Company: TEAM
Filing Date: 2025-01-31
Form Type: 10-Q
Source: 0001650372-25-000009
Chunk: 358

Company: Atlassian Corp
Filing Date: 2025-01-31
Form: 10-Q
Item: Part I, Item 2
Chunk 358
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 thousands, except percentage data)20242023$ Change% ChangeGeneral and administrative$168,708 157,344 $11,364 7 %

General and administrative expenses increased $11.4 million, or 7%, in the three months ended December 31, 2024 compared to the three months ended December 31, 2023. The overall increase was primarily attributable to an increase of $13.6 million in compensation expense for employees (which includes an increase of $7.5 million in stock-based compensation). 

Other Expense, net Three Months Ended December 31,  (in thousands, except percentage data)20242023$ Change% ChangeOther expense, net$(7,999)$(4,639)$(3,360)72 %

Other expense, net increased $3.4 million, or 72%, in the three months ended December 31, 2024, compared to the three months ended December 31, 2023. The increase in other expense was primarily attributable to an increase of $2.0 million in contributions to the Atlassian Foundation, and an increase of $1.2 million in net loss related to strategic investments.

Interest Income

 Three Months Ended December 31,(in thousands, except percentage data)20242023$ Change% ChangeInterest income25,586 22,593 $2,993 13 %

Interest income increased $3.0 million, or 13% in the three months ended December 31, 2024 compared to the three months ended December 31, 2023. The increase was primarily attributable to an increase in investment income as a result of increased investment balances.

31

Interest Expense Three Months Ended December 31,(in thousands, except percentage data)20242023$ Change% ChangeInterest expense$(7,291)$(9,001)$1,710 (19)%

Interest expense decreased $1.7 million, or 19% in the three months ended December 31, 2024 compared to the three months ended December 31, 2023. The decrease was primarily attributable to a decrease in interest expense on our outstanding debt as a result of the issuance of the Notes (as defined below) and repayment of the Term Loan (as defined below) in the fourth quarter of fiscal year 2024.

Provision for (Benefit from) Income Taxes Three Months Ended December 31,  (in thousands, except percentage data)20242023