Company: TEAM
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001650372-25-000068
Chunk: 15

Company: Atlassian Corp
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 1
Chunk 15
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 of the Company’s Class A Common Stock, which are subject to continued vesting provisions. The Company is currently evaluating the purchase price allocation for this acquisition, which will be treated as a business combination. 

8. 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 tested for impairment at least annually during the fourth quarter, or when indicators of impairment exist.

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Goodwill consisted of the following (in thousands): GoodwillBalance as of June 30, 2025$1,304,445 Additions13,835 Effect of change in exchange rates(252)Balance as of September 30, 2025$1,318,028 Intangible AssetsIntangible assets consisted of the following as of September 30, 2025 (in thousands):Gross Carrying AmountAccumulated AmortizationNetAcquired developed technology$471,632 $(288,482)$183,150 Patents, trade names, and other rights70,928 (38,815)32,113 Customer relationships135,687 (115,060)20,627 Total Intangible Assets$678,247 $(442,357)$235,890 Intangible assets consisted of the following as of June 30, 2025 (in thousands):Gross Carrying AmountAccumulated AmortizationNetAcquired developed technology$466,932 $(278,525)$188,407 Patents, trade names, and other rights70,928 (37,337)33,591 Customer relationships135,687 (112,845)22,842 Total Intangible Assets$673,547 $(428,707)$244,840 The weighted-average remaining useful lives of the Company’s acquired intangible assets as of September 30, 2025 were as follows:Weighted-Average Remaining Useful Lives (Years)Acquired developed technology5Patents, trade names, and other rights6Customer relationships3Amortization expense for intangible assets was approximately $13.6 million and $13.9 million for the three months ended September 30, 2025, and 2024, respectively.The following table presents the estimated future amortization expense related to intangible assets held as of September 30, 2025 (in thousands):Fiscal Years:Remain