relationships 2 - 4 years Acquired developed technology 3 - 10 years Intangible assets consisted of the following: Patents, Acquired Developed Technology Employee Customer Total (U.S. $ in thousands) As of June 30, 2017 Opening cost balance $ 220 $ 75,926 $ 3,631 $ 484 $ 80,261 Additions 21,525 57,300 — 58,200 137,025 Effect of change in exchange rates — 103 — — 103 Closing cost balance 21,745 133,329 3,631 58,684 217,389 Opening accumulated amortization (135 ) (62,480 ) (3,631 ) (438 ) (66,684 ) Amortization charge (2,907 ) (14,588 ) — (12,361 ) (29,856 ) Effect of change in exchange rates — (60 ) — — (60 ) Closing accumulated amortization (3,042 ) (77,128 ) (3,631 ) (12,799 ) (96,600 ) Net book amount $ 18,703 $ 56,201 $ — $ 45,885 $ 120,789 As of June 30, 2018 Opening cost balance $ 21,745 $ 133,329 $ 3,631 $ 58,684 $ 217,389 Effect of change in exchange rates — 90 — — 90 Closing cost balance 21,745 133,419 3,631 58,684 217,479 Opening accumulated amortization (3,042 ) (77,128 ) (3,631 ) (12,799 ) (96,600 ) Amortization charge (6,990 ) (21,188 ) — (29,100 ) (57,278 ) Effect of change in exchange rates — (24 ) — — (24 ) Closing accumulated amortization (10,032 ) (98,340 ) (3,631 ) (41,899 ) (153,902 ) Net book amount $ 11,713 $ 35,079 $ — $ 16,785 $ 63,577 |
Schedule of disclosure of expected impact of initial application of new standards | Select consolidated statements of operations line items which reflect the adoption of IFRS 15 are as follows: Year ended June 30, 2018 As Reported IFRS 15 Adjustment As Adjusted (U.S. $ in thousands) Revenues: Subscription $ 403,214 $ 7,480 $ 410,694 Maintenance 325,898 613 326,511 Perpetual license 85,481 (2,310 ) 83,171 Other 59,357 1,245 60,602 Total revenues 873,950 7,028 880,978 Total operating expenses 755,008 (675 ) 754,333 Operating loss (53,748 ) 7,703 (46,045 ) Income tax expense (53,507 ) (1,794 ) (55,301 ) Net loss $ (119,341 ) $ 5,909 $ (113,432 ) Year ended June 30, 2017 As Reported IFRS 15 Adjustment As Adjusted (U.S. $ in thousands) Revenues: Subscription $ 242,128 $ 7,695 $ 249,823 Maintenance 265,521 (1,068 ) 264,453 Perpetual license 74,565 (507 ) 74,058 Other 37,722 628 38,350 Total revenues 619,936 6,748 626,684 Total operating expenses 563,861 (504 ) 563,357 Operating loss (63,086 ) 7,252 (55,834 ) Income tax benefit 17,148 (2,197 ) 14,951 Net loss $ (42,504 ) $ 5,055 $ (37,449 ) Select consolidated statements of financial position line items, which reflect the adoption of IFRS 15 are as follows: As of June 30, 2018 As Reported IFRS 15 Adjustment As Adjusted (U.S. $ in thousands) Current assets: Prepaid expenses and other current assets $ 28,219 $ 1,576 $ 29,795 Non-current assets: Deferred tax assets 64,662 (5,442 ) 59,220 Other non-current assets 112,221 1,180 113,401 Current liabilities: Deferred revenue 340,834 (16,440 ) 324,394 Non-current liabilities: Deferred tax liabilities 12,051 109 12,160 Deferred revenue 19,386 (909 ) 18,477 Equity Accumulated deficit $ (142,570 ) $ 14,554 $ (128,016 ) As of June 30, 2017 As Reported IFRS 15 Adjustment As Adjusted (U.S. $ in thousands) Current assets: Prepaid expenses and other current assets $ 23,317 $ 822 $ 24,139 Non-current assets: Deferred tax assets 188,239 (3,341 ) 184,898 Other non-current assets 9,269 778 10,047 Current liabilities: Deferred revenue 245,306 (10,541 ) 234,765 Non-current liabilities: Deferred tax liabilities 43,950 416 44,366 Deferred revenue 10,691 (261 ) 10,430 Equity Accumulated deficit $ (23,229 ) $ 8,645 $ (14,584 ) |
Group Information (Tables)
Group Information (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Disclosure of interests in other entities [Abstract] | |
Schedule of group information | As of June 30, 2018 , the Group’s subsidiaries, all of which are wholly-owned, were as follows: Name Country of Incorporation Atlassian (UK) Limited United Kingdom, United States of America Atlassian (UK) Holdings Limited United Kingdom, United States of America Atlassian (Australia) Limited United Kingdom, United States of America Atlassian (Global) Limited United Kingdom Atlassian (UK) Operations Limited United Kingdom Atlassian, Inc. United States of America Atlassian LLC United States of America Atlassian Network Services, Inc. United States of America Dogwood Labs, Inc. United States of America Trello, Inc. United States of America Atlassian Australia 1 Pty Ltd Australia Atlassian Australia 2 Pty Ltd Australia Atlassian Corporation Pty. Ltd. Australia Atlassian Pty Ltd Australia Atlassian Capital Pty. Ltd. Australia MITT Australia Pty Ltd Australia MITT Trust Australia Atlassian K.K. Japan Atlassian Germany GmbH Germany Atlassian Holdings B.V. Netherlands Atlassian Philippines, Inc. Philippines Atlassian France France Atlassian B.V. Netherlands Atlassian India LLP India |
Financial Risk Management (Tabl
Financial Risk Management (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Financial instruments [Abstract] | |
Schedule of contractual maturities of financial liabilities | Contractual maturities of financial liabilities are as follows: Up to 12 Months Greater than 12 Months Total (U.S. $ in thousands) As of June 30, 2018 Financial liabilities: Trade and other payables $ 113,105 $ — $ 113,105 Exchangeable senior notes, net — 1,000,000 1,000,000 $ 113,105 $ 1,000,000 $ 1,113,105 As of June 30, 2017 Financial liabilities: Trade and other payables $ 73,192 $ — $ 73,192 Other non-current liabilities — 4,969 4,969 $ 73,192 $ 4,969 $ 78,161 |
Schedule of financial assets measured at fair value | The following table presents the Group’s financial assets and liabilities measured and recognized at fair value as of June 30, 2018 , by level within the fair value hierarchy: Level 1 Level 2 Level 3 Total (U.S. $ in thousands) Description Assets Cash and cash equivalents: Money market funds $ 693,596 $ — $ — $ 693,596 Commercial paper — 29,118 — 29,118 Agency securities — 7,989 — 7,989 Corporate debt securities — 1,000 — 1,000 U.S. treasury securities — 18,968 — 18,968 Total cash and cash equivalents 693,596 57,075 — 750,671 Investments: U.S. treasury securities — 52,700 — 52,700 Agency securities — 22,015 — 22,015 Certificates of deposit and time deposits — 58,824 — 58,824 Commercial paper — 35,372 — 35,372 Corporate debt securities — 157,883 — 157,883 Municipal securities — — — — Total investments — 326,794 — 326,794 Derivative assets — 63 — 63 Capped call transactions — — 99,932 99,932 Total assets 693,596 383,932 99,932 1,177,460 Liabilities Derivative liabilities — 5,417 — 5,417 Notes embedded exchange derivative — — 202,553 202,553 Total liabilities $ — $ 5,417 $ 202,553 $ 207,970 As of June 30, 2018 , the Group’s investments consisted of the following: Amortized Cost Unrealized Gains Unrealized Losses Fair Value (U.S. $ in thousands) Investments U.S. treasury securities $ 52,809 $ — $ (109 ) $ 52,700 Agency securities 22,097 — (82 ) 22,015 Certificates of deposit and time deposits 58,824 — — 58,824 Commercial paper 35,372 — — 35,372 Corporate debt securities 158,538 14 (669 ) 157,883 Total investments $ 327,640 $ 14 $ (860 ) $ 326,794 As of June 30, 2017 , the Group’s investments consisted of the following: Amortized Cost Unrealized Gains Unrealized Losses Fair Value (U.S. $ in thousands) Investments U.S. treasury securities $ 61,760 $ — $ (84 ) $ 61,676 Agency securities 16,740 — (86 ) 16,654 Certificates of deposit and time deposits 44,101 — — 44,101 Commercial paper 33,928 — — 33,928 Corporate debt securities 148,634 52 (140 ) 148,546 Municipal securities 4,789 — (1 ) 4,788 Total investments $ 309,952 $ 52 $ (311 ) $ 309,693 The following table presents the Group’s financial assets and liabilities measured and recognized at fair value as of June 30, 2017, by the level within the fair value hierarchy: Level 1 Level 2 Level 3 Total (U.S. $ in thousands) Description Cash and cash equivalents: Money market funds $ 78,564 $ — $ — $ 78,564 Commercial paper — 2,749 — 2,749 Total cash and cash equivalents 78,564 2,749 — 81,313 Investments: U.S. treasury securities — 61,676 — 61,676 Agency securities — 16,654 — 16,654 Certificates of deposit and time deposits — 44,101 — 44,101 Commercial paper — 33,928 — 33,928 Corporate debt securities — 148,546 — 148,546 Municipal securities — 4,788 — 4,788 Total investments — 309,693 — 309,693 Derivative assets — 3,252 — 3,252 Total assets $ 78,564 $ 315,694 $ — $ 394,258 |
Schedule of changes in capped call transactions and notes embedded exchange derivatives | The following table illustrates the changes in the balances of the capped call transaction and Notes embedded exchange derivative liability associated with the Notes, as reported in other non-current assets and other non-current liabilities in the consolidated statements of financial position: Capped Call Transactions Notes Embedded Exchange Derivative (U.S. $ in thousands) Balance as of June 30, 2017 $ — $ — Additions 87,700 (177,907 ) Changes in unrealized gains (losses) 12,232 (24,646 ) Balance as of June 30, 2018 $ 99,932 $ (202,553 ) |
Schedule of investments by remaining contractual maturity | The table below summarizes the Group’s investments by remaining contractual maturity based on the effective maturity date: As of June 30, 2018 2017 (U.S. $ in thousands) Recorded as follows: Due in one year or less $ 277,087 $ 223,562 Due after one year 49,707 86,131 Total investments $ 326,794 $ 309,693 |
Schedule of fair value of derivative instruments | The fair value of the derivative instruments were as follows: Statement of Financial Position Location Fair Value Fair Value (U.S. $ in thousands) Derivative assets Derivatives designated as hedging instruments: Foreign exchange forward contracts Prepaid expenses and other current assets $ 39 $ 2,915 Foreign exchange forward contracts Other non-current assets 3 249 Derivatives not designated as hedging instruments: Foreign exchange forward contracts Prepaid expenses and other current assets 21 88 Total derivative assets $ 63 $ 3,252 Derivative liabilities Derivatives designated as hedging instruments: Foreign exchange forward contracts Trade and other payables $ 5,006 $ — Foreign exchange forward contracts Other non-current liabilities 204 — Derivatives not designated as hedging instruments: Foreign exchange forward contracts Trade and other payables 207 — Total derivative liabilities $ 5,417 $ — |
Schedule of notional amounts of derivative instruments | The following table sets forth the notional amounts of our derivative instruments at June 30, 2018 (in thousands): Notional Amounts of Derivative Instruments Notional Amount by Term to Maturity Classification by Notional Amount Under 12 months Over 12 months Total Cash Flow Hedge Non Hedge Total Foreign exchange forward contracts $188,633 $12,492 $201,125 $180,898 $20,227 $201,125 The following table sets forth the notional amounts of our derivative instruments at June 30, 2017 (in thousands): Notional Amounts of Derivative Instruments Notional Amount by Term to Maturity Classification by Notional Amount Under 12 months Over 12 months Total Cash Flow Hedge Non Hedge Total Foreign exchange forward contracts $ 100,470 $ 8,707 $ 109,177 $ 99,662 $ 9,515 $ 109,177 |
Schedule of effects of derivatives designated as hedging instruments on consolidated financial statements | The effects of derivatives designated as hedging instruments on our consolidated financial statements were as follows (amounts presented are prior to any income tax effects): Foreign Exchange Forward Contracts Fiscal Year Ended June 30, 2018 2017 (U.S. $ in thousands) Gross unrealized gain (loss) recognized in other comprehensive income $ (5,730 ) $ 4,517 Net gain reclassified from cash flow hedge reserve into profit or loss - effective portion $ 2,599 $ 1,356 Gain (loss) recognized into profit or loss - ineffective portion $ 12 $ (3 ) |
Other Non-operating Income (E32
Other Non-operating Income (Expense), Net (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Disclosure of additional information [Abstract] | |
Schedule of other non-operating income (expense) | Other non-operating income (expense), net consisted of the following: Fiscal Year Ended 2018 2017 2016 (U.S. $ in thousands) Exchange derivative allocated issuance costs $ (1,785 ) $ — $ — Net unrealized loss on exchange derivative and capped calls (12,414 ) — — Foreign currency exchange gain (loss), net (413 ) (93 ) 376 Contributions to Atlassian Foundation (1,856 ) (1,620 ) (1,463 ) Other income 1,311 371 15 Other non-operating income (expense), net $ (15,157 ) $ (1,342 ) $ (1,072 ) |
Expenses (Tables)
Expenses (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Profit or loss [abstract] | |
Schedule of expenses | Loss before income tax benefit (expense) included the following expenses: Fiscal Year Ended June 30, 2018 2017 2016 (U.S. $ in thousands) Depreciation: Equipment $ 1,214 $ 1,022 $ 762 Computer hardware and software 11,543 23,729 9,537 Furniture and fittings 1,485 1,016 720 Leasehold improvements 7,915 5,923 3,416 Total depreciation 22,157 31,690 14,435 Amortization: Patents and trademarks 6,990 2,907 31 Customer relationships 29,100 12,361 55 Acquired developed technology 21,188 14,588 7,405 Total amortization 57,278 29,856 7,491 Total depreciation and amortization $ 79,435 $ 61,546 $ 21,926 Employee benefits expense: Salaries and wages $ 273,326 $ 201,953 $ 149,506 Variable compensation 33,067 19,260 14,260 Payroll taxes 30,478 20,792 14,250 Share-based payment expense 162,873 137,448 75,480 Defined contribution plan expense 16,839 13,041 10,105 Contractor expense 23,666 16,333 18,352 Other 44,877 34,605 31,946 Total employee benefits expense $ 585,126 $ 443,432 $ 313,899 |
Income Tax (Tables)
Income Tax (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Income Taxes [Abstract] | |
Schedule of major components of income tax benefit | The major components of income tax benefit for the fiscal years ended June 30, 2018 , 2017 and 2016 are as follows: Fiscal Year Ended June 30, 2018 2017 2016 (U.S. $ in thousands) Current income tax: Current income tax charge $ (1,956 ) $ (11,518 ) $ (6,475 ) Adjustments in respect of current income tax of previous years (48 ) (25 ) 989 Deferred tax: Benefit (expense) relating to origination and reversal of temporary differences (18,140 ) 28,061 17,041 Adjustments in respect of temporary differences of previous years (33,363 ) 630 (2,275 ) Income tax benefit (expense) $ (53,507 ) $ 17,148 $ 9,280 |
Schedule of reconciliation of income tax benefit | A reconciliation between income tax benefit and the product of accounting income (loss) multiplied by the United Kingdom's domestic tax rate for the fiscal years ended June 30, 2018 , 2017 and 2016 , is as follows: Fiscal Year Ended June 30, 2018 2017 2016 (U.S. $ in thousands) Loss before income tax benefit (expense) $ (65,834 ) $ (59,652 ) $ (4,907 ) At the United Kingdom's statutory income tax rate of 19%, 19.75%, and 20.00% in fiscal 2018, 2017 and 2016, respectively 12,508 11,781 983 Tax effect of amounts that are not taxable (deductible) in calculating taxable income: Research and development incentive 2,620 18,404 20,673 Non-deductible charges relating to exchangeable senior notes (3,195 ) — — Share-based payment (11,199 ) (9,946 ) (6,317 ) Foreign tax credits not utilized (81 ) — (4,011 ) Amortization of intangible assets that do not give rise to deferred taxes (31 ) (673 ) (907 ) Non-deductible retention on acquisition — (150 ) (405 ) Non-assessable non-operating items — — 7,995 Foreign tax rate adjustment (4,968 ) (1,990 ) (7,341 ) Adjustment to deferred tax balance (14,602 ) (332 ) 150 Other items, net (1,148 ) (551 ) (254 ) (20,096 ) 16,543 10,566 Adjustments in respect to current income tax of previous years (48 ) (25 ) 989 Adjustments in respect to deferred income tax of previous years (33,363 ) 630 (2,275 ) Income tax benefit (expense) $ (53,507 ) $ 17,148 $ 9,280 |
Schedule of reconciliation of deferred tax assets, net | Details of deferred taxes, recognized and unrecognized: Consolidated Statements of Financial Position Consolidated Statements of Operations As of June 30, Fiscal Year Ended June 30, 2018 2017 2018 2017 (U.S. $ in thousands) Depreciation for tax purposes $ 2,537 $ 1,122 $ 1,415 $ 4,331 Provisions, accruals and prepayments 7,349 7,560 (211 ) 1,795 Deferred revenue 28,093 15,275 12,818 11,621 Unrealized foreign currency exchange gains (410 ) (184 ) (226 ) — Carried forward tax losses (gains) 850 35,071 (34,221 ) 29,729 Carried forward tax credits—credited to profit and loss 5,456 46,412 (41,546 ) 9,709 Intangible assets 16,620 (34,060 ) 50,680 9,091 Tax benefit (expense) from share plans—income 216 30,597 (30,379 ) 10,695 Tax benefit (expense) from share plans—equity 127 42,846 (123 ) (48,012 ) Deferred foreign taxes (10,605 ) — (10,605 ) — Other, net 2,378 (350 ) 895 (267 ) Deferred tax benefit — — $ (51,503 ) $ 28,692 Deferred tax assets, net $ 52,611 $ 144,289 Reflected in the consolidated statements of financial position as follows: Deferred tax assets $ 64,662 $ 188,239 Deferred tax liabilities (12,051 ) (43,950 ) Deferred tax assets, net $ 52,611 $ 144,289 Items for which no deferred tax asset has been recognized: Depreciation and amortization for tax purposes 2,081 $ — Provisions, accruals and prepayments 3,514 — Deferred revenue 22,541 — Unrealized foreign currency exchange gains 132 — Unused tax losses 166,465 2,022 Intangible assets 2,052,484 — Tax benefit from share plans- income 30,114 — Tax benefit from share plans- equity 62,760 — Capital loss 1,391 1,391 Carried forward tax credits- credited to profit and loss 25,524 3,587 Unrealized loss on investments 160 51 Other, net 1,121 — $ 2,368,287 $ 7,051 2018 2017 (U.S. $ in thousands) Reconciliation of deferred tax assets, net Balance as of July 1, $ 144,289 $ 120,773 Deferred tax charge (benefit) for the year (51,503 ) 28,692 Debited (credited) to equity (40,091 ) 34,517 Adjustment in respect of income tax payable (84 ) (7,282 ) Impact from business combinations — (32,411 ) Balance as of June 30, $ 52,611 $ 144,289 |
Schedule of current and net deferred tax recognized directly in equity | 2018 2017 (U.S. $ in thousands) Amounts recognized directly in equity: Current tax—credited (debited) directly to equity $ — $ 401 Net deferred tax—credited (debited) directly to equity (40,091 ) 34,517 $ (40,091 ) $ 34,918 |
Schedule of losses and credits available for offsetting future profit and taxes | The Group has the following losses and credits available for offsetting future profit and taxes: Expiration Amount carried forward Amount recognized as of June 30, 2018 United States net operating loss June 30, 2032-June 30, 2038 $ 762,682 $ 3,774 State net operating loss June 30, 2024-June 30, 2038 110,770 1,879 United Kingdom net operating loss None 1,790 304 United States research and development credits June 30, 2031-June 30, 2038 18,211 121 State research and development credits- California None 6,672 — State research and development credits- Texas June 30, 2036-June 30, 2038 1,617 1,557 Australia research and development credits None 3,778 3,778 Australia capital loss None 4,637 — State enterprise zone credits June 30, 2020-June 30, 2024 867 — |
Trade Receivables (Tables)
Trade Receivables (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Trade and other receivables [abstract] | |
Schedule of trade receivables | The Group’s trade receivables consisted of the following: As of June 30, 2018 2017 (U.S. $ in thousands) Trade receivables $ 46,770 $ 26,923 Provision for impairment of receivables (629 ) (116 ) $ 46,141 $ 26,807 |
Schedule of financial assets that are either past due or impaired | The movements in the provision for impairment of receivables were as follows: (U.S. $ in thousands) As of July 1, 2016 $ — Charge for the period 116 As of June 30, 2017 116 Charge for the period 513 As of June 30, 2018 $ 629 |
Schedule of analysis of age of financial assets that are past due but not impaired | The aging analysis of these trade receivables is as follows: As of June 30, 2018 2017 (U.S. $ in thousands) Up to three months $ 4,923 $ 5,658 Greater than three months 74 276 $ 4,997 $ 5,934 |
Property and Equipment (Tables)
Property and Equipment (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Disclosure of detailed information about property, plant and equipment [abstract] | |
Schedule of detailed information about property, plant and equipment | The estimated useful lives for each asset class are as follows: Equipment 3 - 5 years Computer hardware and computer-related software 3 - 5 years Furniture and fittings 5 - 10 years Leasehold improvements Shorter of the remaining lease term or 7 years Property and equipment, net consisted of the following: Equipment Computer Furniture Leasehold Total (U.S. $ in thousands) As of June 30, 2017 Opening cost balance $ 3,400 $ 52,141 $ 5,409 $ 25,114 $ 86,064 Additions 1,138 2,106 1,693 9,168 14,105 Disposals (645 ) (794 ) (34 ) (471 ) (1,944 ) Effect of change in exchange rates 2 (5 ) 15 29 41 Closing cost balance 3,895 53,448 7,083 33,840 98,266 Opening accumulated depreciation (1,727 ) (15,390 ) (1,444 ) (8,741 ) (27,302 ) Depreciation expense (1,022 ) (23,729 ) (1,016 ) (5,923 ) (31,690 ) Effect of change in exchange rates (2 ) 1 (6 ) 6 (1 ) Disposals 630 782 17 471 1,900 Closing accumulated depreciation (2,121 ) (38,336 ) (2,449 ) (14,187 ) (57,093 ) Net book amount $ 1,774 $ 15,112 $ 4,634 $ 19,653 $ 41,173 As of June 30, 2018 Opening cost balance $ 3,895 $ 53,448 $ 7,083 $ 33,840 $ 98,266 Additions 1,651 247 4,023 28,279 34,200 Disposals (320 ) (44,545 ) (83 ) (668 ) (45,616 ) Effect of change in exchange rates (2 ) (3 ) 8 5 8 Closing cost balance 5,224 9,147 11,031 61,456 86,858 Opening accumulated depreciation (2,121 ) (38,336 ) (2,449 ) (14,187 ) (57,093 ) Depreciation expense (1,214 ) (11,543 ) (1,485 ) (7,915 ) (22,157 ) Effect of change in exchange rates (1 ) 1 (4 ) 21 17 Disposals 272 43,048 43 668 44,031 Closing accumulated depreciation (3,064 ) (6,830 ) (3,895 ) (21,413 ) (35,202 ) Net book amount $ 2,160 $ 2,317 $ 7,136 $ 40,043 $ 51,656 |
Goodwill and Intangible Assets
Goodwill and Intangible Assets (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Disclosure of detailed information about intangible assets [abstract] | |
Schedule of reconciliation of changes in intangible assets and goodwill | Goodwill consisted of the following: Goodwill (U.S. $ in thousands) Balance as of July 1, 2016 $ 7,138 Additions 304,712 Effect of change in exchange rates 50 Balance as of June 30, 2017 311,900 Additions — Effect of change in exchange rates 43 Balance as of June 30, 2018 $ 311,943 |
Schedule of intangible assets | The estimated useful lives for each intangible asset class are as follows: Patents, trademarks and other rights 2 - 7 years Customer relationships 2 - 4 years Acquired developed technology 3 - 10 years Intangible assets consisted of the following: Patents, Acquired Developed Technology Employee Customer Total (U.S. $ in thousands) As of June 30, 2017 Opening cost balance $ 220 $ 75,926 $ 3,631 $ 484 $ 80,261 Additions 21,525 57,300 — 58,200 137,025 Effect of change in exchange rates — 103 — — 103 Closing cost balance 21,745 133,329 3,631 58,684 217,389 Opening accumulated amortization (135 ) (62,480 ) (3,631 ) (438 ) (66,684 ) Amortization charge (2,907 ) (14,588 ) — (12,361 ) (29,856 ) Effect of change in exchange rates — (60 ) — — (60 ) Closing accumulated amortization (3,042 ) (77,128 ) (3,631 ) (12,799 ) (96,600 ) Net book amount $ 18,703 $ 56,201 $ — $ 45,885 $ 120,789 As of June 30, 2018 Opening cost balance $ 21,745 $ 133,329 $ 3,631 $ 58,684 $ 217,389 Effect of change in exchange rates — 90 — — 90 Closing cost balance 21,745 133,419 3,631 58,684 217,479 Opening accumulated amortization (3,042 ) (77,128 ) (3,631 ) (12,799 ) (96,600 ) Amortization charge (6,990 ) (21,188 ) — (29,100 ) (57,278 ) Effect of change in exchange rates — (24 ) — — (24 ) Closing accumulated amortization (10,032 ) (98,340 ) (3,631 ) (41,899 ) (153,902 ) Net book amount $ 11,713 $ 35,079 $ — $ 16,785 $ 63,577 |
Business Combinations (Tables)
Business Combinations (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Disclosure of detailed information about business combination [abstract] | |
Schedule of detailed information about business combinations | The following table sets forth the components of identifiable intangible assets acquired and their estimated useful lives as of the date of acquisition. Fair Value Useful Life (U.S. $ in thousands) (years) Developed technology $ 50,600 3 Customer relationships 56,900 2 Trade names 19,900 3 Total intangible assets subject to amortization $ 127,400 The following table summarizes the estimated fair values of assets acquired and liabilities assumed as of the date of acquisition: Fair Value (U.S. $ in thousands) Cash and cash equivalents $ 1,019 Trade receivables 1,035 Prepaid expenses and other current assets 765 Deferred tax assets 17,074 Intangible assets 127,400 Goodwill 289,171 Trade and other payables (3,532 ) Deferred revenue (2,165 ) Deferred tax liabilities (46,760 ) Net assets acquired $ 384,007 |
Other Balance Sheet Accounts (T
Other Balance Sheet Accounts (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Subclassifications of assets, liabilities and equities [abstract] | |
Schedule of cash and cash equivalents | Cash and cash equivalents consisted of the following: As of June 30, 2018 2017 (U.S. $ in thousands) Cash and bank deposits $ 659,668 $ 163,107 U.S. treasury securities 18,968 — Corporate securities 1,000 — Agency securities 7,989 — Commercial paper 29,118 2,749 Money market funds 693,596 78,564 Total cash and cash equivalents $ 1,410,339 $ 244,420 |
Schedule of prepaid expenses and other current assets | Prepaid expenses and other current assets consisted of the following: As of June 30, 2018 2017 (U.S. $ in thousands) Prepaid expenses $ 19,702 $ 12,984 Accrued interest income on short-term investments 2,642 4,209 Other receivables 3,059 1,736 Other current assets 2,816 4,388 Total prepaid expenses and other current assets $ 28,219 $ 23,317 |
Schedule of other non-current assets | Other non-current assets consisted of the following: As of June 30, 2018 2017 (U.S. $ in thousands) Security deposits $ 5,248 $ 4,803 Capped call transactions 99,932 — Other non-current assets 7,041 4,466 $ 112,221 $ 9,269 |
Schedule of disclosure of trade and other payables | Trade and other payables consisted of the following: As of June 30, 2018 2017 (U.S. $ in thousands) Trade payables $ 17,119 $ 12,464 Accrued expenses 42,905 24,761 Accrued compensation and employee benefits 28,302 16,687 Retention bonus 410 1,906 Sales and indirect taxes 8,076 6,114 Operating lease payable 1,420 688 Deferred acquisition-related consideration — 3,300 Foreign exchange forward contracts 5,213 — Other payables 9,660 7,272 $ 113,105 $ 73,192 |
Schedule of current provisions | Current provisions consisted of the following: As of June 30, 2018 2017 (U.S. $ in thousands) Employee benefits $ 7,215 $ 6,162 |
Schedule of non-current provisions | Non-current provisions consisted of the following: As of June 30, 2018 2017 (U.S. $ in thousands) Employee benefits $ 2,094 $ 1,415 Dilapidation provision 2,269 1,918 $ 4,363 $ 3,333 |
Schedule of other non-current liabilities | Other non-current liabilities consisted of the following: As of June 30, 2018 2017 (U.S. $ in thousands) Deferred rent $ 11,777 $ 4,660 Notes embedded exchange derivative 202,553 — Other non-current liabilities 655 309 $ 214,985 $ 4,969 |
Exchangeable Senior Notes (Tabl
Exchangeable Senior Notes (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Borrowings [abstract] | |
Schedule of exchangeable debt | The principal amount, unamortized debt discount, unamortized issuance costs and net carrying amount of the liability component of the Notes as of June 30, 2018 were as follow: As of June 30, 2018 (U.S. $ in thousands) Principal amount $ 1,000,000 Unamortized debt discount (172,464 ) Unamortized issuance costs (7,899 ) Net liability $ 819,637 The effective interest rate, contractual interest expense and amortization of debt discount for the Notes for the fiscal year ended June 30, 2018 were as follow: 2018 (U.S. $ in thousands) Effective interest rate 4.83 % Contractual interest expense 1,075 Amortization of debt discount 5,443 |
Shareholders' Equity (Tables)
Shareholders' Equity (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Disclosure of classes of share capital [abstract] | |
Schedule of classes of share capital | Share capital As of June 30, As of June 30, 2018 2017 2018 2017 (number of shares) (U.S. $ in thousands) Details Class A ordinary shares 105,371,800 91,979,704 $ 10,537 $ 9,198 Class B ordinary shares 129,942,506 135,283,942 12,994 13,528 235,314,306 227,263,646 $ 23,531 $ 22,726 Movements in Class A ordinary share capital Number of Amount (U.S. $ in thousands) Details Balance as of July 1, 2016 75,505,973 $ 7,550 Conversion of Class B ordinary shares 6,326,879 633 Exercise of share options 5,487,334 549 Issuance for settlement of RSUs 4,510,995 451 Vesting of share options that were early exercised 148,523 15 Balance as of June 30, 2017 91,979,704 9,198 Conversion of Class B ordinary shares 5,861,707 587 Exercise of share options 1,902,084 190 Issuance for settlement of RSUs 5,253,809 525 Vesting of share options that were early exercised 374,496 37 Balance as of June 30, 2018 105,371,800 $ 10,537 Movements in Class B ordinary share capital Number of Amount (U.S. $ in thousands) Details Balance as of July 1, 2016 140,696,234 $ 14,070 Exercise of share options 914,587 91 Conversion to Class A ordinary shares (6,326,879 ) (633 ) Balance as of June 30, 2017 135,283,942 13,528 Exercise of share options 520,271 53 Conversion to Class A ordinary shares (5,861,707 ) (587 ) Balance as of June 30, 2018 129,942,506 $ 12,994 |
Reserves (Tables)
Reserves (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Share capital, reserves and other equity interest [Abstract] | |
Schedule of reserves | Reserves comprise the following: As of June 30, 2018 2017 2016 (U.S. $ in thousands) Reserves Share premium $ 454,766 $ 450,959 $ 441,734 Other capital reserves 557,100 437,346 244,335 Cash flow hedge reserve (3,624 ) 2,215 — Foreign currency translation reserve 4,407 4,289 4,149 Investments at fair value through other comprehensive income reserve (844 ) (258 ) 550 Total reserves $ 1,011,805 $ 894,551 $ 690,768 Amount (U.S. $ in thousands) Share premium Balance as of July 1, 2016 $ 441,734 Share options exercise 8,858 Early exercise vesting 367 Balance as of June 30, 2017 450,959 Share options exercise 3,761 Early exercise vesting 46 Balance as of June 30, 2018 $ 454,766 Amount (U.S. $ in thousands) Other capital reserves Balance as of July 1, 2016 $ 244,335 Share issuance for settlement of RSUs (451 ) Replacement equity awards related to business combination 20,193 Share-based payments 137,458 Tax benefit from share plans 35,811 Balance as of June 30, 2017 437,346 Share issuance for settlement of RSUs (525 ) Share-based payments 162,873 Tax benefit from share plans 140 Reduction in deferred tax assets (42,734 ) Balance as of June 30, 2018 $ 557,100 Amount (U.S. $ in thousands) Cash flow hedge reserve Balance as of July 1, 2016 $ — Net gain on derivative instruments 2,215 Balance as of June 30, 2017 2,215 Net loss on derivative instruments (5,839 ) Balance as of June 30, 2018 $ (3,624 ) Amount (U.S. $ in thousands) Foreign currency translation reserve Balance as of July 1, 2016 $ 4,149 Translation adjustment 140 Balance as of June 30, 2017 4,289 Translation adjustment 118 Balance as of June 30, 2018 $ 4,407 Amount (U.S. $ in thousands) Investments at fair value through other comprehensive income reserve Balance as of July 1, 2016 $ 550 Net change in unrealized gain (loss) on investments classified at fair value through other comprehensive income, net of tax (808 ) Balance as of June 30, 2017 (258 ) Net change in unrealized gain (loss) on investments classified at fair value through other comprehensive income (586 ) Balance as of June 30, 2018 $ (844 ) |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Earnings per share [abstract] | |
Schedule of reconciliation of the calculation of basic and diluted earnings (loss) per share | A reconciliation of the calculation of basic and diluted earnings (loss) per share is as follows: Fiscal Year Ended June 30, 2018 2017 2016 (U.S. $ in thousands, except per share data) Numerator: Net income (loss) $ (119,341 ) $ (42,504 ) $ 4,373 Less: Allocation of earnings to preference shares—basic — — (274 ) Net income (loss) attributable to ordinary shareholders—basic (119,341 ) (42,504 ) 4,099 Add: Reallocation of earnings to ordinary shares — — 14 Net income (loss) attributable to ordinary shareholders—diluted $ (119,341 ) $ (42,504 ) $ 4,113 Denominator: Weighted-average ordinary shares outstanding—basic 231,184 222,224 182,773 Effect of potentially dilutive shares: Share options and RSUs — — 10,708 Weighted-average ordinary shares outstanding—diluted 231,184 222,224 193,481 Net income (loss) per share attributable to ordinary shareholders: Basic net income (loss) per share $ (0.52 ) $ (0.19 ) $ 0.02 Diluted net income (loss) per share $ (0.52 ) $ (0.19 ) $ 0.02 |
Commitments (Tables)
Commitments (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Disclosure of commitments [Abstract] | |
Schedule of finance lease and operating lease by lessee | Commitments for minimum lease payments in relation to non-cancellable operating leases and purchase obligations in relation to our colocation data centers as of June 30, 2018 were as follows: Operating Other Total (U.S. $ in thousands) Fiscal Period: Year ending 2019 $ 32,530 $ 25,753 $ 58,283 Years ending 2020 - 2023 132,543 — 132,543 Thereafter 163,112 — 163,112 Total commitments $ 328,185 $ 25,753 $ 353,938 |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Related party transactions [abstract] | |
Schedule of compensation for the Company's key management personnel | Compensation for the Company's key management personnel is as follows: Fiscal Year Ended June 30, 2018 2017 2016 (U.S. $ in thousands) Executive management Short-term compensation and benefits $ 2,991 $ 2,860 $ 3,365 Post-employment benefits 99 100 96 Share-based payments 9,335 26,030 15,985 $ 12,425 $ 28,990 $ 19,446 Board of directors Cash remuneration $ 362 $ 388 $ 241 Share-based payments 1,577 1,825 1,482 $ 1,939 $ 2,213 $ 1,723 |
Geographic Information (Tables)
Geographic Information (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Disclosure of geographical areas [abstract] | |
Schedule of Group's revenues and non-current operating assets by geographic regions | The Group’s revenues by geographic region based on end-users who purchased our products or services are as follows: Fiscal Year Ended June 30, 2018 2017 2016 (U.S. $ in thousands) Americas $ 435,471 $ 312,514 $ 232,793 EMEA 346,362 242,496 178,087 Asia Pacific 92,117 64,926 46,178 $ 873,950 $ 619,936 $ 457,058 Fiscal Year Ended June 30, 2018 2017 (U.S. $ in thousands) Non-current operating assets United States $ 411,188 $ 449,504 Australia 16,692 20,988 $ 427,880 $ 470,492 |
Share-based Payments (Tables)
Share-based Payments (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Disclosure of share-based payment arrangements [Abstract] | |
Schedule of number and weighted average exercise prices of share options | Class B ordinary share option activity was as follows: Shares Outstanding Weighted- Balance as of July 1, 2016 — 1,434,858 $ 0.56 Exercised — (914,587 ) $ 0.55 Balance as of June 30, 2017 — 520,271 $ 0.63 Exercised — (520,271 ) $ 0.61 Balance as of June 30, 2018 — — $ — RSU and Class A ordinary share option activity was as follows: Share Options Shares Outstanding Weighted RSUs Outstanding Balance as of July 1, 2016 17,529,216 9,311,825 $ 2.04 12,204,353 Increase in shares authorized: 2015 Plan 10,817,923 — — — RSUs granted (5,938,291 ) — — 5,938,291 RSUs canceled 1,214,176 — — (1,214,176 ) RSUs settled — — — (4,510,995 ) Replacement share options granted (980,573 ) 980,573 0.72 — Share options exercised — (5,487,334 ) 1.64 — Share options canceled 162,403 (162,403 ) 2.70 — Equity awards granted in relation to business combination (1,225,691 ) — — — Repurchase of early exercised options 18,750 — — — Balance as of June 30, 2017 21,597,913 4,642,661 $ 2.21 12,417,473 Increase in shares authorized: 2015 Plan 11,423,916 — — — RSUs granted (4,390,298 ) — — 4,390,298 RSUs canceled 1,951,289 — — (1,951,289 ) RSUs settled — — — (5,253,809 ) Share options exercised — (1,902,084 ) 1.93 — Share options canceled 17,395 (17,395 ) 1.45 — Balance as of June 30, 2018 30,600,215 2,723,182 2.41 9,602,673 Share options vested and exercisable as of June 30, 2017 — 3,074,737 $ 2.31 Share options vested and exercisable as of June 30, 2018 — 1,983,464 $ 2.50 |
Schedule of range of exercise prices of outstanding share options | The following table summarizes information about share options outstanding as of June 30, 2018 : Options Outstanding Options Exercisable Range of Number Weighted- Number Weighted- Weighted- $0.59 - 0.66 385,963 $ 0.63 162,945 $ 0.61 6.01 $1.14 - 1.59 212,391 1.35 123,296 1.50 2.07 $1.92 - 2.16 166,967 2.06 166,967 2.06 1.39 $2.40 - 2.92 740,363 2.46 740,363 2.46 1.86 $3.18 1,217,498 3.18 789,893 3.18 4.75 2,723,182 $ 2.41 1,983,464 $ 2.50 3.32 The following table summarizes information about share options outstanding as of June 30, 2017: Options Outstanding Options Exercisable Range of Number Weighted- Number Weighted- Weighted- $0.42 - 0.66 947,459 $ 0.61 354,112 $ 0.60 3.07 $1.14 - 1.59 405,667 1.36 260,611 1.47 2.72 $1.92 - 2.16 340,783 2.05 340,783 2.05 2.38 $2.40 - 2.92 1,310,942 2.46 1,302,133 2.45 2.86 $3.18 1,637,810 3.18 817,098 3.18 5.41 4,642,661 $ 2.21 3,074,737 $ 2.31 3.50 The following table summarizes information about the Class B ordinary share options outstanding as of June 30, 2017: Options Outstanding Options Exercisable Exercise Prices Number Weighted- Number Weighted- Weighted- $0.63 520,271 $ 0.63 520,271 $ 0.63 0.92 |
Schedule of number and weighted average remaining contractual life of outstanding share options | The following table summarizes information about share options outstanding as of June 30, 2018 : Options Outstanding Options Exercisable Range of Number Weighted- Number Weighted- Weighted- $0.59 - 0.66 385,963 $ 0.63 162,945 $ 0.61 6.01 $1.14 - 1.59 212,391 1.35 123,296 1.50 2.07 $1.92 - 2.16 166,967 2.06 166,967 2.06 1.39 $2.40 - 2.92 740,363 2.46 740,363 2.46 1.86 $3.18 1,217,498 3.18 789,893 3.18 4.75 2,723,182 $ 2.41 1,983,464 $ 2.50 3.32 The following table summarizes information about share options outstanding as of June 30, 2017: Options Outstanding Options Exercisable Range of Number Weighted- Number Weighted- Weighted- $0.42 - 0.66 947,459 $ 0.61 354,112 $ 0.60 3.07 $1.14 - 1.59 405,667 1.36 260,611 1.47 2.72 $1.92 - 2.16 340,783 2.05 340,783 2.05 2.38 $2.40 - 2.92 1,310,942 2.46 1,302,133 2.45 2.86 $3.18 1,637,810 3.18 817,098 3.18 5.41 4,642,661 $ 2.21 3,074,737 $ 2.31 3.50 The following table summarizes information about the Class B ordinary share options outstanding as of June 30, 2017: Options Outstanding Options Exercisable Exercise Prices Number Weighted- Number Weighted- Weighted- $0.63 520,271 $ 0.63 520,271 $ 0.63 0.92 |
Schedule of fair value valuation assumptions | The fair value of the share option grants were estimated on the date of grant using the Black-Scholes option pricing model with the following assumptions and fair value per share: Fiscal Year Ended June 30, 2018 2017 2016 Fair value of underlying shares n/a $28.16 n/a Exercise price n/a $0.59 - 1.14 n/a Expected volatility n/a 41% n/a Expected term (in years) n/a 4.5 - 6.0 n/a Risk-free interest rate n/a 1.9% n/a Dividend yield n/a —% n/a Weighted-average fair value per share option n/a $27.51 n/a |
Summary of Significant Accoun48
Summary of Significant Accounting Policies - Narrative (Details) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2018USD ($)segment | Jun. 30, 2017USD ($) | Jun. 30, 2016USD ($) | |
Significant Accounting Policies [Abstract] | |||
Number of operating segments | segment | 1 | ||
Number reporting segments | segment | 1 | ||
Number of cash generating units | 1 | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Additional revenue recognized resulting from adoption of new accounting standard | $ | $ 403,214 | $ 242,128 | $ 146,659 |
IFRS 15 Adjustment | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Additional revenue recognized resulting from adoption of new accounting standard | $ | $ 7,480 | $ 7,695 | |
Bottom of range | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Term of subscription-based arrangements | 1 month | ||
Top of range | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Term of subscription-based arrangements | 12 months |
Summary of Significant Accoun49
Summary of Significant Accounting Policies - Initial public offering (Details) $ / shares in Units, shares in Millions, $ in Millions | 1 Months Ended |
Dec. 31, 2015USD ($)$ / sharesshares | |
Number of shares issued [abstract] | |
Proceeds from issuance of ordinary shares upon initial public offering, net of offering costs | $ | $ 431.4 |
Price per share (USD per share) | $ / shares | $ 21 |
Ordinary shares | |
Number of shares issued [abstract] | |
Number of shares issued and sold (shares) | shares | 22 |
Summary of Significant Accoun50
Summary of Significant Accounting Policies - Property and equipment (Details) | 12 Months Ended |
Jun. 30, 2018 | |
Leasehold improvements | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives of property and equipment | 7 years |
Bottom of range | Equipment | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives of property and equipment | 3 years |
Bottom of range | Computer hardware and computer-related software | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives of property and equipment | 3 years |
Bottom of range | Furniture and fittings | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives of property and equipment | 5 years |
Top of range | Equipment | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives of property and equipment | 5 years |
Top of range | Computer hardware and computer-related software | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives of property and equipment | 5 years |
Top of range | Furniture and fittings | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives of property and equipment | 10 years |
Summary of Significant Accoun51
Summary of Significant Accounting Policies - Intangible assets (Details) | 12 Months Ended |
Jun. 30, 2018 | |
Bottom of range | Patents, trademarks and other rights | |
Disclosure of detailed information about intangible assets [line items] | |
Estimated useful lives of intangible assets | 2 years |
Bottom of range | Customer relationships | |
Disclosure of detailed information about intangible assets [line items] | |
Estimated useful lives of intangible assets | 2 years |
Bottom of range | Acquired developed technology | |
Disclosure of detailed information about intangible assets [line items] | |
Estimated useful lives of intangible assets | 3 years |
Top of range | Patents, trademarks and other rights | |
Disclosure of detailed information about intangible assets [line items] | |
Estimated useful lives of intangible assets | 7 years |
Top of range | Customer relationships | |
Disclosure of detailed information about intangible assets [line items] | |
Estimated useful lives of intangible assets | 4 years |
Top of range | Acquired developed technology | |
Disclosure of detailed information about intangible assets [line items] | |
Estimated useful lives of intangible assets | 10 years |
Summary of Significant Accoun52
Summary of Significant Accounting Policies - Initial application of new standards (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | |
Revenues: | |||
Subscription | $ 403,214 | $ 242,128 | $ 146,659 |
Maintenance | 325,898 | 265,521 | 218,848 |
Perpetual license | 85,481 | 74,565 | 65,487 |
Other | 59,357 | 37,722 | 26,064 |
Total revenues | 873,950 | 619,936 | 457,058 |
Total operating expenses | 755,008 | 563,861 | 387,155 |
Operating loss | (53,748) | (63,086) | (5,880) |
Income tax benefit (expense) | (53,507) | 17,148 | 9,280 |
Net loss | (119,341) | (42,504) | $ 4,373 |
Current assets: | |||
Prepaid expenses and other current assets | 28,219 | 23,317 | |
Non-current assets: | |||
Deferred tax assets | 64,662 | 188,239 | |
Other non-current assets | 112,221 | 9,269 | |
Current liabilities: | |||
Deferred revenue | 340,834 | 245,306 | |
Non-current liabilities: | |||
Deferred tax liabilities | 12,051 | 43,950 | |
Deferred revenue | 19,386 | 10,691 | |
Accumulated deficit | (142,570) | (23,229) | |
IFRS 15 Adjustment | |||
Revenues: | |||
Subscription | 7,480 | 7,695 | |
Maintenance | 613 | (1,068) | |
Perpetual license | (2,310) | (507) | |
Other | 1,245 | 628 | |
Total revenues | 7,028 | 6,748 | |
Total operating expenses | (675) | (504) | |
Operating loss | 7,703 | 7,252 | |
Income tax benefit (expense) | (1,794) | (2,197) | |
Net loss | 5,909 | 5,055 | |
Current assets: | |||
Prepaid expenses and other current assets | 1,576 | 822 | |
Non-current assets: | |||
Deferred tax assets | (5,442) | (3,341) | |
Other non-current assets | 1,180 | 778 | |
Current liabilities: | |||
Deferred revenue | (16,440) | (10,541) | |
Non-current liabilities: | |||
Deferred tax liabilities | 109 | 416 | |
Deferred revenue | (909) | (261) | |
Accumulated deficit | 14,554 | 8,645 | |
As Adjusted | |||
Revenues: | |||
Subscription | 410,694 | 249,823 | |
Maintenance | 326,511 | 264,453 | |
Perpetual license | 83,171 | 74,058 | |
Other | 60,602 | 38,350 | |
Total revenues | 880,978 | 626,684 | |
Total operating expenses | 754,333 | 563,357 | |
Operating loss | (46,045) | (55,834) | |
Income tax benefit (expense) | (55,301) | 14,951 | |
Net loss | (113,432) | (37,449) | |
Current assets: | |||
Prepaid expenses and other current assets | 29,795 | 24,139 | |
Non-current assets: | |||
Deferred tax assets | 59,220 | 184,898 | |
Other non-current assets | 113,401 | 10,047 | |
Current liabilities: | |||
Deferred revenue | 324,394 | 234,765 | |
Non-current liabilities: | |||
Deferred tax liabilities | 12,160 | 44,366 | |
Deferred revenue | 18,477 | 10,430 | |
Accumulated deficit | $ (128,016) | $ (14,584) |
Financial Risk Management - Nar
Financial Risk Management - Narrative (Details) - USD ($) $ in Thousands | 12 Months Ended | ||||
Jun. 30, 2018 | Jun. 30, 2017 | May 02, 2018 | Jun. 30, 2016 | Jun. 30, 2015 | |
Disclosure of financial assets [line items] | |||||
Period during which cash flow hedges hedge cost of revenues and operating expenses (up to) | 18 months | ||||
Cash and cash equivalents | $ 1,410,339 | $ 244,420 | $ 259,709 | $ 187,094 | |
Short-term investments | 323,134 | 305,499 | |||
Certificates of deposit and time deposits | $ 5,248 | 4,803 | |||
Bottom of range | |||||
Disclosure of financial assets [line items] | |||||
Period to remit payment according to credit policy | 30 days | ||||
Top of range | |||||
Disclosure of financial assets [line items] | |||||
Period to remit payment according to credit policy | 45 days | ||||
Other non-current assets | |||||
Disclosure of financial assets [line items] | |||||
Certificates of deposit and time deposits | $ 3,600 | $ 4,200 | |||
Notes | |||||
Disclosure of financial assets [line items] | |||||
Debt instruments issued | 819,637 | $ 1,000,000 | |||
Notes | Principal amount | |||||
Disclosure of financial assets [line items] | |||||
Debt instruments issued | $ 1,000,000 | ||||
Notes | Derivatives | Level 3 | Bottom of range | |||||
Disclosure of financial assets [line items] | |||||
Stock price volatility, derivative liability (as a percent) | 32.70% | ||||
Notes | Derivatives | Level 3 | Top of range | |||||
Disclosure of financial assets [line items] | |||||
Stock price volatility, derivative liability (as a percent) | 36300.00% | ||||
Capped Call Transactions | Derivatives | Level 3 | Bottom of range | |||||
Disclosure of financial assets [line items] | |||||
Stock price volatility, derivative assets (as a percent) | 32.70% | ||||
Capped Call Transactions | Derivatives | Level 3 | Top of range | |||||
Disclosure of financial assets [line items] | |||||
Stock price volatility, derivative assets (as a percent) | 36.30% | ||||
Foreign exchange risk | U.S. dollar | |||||
Disclosure of financial assets [line items] | |||||
Hypothetical increase in risk variable (as a percent) | 10.00% | 10.00% | |||
Hypothetical decrease in risk variable (as a percent) | 10.00% | 10.00% | |||
Foreign exchange risk | Foreign exchange forward contracts | U.S. dollar | |||||
Disclosure of financial assets [line items] | |||||
Decrease in fair value that would result from strengthening of the U.S. dollar | $ 18,800 | ||||
Increase in fair value that would result from strengthening of the U.S. dollar | $ 18,800 | $ 11,300 | |||
Share price risk | Notes | Derivatives | |||||
Disclosure of financial assets [line items] | |||||
Hypothetical increase in risk variable (as a percent) | 10.00% | ||||
Decrease in fair value that would result from strengthening of the U.S. dollar | $ 43,000 | ||||
Hypothetical decrease in risk variable (as a percent) | 10.00% | ||||
Increase in fair value that would result from strengthening of the U.S. dollar | $ 46,700 | ||||
Share price risk | Capped Call Transactions | Derivatives | |||||
Disclosure of financial assets [line items] | |||||
Hypothetical increase in risk variable (as a percent) | 10.00% | ||||
Decrease in fair value that would result from strengthening of the U.S. dollar | $ 16,200 | ||||
Hypothetical decrease in risk variable (as a percent) | 10.00% | ||||
Increase in fair value that would result from strengthening of the U.S. dollar | $ 15,900 | ||||
Share price risk | Capped Call Transactions | Derivatives | Derivatives | |||||
Disclosure of financial assets [line items] | |||||
Hypothetical increase in risk variable (as a percent) | 10.00% | ||||
Hypothetical increase in risk variable, additional loss | $ 23,500 | ||||
Interest rate risk | Short-term investments | |||||
Disclosure of financial assets [line items] | |||||
Hypothetical increase in risk variable (as a percent) | 1.00% | 1.00% | |||
Decrease in fair value that would result from strengthening of the U.S. dollar | $ 1,700 | $ 2,000 |
Financial Risk Management - Con
Financial Risk Management - Contractual maturities of financial liabilities (Details) - Liquidity risk - USD ($) $ in Thousands | Jun. 30, 2018 | Jun. 30, 2017 |
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Trade and other payables | $ 113,105 | $ 73,192 |
Exchangeable senior notes, net | 1,000,000 | |
Other non-current liabilities | 4,969 | |
Financial liabilities | 1,113,105 | 78,161 |
Up to 12 Months | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Trade and other payables | 113,105 | 73,192 |
Exchangeable senior notes, net | 0 | |
Other non-current liabilities | 0 | |
Financial liabilities | 113,105 | 73,192 |
Greater than 12 Months | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Trade and other payables | 0 | 0 |
Exchangeable senior notes, net | 1,000,000 | |
Other non-current liabilities | 4,969 | |
Financial liabilities | $ 1,000,000 | $ 4,969 |
Financial Risk Management - Fin
Financial Risk Management - Financial assets measured at fair value (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Jun. 30, 2017 |
Investments | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | $ 327,640 | $ 309,952 |
Investments | U.S. treasury securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 52,809 | 61,760 |
Investments | Agency securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 22,097 | 16,740 |
Investments | Certificates of deposit and time deposits | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 58,824 | 44,101 |
Investments | Commercial paper | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 35,372 | 33,928 |
Investments | Corporate debt securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 158,538 | 148,634 |
Investments | Municipal securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 4,789 | |
At fair value | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 1,177,460 | 394,258 |
Financial liabilities | 207,970 | |
At fair value | Derivatives | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial liabilities | 5,417 | |
At fair value | Derivatives | Notes Embedded Exchange Derivative | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial liabilities | 202,553 | |
At fair value | Cash and cash equivalents | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 750,671 | 81,313 |
At fair value | Cash and cash equivalents | Money market funds | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 693,596 | 78,564 |
At fair value | Cash and cash equivalents | Commercial paper | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 29,118 | 2,749 |
At fair value | Cash and cash equivalents | Agency securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 7,989 | |
At fair value | Cash and cash equivalents | Corporate debt securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 1,000 | |
At fair value | Cash and cash equivalents | U.S. treasury securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 18,968 | |
At fair value | Investments | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 326,794 | 309,693 |
At fair value | Investments | U.S. treasury securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 52,700 | 61,676 |
At fair value | Investments | Agency securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 22,015 | 16,654 |
At fair value | Investments | Certificates of deposit and time deposits | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 58,824 | 44,101 |
At fair value | Investments | Commercial paper | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 35,372 | 33,928 |
At fair value | Investments | Corporate debt securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 157,883 | 148,546 |
At fair value | Investments | Municipal securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 0 | 4,788 |
At fair value | Derivatives | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 63 | 3,252 |
At fair value | Derivatives | Capped Call Transactions | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 99,932 | |
At fair value | Level 1 | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 693,596 | 78,564 |
Financial liabilities | 0 | |
At fair value | Level 1 | Derivatives | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial liabilities | 0 | |
At fair value | Level 1 | Derivatives | Notes Embedded Exchange Derivative | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial liabilities | 0 | |
At fair value | Level 1 | Cash and cash equivalents | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 693,596 | 78,564 |
At fair value | Level 1 | Cash and cash equivalents | Money market funds | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 693,596 | 78,564 |
At fair value | Level 1 | Cash and cash equivalents | Commercial paper | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 0 | 0 |
At fair value | Level 1 | Cash and cash equivalents | Agency securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 0 | |
At fair value | Level 1 | Cash and cash equivalents | Corporate debt securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 0 | |
At fair value | Level 1 | Cash and cash equivalents | U.S. treasury securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 0 | |
At fair value | Level 1 | Investments | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 0 | 0 |
At fair value | Level 1 | Investments | U.S. treasury securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 0 | 0 |
At fair value | Level 1 | Investments | Agency securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 0 | 0 |
At fair value | Level 1 | Investments | Certificates of deposit and time deposits | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 0 | 0 |
At fair value | Level 1 | Investments | Commercial paper | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 0 | 0 |
At fair value | Level 1 | Investments | Corporate debt securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 0 | 0 |
At fair value | Level 1 | Investments | Municipal securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 0 | 0 |
At fair value | Level 1 | Derivatives | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 0 | 0 |
At fair value | Level 1 | Derivatives | Capped Call Transactions | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 0 | |
At fair value | Level 2 | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 383,932 | 315,694 |
Financial liabilities | 5,417 | |
At fair value | Level 2 | Derivatives | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial liabilities | 5,417 | |
At fair value | Level 2 | Derivatives | Notes Embedded Exchange Derivative | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial liabilities | 0 | |
At fair value | Level 2 | Cash and cash equivalents | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 57,075 | 2,749 |
At fair value | Level 2 | Cash and cash equivalents | Money market funds | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 0 | 0 |
At fair value | Level 2 | Cash and cash equivalents | Commercial paper | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 29,118 | 2,749 |
At fair value | Level 2 | Cash and cash equivalents | Agency securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 7,989 | |
At fair value | Level 2 | Cash and cash equivalents | Corporate debt securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 1,000 | |
At fair value | Level 2 | Cash and cash equivalents | U.S. treasury securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 18,968 | |
At fair value | Level 2 | Investments | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 326,794 | 309,693 |
At fair value | Level 2 | Investments | U.S. treasury securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 52,700 | 61,676 |
At fair value | Level 2 | Investments | Agency securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 22,015 | 16,654 |
At fair value | Level 2 | Investments | Certificates of deposit and time deposits | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 58,824 | 44,101 |
At fair value | Level 2 | Investments | Commercial paper | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 35,372 | 33,928 |
At fair value | Level 2 | Investments | Corporate debt securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 157,883 | 148,546 |
At fair value | Level 2 | Investments | Municipal securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 0 | 4,788 |
At fair value | Level 2 | Derivatives | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 63 | 3,252 |
At fair value | Level 2 | Derivatives | Capped Call Transactions | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 0 | |
At fair value | Level 3 | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 99,932 | 0 |
Financial liabilities | 202,553 | |
At fair value | Level 3 | Derivatives | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial liabilities | 0 | |
At fair value | Level 3 | Derivatives | Notes Embedded Exchange Derivative | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial liabilities | 202,553 | |
At fair value | Level 3 | Cash and cash equivalents | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 0 | 0 |
At fair value | Level 3 | Cash and cash equivalents | Money market funds | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 0 | 0 |
At fair value | Level 3 | Cash and cash equivalents | Commercial paper | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 0 | 0 |
At fair value | Level 3 | Cash and cash equivalents | Agency securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 0 | |
At fair value | Level 3 | Cash and cash equivalents | Corporate debt securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 0 | |
At fair value | Level 3 | Cash and cash equivalents | U.S. treasury securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 0 | |
At fair value | Level 3 | Investments | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 0 | 0 |
At fair value | Level 3 | Investments | U.S. treasury securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 0 | 0 |
At fair value | Level 3 | Investments | Agency securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 0 | 0 |
At fair value | Level 3 | Investments | Certificates of deposit and time deposits | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 0 | 0 |
At fair value | Level 3 | Investments | Commercial paper | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 0 | 0 |
At fair value | Level 3 | Investments | Corporate debt securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 0 | 0 |
At fair value | Level 3 | Investments | Municipal securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 0 | 0 |
At fair value | Level 3 | Derivatives | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 0 | $ 0 |
At fair value | Level 3 | Derivatives | Capped Call Transactions | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | $ 99,932 |
Financial Risk Management - Cha
Financial Risk Management - Change in derivative balances (Details) $ in Thousands | 12 Months Ended |
Jun. 30, 2018USD ($) | |
Derivatives | Notes Embedded Exchange Derivative | Other non-current liabilities | |
Disclosure of detailed information about financial instruments [line items] | |
Derivative Liability, Balance as of June 30, 2017 | $ 0 |
Derivative Liability, Additions | (177,907) |
Changes in unrealized gains (losses) | (24,646) |
Derivative Liability, Balance as of June 30, 2018 | (202,553) |
Derivatives | Capped Call Transactions | Other non-current assets | |
Disclosure of detailed information about financial instruments [line items] | |
Derivative Asset, Balance as of June 30, 2017 | 99,932 |
Derivative Asset, Additions | 87,700 |
Changes in unrealized gains (losses) | 12,232 |
Derivative Asset, Balance as of June 30, 2018 | $ 0 |
Financial Risk Management - Inv
Financial Risk Management - Investments measured at fair value (Details) - Investments - USD ($) $ in Thousands | Jun. 30, 2018 | Jun. 30, 2017 |
Disclosure of financial assets [line items] | ||
Amortized Cost | $ 327,640 | $ 309,952 |
Unrealized Gains | 14 | 52 |
Unrealized Losses | (860) | (311) |
Fair Value | 326,794 | 309,693 |
U.S. treasury securities | ||
Disclosure of financial assets [line items] | ||
Amortized Cost | 52,809 | 61,760 |
Unrealized Gains | 0 | 0 |
Unrealized Losses | (109) | (84) |
Fair Value | 52,700 | 61,676 |
Agency securities | ||
Disclosure of financial assets [line items] | ||
Amortized Cost | 22,097 | 16,740 |
Unrealized Gains | 0 | 0 |
Unrealized Losses | (82) | (86) |
Fair Value | 22,015 | 16,654 |
Certificates of deposit and time deposits | ||
Disclosure of financial assets [line items] | ||
Amortized Cost | 58,824 | 44,101 |
Unrealized Gains | 0 | 0 |
Unrealized Losses | 0 | 0 |
Fair Value | 58,824 | 44,101 |
Commercial paper | ||
Disclosure of financial assets [line items] | ||
Amortized Cost | 35,372 | 33,928 |
Unrealized Gains | 0 | 0 |
Unrealized Losses | 0 | 0 |
Fair Value | 35,372 | 33,928 |
Corporate debt securities | ||
Disclosure of financial assets [line items] | ||
Amortized Cost | 158,538 | 148,634 |
Unrealized Gains | 14 | 52 |
Unrealized Losses | (669) | (140) |
Fair Value | $ 157,883 | 148,546 |
Municipal securities | ||
Disclosure of financial assets [line items] | ||
Amortized Cost | 4,789 | |
Unrealized Gains | 0 | |
Unrealized Losses | (1) | |
Fair Value | $ 4,788 |
Financial Risk Management - I58
Financial Risk Management - Investments by remaining contractual maturity (Details) - Investments - USD ($) $ in Thousands | Jun. 30, 2018 | Jun. 30, 2017 |
Disclosure of financial assets [line items] | ||
Total investments | $ 326,794 | $ 309,693 |
Due in one year or less | ||
Disclosure of financial assets [line items] | ||
Total investments | 277,087 | 223,562 |
Due after one year | ||
Disclosure of financial assets [line items] | ||
Total investments | $ 49,707 | $ 86,131 |
Financial Risk Management - Fai
Financial Risk Management - Fair value of derivative instruments (Details) - Foreign exchange forward contracts - Foreign exchange risk - USD ($) $ in Thousands | Jun. 30, 2018 | Jun. 30, 2017 |
Derivative assets | ||
Total derivative assets | $ 63 | $ 3,252 |
Derivative liabilities | ||
Total derivative liabilities | 5,417 | 0 |
Prepaid expenses and other current assets | ||
Derivative assets | ||
Derivatives designated as hedging instruments | 39 | 2,915 |
Derivatives not designated as hedging instruments | 21 | 88 |
Other non-current assets | ||
Derivative assets | ||
Derivatives designated as hedging instruments | 3 | 249 |
Trade and other payables | ||
Derivative liabilities | ||
Derivatives designated as hedging instruments | 5,006 | 0 |
Derivatives not designated as hedging instruments | 207 | 0 |
Other non-current liabilities | ||
Derivative liabilities | ||
Derivatives designated as hedging instruments | $ 204 | $ 0 |
Financial Risk Management - Not
Financial Risk Management - Notional amounts of derivative instruments (Details) - Foreign exchange forward contracts - USD ($) $ in Thousands | Jun. 30, 2018 | Jun. 30, 2017 |
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Derivative, notional amount | $ 201,125 | $ 109,177 |
Non Hedge | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Derivative, notional amount | 20,227 | 9,515 |
Cash Flow Hedge | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Derivative, notional amount | 180,898 | 99,662 |
Under 12 months | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Derivative, notional amount | 188,633 | 100,470 |
Over 12 months | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Derivative, notional amount | $ 12,492 | $ 8,707 |
Financial Risk Management - Eff
Financial Risk Management - Effects of derivatives designated as hedging instruments on consolidated financial statements (Details) - Foreign Exchange Forward Contracts - Cash Flow Hedge - Designated as Hedging Instrument - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Disclosure of information about amounts that affected statement of comprehensive income as result of hedge accounting [line items] | ||
Gross unrealized gain (loss) recognized in other comprehensive income | $ (5,730) | $ 4,517 |
Net gain reclassified from cash flow hedge reserve into profit or loss - effective portion | 2,599 | 1,356 |
Gain (loss) recognized into profit or loss - ineffective portion | $ 12 | $ (3) |
Other Non-operating Income (E62
Other Non-operating Income (Expense), Net (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | |
Disclosure of additional information [Abstract] | |||
Exchange derivative allocated issuance costs | $ (1,785) | $ 0 | $ 0 |
Net unrealized loss on exchange derivative and capped calls | (12,414) | 0 | 0 |
Foreign currency exchange gain (loss), net | (413) | (93) | 376 |
Contributions to Atlassian Foundation | (1,856) | (1,620) | (1,463) |
Other income | 1,311 | 371 | 15 |
Other non-operating income (expense), net | $ (15,157) | $ (1,342) | $ (1,072) |
Expenses (Details)
Expenses (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | |
Disclosure of Non-Financial Assets [Line Items] | |||
Total depreciation | $ 22,157 | $ 31,690 | $ 14,435 |
Total amortization | 57,278 | 29,856 | 7,491 |
Total depreciation and amortization | 79,435 | 61,546 | 21,926 |
Employee benefits expense: | |||
Salaries and wages | 273,326 | 201,953 | 149,506 |
Variable compensation | 33,067 | 19,260 | 14,260 |
Payroll taxes | 30,478 | 20,792 | 14,250 |
Share-based payment expense | 162,873 | 137,448 | 75,480 |
Defined contribution plan expense | 16,839 | 13,041 | 10,105 |
Contractor expense | 23,666 | 16,333 | 18,352 |
Other | 44,877 | 34,605 | 31,946 |
Total employee benefits expense | 585,126 | 443,432 | 313,899 |
Equipment | |||
Disclosure of Non-Financial Assets [Line Items] | |||
Total depreciation | 1,214 | 1,022 | 762 |
Computer hardware and software | |||
Disclosure of Non-Financial Assets [Line Items] | |||
Total depreciation | 11,543 | 23,729 | 9,537 |
Furniture and fittings | |||
Disclosure of Non-Financial Assets [Line Items] | |||
Total depreciation | 1,485 | 1,016 | 720 |
Leasehold improvements | |||
Disclosure of Non-Financial Assets [Line Items] | |||
Total depreciation | 7,915 | 5,923 | 3,416 |
Patents and trademarks | |||
Disclosure of Non-Financial Assets [Line Items] | |||
Total amortization | 6,990 | 2,907 | 31 |
Customer relationships | |||
Disclosure of Non-Financial Assets [Line Items] | |||
Total amortization | 29,100 | 12,361 | 55 |
Acquired developed technology | |||
Disclosure of Non-Financial Assets [Line Items] | |||
Total amortization | $ 21,188 | $ 14,588 | $ 7,405 |
Income Tax - Major components o
Income Tax - Major components of income tax benefit (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | |
Current income tax: | |||
Current income tax charge | $ (1,956) | $ (11,518) | $ (6,475) |
Adjustments in respect to current income tax of previous years | (48) | (25) | 989 |
Deferred tax: | |||
Benefit (expense) relating to origination and reversal of temporary differences | (18,140) | 28,061 | 17,041 |
Adjustments in respect to deferred income tax of previous years | (33,363) | 630 | (2,275) |
Income tax benefit (expense) | $ (53,507) | $ 17,148 | $ 9,280 |
Income Tax - Reconciliation of
Income Tax - Reconciliation of income tax benefit (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | |
Income Taxes [Abstract] | |||
Accounting profit | $ (65,834) | $ (59,652) | $ (4,907) |
Loss before income tax benefit (expense) | (65,834) | (59,652) | (4,907) |
At the United Kingdom's statutory income tax rate of 19%, 19.75%, and 20.00% in fiscal 2018, 2017 and 2016, respectively | $ 12,508 | $ 11,781 | $ 983 |
At the United Kingdom's statutory income tax rate of 19%, 19.75%, and 20.00% in fiscal 2018, 2017 and 2016, respectively | 19.00% | 19.75% | 20.00% |
Tax effect of amounts that are not taxable (deductible) in calculating taxable income: | |||
Research and development incentive | $ 2,620 | $ 18,404 | $ 20,673 |
Non-deductible charges relating to exchangeable senior notes | (3,195) | 0 | 0 |
Share-based payment | (11,199) | (9,946) | (6,317) |
Foreign tax credits not utilized | (81) | 0 | (4,011) |
Amortization of intangible assets that do not give rise to deferred taxes | (31) | (673) | (907) |
Non-deductible retention on acquisition | 0 | (150) | (405) |
Non-assessable non-operating items | 0 | 0 | 7,995 |
Foreign tax rate adjustment | (4,968) | (1,990) | (7,341) |
Adjustment to deferred tax balance | (14,602) | (332) | 150 |
Other items, net | (1,148) | (551) | (254) |
Income tax benefit (expense) before adjustments in respect to current and deferred tax of previous years | (20,096) | 16,543 | 10,566 |
Adjustments in respect to current income tax of previous years | (48) | (25) | 989 |
Adjustments in respect to deferred income tax of previous years | (33,363) | 630 | (2,275) |
Income tax benefit (expense) | $ (53,507) | $ 17,148 | $ 9,280 |
Income Tax - Reconciliation o66
Income Tax - Reconciliation of deferred tax assets, net (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Reflected in the consolidated statements of financial position as follows: | ||||
Deferred tax assets, net | $ 144,289 | $ 120,773 | $ 52,611 | $ 144,289 |
Deferred tax benefit | (51,503) | 28,692 | ||
Deferred tax assets | 64,662 | 188,239 | ||
Deferred tax liabilities | (12,051) | (43,950) | ||
Items for which no deferred tax asset has been recognized: | ||||
Depreciation and amortization for tax purposes | 2,081 | 0 | ||
Provisions, accruals and prepayments | 3,514 | 0 | ||
Deferred revenue | 22,541 | 0 | ||
Unrealized foreign currency exchange gains | 132 | 0 | ||
Unused tax losses | 166,465 | 2,022 | ||
Intangible assets | 2,052,484 | 0 | ||
Tax benefit from share plans- income | 30,114 | 0 | ||
Tax benefit from share plans- equity | 62,760 | 0 | ||
Capital loss | 1,391 | 1,391 | ||
Carried forward tax credits- credited to profit and loss | 25,524 | 3,587 | ||
Unrealized loss on investments | 160 | 51 | ||
Other, net | 1,121 | 0 | ||
Items for which no deferred tax assets is recognized | 2,368,287 | 7,051 | ||
Reconciliation of deferred tax assets, net | ||||
Balance as of July 1, | 144,289 | 120,773 | ||
Deferred tax charge (benefit) for the year | (51,503) | 28,692 | ||
Debited (credited) to equity | (40,091) | 34,517 | ||
Adjustment in respect of income tax payable | (84) | (7,282) | ||
Impact from business combinations | 0 | (32,411) | ||
Balance as of June 30, | 52,611 | 144,289 | ||
Depreciation for tax purposes | ||||
Reflected in the consolidated statements of financial position as follows: | ||||
Deferred tax assets, net | 1,122 | 1,122 | 2,537 | 1,122 |
Deferred tax benefit | 1,415 | 4,331 | ||
Reconciliation of deferred tax assets, net | ||||
Balance as of July 1, | 1,122 | |||
Balance as of June 30, | 2,537 | 1,122 | ||
Provisions, accruals and prepayments | ||||
Reflected in the consolidated statements of financial position as follows: | ||||
Deferred tax assets, net | 7,560 | 7,560 | 7,349 | 7,560 |
Deferred tax benefit | (211) | 1,795 | ||
Reconciliation of deferred tax assets, net | ||||
Balance as of July 1, | 7,560 | |||
Balance as of June 30, | 7,349 | 7,560 | ||
Deferred revenue | ||||
Reflected in the consolidated statements of financial position as follows: | ||||
Deferred tax assets, net | 15,275 | 15,275 | 28,093 | 15,275 |
Deferred tax benefit | 12,818 | 11,621 | ||
Reconciliation of deferred tax assets, net | ||||
Balance as of July 1, | 15,275 | |||
Balance as of June 30, | 28,093 | 15,275 | ||
Unrealized foreign currency exchange gains | ||||
Reflected in the consolidated statements of financial position as follows: | ||||
Deferred tax assets, net | (184) | (184) | (410) | (184) |
Deferred tax benefit | (226) | 0 | ||
Reconciliation of deferred tax assets, net | ||||
Balance as of July 1, | (184) | |||
Balance as of June 30, | (410) | (184) | ||
Carried forward tax losses (gains) | ||||
Reflected in the consolidated statements of financial position as follows: | ||||
Deferred tax assets, net | 35,071 | 35,071 | 850 | 35,071 |
Deferred tax benefit | (34,221) | 29,729 | ||
Reconciliation of deferred tax assets, net | ||||
Balance as of July 1, | 35,071 | |||
Balance as of June 30, | 850 | 35,071 | ||
Carried forward tax credits—credited to profit and loss | ||||
Reflected in the consolidated statements of financial position as follows: | ||||
Deferred tax assets, net | 46,412 | 46,412 | 5,456 | 46,412 |
Deferred tax benefit | (41,546) | 9,709 | ||
Reconciliation of deferred tax assets, net | ||||
Balance as of July 1, | 46,412 | |||
Balance as of June 30, | 5,456 | 46,412 | ||
Intangible assets | ||||
Reflected in the consolidated statements of financial position as follows: | ||||
Deferred tax assets, net | (34,060) | (34,060) | 16,620 | (34,060) |
Deferred tax benefit | 50,680 | 9,091 | ||
Reconciliation of deferred tax assets, net | ||||
Balance as of July 1, | (34,060) | |||
Balance as of June 30, | 16,620 | (34,060) | ||
Tax benefit (expense) from share plans—income | ||||
Reflected in the consolidated statements of financial position as follows: | ||||
Deferred tax assets, net | 30,597 | 30,597 | 216 | 30,597 |
Deferred tax benefit | (30,379) | 10,695 | ||
Reconciliation of deferred tax assets, net | ||||
Balance as of July 1, | 30,597 | |||
Balance as of June 30, | 216 | 30,597 | ||
Tax benefit (expense) from share plans—equity | ||||
Reflected in the consolidated statements of financial position as follows: | ||||
Deferred tax assets, net | 42,846 | 42,846 | 127 | 42,846 |
Deferred tax benefit | (123) | (48,012) | ||
Reconciliation of deferred tax assets, net | ||||
Balance as of July 1, | 42,846 | |||
Balance as of June 30, | 127 | 42,846 | ||
Deferred foreign taxes | ||||
Reflected in the consolidated statements of financial position as follows: | ||||
Deferred tax assets, net | 0 | 0 | (10,605) | 0 |
Deferred tax benefit | (10,605) | 0 | ||
Reconciliation of deferred tax assets, net | ||||
Balance as of July 1, | 0 | |||
Balance as of June 30, | (10,605) | 0 | ||
Other, net | ||||
Reflected in the consolidated statements of financial position as follows: | ||||
Deferred tax assets, net | (350) | (350) | $ 2,378 | $ (350) |
Deferred tax benefit | 895 | (267) | ||
Reconciliation of deferred tax assets, net | ||||
Balance as of July 1, | (350) | |||
Balance as of June 30, | $ 2,378 | $ (350) |
Income Tax - Narrative (Details
Income Tax - Narrative (Details) - USD ($) $ in Thousands | 1 Months Ended | 12 Months Ended | |
Dec. 31, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Non-cash charges related to tax expense as result of new U.S. federal statutory rate | $ 16,900 | ||
Non-cash charges to equity related to tax expense as result of new U.S. federal statutory rate | 16,900 | ||
Net deferred tax—credited (debited) directly to equity | (40,091) | $ 34,517 | |
Unused tax losses | 166,465 | 2,022 | |
Adjustment in respect of income taxes payable | 84 | 7,282 | |
Recognized deferred tax (assets) liabilities as result of business combination | $ 0 | 32,411 | |
United States | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Non-cash charges to tax expense for realizability of deferred tax assets as result of new U.S. federal statutory rate | $ 30,400 | ||
Net deferred tax—credited (debited) directly to equity | (25,800) | ||
Other jurisdictions | U.S. | Intellectual property rights | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Unused tax losses | $ 2,100,000 | ||
StatusPage | Tax losses for carry forward | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Recognized deferred tax (assets) liabilities as result of business combination | (500) | ||
StatusPage | Acquired intangibles | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Recognized deferred tax (assets) liabilities as result of business combination | 3,100 | ||
Trello | Tax losses for carry forward | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Recognized deferred tax (assets) liabilities as result of business combination | (13,600) | ||
Trello | Acquired intangibles | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Recognized deferred tax (assets) liabilities as result of business combination | $ 45,300 |
Income Tax - Current and net de
Income Tax - Current and net deferred tax recognized directly in equity (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Income Taxes [Abstract] | ||
Current tax—credited (debited) directly to equity | $ 0 | $ 401 |
Net deferred tax—credited (debited) directly to equity | (40,091) | 34,517 |
Current and deferred tax recognized directly in equity | $ (40,091) | $ 34,918 |
Income Tax - Losses and credits
Income Tax - Losses and credits available for offsetting future profit and taxes (Details) $ in Thousands | Jun. 30, 2018USD ($) |
United States | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Net operating loss, amount carried forward | $ 762,682 |
Net operating loss, amount recognized | 3,774 |
United Kingdom | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Net operating loss, amount carried forward | 1,790 |
Net operating loss, amount recognized | 304 |
California | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Net operating loss, amount carried forward | 110,770 |
Net operating loss, amount recognized | 1,879 |
Research and development carryforward | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Tax credits, amount carried forward | 1,617 |
Tax credits, amounts recognized | 1,557 |
Research and development carryforward | United States | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Tax credits, amount carried forward | 18,211 |
Tax credits, amounts recognized | 121 |
Research and development carryforward | California | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Tax credits, amount carried forward | 6,672 |
Tax credits, amounts recognized | 0 |
Research and development carryforward | Australia | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Tax credits, amount carried forward | 3,778 |
Tax credits, amounts recognized | 3,778 |
Capital loss carryforward | Australia | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Tax credits, amount carried forward | 4,637 |
Tax credits, amounts recognized | 0 |
Zone credits carryforward | California | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Tax credits, amount carried forward | 867 |
Tax credits, amounts recognized | $ 0 |
Trade Receivables - Trade recei
Trade Receivables - Trade receivables (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 |
Disclosure of detailed information about financial instruments [line items] | |||
Trade receivables | $ 46,141 | $ 26,807 | |
Gross carrying amount | |||
Disclosure of detailed information about financial instruments [line items] | |||
Trade receivables | 46,770 | 26,923 | |
Trade receivables | |||
Disclosure of detailed information about financial instruments [line items] | |||
Provision for impairment of receivables | $ (629) | $ (116) | $ 0 |
Trade Receivables - Narrative (
Trade Receivables - Narrative (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | |
Trade receivables | |||
Disclosure of detailed information about financial instruments [line items] | |||
Provision for impairment of receivables | $ 629 | $ 116 | $ 0 |
Trade receivables | Customer Concentration Risk | Channel partner | |||
Disclosure of detailed information about financial instruments [line items] | |||
Concentration risk, percentage | 11.00% | ||
Trade receivables | Customer One | Customer Concentration Risk | Channel partner | |||
Disclosure of detailed information about financial instruments [line items] | |||
Concentration risk, percentage | 15.00% | ||
Trade receivables | Customer Two | Customer Concentration Risk | Channel partner | |||
Disclosure of detailed information about financial instruments [line items] | |||
Concentration risk, percentage | 10.00% |
Trade Receivables - Impaired tr
Trade Receivables - Impaired trade receivables (Details) - Trade receivables - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Changes in allowance account for credit losses of financial assets [abstract] | ||
Provision for impairment of receivables, beginning of period | $ 116 | $ 0 |
Charge for the period | 513 | 116 |
Provision for impairment of receivables, end of period | $ 629 | $ 116 |
Trade Receivables - Past due bu
Trade Receivables - Past due but not impaired (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Jun. 30, 2017 |
Disclosure of financial assets that are either past due or impaired [line items] | ||
Trade receivables | $ 46,141 | $ 26,807 |
Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Trade receivables | 46,770 | 26,923 |
Gross carrying amount | Financial assets past due but not impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Trade receivables | 5,000 | 5,900 |
Up to three months | Gross carrying amount | Financial assets past due but not impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Trade receivables | 4,923 | 5,658 |
Greater than three months | Gross carrying amount | Financial assets past due but not impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Trade receivables | $ 74 | $ 276 |
Property and Equipment (Details
Property and Equipment (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Reconciliation of changes in property, plant and equipment [abstract] | ||
Opening balance | $ 41,173 | |
Closing balance | 51,656 | $ 41,173 |
Gross carrying amount | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Opening balance | 98,266 | 86,064 |
Additions | 34,200 | 14,105 |
Disposals | 45,616 | 1,944 |
Effect of change in exchange rates | 8 | 41 |
Closing balance | 86,858 | 98,266 |
Accumulated depreciation | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Opening balance | (57,093) | (27,302) |
Disposals | 44,031 | 1,900 |
Effect of change in exchange rates | 17 | (1) |
Depreciation expense | (22,157) | (31,690) |
Closing balance | (35,202) | (57,093) |
Equipment | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Opening balance | 1,774 | |
Closing balance | 2,160 | 1,774 |
Equipment | Gross carrying amount | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Opening balance | 3,895 | 3,400 |
Additions | 1,651 | 1,138 |
Disposals | 320 | 645 |
Effect of change in exchange rates | (2) | 2 |
Closing balance | 5,224 | 3,895 |
Equipment | Accumulated depreciation | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Opening balance | (2,121) | (1,727) |
Disposals | 272 | 630 |
Effect of change in exchange rates | (1) | (2) |
Depreciation expense | (1,214) | (1,022) |
Closing balance | (3,064) | (2,121) |
Computer Hardware and Software | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Opening balance | 15,112 | |
Closing balance | 2,317 | 15,112 |
Computer Hardware and Software | Gross carrying amount | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Opening balance | 53,448 | 52,141 |
Additions | 247 | 2,106 |
Disposals | 44,545 | 794 |
Effect of change in exchange rates | (3) | (5) |
Closing balance | 9,147 | 53,448 |
Computer Hardware and Software | Accumulated depreciation | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Opening balance | (38,336) | (15,390) |
Disposals | 43,048 | 782 |
Effect of change in exchange rates | 1 | 1 |
Depreciation expense | (11,543) | (23,729) |
Closing balance | (6,830) | (38,336) |
Furniture and Fittings | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Opening balance | 4,634 | |
Closing balance | 7,136 | 4,634 |
Furniture and Fittings | Gross carrying amount | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Opening balance | 7,083 | 5,409 |
Additions | 4,023 | 1,693 |
Disposals | 83 | 34 |
Effect of change in exchange rates | 8 | 15 |
Closing balance | 11,031 | 7,083 |
Furniture and Fittings | Accumulated depreciation | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Opening balance | (2,449) | (1,444) |
Disposals | 43 | 17 |
Effect of change in exchange rates | (4) | (6) |
Depreciation expense | (1,485) | (1,016) |
Closing balance | (3,895) | (2,449) |
Leasehold Improvements | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Opening balance | 19,653 | |
Closing balance | 40,043 | 19,653 |
Leasehold Improvements | Gross carrying amount | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Opening balance | 33,840 | 25,114 |
Additions | 28,279 | 9,168 |
Disposals | 668 | 471 |
Effect of change in exchange rates | 5 | 29 |
Closing balance | 61,456 | 33,840 |
Leasehold Improvements | Accumulated depreciation | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Opening balance | (14,187) | (8,741) |
Disposals | 668 | 471 |
Effect of change in exchange rates | 21 | 6 |
Depreciation expense | (7,915) | (5,923) |
Closing balance | $ (21,413) | $ (14,187) |
Goodwill and Intangible Asset75
Goodwill and Intangible Assets - Goodwill (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Reconciliation of changes in intangible assets and goodwill [abstract] | ||
Goodwill, beginning balance | $ 311,900 | $ 7,138 |
Additions | 0 | 304,712 |
Goodwill, ending balance | 311,943 | 311,900 |
Goodwill [member] | ||
Reconciliation of changes in intangible assets and goodwill [abstract] | ||
Effect of change in exchange rates | $ 43 | $ 50 |
Goodwill and Intangible Asset76
Goodwill and Intangible Assets - Intangible assets (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Disclosure of detailed information about intangible assets [line items] | ||
Opening balance | $ 120,789 | |
Closing balance | 63,577 | $ 120,789 |
Gross carrying amount | ||
Disclosure of detailed information about intangible assets [line items] | ||
Opening balance | 217,389 | 80,261 |
Additions | 137,025 | |
Effect of change in exchange rates | 90 | 103 |
Closing balance | 217,479 | 217,389 |
Accumulated depreciation, amortisation and impairment | ||
Disclosure of detailed information about intangible assets [line items] | ||
Opening balance | (96,600) | (66,684) |
Effect of change in exchange rates | (24) | (60) |
Amortization charge | (57,278) | (29,856) |
Closing balance | (153,902) | (96,600) |
Patents, Trademarks and Other Rights | ||
Disclosure of detailed information about intangible assets [line items] | ||
Opening balance | 18,703 | |
Closing balance | 11,713 | 18,703 |
Patents, Trademarks and Other Rights | Gross carrying amount | ||
Disclosure of detailed information about intangible assets [line items] | ||
Opening balance | 21,745 | 220 |
Additions | 21,525 | |
Effect of change in exchange rates | 0 | 0 |
Closing balance | 21,745 | 21,745 |
Patents, Trademarks and Other Rights | Accumulated depreciation, amortisation and impairment | ||
Disclosure of detailed information about intangible assets [line items] | ||
Opening balance | (3,042) | (135) |
Effect of change in exchange rates | 0 | 0 |
Amortization charge | (6,990) | (2,907) |
Closing balance | (10,032) | (3,042) |
Acquired developed technology | ||
Disclosure of detailed information about intangible assets [line items] | ||
Opening balance | 56,201 | |
Closing balance | 35,079 | 56,201 |
Acquired developed technology | Gross carrying amount | ||
Disclosure of detailed information about intangible assets [line items] | ||
Opening balance | 133,329 | 75,926 |
Additions | 57,300 | |
Effect of change in exchange rates | 90 | 103 |
Closing balance | 133,419 | 133,329 |
Acquired developed technology | Accumulated depreciation, amortisation and impairment | ||
Disclosure of detailed information about intangible assets [line items] | ||
Opening balance | (77,128) | (62,480) |
Effect of change in exchange rates | (24) | (60) |
Amortization charge | (21,188) | (14,588) |
Closing balance | (98,340) | (77,128) |
Employee Contracts | ||
Disclosure of detailed information about intangible assets [line items] | ||
Opening balance | 0 | |
Closing balance | 0 | 0 |
Employee Contracts | Gross carrying amount | ||
Disclosure of detailed information about intangible assets [line items] | ||
Opening balance | 3,631 | 3,631 |
Additions | 0 | |
Effect of change in exchange rates | 0 | 0 |
Closing balance | 3,631 | 3,631 |
Employee Contracts | Accumulated depreciation, amortisation and impairment | ||
Disclosure of detailed information about intangible assets [line items] | ||
Opening balance | (3,631) | (3,631) |
Effect of change in exchange rates | 0 | 0 |
Amortization charge | 0 | 0 |
Closing balance | (3,631) | (3,631) |
Customer relationships | ||
Disclosure of detailed information about intangible assets [line items] | ||
Opening balance | 45,885 | |
Closing balance | 16,785 | 45,885 |
Customer relationships | Gross carrying amount | ||
Disclosure of detailed information about intangible assets [line items] | ||
Opening balance | 58,684 | 484 |
Additions | 58,200 | |
Effect of change in exchange rates | 0 | 0 |
Closing balance | 58,684 | 58,684 |
Customer relationships | Accumulated depreciation, amortisation and impairment | ||
Disclosure of detailed information about intangible assets [line items] | ||
Opening balance | (12,799) | (438) |
Effect of change in exchange rates | 0 | 0 |
Amortization charge | (29,100) | (12,361) |
Closing balance | $ (41,899) | $ (12,799) |
Goodwill and Intangible Asset77
Goodwill and Intangible Assets - Narrative (Details) | 12 Months Ended | ||
Jun. 30, 2018USD ($)years | Jun. 30, 2017USD ($) | Jun. 30, 2016USD ($) | |
Disclosure of detailed information about intangible assets [line items] | |||
Number of cash generating units | 1 | ||
Impairment of goodwill | $ | $ 0 | $ 0 | $ 0 |
Capitalised development expenditure | |||
Disclosure of detailed information about intangible assets [line items] | |||
Development costs qualified for capitalization | $ | $ 0 | ||
Bottom of range | Acquired developed technology | |||
Disclosure of detailed information about intangible assets [line items] | |||
Remaining amortization period of intangible assets material to entity | years | 1 | ||
Top of range | Acquired developed technology | |||
Disclosure of detailed information about intangible assets [line items] | |||
Remaining amortization period of intangible assets material to entity | years | 3 |
Business Combinations - Narrati
Business Combinations - Narrative (Details) - USD ($) $ in Thousands | Jul. 12, 2016 | Jun. 30, 2018 | Jun. 30, 2017 | Feb. 03, 2017 | Jun. 30, 2016 |
Disclosure of detailed information about business combination [line items] | |||||
Goodwill | $ 311,943 | $ 311,900 | $ 7,138 | ||
Trello | |||||
Disclosure of detailed information about business combination [line items] | |||||
Total purchase price consideration | $ 384,000 | ||||
Cash transferred | 363,800 | ||||
Equity interests of acquirer | 20,200 | ||||
Intangible assets | 127,400 | ||||
Goodwill | 289,171 | ||||
StatusPage | |||||
Disclosure of detailed information about business combination [line items] | |||||
Cash transferred | $ 18,300 | ||||
Payment of deferred consideration | 3,300 | ||||
At fair value | Trello | |||||
Disclosure of detailed information about business combination [line items] | |||||
Intangible assets | $ 127,400 | ||||
At fair value | StatusPage | |||||
Disclosure of detailed information about business combination [line items] | |||||
Intangible assets | 8,700 | ||||
Goodwill | $ 15,500 | ||||
Bottom of range | Intangible assets material to entity | StatusPage | |||||
Disclosure of detailed information about business combination [line items] | |||||
Useful lives of intangible assets (in years) | 2 years | ||||
Top of range | Intangible assets material to entity | StatusPage | |||||
Disclosure of detailed information about business combination [line items] | |||||
Useful lives of intangible assets (in years) | 5 years |
Business Combinations - Fair va
Business Combinations - Fair values of assets and liabilities (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Jun. 30, 2017 | Feb. 03, 2017 | Jun. 30, 2016 |
Amounts recognised as of acquisition date for each major class of assets acquired and liabilities assumed [abstract] | ||||
Goodwill | $ 311,943 | $ 311,900 | $ 7,138 | |
Trello | ||||
Amounts recognised as of acquisition date for each major class of assets acquired and liabilities assumed [abstract] | ||||
Cash and cash equivalents | $ 1,019 | |||
Trade receivables | 1,035 | |||
Prepaid expenses and other current assets | 765 | |||
Deferred tax assets | 17,074 | |||
Intangible assets | 127,400 | |||
Goodwill | 289,171 | |||
Trade and other payables | (3,532) | |||
Deferred revenue | (2,165) | |||
Deferred tax liabilities | (46,760) | |||
Net assets acquired | $ 384,007 |
Business Combinations - Identif
Business Combinations - Identifiable intangible assets (Details) - Trello $ in Thousands | Feb. 03, 2017USD ($) |
Disclosure of detailed information about business combination [line items] | |
Intangible assets | $ 127,400 |
Developed technology | |
Disclosure of detailed information about business combination [line items] | |
Useful lives of intangible assets (in years) | 3 years |
Customer relationships | |
Disclosure of detailed information about business combination [line items] | |
Useful lives of intangible assets (in years) | 2 years |
Trade names | |
Disclosure of detailed information about business combination [line items] | |
Useful lives of intangible assets (in years) | 3 years |
At fair value | |
Disclosure of detailed information about business combination [line items] | |
Intangible assets | $ 127,400 |
At fair value | Developed technology | |
Disclosure of detailed information about business combination [line items] | |
Intangible assets | 50,600 |
At fair value | Customer relationships | |
Disclosure of detailed information about business combination [line items] | |
Intangible assets | 56,900 |
At fair value | Trade names | |
Disclosure of detailed information about business combination [line items] | |
Intangible assets | $ 19,900 |
Other Balance Sheet Accounts -
Other Balance Sheet Accounts - Cash and cash equivalents (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2015 |
Disclosure of financial assets [line items] | ||||
Cash and bank deposits | $ 659,668 | $ 163,107 | ||
Total cash and cash equivalents | 1,410,339 | 244,420 | $ 259,709 | $ 187,094 |
U.S. treasury securities | ||||
Disclosure of financial assets [line items] | ||||
Short-term investments, classified as cash equivalents | 18,968 | 0 | ||
Corporate securities | ||||
Disclosure of financial assets [line items] | ||||
Short-term investments, classified as cash equivalents | 1,000 | 0 | ||
Agency securities | ||||
Disclosure of financial assets [line items] | ||||
Short-term investments, classified as cash equivalents | 7,989 | 0 | ||
Commercial paper | ||||
Disclosure of financial assets [line items] | ||||
Short-term investments, classified as cash equivalents | 29,118 | 2,749 | ||
Money market funds | ||||
Disclosure of financial assets [line items] | ||||
Short-term investments, classified as cash equivalents | $ 693,596 | $ 78,564 |
Other Balance Sheet Accounts 82
Other Balance Sheet Accounts - Prepaid expenses and other current assets (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Jun. 30, 2017 |
Subclassifications of assets, liabilities and equities [abstract] | ||
Prepaid expenses | $ 19,702 | $ 12,984 |
Accrued interest income on short-term investments | 2,642 | 4,209 |
Other receivables | 3,059 | 1,736 |
Other current assets | 2,816 | 4,388 |
Total prepaid expenses and other current assets | $ 28,219 | $ 23,317 |
Other Balance Sheet Accounts 83
Other Balance Sheet Accounts - Other non-current assets (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Jun. 30, 2017 |
Disclosure of financial assets [line items] | ||
Security deposits | $ 5,248 | $ 4,803 |
Capped call transactions | 99,932 | 0 |
Other non-current assets | 7,041 | 4,466 |
Total other non-current assets | $ 112,221 | $ 9,269 |
Other Balance Sheet Accounts 84
Other Balance Sheet Accounts - Narrative (Details) - USD ($) $ in Millions | Jun. 30, 2018 | Jun. 30, 2017 |
Disclosure of financial assets [line items] | ||
Non-current restricted cash | $ 6.6 | $ 3.3 |
Certificates of deposit and time deposits | Long-term security deposits | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 3.7 | $ 4.2 |
Other Balance Sheet Accounts 85
Other Balance Sheet Accounts - Trade and other payables (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Jun. 30, 2017 |
Subclassifications of assets, liabilities and equities [abstract] | ||
Trade payables | $ 17,119 | $ 12,464 |
Accrued expenses | 42,905 | 24,761 |
Accrued compensation and employee benefits | 28,302 | 16,687 |
Retention bonus | 410 | 1,906 |
Sales and indirect taxes | 8,076 | 6,114 |
Operating lease payable | 1,420 | 688 |
Deferred acquisition-related consideration | 0 | 3,300 |
Foreign exchange forward contracts | 5,213 | 0 |
Other payables | 9,660 | 7,272 |
Trade and other current payables | $ 113,105 | $ 73,192 |
Other Balance Sheet Accounts 86
Other Balance Sheet Accounts - Provisions (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Jun. 30, 2017 |
Current provisions: | ||
Current employee benefits | $ 7,215 | $ 6,162 |
Non-current provisions: | ||
Non-current employee benefits | 2,094 | 1,415 |
Dilapidation provision | 2,269 | 1,918 |
Non-current provisions | $ 4,363 | $ 3,333 |
Other Balance Sheet Accounts 87
Other Balance Sheet Accounts - Other non-current liabilities (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Jun. 30, 2017 |
Subclassifications of assets, liabilities and equities [abstract] | ||
Deferred rent | $ 11,777 | $ 4,660 |
Notes embedded exchange derivative | 202,553 | 0 |
Other non-current liabilities | 655 | 309 |
Total other non-current liabilities | $ 214,985 | $ 4,969 |
Exchangeable Senior Notes - Nar
Exchangeable Senior Notes - Narrative (Details) $ / shares in Units, $ in Thousands | May 02, 2018USD ($)$ / sharesshares | Jun. 30, 2018USD ($) | Jun. 30, 2017USD ($) | Jun. 30, 2016USD ($) | Apr. 24, 2018USD ($) |
Disclosure of detailed information about borrowings [line items] | |||||
Proceeds from issuance of exchangeable senior notes, net of discount and issuance costs | $ 990,494 | $ 0 | $ 0 | ||
Payment for cost of capped calls | 87,700 | $ 0 | $ 0 | ||
Initial Notes | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Debt instruments issued | $ 850,000 | ||||
Additional Notes | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Debt instruments issued | $ 150,000 | ||||
Notes | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Debt instruments issued | $ 1,000,000 | 819,637 | |||
Debt interest rate | 0.625% | ||||
Proceeds from issuance of exchangeable senior notes, net of discount and issuance costs | $ 990,000 | ||||
Debt conversion, period immediately preceding maturity date | 1 year | ||||
Financial value of notes | 1,033,000 | ||||
Notes | Gross carrying amount | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Debt instruments issued | 1,000,000 | ||||
Notes | Capped call | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Payment for cost of capped calls | $ 87,700 | ||||
Debt instrument, fair value of embedded derivative | $ 177,900 | 202,600 | |||
Fair value of capped calls derivatives | $ 99,900 | ||||
Notes | Class A ordinary shares | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Debt conversion, number of shares issued in initial exchange (shares) | shares | 12.2663 | ||||
Debt conversion, initial exchange rate per share (USD per share) | $ / shares | $ 81.52 | ||||
Debt conversion ratio | 0.0122663 | ||||
Notes | Class A ordinary shares | Top of range | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Debt conversion, initial exchange rate per share (USD per share) | $ / shares | $ 114.42 |
Exchangeable Senior Notes (Deta
Exchangeable Senior Notes (Details) - Notes - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2018 | May 02, 2018 | |
Disclosure of detailed information about borrowings [line items] | ||
Debt instruments issued | $ 819,637 | $ 1,000,000 |
Effective interest rate | 4.83% | |
Contractual interest expense | $ 1,075 | |
Amortization of debt discount | 5,443 | |
Principal amount | ||
Disclosure of detailed information about borrowings [line items] | ||
Debt instruments issued | 1,000,000 | |
Unamortized debt discount | ||
Disclosure of detailed information about borrowings [line items] | ||
Debt instruments issued | (172,464) | |
Unamortized issuance costs | ||
Disclosure of detailed information about borrowings [line items] | ||
Debt instruments issued | $ (7,899) |
Shareholders' Equity - Share ca
Shareholders' Equity - Share capital (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 |
Disclosure of classes of share capital [line items] | |||
Share capital | $ 23,531 | $ 22,726 | |
Class A ordinary shares | |||
Disclosure of classes of share capital [line items] | |||
Number of shares outstanding (shares) | 105,371,800 | 91,979,704 | 75,505,973 |
Share capital | $ 10,537 | $ 9,198 | $ 7,550 |
Class B ordinary shares | |||
Disclosure of classes of share capital [line items] | |||
Number of shares outstanding (shares) | 129,942,506 | 135,283,942 | 140,696,234 |
Share capital | $ 12,994 | $ 13,528 | $ 14,070 |
Ordinary shares | |||
Disclosure of classes of share capital [line items] | |||
Number of shares outstanding (shares) | 235,314,306 | 227,263,646 | |
Share capital | $ 23,531 | $ 22,726 |
Shareholders' Equity - Movement
Shareholders' Equity - Movement in ordinary share capital (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | |
Changes in number of shares outstanding: | |||
Share capital, beginning balance | $ 22,726 | ||
Changes in issued capital: | |||
Issuance for settlement of RSUs | 0 | $ 0 | $ 0 |
Vesting of share options that were early exercised | 83 | 382 | $ 653 |
Share capital, ending balance | $ 23,531 | $ 22,726 | |
Class A ordinary shares | |||
Reconciliation of number of shares outstanding [abstract] | |||
Shares outstanding, beginning balance (shares) | 91,979,704 | 75,505,973 | |
Changes in number of shares outstanding: | |||
Conversion of stock (shares) | (5,861,707) | (6,326,879) | |
Exercise of share options (shares) | 1,902,084 | 5,487,334 | |
Issuance for settlement of RSUs (shares) | 5,253,809 | 4,510,995 | |
Vesting of share options that were early exercised (shares) | 374,496 | 148,523 | |
Shares outstanding, ending balance (shares) | 105,371,800 | 91,979,704 | 75,505,973 |
Share capital, beginning balance | $ 9,198 | $ 7,550 | |
Changes in issued capital: | |||
Conversion of shares | (587) | (633) | |
Exercise of share options | 190 | 549 | |
Issuance for settlement of RSUs | 525 | 451 | |
Vesting of share options that were early exercised | 37 | 15 | |
Share capital, ending balance | $ 10,537 | $ 9,198 | $ 7,550 |
Class B ordinary shares | |||
Reconciliation of number of shares outstanding [abstract] | |||
Shares outstanding, beginning balance (shares) | 135,283,942 | 140,696,234 | |
Changes in number of shares outstanding: | |||
Conversion of stock (shares) | 5,861,707 | 6,326,879 | |
Exercise of share options (shares) | 520,271 | 914,587 | |
Shares outstanding, ending balance (shares) | 129,942,506 | 135,283,942 | 140,696,234 |
Share capital, beginning balance | $ 13,528 | $ 14,070 | |
Changes in issued capital: | |||
Conversion of shares | 587 | 633 | |
Exercise of share options | 53 | 91 | |
Share capital, ending balance | $ 12,994 | $ 13,528 | $ 14,070 |
Shareholders' Equity - Narrativ
Shareholders' Equity - Narrative (Details) | 12 Months Ended | |
Jun. 30, 2018vote$ / sharesshares | Jun. 30, 2017shares | |
Ordinary shares | ||
Disclosure of classes of share capital [line items] | ||
Par value per share (USD per share) | $ / shares | $ 0.10 | |
Class B ordinary shares | ||
Disclosure of classes of share capital [line items] | ||
Automatic conversion, percentage of total shares outstanding (less than 10%) | 10.00% | |
Optional conversion, percentage of conversion consent (more than 66.66%) | 66.66% | |
Ordinary stock, voting rights per share | vote | 10 | |
Issuance at IPO (shares) | 15,000,000 | |
Class A ordinary shares | ||
Disclosure of classes of share capital [line items] | ||
Shares issued upon conversion (shares) | 1 | |
Ordinary stock, voting rights per share | vote | 1 | |
Series A Preference shares | ||
Disclosure of classes of share capital [line items] | ||
Issuance at IPO (shares) | 12,400,000 | |
Restricted shares | ||
Disclosure of classes of share capital [line items] | ||
Issuance at IPO (shares) | 17,200,000 |
Reserves - Disclosure of reserv
Reserves - Disclosure of reserves (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | |
Disclosure of reserves within equity [line items] | |||
Beginning Balance | $ 894,048 | $ 731,663 | $ 190,054 |
Share options exercise | 4,004 | 9,498 | 6,732 |
Early exercise vesting | 83 | 382 | 653 |
Share issuance for settlement of RSUs | 0 | 0 | 0 |
Replacement equity awards related to business combination | 20,193 | ||
Share-based payments | 162,873 | 137,458 | 75,480 |
Tax benefit from share plans | (140) | (35,811) | (27,747) |
Net loss on derivative instruments | (8,341) | 3,164 | 0 |
Translation adjustment | 118 | 140 | (4) |
Net change in unrealized gain (loss) on investments classified at fair value through other comprehensive income, net of tax | (586) | (945) | 687 |
Ending Balance | 892,766 | 894,048 | 731,663 |
Share premium | |||
Disclosure of reserves within equity [line items] | |||
Beginning Balance | 450,959 | 441,734 | 5,744 |
Share options exercise | 3,761 | 8,858 | 6,099 |
Early exercise vesting | 46 | 367 | 618 |
Ending Balance | 454,766 | 450,959 | 441,734 |
Other capital reserves | |||
Disclosure of reserves within equity [line items] | |||
Beginning Balance | 437,346 | 244,335 | |
Share issuance for settlement of RSUs | (525) | (451) | |
Replacement equity awards related to business combination | 20,193 | ||
Share-based payments | 162,873 | 137,458 | |
Tax benefit from share plans | 140 | 35,811 | |
Reduction in deferred tax assets | (42,734) | ||
Ending Balance | 557,100 | 437,346 | 244,335 |
Cash flow hedge reserve | |||
Disclosure of reserves within equity [line items] | |||
Beginning Balance | 2,215 | 0 | 0 |
Net loss on derivative instruments | (5,839) | 2,215 | |
Ending Balance | (3,624) | 2,215 | 0 |
Foreign currency translation reserve | |||
Disclosure of reserves within equity [line items] | |||
Beginning Balance | 4,289 | 4,149 | 4,153 |
Translation adjustment | 118 | 140 | |
Ending Balance | 4,407 | 4,289 | 4,149 |
Investments at fair value through other comprehensive income reserve | |||
Disclosure of reserves within equity [line items] | |||
Beginning Balance | (258) | 550 | |
Net change in unrealized gain (loss) on investments classified at fair value through other comprehensive income, net of tax | (586) | (808) | |
Ending Balance | (844) | (258) | 550 |
Total reserves | |||
Disclosure of reserves within equity [line items] | |||
Beginning Balance | 894,551 | 690,768 | |
Ending Balance | $ 1,011,805 | $ 894,551 | $ 690,768 |
Reserves - Narrative (Details)
Reserves - Narrative (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2015 |
Disclosure of reserves within equity [line items] | ||||
Capital reserves | $ 892,766 | $ 894,048 | $ 731,663 | $ 190,054 |
Capital redemption and merger reserves | ||||
Disclosure of reserves within equity [line items] | ||||
Capital reserves | 34,900 | 34,900 | 34,900 | |
Capital redemption reserve | ||||
Disclosure of reserves within equity [line items] | ||||
Capital reserves | 98 | 98 | 98 | |
Merger reserve | ||||
Disclosure of reserves within equity [line items] | ||||
Capital reserves | $ 35,000 | $ 35,000 | $ 35,000 |
Earnings Per Share - Narrative
Earnings Per Share - Narrative (Details) - shares shares in Millions | 1 Months Ended | 12 Months Ended | |
Dec. 31, 2015 | Jun. 30, 2018 | Jun. 30, 2017 | |
Earnings per share [line items] | |||
Potentially anti-dilutive shares excluded from computation of net loss per share (shares) | 12.8 | 13.8 | |
Preference shares | |||
Earnings per share [line items] | |||
Issuance at IPO (shares) | 12.4 | ||
Restricted shares | |||
Earnings per share [line items] | |||
Issuance at IPO (shares) | 17.2 | ||
Class A ordinary shares | Restricted shares | |||
Earnings per share [line items] | |||
Issuance at IPO (shares) | 17.2 | ||
Class A ordinary shares | Class A preference shares | Preference shares | |||
Earnings per share [line items] | |||
Issuance at IPO (shares) | 12.4 | ||
Class B ordinary shares | Class B preference shares | Preference shares | |||
Earnings per share [line items] | |||
Issuance at IPO (shares) | 15 |
Earnings Per Share - Calculatio
Earnings Per Share - Calculation of basic and diluted earnings (loss) per share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | |
Earnings per share [abstract] | |||
Net income (loss) | $ (119,341) | $ (42,504) | $ 4,373 |
Less: Allocation of earnings to preference shares—basic | 0 | 0 | (274) |
Net income (loss) attributable to ordinary shareholders—basic | (119,341) | (42,504) | 4,099 |
Add: Reallocation of earnings to ordinary shares | 0 | 0 | 14 |
Net income (loss) attributable to ordinary shareholders—diluted | $ (119,341) | $ (42,504) | $ 4,113 |
Weighted-average ordinary shares outstanding—basic (shares) | 231,184 | 222,224 | 182,773 |
Effect of potentially dilutive shares: share options and RSUs (shares) | 0 | 0 | 10,708 |
Weighted-average ordinary shares outstanding—diluted (shares) | 231,184 | 222,224 | 193,481 |
Basic net income (loss) per share (USD per share) | $ (0.52) | $ (0.19) | $ 0.02 |
Diluted net income (loss) per share (USD per share) | $ (0.52) | $ (0.19) | $ 0.02 |
Commitments (Details)
Commitments (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | |
Disclosure of finance lease and operating lease by lessee [line items] | |||
Lease and sublease payments recognized as expense | $ 23,600 | $ 12,200 | $ 8,300 |
Term of non-cancellable contractual commitments | 1 year | ||
Operating Leases | $ 328,185 | ||
Other Contractual Commitments | 25,753 | ||
Total | 353,938 | ||
Due in one year or less | |||
Disclosure of finance lease and operating lease by lessee [line items] | |||
Operating Leases | 32,530 | ||
Other Contractual Commitments | 25,753 | ||
Total | 58,283 | ||
Years ending 2020 - 2023 | |||
Disclosure of finance lease and operating lease by lessee [line items] | |||
Operating Leases | 132,543 | ||
Other Contractual Commitments | 0 | ||
Total | 132,543 | ||
Thereafter | |||
Disclosure of finance lease and operating lease by lessee [line items] | |||
Operating Leases | 163,112 | ||
Other Contractual Commitments | 0 | ||
Total | $ 163,112 | ||
Bottom of range | |||
Disclosure of finance lease and operating lease by lessee [line items] | |||
Term of non-cancellable operating leases | 1 year | ||
Top of range | |||
Disclosure of finance lease and operating lease by lessee [line items] | |||
Term of non-cancellable operating leases | 11 years |
Related Party Transactions (Det
Related Party Transactions (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | |
Executive management | |||
Disclosure of transactions between related parties [line items] | |||
Short-term compensation and benefits | $ 2,991 | $ 2,860 | $ 3,365 |
Post-employment benefits | 99 | 100 | 96 |
Share-based payments | 9,335 | 26,030 | 15,985 |
Key management personnel compensation | 12,425 | 28,990 | 19,446 |
Board of directors | |||
Disclosure of transactions between related parties [line items] | |||
Cash remuneration | 362 | 388 | 241 |
Share-based payments | 1,577 | 1,825 | 1,482 |
Key management personnel compensation | $ 1,939 | $ 2,213 | $ 1,723 |
Geographic Information (Details
Geographic Information (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | |
Disclosure of geographical areas [line items] | |||
Revenue | $ 873,950 | $ 619,936 | $ 457,058 |
Non-current operating assets | 427,880 | 470,492 | |
Americas | |||
Disclosure of geographical areas [line items] | |||
Revenue | 435,471 | 312,514 | 232,793 |
EMEA | |||
Disclosure of geographical areas [line items] | |||
Revenue | 346,362 | 242,496 | 178,087 |
Asia Pacific | |||
Disclosure of geographical areas [line items] | |||
Revenue | 92,117 | 64,926 | 46,178 |
United States | |||
Disclosure of geographical areas [line items] | |||
Revenue | 381,000 | 276,000 | 206,000 |
Non-current operating assets | 411,188 | 449,504 | |
Australia | |||
Disclosure of geographical areas [line items] | |||
Non-current operating assets | 16,692 | 20,988 | |
United Kingdom | |||
Disclosure of geographical areas [line items] | |||
Revenue | $ 63,000 | $ 46,000 | $ 34,000 |
Share-based Payments - Narrativ
Share-based Payments - Narrative (Details) | 12 Months Ended | ||
Jun. 30, 2018USD ($)sharesyearsplan | Jun. 30, 2017USD ($)sharesyears | Jun. 30, 2016shares | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Number of share-based employee compensation plans (shares) | plan | 4 | ||
Award vesting period | 4 years | ||
Number of shares available for grant (shares) | 30,600,215 | 21,597,913 | 17,529,216 |
Weighted-average remaining contractual live of options outstanding | years | 4.1 | 4.7 | |
Weighted-average remaining contractual live of options exercisable | years | 3.3 | 3.6 | |
Replacement share options granted (shares) | 0 | 980,573 | |
Weighted average exercise price, replacement share options granted (USD per share) | $ | $ 0.72 | ||
Future period share-based payment expense | $ | $ 133,200,000 | ||
Weighted-average period for recognition of future share-based payment expense | 1 year 4 months 24 days | ||
Number of shares outstanding subject to repurchase (shares) | 827,871 | 1,214,689 | |
Amounts reclassified into contributed equity as result of the vesting of early exercised shares | $ | $ 100,000 | $ 400,000 | |
Bottom of range | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Expected term (in years) | years | 4.5 | ||
Top of range | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Expected term (in years) | years | 6 | ||
RSUs | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Weighted average exercise price of other equity instruments exercised or vested in share-based payment arrangement | $ | $ 41.70 | $ 29.16 | |
RSUs | Year One Vesting | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Award vesting rights, percentage | 0.25 | ||
RSUs | Quarterly Vesting After Year One | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Award vesting rights, percentage | 0.08333 | ||
Class A ordinary shares | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Weighted-average remaining contractual live of options exercisable | years | 3.32 | 3.50 | |
Class B ordinary shares | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Number of shares available for grant (shares) | 0 | 0 | 0 |
Number of share options available for exercise (shares) | 0 | ||
Weighted average remaining contractual life of exercisable options | 10 months 24 days | ||
2015 Plan | Class A ordinary shares | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Shares reserved for issuance of awards (shares) | 20,700,000 | ||
Options Plan | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Award vesting period | 4 years | ||
Exercisable period of options upon termination | 3 months | ||
Number of shares available for grant (shares) | 0 | ||
Options Plan | Year One Vesting | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Award vesting rights, percentage | 0.25 | ||
Options Plan | Monthly Vesting After Year One | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Award vesting rights, percentage | 0.02083 | ||
Options Plan | Bottom of range | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Expected term (in years) | 7 | ||
Options Plan | Top of range | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Expected term (in years) | 10 | ||
2014 Plan | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Number of shares available for grant (shares) | 0 |
Share-based Payments - RSU and
Share-based Payments - RSU and Class A option activity (Details) | 12 Months Ended | |
Jun. 30, 2018USD ($)shares | Jun. 30, 2017USD ($)shares | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Shares Available for Grant, beginning balance (shares) | 21,597,913 | 17,529,216 |
Shares Outstanding, beginning balance (shares) | 4,642,661 | 9,311,825 |
RSUs Outstanding, beginning balance (shares) | 12,417,473 | 12,204,353 |
Replacement share options granted (shares) | 0 | (980,573) |
Share options exercised (shares) | (1,902,084) | (5,487,334) |
Share options canceled (shares) | (17,395) | (162,403) |
Equity awards granted in relation to business combination (shares) | (1,225,691) | |
Repurchase of early exercised options (shares) | 18,750 | |
Shares Available for Grant, ending balance (shares) | 30,600,215 | 21,597,913 |
Shares Outstanding, ending balance (shares) | 2,723,182 | 4,642,661 |
RSUs Outstanding, ending balance (shares) | 9,602,673 | 12,417,473 |
Share options vested and exercisable (shares) | 1,983,464 | 3,074,737 |
Weighted Average Exercise Price, beginning balance (USD per share) | $ | $ 2.21 | $ 2.04 |
Weighted Average Exercise Price, replacement share options granted (USD per share) | $ | 0.72 | |
Weighted Average Exercise Price, exercised (USD per share) | $ | 1.93 | 1.64 |
Weighted Average Exercise Price, canceled (USD per share) | $ | 1.45 | 2.70 |
Weighted Average Exercise Price, ending balance (USD per share) | $ | 2.41 | 2.21 |
Weighted Average Exercise Price, share options vested and exercisable (USD per share) | $ | $ 2.50 | $ 2.31 |
2015 Plan | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
2015 Plan (shares) | 11,423,916 | 10,817,923 |
RSUs | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
RSUs granted (shares) | 4,390,298 | 5,938,291 |
RSUs canceled (shares) | (1,951,289) | (1,214,176) |
RSUs settled (shares) | (5,253,809) | (4,510,995) |
Share-based Payments - Share op
Share-based Payments - Share options outstanding by range of exercise prices (Details) | Jun. 30, 2018USD ($)sharesyears | Jun. 30, 2017USD ($)sharesyears | Jun. 30, 2016USD ($)shares |
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | |||
Number Outstanding (shares) | shares | 2,723,182 | 4,642,661 | 9,311,825 |
Outstanding, Weighted- Average Exercise Price (USD per share) | $ 2.41 | $ 2.21 | $ 2.04 |
Number Exercisable (shares) | shares | 1,983,464 | 3,074,737 | |
Exercisable, Weighted- Average Exercise Price (USD per share) | $ 2.50 | $ 2.31 | |
Exercisable, Weighted- Average Remaining Years | years | 3.3 | 3.6 | |
Bottom of range | |||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | |||
Outstanding, Range of Exercise Prices (USD per share) | $ 0.59 | ||
Top of range | |||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | |||
Outstanding, Range of Exercise Prices (USD per share) | $ 1.14 | ||
Class A ordinary shares | |||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | |||
Number Outstanding (shares) | shares | 2,723,182 | 4,642,661 | |
Outstanding, Weighted- Average Exercise Price (USD per share) | $ 2.41 | $ 2.21 | |
Number Exercisable (shares) | shares | 1,983,464 | 3,074,737 | |
Exercisable, Weighted- Average Exercise Price (USD per share) | $ 2.50 | $ 2.31 | |
Exercisable, Weighted- Average Remaining Years | years | 3.32 | 3.50 | |
Class B ordinary shares | |||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | |||
Number Outstanding (shares) | shares | 0 | 520,271,000 | 1,434,858,000 |
Outstanding, Weighted- Average Exercise Price (USD per share) | $ 0 | $ 0.63 | $ 0.56 |
$0.59 - 0.66 | Class A ordinary shares | |||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | |||
Number Outstanding (shares) | shares | 385,963 | ||
Outstanding, Weighted- Average Exercise Price (USD per share) | $ 0.63 | ||
Number Exercisable (shares) | shares | 162,945 | ||
Exercisable, Weighted- Average Exercise Price (USD per share) | $ 0.61 | ||
Exercisable, Weighted- Average Remaining Years | years | 6.01 | ||
$0.59 - 0.66 | Class A ordinary shares | Bottom of range | |||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | |||
Outstanding, Range of Exercise Prices (USD per share) | $ 0.59 | ||
$0.59 - 0.66 | Class A ordinary shares | Top of range | |||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | |||
Outstanding, Range of Exercise Prices (USD per share) | $ 0.66 | ||
$1.14 - 1.59 | Class A ordinary shares | |||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | |||
Number Outstanding (shares) | shares | 212,391 | 405,667 | |
Outstanding, Weighted- Average Exercise Price (USD per share) | $ 1.35 | $ 1.36 | |
Number Exercisable (shares) | shares | 123,296 | 260,611 | |
Exercisable, Weighted- Average Exercise Price (USD per share) | $ 1.50 | $ 1.47 | |
Exercisable, Weighted- Average Remaining Years | years | 2.07 | 2.72 | |
$1.14 - 1.59 | Class A ordinary shares | Bottom of range | |||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | |||
Outstanding, Range of Exercise Prices (USD per share) | $ 1.14 | $ 1.14 | |
$1.14 - 1.59 | Class A ordinary shares | Top of range | |||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | |||
Outstanding, Range of Exercise Prices (USD per share) | $ 1.59 | $ 1.59 | |
$1.92 - 2.16 | Class A ordinary shares | |||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | |||
Number Outstanding (shares) | shares | 166,967 | 340,783 | |
Outstanding, Weighted- Average Exercise Price (USD per share) | $ 2.06 | $ 2.05 | |
Number Exercisable (shares) | shares | 166,967 | 340,783 | |
Exercisable, Weighted- Average Exercise Price (USD per share) | $ 2.06 | $ 2.05 | |
Exercisable, Weighted- Average Remaining Years | years | 1.39 | 2.38 | |
$1.92 - 2.16 | Class A ordinary shares | Bottom of range | |||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | |||
Outstanding, Range of Exercise Prices (USD per share) | $ 1.92 | $ 1.92 | |
$1.92 - 2.16 | Class A ordinary shares | Top of range | |||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | |||
Outstanding, Range of Exercise Prices (USD per share) | $ 2.16 | $ 2.16 | |
$2.40 - 2.92 | Class A ordinary shares | |||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | |||
Number Outstanding (shares) | shares | 740,363 | 1,310,942 | |
Outstanding, Weighted- Average Exercise Price (USD per share) | $ 2.46 | $ 2.46 | |
Number Exercisable (shares) | shares | 740,363 | 1,302,133 | |
Exercisable, Weighted- Average Exercise Price (USD per share) | $ 2.46 | $ 2.45 | |
Exercisable, Weighted- Average Remaining Years | years | 1.86 | 2.86 | |
$2.40 - 2.92 | Class A ordinary shares | Bottom of range | |||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | |||
Outstanding, Range of Exercise Prices (USD per share) | $ 2.40 | $ 2.40 | |
$2.40 - 2.92 | Class A ordinary shares | Top of range | |||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | |||
Outstanding, Range of Exercise Prices (USD per share) | $ 2.92 | $ 2.92 | |
$3.18 | Class A ordinary shares | |||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | |||
Number Outstanding (shares) | shares | 1,217,498 | 1,637,810 | |
Outstanding, Weighted- Average Exercise Price (USD per share) | $ 3.18 | $ 3.18 | |
Number Exercisable (shares) | shares | 789,893 | 817,098 | |
Exercisable, Weighted- Average Exercise Price (USD per share) | $ 3.18 | $ 3.18 | |
Exercisable, Weighted- Average Remaining Years | years | 4.75 | 5.41 | |
$3.18 | Class A ordinary shares | Top of range | |||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | |||
Outstanding, Range of Exercise Prices (USD per share) | $ 3.18 | $ 3.18 | |
$0.42 - 0.66 | Class A ordinary shares | |||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | |||
Number Outstanding (shares) | shares | 947,459 | ||
Outstanding, Weighted- Average Exercise Price (USD per share) | $ 0.61 | ||
Number Exercisable (shares) | shares | 354,112 | ||
Exercisable, Weighted- Average Exercise Price (USD per share) | $ 0.60 | ||
Exercisable, Weighted- Average Remaining Years | years | 3.07 | ||
$0.42 - 0.66 | Class A ordinary shares | Bottom of range | |||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | |||
Outstanding, Range of Exercise Prices (USD per share) | $ 0.42 | ||
$0.42 - 0.66 | Class A ordinary shares | Top of range | |||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | |||
Outstanding, Range of Exercise Prices (USD per share) | 0.66 | ||
$0.63 | Class B ordinary shares | |||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | |||
Outstanding, Range of Exercise Prices (USD per share) | $ 0.63 | ||
Number Outstanding (shares) | shares | 520,271 | ||
Outstanding, Weighted- Average Exercise Price (USD per share) | $ 0.63 | ||
Number Exercisable (shares) | shares | 520,271 | ||
Exercisable, Weighted- Average Exercise Price (USD per share) | $ 0.63 | ||
Exercisable, Weighted- Average Remaining Years | years | 0.92 |
Share-based Payments - Class B
Share-based Payments - Class B activity (Details) | 12 Months Ended | |
Jun. 30, 2018USD ($)shares | Jun. 30, 2017USD ($)shares | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Shares Available for Grant, beginning balance (shares) | 21,597,913 | 17,529,216 |
Shares Available for Grant, ending balance (shares) | 30,600,215 | 21,597,913 |
Shares Outstanding, beginning balance (shares) | 4,642,661 | 9,311,825 |
Exercised (shares) | (1,902,084) | (5,487,334) |
Shares Outstanding, ending balance (shares) | 2,723,182 | 4,642,661 |
Weighted Average Exercise Price, beginning balance (USD per share) | $ | $ 2.21 | $ 2.04 |
Weighted Average Exercise Price, exercised (USD per share) | $ | 1.93 | 1.64 |
Weighted Average Exercise Price, ending balance (USD per share) | $ | $ 2.41 | $ 2.21 |
Class B ordinary shares | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Shares Available for Grant, beginning balance (shares) | 0 | 0 |
Shares Available for Grant, ending balance (shares) | 0 | 0 |
Shares Outstanding, beginning balance (shares) | 520,271,000 | 1,434,858,000 |
Exercised (shares) | (520,271,000) | (914,587,000) |
Shares Outstanding, ending balance (shares) | 0 | 520,271,000 |
Weighted Average Exercise Price, beginning balance (USD per share) | $ | $ 0.63 | $ 0.56 |
Weighted Average Exercise Price, exercised (USD per share) | $ | 0.61 | 0.55 |
Weighted Average Exercise Price, ending balance (USD per share) | $ | $ 0 | $ 0.63 |
Share-based Payments - Fair val
Share-based Payments - Fair value valuation assumptions (Details) | 12 Months Ended |
Jun. 30, 2017USD ($)years | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Fair value of underlying shares (USD per share) | $ 28.16 |
Expected volatility | 41.00% |
Risk-free interest rate | 1.90% |
Dividend yield | 0.00% |
Weighted-average fair value per share option | $ 27.51 |
Bottom of range | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Exercise price (USD per share) | $ 0.59 |
Expected term (in years) | years | 4.5 |
Top of range | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Exercise price (USD per share) | $ 1.14 |
Expected term (in years) | years | 6 |