Company: TEAM
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001650372-25-000022
Chunk: 16

Company: Atlassian Corp
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 1
Chunk 16
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 in interest expense(6,337)(7,506)(20,357)(22,571)Ending balance of accumulated gains (losses) in accumulated other comprehensive income (loss)$(7,030)$31,125 $(7,030)$31,125 

6. Property and EquipmentProperty and equipment, net consisted of the following (in thousands):March 31, 2025June 30, 2024Equipment$13,306 $11,200 Computer hardware and software52,157 40,824 Furniture and fittings24,756 25,172 Leasehold improvements and other152,277 137,944 Property and equipment, gross242,496 215,140 Less: accumulated depreciation and impairment(149,493)(128,825)Property and equipment, net$93,003 $86,315 

Depreciation expense was $9.3 million and $7.3 million for the three months ended March 31, 2025 and 2024, respectively and $27.5 million and $21.3 million for the nine months ended March 31, 2025 and 2024, respectively.

7. Goodwill and Intangible AssetsGoodwillGoodwill 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 are tested for impairment at least annually during the fourth quarter, or when indicators of impairment exist.Goodwill consisted of the following (in thousands): GoodwillBalance as of June 30, 2024$1,288,756 Additions3,700 Effect of change in exchange rates486 Balance as of March 31, 2025$1,292,942 During the first quarter of fiscal year 2025 the Company completed an acquisition to expand the Company’s product and service offerings. The transaction was accounted for as a business combination and was not significant to the condensed consolidated financial statements. 

15

On November 30, 2023, the Company acquired Loom, Inc. The fair values assigned to assets acquired and liabilities assumed have been finalized and there were no measurement period adjustments recorded during the nine months ended March 31, 2025. Intangible AssetsIntangible assets consisted of the following (in thousands):March 31, 2025June 30, 2024Weighted-Average Remaining Useful Lives (Years)Acquired developed