Company: TEAM
Filing Date: 2025-01-31
Form Type: 10-Q
Source: 0001650372-25-000009
Chunk: 362

Company: Atlassian Corp
Filing Date: 2025-01-31
Form: 10-Q
Item: Part I, Item 2
Chunk 362
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 and administrative$315,349 $300,654 $14,695 5 %

General and administrative expenses increased $14.7 million, or 5%, in the six months ended December 31, 2024 compared to the six months ended December 31, 2023. The overall increase was primarily attributable to an increase of $16.7 million in compensation expenses for employees (which includes an increase of $10.0 million in stock-based compensation).

Other Expense, net Six Months Ended December 31,  (in thousands, except percentage data)20242023$ Change% ChangeOther expense, net$(27,431)$(12,974)$(14,457)111 %

Other expense, net increased $14.5 million, or 111% in the six months ended December 31, 2024 compared to the six months ended December 31, 2023. The increase was primarily attributable to an increase of $8.5 million in expense related to our share of loss from an equity method investment and an increase of $3.8 million in contributions to the Atlassian Foundation.

Interest Income

Six Months Ended December 31,(in thousands, except percentage data)20242023$ Change% ChangeInterest Income$54,150 $47,819 $6,331 13 %

Interest income increased $6.3 million, or 13% in the six months ended December 31, 2024 compared to the six months ended December 31, 2023. The increase was primarily attributable to an increase in investment income as a result of increased investment balances.

34

Interest Expense Six Months Ended December 31,(in thousands, except percentage data)20242023$ Change% ChangeInterest expense$(14,609)$(17,977)$3,368 (19)%

Interest expense decreased $3.4 million, or 19%, in the six months ended December 31, 2024 compared to the six months ended December 31, 2023. The decrease was primarily attributable to a decrease in interest expense on our outstanding debt as a result of the issuance of the Notes (as defined below), and repayment of the Term Loan (as defined below) in the fourth quarter of fiscal year 2024.

Provision for (Benefit from) Income Taxes Six Months Ended December 31,  (in thousands, except percentage data)20242023$ Change% ChangeProvision for (benefit from)