Company: TEAM
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001650372-25-000022
Chunk: 37

Company: Atlassian Corp
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 1
Chunk 37
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 Change% ChangeCloud$880,429 $703,036 $177,393 25 %Data Center388,516 364,134 24,382 7 Server— 29,720 (29,720)(100)Marketplace and other87,771 92,238 (4,467)(5)Total revenues$1,356,716 $1,189,128 $167,588 14 %

Total revenues by geography were as follows: Three Months Ended March 31,(in thousands, except percentage data)20252024$ Change% ChangeAmericas$637,316 $564,387 $72,929 13 %EMEA571,553 500,005 71,548 14 Asia Pacific147,847 124,736 23,111 19 Total revenues$1,356,716 $1,189,128 $167,588 14 %

Cost of Revenues  Three Months Ended March 31,(in thousands, except percentage data)20252024$ Change% ChangeCost of revenues$219,675$213,425$6,250 3 %Gross margin84 %82 %

Cost of revenues increased $6.3 million, or 3%, in the three months ended March 31, 2025 compared to the three months ended March 31, 2024. The overall increase was primarily attributable to an increase of $6.0 million in compensation expense for employees (which includes an increase of $3.1 million in stock-based compensation).

31

Operating Expenses

Research and Development Three Months Ended March 31,  (in thousands, except percentage data)20252024$ Change% ChangeResearch and development$685,320 $576,490 $108,830 19 %

Research and development expenses increased $108.8 million, or 19%, in the three months ended March 31, 2025 compared to the three months ended March 31, 2024. The overall increase was primarily attributable to an increase of $112.8 million in compensation expenses for employees (which includes an increase of $50.5 million in stock-based compensation).

Marketing and Sales Three Months Ended March 31,  (in thousands, except percentage data)20252024$ Change% ChangeMarketing and sales$295,832 223,814 $72,018 32 %

Marketing and sales