Company: TEAM
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001650372-25-000022
Chunk: 271

Company: Atlassian Corp
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 8
Chunk 271
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 customers. If we include single user accounts and organizations who have only adopted our free or starter products, the active use of our products extends well beyond our total customer base. Through the extensive use of our software, we are able to reach a vast number of users, gather insights to refine our offerings, and generate growing revenue by expanding within our total customer base. Customers with greater than $10,000 in Cloud ARR represent the majority of our Cloud revenue.

The following table sets forth our number of customers with greater than $10,000 in Cloud ARR as of the dates presented:

 As of March 31, 2024June 30, 2024September 30, 2024December 31, 2024March 31, 2025Number of customers with greater than $10,000 in Cloud ARR44,336 45,842 46,844 49,449 50,715 

Free Cash Flow

Free cash flow is a non-GAAP financial measure that we calculate as net cash provided by operating activities less net cash used in investing activities for capital expenditures. Management considers free cash flow to be a liquidity measure that provides useful information to management and investors about the amount of cash generated by our business that can be used to fund our commitments, repay our debt, and for strategic opportunities, such as reinvesting in our business, making strategic acquisitions, and strengthening our financial position. Free cash flow is not a measure calculated in accordance with GAAP and should not be considered in isolation from, or as a substitute for financial information prepared in accordance with GAAP, such as GAAP net cash provided by operating activities. In addition, free cash flow may not be comparable to similarly titled metrics of other companies due to differences among methods of calculation. The following table presents a reconciliation of net cash provided by operating activities to free cash flow for the periods presented (in thousands):

 Three Months Ended March 31,Nine Months Ended March 31, 2025202420252024Net cash provided by operating activities$652,681 $565,390 $1,085,078 $1,021,940 Less: Capital expenditures(14,366)(10,520)(29,853)(19,522)Free cash flow$638,315 $554,870 $1,055,225 $1,002,418 

Free cash flow increased by $83.4 million and $52.8 million during the three months and nine months ended March