Company: TEAM
Filing Date: 2025-08-15
Form Type: 10-K
Source: 0001650372-25-000036
Chunk: 106

Company: Atlassian Corp
Filing Date: 2025-08-15
Form: 10-K
Item: Item 7
Chunk 106
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 of acquired intangible assets55,517 49,748 Non-GAAP operating income$1,287,347 $1,014,104 Operating marginGAAP operating margin(3)%(3)%Plus: Stock-based compensation2725Plus: Amortization of acquired intangible assets11Non-GAAP operating margin25%23%Net incomeGAAP net loss$(256,687)$(300,519)

 59 

Plus: Stock-based compensation1,362,222 1,081,433 Plus: Amortization of acquired intangible assets55,517 49,748 Less: Gain on a non-cash sale of a controlling interest of a subsidiary— (1,378)Less: Income tax adjustments (1)(185,107)(66,875)Non-GAAP net income$975,945 $762,409 Net income per shareGAAP net loss per share - diluted$(0.98)$(1.16)Plus: Stock-based compensation5.15 4.16 Plus: Amortization of acquired intangible assets0.20 0.19 Less: Gain on a non-cash sale of a controlling interest of a subsidiary— (0.01)Less: Income tax adjustments (1)(0.69)(0.25)Non-GAAP net income per share - diluted$3.68 $2.93 Weighted-average diluted shares outstandingWeighted-average shares used in computing diluted GAAP net loss per share261,787 259,133 Plus: Dilution from dilutive securities (2)3,407 1,076 Weighted-average shares used in computing diluted non-GAAP net income per share265,194 260,209 Free cash flowGAAP net cash provided by operating activities$1,460,393 $1,448,159 Less: Capital expenditures(44,850)(32,577)Free cash flow$1,415,543 $1,415,582 

(1) We utilize a fixed long-term projected non-GAAP tax rate in our computation of the non-GAAP income tax adjustments in order to provide better consistency across interim reporting periods. In projecting this long-term non-GAAP tax rate, we utilized a three-year financial projection that excludes the direct and indirect income tax effects of the other non-GAAP adjustments reflected above. Additionally, we considered our current operating structure and other factors such as our existing tax positions in various jurisdictions and key