Company: TEAM
Filing Date: 2025-01-31
Form Type: 10-Q
Source: 0001650372-25-000009
Chunk: 44

Company: Atlassian Corp
Filing Date: 2025-01-31
Form: 10-Q
Item: Part I, Item 1
Chunk 44
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,492)783 Net increase (decrease) in cash, cash equivalents, and restricted cash$40,517 $(642,152)

Our primary source of cash is through collections from our customers. Our primary uses of cash from operating activities are general business expenses including employment expenses, cloud platform and other infrastructure services, income taxes, professional services fees, marketing expenses, software expenses, and facility expenses.

Net cash provided by operating activities decreased by $24.2 million for the six months ended December 31, 2024, compared to the six months ended December 31, 2023. The net decrease was primarily attributable to an increase in cash paid to employees and vendors, partially offset by an increase in cash received from customers. 

Net cash used in investing activities decreased by $788.9 million during the six months ended December 31, 2024, compared to the six months ended December 31, 2023. The net decrease was primarily attributable to a decrease in cash consideration paid for acquisitions, net of cash acquired of approximately $839.8 million, partially offset by an increase in net outflows of $37.1 million related to strategic investment activity.

Net cash used in financing activities increased by $75.8 million for the six months ended December 31, 2024, compared to the six months ended December 31, 2023. The net increase was primarily attributable to an increase in repurchases of Class A Common Stock of $85.2 million.

Material Cash Requirements

Debt

As of December 31, 2024, we had $500.0 million aggregate principal amount of 5.250% senior notes due 2029 (the “2029 Notes”) and $500.0 million aggregate principal amount of 5.500% senior notes due 2034 (the “2034 Notes,” and together with the 2029 Notes, the “Notes”). The 2029 Notes and the 2034 Notes will mature on May 15, 2029 and May 15, 2034, respectively. Interest on the Notes will be paid semi-annually in arrears on May 15 and November 15 of each year, starting from November 15, 2024. 

In August 2024, our prior credit facility was amended and restated to provide for a $750 million senior unsecured revolving credit facility (the “2024 Credit Facility”). We may repay outstanding loans under the 2024 Credit Facility at any time