Company: TEAM
Filing Date: 2025-01-31
Form Type: 10-Q
Source: 0001650372-25-000009
Chunk: 284

Company: Atlassian Corp
Filing Date: 2025-01-31
Form: 10-Q
Item: Part I, Item 8
Chunk 284
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)Non-GAAP net income$255,627 $189,506 $455,327 $358,486 Net income per shareGAAP net loss per share - diluted$(0.15)$(0.33)$(0.62)$(0.45)Plus: Stock-based compensation1.43 1.12 2.53 2.03 Plus: Amortization of acquired intangible assets0.05 0.04 0.11 0.07 Less: Gain on a non-cash sale of a controlling interest of a subsidiary— — — (0.01)Adjustment for: Income tax (1)(0.37)(0.10)(0.29)(0.26)Non-GAAP net income per share - diluted$0.96 $0.73 $1.73 $1.38 Weighted-average diluted shares outstandingWeighted-average shares used in computing diluted GAAP net loss per share261,147 258,601 260,812 258,254 Plus: Dilution from dilutive securities (2)4,546 1,051 2,422 1,030 Weighted-average shares used in computing diluted non-GAAP net income per share265,693 259,652 263,234 259,284 Free cash flowGAAP net cash provided by operating activities$351,905 $289,594 $432,397 $456,550 Less: Capital expenditures(9,336)(5,333)(15,487)(9,002)Free cash flow$342,569 $284,261 $416,910 $447,548 

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(1) We utilize a fixed long-term projected non-GAAP tax rate in our computation of the non-GAAP income tax adjustments in order to provide better consistency across interim reporting periods. In projecting this long-term non-GAAP tax rate, we utilized a three-year financial projection that excludes the direct and indirect income tax effects of the other non-GAAP adjustments reflected above. Additionally, we considered our current operating structure and other factors such as our existing tax positions in various jurisdictions and key legislation in major jurisdictions where we operate. For fiscal year 2025 and 2024, we determined the projected non-GAAP tax rate to be 26% and 27%, respectively. This fixed long-term projected non-GAAP tax rate eliminates the effects of non-recurring and period