Company: TEAM
Filing Date: 2025-08-15
Form Type: 10-K
Source: 0001650372-25-000036
Chunk: 140

Company: Atlassian Corp
Filing Date: 2025-08-15
Form: 10-K
Item: Item 8
Chunk 140
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,615 Patents, trade names, and other rights70,928 (31,427)39,501 Customer relationships135,687 (103,746)31,941 Total Intangible Assets$676,367 $(377,310)$299,057 The weighted-average remaining useful lives of the Company’s acquired intangible assets as of June 30, 2025 are as follows:Weighted-Average Remaining Useful Lives (Years)Acquired developed technology5Patents, trade names, and other rights6Customer relationships3Amortization expense for intangible assets was approximately $55.5 million, $49.7 million, and $33.1 million for fiscal years 2025, 2024, and 2023, respectively.The following table presents the estimated future amortization expense related to intangible assets held as of June 30, 2025 (in thousands):Fiscal Years:2026$53,030 202747,861 202845,634 202940,128 203037,708 Thereafter20,479 Total future amortization expense$244,840 

8. Accrued Expenses and Other Current LiabilitiesAccrued expenses and other current liabilities consist of the following (in thousands):As of June 30, 20252024Accrued expenses$180,197 $149,046 Employee benefits422,986 332,518 Tax liabilities36,726 55,203 Customer deposits16,396 19,279 Other payables25,296 21,313 Total accrued expenses and other current liabilities$681,601 $577,359 

9. LeasesThe Company rents office space and equipment under non-cancelable operating leases with various expiration dates through fiscal year 2034. Certain lease agreements include varying terms, escalation clauses and renewal rights. The Company does not assume renewals in its determination of the lease term unless the renewals are deemed to be reasonably certain at lease commencement. The Company’s lease agreements generally do not contain any material residual value guarantees or material restrictive covenants.

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The components of lease costs and other information related to leases were as follows (in thousands): Fiscal Year Ended June 30, 202520242023Operating lease costs$43,720 $41,426 $50,134 Variable lease costs14,781 11,908 13,094 Total lease costs$58,501 $53