Fri, Aug 16, 8:07 PM (151 days ago)
**Summary of Atlassian Corporation's 10-K Report for Fiscal Year Ending June 30, 2024** For the fiscal year 2024, Atlassian Corporation reported total revenues of $4,358,603,000, a 23% increase from the previous year, primarily driven by a 34% rise in subscription revenues to $3,924,389,000. Operating expenses rose to $3,672,185,000, leading to an operating loss of $117,077,000. The net loss for the year was $300,519,000, compared to a loss of $486,761,000 in FY 2023. Free cash flow increased significantly to $1,415,582,000, reflecting strong cash generation from operations. Atlassian's strategic focus remains on expanding its cloud offerings, with over 90% of revenues from existing customers. The company completed the acquisition of Loom, enhancing its product portfolio. The balance sheet shows cash and cash equivalents of $2.2 billion and total liabilities of $4.2 billion, including $985.9 million in senior notes. Key risks include intense market competition, reliance on subscription renewals, and the transition to cloud services. The company's dual-class stock structure concentrates voting power, potentially limiting shareholder influence on corporate decisions. Overall, Atlassian's financial condition remains robust, with a positive outlook driven by ongoing investments in R&D and customer expansion initiatives.