Company: TEAM
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001650372-25-000022
Chunk: 40

Company: Atlassian Corp
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 1
Chunk 40
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 we operate and is effective for our fiscal year 2025. As of March 31, 2025, the global minimum tax does not have a significant impact on our financial statements. As additional jurisdictions enact legislation, transitional rules lapse, and other provisions of the global minimum tax legislation become effective, our effective tax rate and cash tax payments may increase in future years.

33

Nine Months Ended March 31, 2025 and 2024

Revenues Nine Months Ended March 31,(in thousands, except percentage data)20252024$ Change% ChangeSubscription$3,618,072 $2,855,518 $762,554 27 %Other212,888 371,495 (158,607)(43)Total revenues$3,830,960 $3,227,013 $603,947 19 %

Total revenues increased $603.9 million, or 19%, in the nine months ended March 31, 2025 compared to the nine months ended March 31, 2024. Growth in total revenues was primarily attributable to increased demand for our products from existing customers. Of total revenues recognized in the nine months ended March 31, 2025, over 90% was attributable to sales to customer accounts existing on or before June 30, 2024.

Subscription revenues increased $762.6 million, or 27%, in the nine months ended March 31, 2025 compared to the nine months ended March 31, 2024. The increase in subscription revenues was primarily attributable to paid seat expansion from our existing customers, price increases, and migrations.

Other revenues decreased $158.6 million, or 43%, in the nine months ended March 31, 2025 compared to the nine months ended March 31, 2024. The decrease in other revenues was primarily attributable to a decrease of $169.5 million in maintenance revenue due to the end of support for our Server offerings.

Total revenues by deployment options were as follows: Nine Months Ended March 31,(in thousands, except percentage data)20252024$ Change% ChangeCloud$2,519,697 $1,960,893 $558,804 28 %Data Center1,086,391 881,835 204,556 23 Server— 177,645 (177,645)(100)Marketplace and other224,872 206,640 18,232 9 Total revenues