Cover
Cover | 12 Months Ended |
Jun. 30, 2022 shares | |
Document Information [Line Items] | |
Document Type | 20-F |
Document Registration Statement | false |
Document Annual Report | true |
Document Period End Date | Jun. 30, 2022 |
Current Fiscal Year End Date | --06-30 |
Document Transition Report | false |
Document Shell Company Report | false |
Entity File Number | 001-37651 |
Entity Registrant Name | Atlassian Corporation Plc |
Entity Incorporation, State or Country Code | X0 |
Entity Address, Country | GB |
Entity Address, Address Line One | Exchange House |
Entity Address, Address Line Two | Primrose Street |
Entity Address, City or Town | London |
Entity Address, Postal Zip Code | EC2A 2EG |
Title of 12(b) Security | Class A Ordinary Shares |
Trading Symbol | TEAM |
Security Exchange Name | NASDAQ |
Entity Well-known Seasoned Issuer | Yes |
Entity Voluntary Filers | No |
Entity Current Reporting Status | Yes |
Entity Interactive Data Current | Yes |
Entity Filer Category | Large Accelerated Filer |
Entity Emerging Growth Company | false |
ICFR Auditor Attestation Flag | true |
Document Accounting Standard | International Financial Reporting Standards |
Entity Shell Company | false |
Entity Central Index Key | 0001650372 |
Document Fiscal Year Focus | 2021 |
Document Fiscal Period Focus | FY |
Amendment Flag | false |
Class A Ordinary Shares | |
Document Information [Line Items] | |
Entity Common Stock, Shares Outstanding | 144,891,749 |
Class B Ordinary Shares | |
Document Information [Line Items] | |
Security Reporting Obligation | 15(d) |
Entity Common Stock, Shares Outstanding | 110,035,649 |
Business Contact | |
Document Information [Line Items] | |
Entity Address, Country | GB |
Entity Address, Address Line One | Exchange House |
Entity Address, Address Line Two | Primrose Street |
Entity Address, City or Town | London |
Entity Address, Postal Zip Code | EC2A 2EG |
Contact Personnel Name | Stuart Fagin |
City Area Code | 415 |
Local Phone Number | 701.1110 |
Contact Personnel Email Address | IR@atlassian.com |
Audit Information
Audit Information | 12 Months Ended |
Jun. 30, 2022 | |
Audit Information [Abstract] | |
Auditor Firm ID | 42 |
Auditor Name | Ernst & Young LLP |
Auditor Location | San Francisco, California |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands | 12 Months Ended | |||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 | ||
Revenues: | ||||
Total revenues | $ 2,802,882 | $ 2,089,132 | $ 1,614,173 | |
Cost of revenues | [1],[2] | 465,707 | 336,021 | 268,807 |
Gross profit | 2,337,175 | 1,753,111 | 1,345,366 | |
Operating expenses: | ||||
Research and development | [1],[2] | 1,397,568 | 963,326 | 763,188 |
Marketing and sales | [1],[2] | 567,691 | 372,909 | 299,683 |
General and administrative | [2] | 478,373 | 315,242 | 268,409 |
Total operating expenses | 2,443,632 | 1,651,477 | 1,331,280 | |
Operating income (loss) | (106,457) | 101,634 | 14,086 | |
Other non-operating expense, net | (434,588) | (620,759) | (338,486) | |
Finance income | 2,297 | 7,174 | 27,801 | |
Finance costs | (25,824) | (122,713) | (49,610) | |
Loss before income tax expense | (564,572) | (634,664) | (346,209) | |
Income tax expense | (49,552) | (61,651) | (4,445) | |
Net loss | $ (614,124) | $ (696,315) | $ (350,654) | |
Net loss per share attributable to ordinary shareholders: | ||||
Basic (USD per share) | $ (2.42) | $ (2.79) | $ (1.43) | |
Diluted (USD per share) | $ (2.42) | $ (2.79) | $ (1.43) | |
Weighted-average shares outstanding used to compute net loss per share attributable to ordinary shareholders: | ||||
Basic (shares) | 253,312,000 | 249,679,000 | 244,844,000 | |
Diluted (shares) | 253,312,000 | 249,679,000 | 244,844,000 | |
Subscription | ||||
Revenues: | ||||
Total revenues | $ 2,096,706 | $ 1,324,064 | $ 931,455 | |
Maintenance | ||||
Revenues: | ||||
Total revenues | 495,077 | 522,971 | 469,350 | |
Other | ||||
Revenues: | ||||
Total revenues | $ 211,099 | $ 242,097 | $ 213,368 | |
[1]Amounts include amortization of acquired intangible assets, as follows: Cost of revenues $ 22,694 $ 22,394 $ 29,509 Research and development 374 168 166 Marketing and sales 9,330 9,192 12,860 Cost of revenues $ 44,848 $ 24,739 $ 19,787 Research and development 437,607 253,328 204,150 Marketing and sales 109,338 46,978 41,960 General and administrative 115,294 60,687 47,498 |
CONSOLIDATED STATEMENTS OF OP_2
CONSOLIDATED STATEMENTS OF OPERATIONS - (Parenthetical) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 | |
Statement Of Operations [Line Items] | |||
Share-based payment expense | $ 707,087 | $ 385,732 | $ 313,395 |
Cost of revenues | |||
Statement Of Operations [Line Items] | |||
Share-based payment expense | 44,848 | 24,739 | 19,787 |
Amortization charge | 22,694 | 22,394 | 29,509 |
Research and development | |||
Statement Of Operations [Line Items] | |||
Share-based payment expense | 437,607 | 253,328 | 204,150 |
Amortization charge | 374 | 168 | 166 |
Marketing and sales | |||
Statement Of Operations [Line Items] | |||
Share-based payment expense | 109,338 | 46,978 | 41,960 |
Amortization charge | 9,330 | 9,192 | 12,860 |
General and administrative | |||
Statement Of Operations [Line Items] | |||
Share-based payment expense | $ 115,294 | $ 60,687 | $ 47,498 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 | |
Statement of comprehensive income [abstract] | |||
Net loss | $ (614,124) | $ (696,315) | $ (350,654) |
Items that will not be reclassified to profit or loss in subsequent periods: | |||
Net gain (loss) on equity investments classified at fair value through other comprehensive income | (72,663) | 48,080 | 41,255 |
Income tax effect | 16,775 | (11,283) | (9,380) |
Other comprehensive income (loss) for items that will not be reclassified to profit or loss, net of tax | (55,888) | 36,797 | 31,875 |
Items that will be reclassified to profit or loss in subsequent periods: | |||
Foreign currency translation adjustment | (11,355) | 4,916 | (613) |
Net change in unrealized gain (loss) on debt investments classified at fair value through other comprehensive income | (1,358) | (4,844) | 5,053 |
Net gain (loss) on cash flow hedging derivative instruments | 27,438 | (16,008) | 16,711 |
Income tax effect | (9,840) | 7,827 | (8,961) |
Other comprehensive income (loss) after tax that will be reclassified to profit or loss in subsequent periods | 4,885 | (8,109) | 12,190 |
Other comprehensive income (loss), net of tax | (51,003) | 28,688 | 44,065 |
Total comprehensive loss, net of tax | $ (665,127) | $ (667,627) | $ (306,589) |
CONSOLIDATED STATEMENTS OF FINA
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - USD ($) $ in Thousands | Jun. 30, 2022 | Jun. 30, 2021 |
Current assets: | ||
Cash and cash equivalents | $ 1,385,265 | $ 919,227 |
Short-term investments | 73,294 | 313,001 |
Trade receivables | 308,127 | 173,473 |
Tax receivables | 541 | 2,332 |
Derivative assets | 13,685 | 127,486 |
Prepaid expenses and other current assets | 58,077 | 48,322 |
Current assets other assets classified as held for sale | 1,838,989 | 1,583,841 |
Assets held for sale | 60,265 | 43,665 |
Total current assets | 1,899,254 | 1,627,506 |
Non-current assets: | ||
Property and equipment, net | 98,554 | 66,221 |
Deferred tax assets | 42,760 | 36,174 |
Goodwill | 732,666 | 725,758 |
Intangible assets, net | 100,840 | 124,590 |
Right-of-use assets, net | 267,328 | 205,300 |
Strategic investments | 159,064 | 122,159 |
Other non-current assets | 60,740 | 37,636 |
Total non-current assets | 1,461,952 | 1,317,838 |
Total assets | 3,361,206 | 2,945,344 |
Current liabilities: | ||
Trade and other payables | 404,908 | 266,497 |
Tax liabilities | 26,367 | 42,051 |
Provisions | 32,796 | 25,148 |
Deferred revenue | 1,066,059 | 812,943 |
Lease obligations | 40,638 | 42,446 |
Derivative liabilities | 23,288 | 772,127 |
Exchangeable senior notes, net | 0 | 348,799 |
Total current liabilities | 1,594,056 | 2,310,011 |
Non-current liabilities: | ||
Deferred tax liabilities | 26,457 | 26,625 |
Provisions | 13,804 | 12,435 |
Deferred revenue | 116,621 | 84,652 |
Term loan facility, net | 999,419 | 0 |
Lease obligations | 274,434 | 214,103 |
Other non-current liabilities | 812 | 2,604 |
Total non-current liabilities | 1,431,547 | 340,419 |
Total liabilities | 3,025,603 | 2,650,430 |
Equity | ||
Share capital | 25,485 | 25,164 |
Share premium | 461,044 | 461,016 |
Other capital reserves | 2,223,820 | 1,516,609 |
Other components of equity | 53,829 | 104,832 |
Accumulated deficit | (2,428,575) | (1,812,707) |
Total equity | 335,603 | 294,914 |
Total liabilities and equity | $ 3,361,206 | $ 2,945,344 |
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 (Cumulative effect of applying new accounting pronouncement) at Jun. 30, 2019 | $ (101) | $ (101) | ||||||
Beginning Balance at Jun. 30, 2019 | 565,467 | $ 24,199 | $ 458,166 | $ 816,660 | $ (2,547) | $ 4,372 | $ 30,254 | (765,637) |
Net loss | (350,654) | (350,654) | ||||||
Other comprehensive income (loss), net of tax | 44,065 | 8,714 | (613) | 35,964 | ||||
Total comprehensive loss, net of tax | (306,589) | 8,714 | (613) | 35,964 | (350,654) | |||
Changes in equity [abstract] | ||||||||
Issuance of ordinary shares upon exercise of share options | 1,802 | 76 | 1,726 | |||||
Vesting of early exercised shares | 32 | 64 | (32) | |||||
Issuance of ordinary shares for settlement of restricted share units (RSUs) | 0 | 405 | (405) | |||||
Share-based payment | 313,706 | 313,706 | ||||||
Replacement equity awards related to business combination | 552 | 552 | ||||||
Tax benefit from share plans | 437 | 437 | ||||||
Increase (decrease) in equity | 316,428 | 545 | 1,726 | 314,258 | (101) | |||
Ending Balance at Jun. 30, 2020 | 575,306 | 24,744 | 459,892 | 1,130,918 | 6,167 | 3,759 | 66,218 | (1,116,392) |
Net loss | (696,315) | (696,315) | ||||||
Other comprehensive income (loss), net of tax | 28,688 | (9,102) | 4,916 | 32,874 | ||||
Total comprehensive loss, net of tax | (667,627) | (9,102) | 4,916 | 32,874 | (696,315) | |||
Changes in equity [abstract] | ||||||||
Issuance of ordinary shares upon exercise of share options | 1,163 | 39 | 1,124 | |||||
Vesting of early exercised shares | 0 | 34 | (34) | |||||
Issuance of ordinary shares for settlement of restricted share units (RSUs) | 0 | 347 | (347) | |||||
Share-based payment | 385,918 | 385,918 | ||||||
Replacement equity awards related to business combination | 523 | 523 | ||||||
Tax benefit from share plans | (369) | (369) | ||||||
Increase (decrease) in equity | 387,235 | 420 | 1,124 | 385,691 | ||||
Ending Balance at Jun. 30, 2021 | 294,914 | 25,164 | 461,016 | 1,516,609 | (2,935) | 8,675 | 99,092 | (1,812,707) |
Hyperinflation | (1,744) | (1,744) | ||||||
Ending Balance at Jul. 01, 2021 | 293,170 | 25,164 | 461,016 | 1,516,609 | (2,935) | 8,675 | 99,092 | (1,814,451) |
Beginning Balance at Jun. 30, 2021 | 294,914 | 25,164 | 461,016 | 1,516,609 | (2,935) | 8,675 | 99,092 | (1,812,707) |
Net loss | (614,124) | (614,124) | ||||||
Other comprehensive income (loss), net of tax | (51,003) | 17,462 | (11,355) | (57,110) | ||||
Total comprehensive loss, net of tax | (665,127) | 17,462 | (11,355) | (57,110) | (614,124) | |||
Changes in equity [abstract] | ||||||||
Issuance of ordinary shares upon exercise of share options | 32 | 4 | 28 | |||||
Vesting of early exercised shares | 0 | 21 | (21) | |||||
Issuance of ordinary shares for settlement of restricted share units (RSUs) | 0 | 296 | (296) | |||||
Share-based payment | 707,470 | 707,470 | ||||||
Tax benefit from share plans | 58 | 58 | ||||||
Increase (decrease) in equity | 707,560 | 321 | 28 | 707,211 | ||||
Ending Balance at Jun. 30, 2022 | $ 335,603 | $ 25,485 | $ 461,044 | $ 2,223,820 | $ 14,527 | $ (2,680) | $ 41,982 | $ (2,428,575) |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 | |
Operating activities | |||
Loss before income tax expense | $ (564,572) | $ (634,664) | $ (346,209) |
Adjustments to reconcile loss before income tax expense to net cash provided by operating activities: | |||
Depreciation and amortization | 51,163 | 55,296 | 62,271 |
Depreciation of right-of-use assets | 42,795 | 37,552 | 35,127 |
Share-based payment expense | 707,087 | 385,732 | 313,395 |
Net loss on exchange derivative and capped call transactions | 424,482 | 616,446 | 335,953 |
Amortization of debt discount and issuance cost | 4,075 | 109,548 | 35,608 |
Interest income | (2,297) | (7,174) | (27,801) |
Interest expense | 21,749 | 13,164 | 14,002 |
Net foreign currency loss (gain) | (12,065) | 7,650 | (1,503) |
Impairment of lease related assets | 0 | 7,435 | 0 |
Net unrealized loss on investments | 2,100 | 2,000 | 0 |
Net loss (gain) on sale of investments, disposal of assets and other | 3,189 | 1,144 | (993) |
Changes in assets and liabilities: | |||
Trade receivables | (134,764) | (61,256) | (29,440) |
Prepaid expenses and other assets | (20,767) | (13,054) | (10,608) |
Trade and other payables, provisions and other non-current liabilities | 140,946 | 64,899 | 51,532 |
Deferred revenue | 284,937 | 294,371 | 131,535 |
Interest received | 2,086 | 12,513 | 29,217 |
Income tax paid, net | (66,648) | (50,272) | (17,876) |
Net cash provided by operating activities | 883,496 | 841,330 | 574,210 |
Investing activities | |||
Business combinations, net of cash acquired | (12,377) | (91,584) | (53,212) |
Purchases of intangible assets | (4,018) | (1,800) | 0 |
Purchases of property and equipment | (70,583) | (31,520) | (35,709) |
Purchases of investments | (132,671) | (119,431) | (985,931) |
Proceeds from maturities of investments | 76,937 | 454,996 | 513,268 |
Proceeds from sales of investments | 186,262 | 48,786 | 245,498 |
Change in restricted cash | 10,336 | (2,618) | (2,085) |
Payment of deferred consideration | (7,034) | (185) | (760) |
Net cash provided by (used in) investing activities | 46,852 | 256,644 | (318,931) |
Financing activities | |||
Proceeds from exercise of share options | 32 | 1,163 | 1,802 |
Payments of lease obligations | (49,142) | (44,874) | (38,125) |
Payment of issuance costs for debt | 0 | (4,445) | 0 |
Interest paid | (13,310) | (6,498) | (6,250) |
Repayment of exchangeable senior notes | (1,548,686) | (1,803,244) | (2) |
Proceeds from settlement of capped call transactions | 135,497 | 203,093 | 0 |
Proceeds from term loan facility | 1,000,000 | 0 | 0 |
Proceeds from other financing arrangements | 13,877 | 0 | 0 |
Net cash used in financing activities | (461,732) | (1,654,805) | (42,575) |
Effect of exchange rate changes on cash and cash equivalents | (9,194) | 5,406 | (1,176) |
Net increase (decrease) in cash and cash equivalents | 459,422 | (551,425) | 211,528 |
Cash and cash equivalents at beginning of period | 919,227 | 1,479,969 | 1,268,441 |
Net decrease (increase) in cash and cash equivalents included in assets held for sale | 6,616 | (9,317) | 0 |
Cash and cash equivalents at end of period | $ 1,385,265 | $ 919,227 | $ 1,479,969 |
Corporate Information
Corporate Information | 12 Months Ended |
Jun. 30, 2022 | |
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 “UK”). 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 primary products include Jira Software and Jira Work Management for planning and project management, Confluence for content creation and sharing, Trello for capturing and adding structure to fluid, fast-forming work for teams, Jira Service Management for team service, management and support applications, Jira Align for enterprise agile planning, and Bitbucket for code sharing and management. The accompanying consolidated financial statements of the Group for the year ended June 30, 2022 were authorized for issue in accordance with a resolution of the board of directors on August 19, 2022. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Jun. 30, 2022 | |
Significant Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies 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 debt and equity financial assets and derivative financial instruments that have been measured at fair value. 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. Use of estimates 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, revenue 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. Significant estimates, assumptions and judgments made by management include revenue recognition and impairment of non-financial assets (see Note 3, “ Critical Accounting Estimates and Judgments ”). Other estimates, assumptions and judgments made by management include business combinations, fair value measurement of financial instruments and accounting for income taxes. In March 2020, the World Health Organization declared a novel coronavirus (“COVID-19”) a pandemic. The impact of COVID-19 has been difficult to predict and the full extent of the impact will depend on a number of factors, including the continued duration and spread of the outbreak and related variants, its severity, the actions taken by governments and authorities to contain the virus or treat its impact, the effectiveness of current vaccines and therapeutic treatments, and the extent to which normal economic and operating conditions continue to resume. The Group considered the impact of COVID-19 on the assumptions and estimates used, including the allowance for credit losses for accounts receivable, the creditworthiness of customers entering into revenue arrangements, our impairment assessment of assets, the fair values of our financial instruments, and income taxes, which require increased judgement and carry a higher degree of estimate uncertainty. The Group determined that there were no material adverse impacts on the consolidated financial statements for the fiscal years ended June 30, 2022 and 2021 . As events continue to evolve and additional information becomes available, the Group’s assumptions and estimates may change in future periods. Principles of consolidation The consolidated financial statements incorporate the financial positions 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. Segment The Group operates 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 results of operations 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 results of operations 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. Foreign currency The Group's consolidated financial statements are presented using the U.S. dollar, which is the Company's functional currency. Some of the Group’s foreign subsidiaries’ functional currency is the local currency. We translate the financial statements of these subsidiaries to U.S. dollars using month-end exchange rates for assets and liabilities, and average exchange rates for revenue, costs, and expenses. Adjustments resulting from translating foreign functional currency financial statements into U.S. dollars are recorded as a separate component on the consolidated statements of comprehensive loss. Foreign currency transaction gains and losses from re-measurement of monetary assets and liabilities that are denominated in currencies other than the respective functional currencies are included in other non-operating expense, net in the consolidated statements of operations for the period. Revenue recognition Policies, Estimates and Judgments Revenues are generally recognized upon the transfer of control of promised products or services provided to our customers, reflecting the amount of consideration we expect to receive for those products or services. We enter into contracts that can include various combinations of products and services, which are generally capable of being distinct and accounted for as separate performance obligations. Revenue is recognized net of sales and other similar taxes collected from customers, which are subsequently remitted to governmental authorities. The revenue recognition policy is consistent for sales generated directly with customers and sales generated indirectly through solution partners and resellers. Revenues are recognized upon the application of the following steps: 1. identification of the contract or contracts with a customer; 2. identification of the performance obligations in the contract; 3. determination of the transaction price; 4. allocation of the transaction price to the performance obligations in the contract; and 5. recognition of revenue when, or as, the performance obligation is satisfied. The timing of revenue recognition may differ from the timing of billing our customers. We receive payments from customers based on a billing schedule as established in our contracts. Contract assets are recognized when performance is completed in advance of scheduled billings. Deferred revenue is recognized when billings are in advance of performance under the contract. Our r evenue arrangements include standard warranty provisions that our products and services will perform and operate in all material respects with the applicable published specifications, the financial impacts of which have historically been, and are expected to continue to be insignificant. Our contracts do not include a significant financing component. Our contracts with customers often include promises to transfer multiple products and services to a customer. Determining whether products and services are considered distinct performance obligations that should be accounted for separately versus together may require judgment. We allocate the transaction price for each contract to each performance obligation based on the relative standalone selling price (“SSP”) for each performance obligation. We use judgment in determining the SSP for products and services. We typically determine an SSP range for our products and services which is reassessed on a periodic basis or when facts and circumstances change. For all performance obligations other than perpetual and term licenses, we are able to determine SSP based on the observable prices of products or services sold separately in comparable circumstances to similar customers. In instances where performance obligations do not have observable standalone sales, we utilize available information that may include market conditions, pricing strategies, the economic life of the software, and other observable inputs to estimate the price we would charge if the products and services were sold separately. Our products are generally sold with a right of return, we may provide other credits or incentives, and in certain instances we estimate customer usage of our services, which are accounted for as variable consideration when determining the amount of revenue to recognize. Returns and credits are estimated at contract inception and updated at the end of each reporting period if additional information becomes available. Variable consideration was not material for the periods presented. Recognition of revenue Revenue recognized from contracts with customers is disaggregated into categories that depict how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors. We report our revenues in three categories: (i) subscription, (ii) maintenance, and (iii) other. In addition, we present revenue by geographic region in Note 16, “ Revenue. ” Subscription revenues Subscription revenues consist primarily of fees earned from subscription-based arrangements for providing customers the right to use our software in a cloud-based-infrastructure that we provide. We also sell on-premises term license agreements for our Data Center products, which consist of software licensed for a specified period and include support and maintenance services that are bundled with the license for the term of the license period. Subscription revenues also include subscription-based agreements for our premier support services. Subscription revenues are driven primarily by the number and size of active licenses, the type of product and the price of the licenses. Our subscription-based arrangements generally have a contractual term of one Maintenance revenues Maintenance revenues represent 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. Maintenance revenue is recognized ratably over the term of the support period. Other revenues Other revenues include primarily fees received for sales of third-party apps in the Atlassian Marketplace and perpetual license revenues. Technical account management, consulting and training services are also included in other revenues. Revenue from the sale of third-party apps via Atlassian Marketplace is recognized on the date of product delivery on a net basis given that all of our performance obligations have been satisfied at that time and we function as the agent in the relationship. Revenue from technical account management is recognized over the time period that the customer has access to the service. Revenue from consulting and training is recognized over time as the services are performed. Perpetual license revenues represent fees earned from the perpetual licenses of software to customers for use on the customer’s premises. Perpetual license revenues consist of the revenues recognized from sales of licenses to new customers and additional licenses to existing customers. We typically recognize revenue on the license portion of perpetual license arrangements once the customer obtains control of the license, which is generally upon delivery of the license. Cash and cash equivalents The Group considers all highly liquid investments purchased with an original maturity of three months or less and subject to an insignificant risk of changes in value to be cash equivalents. 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 or intended to be sold or consumed in the normal operating cycle; 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. Financial Instruments A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity. Our financial assets include trade receivables and contract assets, debt and equity investments and derivative financial instruments. We generally classify financial assets into the following categories: subsequently measured at amortized cost, at fair value through other comprehensive income, and at fair value through profit or loss depending on the contractual cash flows of and our business model for holding the respective asset. Financial assets that are measured at fair value on a recurring basis include debt and equity investments and derivative financial instruments. Trade receivables and contract assets are measured at amortized cost. Purchases or sales of financial assets that require delivery of assets within a time frame established by regulation or convention in the market place (regular way trades) are recognized on the trade date. Our financial liabilities include trade and other payables, the Notes and derivative financial instruments. We generally classify financial liabilities as subsequently measured at amortized cost and at fair value through profit or loss. Financial liabilities that are measured at fair value are the derivative financial instruments. Trade and other payables are measured at amortized cost and the Notes are measured at amortized cost using the effective interest rate (“EIR”) method. Marketable debt securities The Group’s marketable debt securities were classified as instruments at fair value through other comprehensive income. These debt securities give rise to cash flows that are solely payments of principal and interest on the principal amount outstanding. After consideration of our objectives, as well as our liquidity requirements, we may sell these debt securities prior to their stated maturities. As we view these securities as available for use to support current operations, we classify highly liquid securities with maturities beyond 12 months as current assets under the caption short-term investments on the consolidated statements of financial position. Fair value changes of marketable debt securities that have been recognized in other comprehensive income are reclassified to profit or loss upon sale of the financial asset. Strategic investments The Group holds strategic investments in privately held debt and equity securities and publicly held equity securities in which the Company does not have a controlling interest. The Group’s non-marketable debt securities are classified as instruments at fair value through profit or loss. The non-marketable debt securities are convertible notes issued by private companies without quoted market prices. To estimate the fair value of the non-marketable debt securities, we use the income approach utilizing our estimates of timing, probability, and amount of cash flows associated with liquidation of the securities. Financial information of private companies may not be available and consequently we will estimate the fair value based on the best available information at the measurement date. The Group has irrevocably designated the equity investments not accounted for under the equity method as instruments at fair value through other comprehensive income. Changes in fair value of these equity investments are recognized in other comprehensive income and never reclassified to profit or loss, even if the asset is impaired, sold or otherwise derecognized. Marketable equity securities are measured at fair value using readily determinable market value. Non-marketable equity securities are measured at fair value using market data, such as publicly available financing round valuations. Judgment is required particularly in estimating the fair values of non-marketable equity securities. Exchangeable senior notes The Group’s exchangeable senior notes (the “Notes”) were classified as financial liabilities at amortized cost and measured using the EIR method. Amortized cost was calculated by taking into account any discount and issuance cost that were an integral part of the EIR. The EIR amortization was included as finance costs in the consolidated statements of operations. Derivative financial instruments The Group enters into foreign exchange forward contracts with the objective to mitigate certain currency risks associated with cost of revenues and operating expenses denominated in foreign currencies. These foreign exchange forward contracts are designated as cash flow hedges. The Group also enters into foreign exchange forward contracts to hedge a portion of certain foreign currency denominated as monetary asse ts and liabilities to reduce the risk that such foreign currency will be adversely affected by changes in exchange rates. The Group uses interest rate swaps to hedge the variability of cash flows in the interest payments associated with its variable-rate debt due to changes in the LIBOR-based floating interest rate. The interest rate swaps are designated as cash flow hedges. Hedging derivative instruments are recognized as either assets or liabilities and are measured at fair value. At the inception of a hedge relationship, the Group formally designates and documents the hedge relationship to which it wishes to apply hedge accounting and the risk management objective and strategy for undertaking the hedge. The documentation includes identification of the hedging instrument, the hedged item, the nature of the risk being hedged and how the Group will assess whether the hedging relationship meets the hedge effectiveness requirements (including the analysis of sources of hedge ineffectiveness and how the hedge ratio is determined). A hedging relationship qualifies for hedge accounting if it meets all of the following effectiveness requirements: • There is ‘an economic relationship’ between the hedged item and the hedging instrument; • The effect of credit risk does not ‘dominate the value changes’ that result from that economic relationship; and • The hedge ratio of the hedging relationship is the same as the ratio resulting from the quantity of the hedged item and the quantity of the hedging instrument. For derivative instruments designated as cash flow hedges, the effective portion of the gains (losses) on the derivatives is initially reported as a component of other comprehensive income and is subsequently recognized in earnings when the hedged exposure is recognized in earnings. Amounts reclassified from cash flow hedge reserve to profit or loss are recorded to the same functional expense as the hedged item or items. Gains (losses) on derivatives representing hedge ineffectiveness are recognized in earnings. For derivative instruments that are not designated as hedges, gains (losses) from changes in fair values are primarily recognized in other income (expense), net. The Group had other derivatives such as embedded exchange feature of the Notes and capped call transactions (“Exchange and Capped Call Derivatives”). Please see Note 16, “ Debt” for details. The Exchange and Capped Call Derivatives are measured at fair value at each reporting date and gains (losses) from changes in fair values are recognized in other non-operating expense, net. The Group used Black-Scholes option pricing models to fair value the exchange feature of the Notes. Certain inputs used in the model such as stock price volatility requires judgment. The Capped Call Derivatives’ fair value was obtained from counterparty banks. Impairment of financial assets The Group measures loss allowances on debt investments at fair value through other comprehensive income 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. 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. 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. For trade receivables and contract assets, the Group applies a simplified approach in calculating ECLs. The Group does not track changes in credit risk, but instead recognizes a loss allowance based on lifetime ECLs at each reporting date. The Group has established a provision matrix that is based on its historical credit loss experience, adjusted for forward-looking factors specific to the debtors and the economic environment. Derecognition 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. Financial liabilities are 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. Fair value measurement The fair value of financial assets and financial liabilities must be estimated for recognition and measurement or for disclosure purposes. Fair value is 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. When determining fair value, we consider the principal or most advantageous market in which we would transact, as well as assumptions that market participants would use when pricing the asset or liability. The three levels of inputs that may be used to measure fair value are: • 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. Disposal group held for sale The Group classifies the disposal group as held for sale if their carrying amounts will be recovered principally through a sale transaction rather than through continuing use. A disposal group is a group of assets and liabilities which the Group intends to dispose of in a single transaction. The disposal group classified as held for sale are measured at the lower of their carrying amount and fair value less costs to sell. Costs to sell are the incremental costs directly attributable to the disposal of the asset group, excluding finance costs and income tax expense. The criteria for held for sale classification is regarded as met only when the sale is highly probable, and the disposal group is available for immediate sale in its present condition. Actions required to complete the sale should indicate that it is unlikely that significant changes to the sale will be made or that the decision to sell will be withdrawn. Management must be committed to the plan to sell the asset group and the sale expected to be completed within one year from the date of the classification. Assets classified as held for sale are presented separately as current items in the consolidated statement of financial position. Property and equipment Property and equipment are stated at cost, net of accumulated depreciation. 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 years Computer hardware and computer-related software 3 years Furniture and fittings 5 years Leasehold improvements Shorter of the remaining lease term or 7 years Business combinations We include the results of operations of the businesses that we acquire as of the acquisition date. We record the assets acquired and liabilities assumed based on their estimated fair values. The excess of the purchase price over the fair values of these identifiable assets and liabilities is recorded as goodwill. Acquisition-related expenses are recognized separately from the business combination and are expensed as incurred. We use our best estimates and assumptions to accurately assign fair value to the intangible assets acquired at the acquisition date. The estimation is primarily due to the judgmental nature of the inputs to the valuation models used to measure the fair value of these intangible assets, as well as the sensitivity of the respective fair values to the underlying significant assumptions. Our estimates are inherently uncertain and subject to refinement. We use a discounted cash flow method of the income approach to measure the fair value of these intangible assets. Assumptions used to estimate the fair value of the intangible assets include revenue growth rates, technology migration curves, customer attrition rates and discount rates. These assumptions are forward-looking and could be affected by future economic and market conditions. 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 based on additional information obtained affecting the fair value of those assets and liabilities, 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 provisional estimates and assumptions as deemed reasonable by management. The Group records any adjustments to these provisional 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. Please refer to Note 13, “ Business combinations, ” for details. Goodwill Goodwill is the excess of the aggregate of the consideration transferred over the identifiable assets acquired and liabilities assumed. 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. The Group performs its goodwill impairment test at the level of its operating segment as there are no lower levels within the Group at which goodwill is monitored. Impairment is determined for goodwill by assessing the recoverable amount of the operating segment. When the recoverable amount of the operating segment is less than its carrying amount, an impairment loss is recognized. Impairment losses relating to goodwill cannot be reversed in future periods. Intangible assets We acquire intangible assets separately or in connection with business combinations. Intangible assets are measured at cost initially . All of our intangible assets are with finite lives and are amortized over their estimated useful life using the straight-line method. The amortization expense on intangible assets 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 5 - 12 years Customer relationships 3 - 10 years Acquired developed technology 4 - 6 years Intangible assets with finite lives are assessed for impairment whenever there is an indication that the intangible asset may be impaired. When the recoverable amount of an intangible asset is less than its carrying amount, an impairment loss is recognized. Impairment of non-financial assets At the end of each reporting period, the Group assesses whether there is an indication that an asset may be impaired. If any indication exists, or when annual impairment testing for an asset is required, the Group estimates the asset’s recoverable amount. The recoverable amount is determined for an individual asset, unless the asset does not generate cash inflows that are largely independent of those from other assets or groups of assets. An asset’s recoverable amount is the higher of an asset’s or cash generating unit (“CGU”)’s fair value less costs of disposal and its value in use. When the carrying amount of an asset or CGU exceeds its recoverable amount, the asset is considered impaired and is written down to its 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 of disposal, recent market transactions are taken into account. If no such transactions can be identified, an appropriate valuation model is used. Share-based payments Share-based payments cover equity-settled awards including stock options, restricted share units (“RSUs”) and restricted shares issued to our employees in exchange of their service. The cost of the equity-settled awards is determined by the fair value at the grant date. The fair value of RSUs or restricted shares is equal to the market value of our common stock on the grant date. The Group estimates the fair value of stock options using the Black-Scholes option pricing model. This option-pricing model requires the input of assumptions, including the awards’ expected life and the price volatility of the underlying stock. We recognize equity-settled awards cost, net of estimated forfeitures, over the awards’ requisite service period on a graded-vesting basis. No compensation cost is recognized for awards that do not ultimately vest because service conditions have not been met and we estimate forfeiture based on historical experience. The respective expenses are recognized as employee benefits and classified in our con |
Critical Accounting Estimates a
Critical Accounting Estimates and Judgments | 12 Months Ended |
Jun. 30, 2022 | |
Accounting Judgments and Estimates [Abstract] | |
Critical Accounting Estimates and Judgments | Critical Accounting Estimates and JudgmentsManagement has identified the following critical accounting policies for which significant judgments, estimates and assumptions are made. Critical accounting estimates and assumptions The Group based its assumptions and estimates on parameters available when the consolidated financial statements were prepared. Existing circumstances and assumptions about future developments, however, may change due to market changes or circumstances arising that are beyond the control of the Group. Such changes are reflected in the assumptions when they occur. Revenue recognition Determining the SSP for products and services requires estimates and assumptions. We typically determine a SSP range for our products and services which is reassessed on a periodic basis or when facts and circumstances change. For all performance obligations other than perpetual and term licenses, we are able to determine SSP based on the observable prices of products or services sold separately in comparable circumstances to similar customers. In instances where performance obligations do not have observable standalone sales, we utilize available information that may include market conditions, pricing strategies, the economic life of the software, and other observable inputs to estimate the price we would charge if the products and services were sold separately. Critical accounting judgments Impairment of non-financial assets For assets excluding goodwill, and CGUs, impairment assessments are made at each reporting date by evaluating conditions specific to the Group and to the particular asset that may lead to impairment. 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. These include product performance, technology, economic and political environments, and future product expectations. If an impairment trigger exists or when annual impairment testing for an asset is required, the recoverable amount of the asset is determined. The Group operates as a single operating segment and the Group performs the goodwill impairment test at the level of its operating segment as there are no lower levels within the Group at which goodwill is monitored. 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 impairment. There was no impairment of goodwill during the fiscal years 2022, 2021 and 2020. During fiscal year 2021, the Group elected to early terminate one of its office leases. The Group did not have any rights to sublease the facility. The recoverable amount of the related lease assets including right-of-use assets and leasehold improvement was determined to be zero. An impairment charge of $7.4 million was recorded to profit or loss in fiscal year 2021. For details of the office lease impairment, please refer to Note 7, “ Expenses. ” Other than the lease-related assets discussed above, no indicators of impairment existed that were significant enough to warrant non-financial assets to be tested for impairment in the fiscal years 2022, 2021 and 2020. For details of non-financial assets, please refer to Note 10, “ Property and Equipment ”, Note 11, “ Goodwill and Intangible assets ” and Note 12, “ Leases .” Impairment of non-marketable debt and equity investments We assess our privately held debt and equity securities strategic investment portfolio quarterly for impairment. Our impairment analysis encompasses an assessment of both qualitative and quantitative analyses of key factors including the investee’s financial metrics, market acceptance of the product or technology, and any similar new rounds of financing. If the investment is considered to be impaired, we record any privately held equity investments at fair value by recognizing an impairment through the Statement of Financial Position and establishing a new carrying value for the investment. Any adjustments to privately held debt securities are recorded through the Consolidated Statement of Operations. An impairment charge of $0.3 million for privately held equity investments were recorded in other comprehensive loss in fiscal year 2021. There was no impairment of privately held equity investments during the fiscal years 2022 and 2020. Impairment charges of $2.1 million and $2.0 million for privately held debt investments, respectively, were recorded to profit or loss during the fiscal years 2022 and 2021. There was no impairment of privately held debt investments during the fiscal years 2020. Please refer to Note 5, “ Financial Assets and Liabilities |
Group Information
Group Information | 12 Months Ended |
Jun. 30, 2022 | |
Disclosure of interests in other entities [Abstract] | |
Group Information | Group Information As of June 30, 2022, 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 (UK) Operations Limited United Kingdom Atlassian (US) LLC United States of America Atlassian US, Inc. 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 AgileCraft LLC United States of America OpsGenie, Inc. United States of America Opsgenie Yazılım Anonim Şirketi Turkey iFountain, LLC United States of America Halp, Inc. United States of America Buddy AI 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 Good Software Co. Pty Ltd Australia Code Barrel Pty Ltd Australia Lead Green Pty Ltd Australia Lead Green Trust Australia Vertical First Pty Ltd Australia Vertical First Trust Australia Atlassian Capital Pty. Ltd. Australia MITT Australia Pty Ltd Australia MITT Trust Australia Atlassian Holdings B.V. Netherlands Atlassian K.K. Japan Atlassian Germany GmbH Germany Atlassian Philippines, Inc. Philippines Atlassian France SAS France Atlassian B.V. Netherlands Atlassian Canada Inc. Canada Atlassian India LLP India Mindville AB Sweden Atlassian New Zealand New Zealand Atlassian Poland sp z o.o. Poland Chart.io, Inc. United States of America ThinkTilt Pty Ltd Australia |
Financial Assets and Liabilitie
Financial Assets and Liabilities | 12 Months Ended |
Jun. 30, 2022 | |
Disclosure of detailed information about financial instruments [abstract] | |
Financial Assets and Liabilities | Financial Assets and Liabilities 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 (“AUD”), Indian rupee, Euro (“EUR”), British pound, Japanese yen, Philippine peso and Canadian dollar. Foreign exchange risk arises from commercial transactions and recognized financial assets and liabilities denominated in a currency other than the U.S. dollar (“USD”). The Group’s financial risk management policy is reviewed annually by the Group’s Audit Committee and requires the Group to monitor its foreign exchange exposure on a regular basis. The substantial majority 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 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 enter into master netting agreements with financial institutions to execute our hedging program. We recognize all hedging derivative instruments as either assets or liabilities on our consolidated statements of financial position and measure them at fair value. We have the rights to net certain hedging derivative assets and liabilities, but we currently present them on the gross basis. 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. Our master netting agreements are with select financial institutions to reduce our credit risk, and we trade 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 forecast cost of revenues and operating expenses denominated in Australian dollars. These foreign exchange forward contracts are designated as cash flow hedges. There is an economic relationship between the hedged items and the hedging instruments as the terms of the foreign exchange and forward contracts match the terms of the expected highly probable forecast transactions (i.e., notional amount and expected payment date). The Group has established a hedge ratio of 1:1 for the hedging relationships as the underlying risk of the foreign exchange and forward contracts are identical to the hedged risk components. 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. Ineffectiveness mainly rises from the differences in the timing of the cash flows of the hedged items and the hedging instruments. It is our policy to enter into cash flow hedges to hedge cost of revenues and operating expenses up to 24 months. Balance sheet hedging We also enter into foreign exchange forward contracts to hedge a portion of certain foreign currency denominated monetary assets and liabilities to reduce the risk that such foreign currency assets or liabilities will be adversely affected by changes in exchange rates. These contracts hedge monetary assets and liabilities that are denominated in non-functional currencies. 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 exchange rate exposure The Group hedges material foreign currency denominated monetary assets and liabilities using balance sheet hedges. The fluctuations in the fair market value of balance sheet hedges due to foreign currency rates generally offset those of the hedged items, resulting in no material effect on profit. Consequently, we are primarily exposed to significant foreign currency exchange rate fluctuations with regard to the spot component of derivatives held within a designated cash flow hedge relationship affecting other comprehensive income. The following table sets forth foreign currency sensitivity analysis of a hypothetical 10% change in exchange rate of the U.S. dollar against the Australian dollar to our cash flow hedging portfolio: Foreign Currency Sensitivity Effect on other comprehensive income, before tax 2022 2021 (U.S. $ in thousands) Foreign currency forward contracts - cash flow hedging: U.S. dollar +10%, decrease in fair value of foreign currency forward contracts $ (38,198) $ (39,416) U.S. dollar -10%, increase in fair value of foreign currency forward contracts 38,198 39,416 Equity Price Risk The Group is exposed to equity price risk in connection with our equity investments. The Group’s marketable equity investments are susceptible to market price risk from uncertainties about future values of the investment securities. The following table sets forth equity price sensitivity analysis of a hypothetical 10% change in share prices: Equity Price Sensitivity Effect on other comprehensive income, before tax 2022 2021 (U.S. $ in thousands) Fair value change of marketable equity investments: Increase in respective share prices of 10% $ 3,080 $ 11,041 Decrease in respective share prices of 10% (3,080) (11,041) Interest rate risk We have access to a $1 billion senior unsecured delayed-draw term loan facility (the “Term Loan Facility”) and a $500 million senior unsecured revolving credit facility (the “Revolving Credit Facility,” and together with the Term Loan Facility, the “Credit Facility”). The Credit Facility matures in October 2025 and bears a variable interest rate. Please refer to Note 16, “ Debt ” for the details of the Credit Facility. As of June 30, 2022, $1 billion has been drawn under the Term Loan Facility. The Group is exposed to interest rate risk arising from our variable interest rate Credit Facility. The Group’s financial risk management policy is reviewed annually by the Group’s Audit Committee and requires the Group to monitor its interest rate exposure on a regular basis. We have a hedging program in place and enter into derivative transactions to manage the variable interest rate risks that arise with the Group’s Term Loan Facility. We enter into master netting agreements with financial institutions to execute our hedging program. Our master netting agreements are with select financial institutions to reduce our credit risk, and we trade 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 interest rate derivatives. We enter into interest rate swaps with the objective to hedge the variability of cash flows in the interest payments associated with our variable-rate Term Loan Facility . The interest rate swaps involve the receipt of variable-rate amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. The interest rate swaps are designated as cash flow hedges and measured at fair value. As of June 30, 2022 and 2021, we have entered into interest rate swaps with a total notional amount of $650.0 million. In addition, 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, 2022, the Group had cash and cash equivalents totaling $1.4 billion and short-term investments totaling $73.3 million. The following table sets forth an interest rate sensitivity analysis of a hypothetical 100 basis point change in interest rates. This estimate is based on a sensitivity model that measures market value changes when changes in interest rates occur: Interest Rate Sensitivity Effect on other comprehensive income, before tax 2022 2021 (U.S. $ in thousands) Change in market value of marketable debt investments: Interest Rate +100bps, decrease in market value of marketable debt investments $ (284) $ (1,888) Interest Rate -100bps, increase in market value of marketable debt investments 284 259 Change in market value of interest rate swap: Interest Rate +100bps, increase in market value of interest rate swaps $ 17,624 $ 24,845 Interest Rate -100bps, decrease in market value of interest rate swaps (18,789) (20,635) Credit risk The Group is exposed to credit risk arising from cash and cash equivalents, deposits with banks and financial institutions, investments, foreign exchange and interest rate derivative contracts, 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 rating 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 and interest rate 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. Our credit policy typically requires payment within 30-45 days, and we establish credit limits for each customer based on our internal guidelines. The Group does not hold collateral as security or call on other credit enhancements. The Group manages its credit risk with customers by closely monitoring its receivables and contract assets. We continuously monitor outstanding receivables locally to assess whether there is objective evidence that our trade receivables and contract assets are credit-impaired. An impairment analysis is performed at each reporting date using a provision matrix to measure ECLs. The provision rates are based on days past due. Please refer to Note 9, “ Trade Receivables ” for the details of receivables, credit concentration, and ECL allowance. 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 Group’s primary source of cash is cash generated from business operations. The table below presents 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, including its cash, cash equivalents, short-term investments, expected cash flows from operations and borrowing capacity from the Revolving Credit Facility, to meet these commitments as they become due. The Group may enter into financial transactions to secure additional funding to supplement existing cash flows or to maintain financial flexibility. Contractual maturities of financial liabilities are as follows: Less than 1 year 1 - 3 years 3 - 5 years More than 5 years Total (U.S. $ in thousands) As of June 30, 2022 Financial liabilities: Trade and other payables $ 404,908 $ — $ — $ — $ 404,908 Lease liabilities (1) 53,408 99,668 78,577 128,157 359,810 Derivative liabilities 23,288 812 — — 24,100 Term loan facility — 87,500 912,500 — 1,000,000 $ 481,604 $ 187,980 $ 991,077 $ 128,157 $ 1,788,818 As of June 30, 2021 Financial liabilities: Trade and other payables $ 266,497 $ — $ — $ — $ 266,497 Lease liabilities (1) 48,297 77,768 65,227 91,131 282,423 Derivative liabilities 11,438 669 — — 12,107 Exchangeable senior notes (2) 1,109,593 — — — 1,109,593 $ 1,435,825 $ 78,437 $ 65,227 $ 91,131 $ 1,670,620 (1) Lease liabilities represent undiscounted lease payments excluding certain low-value and short-term leases, refer to Note 12, “ Leases ” for details. (2) The amount related to Notes represent the if-exchanged value using stock price as of June 30, 2021. Refer to Note 16, “ Debt ” for details. Capital risk management For the purpose of the Group’s capital management, capital includes issued capital, share premium and all other capital reserves attributable to the equity holders of the parent. 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 the Notes for working capital and other corporate purposes, including acquiring complementary businesses, products, services or technologies. During the fiscal year ended June 30, 2021, the Group entered into a $1.5 billion Credit Facility. The Group will use the net proceeds of the Credit Facility for general corporate purposes, including repayment of the then existing indebtedness. As of June 30, 2022, $1.0 billion has been drawn under the Term Loan Facility, and we are in compliance with all related covenants. During the fiscal year 2022, the Company had fully settled the remaining principal amount of the Notes for aggregate consideration of $1.5 billion in cash and unwound the related capped calls for net proceeds of $135.5 million. Refer to Note 16, “ Debt ” for details. 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 following table presents the Group’s financial assets and liabilities as of June 30, 2022, by level within the fair value hierarchy: Level 1 Level 2 Level 3 Total (U.S. $ in thousands) Description Assets measured at fair value Cash and cash equivalents: Money market funds $ 555,247 $ — $ — $ 555,247 Short-term investments: U.S. treasury securities — 70,294 — 70,294 Certificates of deposit and time deposits — 3,000 — 3,000 Current derivative assets: Derivative assets - foreign exchange hedging — 389 — 389 Derivative assets - interest rate swaps — 13,296 — 13,296 Non-current derivative assets: Derivative assets - interest rate swaps — 30,367 — 30,367 Other non-current assets: Marketable equity securities 30,801 — — 30,801 Non-marketable equity securities — — 126,995 126,995 Non-marketable debt securities — — 1,268 1,268 Total assets measured at fair value $ 586,048 $ 117,346 $ 128,263 $ 831,657 Liabilities measured at fair value Current derivative liabilities: Derivative liabilities - foreign exchange hedging $ — $ 23,288 $ — $ 23,288 Non-current derivative liabilities: Derivative liabilities - foreign exchange hedging — 812 — 812 Total liabilities measured at fair value $ — $ 24,100 $ — $ 24,100 The following table presents the Group’s financial assets and liabilities as of June 30, 2021, by the level within the fair value hierarchy: Level 1 Level 2 Level 3 Total (U.S. $ in thousands) Description Assets measured at fair value Cash and cash equivalents: Money market funds $ 20,966 $ — $ — $ 20,966 Agency securities — 4,600 — 4,600 Commercial paper — 149,347 — 149,347 Short-term investments: U.S. treasury securities — 209,948 — 209,948 Agency securities — 5,752 — 5,752 Certificates of deposit and time deposits — 6,653 — 6,653 Corporate debt securities — 87,948 — 87,948 Municipal securities — 2,700 — 2,700 Current derivative assets: Derivative assets - foreign exchange hedging — 3,333 — 3,333 Derivative assets - capped call transactions — — 124,153 124,153 Non-current derivative assets: Derivative assets - interest rate swaps — 3,147 — 3,147 Other non-current assets: Certificates of deposit and time deposits — 2,600 — 2,600 Marketable equity securities 110,409 — — 110,409 Non-marketable equity securities — — 11,750 11,750 Total assets measured at fair value $ 131,375 $ 476,028 $ 135,903 $ 743,306 Liabilities measured at fair value Current derivative liabilities: Derivative liabilities - foreign exchange hedging $ — $ 8,058 $ — $ 8,058 Derivative liabilities - interest rate swaps — 3,380 — 3,380 Derivative liabilities - exchangeable feature of exchangeable senior notes — — 760,689 760,689 Non-current derivative liabilities: Derivative liabilities - foreign exchange hedging — 669 — 669 Total liabilities measured at fair value $ — $ 12,107 $ 760,689 $ 772,796 Due to the short-term nature of trade receivables, contract assets and trade and other payables, their carrying amount is assumed to approximate their fair value. Determination of fair value The following table sets forth a description of the valuation techniques and the inputs used in fair value measurement: Type Level Valuation Technique Inputs Money market fund Level 1 Quoted price in active market N/A Marketable equity securities Level 1 Quoted price in active market N/A Marketable debt securities Level 2 Quoted market price to the extent possible or alternative pricing sources and models utilizing market observable inputs N/A Non-marketable equity securities Level 3 Last financing round valuation N/A Non-marketable debt securities Level 3 Discounted cash flow Timing, probability, and amount of forecasted cash flows associated with liquidation of the securities Foreign currency forward contracts Level 2 Discounted cash flow Foreign currency spot and forward rate Interest rate swaps Level 2 Discounted cash flow Forward and contract interest rates Exchange feature of the Notes Level 3 Black-Scholes option pricing models Stock price Level 2 September 30, 2021: Redemption Stock price Exchange ratio Capped Call Derivatives Level 3 Non-binding quoted price obtained from counterparty banks N/A *As of September 30, 2021, all outstanding Notes were called for redemption by the Company. As such, the Company used redemption settlement price as fair value. Level 3 financial instruments disclosure In April 2018, Atlassian US, Inc. (formerly known as Atlassian, Inc.), a wholly-owned subsidiary of the Company, issued $1 billion in Notes and entered into related capped call transactions. Please refer to Note 16, “ Debt, ” for details. Exchange and Capped Call Derivatives are classified as Level 3. The exchange feature of the Notes is valued using a Black-Scholes option pricing model as of June 30, 2021. The exchange feature of the Notes was transferred to Level 2 and was settled during fiscal year 2022. There were no other transfers between levels during the fiscal year 2022. The following table presents the reconciliations of Level 3 financial instrument fair values: Capped Call Embedded exchange feature of Notes Non-marketable investments (U.S. $ in thousands) Balance as of June 30, 2020 $ 310,608 $ (1,283,089) $ 3,750 Purchases (203,093) 1,155,484 10,250 Gains (losses) Recognized in other non-operating expense, net 16,638 (633,084) (2,000) Recognized in other comprehensive income — — (250) Balance as of June 30, 2021 $ 124,153 $ (760,689) $ 11,750 Change in unrealized gains (losses) relating to assets and liabilities held as of June 30, 2021 Recognized in other non-operating expense, net $ 14,764 $ (308,820) $ (2,000) Recognized in other comprehensive loss — — (250) Balance as of June 30, 2021 $ 124,153 $ (760,689) $ 11,750 Settlements or purchases (135,497) 1,196,515 111,668 Gains (losses) Recognized in other non-operating expense, net 11,344 (435,826) (2,100) Recognized in other comprehensive income — — 6,945 Balance as of June 30, 2022 $ — $ — $ 128,263 Change in unrealized gains (losses) relating to assets and liabilities held as of June 30, 2022 Recognized in other non-operating expense, net $ — $ — $ (2,100) Recognized in other comprehensive income — — 6,945 During the fiscal years 2022 and 2021, the Group made fifteen and five equity investments, respectively, totaling $108.3 million and $8.2 million, respectively, in privately-held technology companies’ financing rounds. Marketable debt investments As of June 30, 2022, the Group’s investments consisted of the following: Amortized Cost Unrealized Gains Unrealized Losses Fair Value (U.S. $ in thousands) U.S. treasury securities $ 70,947 $ — $ (653) $ 70,294 Certificates of deposit and time deposits 3,000 — — 3,000 Total marketable debt investments $ 73,947 $ — $ (653) $ 73,294 As of June 30, 2022, the Group had $73.3 million of investments which were classified as short-term investments on the Group’s consolidated statements of financial position. As of June 30, 2021, the Group’s investments consisted of the following: Amortized Cost Unrealized Gains Unrealized Losses Fair Value (U.S. $ in thousands) U.S. treasury securities $ 209,567 $ 407 $ (26) $ 209,948 Agency securities 5,750 2 — 5,752 Certificates of deposit and time deposits 9,253 — — 9,253 Corporate debt securities 87,626 322 — 87,948 Municipal securities 2,700 — — 2,700 Total marketable debt investments $ 314,896 $ 731 $ (26) $ 315,601 As of June 30, 2021, the Group had $313.0 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 $2.6 million which were classified as long-term and were included in other non-current assets on the Group’s consolidated statements of financial position. Strategic investments As of June 30, 2022, the Group’s strategic investments consisted of the following: Amortized Cost Unrealized Gains Unrealized Losses Fair Value (U.S. $ in thousands) Marketable equity securities $ 10,270 $ 20,531 $ — $ 30,801 Non-marketable equity securities 120,300 6,695 — 126,995 Non-marketable debt securities 5,368 — (4,100) 1,268 Total strategic investments $ 135,938 $ 27,226 $ (4,100) $ 159,064 As of June 30, 2021, the Group’s strategic investments consisted of the following: Amortized Cost Unrealized Gains Unrealized Losses Fair Value (U.S. $ in thousands) Marketable equity securities $ 10,270 $ 100,139 $ — $ 110,409 Non-marketable equity securities 12,000 — (250) 11,750 Non-marketable debt securities 2,000 — (2,000) — Total strategic investments $ 24,270 $ 100,139 $ (2,250) $ 122,159 In December 2020, the Group sold marketable equity securities following an assessment of its investments. The aggregate fair values of the marketable equity securities on the dates of sale were $38.1 million and the accumulated gains recognized in other comprehensive income were $28.1 million. The effects of the Group’s investments on the consolidated financial statements were as follows (amounts presented are prior to any income tax effects): Fiscal Year Ended June 30, 2022 2021 2020 (U.S. $ in thousands) Unrealized fair value movements on marketable debt investments recognized in other comprehensive income $ (831) $ (4,779) $ 5,750 Gains recognized into profit or loss on sale of debt investments 527 65 697 Unrealized fair value movements on non-marketable debt securities recognized in other non-operating expense, net (2,100) (2,000) — Fair value movements on marketable equity investments recognized in other comprehensive income (79,608) 48,330 41,255 Fair value movements on non-marketable equity investments recognized in other comprehensive income 6,945 (250) — The table below summarizes the Group’s debt investments by remaining contractual maturity based on the effective maturity date: As of June 30, 2022 2021 (U.S. $ in thousands) Recorded as follows: Due in one year or less $ 73,294 $ 265,679 Due after one year — 49,922 Total investments $ 73,294 $ 315,601 Derivative financial instruments The Group has 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 16, “ Debt. ” The fair values of the hedging derivative instruments were as follows: As of June 30, Statement of Financial Position Location 2022 2021 (U.S. $ in thousands) Derivative assets - hedging Derivatives designated as hedging instruments: Foreign exchange forward contracts Current derivative assets $ — $ 3,325 Interest rate swaps Current derivative assets 13,296 — Interest rate swaps Other non-current assets 30,367 3,147 Derivatives not designated as hedging instruments: Foreign exchange forward contracts Current derivative assets 389 8 Total derivative assets $ 44,052 $ 6,480 Derivative liabilities - hedging Derivatives designated as hedging instruments: Foreign exchange forward contracts Current derivative liabilities $ 18,208 $ 5,336 Foreign exchange forward contracts Other non-current liabilities 812 669 Interest rate swaps Current derivative liabilities — 3,380 Derivatives not designated as hedging instruments: Foreign exchange forward contracts Current derivative liabilities 5,080 2,722 Total derivative liabilities $ 24,100 $ 12,107 The following table sets forth the notional amounts of our hedging derivative instruments as of June 30, 2022: 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 (U.S. $ in thousands except average forward rate and average interest rate) Forward contracts: AUD/USD forward contracts: Notional amount $ 593,155 $ 37,015 $ 630,170 $ 401,534 $ 228,636 $ 630,170 Average forward rate 0.7180 0.7038 0.7171 0.7248 0.7037 0.7171 EUR/USD forward contracts: Notional amount 19,368 — 19,368 — 19,368 19,368 Average forward rate 1.0617 — 1.0617 — 1.0617 1.0617 Total $ 612,523 $ 37,015 $ 649,538 $ 401,534 $ 248,004 $ 649,538 Interest rate swaps: Notional amount $ — $ 650,000 $ 650,000 $ 650,000 $ — $ 650,000 Average interest rate 0.81 % 0.81 % 0.81 % 0.81 % The following table sets forth the notional amounts of our hedging derivative instruments as of June 30, 2021: 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 (U.S. $ in thousands except average forward rate and average interest rate) AUD/USD forward contracts: Notional amount $ 623,321 $ 24,627 $ 647,948 $ 397,184 $ 250,764 $ 647,948 Average forward rate 0.7563 0.7718 0.7569 0.7563 0.7579 0.7569 EUR/USD forward contracts: Notional amount 11,040 — 11,040 — 11,040 11,040 Average forward rate 1.2025 — 1.2025 — 1.2025 1.2025 Total $ 634,361 $ 24,627 $ 658,988 $ 397,184 $ 261,804 $ 658,988 Interest rate swaps: Notional amount $ — $ 650,000 $ 650,000 $ 650,000 $ — $ 650,000 Average interest rate 0.81 % 0.81 % 0.81 % 0.81 % 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): Fiscal Year Ended June 30, 2022 2021 2020 (U.S. $ in thousands) Forward contracts: Gross unrealized gains (losses) recognized in other comprehensive income (loss) $ (29,192) $ 19,302 $ 3,048 Net gains (losses) reclassified from cash flow hedge reserve into profit or loss - effective portion $ (12,864) $ 35,077 $ (13,663) Recognized in cost of revenues (525) 1,326 (807) Recognized in research and development (10,513) 28,490 (9,647) Recognized in marketing and sales (220) 400 (273) Recognized in general and administrative (1,606) 4,861 (2,936) Change in fair value used for measuring ineffectiveness: Cash flow hedging instruments $ (29,295) $ 19,312 $ 2,889 Hedged item - highly probable forecast purchases (29,192) 19,302 3,048 Gains (losses) recognized into general and administrative - ineffective portion (103) 10 (159) Interest rate swaps: Gross unrealized gain recognized in other comprehensive income $ 40,613 $ (233) $ — Net loss reclassified from interest rate swap reserve into finance cost (3,153) — — |
Other Non-Operating Expense, Ne
Other Non-Operating Expense, Net | 12 Months Ended |
Jun. 30, 2022 | |
Disclosure of Additional Information [Abstract] | |
Other Non-Operating Expense, Net | Other Non-Operating Expense, Net Other non-operating expense, net consisted of the following: Fiscal Year Ended June 30, 2022 2021 2020 (U.S. $ in thousands) Net loss on exchange derivative and capped calls $ (424,482) $ (616,446) $ (335,953) Foreign currency exchange gain (loss), net 2,695 4,054 910 Contributions to Atlassian Foundation (9,742) (7,809) (5,282) Other income (expense) (3,059) (558) 1,839 Other non-operating expense, net $ (434,588) $ (620,759) $ (338,486) |
Expenses
Expenses | 12 Months Ended |
Jun. 30, 2022 | |
Analysis of income and expense [abstract] | |
Expenses | Expenses Loss before income tax expense included the following expenses: Fiscal Year Ended June 30, 2022 2021 2020 (U.S. $ in thousands) Depreciation: Equipment $ 1,641 $ 2,150 $ 2,077 Computer hardware and software 1,648 1,897 1,096 Furniture and fittings 3,180 3,442 3,000 Leasehold improvements 12,296 16,053 13,563 Total depreciation 18,765 23,542 19,736 Amortization: Patents and trademarks 1,305 1,124 5,377 Customer relationships 8,652 8,939 8,086 Acquired developed technology 22,441 21,691 29,072 Total amortization 32,398 31,754 42,535 Total depreciation and amortization $ 51,163 $ 55,296 $ 62,271 Employee benefits expense: Salaries and wages 880,421 $ 637,143 $ 467,718 Variable compensation 169,695 106,835 82,851 Payroll taxes 88,878 68,543 53,189 Share-based payment expense 707,087 385,732 313,395 Defined contribution plan expense 54,441 39,116 29,783 Contractor expense 29,241 26,589 35,343 Other 124,416 83,350 63,362 Total employee benefits expense $ 2,054,179 $ 1,347,308 $ 1,045,641 Impairment: Right of use assets — 3,759 — Property and equipment — 3,676 — Total impairment $ — $ 7,435 $ — The impairment charge during fiscal year 2021 was related to our leased office space. During fiscal year 2021, the Group elected to early terminate one of our office leases. The recoverable amount of the related lease assets including right-of-use assets and leasehold improvement was determined to be zero. The impairment charge was classified within the statement of operations as follows: Fiscal Year Ended June 30, 2021 (U.S. $ in thousands) Cost of revenues $ 1,710 Research and development 3,217 Marketing and sales 195 General and administrative 2,313 |
Income Tax
Income Tax | 12 Months Ended |
Jun. 30, 2022 | |
Income Taxes [Abstract] | |
Income Tax | Income Tax The major components of income tax expense for the fiscal years ended 2022, 2021 and 2020 are as follows: Fiscal Year Ended June 30, 2022 2021 2020 (U.S. $ in thousands) Current income tax: Current income tax charge $ (51,417) $ (74,126) $ (25,715) Adjustments in respect of current income tax of previous years (472) 702 1,276 Deferred tax: Benefit relating to origination and reversal of temporary differences 2,186 11,422 18,702 Adjustments in respect of temporary differences of previous years 151 351 1,292 Income tax expense $ (49,552) $ (61,651) $ (4,445) A reconciliation between income tax expense and the product of accounting loss multiplied by the UK's domestic tax rate for the fiscal years ended 2022, 2021 and 2020, is as follows: Fiscal Year Ended June 30, 2022 2021 2020 (U.S. $ in thousands) Loss before income tax expense $ (564,572) $ (634,664) $ (346,209) At the United Kingdom's statutory income tax rate of 19% in fiscal years 2022, 2021 and 2020 107,269 120,586 65,688 Tax effect of amounts that are not taxable (deductible) in calculating taxable income: Research and development incentive 15,597 7,693 6,816 Non-deductible charges relating to exchangeable senior notes (92,275) (149,265) (80,262) Share-based payment (9,162) (14,674) (10,619) Foreign tax credits not utilized (518) (166) (93) Foreign tax paid 9,105 15,797 4,765 Foreign tax rate differential 30,879 (9,008) 1,416 Adjustment to unrecognized deferred tax balance (102,986) (37,062) 8,835 Other items, net (7,140) 3,395 (3,559) (49,231) (62,704) (7,013) Adjustments in respect to current income tax of previous years (472) 702 1,276 Adjustments in respect to deferred income tax of previous years 151 351 1,292 Income tax expense $ (49,552) $ (61,651) $ (4,445) In March 2021, the UK announced an increase in the main corporate tax rate from 19% to 25%, effective for financial years beginning after April 1, 2023. Due to the magnitude of our UK operations, this change is not expected to have a material impact to the Company. Details of deferred taxes, recognized and unrecognized: As of June 30, 2022 2021 (U.S. $ in thousands) Depreciation for tax purposes $ 2,143 $ 275 Provisions, accruals and prepayments (3,245) (1,427) Deferred revenue 2,963 (948) Unrealized foreign currency exchange losses (gains) (3,450) 9 Unrealized investment gains (16,205) (23,150) Carried forward tax losses 8,101 7,610 Carried forward tax credits—credited to profit and loss 13,557 9,129 Intangible assets 10,409 15,555 Tax benefit from share plans—income 1,651 1,143 Tax benefit from share plans—equity 133 733 Other, net 246 620 Deferred tax assets, net $ 16,303 $ 9,549 Reflected in the consolidated statements of financial position as follows: Deferred tax assets $ 42,760 $ 36,174 Deferred tax liabilities (26,457) (26,625) Deferred tax assets, net $ 16,303 $ 9,549 Items for which no deferred tax asset has been recognized: Depreciation and amortization for tax purposes $ 15,720 $ 9,747 Provisions, accruals and prepayments 61,597 45,711 Deferred revenue 161,508 86,722 Unrealized foreign currency exchange gains 2,484 3,569 Unused tax losses 1,005,649 814,106 Intangible assets 1,527,714 1,682,610 Tax benefit from share plans- income 76,843 69,113 Tax benefit from share plans- equity 15,402 74,631 Carried forward tax credits- credited to profit and loss 142,178 100,251 Unrealized loss on investments 11,169 1,541 Other, net 38,561 28,063 $ 3,058,825 $ 2,916,064 Details of deferred tax benefits and expenses: Fiscal Year Ended June 30, 2022 2021 2020 (U.S. $ in thousands) Depreciation for tax purposes $ 1,691 $ (215) $ (2,564) Provisions, accruals and prepayments (1,697) (1,843) (7,164) Deferred revenue 1,291 (1,198) (23,932) Unrealized foreign currency exchange losses (gains) (802) 1,422 (101) Unrealized investment losses (gains) 8 5,269 (405) Carried forward tax losses (gains) 1,966 1,970 (409) Carried forward tax credits—credited to profit and loss 6,757 5,555 (3,005) Intangible assets (3,853) 44 13,095 Tax benefit from share plans—income 718 162 331 Tax benefit (expense) from share plans—equity (870) (704) 300 Deferred foreign taxes — — 10,605 Other, net (2,872) 1,311 (2,667) Deferred tax benefit (expense) $ 2,337 $ 11,773 $ (15,916) Reconciliation of net deferred tax assets: 2022 2021 (U.S. $ in thousands) Balance at the beginning of $ 9,549 $ 4,047 Deferred tax expense for the year 2,337 11,773 Credited (Debited) to equity 6,975 (6,147) Impact from business combinations (733) (97) Currency revaluation impact (341) (27) Balance at the end of $ 16,303 $ 9,549 The assessment of the realizability of the Australian and U.S. deferred tax assets is based on all available positive and negative evidence. Such evidence includes, but is not limited to, recent cumulative earnings or losses, expectations of future taxable income by taxing jurisdiction, and the carry-forward periods available for the utilization of deferred tax assets. The assessment of the recoverability of Australian and U.S. deferred tax assets will not change until there is sufficient evidence to support their realizability. The Group will continue to assess and record any necessary changes to align its deferred tax assets to their realizable value. The Group does not have any material deferred tax liabilities associated with investments in its subsidiaries. The Group recognizes certain amounts directly in equity including current tax benefits related to tax deductions in excess of cumulative book expense for share based payment awards, deferred tax benefits related to revaluing its deferred tax assets for share based payment awards to fair market value at each reporting date, and deferred tax expense or benefit related to unrealized gains and losses that are recorded in other comprehensive income. 2022 2021 (U.S. $ in thousands) Amounts recognized directly in equity: Net deferred tax—credited (debited) directly to equity $ 6,975 $ (6,147) 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, 2022 (U.S. $ in thousands) U.S. net operating loss (Pre - 2017 Tax Reform) June 30, 2030-December 30, 2038 $ 137,635 $ 230 U.S. net operating loss (Post - 2017 Tax Reform) None 4,290,309 7,172 State net operating loss- various states June 30, 2024-June 30, 2041 1,269,537 685 UK net operating loss None 14,602 — U.S. research and development credits June 30, 2025-June 30, 2041 98,885 813 State research and development credits- California None 54,033 374 State research and development credits- Texas June 30, 2036-June 30, 2041 6,157 6,157 Australia capital loss None 4,637 — India alternative minimum tax credits March 31, 2036 - March 31, 2037 6,211 6,211 Poland research and development credits June 30,2026 - June 30,2028 1,729 — |
Trade Receivables
Trade Receivables | 12 Months Ended |
Jun. 30, 2022 | |
Trade and other receivables [abstract] | |
Trade Receivables | Trade Receivables The Group’s trade receivables consisted of the following: As of June 30, 2022 2021 (U.S. $ in thousands) Gross trade receivables $ 312,172 $ 173,849 Expected credit loss allowance (4,045) (376) Total trade receivables $ 308,127 $ 173,473 As of June 30, 2022 and 2021, no customer represented more than 10% of the total trade receivables balance. Expected Credit Loss Allowance The movements in the ECL allowance were as follows: (U.S. $ in thousands) As of June 30, 2020 $ 1,156 Change in estimate (780) As of June 30, 2021 $ 376 Change in estimate 3,669 As of June 30, 2022 $ 4,045 The following table sets forth the information about the credit risk exposure on the Group's trade receivables using a provision matrix: Past due days Current < 90 days > 90 days Total (U.S. $ in thousands except ECL rate) As of June 30, 2022 ECL rate — % 3.3 % 23.1 % Trade receivables carrying amount $ 256,418 $ 44,636 $ 11,118 $ 312,172 ECL allowance — 1,479 2,566 4,045 As of June 30, 2021 ECL rate — % 0.3 % 20.9 % Trade receivables carrying amount $ 157,804 $ 14,468 $ 1,577 $ 173,849 ECL allowance 6 41 329 376 For the purpose of the provision matrix, customers are clustered into different risk classes, mainly based on past due days of trade receivables. We also consider market information such as the country risk assessment of their country of origin, type of industry and objective evidence of credit impairment for individual receivables. Loss rates used to reflect lifetime ECL are based on its historical credit loss experience, adjusted for forward-looking factors specific to the debtors and the economic environment. |
Property and Equipment
Property and Equipment | 12 Months Ended |
Jun. 30, 2022 | |
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 Construction in progress* Total (U.S. $ in thousands) As of June 30, 2021 Opening cost balance $ 9,652 $ 12,065 $ 19,687 $ 103,100 $ 11,261 $ 155,765 Additions 1,077 170 2,051 4,807 21,872 29,977 Transfer to assets held for sale — — — — (35,123) (35,123) Disposals (311) (2,694) (643) (1,266) — (4,914) Effect of change in exchange rates 12 (4) 93 355 1,990 2,446 Closing cost balance 10,430 9,537 21,188 106,996 — 148,151 Opening accumulated depreciation (5,618) (8,611) (8,388) (35,500) — (58,117) Depreciation expense (2,150) (1,897) (3,442) (16,053) — (23,542) Impairment — — — (3,676) — (3,676) Effect of change in exchange rates (7) 4 (31) (99) — (133) Disposals 230 1,442 602 1,264 — 3,538 Closing accumulated depreciation and impairment (7,545) (9,062) (11,259) (54,064) — (81,930) Net book balance $ 2,885 $ 475 $ 9,929 $ 52,932 $ — $ 66,221 As of June 30, 2022 Opening cost balance $ 10,430 $ 9,537 $ 21,188 $ 106,996 $ — $ 148,151 Additions 78 16,818 6,409 28,628 — 51,933 Disposals (1,160) (7,720) (2,230) (14,631) — (25,741) Effect of change in exchange rates (208) (311) (210) (1,326) — (2,055) Closing cost balance 9,140 18,324 25,157 119,667 $ — 172,288 Opening accumulated depreciation (7,545) (9,062) (11,259) (54,064) — (81,930) Depreciation expense (1,641) (1,648) (3,180) (12,296) — (18,765) Effect of change in exchange rates 130 88 119 1,083 — 1,420 Disposals 1,153 7,720 2,149 14,519 — 25,541 Closing accumulated depreciation and impairment (7,903) (2,902) (12,171) (50,758) — (73,734) Net book balance $ 1,237 $ 15,422 $ 12,986 $ 68,909 $ — $ 98,554 *Construction in progress is related to the construction project associated with our new headquarters building in Sydney, Australia. As of June 30, 2021, construction in progress has been transferred to assets held for sale. Please refer to Note 14, “ Other Balance Sheet Accounts ,” for details of the transaction. |
Goodwill and Intangible Assets
Goodwill and Intangible Assets | 12 Months Ended |
Jun. 30, 2022 | |
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, or when indicators of impairment exist. Goodwill consisted of the following: Goodwill Note (U.S. $ in thousands) Balance as of June 30, 2020 $ 645,140 Additions 13 80,649 Effect of change in exchange rates (31) Balance as of June 30, 2021 $ 725,758 Additions 13 9,361 Effect of change in exchange rates (2,453) Balance as of June 30, 2022 $ 732,666 Additions to goodwill during fiscal year 2022 were as a result of an acquisition completed during the fiscal year. Additions to goodwill during fiscal year 2021 were as a result of the acquisitions completed during the fiscal year including, primarily Mindville AB (“Mindville”) and Chart.io, Inc. (“Chartio”). See Note 13, “ Business combinations ” for additional information regarding acquisitions. Intangible assets Intangible assets consisted of the following: Patents, Acquired Developed Technology Customer Total (U.S. $ in thousands) As of June 30, 2021 Opening cost balance $ 27,795 $ 214,744 $ 128,502 $ 371,041 Additions 1,800 23,005 1,849 26,654 Disposals (220) (6,900) (310) (7,430) Closing cost balance 29,375 230,849 130,041 390,265 Opening accumulated amortization (23,205) (147,146) (71,000) (241,351) Amortization charge (1,124) (21,691) (8,939) (31,754) Disposals 220 6,900 310 7,430 Closing accumulated amortization (24,109) (161,937) (79,629) (265,675) Net book balance $ 5,266 $ 68,912 $ 50,412 $ 124,590 As of June 30, 2022 Opening cost balance $ 29,375 $ 230,849 $ 130,041 $ 390,265 Additions 4,018 3,769 861 8,648 Disposals — — (1,400) (1,400) Closing cost balance 33,393 234,618 129,502 397,513 Opening accumulated amortization (24,109) (161,937) (79,629) (265,675) Amortization charge (1,305) (22,441) (8,652) (32,398) Disposals — — 1,400 1,400 Closing accumulated amortization (25,414) (184,378) (86,881) (296,673) Net book balance $ 7,979 $ 50,240 $ 42,621 $ 100,840 As of June 30, 2022, no development costs have qualified for capitalization, and all development costs have been expensed as incurred. |
Leases
Leases | 12 Months Ended |
Jun. 30, 2022 | |
Presentation of leases for lessee [abstract] | |
Leases | Leases The Group leases various offices in locations including, Sydney, Australia; the San Francisco Bay Area, California, New York, New York, Austin, Texas, and Boston, Massachusetts, in the United States; Amsterdam, the Netherlands; Manila, the Philippines; Bengaluru, India; Yokohama, Japan; and Gdansk, Poland under leases expiring within one The following table sets forth the carrying amounts of our right-of-use assets and lease obligations and the movements during the fiscal years ended June 30, 2022 and 2021: Fiscal Year Ended June 30, 2022 2021 (U.S. $ in thousands) Right-of-use assets Balance at the beginning of period $ 205,300 $ 217,683 Additions 105,592 28,939 Disposals — (256) Depreciation expense (42,795) (37,552) Effect of change in exchange rates (769) 245 Impairment of right-of-use asset — (3,759) Balance at the end of period $ 267,328 $ 205,300 Lease obligations Balance at the beginning of period $ 256,549 $ 264,568 Additions 105,961 27,042 Disposals — (270) Interest expense 7,257 7,019 Payments (49,142) (44,874) Effect of change in exchange rates (5,553) 3,064 Balance at the end of period $ 315,072 $ 256,549 Lease obligations, current $ 40,638 $ 42,446 Lease obligations, non-current 274,434 214,103 Total lease obligations, as the end of period $ 315,072 $ 256,549 The following table presents supplemental information about our leases: Fiscal Year Ended June 30, 2022 2021 Short-term leases and low value leases expense: Short-term leases expense $ 363 $ 336 Low value leases expense $ 2,198 $ 1,436 Cash outflows: Principal portion of the lease obligations $ 41,885 $ 37,855 Interest portion of the lease obligations 7,257 7,019 Short-term leases and low value leases 2,035 2,999 Total cash outflows $ 51,177 $ 47,873 As of June 30, 2022, we have entered into an Agreement for Lease (the “AFL”) for our new global headquarters in Sydney, Australia (the “Australian HQ Property”). Following completion of the development of the Australian HQ Property, the AFL requires the Group to enter into a lease agreement for the planned headquarters office space. The lease is expected to commence in fiscal year 2027 and will continue for 15 years, with the Group’s option to extend the term for up to two additional ten-year periods. Future lease payments are approximately $1.0 billion for the initial term of 15 years. Please refer to Note 14, “ Other Balance Sheet Accounts, ” for details of the transaction. |
Business Combinations
Business Combinations | 12 Months Ended |
Jun. 30, 2022 | |
Disclosure of detailed information about business combination [abstract] | |
Business Combinations | Business Combinations Fiscal year 2022 We acquired a company primarily to expand our products and services offerings during the fiscal year ended June 30, 2022. The acquisition is not significant to our consolidated financial statements. Fiscal year 2021 Mindville On July 24, 2020, we acquired 100% of the outstanding equity of Mindville, an asset and configuration management company based in Sweden. Total purchase price consideration for Mindville was approximately $36.4 million in cash. In addition, the Company granted $12.0 million worth of restricted shares of the Company to key employees of Mindville, which are subject to future vesting provisions based on service conditions and accounted for as share based compensation. For details of restricted shares, please refer to Note 22, “ Share-based Payments .” With the acquisition of Mindville, Atlassian brings critical configuration management database capabilities to Jira Service Management to better meet the needs of its IT customers. We have included the financial results of Mindville in our consolidated financial statements from the date of acquisition, which have not been material. Pro forma results of operations have not been presented for the twelve months ended June 30, 2021 because the effect of the acquisition was not material to the financial statements. 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 $ 1,235 Tax receivables, current 166 Prepaid expenses and other current assets 668 Property and equipment, net 52 Right-of-use assets, net 403 Intangible assets 9,600 Goodwill 30,039 Trade and other payables (492) Tax liabilities (23) Provisions, current (135) Deferred revenue (1,300) Lease obligations, current (268) Deferred tax liabilities (2,694) Lease obligations, non-current (136) Other non-current liabilities (669) Net assets acquired $ 36,446 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. The goodwill balance is deductible in the U.S. and not deductible in Sweden 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 liabilities were primarily a result of the difference in the book basis and tax basis related to the identifiable intangible assets. Transaction costs of $1.1 million were expensed as incurred, which was included in general and administrative expenses. 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 $ 8,200 5 Customer relationships 1,400 5 Total intangible assets subject to amortization $ 9,600 The amount recorded for developed technology represents the estimated fair value of Mindville’s asset and configuration management solution. The amount recorded for customer relationships represents the fair value of the underlying relationships with Mindville’s customers. The purchase price allocation was finalized in fiscal year 2022 without further adjustment. Chartio On February 26, 2021, we acquired 100% of the outstanding equity of Chart.io, Inc. (“Chartio”), a data analytics and visualization tool that allows users to create dashboards and charts using their various data sources. Total purchase price consideration for Chartio was approximately $45.6 million, consisting of $45.0 million in cash and $0.6 million in equity. In addition, the Company granted $4.5 million worth of restricted shares of the Company to key employees of Chartio, which are subject to future vesting provisions based on service conditions and accounted for as share based compensation. The acquisition of Chartio brings an analytics and data visualization solution to Atlassian’s products, including Jira Software, Jira Align and Jira Service Management. We have included the financial results of Chartio in our consolidated financial statements from the date of acquisition. Pro forma results of operations have not been presented for the twelve months ended June 30, 2021 because the effect of the acquisition was not material to the financial statements. 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 $ 1,035 Accounts receivable 266 Prepaid and other assets 40 Deferred tax assets 3,133 Developed technology 12,400 Goodwill 33,437 Deferred revenue (682) Trade and other payables (674) Deferred tax liabilities (3,387) Net assets acquired $ 45,568 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. The goodwill balance is not deductible in the U.S. 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 fair value of acquired receivables approximates the gross contractual amounts receivable. The deferred tax liabilities were primarily a result of the difference in the book basis and tax basis related to the identifiable intangible assets. The amount recorded for developed technology of $12.4 million represents the estimated fair value of Chartio’s data visualization technology and is amortized over six years. The purchase price allocation was finalized in fiscal year 2022 without further adjustment. Other fiscal year 2021 business combinations On October 27, 2020, we acquired 100% of the outstanding equity of a privately held company in Poland that primarily provided outsourced software development and support services to Atlassian for a cash consideration of approximately $10.6 million. The purchase price was allocated to net liabilities of $0.7 million and goodwill of $11.3 million. The goodwill balance is primarily attributed to the assembled workforce and is deductible in the U.S. and not deductible in Poland for income tax purposes. On April 12, 2021, we acquired 100% of the outstanding equity of a privately held company in Australia which sells a no-code/low-code form builder for Jira for a cash consideration of approximately $9.2 million. The purchase price was allocated to net assets of $0.3 million, developed technology of $2.4 million, customer relationship of $0.5 million and goodwill of $6.0 million. The goodwill balance is primarily attributed to the assembled workforce and expanded market opportunities. The goodwill balance is deductible in the U.S. and not deductible in Australia for income tax purposes. Fiscal Year 2020 Code Barrel On October 15, 2019, we acquired 100% of the outstanding equity of Code Barrel, a workflow automation tool for Jira. Total purchase price consideration for Code Barrel was approximately $39.1 million in cash. In addition, the Company granted $27.0 million worth of restricted shares of the Company to key employees of Code Barrel, which are subject to future vesting provisions based on service conditions and accounted for as share-based compensation. Code Barrel is the creator of ‘Automation for Jira,’ a tool for easily automating several aspects of Jira. The acquisition of Code Barrel enhances Jira by helping customers automate more of the time-consuming and error-prone tasks in Jira. We have included the financial results of Code Barrel in our consolidated financial statements from the date of acquisition, which have not been material. Pro forma results of operations have not been presented for the twelve months ended June 30, 2022 because the effect of the acquisition was not material to the financial statements. 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 $ 1,970 Intangible assets 15,900 Goodwill 23,124 Trade and other payables (617) Deferred revenue (600) Deferred tax liabilities (639) Net assets acquired $ 39,138 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. The goodwill balance is deductible in Australia and not deductible in the U.S. 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 liabilities were primarily a result of the difference in the book basis and tax basis related to the identifiable intangible assets. 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 $ 13,700 4 Customer relationships 1,800 3 Trade name 400 1 Total intangible assets subject to amortization $ 15,900 The amount recorded for developed technology represents the estimated fair value of Code Barrel’s workflow automation technology. The amount recorded for customer relationships represents the fair value of the underlying relationships with Code Barrel’s customers. The amount recorded for trade name represents the fair value of Code Barrel’s brand recognition as of acquisition date. The purchase price allocation was finalized in fiscal year 2021 without further adjustment. Halp On May 11, 2020, we acquired 100% of the outstanding equity of Halp, a message-based conversational help desk ticketing solution. Total purchase price consideration for Halp was approximately $17.6 million, which consisted of approximately $17.0 million in cash and $0.6 million in fair value of replacement shares attributable to service provided prior to acquisition. The Company issued 9,929 replacement shares and the fair value of the replacement shares was based on grant date stock price of the Company. In addition, the Company granted $4.1 million worth of restricted shares of the Company to key employees of Halp, which are subject to future vesting provisions based on service conditions and accounted for as share based compensation. We acquired Halp to provide customers a standalone solution that allows them to turn their internal messaging tool into a help desk. For customers using Jira Service Management or similar service management tools, Halp integrates their messaging tool seamlessly with their established workflows. We have included the financial results of Halp in our consolidated financial statements from the date of acquisition, which have not been material to date. Pro forma results of operations have not been presented for the twelve months ended June 30, 2020 because the effect of the acquisition was not material to the financial statements. The following table summarizes the preliminary 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 $ 664 Trade receivables 36 Prepaid expenses and other current assets 22 Deferred tax assets 475 Intangible assets 5,350 Goodwill 12,322 Deferred revenue (50) Deferred tax liabilities (1,237) Net assets acquired $ 17,582 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. 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 fair value of acquired receivables approximates the gross contractual amounts receivable. 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 $ 4,400 6 Customer relationships 850 6 Trade name 100 1 Total intangible assets subject to amortization $ 5,350 The amount recorded for developed technology represents the estimated fair value of Halp’s message-based help desk ticketing technology. The amount recorded for customer relationships represents the fair value of the underlying relationships with Halp’s customers. The amount recorded for trade name represents the fair value of Halp’s brand recognition as of the acquisition date. The purchase price allocation was finalized in fiscal year 2021 without further adjustment. |
Other Balance Sheet Accounts
Other Balance Sheet Accounts | 12 Months Ended |
Jun. 30, 2022 | |
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, 2022 2021 (U.S. $ in thousands) Cash and bank deposits $ 820,959 $ 739,042 Amounts due from third-party credit card processors 9,059 5,272 Money market funds 555,247 20,966 Commercial paper — 149,347 Agency securities — 4,600 Total cash and cash equivalents $ 1,385,265 $ 919,227 The majority of the Group’s cash and cash equivalents are held in bank deposits, money market funds and short-term investments which have a maturity of three months or less to enable us to meet our short-term liquidity requirements. Money market funds are quoted in active markets and are subject to insignificant risk of changes in value. The Group only purchases investment grade securities rated A- and above, which are highly liquid and subject to insignificant risk of changes in value. Prepaid expenses and other current assets Prepaid expenses and other current assets consisted of the following: As of June 30, 2022 2021 (U.S. $ in thousands) Prepaid expenses $ 40,384 $ 33,923 Deferred commission 8,806 3,226 Accrued interest income on short-term investments 621 1,411 Other receivables 3,746 6,149 Other current assets 4,520 3,613 Total prepaid expenses and other current assets $ 58,077 $ 48,322 Assets held for sale During the fourth quarter of the fiscal year ended June 30, 2021, the Group committed to a plan to sell a controlling interest of our subsidiary, Vertical First Trust (“VFT”), which was established for the construction project associated with the Australian HQ Property. In July 2021, the Group entered into a term sheet with a buyer to effect the sale. The term sheet provides a framework for the buyer to invest in and develop the Australian HQ Property. In March 2022, the Group entered into a series of agreements with the buyer, including the Agreement for Lease. As part of the contemplated transactions and subject to certain contingencies, the buyer was to take control of VFT and construct the Australian HQ Property. The Group will retain a minority equity interest in Vertical First Trust. On July 20, 2022, the Group completed a non-cash sale of a controlling interest of VFT to the buyer as part of the contemplated transactions, please refer to Note 23, “ Events after the reporting period, ” for details. The assets were presented as held for sale in the consolidated statements of financial position as of June 30, 2022 and 2021 measured at the lower of carrying value or fair value less cost to sell. The major assets classified as held for sale at June 30, 2022 and 2021 and were as follows: As of June 30, 2022 June 30, 2021 (U.S. $ in thousands) Cash and cash equivalents $ 2,701 $ 9,317 Property and equipment, net $ 57,482 $ 34,092 The following table sets forth the carrying amounts of property and equipment, net in assets held for sale and the movements during the fiscal year ended June 30, 2022: Fiscal Year Ended June 30, 2022 (U.S. $ in thousands) Balance at the beginning of period $ 34,092 Additions 26,899 Effect of change in exchange rates (3,509) Balance at the end of period $ 57,482 Other non-current assets Other non-current assets consisted of the following: As of June 30, 2022 2021 (U.S. $ in thousands) Security deposits $ 948 $ 4,267 Restricted cash 1,422 11,795 Derivative assets 30,367 3,147 Deferred commission 18,335 5,785 Other 9,668 12,642 Total other non-current assets $ 60,740 $ 37,636 As of June 30, 2022 and 2021, the Group’s restricted cash was primarily used for the benefit of employees through a deferred compensation plan and for commitments of standby letters of credit related to facility leases and was not available for the Group’s use in its operations, respectively. As of June 30, 2021, the Group had certificates of deposit and time deposits totaling $2.6 million, which were classified as long-term and were included in security deposits. Trade and other payables Trade and other payables consisted of the following: As of June 30, 2022 2021 (U.S. $ in thousands) Trade payables $ 67,355 $ 40,366 Accrued expenses 161,599 101,940 Accrued bonus 126,687 91,894 Value-added tax payables 14,887 10,152 Current portion of contingent consideration 1,500 6,896 Customer deposits 9,718 8,832 Liabilities held for sale 17,564 949 Other payables 5,598 5,468 Total trade and other payables $ 404,908 $ 266,497 Current provisions Current provisions consisted of the following: As of June 30, 2022 2021 (U.S. $ in thousands) Employee benefits $ 32,796 $ 24,690 Dilapidation provision — 458 Total current provisions $ 32,796 $ 25,148 Current provisions for employee benefits include accrued annual leave, long service leave and retention benefits. 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. 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 lease related assets at the expiration of these leases. Non-current provisions Non-current provisions consisted of the following: As of June 30, 2022 2021 (U.S. $ in thousands) Employee benefits $ 8,630 $ 7,255 Dilapidation provision 5,174 5,180 Total non-current provisions $ 13,804 $ 12,435 The non-current provision for employee benefits includes long service leave and retention benefits as described above. The dilapidation provision relates to certain lease arrangements for office space entered into by the Group as described above. |
Revenue
Revenue | 12 Months Ended |
Jun. 30, 2022 | |
Disclosure of revenue from contracts with customers [Abstract] | |
Revenue | Revenue Deferred revenues We record deferred revenues when cash payments are received or due in advance of our performance, including amounts which are refundable. The changes in the balances of deferred revenue are as follows: Fiscal Year Ended June 30, 2022 2021 Balance, beginning of period $ 897,595 $ 601,005 Additions 3,087,967 2,385,722 Subscription revenue (2,096,706) (1,324,064) Maintenance revenue (495,077) (522,971) Other revenue (211,099) (242,097) Balance, end of period $ 1,182,680 $ 897,595 The additions in the deferred revenue balance are primarily cash payments received or due in advance of satisfying our performance obligations. For the fiscal years ended June 30, 2022 and 2021, approximately 29% and 27% of revenue recognized was from the deferred revenue balances at the beginning of each fiscal year, respectively. Transaction price allocated to remaining performance obligations Transaction price allocated to the remaining performance obligations represents contracted revenue that has not yet been recognized, which includes unearned revenue and unbilled amounts that will be recognized as revenue in future periods. Transaction price allocated to the remaining performance obligations is influenced by several factors, including the timing of renewals, the timing of delivery of software licenses, average contract terms, and foreign currency exchange rates. Unbilled portions of the remaining performance obligations are subject to future economic risks including bankruptcies, regulatory changes and other market factors. As of June 30, 2022, approximately $1.3 billion of revenue is expected to be recognized from transaction price allocated to remaining performance obligations. We expect to recognize revenue on approximately 84% of these remaining performance obligations over the next 12 months with the balance recognized thereafter. Disaggregated revenue 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, 2022 2021 2020 (U.S. $ in thousands) Americas: United States $ 1,230,801 $ 901,389 $ 700,893 Other Americas 178,067 127,092 101,606 Total Americas $ 1,408,868 $ 1,028,481 $ 802,499 EMEA: United Kingdom $ 187,863 $ 139,411 $ 110,887 Other EMEA 889,475 687,034 522,848 Total EMEA $ 1,077,338 $ 826,445 $ 633,735 Asia Pacific $ 316,676 $ 234,206 $ 177,939 Total revenues $ 2,802,882 $ 2,089,132 $ 1,614,173 No one customer has accounted for more than 10% of revenue for the fiscal years ended 2022, 2021, and 2020. The Group provides different deployment options for our product offerings. Cloud offerings provide customers the right to use our software in a cloud-based infrastructure that we provide. Data Center offerings are on-premises term license agreements for our Data Center products, which are software licensed for a specified period, and includes support and maintenance service that is bundled with the license for the term of the license period. Server offerings include the license of software on a perpetual basis to customers for use on the customer’s premises and support and maintenance service of unspecified future updates, upgrades and enhancements and technical product support. Marketplace and services offerings mainly include fees received for sales of third-party apps in the Atlassian Marketplace and services like premier support, technical account management, consulting and training. Premier support consists of subscription-based arrangements for a higher level of support across different deployment options, and revenues from this offering are included in Subscription revenues within our Consolidated Statements of Operations. For the fiscal years ended June 30, 2022, 2021 and 2020, premier support revenues were $21.0 million, $20.0 million, and $21.1 million, respectively. The Group’s revenues by deployment options are as follows: Fiscal Year Ended June 30, 2022 2021 2020 (U.S. $ in thousands) Cloud $ 1,515,424 $ 967,832 $ 696,628 Data Center 560,319 336,273 213,678 Server 525,028 607,778 564,513 Marketplace and services 202,111 177,249 139,354 Total revenues $ 2,802,882 $ 2,089,132 $ 1,614,173 Deferred commissions Deferred commissions are costs incurred to obtain a contract if such costs are recoverable, and consist primarily of sales commissions, related payroll taxes, and third-party referral fees. Incremental costs of obtaining a contract are earned on new and expansion contracts which are capitalized and amortized over the average period of benefit that we have determined to be four years, which is typically greater than the term of the initial customer contract and reflects the average period of benefit, including anticipated renewals. We determine the period of benefit by taking into consideration the initial estimated customer life and the technological life and related significant features. Amortization of capitalized contract costs are commensurate to the pattern of revenue recognition, or when the transfer of control of the related goods or services occurs. Therefore, a portion of commissions related to our Data Center offering is expensed when the control of the license is transferred to the customer, and all other commissions are amortized on a straight-line basis over the four-year period. Amortization of deferred commissions is included in marketing and sales expense in the consolidated statements of operations. We apply the practical expedient to expense costs as incurred for contract costs when the amortization period would have been one year or less. These costs include commissions on one-year renewal contracts as we have determined such commissions are commensurate with annual sales activities. We periodically review these deferred commissions to determine whether events or changes in circumstances have occurred that could impact the period of benefit. There were no impairments of deferred commissions for fiscal year ended June 30, 2022 and 2021. The changes in the balances of deferred commissions are as follows: Fiscal Year Ended June 30, 2022 2021 (U.S. $ in thousands) Balance, beginning of period $ 9,011 $ 4,495 Additions 24,302 7,450 Amortization expense (6,172) (2,934) Balance, end of period $ 27,141 $ 9,011 Deferred commission included in prepaid expenses and other current assets $ 8,806 $ 3,226 Deferred commission included in other non-current assets 18,335 5,785 Total deferred commission, as the end of period $ 27,141 $ 9,011 |
Debt
Debt | 12 Months Ended |
Jun. 30, 2022 | |
Borrowings [abstract] | |
Debt | Debt Exchangeable Senior Notes 2023 Exchangeable Senior Notes In 2018, Atlassian US, Inc., a wholly owned subsidiary of the Company, issued $1 billion in aggregate principal amount of Notes due on May 1, 2023. The Notes were senior, unsecured obligations of the Group, and were scheduled to mature on May 1, 2023, unless earlier exchanged, redeemed or repurchased. The Notes bore 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. The net proceeds from the offering of the Notes were approximately $990.0 million, after deducting issuance cost. The Notes were classified as Level 2 instruments, and the estimated fair value of the Notes was $1,151 million as of June 30, 2021. In connection with the issuance of the Notes, the Company entered into privately negotiated capped call transactions with certain financial institutions. The aggregate cost of the capped calls was $87.7 million. The capped call transactions were scheduled to expire in May 2023 and were required to be settled in cash. The capped call transactions were expected to generally offset cash payments due, limited by a capped price per share. The initial cap price of the capped call transactions was $114.42 per share and was subject to certain adjustments under the terms of the capped call transactions. The fair value of capped call assets was $124.2 million as of June 30, 2021. As of June 30, 2022, the Notes and the related capped call transactions were fully settled and no longer outstanding. The exchange feature of the Notes required bifurcation from the Notes and was accounted for as a derivative liability. The capped call transactions were accounted for as derivative assets. The Notes embedded exchange derivative and capped call assets were carried on the consolidated statements of financial position at their estimated fair values and were adjusted at the end of each reporting period, with unrealized gain or loss reflected in the consolidated statements of operations. The current or non-current classification of the embedded exchange derivative liability and the capped calls asset corresponds with the classification of the Notes on the consolidated statements of financial position. The classification was evaluated at each balance sheet date. As of June 30, 2021, the closing price exchange condition has been met and the Notes, exchange derivative liability and the capped call assets were classified as current. Please refer to Note 5, “ Financial Assets and Liabilities ” for details on the valuation of exchange feature derivative liability and capped call assets. During fiscal year 2021, we repurchased $643.2 million principal amount of the Notes in privately-negotiated transactions for aggregate consideration of $1.8 billion in cash. In addition, we settled $4.7 million principal amount of the Notes through early exchange requests for aggregate consideration of $12.8 million during fiscal year 2021. We unwound the corresponding portion of our capped calls for net proceeds of $203.1 million. During fiscal year 2022, we fully settled $352.2 million principal amount of the Notes for aggregate consideration of $1.5 billion in cash and unwound the corresponding portion of our capped calls for net proceeds of $135.5 million. The principal amount, unamortized debt discount, unamortized issuance costs and net carrying amount of the liability component of the Notes as of June 30, 2022 and 2021 were as follows: As of June 30, 2022 2021 (U.S. $ in thousands) Principal amount $ — $ 352,171 Unamortized debt discount — (3,224) Unamortized issuance cost — (148) Net liability $ — $ 348,799 The effective interest rate, contractual interest expense and amortization of debt discount for the Notes for the fiscal year ended June 30, 2022 and 2021 were as follows: Fiscal Year Ended June 30, 2022 2021 (U.S. $ in thousands) Effective interest rate 4.83 % 4.83 % Contractual interest expense $ — $ 4,859 Amortization of debt discount $ 3,224 $ 102,673 Amortization of issuance cost $ 148 $ 4,703 Credit Facility In October 2020, Atlassian US, Inc. entered into a $1 billion Term Loan Facility and a $500 million Revolving Credit Facility. The Group will use the net proceeds of the Credit Facility for general corporate purposes, including repayment of the then existing indebtedness. The Credit Facility matures in October 2025 and bears interest, at the Group’s option, at a base rate plus a margin up to 0.50% or LIBOR rate plus a spread of 0.875% to 1.50%, in each case with such margin being determined by the Group’s consolidated leverage ratio. The Revolving Credit Facility may be borrowed, repaid, and re-borrowed until its maturity, and the Group has the option to request an increase of $250 million in certain circumstances. The Group may prepay the Credit Facility at its discretion without penalty. Commencing on October 31, 2023, we are obligated to repay the outstanding principal amount of the Credit Facility in installments on a quarterly basis in an amount equal to 1.25% of the Credit Facility borrowing amount until the maturity of the Credit Facility. The Group is also obligated to pay a ticking fee and a commitment fee on the undrawn amounts of the Term Loan Facility and Revolving Credit Facility, respectively, at an annual rate ranging from 0.075% to 0.20%, determined by the Group’s consolidated leverage ratio. The Credit Facility requires compliance with various financial and non-financial covenants, including affirmative and negative covenants. The financial covenants include a maximum consolidated leverage ratio of 3.5x, which increases to 4.5x during the period of four fiscal quarters immediately following a material acquisition. As of June 30, 2022, the Group was in compliance with all related covenants. During the fiscal year ended June 30, 2022, the Group drew $1.0 billion from the Term Loan Facility. The principal amount and unamortized issuance costs of the Term Loan as of June 30, 2022 were as follows: As of June 30, 2022 (U.S. $ in thousands) Principal amount $ 1,000,000 Unamortized issuance cost (581) Net liability $ 999,419 The total contractual interest expense, including the ticking fee and commitment fee, for the Credit Facility was $11.6 million for the fiscal year 2022. Reconciliation of assets and liabilities arising from financing activities: Capped call assets Exchangeable Notes, net Embedded exchange feature of Notes Term loan Facility (U.S. $ in thousands) Balance as of June 30, 2020 $ (310,608) $ 889,183 $ 1,283,089 $ — Cash flows 203,093 (647,760) (1,155,484) — Amortization of debt discount and issuance cost — 107,376 — — Fair value changes (16,638) — 633,084 — Accrual of interest — — — — Balance as of June 30, 2021 $ (124,153) $ 348,799 $ 760,689 $ — Cash flows 135,497 (352,171) (1,196,515) 1,000,000 Amortization of debt discount and issuance cost — 3,372 — 160 Fair value changes (11,344) — 435,826 — Other — — — (741) Balance as of June 30, 2022 $ — $ — $ — $ 999,419 |
Shareholders' Equity
Shareholders' Equity | 12 Months Ended |
Jun. 30, 2022 | |
Disclosure of classes of share capital [abstract] | |
Shareholders' Equity | Shareholders’ Equity Share capital As of June 30, As of June 30, 2022 2021 2022 2021 (number of shares) (U.S. $ in thousands) Details Class A ordinary shares 144,819,265 137,037,518 $ 14,481 $ 13,703 Class B ordinary shares 110,035,649 114,609,645 11,004 11,461 254,854,914 251,647,163 $ 25,485 $ 25,164 Movements in Class A ordinary share capital Number of Shares Amount (U.S. $ in thousands) Details Balance as of June 30, 2020 127,685,599 $ 12,768 Conversion of Class B ordinary shares 5,152,036 515 Exercise of share options 390,802 39 Issuance for settlement of RSUs 3,468,136 347 Vesting of early exercised shares 340,945 34 Balance as of June 30, 2021 137,037,518 $ 13,703 Conversion of Class B ordinary shares 4,573,996 457 Exercise of share options 42,973 4 Issuance for settlement of RSUs 2,958,190 296 Vesting of early exercised shares 206,588 21 Balance as of June 30, 2022 144,819,265 $ 14,481 Class A shares as of June 30, 2022 and June 30, 2021 does not include 72,484 and 270,251 shares of restricted stock outstanding, respectively, that are subject to forfeiture or repurchase. Movements in Class B ordinary share capital Number of Shares Amount (U.S. $ in thousands) Details Balance as of June 30, 2020 119,761,681 $ 11,976 Conversion to Class A ordinary shares (5,152,036) (515) Balance as of June 30, 2021 114,609,645 $ 11,461 Conversion to Class A ordinary shares (4,573,996) (457) Balance as of June 30, 2022 110,035,649 $ 11,004 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 transferred Class B ordinary share 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 ten votes. Share premium Share premium consists of additional consideration for shares above the nominal value of shares in issue. Other capital reserves As of June 30, 2022 2021 (U.S. $ in thousands) Capital redemption reserve $ 98 $ 98 Merger reserve 34,943 34,943 Share-based payments reserve 2,188,779 1,481,568 Other capital reserves $ 2,223,820 $ 1,516,609 Capital redemption and merger reserves The Company has capital redemption and merger reserves of $35.0 million in total at June 30, 2022, 2021 and 2020. They are comprised of a $98 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 and reduces the share-based payments reserve. Other components of equity 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 related to the Group’s debt investments is reclassified to the consolidated statements of operations upon the sale of the investment. In contrast, the cumulative amount related to the Group’s equity investments will remain in other comprehensive income upon the sale of the investments. |
Earnings Per Share
Earnings Per Share | 12 Months Ended |
Jun. 30, 2022 | |
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. A reconciliation of the calculation of basic and diluted loss per share is as follows: Fiscal Year Ended June 30, 2022 2021 2020 (U.S. $ and shares in thousands, except per share data) Numerator: Net loss attributable to ordinary shareholders $ (614,124) $ (696,315) $ (350,654) Denominator: Weighted-average ordinary shares outstanding—basic and diluted 253,312 249,679 244,844 Net loss per share attributable to ordinary shareholders: Basic and diluted net loss per share $ (2.42) $ (2.79) $ (1.43) The computed net loss per share for fiscal years ended June 30, 2022, 2021 and 2020 does not assume conversion of securities that would have an antidilutive effect on earnings per share. For fiscal years ended June 30, 2022, 2021 and 2020, there were 4.8 million, 5.0 million and 6.8 million shares excluded as conversion of such securities would have an antidilutive effect on net loss per share, respectively. |
Commitments
Commitments | 12 Months Ended |
Jun. 30, 2022 | |
Disclosure of commitments [Abstract] | |
Commitments | Commitments The Group has contractual commitments for services with third-parties related to its cloud services platform and other infrastructure services. These commitments are non-cancellable and expire within one The following table sets forth contractual commitments as of June 30, 2022 and 2021: Fiscal Year Ended June 30, 2022 2021 (U.S. $ in thousands) Capital purchase obligations $ 9,028 $ 11,076 Other purchase obligations 143,907 114,060 Obligations for leases that have not yet commenced 956,118 88,855 Total purchase obligation $ 1,109,053 $ 213,991 Maturities of purchase obligations as of June 30, 2022 were as follows: Capital purchase obligations Other purchase obligations Obligations for leases that have not yet commenced Total (U.S. $ in thousands) Fiscal Period: Year ending 2023 $ 9,028 $ 98,847 $ — $ 107,875 Year ending 2024 - 2025 — 35,816 — 35,816 Year ending 2026 - 2027 — 9,244 35,812 45,056 Thereafter — — 920,306 920,306 Total commitments $ 9,028 $ 143,907 $ 956,118 1,109,053 |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Jun. 30, 2022 | |
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 Group’s key management personnel is as follows: Fiscal Year Ended June 30, 2022 2021 2020 (U.S. $ in thousands) Executive management: Short-term compensation and benefits $ 4,986 $ 3,303 $ 3,334 Post-employment benefits 81 71 68 Share-based payments 58,531 12,053 15,509 $ 63,598 $ 15,427 $ 18,911 Board of directors: Cash remuneration $ 585 $ 480 $ 455 Share-based payments 2,040 1,780 1,741 $ 2,625 $ 2,260 $ 2,196 |
Geographic Information
Geographic Information | 12 Months Ended |
Jun. 30, 2022 | |
Disclosure of geographical areas [abstract] | |
Geographic Information | Geographic Information The Group’s non-current operating assets by geographic regions are as follows: Fiscal Year Ended June 30, 2022 2021 (U.S. $ in thousands) Non-current operating assets: United States $ 1,066,260 $ 1,002,992 Australia 127,418 107,015 India 7,367 125 Total non-current operating assets $ 1,201,045 $ 1,110,132 |
Share-based Payments
Share-based Payments | 12 Months Ended |
Jun. 30, 2022 | |
Disclosure of share-based payment arrangements [Abstract] | |
Share-based Payments | Share-based Payments The Group maintains three share-based employee compensation plans: the 2015 Share Incentive Plan (“2015 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 Company’s board of directors approved the 2015 Plan, and in November 2015, our shareholders adopted the 2015 Plan, effective on the date of our IPO, which serves as the successor to the Option Plans, and provides for the issuance of incentive and non-statutory 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 over four years with 25% vesting on the one year anniversary of the date of grant and 1/12 th of the remaining RSUs vest over the remaining three years, on a quarterly basis thereafter. Effective from April 2021, new RSU grants to existing employees vest evenly over four years on a quarterly basis. Performance-based RSUs have non-market performance vesting conditions. Individuals must continue to provide services to a Group entity in order to vest. The Option Plans allowed for the issuance of options to purchase restricted shares. Effective upon our IPO, 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 four 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 Balance as of June 30, 2020 35,911,586 458,174 2.65 7,371,743 RSUs granted (2,415,324) — — 2,415,324 RSUs canceled 777,183 — — (777,183) RSUs settled — — — (3,468,136) Share options exercised — (390,802) 2.98 — Share options canceled — — — Balance as of June 30, 2021 34,273,445 67,372 $ 0.75 5,541,748 RSUs granted (4,093,600) — — 4,093,600 RSUs canceled 653,161 — — (653,161) RSUs settled — — — (2,958,190) Share options exercised — (42,973) 0.76 — Balance as of June 30, 2022 30,833,006 24,399 $ 0.73 6,023,997 Share options vested and exercisable as of June 30, 2022 24,399 $ 0.73 Share options vested and exercisable as of June 30, 2021 67,372 $ 0.75 The weighted-average remaining contractual life for options outstanding as of June 30, 2022 and 2021 was 2.8 and 3.9 years, respectively. Options exercisable as of June 30, 2022 and 2021, had a weighted-average remaining contractual life of approximately 2.7 and 3.9 years, respectively. The following table summarizes information about share options outstanding as of June 30, 2022: Options Outstanding and Exercisable Range of Number Weighted Weighted $0.59 - 0.66 21,997 $ 0.62 2.66 $1.14 1,673 1.14 4.07 $3.18 729 3.18 1.33 24,399 $ 0.73 2.72 The following table summarizes information about share options outstanding as of June 30, 2021: Options Outstanding and Exercisable Range of Number Weighted Weighted $0.59 - 0.66 53,037 $ 0.61 3.64 $1.14 13,606 1.14 5.07 $3.18 729 3.18 2.33 67,372 $ 0.75 3.92 The weighted-average grant date fair value of the RSUs issued during the fiscal years ended June 30, 2022 and 2021 was $332.4 and $192.6 per share, respectively. There were no share options granted during the fiscal year ended June 30, 2022 and 2021. Restricted stock During the fiscal years 2022 and 2021, the Company granted 8,821 and 95,499 shares of restricted stock that were subject to forfeiture, respectively. The weighted average grant fair values of these restricted shares was $313.8 and $200.5, with a weighted average vesting period of 3.0 years and 1.7 years , respectively. As of June 30, 2022 and 2021, there were 72,484 and 270,251 shares of restricted stock outstanding, respectively. These outstanding shares of restricted stock are subject to forfeiture or repurchase at the original exercise price during the repurchase period following employee termination, as applicable. 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, with the exception of Restricted Stock, as shown above). As of June 30, 2022, the Group had an aggregate of $675.8 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 remaining p eriod of 1.5 years. |
Events after reporting period
Events after reporting period | 12 Months Ended |
Jun. 30, 2022 | |
Disclosure of non-adjusting events after reporting period [abstract] | |
Events after the reporting period | Events after the reporting period As discussed in Note 14, “ Other balance Sheet Accounts ,” in July 2022, the Group completed the sale of a controlling interest of our subsidiary, Vertical First Trust (“VFT”), which was established for the construction project associated with the Australian HQ Property. The Group retained a minority equity interest of 13.2% in the form of ordinary shares and has significant influence in VFT. The Group’s interest in VFT will be accounted for using the equity method in the consolidated financial statements. The Group is finalizing the valuation of its retained interest and expects the recoverable amount of the held for sale assets to exceed its carrying value. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Jun. 30, 2022 | |
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. |
Critical accounting estimates and judgments | The consolidated financial statements have been prepared on a historical cost basis, except for debt and equity financial assets and derivative financial instruments that have been measured at fair value. Use of estimates 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, revenue 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. Significant estimates, assumptions and judgments made by management include revenue recognition and impairment of non-financial assets (see Note 3, “ Critical Accounting Estimates and Judgments ”). Other estimates, assumptions and judgments made by management include business combinations, fair value measurement of financial instruments and accounting for income taxes. In March 2020, the World Health Organization declared a novel coronavirus (“COVID-19”) a pandemic. The impact of COVID-19 has been difficult to predict and the full extent of the impact will depend on a number of factors, including the continued duration and spread of the outbreak and related variants, its severity, the actions taken by governments and authorities to contain the virus or treat its impact, the effectiveness of current vaccines and therapeutic treatments, and the extent to which normal economic and operating conditions continue to resume. The Group considered the impact of COVID-19 on the assumptions and estimates used, including the allowance for credit losses for accounts receivable, the creditworthiness of customers entering into revenue arrangements, our impairment assessment of assets, the fair values of our financial instruments, and income taxes, which require increased judgement and carry a higher degree of estimate uncertainty. The Group determined that there were no material adverse impacts on the consolidated financial statements for the fiscal years ended June 30, 2022 and 2021 . As events continue to evolve and additional information becomes available, the Group’s assumptions and estimates may change in future periods. 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 or intended to be sold or consumed in the normal operating cycle; 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. Critical accounting estimates and assumptions The Group based its assumptions and estimates on parameters available when the consolidated financial statements were prepared. Existing circumstances and assumptions about future developments, however, may change due to market changes or circumstances arising that are beyond the control of the Group. Such changes are reflected in the assumptions when they occur. Revenue recognition Determining the SSP for products and services requires estimates and assumptions. We typically determine a SSP range for our products and services which is reassessed on a periodic basis or when facts and circumstances change. For all performance obligations other than perpetual and term licenses, we are able to determine SSP based on the observable prices of products or services sold separately in comparable circumstances to similar customers. In instances where performance obligations do not have observable standalone sales, we utilize available information that may include market conditions, pricing strategies, the economic life of the software, and other observable inputs to estimate the price we would charge if the products and services were sold separately. Critical accounting judgments Impairment of non-financial assets For assets excluding goodwill, and CGUs, impairment assessments are made at each reporting date by evaluating conditions specific to the Group and to the particular asset that may lead to impairment. 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. These include product performance, technology, economic and political environments, and future product expectations. If an impairment trigger exists or when annual impairment testing for an asset is required, the recoverable amount of the asset is determined. The Group operates as a single operating segment and the Group performs the goodwill impairment test at the level of its operating segment as there are no lower levels within the Group at which goodwill is monitored. 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 impairment. There was no impairment of goodwill during the fiscal years 2022, 2021 and 2020. During fiscal year 2021, the Group elected to early terminate one of its office leases. The Group did not have any rights to sublease the facility. The recoverable amount of the related lease assets including right-of-use assets and leasehold improvement was determined to be zero. An impairment charge of $7.4 million was recorded to profit or loss in fiscal year 2021. For details of the office lease impairment, please refer to Note 7, “ Expenses. ” Other than the lease-related assets discussed above, no indicators of impairment existed that were significant enough to warrant non-financial assets to be tested for impairment in the fiscal years 2022, 2021 and 2020. For details of non-financial assets, please refer to Note 10, “ Property and Equipment ”, Note 11, “ Goodwill and Intangible assets ” and Note 12, “ Leases .” Impairment of non-marketable debt and equity investments We assess our privately held debt and equity securities strategic investment portfolio quarterly for impairment. Our impairment analysis encompasses an assessment of both qualitative and quantitative analyses of key factors including the investee’s financial metrics, market acceptance of the product or technology, and any similar new rounds of financing. If the investment is considered to be impaired, we record any privately held equity investments at fair value by recognizing an impairment through the Statement of Financial Position and establishing a new carrying value for the investment. Any adjustments to privately held debt securities are recorded through the Consolidated Statement of Operations. |
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. |
Principles of consolidation | Principles of consolidationThe consolidated financial statements incorporate the financial positions 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. |
Segment | Segment The Group operates 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 results of operations 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 results of operations 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. |
Foreign currency | Foreign currency The Group's consolidated financial statements are presented using the U.S. dollar, which is the Company's functional currency. Some of the Group’s foreign subsidiaries’ functional currency is the local currency. We translate the financial statements of these subsidiaries to U.S. dollars using month-end exchange rates for assets and liabilities, and average exchange rates for revenue, costs, and expenses. Adjustments resulting from translating foreign functional currency financial statements into U.S. dollars are recorded as a separate component on the consolidated statements of comprehensive loss. Foreign currency transaction gains and losses from re-measurement of monetary assets and liabilities that are denominated in currencies other than the respective functional currencies are included in other non-operating expense, net in the consolidated statements of operations for the period. |
Revenue recognition | Revenue recognition Policies, Estimates and Judgments Revenues are generally recognized upon the transfer of control of promised products or services provided to our customers, reflecting the amount of consideration we expect to receive for those products or services. We enter into contracts that can include various combinations of products and services, which are generally capable of being distinct and accounted for as separate performance obligations. Revenue is recognized net of sales and other similar taxes collected from customers, which are subsequently remitted to governmental authorities. The revenue recognition policy is consistent for sales generated directly with customers and sales generated indirectly through solution partners and resellers. Revenues are recognized upon the application of the following steps: 1. identification of the contract or contracts with a customer; 2. identification of the performance obligations in the contract; 3. determination of the transaction price; 4. allocation of the transaction price to the performance obligations in the contract; and 5. recognition of revenue when, or as, the performance obligation is satisfied. The timing of revenue recognition may differ from the timing of billing our customers. We receive payments from customers based on a billing schedule as established in our contracts. Contract assets are recognized when performance is completed in advance of scheduled billings. Deferred revenue is recognized when billings are in advance of performance under the contract. Our r evenue arrangements include standard warranty provisions that our products and services will perform and operate in all material respects with the applicable published specifications, the financial impacts of which have historically been, and are expected to continue to be insignificant. Our contracts do not include a significant financing component. Our contracts with customers often include promises to transfer multiple products and services to a customer. Determining whether products and services are considered distinct performance obligations that should be accounted for separately versus together may require judgment. We allocate the transaction price for each contract to each performance obligation based on the relative standalone selling price (“SSP”) for each performance obligation. We use judgment in determining the SSP for products and services. We typically determine an SSP range for our products and services which is reassessed on a periodic basis or when facts and circumstances change. For all performance obligations other than perpetual and term licenses, we are able to determine SSP based on the observable prices of products or services sold separately in comparable circumstances to similar customers. In instances where performance obligations do not have observable standalone sales, we utilize available information that may include market conditions, pricing strategies, the economic life of the software, and other observable inputs to estimate the price we would charge if the products and services were sold separately. Our products are generally sold with a right of return, we may provide other credits or incentives, and in certain instances we estimate customer usage of our services, which are accounted for as variable consideration when determining the amount of revenue to recognize. Returns and credits are estimated at contract inception and updated at the end of each reporting period if additional information becomes available. Variable consideration was not material for the periods presented. Recognition of revenue Revenue recognized from contracts with customers is disaggregated into categories that depict how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors. We report our revenues in three categories: (i) subscription, (ii) maintenance, and (iii) other. In addition, we present revenue by geographic region in Note 16, “ Revenue. ” Subscription revenues Subscription revenues consist primarily of fees earned from subscription-based arrangements for providing customers the right to use our software in a cloud-based-infrastructure that we provide. We also sell on-premises term license agreements for our Data Center products, which consist of software licensed for a specified period and include support and maintenance services that are bundled with the license for the term of the license period. Subscription revenues also include subscription-based agreements for our premier support services. Subscription revenues are driven primarily by the number and size of active licenses, the type of product and the price of the licenses. Our subscription-based arrangements generally have a contractual term of one Maintenance revenues Maintenance revenues represent 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. Maintenance revenue is recognized ratably over the term of the support period. Other revenues |
Cash and cash equivalents | Cash and cash equivalents The Group considers all highly liquid investments purchased with an original maturity of three months or less and subject to an insignificant risk of changes in value to be cash equivalents. Cash equivalents also include |
Financial instruments | Financial Instruments A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity. Our financial assets include trade receivables and contract assets, debt and equity investments and derivative financial instruments. We generally classify financial assets into the following categories: subsequently measured at amortized cost, at fair value through other comprehensive income, and at fair value through profit or loss depending on the contractual cash flows of and our business model for holding the respective asset. Financial assets that are measured at fair value on a recurring basis include debt and equity investments and derivative financial instruments. Trade receivables and contract assets are measured at amortized cost. Purchases or sales of financial assets that require delivery of assets within a time frame established by regulation or convention in the market place (regular way trades) are recognized on the trade date. Our financial liabilities include trade and other payables, the Notes and derivative financial instruments. We generally classify financial liabilities as subsequently measured at amortized cost and at fair value through profit or loss. Financial liabilities that are measured at fair value are the derivative financial instruments. Trade and other payables are measured at amortized cost and the Notes are measured at amortized cost using the effective interest rate (“EIR”) method. Marketable debt securities The Group’s marketable debt securities were classified as instruments at fair value through other comprehensive income. These debt securities give rise to cash flows that are solely payments of principal and interest on the principal amount outstanding. After consideration of our objectives, as well as our liquidity requirements, we may sell these debt securities prior to their stated maturities. As we view these securities as available for use to support current operations, we classify highly liquid securities with maturities beyond 12 months as current assets under the caption short-term investments on the consolidated statements of financial position. Fair value changes of marketable debt securities that have been recognized in other comprehensive income are reclassified to profit or loss upon sale of the financial asset. Strategic investments The Group holds strategic investments in privately held debt and equity securities and publicly held equity securities in which the Company does not have a controlling interest. The Group’s non-marketable debt securities are classified as instruments at fair value through profit or loss. The non-marketable debt securities are convertible notes issued by private companies without quoted market prices. To estimate the fair value of the non-marketable debt securities, we use the income approach utilizing our estimates of timing, probability, and amount of cash flows associated with liquidation of the securities. Financial information of private companies may not be available and consequently we will estimate the fair value based on the best available information at the measurement date. The Group has irrevocably designated the equity investments not accounted for under the equity method as instruments at fair value through other comprehensive income. Changes in fair value of these equity investments are recognized in other comprehensive income and never reclassified to profit or loss, even if the asset is impaired, sold or otherwise derecognized. Marketable equity securities are measured at fair value using readily determinable market value. Non-marketable equity securities are measured at fair value using market data, such as publicly available financing round valuations. Judgment is required particularly in estimating the fair values of non-marketable equity securities. Exchangeable senior notes The Group’s exchangeable senior notes (the “Notes”) were classified as financial liabilities at amortized cost and measured using the EIR method. Amortized cost was calculated by taking into account any discount and issuance cost that were an integral part of the EIR. The EIR amortization was included as finance costs in the consolidated statements of operations. Derivative financial instruments The Group enters into foreign exchange forward contracts with the objective to mitigate certain currency risks associated with cost of revenues and operating expenses denominated in foreign currencies. These foreign exchange forward contracts are designated as cash flow hedges. The Group also enters into foreign exchange forward contracts to hedge a portion of certain foreign currency denominated as monetary asse ts and liabilities to reduce the risk that such foreign currency will be adversely affected by changes in exchange rates. The Group uses interest rate swaps to hedge the variability of cash flows in the interest payments associated with its variable-rate debt due to changes in the LIBOR-based floating interest rate. The interest rate swaps are designated as cash flow hedges. Hedging derivative instruments are recognized as either assets or liabilities and are measured at fair value. At the inception of a hedge relationship, the Group formally designates and documents the hedge relationship to which it wishes to apply hedge accounting and the risk management objective and strategy for undertaking the hedge. The documentation includes identification of the hedging instrument, the hedged item, the nature of the risk being hedged and how the Group will assess whether the hedging relationship meets the hedge effectiveness requirements (including the analysis of sources of hedge ineffectiveness and how the hedge ratio is determined). A hedging relationship qualifies for hedge accounting if it meets all of the following effectiveness requirements: • There is ‘an economic relationship’ between the hedged item and the hedging instrument; • The effect of credit risk does not ‘dominate the value changes’ that result from that economic relationship; and • The hedge ratio of the hedging relationship is the same as the ratio resulting from the quantity of the hedged item and the quantity of the hedging instrument. For derivative instruments designated as cash flow hedges, the effective portion of the gains (losses) on the derivatives is initially reported as a component of other comprehensive income and is subsequently recognized in earnings when the hedged exposure is recognized in earnings. Amounts reclassified from cash flow hedge reserve to profit or loss are recorded to the same functional expense as the hedged item or items. Gains (losses) on derivatives representing hedge ineffectiveness are recognized in earnings. For derivative instruments that are not designated as hedges, gains (losses) from changes in fair values are primarily recognized in other income (expense), net. The Group had other derivatives such as embedded exchange feature of the Notes and capped call transactions (“Exchange and Capped Call Derivatives”). Please see Note 16, “ Debt” for details. The Exchange and Capped Call Derivatives are measured at fair value at each reporting date and gains (losses) from changes in fair values are recognized in other non-operating expense, net. The Group used Black-Scholes option pricing models to fair value the exchange feature of the Notes. Certain inputs used in the model such as stock price volatility requires judgment. The Capped Call Derivatives’ fair value was obtained from counterparty banks. Impairment of financial assets The Group measures loss allowances on debt investments at fair value through other comprehensive income 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. 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. 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. For trade receivables and contract assets, the Group applies a simplified approach in calculating ECLs. The Group does not track changes in credit risk, but instead recognizes a loss allowance based on lifetime ECLs at each reporting date. The Group has established a provision matrix that is based on its historical credit loss experience, adjusted for forward-looking factors specific to the debtors and the economic environment. Derecognition 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. Financial liabilities are 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. |
Fair value measurement | Fair value measurement The fair value of financial assets and financial liabilities must be estimated for recognition and measurement or for disclosure purposes. Fair value is 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. When determining fair value, we consider the principal or most advantageous market in which we would transact, as well as assumptions that market participants would use when pricing the asset or liability. The three levels of inputs that may be used to measure fair value are: • 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. |
Disposal group held for sale | Disposal group held for sale The Group classifies the disposal group as held for sale if their carrying amounts will be recovered principally through a sale transaction rather than through continuing use. A disposal group is a group of assets and liabilities which the Group intends to dispose of in a single transaction. The disposal group classified as held for sale are measured at the lower of their carrying amount and fair value less costs to sell. Costs to sell are the incremental costs directly attributable to the disposal of the asset group, excluding finance costs and income tax expense. The criteria for held for sale classification is regarded as met only when the sale is highly probable, and the disposal group is available for immediate sale in its present condition. Actions required to complete the sale should indicate that it is unlikely that significant changes to the sale will be made or that the decision to sell will be withdrawn. Management must be committed to the plan to sell the asset group and the sale expected to be completed within one year from the date of the classification. Assets classified as held for sale are presented separately as current items in the consolidated statement of financial position. |
Property and equipment | Property and equipment Property and equipment are stated at cost, net of accumulated depreciation. 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 years Computer hardware and computer-related software 3 years Furniture and fittings 5 years Leasehold improvements Shorter of the remaining lease term or 7 years |
Business combinations | Business combinations We include the results of operations of the businesses that we acquire as of the acquisition date. We record the assets acquired and liabilities assumed based on their estimated fair values. The excess of the purchase price over the fair values of these identifiable assets and liabilities is recorded as goodwill. Acquisition-related expenses are recognized separately from the business combination and are expensed as incurred. We use our best estimates and assumptions to accurately assign fair value to the intangible assets acquired at the acquisition date. The estimation is primarily due to the judgmental nature of the inputs to the valuation models used to measure the fair value of these intangible assets, as well as the sensitivity of the respective fair values to the underlying significant assumptions. Our estimates are inherently uncertain and subject to refinement. We use a discounted cash flow method of the income approach to measure the fair value of these intangible assets. Assumptions used to estimate the fair value of the intangible assets include revenue growth rates, technology migration curves, customer attrition rates and discount rates. These assumptions are forward-looking and could be affected by future economic and market conditions. |
Goodwill | Goodwill Goodwill is the excess of the aggregate of the consideration transferred over the identifiable assets acquired and liabilities assumed. 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. The Group performs its goodwill impairment test at the level of its operating segment as there are no lower levels within the Group at which goodwill is monitored. Impairment is determined for goodwill by assessing the recoverable amount of the operating segment. When the recoverable amount of the operating segment is less than its carrying amount, an impairment loss is recognized. Impairment losses relating to goodwill cannot be reversed in future periods. |
Intangible assets | Intangible assets We acquire intangible assets separately or in connection with business combinations. Intangible assets are measured at cost initially . All of our intangible assets are with finite lives and are amortized over their estimated useful life using the straight-line method. The amortization expense on intangible assets 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 5 - 12 years Customer relationships 3 - 10 years Acquired developed technology 4 - 6 years Intangible assets with finite lives are assessed for impairment whenever there is an indication that the intangible asset may be impaired. When the recoverable amount of an intangible asset is less than its carrying amount, an impairment loss is recognized. |
Impairment of non-financial assets | Impairment of non-financial assets At the end of each reporting period, the Group assesses whether there is an indication that an asset may be impaired. If any indication exists, or when annual impairment testing for an asset is required, the Group estimates the asset’s recoverable amount. The recoverable amount is determined for an individual asset, unless the asset does not generate cash inflows that are largely independent of those from other assets or groups of assets. An asset’s recoverable amount is the higher of an asset’s or cash generating unit (“CGU”)’s fair value less costs of disposal and its value in use. When the carrying amount of an asset or CGU exceeds its recoverable amount, the asset is considered impaired and is written down to its 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 of disposal, recent market transactions are taken into account. If no such transactions can be identified, an appropriate valuation model is used. |
Share-based payments | Share-based payments Share-based payments cover equity-settled awards including stock options, restricted share units (“RSUs”) and restricted shares issued to our employees in exchange of their service. The cost of the equity-settled awards is determined by the fair value at the grant date. The fair value of RSUs or restricted shares is equal to the market value of our common stock on the grant date. The Group estimates the fair value of stock options using the Black-Scholes option pricing model. This option-pricing model requires the input of assumptions, including the awards’ expected life and the price volatility of the underlying stock. We recognize equity-settled awards cost, net of estimated forfeitures, over the awards’ requisite service period on a graded-vesting basis. No compensation cost is recognized for awards that do not ultimately vest because service conditions have not been met and we estimate forfeiture based on historical experience. The respective expenses are recognized as employee benefits and classified in our consolidated statements of operations according to the activities that the employees perform. The Group also issues replacement awards in connection with business combinations in exchange for awards held by employees of the acquiree. We recognize the portion of the acquiree award that is attributable to pre-combination service as purchase consideration. The portion of the replacement award attributable to post-combination service is recognized as employee benefits and classified in our consolidated statements of operations according to the activities that the employees perform. |
Provisions | Provisions Provisions are recognized when the Group has a present obligation (legal or constructive) as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. If the effect of the time value of money is material, provisions are discounted using a current pre-tax rate that reflects, when appropriate, the risks specific to the liability. When discounting is used, the increase in the provision due to the passage of time is recognized as a finance cost. |
Leases | Leases Group as lessee We determine if an arrangement is a lease at inception. Our lease agreements generally contain lease and non-lease components. Lease payments under our lease arrangements are primarily fixed. Non-lease components primarily include payments for maintenance and utilities and are expensed as incurred. Lease liabilities are recognized at the present value of the future lease payments at the lease commencement date. The interest rate used to determine the present value of the future lease payments is our incremental borrowing rate, because the interest rate implicit in our leases is not readily determinable. Our incremental borrowing rate is estimated to approximate the interest rate on a collateralized basis with similar terms and payments, and in economic environments where the leased asset is located. Our lease terms include periods under options to extend or terminate the lease when it is reasonably certain that we will exercise that option. We generally use the base, non-cancelable, lease term when determining lease liabilities. We reassess the lease term if and when a significant event or change in circumstances occurs within the control of the Group. Right-of-use assets are recognized at cost at the lease commencement date. The cost of right-of-use assets includes the amount of lease liabilities recognized, initial direct cost incurred, any prepaid lease payments less lease incentives and an estimate of restoration cost. Right-of-use assets are depreciated on a straight-line basis over the shorter of the lease term and the estimated useful lives of the assets. |
Research and development | Research and development Research and development expense includes the employee, software, and hardware costs incurred for the development of new products, enhancements and updates of existing products and quality assurance activities. These costs incurred for the development of computer software to be marketed externally are expensed until the point that technological feasibility has been established, which, for our products, is typically reached shortly before the release of such products, and, as a result, the Group has not capitalized any research and development costs. |
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 results of operations. 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 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. Assumptions about the generation of future taxable income depend on management’s estimates of future cash flows, future business expectations, capital expenditures, dividends, and other capital management transactions. Management judgment is also required in relation to the application of income tax legislation, which involves complexity and an element of 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. The Company assesses uncertainty over a tax treatment in accordance with the International Financial Reporting Interpretations Committee (“IFRIC”) 23. When the Company concludes it is not probable that the taxation authority will accept an uncertain tax treatment, the Company will reflect the effect of uncertainty by using either of the following methods, depending on which method the Company expects to better predict the resolution of the uncertainty: • The most likely amount: the single most likely amount in a range of possible outcomes. • The expected value: the sum of the probability-weighted amounts in a range of possible outcomes . |
New Standards, Interpretations and Amendments not yet adopted | New Standards, Interpretations and Amendments Not Yet Adopted in Fiscal Year 2022 The IASB has issued other amendments resulting from improvements to IFRS that management considers do not have any impact on the accounting policies, financial position or performance of the Group. The Group does not expect them to have a material impact on the accounting policies. |
Hyperinflation | Hyperinflation With effect from July 1, 2021, we have applied hyperinflationary accounting in accordance with IAS 29, Financial Reporting in Hyperinflationary Economies , for our subsidiary in Turkey as Turkey’s cumulative rate of inflation over the last three years is in excess of 100%. Non-monetary balance sheet items are restated using a general price index; monetary items are not restated. Items in the income statement and the statement of comprehensive income are restated by applying the change in the general price index from the dates when the income and expense items were initially recorded in the financial statements . The impact was not material on the consolidated financial statements for the fiscal year 2022. Comparative amounts presented previously in U.S. dollars are not restated. |
Reclassification | Reclassification Certain reclassifications have been made to prior period balances in order to conform to the current period presentation. “Perpetual License” revenues have been reclassified to “Other” revenues on our consolidated statements of operation. The reclassifications had no impact on our previously reported total revenues. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
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 years Computer hardware and computer-related software 3 years Furniture and fittings 5 years Leasehold improvements Shorter of the remaining lease term or 7 years Property and equipment, net consisted of the following: Equipment Computer Furniture Leasehold Construction in progress* Total (U.S. $ in thousands) As of June 30, 2021 Opening cost balance $ 9,652 $ 12,065 $ 19,687 $ 103,100 $ 11,261 $ 155,765 Additions 1,077 170 2,051 4,807 21,872 29,977 Transfer to assets held for sale — — — — (35,123) (35,123) Disposals (311) (2,694) (643) (1,266) — (4,914) Effect of change in exchange rates 12 (4) 93 355 1,990 2,446 Closing cost balance 10,430 9,537 21,188 106,996 — 148,151 Opening accumulated depreciation (5,618) (8,611) (8,388) (35,500) — (58,117) Depreciation expense (2,150) (1,897) (3,442) (16,053) — (23,542) Impairment — — — (3,676) — (3,676) Effect of change in exchange rates (7) 4 (31) (99) — (133) Disposals 230 1,442 602 1,264 — 3,538 Closing accumulated depreciation and impairment (7,545) (9,062) (11,259) (54,064) — (81,930) Net book balance $ 2,885 $ 475 $ 9,929 $ 52,932 $ — $ 66,221 As of June 30, 2022 Opening cost balance $ 10,430 $ 9,537 $ 21,188 $ 106,996 $ — $ 148,151 Additions 78 16,818 6,409 28,628 — 51,933 Disposals (1,160) (7,720) (2,230) (14,631) — (25,741) Effect of change in exchange rates (208) (311) (210) (1,326) — (2,055) Closing cost balance 9,140 18,324 25,157 119,667 $ — 172,288 Opening accumulated depreciation (7,545) (9,062) (11,259) (54,064) — (81,930) Depreciation expense (1,641) (1,648) (3,180) (12,296) — (18,765) Effect of change in exchange rates 130 88 119 1,083 — 1,420 Disposals 1,153 7,720 2,149 14,519 — 25,541 Closing accumulated depreciation and impairment (7,903) (2,902) (12,171) (50,758) — (73,734) Net book balance $ 1,237 $ 15,422 $ 12,986 $ 68,909 $ — $ 98,554 The following table sets forth the carrying amounts of property and equipment, net in assets held for sale and the movements during the fiscal year ended June 30, 2022: Fiscal Year Ended June 30, 2022 (U.S. $ in thousands) Balance at the beginning of period $ 34,092 Additions 26,899 Effect of change in exchange rates (3,509) Balance at the end of period $ 57,482 |
Schedule of detailed information about intangible assets | The estimated useful lives for each intangible asset class are as follows: Patents, trademarks and other rights 5 - 12 years Customer relationships 3 - 10 years Acquired developed technology 4 - 6 years Intangible assets consisted of the following: Patents, Acquired Developed Technology Customer Total (U.S. $ in thousands) As of June 30, 2021 Opening cost balance $ 27,795 $ 214,744 $ 128,502 $ 371,041 Additions 1,800 23,005 1,849 26,654 Disposals (220) (6,900) (310) (7,430) Closing cost balance 29,375 230,849 130,041 390,265 Opening accumulated amortization (23,205) (147,146) (71,000) (241,351) Amortization charge (1,124) (21,691) (8,939) (31,754) Disposals 220 6,900 310 7,430 Closing accumulated amortization (24,109) (161,937) (79,629) (265,675) Net book balance $ 5,266 $ 68,912 $ 50,412 $ 124,590 As of June 30, 2022 Opening cost balance $ 29,375 $ 230,849 $ 130,041 $ 390,265 Additions 4,018 3,769 861 8,648 Disposals — — (1,400) (1,400) Closing cost balance 33,393 234,618 129,502 397,513 Opening accumulated amortization (24,109) (161,937) (79,629) (265,675) Amortization charge (1,305) (22,441) (8,652) (32,398) Disposals — — 1,400 1,400 Closing accumulated amortization (25,414) (184,378) (86,881) (296,673) Net book balance $ 7,979 $ 50,240 $ 42,621 $ 100,840 |
Group Information (Tables)
Group Information (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
Disclosure of interests in other entities [Abstract] | |
Schedule of group information | As of June 30, 2022, 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 (UK) Operations Limited United Kingdom Atlassian (US) LLC United States of America Atlassian US, Inc. 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 AgileCraft LLC United States of America OpsGenie, Inc. United States of America Opsgenie Yazılım Anonim Şirketi Turkey iFountain, LLC United States of America Halp, Inc. United States of America Buddy AI 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 Good Software Co. Pty Ltd Australia Code Barrel Pty Ltd Australia Lead Green Pty Ltd Australia Lead Green Trust Australia Vertical First Pty Ltd Australia Vertical First Trust Australia Atlassian Capital Pty. Ltd. Australia MITT Australia Pty Ltd Australia MITT Trust Australia Atlassian Holdings B.V. Netherlands Atlassian K.K. Japan Atlassian Germany GmbH Germany Atlassian Philippines, Inc. Philippines Atlassian France SAS France Atlassian B.V. Netherlands Atlassian Canada Inc. Canada Atlassian India LLP India Mindville AB Sweden Atlassian New Zealand New Zealand Atlassian Poland sp z o.o. Poland Chart.io, Inc. United States of America ThinkTilt Pty Ltd Australia |
Financial Assets and Liabilit_2
Financial Assets and Liabilities (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
Disclosure of detailed information about financial instruments [abstract] | |
Schedule of sensitivity analysis for types of risk | The following table sets forth foreign currency sensitivity analysis of a hypothetical 10% change in exchange rate of the U.S. dollar against the Australian dollar to our cash flow hedging portfolio: Foreign Currency Sensitivity Effect on other comprehensive income, before tax 2022 2021 (U.S. $ in thousands) Foreign currency forward contracts - cash flow hedging: U.S. dollar +10%, decrease in fair value of foreign currency forward contracts $ (38,198) $ (39,416) U.S. dollar -10%, increase in fair value of foreign currency forward contracts 38,198 39,416 The following table sets forth equity price sensitivity analysis of a hypothetical 10% change in share prices: Equity Price Sensitivity Effect on other comprehensive income, before tax 2022 2021 (U.S. $ in thousands) Fair value change of marketable equity investments: Increase in respective share prices of 10% $ 3,080 $ 11,041 Decrease in respective share prices of 10% (3,080) (11,041) The following table sets forth an interest rate sensitivity analysis of a hypothetical 100 basis point change in interest rates. This estimate is based on a sensitivity model that measures market value changes when changes in interest rates occur: Interest Rate Sensitivity Effect on other comprehensive income, before tax 2022 2021 (U.S. $ in thousands) Change in market value of marketable debt investments: Interest Rate +100bps, decrease in market value of marketable debt investments $ (284) $ (1,888) Interest Rate -100bps, increase in market value of marketable debt investments 284 259 Change in market value of interest rate swap: Interest Rate +100bps, increase in market value of interest rate swaps $ 17,624 $ 24,845 Interest Rate -100bps, decrease in market value of interest rate swaps (18,789) (20,635) |
Schedule of contractual maturities of financial liabilities | Contractual maturities of financial liabilities are as follows: Less than 1 year 1 - 3 years 3 - 5 years More than 5 years Total (U.S. $ in thousands) As of June 30, 2022 Financial liabilities: Trade and other payables $ 404,908 $ — $ — $ — $ 404,908 Lease liabilities (1) 53,408 99,668 78,577 128,157 359,810 Derivative liabilities 23,288 812 — — 24,100 Term loan facility — 87,500 912,500 — 1,000,000 $ 481,604 $ 187,980 $ 991,077 $ 128,157 $ 1,788,818 As of June 30, 2021 Financial liabilities: Trade and other payables $ 266,497 $ — $ — $ — $ 266,497 Lease liabilities (1) 48,297 77,768 65,227 91,131 282,423 Derivative liabilities 11,438 669 — — 12,107 Exchangeable senior notes (2) 1,109,593 — — — 1,109,593 $ 1,435,825 $ 78,437 $ 65,227 $ 91,131 $ 1,670,620 (1) Lease liabilities represent undiscounted lease payments excluding certain low-value and short-term leases, refer to Note 12, “ Leases ” for details. (2) The amount related to Notes represent the if-exchanged value using stock price as of June 30, 2021. Refer to Note 16, “ Debt ” for details. |
Schedule of financial assets measured at fair value | The following table presents the Group’s financial assets and liabilities as of June 30, 2022, by level within the fair value hierarchy: Level 1 Level 2 Level 3 Total (U.S. $ in thousands) Description Assets measured at fair value Cash and cash equivalents: Money market funds $ 555,247 $ — $ — $ 555,247 Short-term investments: U.S. treasury securities — 70,294 — 70,294 Certificates of deposit and time deposits — 3,000 — 3,000 Current derivative assets: Derivative assets - foreign exchange hedging — 389 — 389 Derivative assets - interest rate swaps — 13,296 — 13,296 Non-current derivative assets: Derivative assets - interest rate swaps — 30,367 — 30,367 Other non-current assets: Marketable equity securities 30,801 — — 30,801 Non-marketable equity securities — — 126,995 126,995 Non-marketable debt securities — — 1,268 1,268 Total assets measured at fair value $ 586,048 $ 117,346 $ 128,263 $ 831,657 Liabilities measured at fair value Current derivative liabilities: Derivative liabilities - foreign exchange hedging $ — $ 23,288 $ — $ 23,288 Non-current derivative liabilities: Derivative liabilities - foreign exchange hedging — 812 — 812 Total liabilities measured at fair value $ — $ 24,100 $ — $ 24,100 The following table presents the Group’s financial assets and liabilities as of June 30, 2021, by the level within the fair value hierarchy: Level 1 Level 2 Level 3 Total (U.S. $ in thousands) Description Assets measured at fair value Cash and cash equivalents: Money market funds $ 20,966 $ — $ — $ 20,966 Agency securities — 4,600 — 4,600 Commercial paper — 149,347 — 149,347 Short-term investments: U.S. treasury securities — 209,948 — 209,948 Agency securities — 5,752 — 5,752 Certificates of deposit and time deposits — 6,653 — 6,653 Corporate debt securities — 87,948 — 87,948 Municipal securities — 2,700 — 2,700 Current derivative assets: Derivative assets - foreign exchange hedging — 3,333 — 3,333 Derivative assets - capped call transactions — — 124,153 124,153 Non-current derivative assets: Derivative assets - interest rate swaps — 3,147 — 3,147 Other non-current assets: Certificates of deposit and time deposits — 2,600 — 2,600 Marketable equity securities 110,409 — — 110,409 Non-marketable equity securities — — 11,750 11,750 Total assets measured at fair value $ 131,375 $ 476,028 $ 135,903 $ 743,306 Liabilities measured at fair value Current derivative liabilities: Derivative liabilities - foreign exchange hedging $ — $ 8,058 $ — $ 8,058 Derivative liabilities - interest rate swaps — 3,380 — 3,380 Derivative liabilities - exchangeable feature of exchangeable senior notes — — 760,689 760,689 Non-current derivative liabilities: Derivative liabilities - foreign exchange hedging — 669 — 669 Total liabilities measured at fair value $ — $ 12,107 $ 760,689 $ 772,796 The following table presents the reconciliations of Level 3 financial instrument fair values: Capped Call Embedded exchange feature of Notes Non-marketable investments (U.S. $ in thousands) Balance as of June 30, 2020 $ 310,608 $ (1,283,089) $ 3,750 Purchases (203,093) 1,155,484 10,250 Gains (losses) Recognized in other non-operating expense, net 16,638 (633,084) (2,000) Recognized in other comprehensive income — — (250) Balance as of June 30, 2021 $ 124,153 $ (760,689) $ 11,750 Change in unrealized gains (losses) relating to assets and liabilities held as of June 30, 2021 Recognized in other non-operating expense, net $ 14,764 $ (308,820) $ (2,000) Recognized in other comprehensive loss — — (250) Balance as of June 30, 2021 $ 124,153 $ (760,689) $ 11,750 Settlements or purchases (135,497) 1,196,515 111,668 Gains (losses) Recognized in other non-operating expense, net 11,344 (435,826) (2,100) Recognized in other comprehensive income — — 6,945 Balance as of June 30, 2022 $ — $ — $ 128,263 Change in unrealized gains (losses) relating to assets and liabilities held as of June 30, 2022 Recognized in other non-operating expense, net $ — $ — $ (2,100) Recognized in other comprehensive income — — 6,945 As of June 30, 2022, the Group’s investments consisted of the following: Amortized Cost Unrealized Gains Unrealized Losses Fair Value (U.S. $ in thousands) U.S. treasury securities $ 70,947 $ — $ (653) $ 70,294 Certificates of deposit and time deposits 3,000 — — 3,000 Total marketable debt investments $ 73,947 $ — $ (653) $ 73,294 Amortized Cost Unrealized Gains Unrealized Losses Fair Value (U.S. $ in thousands) U.S. treasury securities $ 209,567 $ 407 $ (26) $ 209,948 Agency securities 5,750 2 — 5,752 Certificates of deposit and time deposits 9,253 — — 9,253 Corporate debt securities 87,626 322 — 87,948 Municipal securities 2,700 — — 2,700 Total marketable debt investments $ 314,896 $ 731 $ (26) $ 315,601 As of June 30, 2022, the Group’s strategic investments consisted of the following: Amortized Cost Unrealized Gains Unrealized Losses Fair Value (U.S. $ in thousands) Marketable equity securities $ 10,270 $ 20,531 $ — $ 30,801 Non-marketable equity securities 120,300 6,695 — 126,995 Non-marketable debt securities 5,368 — (4,100) 1,268 Total strategic investments $ 135,938 $ 27,226 $ (4,100) $ 159,064 As of June 30, 2021, the Group’s strategic investments consisted of the following: Amortized Cost Unrealized Gains Unrealized Losses Fair Value (U.S. $ in thousands) Marketable equity securities $ 10,270 $ 100,139 $ — $ 110,409 Non-marketable equity securities 12,000 — (250) 11,750 Non-marketable debt securities 2,000 — (2,000) — Total strategic investments $ 24,270 $ 100,139 $ (2,250) $ 122,159 |
Schedule of financial liabilities measured at fair value | The following table presents the Group’s financial assets and liabilities as of June 30, 2022, by level within the fair value hierarchy: Level 1 Level 2 Level 3 Total (U.S. $ in thousands) Description Assets measured at fair value Cash and cash equivalents: Money market funds $ 555,247 $ — $ — $ 555,247 Short-term investments: U.S. treasury securities — 70,294 — 70,294 Certificates of deposit and time deposits — 3,000 — 3,000 Current derivative assets: Derivative assets - foreign exchange hedging — 389 — 389 Derivative assets - interest rate swaps — 13,296 — 13,296 Non-current derivative assets: Derivative assets - interest rate swaps — 30,367 — 30,367 Other non-current assets: Marketable equity securities 30,801 — — 30,801 Non-marketable equity securities — — 126,995 126,995 Non-marketable debt securities — — 1,268 1,268 Total assets measured at fair value $ 586,048 $ 117,346 $ 128,263 $ 831,657 Liabilities measured at fair value Current derivative liabilities: Derivative liabilities - foreign exchange hedging $ — $ 23,288 $ — $ 23,288 Non-current derivative liabilities: Derivative liabilities - foreign exchange hedging — 812 — 812 Total liabilities measured at fair value $ — $ 24,100 $ — $ 24,100 The following table presents the Group’s financial assets and liabilities as of June 30, 2021, by the level within the fair value hierarchy: Level 1 Level 2 Level 3 Total (U.S. $ in thousands) Description Assets measured at fair value Cash and cash equivalents: Money market funds $ 20,966 $ — $ — $ 20,966 Agency securities — 4,600 — 4,600 Commercial paper — 149,347 — 149,347 Short-term investments: U.S. treasury securities — 209,948 — 209,948 Agency securities — 5,752 — 5,752 Certificates of deposit and time deposits — 6,653 — 6,653 Corporate debt securities — 87,948 — 87,948 Municipal securities — 2,700 — 2,700 Current derivative assets: Derivative assets - foreign exchange hedging — 3,333 — 3,333 Derivative assets - capped call transactions — — 124,153 124,153 Non-current derivative assets: Derivative assets - interest rate swaps — 3,147 — 3,147 Other non-current assets: Certificates of deposit and time deposits — 2,600 — 2,600 Marketable equity securities 110,409 — — 110,409 Non-marketable equity securities — — 11,750 11,750 Total assets measured at fair value $ 131,375 $ 476,028 $ 135,903 $ 743,306 Liabilities measured at fair value Current derivative liabilities: Derivative liabilities - foreign exchange hedging $ — $ 8,058 $ — $ 8,058 Derivative liabilities - interest rate swaps — 3,380 — 3,380 Derivative liabilities - exchangeable feature of exchangeable senior notes — — 760,689 760,689 Non-current derivative liabilities: Derivative liabilities - foreign exchange hedging — 669 — 669 Total liabilities measured at fair value $ — $ 12,107 $ 760,689 $ 772,796 The following table presents the reconciliations of Level 3 financial instrument fair values: Capped Call Embedded exchange feature of Notes Non-marketable investments (U.S. $ in thousands) Balance as of June 30, 2020 $ 310,608 $ (1,283,089) $ 3,750 Purchases (203,093) 1,155,484 10,250 Gains (losses) Recognized in other non-operating expense, net 16,638 (633,084) (2,000) Recognized in other comprehensive income — — (250) Balance as of June 30, 2021 $ 124,153 $ (760,689) $ 11,750 Change in unrealized gains (losses) relating to assets and liabilities held as of June 30, 2021 Recognized in other non-operating expense, net $ 14,764 $ (308,820) $ (2,000) Recognized in other comprehensive loss — — (250) Balance as of June 30, 2021 $ 124,153 $ (760,689) $ 11,750 Settlements or purchases (135,497) 1,196,515 111,668 Gains (losses) Recognized in other non-operating expense, net 11,344 (435,826) (2,100) Recognized in other comprehensive income — — 6,945 Balance as of June 30, 2022 $ — $ — $ 128,263 Change in unrealized gains (losses) relating to assets and liabilities held as of June 30, 2022 Recognized in other non-operating expense, net $ — $ — $ (2,100) Recognized in other comprehensive income — — 6,945 |
Schedule of valuation techniques and inputs used in fair value measurement | The following table sets forth a description of the valuation techniques and the inputs used in fair value measurement: Type Level Valuation Technique Inputs Money market fund Level 1 Quoted price in active market N/A Marketable equity securities Level 1 Quoted price in active market N/A Marketable debt securities Level 2 Quoted market price to the extent possible or alternative pricing sources and models utilizing market observable inputs N/A Non-marketable equity securities Level 3 Last financing round valuation N/A Non-marketable debt securities Level 3 Discounted cash flow Timing, probability, and amount of forecasted cash flows associated with liquidation of the securities Foreign currency forward contracts Level 2 Discounted cash flow Foreign currency spot and forward rate Interest rate swaps Level 2 Discounted cash flow Forward and contract interest rates Exchange feature of the Notes Level 3 Black-Scholes option pricing models Stock price Level 2 September 30, 2021: Redemption Stock price Exchange ratio Capped Call Derivatives Level 3 Non-binding quoted price obtained from counterparty banks N/A *As of September 30, 2021, all outstanding Notes were called for redemption by the Company. As such, the Company used redemption settlement price as fair value. |
Schedule of Group's investments | The effects of the Group’s investments on the consolidated financial statements were as follows (amounts presented are prior to any income tax effects): Fiscal Year Ended June 30, 2022 2021 2020 (U.S. $ in thousands) Unrealized fair value movements on marketable debt investments recognized in other comprehensive income $ (831) $ (4,779) $ 5,750 Gains recognized into profit or loss on sale of debt investments 527 65 697 Unrealized fair value movements on non-marketable debt securities recognized in other non-operating expense, net (2,100) (2,000) — Fair value movements on marketable equity investments recognized in other comprehensive income (79,608) 48,330 41,255 Fair value movements on non-marketable equity investments recognized in other comprehensive income 6,945 (250) — The table below summarizes the Group’s debt investments by remaining contractual maturity based on the effective maturity date: As of June 30, 2022 2021 (U.S. $ in thousands) Recorded as follows: Due in one year or less $ 73,294 $ 265,679 Due after one year — 49,922 Total investments $ 73,294 $ 315,601 |
Schedule of fair value of derivative instruments | The fair values of the hedging derivative instruments were as follows: As of June 30, Statement of Financial Position Location 2022 2021 (U.S. $ in thousands) Derivative assets - hedging Derivatives designated as hedging instruments: Foreign exchange forward contracts Current derivative assets $ — $ 3,325 Interest rate swaps Current derivative assets 13,296 — Interest rate swaps Other non-current assets 30,367 3,147 Derivatives not designated as hedging instruments: Foreign exchange forward contracts Current derivative assets 389 8 Total derivative assets $ 44,052 $ 6,480 Derivative liabilities - hedging Derivatives designated as hedging instruments: Foreign exchange forward contracts Current derivative liabilities $ 18,208 $ 5,336 Foreign exchange forward contracts Other non-current liabilities 812 669 Interest rate swaps Current derivative liabilities — 3,380 Derivatives not designated as hedging instruments: Foreign exchange forward contracts Current derivative liabilities 5,080 2,722 Total derivative liabilities $ 24,100 $ 12,107 |
Schedule of notional amounts of derivative instruments | The following table sets forth the notional amounts of our hedging derivative instruments as of June 30, 2022: 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 (U.S. $ in thousands except average forward rate and average interest rate) Forward contracts: AUD/USD forward contracts: Notional amount $ 593,155 $ 37,015 $ 630,170 $ 401,534 $ 228,636 $ 630,170 Average forward rate 0.7180 0.7038 0.7171 0.7248 0.7037 0.7171 EUR/USD forward contracts: Notional amount 19,368 — 19,368 — 19,368 19,368 Average forward rate 1.0617 — 1.0617 — 1.0617 1.0617 Total $ 612,523 $ 37,015 $ 649,538 $ 401,534 $ 248,004 $ 649,538 Interest rate swaps: Notional amount $ — $ 650,000 $ 650,000 $ 650,000 $ — $ 650,000 Average interest rate 0.81 % 0.81 % 0.81 % 0.81 % The following table sets forth the notional amounts of our hedging derivative instruments as of June 30, 2021: 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 (U.S. $ in thousands except average forward rate and average interest rate) AUD/USD forward contracts: Notional amount $ 623,321 $ 24,627 $ 647,948 $ 397,184 $ 250,764 $ 647,948 Average forward rate 0.7563 0.7718 0.7569 0.7563 0.7579 0.7569 EUR/USD forward contracts: Notional amount 11,040 — 11,040 — 11,040 11,040 Average forward rate 1.2025 — 1.2025 — 1.2025 1.2025 Total $ 634,361 $ 24,627 $ 658,988 $ 397,184 $ 261,804 $ 658,988 Interest rate swaps: Notional amount $ — $ 650,000 $ 650,000 $ 650,000 $ — $ 650,000 Average interest rate 0.81 % 0.81 % 0.81 % 0.81 % |
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): Fiscal Year Ended June 30, 2022 2021 2020 (U.S. $ in thousands) Forward contracts: Gross unrealized gains (losses) recognized in other comprehensive income (loss) $ (29,192) $ 19,302 $ 3,048 Net gains (losses) reclassified from cash flow hedge reserve into profit or loss - effective portion $ (12,864) $ 35,077 $ (13,663) Recognized in cost of revenues (525) 1,326 (807) Recognized in research and development (10,513) 28,490 (9,647) Recognized in marketing and sales (220) 400 (273) Recognized in general and administrative (1,606) 4,861 (2,936) Change in fair value used for measuring ineffectiveness: Cash flow hedging instruments $ (29,295) $ 19,312 $ 2,889 Hedged item - highly probable forecast purchases (29,192) 19,302 3,048 Gains (losses) recognized into general and administrative - ineffective portion (103) 10 (159) Interest rate swaps: Gross unrealized gain recognized in other comprehensive income $ 40,613 $ (233) $ — Net loss reclassified from interest rate swap reserve into finance cost (3,153) — — |
Other Non-Operating Expense, _2
Other Non-Operating Expense, Net (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
Disclosure of Additional Information [Abstract] | |
Schedule of other non-operating income (expense), net | Other non-operating expense, net consisted of the following: Fiscal Year Ended June 30, 2022 2021 2020 (U.S. $ in thousands) Net loss on exchange derivative and capped calls $ (424,482) $ (616,446) $ (335,953) Foreign currency exchange gain (loss), net 2,695 4,054 910 Contributions to Atlassian Foundation (9,742) (7,809) (5,282) Other income (expense) (3,059) (558) 1,839 Other non-operating expense, net $ (434,588) $ (620,759) $ (338,486) |
Expenses (Tables)
Expenses (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
Analysis of income and expense [abstract] | |
Schedule of expenses | Loss before income tax expense included the following expenses: Fiscal Year Ended June 30, 2022 2021 2020 (U.S. $ in thousands) Depreciation: Equipment $ 1,641 $ 2,150 $ 2,077 Computer hardware and software 1,648 1,897 1,096 Furniture and fittings 3,180 3,442 3,000 Leasehold improvements 12,296 16,053 13,563 Total depreciation 18,765 23,542 19,736 Amortization: Patents and trademarks 1,305 1,124 5,377 Customer relationships 8,652 8,939 8,086 Acquired developed technology 22,441 21,691 29,072 Total amortization 32,398 31,754 42,535 Total depreciation and amortization $ 51,163 $ 55,296 $ 62,271 Employee benefits expense: Salaries and wages 880,421 $ 637,143 $ 467,718 Variable compensation 169,695 106,835 82,851 Payroll taxes 88,878 68,543 53,189 Share-based payment expense 707,087 385,732 313,395 Defined contribution plan expense 54,441 39,116 29,783 Contractor expense 29,241 26,589 35,343 Other 124,416 83,350 63,362 Total employee benefits expense $ 2,054,179 $ 1,347,308 $ 1,045,641 Impairment: Right of use assets — 3,759 — Property and equipment — 3,676 — Total impairment $ — $ 7,435 $ — |
Impairment charges | The impairment charge was classified within the statement of operations as follows: Fiscal Year Ended June 30, 2021 (U.S. $ in thousands) Cost of revenues $ 1,710 Research and development 3,217 Marketing and sales 195 General and administrative 2,313 |
Income Tax (Tables)
Income Tax (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
Income Taxes [Abstract] | |
Schedule of major components of income tax (expense) benefit | The major components of income tax expense for the fiscal years ended 2022, 2021 and 2020 are as follows: Fiscal Year Ended June 30, 2022 2021 2020 (U.S. $ in thousands) Current income tax: Current income tax charge $ (51,417) $ (74,126) $ (25,715) Adjustments in respect of current income tax of previous years (472) 702 1,276 Deferred tax: Benefit relating to origination and reversal of temporary differences 2,186 11,422 18,702 Adjustments in respect of temporary differences of previous years 151 351 1,292 Income tax expense $ (49,552) $ (61,651) $ (4,445) |
Schedule of reconciliation of income tax (expense) benefit | A reconciliation between income tax expense and the product of accounting loss multiplied by the UK's domestic tax rate for the fiscal years ended 2022, 2021 and 2020, is as follows: Fiscal Year Ended June 30, 2022 2021 2020 (U.S. $ in thousands) Loss before income tax expense $ (564,572) $ (634,664) $ (346,209) At the United Kingdom's statutory income tax rate of 19% in fiscal years 2022, 2021 and 2020 107,269 120,586 65,688 Tax effect of amounts that are not taxable (deductible) in calculating taxable income: Research and development incentive 15,597 7,693 6,816 Non-deductible charges relating to exchangeable senior notes (92,275) (149,265) (80,262) Share-based payment (9,162) (14,674) (10,619) Foreign tax credits not utilized (518) (166) (93) Foreign tax paid 9,105 15,797 4,765 Foreign tax rate differential 30,879 (9,008) 1,416 Adjustment to unrecognized deferred tax balance (102,986) (37,062) 8,835 Other items, net (7,140) 3,395 (3,559) (49,231) (62,704) (7,013) Adjustments in respect to current income tax of previous years (472) 702 1,276 Adjustments in respect to deferred income tax of previous years 151 351 1,292 Income tax expense $ (49,552) $ (61,651) $ (4,445) |
Schedule of reconciliation of deferred tax assets, net | Details of deferred taxes, recognized and unrecognized: As of June 30, 2022 2021 (U.S. $ in thousands) Depreciation for tax purposes $ 2,143 $ 275 Provisions, accruals and prepayments (3,245) (1,427) Deferred revenue 2,963 (948) Unrealized foreign currency exchange losses (gains) (3,450) 9 Unrealized investment gains (16,205) (23,150) Carried forward tax losses 8,101 7,610 Carried forward tax credits—credited to profit and loss 13,557 9,129 Intangible assets 10,409 15,555 Tax benefit from share plans—income 1,651 1,143 Tax benefit from share plans—equity 133 733 Other, net 246 620 Deferred tax assets, net $ 16,303 $ 9,549 Reflected in the consolidated statements of financial position as follows: Deferred tax assets $ 42,760 $ 36,174 Deferred tax liabilities (26,457) (26,625) Deferred tax assets, net $ 16,303 $ 9,549 Items for which no deferred tax asset has been recognized: Depreciation and amortization for tax purposes $ 15,720 $ 9,747 Provisions, accruals and prepayments 61,597 45,711 Deferred revenue 161,508 86,722 Unrealized foreign currency exchange gains 2,484 3,569 Unused tax losses 1,005,649 814,106 Intangible assets 1,527,714 1,682,610 Tax benefit from share plans- income 76,843 69,113 Tax benefit from share plans- equity 15,402 74,631 Carried forward tax credits- credited to profit and loss 142,178 100,251 Unrealized loss on investments 11,169 1,541 Other, net 38,561 28,063 $ 3,058,825 $ 2,916,064 Details of deferred tax benefits and expenses: Fiscal Year Ended June 30, 2022 2021 2020 (U.S. $ in thousands) Depreciation for tax purposes $ 1,691 $ (215) $ (2,564) Provisions, accruals and prepayments (1,697) (1,843) (7,164) Deferred revenue 1,291 (1,198) (23,932) Unrealized foreign currency exchange losses (gains) (802) 1,422 (101) Unrealized investment losses (gains) 8 5,269 (405) Carried forward tax losses (gains) 1,966 1,970 (409) Carried forward tax credits—credited to profit and loss 6,757 5,555 (3,005) Intangible assets (3,853) 44 13,095 Tax benefit from share plans—income 718 162 331 Tax benefit (expense) from share plans—equity (870) (704) 300 Deferred foreign taxes — — 10,605 Other, net (2,872) 1,311 (2,667) Deferred tax benefit (expense) $ 2,337 $ 11,773 $ (15,916) Reconciliation of net deferred tax assets: 2022 2021 (U.S. $ in thousands) Balance at the beginning of $ 9,549 $ 4,047 Deferred tax expense for the year 2,337 11,773 Credited (Debited) to equity 6,975 (6,147) Impact from business combinations (733) (97) Currency revaluation impact (341) (27) Balance at the end of $ 16,303 $ 9,549 |
Schedule of current and net deferred tax recognized directly in equity | 2022 2021 (U.S. $ in thousands) Amounts recognized directly in equity: Net deferred tax—credited (debited) directly to equity $ 6,975 $ (6,147) |
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, 2022 (U.S. $ in thousands) U.S. net operating loss (Pre - 2017 Tax Reform) June 30, 2030-December 30, 2038 $ 137,635 $ 230 U.S. net operating loss (Post - 2017 Tax Reform) None 4,290,309 7,172 State net operating loss- various states June 30, 2024-June 30, 2041 1,269,537 685 UK net operating loss None 14,602 — U.S. research and development credits June 30, 2025-June 30, 2041 98,885 813 State research and development credits- California None 54,033 374 State research and development credits- Texas June 30, 2036-June 30, 2041 6,157 6,157 Australia capital loss None 4,637 — India alternative minimum tax credits March 31, 2036 - March 31, 2037 6,211 6,211 Poland research and development credits June 30,2026 - June 30,2028 1,729 — |
Trade Receivables (Tables)
Trade Receivables (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
Trade and other receivables [abstract] | |
Schedule of trade receivables | The Group’s trade receivables consisted of the following: As of June 30, 2022 2021 (U.S. $ in thousands) Gross trade receivables $ 312,172 $ 173,849 Expected credit loss allowance (4,045) (376) Total trade receivables $ 308,127 $ 173,473 |
Schedule of movements in ECL allowance | The movements in the ECL allowance were as follows: (U.S. $ in thousands) As of June 30, 2020 $ 1,156 Change in estimate (780) As of June 30, 2021 $ 376 Change in estimate 3,669 As of June 30, 2022 $ 4,045 |
Schedule of aging analysis of trade receivables | The following table sets forth the information about the credit risk exposure on the Group's trade receivables using a provision matrix: Past due days Current < 90 days > 90 days Total (U.S. $ in thousands except ECL rate) As of June 30, 2022 ECL rate — % 3.3 % 23.1 % Trade receivables carrying amount $ 256,418 $ 44,636 $ 11,118 $ 312,172 ECL allowance — 1,479 2,566 4,045 As of June 30, 2021 ECL rate — % 0.3 % 20.9 % Trade receivables carrying amount $ 157,804 $ 14,468 $ 1,577 $ 173,849 ECL allowance 6 41 329 376 |
Property and Equipment (Tables)
Property and Equipment (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
Disclosure of detailed information about property, plant and equipment [abstract] | |
Schedule of Carrying Amounts of Property and Equipment, Net | The estimated useful lives for each asset class are as follows: Equipment 3 years Computer hardware and computer-related software 3 years Furniture and fittings 5 years Leasehold improvements Shorter of the remaining lease term or 7 years Property and equipment, net consisted of the following: Equipment Computer Furniture Leasehold Construction in progress* Total (U.S. $ in thousands) As of June 30, 2021 Opening cost balance $ 9,652 $ 12,065 $ 19,687 $ 103,100 $ 11,261 $ 155,765 Additions 1,077 170 2,051 4,807 21,872 29,977 Transfer to assets held for sale — — — — (35,123) (35,123) Disposals (311) (2,694) (643) (1,266) — (4,914) Effect of change in exchange rates 12 (4) 93 355 1,990 2,446 Closing cost balance 10,430 9,537 21,188 106,996 — 148,151 Opening accumulated depreciation (5,618) (8,611) (8,388) (35,500) — (58,117) Depreciation expense (2,150) (1,897) (3,442) (16,053) — (23,542) Impairment — — — (3,676) — (3,676) Effect of change in exchange rates (7) 4 (31) (99) — (133) Disposals 230 1,442 602 1,264 — 3,538 Closing accumulated depreciation and impairment (7,545) (9,062) (11,259) (54,064) — (81,930) Net book balance $ 2,885 $ 475 $ 9,929 $ 52,932 $ — $ 66,221 As of June 30, 2022 Opening cost balance $ 10,430 $ 9,537 $ 21,188 $ 106,996 $ — $ 148,151 Additions 78 16,818 6,409 28,628 — 51,933 Disposals (1,160) (7,720) (2,230) (14,631) — (25,741) Effect of change in exchange rates (208) (311) (210) (1,326) — (2,055) Closing cost balance 9,140 18,324 25,157 119,667 $ — 172,288 Opening accumulated depreciation (7,545) (9,062) (11,259) (54,064) — (81,930) Depreciation expense (1,641) (1,648) (3,180) (12,296) — (18,765) Effect of change in exchange rates 130 88 119 1,083 — 1,420 Disposals 1,153 7,720 2,149 14,519 — 25,541 Closing accumulated depreciation and impairment (7,903) (2,902) (12,171) (50,758) — (73,734) Net book balance $ 1,237 $ 15,422 $ 12,986 $ 68,909 $ — $ 98,554 The following table sets forth the carrying amounts of property and equipment, net in assets held for sale and the movements during the fiscal year ended June 30, 2022: Fiscal Year Ended June 30, 2022 (U.S. $ in thousands) Balance at the beginning of period $ 34,092 Additions 26,899 Effect of change in exchange rates (3,509) Balance at the end of period $ 57,482 |
Goodwill and Intangible Assets
Goodwill and Intangible Assets (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
Disclosure of detailed information about intangible assets [abstract] | |
Schedule of reconciliation of changes in goodwill | Goodwill consisted of the following: Goodwill Note (U.S. $ in thousands) Balance as of June 30, 2020 $ 645,140 Additions 13 80,649 Effect of change in exchange rates (31) Balance as of June 30, 2021 $ 725,758 Additions 13 9,361 Effect of change in exchange rates (2,453) Balance as of June 30, 2022 $ 732,666 |
Schedule of intangible assets | The estimated useful lives for each intangible asset class are as follows: Patents, trademarks and other rights 5 - 12 years Customer relationships 3 - 10 years Acquired developed technology 4 - 6 years Intangible assets consisted of the following: Patents, Acquired Developed Technology Customer Total (U.S. $ in thousands) As of June 30, 2021 Opening cost balance $ 27,795 $ 214,744 $ 128,502 $ 371,041 Additions 1,800 23,005 1,849 26,654 Disposals (220) (6,900) (310) (7,430) Closing cost balance 29,375 230,849 130,041 390,265 Opening accumulated amortization (23,205) (147,146) (71,000) (241,351) Amortization charge (1,124) (21,691) (8,939) (31,754) Disposals 220 6,900 310 7,430 Closing accumulated amortization (24,109) (161,937) (79,629) (265,675) Net book balance $ 5,266 $ 68,912 $ 50,412 $ 124,590 As of June 30, 2022 Opening cost balance $ 29,375 $ 230,849 $ 130,041 $ 390,265 Additions 4,018 3,769 861 8,648 Disposals — — (1,400) (1,400) Closing cost balance 33,393 234,618 129,502 397,513 Opening accumulated amortization (24,109) (161,937) (79,629) (265,675) Amortization charge (1,305) (22,441) (8,652) (32,398) Disposals — — 1,400 1,400 Closing accumulated amortization (25,414) (184,378) (86,881) (296,673) Net book balance $ 7,979 $ 50,240 $ 42,621 $ 100,840 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
Presentation of leases for lessee [abstract] | |
Schedule of lease liabilities | The following table sets forth the carrying amounts of our right-of-use assets and lease obligations and the movements during the fiscal years ended June 30, 2022 and 2021: Fiscal Year Ended June 30, 2022 2021 (U.S. $ in thousands) Right-of-use assets Balance at the beginning of period $ 205,300 $ 217,683 Additions 105,592 28,939 Disposals — (256) Depreciation expense (42,795) (37,552) Effect of change in exchange rates (769) 245 Impairment of right-of-use asset — (3,759) Balance at the end of period $ 267,328 $ 205,300 Lease obligations Balance at the beginning of period $ 256,549 $ 264,568 Additions 105,961 27,042 Disposals — (270) Interest expense 7,257 7,019 Payments (49,142) (44,874) Effect of change in exchange rates (5,553) 3,064 Balance at the end of period $ 315,072 $ 256,549 Lease obligations, current $ 40,638 $ 42,446 Lease obligations, non-current 274,434 214,103 Total lease obligations, as the end of period $ 315,072 $ 256,549 |
Schedule of right-of-use assets | The following table sets forth the carrying amounts of our right-of-use assets and lease obligations and the movements during the fiscal years ended June 30, 2022 and 2021: Fiscal Year Ended June 30, 2022 2021 (U.S. $ in thousands) Right-of-use assets Balance at the beginning of period $ 205,300 $ 217,683 Additions 105,592 28,939 Disposals — (256) Depreciation expense (42,795) (37,552) Effect of change in exchange rates (769) 245 Impairment of right-of-use asset — (3,759) Balance at the end of period $ 267,328 $ 205,300 Lease obligations Balance at the beginning of period $ 256,549 $ 264,568 Additions 105,961 27,042 Disposals — (270) Interest expense 7,257 7,019 Payments (49,142) (44,874) Effect of change in exchange rates (5,553) 3,064 Balance at the end of period $ 315,072 $ 256,549 Lease obligations, current $ 40,638 $ 42,446 Lease obligations, non-current 274,434 214,103 Total lease obligations, as the end of period $ 315,072 $ 256,549 The following table presents supplemental information about our leases: Fiscal Year Ended June 30, 2022 2021 Short-term leases and low value leases expense: Short-term leases expense $ 363 $ 336 Low value leases expense $ 2,198 $ 1,436 Cash outflows: Principal portion of the lease obligations $ 41,885 $ 37,855 Interest portion of the lease obligations 7,257 7,019 Short-term leases and low value leases 2,035 2,999 Total cash outflows $ 51,177 $ 47,873 |
Business Combinations (Tables)
Business Combinations (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
Disclosure of detailed information about business combination [abstract] | |
Schedule of detailed information about business combinations | 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 $ 1,235 Tax receivables, current 166 Prepaid expenses and other current assets 668 Property and equipment, net 52 Right-of-use assets, net 403 Intangible assets 9,600 Goodwill 30,039 Trade and other payables (492) Tax liabilities (23) Provisions, current (135) Deferred revenue (1,300) Lease obligations, current (268) Deferred tax liabilities (2,694) Lease obligations, non-current (136) Other non-current liabilities (669) Net assets acquired $ 36,446 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 $ 8,200 5 Customer relationships 1,400 5 Total intangible assets subject to amortization $ 9,600 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 $ 1,035 Accounts receivable 266 Prepaid and other assets 40 Deferred tax assets 3,133 Developed technology 12,400 Goodwill 33,437 Deferred revenue (682) Trade and other payables (674) Deferred tax liabilities (3,387) Net assets acquired $ 45,568 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 $ 1,970 Intangible assets 15,900 Goodwill 23,124 Trade and other payables (617) Deferred revenue (600) Deferred tax liabilities (639) Net assets acquired $ 39,138 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 $ 13,700 4 Customer relationships 1,800 3 Trade name 400 1 Total intangible assets subject to amortization $ 15,900 The following table summarizes the preliminary 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 $ 664 Trade receivables 36 Prepaid expenses and other current assets 22 Deferred tax assets 475 Intangible assets 5,350 Goodwill 12,322 Deferred revenue (50) Deferred tax liabilities (1,237) Net assets acquired $ 17,582 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 $ 4,400 6 Customer relationships 850 6 Trade name 100 1 Total intangible assets subject to amortization $ 5,350 |
Other Balance Sheet Accounts (T
Other Balance Sheet Accounts (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
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, 2022 2021 (U.S. $ in thousands) Cash and bank deposits $ 820,959 $ 739,042 Amounts due from third-party credit card processors 9,059 5,272 Money market funds 555,247 20,966 Commercial paper — 149,347 Agency securities — 4,600 Total cash and cash equivalents $ 1,385,265 $ 919,227 |
Schedule of prepaid expenses and other current assets | Prepaid expenses and other current assets consisted of the following: As of June 30, 2022 2021 (U.S. $ in thousands) Prepaid expenses $ 40,384 $ 33,923 Deferred commission 8,806 3,226 Accrued interest income on short-term investments 621 1,411 Other receivables 3,746 6,149 Other current assets 4,520 3,613 Total prepaid expenses and other current assets $ 58,077 $ 48,322 |
Schedule of current assets held for sale | The major assets classified as held for sale at June 30, 2022 and 2021 and were as follows: As of June 30, 2022 June 30, 2021 (U.S. $ in thousands) Cash and cash equivalents $ 2,701 $ 9,317 Property and equipment, net $ 57,482 $ 34,092 |
Schedule of detailed information about property, plant and equipment | The estimated useful lives for each asset class are as follows: Equipment 3 years Computer hardware and computer-related software 3 years Furniture and fittings 5 years Leasehold improvements Shorter of the remaining lease term or 7 years Property and equipment, net consisted of the following: Equipment Computer Furniture Leasehold Construction in progress* Total (U.S. $ in thousands) As of June 30, 2021 Opening cost balance $ 9,652 $ 12,065 $ 19,687 $ 103,100 $ 11,261 $ 155,765 Additions 1,077 170 2,051 4,807 21,872 29,977 Transfer to assets held for sale — — — — (35,123) (35,123) Disposals (311) (2,694) (643) (1,266) — (4,914) Effect of change in exchange rates 12 (4) 93 355 1,990 2,446 Closing cost balance 10,430 9,537 21,188 106,996 — 148,151 Opening accumulated depreciation (5,618) (8,611) (8,388) (35,500) — (58,117) Depreciation expense (2,150) (1,897) (3,442) (16,053) — (23,542) Impairment — — — (3,676) — (3,676) Effect of change in exchange rates (7) 4 (31) (99) — (133) Disposals 230 1,442 602 1,264 — 3,538 Closing accumulated depreciation and impairment (7,545) (9,062) (11,259) (54,064) — (81,930) Net book balance $ 2,885 $ 475 $ 9,929 $ 52,932 $ — $ 66,221 As of June 30, 2022 Opening cost balance $ 10,430 $ 9,537 $ 21,188 $ 106,996 $ — $ 148,151 Additions 78 16,818 6,409 28,628 — 51,933 Disposals (1,160) (7,720) (2,230) (14,631) — (25,741) Effect of change in exchange rates (208) (311) (210) (1,326) — (2,055) Closing cost balance 9,140 18,324 25,157 119,667 $ — 172,288 Opening accumulated depreciation (7,545) (9,062) (11,259) (54,064) — (81,930) Depreciation expense (1,641) (1,648) (3,180) (12,296) — (18,765) Effect of change in exchange rates 130 88 119 1,083 — 1,420 Disposals 1,153 7,720 2,149 14,519 — 25,541 Closing accumulated depreciation and impairment (7,903) (2,902) (12,171) (50,758) — (73,734) Net book balance $ 1,237 $ 15,422 $ 12,986 $ 68,909 $ — $ 98,554 The following table sets forth the carrying amounts of property and equipment, net in assets held for sale and the movements during the fiscal year ended June 30, 2022: Fiscal Year Ended June 30, 2022 (U.S. $ in thousands) Balance at the beginning of period $ 34,092 Additions 26,899 Effect of change in exchange rates (3,509) Balance at the end of period $ 57,482 |
Schedule of other non-current assets | Other non-current assets consisted of the following: As of June 30, 2022 2021 (U.S. $ in thousands) Security deposits $ 948 $ 4,267 Restricted cash 1,422 11,795 Derivative assets 30,367 3,147 Deferred commission 18,335 5,785 Other 9,668 12,642 Total other non-current assets $ 60,740 $ 37,636 |
Schedule of trade and other payables | Trade and other payables consisted of the following: As of June 30, 2022 2021 (U.S. $ in thousands) Trade payables $ 67,355 $ 40,366 Accrued expenses 161,599 101,940 Accrued bonus 126,687 91,894 Value-added tax payables 14,887 10,152 Current portion of contingent consideration 1,500 6,896 Customer deposits 9,718 8,832 Liabilities held for sale 17,564 949 Other payables 5,598 5,468 Total trade and other payables $ 404,908 $ 266,497 |
Schedule of current provisions | Current provisions consisted of the following: As of June 30, 2022 2021 (U.S. $ in thousands) Employee benefits $ 32,796 $ 24,690 Dilapidation provision — 458 Total current provisions $ 32,796 $ 25,148 |
Schedule of non-current provisions | Non-current provisions consisted of the following: As of June 30, 2022 2021 (U.S. $ in thousands) Employee benefits $ 8,630 $ 7,255 Dilapidation provision 5,174 5,180 Total non-current provisions $ 13,804 $ 12,435 |
Revenue (Tables)
Revenue (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
Disclosure of revenue from contracts with customers [Abstract] | |
Explanation of significant changes in contract assets and contract liabilities | The changes in the balances of deferred revenue are as follows: Fiscal Year Ended June 30, 2022 2021 Balance, beginning of period $ 897,595 $ 601,005 Additions 3,087,967 2,385,722 Subscription revenue (2,096,706) (1,324,064) Maintenance revenue (495,077) (522,971) Other revenue (211,099) (242,097) Balance, end of period $ 1,182,680 $ 897,595 |
Schedule of disaggregated revenue | 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, 2022 2021 2020 (U.S. $ in thousands) Americas: United States $ 1,230,801 $ 901,389 $ 700,893 Other Americas 178,067 127,092 101,606 Total Americas $ 1,408,868 $ 1,028,481 $ 802,499 EMEA: United Kingdom $ 187,863 $ 139,411 $ 110,887 Other EMEA 889,475 687,034 522,848 Total EMEA $ 1,077,338 $ 826,445 $ 633,735 Asia Pacific $ 316,676 $ 234,206 $ 177,939 Total revenues $ 2,802,882 $ 2,089,132 $ 1,614,173 The Group’s revenues by deployment options are as follows: Fiscal Year Ended June 30, 2022 2021 2020 (U.S. $ in thousands) Cloud $ 1,515,424 $ 967,832 $ 696,628 Data Center 560,319 336,273 213,678 Server 525,028 607,778 564,513 Marketplace and services 202,111 177,249 139,354 Total revenues $ 2,802,882 $ 2,089,132 $ 1,614,173 |
Explanation of changes in prepaid expenses and deferred commission | The changes in the balances of deferred commissions are as follows: Fiscal Year Ended June 30, 2022 2021 (U.S. $ in thousands) Balance, beginning of period $ 9,011 $ 4,495 Additions 24,302 7,450 Amortization expense (6,172) (2,934) Balance, end of period $ 27,141 $ 9,011 Deferred commission included in prepaid expenses and other current assets $ 8,806 $ 3,226 Deferred commission included in other non-current assets 18,335 5,785 Total deferred commission, as the end of period $ 27,141 $ 9,011 |
Debt (Tables)
Debt (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
Borrowings [abstract] | |
Schedule of exchangeable debt and credit facility | The principal amount, unamortized debt discount, unamortized issuance costs and net carrying amount of the liability component of the Notes as of June 30, 2022 and 2021 were as follows: As of June 30, 2022 2021 (U.S. $ in thousands) Principal amount $ — $ 352,171 Unamortized debt discount — (3,224) Unamortized issuance cost — (148) Net liability $ — $ 348,799 The effective interest rate, contractual interest expense and amortization of debt discount for the Notes for the fiscal year ended June 30, 2022 and 2021 were as follows: Fiscal Year Ended June 30, 2022 2021 (U.S. $ in thousands) Effective interest rate 4.83 % 4.83 % Contractual interest expense $ — $ 4,859 Amortization of debt discount $ 3,224 $ 102,673 Amortization of issuance cost $ 148 $ 4,703 During the fiscal year ended June 30, 2022, the Group drew $1.0 billion from the Term Loan Facility. The principal amount and unamortized issuance costs of the Term Loan as of June 30, 2022 were as follows: As of June 30, 2022 (U.S. $ in thousands) Principal amount $ 1,000,000 Unamortized issuance cost (581) Net liability $ 999,419 |
Schedule of reconciliation of assets and liabilities arising from financing activities | Reconciliation of assets and liabilities arising from financing activities: Capped call assets Exchangeable Notes, net Embedded exchange feature of Notes Term loan Facility (U.S. $ in thousands) Balance as of June 30, 2020 $ (310,608) $ 889,183 $ 1,283,089 $ — Cash flows 203,093 (647,760) (1,155,484) — Amortization of debt discount and issuance cost — 107,376 — — Fair value changes (16,638) — 633,084 — Accrual of interest — — — — Balance as of June 30, 2021 $ (124,153) $ 348,799 $ 760,689 $ — Cash flows 135,497 (352,171) (1,196,515) 1,000,000 Amortization of debt discount and issuance cost — 3,372 — 160 Fair value changes (11,344) — 435,826 — Other — — — (741) Balance as of June 30, 2022 $ — $ — $ — $ 999,419 |
Shareholders' Equity (Tables)
Shareholders' Equity (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
Disclosure of classes of share capital [abstract] | |
Schedule of classes of share capital | Share capital As of June 30, As of June 30, 2022 2021 2022 2021 (number of shares) (U.S. $ in thousands) Details Class A ordinary shares 144,819,265 137,037,518 $ 14,481 $ 13,703 Class B ordinary shares 110,035,649 114,609,645 11,004 11,461 254,854,914 251,647,163 $ 25,485 $ 25,164 Movements in Class A ordinary share capital Number of Shares Amount (U.S. $ in thousands) Details Balance as of June 30, 2020 127,685,599 $ 12,768 Conversion of Class B ordinary shares 5,152,036 515 Exercise of share options 390,802 39 Issuance for settlement of RSUs 3,468,136 347 Vesting of early exercised shares 340,945 34 Balance as of June 30, 2021 137,037,518 $ 13,703 Conversion of Class B ordinary shares 4,573,996 457 Exercise of share options 42,973 4 Issuance for settlement of RSUs 2,958,190 296 Vesting of early exercised shares 206,588 21 Balance as of June 30, 2022 144,819,265 $ 14,481 Class A shares as of June 30, 2022 and June 30, 2021 does not include 72,484 and 270,251 shares of restricted stock outstanding, respectively, that are subject to forfeiture or repurchase. Movements in Class B ordinary share capital Number of Shares Amount (U.S. $ in thousands) Details Balance as of June 30, 2020 119,761,681 $ 11,976 Conversion to Class A ordinary shares (5,152,036) (515) Balance as of June 30, 2021 114,609,645 $ 11,461 Conversion to Class A ordinary shares (4,573,996) (457) Balance as of June 30, 2022 110,035,649 $ 11,004 |
Schedule of capital reserves | As of June 30, 2022 2021 (U.S. $ in thousands) Capital redemption reserve $ 98 $ 98 Merger reserve 34,943 34,943 Share-based payments reserve 2,188,779 1,481,568 Other capital reserves $ 2,223,820 $ 1,516,609 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
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 loss per share is as follows: Fiscal Year Ended June 30, 2022 2021 2020 (U.S. $ and shares in thousands, except per share data) Numerator: Net loss attributable to ordinary shareholders $ (614,124) $ (696,315) $ (350,654) Denominator: Weighted-average ordinary shares outstanding—basic and diluted 253,312 249,679 244,844 Net loss per share attributable to ordinary shareholders: Basic and diluted net loss per share $ (2.42) $ (2.79) $ (1.43) |
Commitments (Tables)
Commitments (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
Disclosure of commitments [Abstract] | |
Schedule of commitments for purchase obligations | The following table sets forth contractual commitments as of June 30, 2022 and 2021: Fiscal Year Ended June 30, 2022 2021 (U.S. $ in thousands) Capital purchase obligations $ 9,028 $ 11,076 Other purchase obligations 143,907 114,060 Obligations for leases that have not yet commenced 956,118 88,855 Total purchase obligation $ 1,109,053 $ 213,991 |
Schedule of maturities of purchase obligations | Maturities of purchase obligations as of June 30, 2022 were as follows: Capital purchase obligations Other purchase obligations Obligations for leases that have not yet commenced Total (U.S. $ in thousands) Fiscal Period: Year ending 2023 $ 9,028 $ 98,847 $ — $ 107,875 Year ending 2024 - 2025 — 35,816 — 35,816 Year ending 2026 - 2027 — 9,244 35,812 45,056 Thereafter — — 920,306 920,306 Total commitments $ 9,028 $ 143,907 $ 956,118 1,109,053 |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
Related party transactions [abstract] | |
Schedule of compensation for the Company's key management personnel | Compensation for the Group’s key management personnel is as follows: Fiscal Year Ended June 30, 2022 2021 2020 (U.S. $ in thousands) Executive management: Short-term compensation and benefits $ 4,986 $ 3,303 $ 3,334 Post-employment benefits 81 71 68 Share-based payments 58,531 12,053 15,509 $ 63,598 $ 15,427 $ 18,911 Board of directors: Cash remuneration $ 585 $ 480 $ 455 Share-based payments 2,040 1,780 1,741 $ 2,625 $ 2,260 $ 2,196 |
Geographic Information (Tables)
Geographic Information (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
Disclosure of geographical areas [abstract] | |
Schedule of Group's non-current operating assets by geographic regions | The Group’s non-current operating assets by geographic regions are as follows: Fiscal Year Ended June 30, 2022 2021 (U.S. $ in thousands) Non-current operating assets: United States $ 1,066,260 $ 1,002,992 Australia 127,418 107,015 India 7,367 125 Total non-current operating assets $ 1,201,045 $ 1,110,132 |
Share-based Payments (Tables)
Share-based Payments (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
Disclosure of share-based payment arrangements [Abstract] | |
Schedule of number and weighted average exercise prices of share options outstanding | RSU and Class A ordinary share option activity was as follows: Share Options Shares Outstanding Weighted RSUs Balance as of June 30, 2020 35,911,586 458,174 2.65 7,371,743 RSUs granted (2,415,324) — — 2,415,324 RSUs canceled 777,183 — — (777,183) RSUs settled — — — (3,468,136) Share options exercised — (390,802) 2.98 — Share options canceled — — — Balance as of June 30, 2021 34,273,445 67,372 $ 0.75 5,541,748 RSUs granted (4,093,600) — — 4,093,600 RSUs canceled 653,161 — — (653,161) RSUs settled — — — (2,958,190) Share options exercised — (42,973) 0.76 — Balance as of June 30, 2022 30,833,006 24,399 $ 0.73 6,023,997 Share options vested and exercisable as of June 30, 2022 24,399 $ 0.73 Share options vested and exercisable as of June 30, 2021 67,372 $ 0.75 |
Schedule of number and weighted average exercise prices of other equity instruments | RSU and Class A ordinary share option activity was as follows: Share Options Shares Outstanding Weighted RSUs Balance as of June 30, 2020 35,911,586 458,174 2.65 7,371,743 RSUs granted (2,415,324) — — 2,415,324 RSUs canceled 777,183 — — (777,183) RSUs settled — — — (3,468,136) Share options exercised — (390,802) 2.98 — Share options canceled — — — Balance as of June 30, 2021 34,273,445 67,372 $ 0.75 5,541,748 RSUs granted (4,093,600) — — 4,093,600 RSUs canceled 653,161 — — (653,161) RSUs settled — — — (2,958,190) Share options exercised — (42,973) 0.76 — Balance as of June 30, 2022 30,833,006 24,399 $ 0.73 6,023,997 Share options vested and exercisable as of June 30, 2022 24,399 $ 0.73 Share options vested and exercisable as of June 30, 2021 67,372 $ 0.75 |
Schedule of number and weighted average exercise prices of RSUs outstanding | The following table summarizes information about share options outstanding as of June 30, 2022: Options Outstanding and Exercisable Range of Number Weighted Weighted $0.59 - 0.66 21,997 $ 0.62 2.66 $1.14 1,673 1.14 4.07 $3.18 729 3.18 1.33 24,399 $ 0.73 2.72 The following table summarizes information about share options outstanding as of June 30, 2021: Options Outstanding and Exercisable Range of Number Weighted Weighted $0.59 - 0.66 53,037 $ 0.61 3.64 $1.14 13,606 1.14 5.07 $3.18 729 3.18 2.33 67,372 $ 0.75 3.92 |
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, 2022: Options Outstanding and Exercisable Range of Number Weighted Weighted $0.59 - 0.66 21,997 $ 0.62 2.66 $1.14 1,673 1.14 4.07 $3.18 729 3.18 1.33 24,399 $ 0.73 2.72 The following table summarizes information about share options outstanding as of June 30, 2021: Options Outstanding and Exercisable Range of Number Weighted Weighted $0.59 - 0.66 53,037 $ 0.61 3.64 $1.14 13,606 1.14 5.07 $3.18 729 3.18 2.33 67,372 $ 0.75 3.92 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies - Narrative (Details) | 12 Months Ended |
Jun. 30, 2022 segment revenueCategory | |
Disclosure of classes of share capital [line items] | |
Number of reporting segments | 1 |
Number of operating segments | 1 |
Number of categories of revenue | revenueCategory | 3 |
Bottom of range | |
Disclosure of classes of share capital [line items] | |
Contractual term of subscription revenues | 1 month |
Top of range | |
Disclosure of classes of share capital [line items] | |
Contractual term of subscription revenues | 12 months |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies - Property and equipment (Details) | 12 Months Ended |
Jun. 30, 2022 | |
Equipment | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives of property and equipment | 3 years |
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 |
Furniture and fittings | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives of property and equipment | 5 years |
Leasehold improvements | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives of property and equipment | 7 years |
Summary of Significant Accoun_6
Summary of Significant Accounting Policies - Intangible assets (Details) | 12 Months Ended |
Jun. 30, 2022 | |
Bottom of range | Patents, trademarks and other rights | |
Disclosure of detailed information about intangible assets [line items] | |
Useful lives of intangible assets (in years) | 5 years |
Bottom of range | Customer relationships | |
Disclosure of detailed information about intangible assets [line items] | |
Useful lives of intangible assets (in years) | 3 years |
Bottom of range | Acquired developed technology | |
Disclosure of detailed information about intangible assets [line items] | |
Useful lives of intangible assets (in years) | 4 years |
Top of range | Patents, trademarks and other rights | |
Disclosure of detailed information about intangible assets [line items] | |
Useful lives of intangible assets (in years) | 12 years |
Top of range | Customer relationships | |
Disclosure of detailed information about intangible assets [line items] | |
Useful lives of intangible assets (in years) | 10 years |
Top of range | Acquired developed technology | |
Disclosure of detailed information about intangible assets [line items] | |
Useful lives of intangible assets (in years) | 6 years |
Critical Accounting Estimates_2
Critical Accounting Estimates and Judgments - Narrative (Details) - USD ($) | 12 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 | |
Disclosure of changes in accounting estimates [line items] | |||
Impairment of goodwill | $ 0 | $ 0 | $ 0 |
Right-of-use asset and leasehold improvement, residual value | 0 | ||
Total impairment | 0 | 7,435,000 | $ 0 |
Equity investments | |||
Disclosure of changes in accounting estimates [line items] | |||
Total impairment | (300,000) | ||
Debt Investments | |||
Disclosure of changes in accounting estimates [line items] | |||
Total impairment | $ (2,100,000) | $ (2,000,000) |
Financial Assets and Liabilit_3
Financial Assets and Liabilities - Narrative (Details) | 1 Months Ended | 12 Months Ended | ||||||
Dec. 31, 2020 USD ($) | Jun. 30, 2022 USD ($) investment | Jun. 30, 2021 USD ($) investment | Jun. 30, 2020 USD ($) | Oct. 31, 2020 USD ($) | Jun. 30, 2019 USD ($) | Jun. 30, 2018 USD ($) | Apr. 30, 2018 USD ($) | |
Disclosure of financial assets [line items] | ||||||||
Period during which cash flow hedges hedge cost of revenues and operating expenses (up to) | 24 months | |||||||
Cash and cash equivalents | $ 1,385,265,000 | $ 919,227,000 | $ 1,479,969,000 | $ 1,268,441,000 | ||||
Short-term investments | 73,294,000 | 313,001,000 | ||||||
Debt instruments issued | $ 1,000,000,000 | |||||||
Repayment of exchangeable senior notes | (1,548,686,000) | (1,803,244,000) | (2,000) | |||||
Proceeds from settlement of capped call transactions | 135,497,000 | 203,093,000 | $ 0 | |||||
Certificates of deposit and time deposits | 948,000 | 4,267,000 | ||||||
Interest rate swaps | ||||||||
Disclosure of financial assets [line items] | ||||||||
Notional amount | 650,000,000 | 650,000,000 | ||||||
Interest rate swaps | Later than one year [member] | ||||||||
Disclosure of financial assets [line items] | ||||||||
Notional amount | $ 650,000,000 | 650,000,000 | ||||||
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 | |||||||
Exchangeable Notes, net | ||||||||
Disclosure of financial assets [line items] | ||||||||
Debt instruments issued | $ 0 | 348,799,000 | ||||||
Repayment of exchangeable senior notes | (1,500,000,000) | |||||||
Proceeds from settlement of capped call transactions | 135,500,000 | |||||||
Exchangeable Notes, net | Principal amount | ||||||||
Disclosure of financial assets [line items] | ||||||||
Debt instruments issued | 0 | 352,171,000 | $ 1,000,000,000 | |||||
Credit Facility Due October 2025 | ||||||||
Disclosure of financial assets [line items] | ||||||||
Borrowing facilities, maximum borrowing capacity | 1,500,000,000 | |||||||
Term Loan Facility Due October 2025 | ||||||||
Disclosure of financial assets [line items] | ||||||||
Borrowings | 999,419,000 | $ 1,000,000,000 | ||||||
Term Loan Facility Due October 2025 | Principal amount | ||||||||
Disclosure of financial assets [line items] | ||||||||
Borrowings | 1,000,000,000 | |||||||
Revolving Credit Facility Due October 2025 | ||||||||
Disclosure of financial assets [line items] | ||||||||
Borrowing facilities, maximum borrowing capacity | $ 500,000,000 | $ 500,000,000 | ||||||
Other non-current assets | ||||||||
Disclosure of financial assets [line items] | ||||||||
Certificates of deposit and time deposits | $ 2,600,000 | |||||||
Privately-Held Technology Companies | ||||||||
Disclosure of financial assets [line items] | ||||||||
Number of equity investments | investment | 15 | 5 | ||||||
Equity investments | ||||||||
Disclosure of financial assets [line items] | ||||||||
Fair Value | $ 159,064,000 | $ 122,159,000 | ||||||
Equity investments | Marketable equity securities | ||||||||
Disclosure of financial assets [line items] | ||||||||
Fair Value | 30,801,000 | 110,409,000 | ||||||
Sales of fair value measurement | $ 38,100,000 | |||||||
Recognized in other comprehensive income | $ 28,100,000 | |||||||
Equity investments | Non-marketable equity securities | ||||||||
Disclosure of financial assets [line items] | ||||||||
Fair Value | 126,995,000 | 11,750,000 | ||||||
Equity investments | Privately-Held Technology Companies | Level 3 | ||||||||
Disclosure of financial assets [line items] | ||||||||
Purchases | $ 108,300,000 | $ 8,200,000 |
Financial Assets and Liabilit_4
Financial Assets and Liabilities - Schedule of sensitivity analysis for types of risk (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Capped Call | Currency risk | ||
Disclosure of financial assets [line items] | ||
Hypothetical decrease in risk variable (as a percent) | 10% | 10% |
Hypothetical increase in risk variable (as a percent) | 10% | 10% |
Equity investments | Equity price risk | ||
Disclosure of financial assets [line items] | ||
Hypothetical decrease in risk variable (as a percent) | 10% | 10% |
Hypothetical increase in risk variable (as a percent) | 10% | 10% |
Equity investments | Equity price risk | Effect on other comprehensive income, before tax | ||
Disclosure of financial assets [line items] | ||
Hypothetical decrease in fair value | $ (3,080) | $ (11,041) |
Hypothetical increase in fair value | 3,080 | 11,041 |
Debt investments | Currency risk | Effect on other comprehensive income, before tax | ||
Disclosure of financial assets [line items] | ||
Hypothetical decrease in fair value | (38,198) | (39,416) |
Hypothetical increase in fair value | $ 38,198 | $ 39,416 |
Debt investments | Interest rate risk | ||
Disclosure of financial assets [line items] | ||
Hypothetical decrease in risk variable (as a percent) | 1% | 1% |
Hypothetical increase in risk variable (as a percent) | 1% | 1% |
Debt investments | Interest rate risk | Effect on other comprehensive income, before tax | ||
Disclosure of financial assets [line items] | ||
Hypothetical decrease in fair value | $ (284) | $ (1,888) |
Hypothetical increase in fair value | 284 | 259 |
Interest Rate Swap | Interest rate risk | Effect on other comprehensive income, before tax | ||
Disclosure of financial assets [line items] | ||
Hypothetical decrease in fair value | 17,624 | 24,845 |
Hypothetical increase in fair value | $ (18,789) | $ (20,635) |
Financial Assets and Liabilit_5
Financial Assets and Liabilities - Contractual maturities of financial liabilities (Details) - Liquidity risk - USD ($) $ in Thousands | Jun. 30, 2022 | Jun. 30, 2021 |
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Trade and other payables | $ 404,908 | $ 266,497 |
Lease liabilities | 359,810 | 282,423 |
Derivative liabilities | 24,100 | 12,107 |
Term loan facility | 1,000,000 | |
Exchangeable senior notes | 1,109,593 | |
Financial liabilities | 1,788,818 | 1,670,620 |
Less than 1 year | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Trade and other payables | 404,908 | 266,497 |
Lease liabilities | 53,408 | 48,297 |
Derivative liabilities | 23,288 | 11,438 |
Term loan facility | 0 | |
Exchangeable senior notes | 1,109,593 | |
Financial liabilities | 481,604 | 1,435,825 |
Year ending 2024 - 2025 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Trade and other payables | 0 | 0 |
Lease liabilities | 99,668 | 77,768 |
Derivative liabilities | 812 | 669 |
Term loan facility | 87,500 | |
Exchangeable senior notes | 0 | |
Financial liabilities | 187,980 | 78,437 |
Year ending 2026 - 2027 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Trade and other payables | 0 | 0 |
Lease liabilities | 78,577 | 65,227 |
Derivative liabilities | 0 | 0 |
Term loan facility | 912,500 | |
Exchangeable senior notes | 0 | |
Financial liabilities | 991,077 | 65,227 |
More than 5 years | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Trade and other payables | 0 | 0 |
Lease liabilities | 128,157 | 91,131 |
Derivative liabilities | 0 | 0 |
Term loan facility | 0 | |
Exchangeable senior notes | 0 | |
Financial liabilities | $ 128,157 | $ 91,131 |
Financial Assets and Liabilit_6
Financial Assets and Liabilities - Financial assets measured at fair value (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Jun. 30, 2021 |
Marketable debt securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | $ 73,947 | $ 314,896 |
Marketable debt securities | U.S. treasury securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 70,947 | 209,567 |
Marketable debt securities | Agency securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 5,750 | |
Marketable debt securities | Certificates of deposit and time deposits | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 3,000 | 9,253 |
Marketable debt securities | Corporate debt securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 87,626 | |
Marketable debt securities | Municipal securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 2,700 | |
At fair value | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 831,657 | 743,306 |
Total liabilities measured at fair value | 24,100 | 772,796 |
At fair value | Hedging | Derivatives | Current derivative | ||
Disclosure of fair value measurement of assets [line items] | ||
Total liabilities measured at fair value | 23,288 | 8,058 |
At fair value | Hedging | Derivatives | Non-current derivative | ||
Disclosure of fair value measurement of assets [line items] | ||
Total liabilities measured at fair value | 812 | 669 |
At fair value | Exchangeable feature of Notes | Derivatives | Current derivative | ||
Disclosure of fair value measurement of assets [line items] | ||
Total liabilities measured at fair value | 760,689 | |
At fair value | Interest rate swaps | Derivatives | Current derivative | ||
Disclosure of fair value measurement of assets [line items] | ||
Total liabilities measured at fair value | 3,380 | |
At fair value | Cash and cash equivalents | Money market funds | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 555,247 | 20,966 |
At fair value | Cash and cash equivalents | Agency securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 4,600 | |
At fair value | Cash and cash equivalents | Commercial paper | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 149,347 | |
At fair value | Marketable debt securities | U.S. treasury securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 70,294 | 209,948 |
At fair value | Marketable debt securities | Agency securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 5,752 | |
At fair value | Marketable debt securities | Certificates of deposit and time deposits | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 3,000 | 6,653 |
At fair value | Marketable debt securities | Corporate debt securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 87,948 | |
At fair value | Marketable debt securities | Municipal securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 2,700 | |
At fair value | Derivatives | Current derivative | Hedging | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 389 | 3,333 |
At fair value | Derivatives | Current derivative | Capped Call | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 124,153 | |
At fair value | Derivatives | Current derivative | Interest rate swaps | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 13,296 | |
At fair value | Derivatives | Non-current derivative | Interest rate swaps | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 30,367 | 3,147 |
At fair value | Other non-current assets | Certificates of deposit and time deposits | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 2,600 | |
At fair value | Other non-current assets | Marketable equity securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 30,801 | 110,409 |
At fair value | Other non-current assets | Non-marketable equity securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 126,995 | 11,750 |
At fair value | Other non-current assets | Non-marketable debt securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 1,268 | |
At fair value | Level 1 | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 586,048 | 131,375 |
Total liabilities measured at fair value | 0 | 0 |
At fair value | Level 1 | Hedging | Derivatives | Current derivative | ||
Disclosure of fair value measurement of assets [line items] | ||
Total liabilities measured at fair value | 0 | 0 |
At fair value | Level 1 | Hedging | Derivatives | Non-current derivative | ||
Disclosure of fair value measurement of assets [line items] | ||
Total liabilities measured at fair value | 0 | 0 |
At fair value | Level 1 | Exchangeable feature of Notes | Derivatives | Current derivative | ||
Disclosure of fair value measurement of assets [line items] | ||
Total liabilities measured at fair value | 0 | |
At fair value | Level 1 | Interest rate swaps | Derivatives | Current derivative | ||
Disclosure of fair value measurement of assets [line items] | ||
Total liabilities measured at fair value | 0 | |
At fair value | Level 1 | Cash and cash equivalents | Money market funds | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 555,247 | 20,966 |
At fair value | Level 1 | Cash and cash equivalents | Agency securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 0 | |
At fair value | Level 1 | Cash and cash equivalents | Commercial paper | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 0 | |
At fair value | Level 1 | Marketable debt securities | U.S. treasury securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 0 | 0 |
At fair value | Level 1 | Marketable debt securities | Agency securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 0 | |
At fair value | Level 1 | Marketable debt securities | Certificates of deposit and time deposits | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 0 | 0 |
At fair value | Level 1 | Marketable debt securities | Corporate debt securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 0 | |
At fair value | Level 1 | Marketable debt securities | Municipal securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 0 | |
At fair value | Level 1 | Derivatives | Current derivative | Hedging | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 0 | 0 |
At fair value | Level 1 | Derivatives | Current derivative | Capped Call | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 0 | |
At fair value | Level 1 | Derivatives | Current derivative | Interest rate swaps | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 0 | |
At fair value | Level 1 | Derivatives | Non-current derivative | Interest rate swaps | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 0 | 0 |
At fair value | Level 1 | Other non-current assets | Certificates of deposit and time deposits | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 0 | |
At fair value | Level 1 | Other non-current assets | Marketable equity securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 30,801 | 110,409 |
At fair value | Level 1 | Other non-current assets | Non-marketable equity securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 0 | 0 |
At fair value | Level 1 | Other non-current assets | Non-marketable debt securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 0 | |
At fair value | Level 2 | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 117,346 | 476,028 |
Total liabilities measured at fair value | 24,100 | 12,107 |
At fair value | Level 2 | Hedging | Derivatives | Current derivative | ||
Disclosure of fair value measurement of assets [line items] | ||
Total liabilities measured at fair value | 23,288 | 8,058 |
At fair value | Level 2 | Hedging | Derivatives | Non-current derivative | ||
Disclosure of fair value measurement of assets [line items] | ||
Total liabilities measured at fair value | 812 | 669 |
At fair value | Level 2 | Exchangeable feature of Notes | Derivatives | Current derivative | ||
Disclosure of fair value measurement of assets [line items] | ||
Total liabilities measured at fair value | 0 | |
At fair value | Level 2 | Interest rate swaps | Derivatives | Current derivative | ||
Disclosure of fair value measurement of assets [line items] | ||
Total liabilities measured at fair value | 3,380 | |
At fair value | Level 2 | Cash and cash equivalents | Money market funds | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 0 | 0 |
At fair value | Level 2 | Cash and cash equivalents | Agency securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 4,600 | |
At fair value | Level 2 | Cash and cash equivalents | Commercial paper | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 149,347 | |
At fair value | Level 2 | Marketable debt securities | U.S. treasury securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 70,294 | 209,948 |
At fair value | Level 2 | Marketable debt securities | Agency securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 5,752 | |
At fair value | Level 2 | Marketable debt securities | Certificates of deposit and time deposits | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 3,000 | 6,653 |
At fair value | Level 2 | Marketable debt securities | Corporate debt securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 87,948 | |
At fair value | Level 2 | Marketable debt securities | Municipal securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 2,700 | |
At fair value | Level 2 | Derivatives | Current derivative | Hedging | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 389 | 3,333 |
At fair value | Level 2 | Derivatives | Current derivative | Capped Call | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 0 | |
At fair value | Level 2 | Derivatives | Current derivative | Interest rate swaps | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 13,296 | |
At fair value | Level 2 | Derivatives | Non-current derivative | Interest rate swaps | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 30,367 | 3,147 |
At fair value | Level 2 | Other non-current assets | Certificates of deposit and time deposits | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 2,600 | |
At fair value | Level 2 | Other non-current assets | Marketable equity securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 0 | 0 |
At fair value | Level 2 | Other non-current assets | Non-marketable equity securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 0 | 0 |
At fair value | Level 2 | Other non-current assets | Non-marketable debt securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 0 | |
At fair value | Level 3 | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 128,263 | 135,903 |
Total liabilities measured at fair value | 0 | 760,689 |
At fair value | Level 3 | Hedging | Derivatives | Current derivative | ||
Disclosure of fair value measurement of assets [line items] | ||
Total liabilities measured at fair value | 0 | 0 |
At fair value | Level 3 | Hedging | Derivatives | Non-current derivative | ||
Disclosure of fair value measurement of assets [line items] | ||
Total liabilities measured at fair value | 0 | 0 |
At fair value | Level 3 | Exchangeable feature of Notes | Derivatives | Current derivative | ||
Disclosure of fair value measurement of assets [line items] | ||
Total liabilities measured at fair value | 760,689 | |
At fair value | Level 3 | Interest rate swaps | Derivatives | Current derivative | ||
Disclosure of fair value measurement of assets [line items] | ||
Total liabilities measured at fair value | 0 | |
At fair value | Level 3 | Cash and cash equivalents | Money market funds | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 0 | 0 |
At fair value | Level 3 | Cash and cash equivalents | Agency securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 0 | |
At fair value | Level 3 | Cash and cash equivalents | Commercial paper | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 0 | |
At fair value | Level 3 | Marketable debt securities | U.S. treasury securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 0 | 0 |
At fair value | Level 3 | Marketable debt securities | Agency securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 0 | |
At fair value | Level 3 | Marketable debt securities | Certificates of deposit and time deposits | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 0 | 0 |
At fair value | Level 3 | Marketable debt securities | Corporate debt securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 0 | |
At fair value | Level 3 | Marketable debt securities | Municipal securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 0 | |
At fair value | Level 3 | Derivatives | Current derivative | Hedging | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 0 | 0 |
At fair value | Level 3 | Derivatives | Current derivative | Capped Call | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 124,153 | |
At fair value | Level 3 | Derivatives | Current derivative | Interest rate swaps | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 0 | |
At fair value | Level 3 | Derivatives | Non-current derivative | Interest rate swaps | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 0 | 0 |
At fair value | Level 3 | Other non-current assets | Certificates of deposit and time deposits | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 0 | |
At fair value | Level 3 | Other non-current assets | Marketable equity securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 0 | 0 |
At fair value | Level 3 | Other non-current assets | Non-marketable equity securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | 126,995 | $ 11,750 |
At fair value | Level 3 | Other non-current assets | Non-marketable debt securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Total assets measured at fair value | $ 1,268 |
Financial Assets and Liabilit_7
Financial Assets and Liabilities - Reconciliation of Level 3 financial instrument fair values (Details) - Level 3 - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Capped Call | ||
Changes in fair value measurement, assets [abstract] | ||
Beginning balance | $ 124,153 | $ 310,608 |
Settlements or purchases | (135,497) | (203,093) |
Recognized in other comprehensive income | 0 | 0 |
Ending balance | 0 | 124,153 |
Change in unrealized gains (losses) relating to assets and liabilities held at end of period, recognized in other non-operating expense, net | 0 | 14,764 |
Change in unrealized gains (losses) relating to assets and liabilities held at end of period, recognized in other comprehensive income (loss) | 0 | |
Capped Call | Other non-operating expense, net | ||
Changes in fair value measurement, assets [abstract] | ||
Recognized in other non-operating expense, net | 11,344 | 16,638 |
Embedded exchange feature of Notes | ||
Changes in fair value measurement, liabilities [abstract] | ||
Beginning balance | (760,689) | (1,283,089) |
Settlements or purchases | 1,155,484 | |
Recognized in other comprehensive income | 0 | 0 |
Settlements, fair value measurement, liabilities | 1,196,515 | |
Ending balance | 0 | (760,689) |
Change in unrealized gains (losses) relating to liabilities held at end of period, recognized in other non-operating expense, net | 0 | (308,820) |
Change in unrealized gains (losses) relating to liabilities held at end of period, recognized in other comprehensive income (loss) | 0 | |
Embedded exchange feature of Notes | Other non-operating expense, net | ||
Changes in fair value measurement, liabilities [abstract] | ||
Recognized in other non-operating expense, net | (435,826) | (633,084) |
Non-marketable equity securities | ||
Changes in fair value measurement, assets [abstract] | ||
Beginning balance | 11,750 | 3,750 |
Purchases | 111,668 | 10,250 |
Recognized in other comprehensive income | 6,945 | (250) |
Ending balance | 128,263 | 11,750 |
Change in unrealized gains (losses) relating to assets and liabilities held at end of period, recognized in other non-operating expense, net | (2,100) | (2,000) |
Change in unrealized gains (losses) relating to assets and liabilities held at end of period, recognized in other comprehensive income (loss) | 6,945 | |
Non-marketable equity securities | Other non-operating expense, net | ||
Changes in fair value measurement, assets [abstract] | ||
Recognized in other non-operating expense, net | $ (2,100) | $ (2,000) |
Financial Assets and Liabilit_8
Financial Assets and Liabilities - Investments measured at fair value (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Jun. 30, 2021 |
Marketable debt securities | ||
Disclosure of financial assets [line items] | ||
Amortized Cost | $ 73,947 | $ 314,896 |
Unrealized Gains | 0 | 731 |
Unrealized Losses | (653) | (26) |
Fair Value | 73,294 | 315,601 |
Marketable debt securities | U.S. treasury securities | ||
Disclosure of financial assets [line items] | ||
Amortized Cost | 70,947 | 209,567 |
Unrealized Gains | 0 | 407 |
Unrealized Losses | (653) | (26) |
Fair Value | 70,294 | 209,948 |
Marketable debt securities | Agency securities | ||
Disclosure of financial assets [line items] | ||
Amortized Cost | 5,750 | |
Unrealized Gains | 2 | |
Unrealized Losses | 0 | |
Fair Value | 5,752 | |
Marketable debt securities | Certificates of deposit and time deposits | ||
Disclosure of financial assets [line items] | ||
Amortized Cost | 3,000 | 9,253 |
Unrealized Gains | 0 | 0 |
Unrealized Losses | 0 | 0 |
Fair Value | 3,000 | 9,253 |
Marketable debt securities | Corporate debt securities | ||
Disclosure of financial assets [line items] | ||
Amortized Cost | 87,626 | |
Unrealized Gains | 322 | |
Unrealized Losses | 0 | |
Fair Value | 87,948 | |
Marketable debt securities | Municipal securities | ||
Disclosure of financial assets [line items] | ||
Amortized Cost | 2,700 | |
Unrealized Gains | 0 | |
Unrealized Losses | 0 | |
Fair Value | 2,700 | |
Equity investments | ||
Disclosure of financial assets [line items] | ||
Amortized Cost | 135,938 | 24,270 |
Unrealized Gains | 27,226 | 100,139 |
Unrealized Losses | (4,100) | (2,250) |
Fair Value | 159,064 | 122,159 |
Equity investments | Marketable equity securities | ||
Disclosure of financial assets [line items] | ||
Amortized Cost | 10,270 | 10,270 |
Unrealized Gains | 20,531 | 100,139 |
Unrealized Losses | 0 | 0 |
Fair Value | 30,801 | 110,409 |
Equity investments | Non-marketable equity securities | ||
Disclosure of financial assets [line items] | ||
Amortized Cost | 120,300 | 12,000 |
Unrealized Gains | 6,695 | 0 |
Unrealized Losses | 0 | (250) |
Fair Value | 126,995 | 11,750 |
Equity investments | Non-marketable debt securities | ||
Disclosure of financial assets [line items] | ||
Amortized Cost | 5,368 | 2,000 |
Unrealized Gains | 0 | 0 |
Unrealized Losses | (4,100) | (2,000) |
Fair Value | $ 1,268 | $ 0 |
Financial Assets and Liabilit_9
Financial Assets and Liabilities - Investments gains and losses (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 | |
Disclosure of financial assets [line items] | |||
Unrealized fair value movements on non-marketable debt securities recognized in other non-operating expense, net | $ (2,100) | $ (2,000) | $ 0 |
Marketable debt securities | |||
Disclosure of financial assets [line items] | |||
Fair value movement recognized in other comprehensive income | (831) | (4,779) | 5,750 |
Gains recognized into profit or loss on sale of debt investments | 527 | 65 | 697 |
Unrealized fair value movements on non-marketable debt securities recognized in other non-operating expense, net | (2,100) | (2,000) | 0 |
Marketable equity securities | |||
Disclosure of financial assets [line items] | |||
Fair value movement recognized in other comprehensive income | (79,608) | 48,330 | 41,255 |
Non-marketable equity securities | |||
Disclosure of financial assets [line items] | |||
Fair value movement recognized in other comprehensive income | $ 6,945 | $ (250) | $ 0 |
Financial Assets and Liabili_10
Financial Assets and Liabilities - Investments by remaining contractual maturity (Details) - Marketable debt securities - USD ($) $ in Thousands | Jun. 30, 2022 | Jun. 30, 2021 |
Disclosure of financial assets [line items] | ||
Total investments | $ 73,294 | $ 315,601 |
Less than 1 year | ||
Disclosure of financial assets [line items] | ||
Total investments | 73,294 | 265,679 |
Due after one year | ||
Disclosure of financial assets [line items] | ||
Total investments | $ 0 | $ 49,922 |
Financial Assets and Liabili_11
Financial Assets and Liabilities - Fair value of derivative instruments (Details) - Currency risk - USD ($) $ in Thousands | Jun. 30, 2022 | Jun. 30, 2021 |
Foreign exchange forward contracts | ||
Derivative assets - hedging | ||
Total derivative assets | $ 44,052 | $ 6,480 |
Derivative liabilities - hedging | ||
Total derivative liabilities | 24,100 | 12,107 |
Current derivative | Foreign exchange forward contracts | ||
Derivative assets - hedging | ||
Derivatives designated as hedging instruments | 0 | 3,325 |
Derivatives not designated as hedging instruments | 389 | 8 |
Derivative liabilities - hedging | ||
Derivatives designated as hedging instruments | 18,208 | 5,336 |
Derivatives not designated as hedging instruments | 5,080 | 2,722 |
Current derivative | Interest rate swaps | ||
Derivative assets - hedging | ||
Derivatives designated as hedging instruments | 13,296 | 0 |
Derivative liabilities - hedging | ||
Derivatives designated as hedging instruments | 0 | 3,380 |
Other non-current assets | Interest rate swaps | ||
Derivative assets - hedging | ||
Derivatives designated as hedging instruments | 30,367 | 3,147 |
Other non-current liabilities | Foreign exchange forward contracts | ||
Derivative liabilities - hedging | ||
Derivatives designated as hedging instruments | $ 812 | $ 669 |
Financial Assets and Liabili_12
Financial Assets and Liabilities - Notional amounts of derivative instruments (Details) | 12 Months Ended | |
Jun. 30, 2022 USD ($) | Jun. 30, 2021 USD ($) | |
Foreign exchange forward contracts | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Notional amount | $ 649,538,000 | $ 658,988,000 |
Foreign exchange forward contracts | AUD | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Notional amount | $ 630,170,000 | $ 647,948,000 |
Average forward rate | 0.7171 | 0.7569 |
Foreign exchange forward contracts | EUR | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Notional amount | $ 19,368,000 | $ 11,040,000 |
Average forward rate | 1.0617 | 1.2025 |
Foreign exchange forward contracts | Non Hedge | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Notional amount | $ 248,004,000 | $ 261,804,000 |
Foreign exchange forward contracts | Non Hedge | AUD | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Notional amount | $ 228,636,000 | $ 250,764,000 |
Average forward rate | 0.7037 | 0.7579 |
Foreign exchange forward contracts | Non Hedge | EUR | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Notional amount | $ 19,368,000 | $ 11,040,000 |
Average forward rate | 1.0617 | 1.2025 |
Foreign exchange forward contracts | Cash Flow Hedge | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Notional amount | $ 401,534,000 | $ 397,184,000 |
Foreign exchange forward contracts | Cash Flow Hedge | AUD | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Notional amount | $ 401,534,000 | $ 397,184,000 |
Average forward rate | 0.7248 | 0.7563 |
Foreign exchange forward contracts | Cash Flow Hedge | EUR | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Notional amount | $ 0 | $ 0 |
Average forward rate | 0 | 0 |
Foreign exchange forward contracts | Under 12 months | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Notional amount | $ 612,523,000 | $ 634,361,000 |
Foreign exchange forward contracts | Under 12 months | AUD | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Notional amount | $ 593,155,000 | $ 623,321,000 |
Average forward rate | 0.7180 | 0.7563 |
Foreign exchange forward contracts | Under 12 months | EUR | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Notional amount | $ 19,368,000 | $ 11,040,000 |
Average forward rate | 1.0617 | 1.2025 |
Foreign exchange forward contracts | Over 12 months | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Notional amount | $ 37,015,000 | $ 24,627,000 |
Foreign exchange forward contracts | Over 12 months | AUD | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Notional amount | $ 37,015,000 | $ 24,627,000 |
Average forward rate | 0.7038 | 0.7718 |
Foreign exchange forward contracts | Over 12 months | EUR | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Notional amount | $ 0 | $ 0 |
Average forward rate | 0 | 0 |
Interest rate swaps | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Notional amount | $ 650,000,000 | $ 650,000,000 |
Average interest rate | 0.81% | 0.81% |
Interest rate swaps | Non Hedge | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Notional amount | $ 0 | $ 0 |
Average interest rate | ||
Interest rate swaps | Cash Flow Hedge | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Notional amount | $ 650,000,000 | $ 650,000,000 |
Average interest rate | 0.81% | 0.81% |
Interest rate swaps | Under 12 months | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Notional amount | $ 0 | $ 0 |
Average interest rate | ||
Interest rate swaps | Over 12 months | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Notional amount | $ 650,000,000 | $ 650,000,000 |
Average interest rate | 0.81% | 0.81% |
Financial Assets and Liabili_13
Financial Assets and Liabilities - Effects of derivatives designated as hedging instruments on consolidated financial statements (Details) - Designated as Hedging Instrument - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 | |
Foreign Exchange Forward Contracts | Cash Flow Hedge | |||
Disclosure of information about amounts that affected statement of comprehensive income as result of hedge accounting [line items] | |||
Gross unrealized gains (losses) recognized in other comprehensive income (loss) | $ (29,192) | $ 19,302 | $ 3,048 |
Net gains (losses) reclassified from cash flow hedge reserve into profit or loss - effective portion | (12,864) | 35,077 | (13,663) |
Change in fair value used for measuring ineffectiveness: | (29,295) | 19,312 | 2,889 |
Gains (losses) recognized into general and administrative - ineffective portion | (103) | 10 | (159) |
Foreign Exchange Forward Contracts | Cash Flow Hedge | Cost of revenues | |||
Disclosure of information about amounts that affected statement of comprehensive income as result of hedge accounting [line items] | |||
Net gains (losses) reclassified from cash flow hedge reserve into profit or loss - effective portion | (525) | 1,326 | (807) |
Foreign Exchange Forward Contracts | Cash Flow Hedge | Research and development | |||
Disclosure of information about amounts that affected statement of comprehensive income as result of hedge accounting [line items] | |||
Net gains (losses) reclassified from cash flow hedge reserve into profit or loss - effective portion | (10,513) | 28,490 | (9,647) |
Foreign Exchange Forward Contracts | Cash Flow Hedge | Marketing and sales | |||
Disclosure of information about amounts that affected statement of comprehensive income as result of hedge accounting [line items] | |||
Net gains (losses) reclassified from cash flow hedge reserve into profit or loss - effective portion | (220) | 400 | (273) |
Foreign Exchange Forward Contracts | Cash Flow Hedge | General and administrative | |||
Disclosure of information about amounts that affected statement of comprehensive income as result of hedge accounting [line items] | |||
Net gains (losses) reclassified from cash flow hedge reserve into profit or loss - effective portion | (1,606) | 4,861 | (2,936) |
Foreign Exchange Forward Contracts | Hedged item - highly probable forecast purchases | |||
Disclosure of information about amounts that affected statement of comprehensive income as result of hedge accounting [line items] | |||
Change in fair value used for measuring ineffectiveness: | (29,192) | 19,302 | 3,048 |
Interest rate swaps | Cash Flow Hedge | |||
Disclosure of information about amounts that affected statement of comprehensive income as result of hedge accounting [line items] | |||
Gross unrealized gains (losses) recognized in other comprehensive income (loss) | 40,613 | (233) | 0 |
Net gains (losses) reclassified from cash flow hedge reserve into profit or loss - effective portion | $ (3,153) | $ 0 | $ 0 |
Other Non-Operating Expense, _3
Other Non-Operating Expense, Net (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 | |
Disclosure of Additional Information [Abstract] | |||
Net loss on exchange derivative and capped calls | $ (424,482) | $ (616,446) | $ (335,953) |
Foreign currency exchange gain (loss), net | 2,695 | 4,054 | 910 |
Contributions to Atlassian Foundation | (9,742) | (7,809) | (5,282) |
Other income (expense) | (3,059) | (558) | 1,839 |
Other non-operating expense, net | $ (434,588) | $ (620,759) | $ (338,486) |
Expenses - Loss before income t
Expenses - Loss before income tax expense (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 | |
Disclosure of Non-Financial Assets [Line Items] | |||
Total depreciation | $ 18,765 | $ 23,542 | $ 19,736 |
Total amortization | 32,398 | 31,754 | 42,535 |
Total depreciation and amortization | 51,163 | 55,296 | 62,271 |
Employee benefits expense: | |||
Salaries and wages | 880,421 | 637,143 | 467,718 |
Variable compensation | 169,695 | 106,835 | 82,851 |
Payroll taxes | 88,878 | 68,543 | 53,189 |
Share-based payment expense | 707,087 | 385,732 | 313,395 |
Defined contribution plan expense | 54,441 | 39,116 | 29,783 |
Contractor expense | 29,241 | 26,589 | 35,343 |
Other | 124,416 | 83,350 | 63,362 |
Total employee benefits expense | 2,054,179 | 1,347,308 | 1,045,641 |
Right of use assets | 0 | 3,759 | 0 |
Property and equipment | 0 | 3,676 | 0 |
Total impairment | 0 | 7,435 | 0 |
Patents and trademarks | |||
Disclosure of Non-Financial Assets [Line Items] | |||
Total amortization | 1,305 | 1,124 | 5,377 |
Customer relationships | |||
Disclosure of Non-Financial Assets [Line Items] | |||
Total amortization | 8,652 | 8,939 | 8,086 |
Acquired developed technology | |||
Disclosure of Non-Financial Assets [Line Items] | |||
Total amortization | 22,441 | 21,691 | 29,072 |
Equipment | |||
Disclosure of Non-Financial Assets [Line Items] | |||
Total depreciation | 1,641 | 2,150 | 2,077 |
Computer hardware and software | |||
Disclosure of Non-Financial Assets [Line Items] | |||
Total depreciation | 1,648 | 1,897 | 1,096 |
Furniture and fittings | |||
Disclosure of Non-Financial Assets [Line Items] | |||
Total depreciation | 3,180 | 3,442 | 3,000 |
Leasehold improvements | |||
Disclosure of Non-Financial Assets [Line Items] | |||
Total depreciation | $ 12,296 | $ 16,053 | $ 13,563 |
Expenses- Narrative (Details)
Expenses- Narrative (Details) | Jun. 30, 2021 USD ($) |
Analysis of income and expense [abstract] | |
Lease amounts recoverable | $ 0 |
Expenses - Impairment charges (
Expenses - Impairment charges (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 | |
Disclosure of Non-Financial Assets [Line Items] | |||
Total impairment | $ 0 | $ 7,435 | $ 0 |
Cost of revenues | |||
Disclosure of Non-Financial Assets [Line Items] | |||
Total impairment | 1,710 | ||
Research and development | |||
Disclosure of Non-Financial Assets [Line Items] | |||
Total impairment | 3,217 | ||
Marketing and sales | |||
Disclosure of Non-Financial Assets [Line Items] | |||
Total impairment | 195 | ||
General and administrative | |||
Disclosure of Non-Financial Assets [Line Items] | |||
Total impairment | $ 2,313 |
Income Tax - Major components o
Income Tax - Major components of income tax benefit (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 | |
Current income tax: | |||
Current income tax charge | $ (51,417) | $ (74,126) | $ (25,715) |
Adjustments in respect to current income tax of previous years | (472) | 702 | 1,276 |
Deferred tax: | |||
Benefit relating to origination and reversal of temporary differences | 2,186 | 11,422 | 18,702 |
Adjustments in respect to deferred income tax of previous years | 151 | 351 | 1,292 |
Income tax expense | $ (49,552) | $ (61,651) | $ (4,445) |
Income Tax - Reconciliation of
Income Tax - Reconciliation of income tax benefit (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 | |
Income Taxes [Abstract] | |||
Loss before income tax expense | $ (564,572) | $ (634,664) | $ (346,209) |
Statutory income tax rate | 19% | 19% | 19% |
At the United Kingdom's statutory income tax rate of 19% in fiscal years 2022, 2021 and 2020 | $ 107,269 | $ 120,586 | $ 65,688 |
Tax effect of amounts that are not taxable (deductible) in calculating taxable income: | |||
Research and development incentive | 15,597 | 7,693 | 6,816 |
Non-deductible charges relating to exchangeable senior notes | (92,275) | (149,265) | (80,262) |
Share-based payment | (9,162) | (14,674) | (10,619) |
Foreign tax credits not utilized | (518) | (166) | (93) |
Foreign tax paid | 9,105 | 15,797 | 4,765 |
Foreign tax rate differential | 30,879 | (9,008) | 1,416 |
Adjustment to unrecognized deferred tax balance | (102,986) | (37,062) | 8,835 |
Other items, net | (7,140) | 3,395 | (3,559) |
Income tax benefit (expense) before adjustments in respect to current and deferred tax of previous years | (49,231) | (62,704) | (7,013) |
Adjustments in respect to current income tax of previous years | (472) | 702 | 1,276 |
Adjustments in respect to deferred income tax of previous years | 151 | 351 | 1,292 |
Income tax expense | $ (49,552) | $ (61,651) | $ (4,445) |
Income Tax - Reconciliation o_2
Income Tax - Reconciliation of deferred tax assets, net (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 | |
Reflected in the consolidated statements of financial position as follows: | |||
Deferred tax assets, net | $ 16,303 | $ 9,549 | $ 4,047 |
Deferred tax benefit (expense) | 2,337 | 11,773 | (15,916) |
Deferred tax assets | 42,760 | 36,174 | |
Deferred tax liabilities | (26,457) | (26,625) | |
Items for which no deferred tax asset has been recognized: | |||
Depreciation and amortization for tax purposes | 15,720 | 9,747 | |
Provisions, accruals and prepayments | 61,597 | 45,711 | |
Deferred revenue | 161,508 | 86,722 | |
Unrealized foreign currency exchange gains | 2,484 | 3,569 | |
Unused tax losses | 1,005,649 | 814,106 | |
Intangible assets | 1,527,714 | 1,682,610 | |
Tax benefit from share plans- income | 76,843 | 69,113 | |
Tax benefit from share plans- equity | 15,402 | 74,631 | |
Carried forward tax credits- credited to profit and loss | 142,178 | 100,251 | |
Unrealized loss on investments | 11,169 | 1,541 | |
Other, net | 38,561 | 28,063 | |
Items for which no deferred tax assets is recognized | 3,058,825 | 2,916,064 | |
Reconciliation of deferred tax assets, net | |||
Beginning balance | 9,549 | 4,047 | |
Deferred tax expense for the year | 2,337 | 11,773 | |
Credited (Debited) to equity | 6,975 | (6,147) | |
Impact from business combinations | (733) | (97) | |
Currency revaluation impact | (341) | (27) | |
Ending balance | 16,303 | 9,549 | 4,047 |
Depreciation for tax purposes | |||
Reflected in the consolidated statements of financial position as follows: | |||
Deferred tax assets, net | 2,143 | 275 | |
Deferred tax benefit (expense) | 1,691 | (215) | (2,564) |
Reconciliation of deferred tax assets, net | |||
Beginning balance | 275 | ||
Ending balance | 2,143 | 275 | |
Provisions, accruals and prepayments | |||
Reflected in the consolidated statements of financial position as follows: | |||
Deferred tax assets, net | (3,245) | (1,427) | |
Deferred tax benefit (expense) | (1,697) | (1,843) | (7,164) |
Reconciliation of deferred tax assets, net | |||
Beginning balance | (1,427) | ||
Ending balance | (3,245) | (1,427) | |
Deferred revenue | |||
Reflected in the consolidated statements of financial position as follows: | |||
Deferred tax assets, net | 2,963 | (948) | |
Deferred tax benefit (expense) | 1,291 | (1,198) | (23,932) |
Reconciliation of deferred tax assets, net | |||
Beginning balance | (948) | ||
Ending balance | 2,963 | (948) | |
Unrealized foreign currency exchange losses (gains) | |||
Reflected in the consolidated statements of financial position as follows: | |||
Deferred tax assets, net | (3,450) | 9 | |
Deferred tax benefit (expense) | (802) | 1,422 | (101) |
Reconciliation of deferred tax assets, net | |||
Beginning balance | 9 | ||
Ending balance | (3,450) | 9 | |
Unrealized investment gains | |||
Reflected in the consolidated statements of financial position as follows: | |||
Deferred tax assets, net | (16,205) | (23,150) | |
Deferred tax benefit (expense) | 8 | 5,269 | (405) |
Reconciliation of deferred tax assets, net | |||
Beginning balance | (23,150) | ||
Ending balance | (16,205) | (23,150) | |
Carried forward tax losses | |||
Reflected in the consolidated statements of financial position as follows: | |||
Deferred tax assets, net | 8,101 | 7,610 | |
Deferred tax benefit (expense) | 1,966 | 1,970 | (409) |
Reconciliation of deferred tax assets, net | |||
Beginning balance | 7,610 | ||
Ending balance | 8,101 | 7,610 | |
Carried forward tax credits—credited to profit and loss | |||
Reflected in the consolidated statements of financial position as follows: | |||
Deferred tax assets, net | 13,557 | 9,129 | |
Deferred tax benefit (expense) | 6,757 | 5,555 | (3,005) |
Reconciliation of deferred tax assets, net | |||
Beginning balance | 9,129 | ||
Ending balance | 13,557 | 9,129 | |
Intangible assets | |||
Reflected in the consolidated statements of financial position as follows: | |||
Deferred tax assets, net | 10,409 | 15,555 | |
Deferred tax benefit (expense) | (3,853) | 44 | 13,095 |
Reconciliation of deferred tax assets, net | |||
Beginning balance | 15,555 | ||
Ending balance | 10,409 | 15,555 | |
Tax benefit from share plans—income | |||
Reflected in the consolidated statements of financial position as follows: | |||
Deferred tax assets, net | 1,651 | 1,143 | |
Deferred tax benefit (expense) | 718 | 162 | 331 |
Reconciliation of deferred tax assets, net | |||
Beginning balance | 1,143 | ||
Ending balance | 1,651 | 1,143 | |
Tax benefit from share plans—equity | |||
Reflected in the consolidated statements of financial position as follows: | |||
Deferred tax assets, net | 133 | 733 | |
Deferred tax benefit (expense) | (870) | (704) | 300 |
Reconciliation of deferred tax assets, net | |||
Beginning balance | 733 | ||
Ending balance | 133 | 733 | |
Deferred foreign taxes | |||
Reflected in the consolidated statements of financial position as follows: | |||
Deferred tax benefit (expense) | 0 | 0 | 10,605 |
Other, net | |||
Reflected in the consolidated statements of financial position as follows: | |||
Deferred tax assets, net | 246 | 620 | |
Deferred tax benefit (expense) | (2,872) | 1,311 | $ (2,667) |
Reconciliation of deferred tax assets, net | |||
Beginning balance | 620 | ||
Ending balance | $ 246 | $ 620 |
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, 2022 | Jun. 30, 2021 | |
Income Taxes [Abstract] | ||
Net deferred tax—credited (debited) directly to equity | $ 6,975 | $ (6,147) |
Income Tax - Losses and credits
Income Tax - Losses and credits available for offsetting future profit and taxes (Details) $ in Thousands | Jun. 30, 2022 USD ($) |
State | June 30, 2024-June 30, 2041 | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Net operating loss, amount carried forward | $ 1,269,537 |
Net operating loss, amount recognized | 685 |
United Kingdom | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Net operating loss, amount carried forward | 14,602 |
Net operating loss, amount recognized | 0 |
Research and development carryforward | United States | June 30, 2025-June 30, 2041 | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Tax credits, amount carried forward | 98,885 |
Tax credits, amounts recognized | 813 |
Research and development carryforward | California | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Tax credits, amount carried forward | 54,033 |
Tax credits, amounts recognized | 374 |
Research and development carryforward | Texas | June 30, 2036-June 30, 2041 | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Tax credits, amount carried forward | 6,157 |
Tax credits, amounts recognized | 6,157 |
Research and development carryforward | Poland | June 30,2026 - June 30,2028 | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Tax credits, amount carried forward | 1,729 |
Tax credits, amounts recognized | 0 |
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 |
Alternative minimum tax credit | India | March 31, 2036 - March 31, 2037 | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Tax credits, amount carried forward | 6,211 |
Tax credits, amounts recognized | 6,211 |
Pre-2017 U.S. Tax Reform | United States | June 30, 2030-December 30, 2038 | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Net operating loss, amount carried forward | 137,635 |
Net operating loss, amount recognized | 230 |
Post-2017 U.S. Tax Reform | United States | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Net operating loss, amount carried forward | 4,290,309 |
Net operating loss, amount recognized | $ 7,172 |
Trade Receivables - Group's tra
Trade Receivables - Group's trade receivables (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 |
Disclosure of detailed information about financial instruments [line items] | |||
Trade receivables | $ 308,127 | $ 173,473 | |
Gross carrying amount | |||
Disclosure of detailed information about financial instruments [line items] | |||
Trade receivables | 312,172 | 173,849 | |
Trade receivables | |||
Disclosure of detailed information about financial instruments [line items] | |||
Expected credit loss allowance | $ (4,045) | $ (376) | $ (1,156) |
Trade Receivables - Movement in
Trade Receivables - Movement in ECL allowance (Details) - Trade receivables - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Changes in allowance account for credit losses of financial assets [abstract] | ||
Beginning balance | $ 376 | $ 1,156 |
Change in estimate | 3,669 | (780) |
Ending balance | $ 4,045 | $ 376 |
Trade Receivables - Aging (Deta
Trade Receivables - Aging (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 |
Disclosure of financial assets that are either past due or impaired [line items] | |||
Trade receivables | $ 308,127 | $ 173,473 | |
Gross carrying amount | |||
Disclosure of financial assets that are either past due or impaired [line items] | |||
Trade receivables | 312,172 | 173,849 | |
Trade receivables | |||
Disclosure of financial assets that are either past due or impaired [line items] | |||
ECL allowance | 4,045 | 376 | $ 1,156 |
Current | Gross carrying amount | |||
Disclosure of financial assets that are either past due or impaired [line items] | |||
Trade receivables | $ 256,418 | $ 157,804 | |
Current | Trade receivables | |||
Disclosure of financial assets that are either past due or impaired [line items] | |||
ECL rate | 0% | 0% | |
ECL allowance | $ 0 | $ 6 | |
Less than 90 days | Gross carrying amount | |||
Disclosure of financial assets that are either past due or impaired [line items] | |||
Trade receivables | $ 44,636 | $ 14,468 | |
Less than 90 days | Trade receivables | |||
Disclosure of financial assets that are either past due or impaired [line items] | |||
ECL rate | 3.30% | 0.30% | |
ECL allowance | $ 1,479 | $ 41 | |
More than 90 days | Gross carrying amount | |||
Disclosure of financial assets that are either past due or impaired [line items] | |||
Trade receivables | $ 11,118 | $ 1,577 | |
More than 90 days | Trade receivables | |||
Disclosure of financial assets that are either past due or impaired [line items] | |||
ECL rate | 23.10% | 20.90% | |
ECL allowance | $ 2,566 | $ 329 |
Property and Equipment (Details
Property and Equipment (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 | |
Reconciliation of changes in property, plant and equipment [abstract] | |||
Opening balance | $ 66,221 | ||
Impairment | 0 | $ (3,676) | $ 0 |
Closing balance | 98,554 | 66,221 | |
Gross carrying amount | |||
Reconciliation of changes in property, plant and equipment [abstract] | |||
Opening balance | 148,151 | 155,765 | |
Additions | 51,933 | 29,977 | |
Transfer to assets held for sale | (35,123) | ||
Effect of change in exchange rates | (2,055) | 2,446 | |
Disposals | (25,741) | (4,914) | |
Closing balance | 172,288 | 148,151 | 155,765 |
Accumulated depreciation | |||
Reconciliation of changes in property, plant and equipment [abstract] | |||
Opening balance | (81,930) | (58,117) | |
Depreciation expense | (23,542) | ||
Effect of change in exchange rates | (133) | ||
Disposals | 3,538 | ||
Closing balance | (81,930) | (58,117) | |
Accumulated depreciation, amortization and impairment | |||
Reconciliation of changes in property, plant and equipment [abstract] | |||
Opening balance | (81,930) | ||
Depreciation expense | (18,765) | ||
Impairment | (3,676) | ||
Effect of change in exchange rates | 1,420 | ||
Disposals | 25,541 | ||
Closing balance | (73,734) | (81,930) | |
Equipment | |||
Reconciliation of changes in property, plant and equipment [abstract] | |||
Opening balance | 2,885 | ||
Closing balance | 1,237 | 2,885 | |
Equipment | Gross carrying amount | |||
Reconciliation of changes in property, plant and equipment [abstract] | |||
Opening balance | 10,430 | 9,652 | |
Additions | 78 | 1,077 | |
Transfer to assets held for sale | 0 | ||
Effect of change in exchange rates | (208) | 12 | |
Disposals | (1,160) | (311) | |
Closing balance | 9,140 | 10,430 | 9,652 |
Equipment | Accumulated depreciation | |||
Reconciliation of changes in property, plant and equipment [abstract] | |||
Opening balance | (7,545) | (5,618) | |
Depreciation expense | (2,150) | ||
Effect of change in exchange rates | (7) | ||
Disposals | 230 | ||
Closing balance | (7,545) | (5,618) | |
Equipment | Accumulated depreciation, amortization and impairment | |||
Reconciliation of changes in property, plant and equipment [abstract] | |||
Opening balance | (7,545) | ||
Depreciation expense | (1,641) | ||
Impairment | 0 | ||
Effect of change in exchange rates | 130 | ||
Disposals | 1,153 | ||
Closing balance | (7,903) | (7,545) | |
Computer Hardware and Software | |||
Reconciliation of changes in property, plant and equipment [abstract] | |||
Opening balance | 475 | ||
Closing balance | 15,422 | 475 | |
Computer Hardware and Software | Gross carrying amount | |||
Reconciliation of changes in property, plant and equipment [abstract] | |||
Opening balance | 9,537 | 12,065 | |
Additions | 16,818 | 170 | |
Transfer to assets held for sale | 0 | ||
Effect of change in exchange rates | (311) | (4) | |
Disposals | (7,720) | (2,694) | |
Closing balance | 18,324 | 9,537 | 12,065 |
Computer Hardware and Software | Accumulated depreciation | |||
Reconciliation of changes in property, plant and equipment [abstract] | |||
Opening balance | (9,062) | (8,611) | |
Depreciation expense | (1,897) | ||
Effect of change in exchange rates | 4 | ||
Disposals | 1,442 | ||
Closing balance | (9,062) | (8,611) | |
Computer Hardware and Software | Accumulated depreciation, amortization and impairment | |||
Reconciliation of changes in property, plant and equipment [abstract] | |||
Opening balance | (9,062) | ||
Depreciation expense | (1,648) | ||
Impairment | 0 | ||
Effect of change in exchange rates | 88 | ||
Disposals | 7,720 | ||
Closing balance | (2,902) | (9,062) | |
Furniture and Fittings | |||
Reconciliation of changes in property, plant and equipment [abstract] | |||
Opening balance | 9,929 | ||
Closing balance | 12,986 | 9,929 | |
Furniture and Fittings | Gross carrying amount | |||
Reconciliation of changes in property, plant and equipment [abstract] | |||
Opening balance | 21,188 | 19,687 | |
Additions | 6,409 | 2,051 | |
Transfer to assets held for sale | 0 | ||
Effect of change in exchange rates | (210) | 93 | |
Disposals | (2,230) | (643) | |
Closing balance | 25,157 | 21,188 | 19,687 |
Furniture and Fittings | Accumulated depreciation | |||
Reconciliation of changes in property, plant and equipment [abstract] | |||
Opening balance | (11,259) | (8,388) | |
Depreciation expense | (3,442) | ||
Effect of change in exchange rates | (31) | ||
Disposals | 602 | ||
Closing balance | (11,259) | (8,388) | |
Furniture and Fittings | Accumulated depreciation, amortization and impairment | |||
Reconciliation of changes in property, plant and equipment [abstract] | |||
Opening balance | (11,259) | ||
Depreciation expense | (3,180) | ||
Impairment | 0 | ||
Effect of change in exchange rates | 119 | ||
Disposals | 2,149 | ||
Closing balance | (12,171) | (11,259) | |
Leasehold Improvements and Other | |||
Reconciliation of changes in property, plant and equipment [abstract] | |||
Opening balance | 52,932 | ||
Closing balance | 68,909 | 52,932 | |
Leasehold Improvements and Other | Gross carrying amount | |||
Reconciliation of changes in property, plant and equipment [abstract] | |||
Opening balance | 106,996 | 103,100 | |
Additions | 28,628 | 4,807 | |
Transfer to assets held for sale | 0 | ||
Effect of change in exchange rates | (1,326) | 355 | |
Disposals | (14,631) | (1,266) | |
Closing balance | 119,667 | 106,996 | 103,100 |
Leasehold Improvements and Other | Accumulated depreciation | |||
Reconciliation of changes in property, plant and equipment [abstract] | |||
Opening balance | (54,064) | (35,500) | |
Depreciation expense | (16,053) | ||
Effect of change in exchange rates | (99) | ||
Disposals | 1,264 | ||
Closing balance | (54,064) | (35,500) | |
Leasehold Improvements and Other | Accumulated depreciation, amortization and impairment | |||
Reconciliation of changes in property, plant and equipment [abstract] | |||
Opening balance | (54,064) | ||
Depreciation expense | (12,296) | ||
Impairment | (3,676) | ||
Effect of change in exchange rates | 1,083 | ||
Disposals | 14,519 | ||
Closing balance | (50,758) | (54,064) | |
Construction in progress | |||
Reconciliation of changes in property, plant and equipment [abstract] | |||
Opening balance | 0 | ||
Closing balance | 0 | 0 | |
Construction in progress | Gross carrying amount | |||
Reconciliation of changes in property, plant and equipment [abstract] | |||
Opening balance | 0 | 11,261 | |
Additions | 0 | 21,872 | |
Transfer to assets held for sale | (35,123) | ||
Effect of change in exchange rates | 0 | 1,990 | |
Disposals | 0 | 0 | |
Closing balance | 0 | 0 | 11,261 |
Construction in progress | Accumulated depreciation | |||
Reconciliation of changes in property, plant and equipment [abstract] | |||
Opening balance | 0 | 0 | |
Depreciation expense | 0 | ||
Effect of change in exchange rates | 0 | ||
Disposals | 0 | ||
Closing balance | 0 | $ 0 | |
Construction in progress | Accumulated depreciation, amortization and impairment | |||
Reconciliation of changes in property, plant and equipment [abstract] | |||
Opening balance | 0 | ||
Depreciation expense | 0 | ||
Impairment | 0 | ||
Effect of change in exchange rates | 0 | ||
Disposals | 0 | ||
Closing balance | $ 0 | $ 0 |
Goodwill and Intangible Asset_2
Goodwill and Intangible Assets - Goodwill (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Reconciliation of changes in intangible assets and goodwill [abstract] | ||
Beginning balance | $ 725,758 | $ 645,140 |
Additions | 9,361 | 80,649 |
Ending balance | 732,666 | 725,758 |
Goodwill | ||
Reconciliation of changes in intangible assets and goodwill [abstract] | ||
Effect of change in exchange rates | $ (2,453) | $ (31) |
Goodwill and Intangible Asset_3
Goodwill and Intangible Assets - Narrative (Details) | 12 Months Ended |
Jun. 30, 2022 USD ($) | |
Capitalised development expenditure | |
Disclosure of detailed information about intangible assets [line items] | |
Development costs qualified for capitalization | $ 0 |
Bottom of range | Patents, Trademarks and Other Rights | |
Disclosure of detailed information about intangible assets [line items] | |
Remaining amortization period of intangible assets material to entity (in years) | 1 year |
Bottom of range | Acquired developed technology | |
Disclosure of detailed information about intangible assets [line items] | |
Remaining amortization period of intangible assets material to entity (in years) | 1 year |
Bottom of range | Customer relationships | |
Disclosure of detailed information about intangible assets [line items] | |
Remaining amortization period of intangible assets material to entity (in years) | 1 year |
Top of range | Patents, Trademarks and Other Rights | |
Disclosure of detailed information about intangible assets [line items] | |
Remaining amortization period of intangible assets material to entity (in years) | 9 years |
Top of range | Acquired developed technology | |
Disclosure of detailed information about intangible assets [line items] | |
Remaining amortization period of intangible assets material to entity (in years) | 4 years |
Top of range | Customer relationships | |
Disclosure of detailed information about intangible assets [line items] | |
Remaining amortization period of intangible assets material to entity (in years) | 6 years |
Goodwill and Intangible Asset_4
Goodwill and Intangible Assets - Intangible assets (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Disclosure of detailed information about intangible assets [line items] | ||
Opening balance | $ 124,590 | |
Closing balance | 100,840 | $ 124,590 |
Gross carrying amount | ||
Disclosure of detailed information about intangible assets [line items] | ||
Opening balance | 390,265 | 371,041 |
Additions | 8,648 | 26,654 |
Disposals | (1,400) | (7,430) |
Closing balance | 397,513 | 390,265 |
Accumulated depreciation, amortization and impairment | ||
Disclosure of detailed information about intangible assets [line items] | ||
Opening balance | (265,675) | (241,351) |
Amortization charge | (32,398) | (31,754) |
Disposals | 1,400 | 7,430 |
Closing balance | (296,673) | (265,675) |
Patents, Trademarks and Other Rights | ||
Disclosure of detailed information about intangible assets [line items] | ||
Opening balance | 5,266 | |
Closing balance | 7,979 | 5,266 |
Patents, Trademarks and Other Rights | Gross carrying amount | ||
Disclosure of detailed information about intangible assets [line items] | ||
Opening balance | 29,375 | 27,795 |
Additions | 4,018 | 1,800 |
Disposals | 0 | (220) |
Closing balance | 33,393 | 29,375 |
Patents, Trademarks and Other Rights | Accumulated depreciation, amortization and impairment | ||
Disclosure of detailed information about intangible assets [line items] | ||
Opening balance | (24,109) | (23,205) |
Amortization charge | (1,305) | (1,124) |
Disposals | 0 | 220 |
Closing balance | (25,414) | (24,109) |
Acquired developed technology | ||
Disclosure of detailed information about intangible assets [line items] | ||
Opening balance | 68,912 | |
Closing balance | 50,240 | 68,912 |
Acquired developed technology | Gross carrying amount | ||
Disclosure of detailed information about intangible assets [line items] | ||
Opening balance | 230,849 | 214,744 |
Additions | 3,769 | 23,005 |
Disposals | 0 | (6,900) |
Closing balance | 234,618 | 230,849 |
Acquired developed technology | Accumulated depreciation, amortization and impairment | ||
Disclosure of detailed information about intangible assets [line items] | ||
Opening balance | (161,937) | (147,146) |
Amortization charge | (22,441) | (21,691) |
Disposals | 0 | 6,900 |
Closing balance | (184,378) | (161,937) |
Customer relationships | ||
Disclosure of detailed information about intangible assets [line items] | ||
Opening balance | 50,412 | |
Closing balance | 42,621 | 50,412 |
Customer relationships | Gross carrying amount | ||
Disclosure of detailed information about intangible assets [line items] | ||
Opening balance | 130,041 | 128,502 |
Additions | 861 | 1,849 |
Disposals | (1,400) | (310) |
Closing balance | 129,502 | 130,041 |
Customer relationships | Accumulated depreciation, amortization and impairment | ||
Disclosure of detailed information about intangible assets [line items] | ||
Opening balance | (79,629) | (71,000) |
Amortization charge | (8,652) | (8,939) |
Disposals | 1,400 | 310 |
Closing balance | $ (86,881) | $ (79,629) |
Leases - Narrative (Details)
Leases - Narrative (Details) | 12 Months Ended |
Jun. 30, 2022 | |
Bottom of range | |
Disclosure of quantitative information about right-of-use assets [line items] | |
Term of lease (in years) | 1 year |
Top of range | |
Disclosure of quantitative information about right-of-use assets [line items] | |
Term of lease (in years) | 12 years |
Leases - Schedule of right-of-u
Leases - Schedule of right-of-use assets and lease liabilities (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 | |
Right-of-use assets | |||
Balance at the beginning of period | $ 205,300 | $ 217,683 | |
Additions | 105,592 | 28,939 | |
Disposals | 0 | (256) | |
Depreciation expense | (42,795) | (37,552) | |
Effect of change in exchange rates | (769) | 245 | |
Impairment of right-of-use asset | 0 | (3,759) | $ 0 |
Balance at the end of period | 267,328 | 205,300 | 217,683 |
Lease obligations | |||
Balance at the beginning of period | 256,549 | 264,568 | |
Additions | 105,961 | 27,042 | |
Disposals | 0 | (270) | |
Interest expense | 7,257 | 7,019 | |
Payments | (49,142) | (44,874) | |
Effect of change in exchange rates | (5,553) | 3,064 | |
Balance at the end of period | 315,072 | 256,549 | 264,568 |
Lease liabilities total | |||
Lease obligations, current | 40,638 | 42,446 | |
Lease obligations, non-current | 274,434 | 214,103 | |
Total lease obligations, as the end of period | $ 315,072 | $ 256,549 | $ 264,568 |
Leases - Supplemental informati
Leases - Supplemental information about leases (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Short-term leases and low value leases expense: | ||
Short-term leases expense | $ 363 | $ 336 |
Low value leases expense | 2,198 | 1,436 |
Cash outflows: | ||
Principal portion of the lease obligations | 41,885 | 37,855 |
Interest portion of the lease obligations | 7,257 | 7,019 |
Short-term leases and low value leases | 2,035 | 2,999 |
Total cash outflows | $ 51,177 | $ 47,873 |
Leases - Agreement For Lease (D
Leases - Agreement For Lease (Details) - Agreement For Lease $ in Millions | 12 Months Ended |
Jun. 30, 2022 USD ($) extensionOption | |
Disclosure of quantitative information about right-of-use assets [line items] | |
Leases that have not yet commenced, term (in years) | 15 years |
Number of extension options | extensionOption | 2 |
Length of extension period (in years) | 10 years |
Leases that have not yet commenced, amount | $ | $ 1,000 |
Business Combinations - Narrati
Business Combinations - Narrative (Details) - USD ($) $ in Thousands | Feb. 26, 2021 | Jul. 24, 2020 | May 11, 2020 | Oct. 15, 2019 | Jun. 30, 2022 | Jun. 30, 2021 | Apr. 12, 2021 | Oct. 27, 2020 | Jun. 30, 2020 |
Disclosure of detailed information about business combination [line items] | |||||||||
Goodwill | $ 732,666 | $ 725,758 | $ 645,140 | ||||||
Mindville AB | |||||||||
Disclosure of detailed information about business combination [line items] | |||||||||
Percentage of voting equity interests acquired | 100% | ||||||||
Cash transferred | $ 36,400 | ||||||||
Value of restricted shares granted | (12,000) | ||||||||
Transaction costs | 1,100 | ||||||||
New assets acquired | 36,446 | ||||||||
Goodwill | $ 30,039 | ||||||||
Chart.io, Inc. | |||||||||
Disclosure of detailed information about business combination [line items] | |||||||||
Percentage of voting equity interests acquired | 100% | ||||||||
Cash transferred | $ 45,000 | ||||||||
Value of restricted shares granted | 4,500 | ||||||||
Consideration transferred, acquisition-date fair value | 45,600 | ||||||||
Equity interests of acquirer | 600 | ||||||||
Developed technology | $ 12,400 | ||||||||
Useful lives of intangible assets (in years) | 6 years | ||||||||
New assets acquired | $ 45,568 | ||||||||
Goodwill | $ 33,437 | ||||||||
Code Barrel | |||||||||
Disclosure of detailed information about business combination [line items] | |||||||||
Percentage of voting equity interests acquired | 100% | ||||||||
Value of restricted shares granted | $ (27,000) | ||||||||
Consideration transferred, acquisition-date fair value | 39,100 | ||||||||
New assets acquired | 39,138 | ||||||||
Goodwill | $ 23,124 | ||||||||
Halp | |||||||||
Disclosure of detailed information about business combination [line items] | |||||||||
Percentage of voting equity interests acquired | 100% | ||||||||
Cash transferred | $ 17,000 | ||||||||
Value of restricted shares granted | (4,100) | ||||||||
Consideration transferred, acquisition-date fair value | 17,600 | ||||||||
Equity interests of acquirer | 600 | ||||||||
New assets acquired | 17,582 | ||||||||
Goodwill | $ 12,322 | ||||||||
Number of replacement shares issued (shares) | 9,929 | ||||||||
October 27, 2020 Acquisition | |||||||||
Disclosure of detailed information about business combination [line items] | |||||||||
Percentage of voting equity interests acquired | 100% | ||||||||
Cash transferred | $ 10,600 | ||||||||
New assets acquired | (700) | ||||||||
Goodwill | $ 11,300 | ||||||||
April 12, 2021 Acquisition | |||||||||
Disclosure of detailed information about business combination [line items] | |||||||||
Percentage of voting equity interests acquired | 100% | ||||||||
Cash transferred | $ 9,200 | ||||||||
Developed technology | 2,400 | ||||||||
Goodwill | 6,000 | ||||||||
Net tangible assets | 300 | ||||||||
Customer-related intangible assets | $ 500 |
Business Combinations - Fair va
Business Combinations - Fair values of assets and liabilities (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Jun. 30, 2021 | Feb. 26, 2021 | Jul. 24, 2020 | Jun. 30, 2020 | May 11, 2020 | Oct. 15, 2019 |
Amounts recognised as of acquisition date for each major class of assets acquired and liabilities assumed [abstract] | |||||||
Goodwill | $ 732,666 | $ 725,758 | $ 645,140 | ||||
Mindville AB | |||||||
Amounts recognised as of acquisition date for each major class of assets acquired and liabilities assumed [abstract] | |||||||
Cash and cash equivalents | $ 1,235 | ||||||
Tax receivables, current | 166 | ||||||
Prepaid expenses and other current assets | 668 | ||||||
Property and equipment, net | 52 | ||||||
Right-of-use assets, net | 403 | ||||||
Intangible assets | 9,600 | ||||||
Goodwill | 30,039 | ||||||
Trade and other payables | (492) | ||||||
Tax liabilities | (23) | ||||||
Provisions, current | (135) | ||||||
Deferred revenue | (1,300) | ||||||
Lease obligations, current | (268) | ||||||
Deferred tax liabilities | (2,694) | ||||||
Lease obligations, non-current | (136) | ||||||
Other non-current liabilities | (669) | ||||||
Net assets acquired | $ 36,446 | ||||||
Chart.io, Inc. | |||||||
Amounts recognised as of acquisition date for each major class of assets acquired and liabilities assumed [abstract] | |||||||
Cash and cash equivalents | $ 1,035 | ||||||
Trade receivables | 266 | ||||||
Prepaid expenses and other current assets | 40 | ||||||
Deferred tax assets | 3,133 | ||||||
Developed technology | 12,400 | ||||||
Goodwill | 33,437 | ||||||
Trade and other payables | (674) | ||||||
Deferred revenue | (682) | ||||||
Deferred tax liabilities | (3,387) | ||||||
Net assets acquired | $ 45,568 | ||||||
Code Barrel | |||||||
Amounts recognised as of acquisition date for each major class of assets acquired and liabilities assumed [abstract] | |||||||
Cash and cash equivalents | $ 1,970 | ||||||
Intangible assets | 15,900 | ||||||
Goodwill | 23,124 | ||||||
Trade and other payables | (617) | ||||||
Deferred revenue | (600) | ||||||
Deferred tax liabilities | (639) | ||||||
Net assets acquired | $ 39,138 | ||||||
Halp | |||||||
Amounts recognised as of acquisition date for each major class of assets acquired and liabilities assumed [abstract] | |||||||
Cash and cash equivalents | $ 664 | ||||||
Trade receivables | 36 | ||||||
Prepaid expenses and other current assets | 22 | ||||||
Deferred tax assets | 475 | ||||||
Intangible assets | 5,350 | ||||||
Goodwill | 12,322 | ||||||
Deferred revenue | (50) | ||||||
Deferred tax liabilities | (1,237) | ||||||
Net assets acquired | $ 17,582 |
Business Combinations - Identif
Business Combinations - Identifiable intangible assets (Details) - USD ($) $ in Thousands | Jul. 24, 2020 | May 11, 2020 | Oct. 15, 2019 |
Mindville AB | |||
Disclosure of detailed information about business combination [line items] | |||
Intangible assets | $ 9,600 | ||
Mindville AB | Developed technology | |||
Disclosure of detailed information about business combination [line items] | |||
Useful lives of intangible assets (in years) | 5 years | ||
Mindville AB | Customer relationships | |||
Disclosure of detailed information about business combination [line items] | |||
Useful lives of intangible assets (in years) | 5 years | ||
Mindville AB | At fair value | |||
Disclosure of detailed information about business combination [line items] | |||
Intangible assets | $ 9,600 | ||
Mindville AB | At fair value | Developed technology | |||
Disclosure of detailed information about business combination [line items] | |||
Intangible assets | 8,200 | ||
Mindville AB | At fair value | Customer relationships | |||
Disclosure of detailed information about business combination [line items] | |||
Intangible assets | $ 1,400 | ||
Code Barrel | |||
Disclosure of detailed information about business combination [line items] | |||
Intangible assets | $ 15,900 | ||
Code Barrel | Developed technology | |||
Disclosure of detailed information about business combination [line items] | |||
Useful lives of intangible assets (in years) | 4 years | ||
Code Barrel | Customer relationships | |||
Disclosure of detailed information about business combination [line items] | |||
Useful lives of intangible assets (in years) | 3 years | ||
Code Barrel | Trade name | |||
Disclosure of detailed information about business combination [line items] | |||
Useful lives of intangible assets (in years) | 1 year | ||
Code Barrel | At fair value | |||
Disclosure of detailed information about business combination [line items] | |||
Intangible assets | $ 15,900 | ||
Code Barrel | At fair value | Developed technology | |||
Disclosure of detailed information about business combination [line items] | |||
Intangible assets | 13,700 | ||
Code Barrel | At fair value | Customer relationships | |||
Disclosure of detailed information about business combination [line items] | |||
Intangible assets | 1,800 | ||
Code Barrel | At fair value | Trade name | |||
Disclosure of detailed information about business combination [line items] | |||
Intangible assets | $ 400 | ||
Halp | |||
Disclosure of detailed information about business combination [line items] | |||
Intangible assets | $ 5,350 | ||
Halp | Developed technology | |||
Disclosure of detailed information about business combination [line items] | |||
Useful lives of intangible assets (in years) | 6 years | ||
Halp | Customer relationships | |||
Disclosure of detailed information about business combination [line items] | |||
Useful lives of intangible assets (in years) | 6 years | ||
Halp | Trade name | |||
Disclosure of detailed information about business combination [line items] | |||
Useful lives of intangible assets (in years) | 1 year | ||
Halp | At fair value | |||
Disclosure of detailed information about business combination [line items] | |||
Intangible assets | $ 5,350 | ||
Halp | At fair value | Developed technology | |||
Disclosure of detailed information about business combination [line items] | |||
Intangible assets | 4,400 | ||
Halp | At fair value | Customer relationships | |||
Disclosure of detailed information about business combination [line items] | |||
Intangible assets | 850 | ||
Halp | At fair value | Trade name | |||
Disclosure of detailed information about business combination [line items] | |||
Intangible assets | $ 100 |
Other Balance Sheet Accounts -
Other Balance Sheet Accounts - Cash and cash equivalents (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2019 |
Disclosure of financial assets [line items] | ||||
Cash and bank deposits | $ 820,959 | $ 739,042 | ||
Amounts due from third-party credit card processors | 9,059 | 5,272 | ||
Total cash and cash equivalents | 1,385,265 | 919,227 | $ 1,479,969 | $ 1,268,441 |
Money market funds | ||||
Disclosure of financial assets [line items] | ||||
Short-term investments, classified as cash equivalents | 555,247 | 20,966 | ||
Commercial paper | ||||
Disclosure of financial assets [line items] | ||||
Short-term investments, classified as cash equivalents | 0 | 149,347 | ||
Agency securities | ||||
Disclosure of financial assets [line items] | ||||
Short-term investments, classified as cash equivalents | $ 0 | $ 4,600 |
Other Balance Sheet Accounts _2
Other Balance Sheet Accounts - Prepaid expenses and other current assets (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Jun. 30, 2021 |
Subclassifications of assets, liabilities and equities [abstract] | ||
Prepaid expenses | $ 40,384 | $ 33,923 |
Deferred commission | 8,806 | 3,226 |
Accrued interest income on short-term investments | 621 | 1,411 |
Other receivables | 3,746 | 6,149 |
Other current assets | 4,520 | 3,613 |
Total prepaid expenses and other current assets | $ 58,077 | $ 48,322 |
Other Balance Sheet Accounts _3
Other Balance Sheet Accounts - Held for sale current assets (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2019 |
Disclosure of financial assets [line items] | ||||
Cash and cash equivalents | $ 1,385,265 | $ 919,227 | $ 1,479,969 | $ 1,268,441 |
Property and equipment, net | 98,554 | 66,221 | ||
Non-current assets held for sale | ||||
Disclosure of financial assets [line items] | ||||
Cash and cash equivalents | 2,701 | 9,317 | ||
Property and equipment, net | $ 57,482 | $ 34,092 |
Other Balance Sheet Accounts _4
Other Balance Sheet Accounts - Carrying Amounts of Property and Equipment, Net (Details) $ in Thousands | 12 Months Ended |
Jun. 30, 2022 USD ($) | |
Reconciliation of changes in property, plant and equipment [abstract] | |
Opening balance | $ 66,221 |
Closing balance | 98,554 |
Non-current assets held for sale | |
Reconciliation of changes in property, plant and equipment [abstract] | |
Opening balance | 34,092 |
Additions | 26,899 |
Effect of change in exchange rates | (3,509) |
Closing balance | $ 57,482 |
Other Balance Sheet Accounts _5
Other Balance Sheet Accounts - Other non-current assets (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Jun. 30, 2021 |
Subclassifications of assets, liabilities and equities [abstract] | ||
Security deposits | $ 948 | $ 4,267 |
Restricted cash | 1,422 | 11,795 |
Derivative assets | 30,367 | 3,147 |
Deferred commission | 18,335 | 5,785 |
Other | 9,668 | 12,642 |
Total other non-current assets | $ 60,740 | $ 37,636 |
Other Balance Sheet Accounts _6
Other Balance Sheet Accounts - Narrative (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Jun. 30, 2021 |
Disclosure of financial assets [line items] | ||
Security deposits | $ 948 | $ 4,267 |
Other payables | $ 5,598 | 5,468 |
Other non-current assets | ||
Disclosure of financial assets [line items] | ||
Security deposits | $ 2,600 |
Other Balance Sheet Accounts _7
Other Balance Sheet Accounts - Trade and other payables (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Jun. 30, 2021 |
Subclassifications of assets, liabilities and equities [abstract] | ||
Trade payables | $ 67,355 | $ 40,366 |
Accrued expenses | 161,599 | 101,940 |
Accrued bonus | 126,687 | 91,894 |
Value-added tax payables | 14,887 | 10,152 |
Current portion of contingent consideration | 1,500 | 6,896 |
Customer deposits | 9,718 | 8,832 |
Liabilities held for sale | 17,564 | 949 |
Other payables | 5,598 | 5,468 |
Trade and other payables | $ 404,908 | $ 266,497 |
Other Balance Sheet Accounts _8
Other Balance Sheet Accounts - Provisions (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Jun. 30, 2021 |
Current provisions: | ||
Employee benefits | $ 32,796 | $ 24,690 |
Dilapidation provision | 0 | 458 |
Total current provisions | 32,796 | 25,148 |
Non-current provisions: | ||
Employee benefits | 8,630 | 7,255 |
Dilapidation provision | 5,174 | 5,180 |
Total non-current provisions | $ 13,804 | $ 12,435 |
Revenue - Deferred Revenue (Det
Revenue - Deferred Revenue (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Disclosure Of Contract Liabilities [Line Items] | ||
Contract liabilities at beginning of period | $ 897,595 | $ 601,005 |
Additions | 3,087,967 | 2,385,722 |
Contract liabilities at end of period | 1,182,680 | 897,595 |
Subscription | ||
Disclosure Of Contract Liabilities [Line Items] | ||
Revenue recognized | (2,096,706) | (1,324,064) |
Maintenance | ||
Disclosure Of Contract Liabilities [Line Items] | ||
Revenue recognized | (495,077) | (522,971) |
Other revenue | ||
Disclosure Of Contract Liabilities [Line Items] | ||
Revenue recognized | $ (211,099) | $ (242,097) |
Revenue - Narrative (Details)
Revenue - Narrative (Details) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2022 USD ($) | Jun. 30, 2021 USD ($) | Jun. 30, 2020 USD ($) | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |||
Percentage of revenue that was included in contract liability balance at beginning of period | 0.29 | 0.27 | |
Transaction price allocated to remaining performance obligations | $ 1,300,000 | ||
Period to recognize transaction price allocated to remaining performance obligations (in months) | 12 months | ||
Revenue | $ 2,802,882 | $ 2,089,132 | $ 1,614,173 |
Under 12 months | |||
Disclosure of transaction price allocated to remaining performance obligations [line items] | |||
Percentage of transaction price allocated to remaining performance obligations | 84% | ||
Other | |||
Disclosure of transaction price allocated to remaining performance obligations [line items] | |||
Revenue | $ 211,099 | $ 242,097 | $ 213,368 |
Revenue - Disaggregated revenue
Revenue - Disaggregated revenue (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 | |
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | $ 2,802,882 | $ 2,089,132 | $ 1,614,173 |
Americas | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 1,408,868 | 1,028,481 | 802,499 |
United States | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 1,230,801 | 901,389 | 700,893 |
Other Americas | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 178,067 | 127,092 | 101,606 |
EMEA | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 1,077,338 | 826,445 | 633,735 |
United Kingdom | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 187,863 | 139,411 | 110,887 |
Other EMEA | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 889,475 | 687,034 | 522,848 |
Asia Pacific | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | $ 316,676 | $ 234,206 | $ 177,939 |
Revenue - Revenue By Deployment
Revenue - Revenue By Deployment Option (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 | |
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Total revenues | $ 2,802,882 | $ 2,089,132 | $ 1,614,173 |
Premier Support | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Total revenues | 21,000 | 20,000 | 21,100 |
Cloud | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Total revenues | 1,515,424 | 967,832 | 696,628 |
Data Center | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Total revenues | 560,319 | 336,273 | 213,678 |
Server | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Total revenues | 525,028 | 607,778 | 564,513 |
Marketplace and services | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Total revenues | $ 202,111 | $ 177,249 | $ 139,354 |
Revenue - Deferred Commission (
Revenue - Deferred Commission (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Disclosure of assets recognised from costs to obtain or fulfil contracts with customers [line items] | ||
Estimated period of benefit | 4 years | |
Length of renewal contract | 1 year | |
Impairments of deferred commission | $ 0 | $ 0 |
Changes In Balance Of Deferred Commission [Roll Forward] | ||
Balance, beginning of period | 9,011 | 4,495 |
Additions | 24,302 | 7,450 |
Amortization expense | (6,172) | (2,934) |
Balance, end of period | 27,141 | 9,011 |
Deferred commission included in prepaid expenses and other current assets | 8,806 | 3,226 |
Deferred commission included in other non-current assets | $ 18,335 | $ 5,785 |
Debt - Narrative (Details)
Debt - Narrative (Details) $ / shares in Units, $ in Thousands | 1 Months Ended | 12 Months Ended | ||||||
Oct. 31, 2023 | Oct. 31, 2020 USD ($) | May 31, 2018 USD ($) $ / shares | Jun. 30, 2022 USD ($) | Jun. 30, 2021 USD ($) | Jun. 30, 2020 USD ($) | Jun. 30, 2018 USD ($) | Apr. 30, 2018 USD ($) | |
Disclosure of detailed information about borrowings [line items] | ||||||||
Debt instruments issued | $ 1,000,000 | |||||||
Borrowings, consideration transferred | $ 1,800,000 | |||||||
Borrowings, exchange requests settled | 4,700 | |||||||
Borrowings, exchange request settled, consideration transferred | 12,800 | |||||||
Proceeds from settlement of capped call transactions | $ 135,497 | 203,093 | $ 0 | |||||
Repayment of exchangeable senior notes | $ (1,548,686) | (1,803,244) | (2) | |||||
Maximum leverage ratio | 3.5 | |||||||
Leverage ration annual increase | 4.5 | |||||||
Proceeds from borrowings | $ 1,000,000 | 0 | $ 0 | |||||
Initial Notes | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Debt instruments issued | $ 1,000,000 | |||||||
Exchangeable Notes, net | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Debt instruments issued | 0 | 348,799 | ||||||
Debt interest rate | 0.625% | |||||||
Proceeds from issuance of exchangeable senior notes, net of discount and issuance costs | $ 990,000 | |||||||
Borrowings, principal amount repurchased | 643,200 | |||||||
Proceeds from settlement of capped call transactions | 135,500 | |||||||
Principal amount settled | 352,200 | |||||||
Repayment of exchangeable senior notes | (1,500,000) | |||||||
Contractual interest expense | 0 | 4,859 | ||||||
Exchangeable Notes, net | Principal amount | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Debt instruments issued | 0 | 352,171 | $ 1,000,000 | |||||
Exchangeable Notes, net | 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 Notes, net | 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 | 124,200 | |||||||
Exchangeable Notes, net | Level 2 | At fair value | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Fair Value | 1,151,000 | |||||||
Term Loan Facility Due October 2025 | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Borrowings | $ 1,000,000 | 999,419 | ||||||
Proceeds from borrowings | 1,000,000 | |||||||
Term Loan Facility Due October 2025 | Principal amount | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Borrowings | 1,000,000 | |||||||
Revolving Credit Facility Due October 2025 | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Borrowing facilities, maximum borrowing capacity | 500,000 | 500,000 | ||||||
Borrowings, additional capacity | $ 250,000 | |||||||
Revolving Credit Facility Due October 2025 | Forecast | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Repayment obligation amount (as a percentage) | 1.25% | |||||||
Credit Facility Due October 2025 | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Borrowing facilities, maximum borrowing capacity | $ 1,500,000 | |||||||
Contractual interest expense | $ 11,600 | |||||||
Credit Facility Due October 2025 | Top of range | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Undrawn amounts, interest rate | 0.0020 | |||||||
Credit Facility Due October 2025 | Top of range | Base rate | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Borrowings, adjustment to interest rate basis | 0.50% | |||||||
Credit Facility Due October 2025 | Top of range | London Interbank Offered Rate LIBOR | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Borrowings, adjustment to interest rate basis | 1.50% | |||||||
Credit Facility Due October 2025 | Bottom of range | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Undrawn amounts, interest rate | 0.00075 | |||||||
Credit Facility Due October 2025 | Bottom of range | London Interbank Offered Rate LIBOR | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Borrowings, adjustment to interest rate basis | 0.875% |
Debt - Principal amount, discou
Debt - Principal amount, discount and interest rate (Details) - USD ($) $ in Thousands | 12 Months Ended | ||||
Jun. 30, 2022 | Jun. 30, 2021 | Oct. 31, 2020 | Jun. 30, 2018 | Apr. 30, 2018 | |
Disclosure of detailed information about borrowings [line items] | |||||
Debt instruments issued | $ 1,000,000 | ||||
Exchangeable Notes, net | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Debt instruments issued | $ 0 | $ 348,799 | |||
Effective interest rate | 4.83% | 4.83% | |||
Contractual interest expense | $ 0 | $ 4,859 | |||
Amortization of debt discount | 3,224 | 102,673 | |||
Amortization of issuance cost | 148 | 4,703 | |||
Exchangeable Notes, net | Principal amount | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Debt instruments issued | 0 | 352,171 | $ 1,000,000 | ||
Exchangeable Notes, net | Unamortized debt discount | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Debt instruments issued | 0 | (3,224) | |||
Exchangeable Notes, net | Unamortized issuance cost | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Debt instruments issued | 0 | $ (148) | |||
Term Loan Facility Due October 2025 | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Borrowings | 999,419 | $ 1,000,000 | |||
Term Loan Facility Due October 2025 | Principal amount | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Borrowings | 1,000,000 | ||||
Term Loan Facility Due October 2025 | Unamortized issuance cost | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Borrowings | $ (581) |
Debt - Reconciliation of assets
Debt - Reconciliation of assets and liabilities arising from financing activities (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Capped call assets | ||
Changes in liabilities arising from financing activities [abstract] | ||
Beginning balance | $ (124,153) | $ (310,608) |
Cash flows | 135,497 | 203,093 |
Amortization of debt discount and issuance cost | 0 | 0 |
Fair value changes | (11,344) | (16,638) |
Accrual of interest | 0 | 0 |
Ending balance | 0 | (124,153) |
Exchangeable Notes, net | ||
Changes in liabilities arising from financing activities [abstract] | ||
Beginning balance | 348,799 | 889,183 |
Cash flows | (352,171) | (647,760) |
Amortization of debt discount and issuance cost | 3,372 | 107,376 |
Fair value changes | 0 | 0 |
Accrual of interest | 0 | 0 |
Ending balance | 0 | 348,799 |
Embedded exchange feature of Notes | ||
Changes in liabilities arising from financing activities [abstract] | ||
Beginning balance | 760,689 | 1,283,089 |
Cash flows | (1,196,515) | (1,155,484) |
Amortization of debt discount and issuance cost | 0 | 0 |
Fair value changes | 435,826 | 633,084 |
Accrual of interest | 0 | 0 |
Ending balance | 0 | 760,689 |
Term loan Facility | ||
Changes in liabilities arising from financing activities [abstract] | ||
Beginning balance | 0 | 0 |
Cash flows | 1,000,000 | 0 |
Amortization of debt discount and issuance cost | 160 | 0 |
Fair value changes | 0 | 0 |
Accrual of interest | (741) | 0 |
Ending balance | $ 999,419 | $ 0 |
Shareholders' Equity - Share ca
Shareholders' Equity - Share capital (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 |
Disclosure of classes of share capital [line items] | |||
Share capital | $ 25,485 | $ 25,164 | |
Class A Ordinary Shares | |||
Disclosure of classes of share capital [line items] | |||
Number of shares outstanding (in shares) | 144,819,265 | 137,037,518 | 127,685,599 |
Share capital | $ 14,481 | $ 13,703 | $ 12,768 |
Class B Ordinary Shares | |||
Disclosure of classes of share capital [line items] | |||
Number of shares outstanding (in shares) | 110,035,649 | 114,609,645 | 119,761,681 |
Share capital | $ 11,004 | $ 11,461 | $ 11,976 |
Ordinary shares | |||
Disclosure of classes of share capital [line items] | |||
Number of shares outstanding (in shares) | 254,854,914 | 251,647,163 | |
Share capital | $ 25,485 | $ 25,164 |
Shareholders' Equity - Movement
Shareholders' Equity - Movement in ordinary share capital (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 | |
Amount | |||
Beginning balance | $ 25,164 | ||
Issuance for settlement of RSUs | 0 | $ 0 | $ 0 |
Vesting of early exercised shares | 0 | 0 | $ 32 |
Ending balance | $ 25,485 | $ 25,164 | |
Class A Ordinary Shares | |||
Number of Shares | |||
Beginning balance (shares) | 137,037,518 | 127,685,599 | |
Conversion of ordinary shares (shares) | 4,573,996 | 5,152,036 | |
Exercise of share options (shares) | 42,973 | 390,802 | |
Issuance for settlement of RSUs (shares) | 2,958,190 | 3,468,136 | |
Vesting of early exercised shares (shares) | 206,588 | 340,945 | |
Ending balance (shares) | 144,819,265 | 137,037,518 | 127,685,599 |
Amount | |||
Beginning balance | $ 13,703 | $ 12,768 | |
Conversion of ordinary shares | 457 | 515 | |
Exercise of share options | 4 | 39 | |
Issuance for settlement of RSUs | 296 | 347 | |
Vesting of early exercised shares | 21 | 34 | |
Ending balance | $ 14,481 | $ 13,703 | $ 12,768 |
Class B Ordinary Shares | |||
Number of Shares | |||
Beginning balance (shares) | 114,609,645 | 119,761,681 | |
Conversion of ordinary shares (shares) | (4,573,996) | (5,152,036) | |
Ending balance (shares) | 110,035,649 | 114,609,645 | 119,761,681 |
Amount | |||
Beginning balance | $ 11,461 | $ 11,976 | |
Conversion of ordinary shares | (457) | (515) | |
Ending balance | $ 11,004 | $ 11,461 | $ 11,976 |
Shareholders' Equity - Narrativ
Shareholders' Equity - Narrative (Details) $ / shares in Units, $ in Thousands | 12 Months Ended | ||||
Jun. 30, 2022 USD ($) vote $ / shares shares | Jul. 01, 2021 USD ($) | Jun. 30, 2021 USD ($) shares | Jun. 30, 2020 USD ($) | Jun. 30, 2019 USD ($) | |
Disclosure of classes of share capital [line items] | |||||
Capital reserves | $ 335,603 | $ 293,170 | $ 294,914 | $ 575,306 | $ 565,467 |
RSUs | |||||
Disclosure of classes of share capital [line items] | |||||
Number of shares outstanding subject to forfeiture or repurchase (in shares) | shares | 72,484 | 270,251 | |||
Merger reserve | |||||
Disclosure of classes of share capital [line items] | |||||
Capital reserves | $ 35,000 | $ 35,000 | 35,000 | ||
Capital redemption reserve | |||||
Disclosure of classes of share capital [line items] | |||||
Capital reserves | 98 | 98 | 98 | ||
Capital redemption and merger reserves | |||||
Disclosure of classes of share capital [line items] | |||||
Capital reserves | $ 34,900 | $ 34,900 | $ 34,900 | ||
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% | ||||
Optional conversion, percentage of conversion consent (more than 66.66%) | 66.66% | ||||
Ordinary stock, voting rights per share | vote | 10 | ||||
Class A Ordinary Shares | |||||
Disclosure of classes of share capital [line items] | |||||
Shares issued upon conversion (shares) | shares | 1 | ||||
Ordinary stock, voting rights per share | vote | 1 |
Shareholders' Equity - Other ca
Shareholders' Equity - Other capital reserves (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Jun. 30, 2021 |
Disclosure of classes of share capital [abstract] | ||
Capital redemption reserve | $ 98 | $ 98 |
Merger reserve | 34,943 | 34,943 |
Share-based payments reserve | 2,188,779 | 1,481,568 |
Other capital reserves | $ 2,223,820 | $ 1,516,609 |
Earnings Per Share (Details)
Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 | |
Numerator: | |||
Net loss attributable to ordinary shareholders | $ (614,124) | $ (696,315) | $ (350,654) |
Denominator: | |||
Weighted-average ordinary shares outstanding—basic (shares) | 253,312,000 | 249,679,000 | 244,844,000 |
Weighted-average ordinary shares outstanding—diluted (shares) | 253,312,000 | 249,679,000 | 244,844,000 |
Net loss per share attributable to ordinary shareholders: | |||
Basic loss per share (USD per share) | $ (2.42) | $ (2.79) | $ (1.43) |
Diluted loss per share (USD per share) | $ (2.42) | $ (2.79) | $ (1.43) |
Potentially anti-dilutive shares excluded from computation of net loss per share (shares) | 4,800,000 | 5,000,000 | 6,800,000 |
Commitments - Narrative (Detail
Commitments - Narrative (Details) | 12 Months Ended |
Jun. 30, 2022 | |
Bottom of range | |
Disclosure of finance lease and operating lease by lessee1 [Line Items] | |
Term of contract (in years) | 1 year |
Top of range | |
Disclosure of finance lease and operating lease by lessee1 [Line Items] | |
Term of contract (in years) | 5 years |
Commitments - Schedule of commi
Commitments - Schedule of commitments for purchase obligations (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Jun. 30, 2021 |
Disclosure of finance lease and operating lease by lessee [Line Items] | ||
Total commitments | $ 1,109,053 | $ 213,991 |
Capital purchase obligations | ||
Disclosure of finance lease and operating lease by lessee [Line Items] | ||
Total commitments | 9,028 | 11,076 |
Other purchase obligations | ||
Disclosure of finance lease and operating lease by lessee [Line Items] | ||
Total commitments | 143,907 | 114,060 |
Obligations for leases that have not yet commenced | ||
Disclosure of finance lease and operating lease by lessee [Line Items] | ||
Total commitments | $ 956,118 | $ 88,855 |
Commitments - Schedule of other
Commitments - Schedule of other contractual commitments (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Jun. 30, 2021 |
Disclosure of finance lease and operating lease by lessee [Line Items] | ||
Total commitments | $ 1,109,053 | $ 213,991 |
Less than 1 year | ||
Disclosure of finance lease and operating lease by lessee [Line Items] | ||
Total commitments | 107,875 | |
Year ending 2024 - 2025 | ||
Disclosure of finance lease and operating lease by lessee [Line Items] | ||
Total commitments | 35,816 | |
Year ending 2026 - 2027 | ||
Disclosure of finance lease and operating lease by lessee [Line Items] | ||
Total commitments | 45,056 | |
Thereafter | ||
Disclosure of finance lease and operating lease by lessee [Line Items] | ||
Total commitments | 920,306 | |
Capital purchase obligations | ||
Disclosure of finance lease and operating lease by lessee [Line Items] | ||
Total commitments | 9,028 | 11,076 |
Capital purchase obligations | Less than 1 year | ||
Disclosure of finance lease and operating lease by lessee [Line Items] | ||
Total commitments | 9,028 | |
Capital purchase obligations | Year ending 2024 - 2025 | ||
Disclosure of finance lease and operating lease by lessee [Line Items] | ||
Total commitments | 0 | |
Capital purchase obligations | Year ending 2026 - 2027 | ||
Disclosure of finance lease and operating lease by lessee [Line Items] | ||
Total commitments | 0 | |
Capital purchase obligations | Thereafter | ||
Disclosure of finance lease and operating lease by lessee [Line Items] | ||
Total commitments | 0 | |
Other purchase obligations | ||
Disclosure of finance lease and operating lease by lessee [Line Items] | ||
Total commitments | 143,907 | 114,060 |
Other purchase obligations | Less than 1 year | ||
Disclosure of finance lease and operating lease by lessee [Line Items] | ||
Total commitments | 98,847 | |
Other purchase obligations | Year ending 2024 - 2025 | ||
Disclosure of finance lease and operating lease by lessee [Line Items] | ||
Total commitments | 35,816 | |
Other purchase obligations | Year ending 2026 - 2027 | ||
Disclosure of finance lease and operating lease by lessee [Line Items] | ||
Total commitments | 9,244 | |
Other purchase obligations | Thereafter | ||
Disclosure of finance lease and operating lease by lessee [Line Items] | ||
Total commitments | 0 | |
Obligations for leases that have not yet commenced | ||
Disclosure of finance lease and operating lease by lessee [Line Items] | ||
Total commitments | 956,118 | $ 88,855 |
Obligations for leases that have not yet commenced | Less than 1 year | ||
Disclosure of finance lease and operating lease by lessee [Line Items] | ||
Total commitments | 0 | |
Obligations for leases that have not yet commenced | Year ending 2024 - 2025 | ||
Disclosure of finance lease and operating lease by lessee [Line Items] | ||
Total commitments | 0 | |
Obligations for leases that have not yet commenced | Year ending 2026 - 2027 | ||
Disclosure of finance lease and operating lease by lessee [Line Items] | ||
Total commitments | 35,812 | |
Obligations for leases that have not yet commenced | Thereafter | ||
Disclosure of finance lease and operating lease by lessee [Line Items] | ||
Total commitments | $ 920,306 |
Related Party Transactions (Det
Related Party Transactions (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 | |
Executive management: | |||
Disclosure of transactions between related parties [line items] | |||
Short-term compensation and benefits | $ 4,986 | $ 3,303 | $ 3,334 |
Post-employment benefits | 81 | 71 | 68 |
Share-based payments | 58,531 | 12,053 | 15,509 |
Key management personnel compensation | 63,598 | 15,427 | 18,911 |
Board of directors: | |||
Disclosure of transactions between related parties [line items] | |||
Cash remuneration | 585 | 480 | 455 |
Share-based payments | 2,040 | 1,780 | 1,741 |
Key management personnel compensation | $ 2,625 | $ 2,260 | $ 2,196 |
Geographic Information (Details
Geographic Information (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Jun. 30, 2021 |
Disclosure of geographical areas [line items] | ||
Non-current operating assets: | $ 1,201,045 | $ 1,110,132 |
United States | ||
Disclosure of geographical areas [line items] | ||
Non-current operating assets: | 1,066,260 | 1,002,992 |
Australia | ||
Disclosure of geographical areas [line items] | ||
Non-current operating assets: | 127,418 | 107,015 |
India | ||
Disclosure of geographical areas [line items] | ||
Non-current operating assets: | $ 7,367 | $ 125 |
Share-based Payments - Narrativ
Share-based Payments - Narrative (Details) $ / shares in Units, $ in Millions | 12 Months Ended | |
Jun. 30, 2022 USD ($) shares year plan $ / shares | Jun. 30, 2021 shares $ / shares | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Number of share-based employee compensation plans | plan | 3 | |
Weighted average remaining contractual life of outstanding share options (in years) | 2 years 9 months 18 days | 3 years 10 months 24 days |
Weighted-average remaining contractual live of options exercisable (in years) | 2.72 | 3.92 |
Share options granted (shares) | 0 | 0 |
Vesting period (in years) | 4 years | |
Future period share-based payment expense | $ | $ 675.8 | |
Weighted-average remaining period for recognition of future share-based payment expense (in years) | 1 year 6 months | |
RSUs | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Award vesting period (in years) | 4 years | |
Weighted-average grant date fair value of awards granted (USD per share) | $ / shares | $ 332.4 | $ 192.6 |
Number of shares issued subject to forfeiture | 8,821 | 95,499 |
Weighted average grant date fair value of shares issued subject to forfeiture (USD per share) | $ / shares | $ 313.8 | $ 200.5 |
Vesting period (in years) | 3 years | 1 year 8 months 12 days |
Number of shares outstanding subject to forfeiture or repurchase (in shares) | 72,484 | 270,251 |
RSUs | One year anniversary | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Award vesting rights, percentage | 0.25 | |
RSUs | Over three years | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Award vesting period (in years) | 3 years | |
Award vesting rights, percentage | 0.08333 | |
2015 Plan | Class A Ordinary Shares | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Number of shares reserved for issuance of awards | 20,700,000 | |
Options Plan | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Award vesting period (in years) | 4 years | |
Number of share options available for exercise | 0 | |
Exercisable period of options upon termination (in months) | 3 months | |
Options Plan | One year anniversary | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Award vesting rights, percentage | 0.25 | |
Options Plan | Thereafter | ||
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) | year | 7 | |
Options Plan | Top of range | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Expected term (in years) | year | 10 |
Share-based Payments - RSU and
Share-based Payments - RSU and Class A share option activity (Details) | 12 Months Ended | |
Jun. 30, 2022 shares $ / shares | Jun. 30, 2021 shares $ / shares | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Shares available for grant, beginning balance (shares) | 34,273,445 | 35,911,586 |
Share options outstanding, beginning balance (shares) | 67,372 | 458,174 |
RSUs outstanding, beginning balance (shares) | 5,541,748 | 7,371,743 |
Share options exercised (shares) | (42,973) | (390,802) |
Share options canceled (shares) | 0 | |
Shares available for grant, ending balance (shares) | 30,833,006 | 34,273,445 |
Share options outstanding, ending balance (shares) | 24,399 | 67,372 |
RSUs outstanding, ending balance (shares) | 6,023,997 | 5,541,748 |
Share options vested and exercisable (shares) | 24,399 | 67,372 |
Weighted Average Exercise Price | ||
Share options weighted average exercise price, beginning balance (USD per share) | $ / shares | $ 0.75 | $ 2.65 |
Share options exercised (USD per share) | $ / shares | 0.76 | 2.98 |
Share options canceled (USD per share) | $ / shares | ||
Share options weighted average exercise price, ending balance (USD per share) | $ / shares | 0.73 | 0.75 |
Weighted Average Exercise Price, share options vested and exercisable (USD per share) | $ / shares | $ 0.73 | $ 0.75 |
RSUs | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
RSUs granted (shares) | 4,093,600 | 2,415,324 |
RSUs canceled (shares) | (653,161) | (777,183) |
RSUs settled (shares) | (2,958,190) | (3,468,136) |
Share-based Payments - Share op
Share-based Payments - Share options outstanding by range of exercise prices (Details) | Jun. 30, 2022 shares $ / shares | Jun. 30, 2021 shares $ / shares | Jun. 30, 2020 shares $ / shares |
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | |||
Options outstanding, number (shares) | shares | 24,399 | 67,372 | 458,174 |
Options outstanding, weighted average exercise price (USD per share) | $ 0.73 | $ 0.75 | $ 2.65 |
Options exercisable, number (shares) | shares | 24,399 | 67,372 | |
Options exercisable, weighted average exercise price (USD per share) | $ 0.73 | $ 0.75 | |
Options exercisable, weighted average remaining years (in years) | 2.72 | 3.92 | |
$0.59 - 0.66 | |||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | |||
Options outstanding, number (shares) | shares | 21,997 | 53,037 | |
Options outstanding, weighted average exercise price (USD per share) | $ 0.62 | ||
Options exercisable, number (shares) | shares | 21,997 | 53,037 | |
Options exercisable, weighted average exercise price (USD per share) | $ 0.61 | ||
Options exercisable, weighted average remaining years (in years) | 2.66 | 3.64 | |
$0.59 - 0.66 | Bottom of range | |||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | |||
Options outstanding, exercise price (USD per share) | $ 0.59 | $ 0.59 | |
$0.59 - 0.66 | Top of range | |||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | |||
Options outstanding, exercise price (USD per share) | 0.66 | 0.66 | |
1.14 | |||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | |||
Options outstanding, exercise price (USD per share) | $ 1.14 | $ 1.14 | |
Options outstanding, number (shares) | shares | 1,673 | 13,606 | |
Options outstanding, weighted average exercise price (USD per share) | $ 1.14 | ||
Options exercisable, number (shares) | shares | 1,673 | 13,606 | |
Options exercisable, weighted average exercise price (USD per share) | $ 1.14 | ||
Options exercisable, weighted average remaining years (in years) | 4.07 | 5.07 | |
$3.18 | |||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | |||
Options outstanding, exercise price (USD per share) | $ 3.18 | $ 3.18 | |
Options outstanding, number (shares) | shares | 729 | 729 | |
Options outstanding, weighted average exercise price (USD per share) | $ 3.18 | ||
Options exercisable, number (shares) | shares | 729 | 729 | |
Options exercisable, weighted average exercise price (USD per share) | $ 3.18 | ||
Options exercisable, weighted average remaining years (in years) | 1.33 | 2.33 |
Events after reporting period (
Events after reporting period (Details) | 1 Months Ended |
Jul. 31, 2022 | |
Disposal of major subsidiary | Vertical First Trust | |
Disclosure of non-adjusting events after reporting period [line items] | |
Minority interest maintained | 13.20% |