Company: TEAM
Filing Date: 2025-01-31
Form Type: 10-Q
Source: 0001650372-25-000009
Chunk: 361

Company: Atlassian Corp
Filing Date: 2025-01-31
Form: 10-Q
Item: Part I, Item 2
Chunk 361
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Asia Pacific275,829 230,625 45,204 20 Total revenues$2,474,244 $2,037,885 $436,359 21 %

Cost of Revenues  Six Months Ended December 31,(in thousands, except percentage data)20242023$ Change% ChangeCost of revenues$440,751$372,565$68,186 18 %Gross margin82 %82 %  

Cost of revenues increased $68.2 million, or 18%, 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 $33.6 million in hosting fees paid to third-party providers, an increase of $13.5 million in compensation expense for employees (which includes an increase of $5.2 million in stock-based compensation), and an increase of $7.4 million in amortization from acquired intangible assets.

33

Operating Expenses

Research and Development Six Months Ended December 31,  (in thousands, except percentage data)20242023$ Change% ChangeResearch and development$1,283,314 $1,018,517 $264,797 26 %

Research and development expenses increased $264.8 million, or 26%, 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 $239.0 million in compensation expenses for employees (which includes an increase of $115.5 million in stock-based compensation).

Marketing and Sales Six Months Ended December 31,  (in thousands, except percentage data)20242023$ Change% ChangeMarketing and sales$524,287 $414,080 $110,207 27 %

Marketing and sales expenses increased $110.2 million, or 27%, for 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 $67.9 million in compensation expenses for employees (which includes an increase of $8.8 million in stock-based compensation), and an increase of $30.4 million in advertising and marketing event expenses.

General and Administrative Six Months Ended December 31,  (in thousands, except percentage data)20242023$ Change% ChangeGeneral