General and administrative

$ 4,358,603

$ 3,534,647

$ 2,802,882

Cost of revenues

^[1],[2]

803,495

633,765

452,914

Gross profit

3,555,108

2,900,882

2,349,968

Operating expenses:

Research and development

^[1],[2]

2,184,111

1,869,881

1,291,877

Marketing and sales

^[1],[2]

877,497

769,861

535,815

^[2]

610,577

606,362

452,193

Total operating expenses

3,672,185

3,246,104

2,279,885

Operating income (loss)

(117,077)

(345,222)

70,083

Other income (expense), net

(30,916)

14,501

(501,839)

Interest income

96,663

49,732

2,284

Interest expense

(34,077)

(30,147)

(41,466)

Loss before provision for income taxes

(85,407)

(311,136)

(470,938)

Provision for income taxes

(215,112)

(175,625)

(48,572)

Net loss

$ (300,519)

$ (486,761)

$ (519,510)

Net loss per share attributable to Class A and Class B common stockholders:

Basic (in dollars per share)

$ (1.16)

$ (1.90)

$ (2.05)

Diluted (in dollars per share)

$ (1.16)

$ (1.90)

$ (2.05)

Weighted-average shares used in computing net loss per share attributable to Class A and Class B common stockholders:

Basic (in shares)

259,133,000

256,307,000

253,312,000

Diluted (in shares)

259,133,000

256,307,000

253,312,000

Subscription

Revenues:

$ 3,924,389

$ 2,922,576

$ 2,096,706

Maintenance

Revenues:

177,230

399,738

495,077

Other

Revenues:

Summary of Significant Accounting Policies

$ 256,984

$ 212,333

$ 211,099

[1]

(2) Amounts include amortization of acquired intangible assets, as follows:


Cost of revenues	$	36,988	$	22,853	$	22,694
Research and development	374		374		374
Marketing and sales	12,386		9,900		9,330

[2]

(1) Amounts include stock-based compensation, as follows:


Cost of revenues	$	71,691	$	63,913	$	31,358
Research and development	712,409		604,301		328,978
Marketing and sales	137,347		131,739		76,209
General and administrative	159,986		148,134		88,258

CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Amortization expense for intangible assets	$ 49,700	$ 33,100	$ 32,400
Cost of revenues
Stock based compensation expense	71,691	63,913	31,358
Amortization expense for intangible assets	36,988	22,853	22,694
Research and development
Stock based compensation expense	712,409	604,301	328,978
Amortization expense for intangible assets	374	374	374
Marketing and sales
Stock based compensation expense	137,347	131,739	76,209
Amortization expense for intangible assets	12,386	9,900	9,330
General and administrative
Stock based compensation expense	$ 159,986	$ 148,134	$ 88,258

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Net loss	$ (300,519)	$ (486,761)	$ (519,510)
Other comprehensive income (loss), net of reclassification adjustments:
Foreign currency translation adjustment	(2,270)	(5,283)	(15,604)
Net change in unrealized gain (loss) on marketable and privately held debt securities	314	1,753	(3,458)
Net gain (loss) on cash flow hedging derivative instruments	(6,746)	23,668	27,438
Other comprehensive income (loss), before tax	(8,702)	20,138	8,376
Income tax effect	0	0	134
Other comprehensive income (loss), net of tax	(8,702)	20,138	8,510
Total comprehensive loss, net of tax	$ (309,221)	$ (466,623)	$ (511,000)

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($) $ in Thousands	Total	Class A	Class B	Common Stock Class A	Common Stock Class B	Additional paid in capital	Accumulated other comprehensive income	Accumulated Deficit
Shares, beginning balance (in shares) at Jun. 30, 2021				137,038,000	114,610,000
Beginning balance at Jun. 30, 2021	$ 313,262			$ 1	$ 1	$ 1,657,426	$ 5,354	$ (1,349,520)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued (in shares)				3,208,000
Common stock issued	32			$ 0		32
Conversion from class B common stock to class A common stock (in shares)				4,574,000	(4,574,000)
Stock-based compensation	525,078					525,078
Other comprehensive loss, net of tax	8,510						8,510
Net loss	(519,510)	$ (290,290)	$ (229,220)					(519,510)
Shares, ending balance (in shares) at Jun. 30, 2022				144,820,000	110,036,000
Ending balance at Jun. 30, 2022	327,372			$ 1	$ 1	2,182,536	13,864	(1,869,030)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued (in shares)				3,684,000
Common stock issued	9			$ 1		8
Conversion from class B common stock to class A common stock (in shares)				4,912,000	(4,912,000)
Stock-based compensation	948,087					948,087
Repurchased of Class A Common Stock (in shares)				(979,000)
Repurchases of Class A Common Stock	(154,173)							(154,173)
Other comprehensive loss, net of tax	20,138						20,138
Net loss	(486,761)	$ (283,907)	$ (202,854)					(486,761)
Shares, ending balance (in shares) at Jun. 30, 2023		152,442,673	105,124,103	152,437,000	105,124,000
Ending balance at Jun. 30, 2023	654,672			$ 2	$ 1	3,130,631	34,002	(2,509,964)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued (in shares)				5,000,000
Common stock issued	0			$ 0		0
Conversion from class B common stock to class A common stock (in shares)				4,112,000	(4,112,000)
Stock-based compensation	1,081,433					1,081,433
Repurchased of Class A Common Stock (in shares)				(2,161,000)
Repurchases of Class A Common Stock	(394,033)							(394,033)
Other comprehensive loss, net of tax	(8,702)						(8,702)
Net loss	(300,519)	$ (181,587)	$ (118,932)					(300,519)
Shares, ending balance (in shares) at Jun. 30, 2024		159,544,123	101,012,393	159,388,000	101,012,000
Ending balance at Jun. 30, 2024	$ 1,032,851			$ 2	$ 1	$ 4,212,064	$ 25,300	$ (3,204,516)

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities:
Net loss	$ (300,519)	$ (486,761)	$ (519,510)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	78,738	60,923	51,739
Stock-based compensation	1,081,433	948,087	524,803
Impairment charges for leases and leasehold improvements	0	61,098	0
Deferred income taxes	119	10,613	(2,002)
Gain on a non-cash sale of a controlling interest of a subsidiary	(1,378)	(45,158)	0
Amortization of interest rate swap contracts	(4,166)	0	0
Net loss on exchange derivative and capped call transactions	0	0	424,482
Amortization of debt discount and issuance cost	919	471	27,051
Net loss on strategic investments	13,337	19,407	72,663
Net foreign currency loss (gain)	2,301	(10,613)	(12,065)
Other	386	1,488	646
Changes in operating assets and liabilities, net of business combinations:
Accounts receivable, net	(148,469)	(169,526)	(134,764)
Prepaid expenses and other assets	(3,122)	(38,230)	(21,927)
Accounts payable	18,150	78,902	31,741
Accrued expenses and other liabilities	158,123	74,611	93,250
Deferred revenue	552,307	362,799	284,937
Net cash provided by operating activities	1,448,159	868,111	821,044
Cash flows from investing activities:
Business combinations, net of cash acquired	(847,767)	(5,775)	(19,411)
Purchases of intangible assets	(535)	(160)	(4,018)
Purchases of property and equipment	(32,577)	(25,652)	(70,583)
Purchases of strategic investments	(14,400)	(19,450)	(111,668)
Purchases of marketable securities	(248,897)	(24,800)	(21,003)
Proceeds from maturities of marketable securities	116,537	73,950	76,937
Proceeds from sales of marketable securities and strategic investments	63,893	629	186,262
Net cash provided by (used in) investing activities	(963,746)	(1,258)	36,516
Cash flows from financing activities:
Proceeds from Term Loan Facility	0	0	1,000,000
Repayment of Term Loan Facility	(1,000,000)	0
Proceeds from issuance of debt, net of issuance costs	987,039	0	0
Repayment of exchangeable senior notes	0	0	(1,548,686)
Proceeds from settlement of capped call transactions	0	0	135,497
Repurchases of Class A Common Stock	(395,256)	(150,006)	0
Proceeds from other financing arrangements	0	1,585	13,909
Net cash used in financing activities	(408,217)	(148,421)	(399,280)
Effect of foreign exchange rate changes on cash and cash equivalents	(1,989)	(1,805)	(9,233)
Net increase in cash, cash equivalents, and restricted cash	74,207	716,627	449,047
Cash, cash equivalents, and restricted cash at beginning of period	2,103,915	1,386,686	931,023
Net decrease in cash and cash equivalents included in assets held for sale	0	602	6,616
Cash, cash equivalents, and restricted cash at end of period	2,178,122	2,103,915	1,386,686
Reconciliation of cash, cash equivalents, and restricted cash within the consolidated balance sheets to the amounts shown in the consolidated statements of cash flows above:
Cash and cash equivalents	2,102,550	1,385,265
Restricted cash included in other non-current assets	1,192	1,365	1,421
Total cash, cash equivalents, and restricted cash	2,178,122	2,103,915	1,386,686
Supplemental disclosures of cash flow information:
Income taxes paid, net of refunds	253,828	102,156	66,648
Interest paid	61,339	46,247	10,027
Settlement of (received from) interest rate swap contracts	(65,734)	(17,754)	3,283
Non-cash investing and financing activities:
Purchase of property and equipment included in accrued expenses and other current liabilities	1,263	844	10,740
Repurchases of Class A Common Stock included in accrued expenses and other current liabilities	2,943	4,167	0
Debt issuance costs included in accrued expenses and other current liabilities	$ 1,344	$ 0	$ 0

Description of Business	12 Months Ended
Description of Business	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	1. Description of Business Atlassian Corporation (the “Company”) is a global technology company with a mission to unleash the potential of every team. Through a connected portfolio of products with discrete value propositions and built on the Atlassian platform and data model, Atlassian gives all teams the right teamwork foundations so they can plan and track work, align on goals, and unleash knowledge across the organization. Our primary products include Jira for planning and project management, Confluence for content creation and sharing, Jira Service Management for team service, management and support applications, and Loom, which we acquired in November 2023, for asynchronous video collaboration. The Company is the successor parent entity to Atlassian Corporation Plc, which was a public company limited by shares, incorporated under the laws of England and Wales. The Company’s fiscal year ends on June 30 of each year. References to fiscal year 2024, for example, refer to the fiscal year ended June 30, 2024. On September 30, 2022, Atlassian Corporation Plc completed a redomestication, which was approved by the shareholders of Atlassian Corporation Plc, resulting in Atlassian Corporation becoming our publicly traded parent company (the “U.S. Domestication”). Atlassian Corporation Plc’s stockholders and the High Court of Justice of England and Wales approved the scheme of arrangement effecting the U.S. Domestication. Effective after the close of market trading on September 30, 2022, all issued and outstanding ordinary shares of Atlassian Corporation Plc were exchanged on a one-for-one basis for newly issued shares of corresponding common stock of Atlassian Corporation, and all issued and outstanding equity awards of Atlassian Corporation Plc were assumed by Atlassian Corporation and were converted into rights to acquire Atlassian Corporation shares of Class A Common Stock on the same terms. The Class A Common Stock of Atlassian Corporation began trading on October 3, 2022 (the first trading day following the U.S. Domestication), and the Company’s trading symbol on The Nasdaq Global Select Market remained unchanged as “TEAM.”

Summary of Significant Accounting Policies

12 Months Ended

Jun. 30, 2024

Accounting Policies [Abstract]

2. Summary of Significant Accounting Policies

Basis of Preparation

The accompanying consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). These principles are established primarily by the Financial Accounting Standards Board (“FASB”).

Principles of Consolidation

The accompanying consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation.

Use of Estimates

The preparation of the consolidated financial statements in conformity with GAAP requires management to make certain estimates and assumptions in the Company’s consolidated financial statements. These estimates are based on information available as of the date of the consolidated financial statements. Such management estimates and assumptions include, but are not limited to the determination of:

•the standalone selling price (“SSP”) of performance obligations for revenue contracts with multiple performance obligations;

•the fair value of assets acquired and liabilities assumed for business combinations;

•the recognition, measurement and valuation of current and deferred income taxes and uncertain tax positions.

Actual results could differ materially from these estimates.

Segment

The Company operates as a single operating segment. An operating segment is defined as a component of an entity for which discrete financial information is available and whose results of operations are regularly reviewed

by the chief operating decision maker (“CODM”). The Company’s CODMs are its Co-Chief Executive Officers, who review its results of operations to make decisions about allocating resources and assessing performance based on consolidated financial information. Accordingly, the Company has determined it operates as a single operating and reportable segment.

Foreign Currency

The Company’s consolidated financial statements are presented using the U.S. dollar, which is its reporting currency. The functional currency for certain of the Company’s foreign subsidiaries is the U.S. dollar, while others use local currencies. The Company translates the foreign functional currency financial statements to U.S. dollars for those entities that do not have the U.S. dollar as their functional currency using the exchange rates at the balance sheet date for assets and liabilities, the period average exchange rates for revenues and expenses, and the historical exchange rates for equity transactions. The effects of foreign currency translation adjustments are recorded in accumulated other comprehensive income in the Consolidated Statements of Comprehensive Loss. Foreign currency transaction gains and losses are included in other income (expense), net on the Consolidated Statements of Operations.

Revenue from Contracts with Customers

Policies, Estimates and Judgments

Revenues are generally recognized upon the transfer of control of promised products or services provided to customers, reflecting the amount of consideration the Company expects to receive for those products or services. The Company enters into contracts that can include various combinations of products and services, which are generally capable of being distinct and accounted for as separate performance obligations. Revenue is recognized net of sales and other similar taxes collected from customers, which are subsequently remitted to governmental authorities.

Revenues are recognized upon the application of the following steps:

1.Identification of the contract or contracts with a customer;

2.Identification of the performance obligations in the contract;

3.Determination of the transaction price;

4.Allocation of the transaction price to the performance obligations in the contract; and

5.Recognition of revenue when, or as, the performance obligation is satisfied.

The timing of revenue recognition may differ from the timing of billing to our customers. The Company receives payments from customers based on a billing schedule as established in its contracts. Contract assets are recognized when performance is completed in advance of billings. Deferred revenue is recorded when billings are in advance of performance under the contract. The Company’s revenue arrangements include standard warranty provisions that the products and services will perform and operate in all material respects with the applicable published specifications, the financial impacts of which have historically been and are expected to continue to be insignificant. The Company’s contracts do not include a significant financing component.

Customer contracts often include promises to transfer multiple products and services to a customer.

The Company allocates the transaction price for each customer contract to each performance obligation based on the relative SSP for each distinct performance obligation. Judgment is required in determining the SSP for each distinct performance obligation. The Company typically determines an SSP range for its products and services, which is reassessed on a periodic basis or when facts and circumstances change. In most cases, the Company is able to determine SSP based on the observable prices of products or services sold separately. In instances where performance obligations do not have observable standalone sales, the Company utilizes available information that may include market conditions, pricing strategies, the life of the software, and other observable inputs to estimate the price that it would charge if the products and services were sold separately.

Recognition of Revenue

Revenue recognized from contracts with customers is disaggregated into categories that depict how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors. The Company reports revenues in three categories: (i) subscription, (ii) maintenance, and (iii) other. In addition, revenue is presented by geographic region and deployment option in Note 13, “Revenue.”

Subscription Revenues

Subscription revenues consist primarily of fees earned from subscription-based arrangements for providing customers the right to use the Company’s software in a cloud-based-infrastructure that the Company provides (“Cloud offerings”). The Company also sells on-premises term license agreements for its Data Center products (“Data Center offerings”), consisting of software licensed for a specified period and support and maintenance services that are bundled with the license for the term of the license period. Subscription revenues are driven primarily by the number and size of active licenses, the type of product and the price of the licenses. Subscription-based arrangements generally have a contractual term of one to twelve months. For Cloud offerings, subscription revenue is recognized ratably as services are delivered, commencing with the date the service is made available to customers. For Data Center offerings, the Company recognizes revenue upfront for the portion that relates to the delivery of the term license and the support revenue is recognized ratably as the services are delivered over the term of the arrangement. The revenue recognition policy is consistent for subscription sales generated directly with customers and sales generated indirectly through solution partners and resellers.

Maintenance Revenues

Maintenance revenues represented fees earned from providing customers with unspecified future updates, upgrades and enhancements and technical product support on an if-and-when-available basis for perpetual license products purchased and operated by our customers on their premises (“Server offerings”). Maintenance revenue was recognized ratably over the term of the support period. The Company generally ended maintenance and support for Server offerings in February 2024.

Other Revenues

Other revenues primarily include fees received for sales of third-party apps in the Atlassian Marketplace. Advisory services and training services are also included in other revenues. Revenue from the sale of third-party apps via the Atlassian Marketplace is recognized on the date of product delivery given that all of our obligations have been met at that time and on a net basis as the Company functions as the agent in the relationship. Revenue from advisory services is recognized over the time period that the customer has access to the service. Revenue from consulting and training is recognized over time as the services are performed.

Deferred Contract Acquisition Costs

Deferred contract acquisition costs are costs incurred to obtain a contract, if such costs are recoverable, and consist primarily of sales commissions and related payroll taxes. Incremental costs of obtaining a contract are earned on new and expansion contracts which are capitalized and amortized over the average period of benefit, which the Company estimates to be four years. The Company does not pay sales commissions upon contract renewal.

The Company determines the period of benefit for commissions paid for the acquisition of the customer contract by taking into consideration the initial estimated customer life, anticipated renewals, and the technological life of our software. The Company includes the deferred contract costs in prepaid expense and other current assets and other non-current assets on the Consolidated Balance Sheets and the amortization of deferred contract acquisition costs in marketing and sales expense on the Consolidated Statements of Operations.

Cash, Cash Equivalents and Restricted Cash

Cash and cash equivalents consist of highly liquid investments with an original maturity of three months or less at the date of purchase. Cash equivalents also include amounts due from third-party credit card processors as they are both short-term and highly liquid in nature and are typically converted to cash within three days of the sales transaction. Cash and cash equivalents are stated at fair value.

As of June 30, 2024 and 2023, the Company had restricted cash of $1.2 million and $1.4 million, respectively, primarily used for the benefit of employees through a deferred compensation plan, and such amounts were not available for use in the Company’s operations. Restricted cash is included in other non-current assets in the Consolidated Balance Sheets.

Accounts Receivable, net

The Company records trade accounts receivable at the invoice value, and such receivables are non-interest bearing. The Company considers receivables past due based on the contractual payment terms. The Company makes estimates of expected credit and collectability trends based on an assessment of various factors including

historical credit loss experience, adjusted for forward-looking factors specific to the debtors and the economic environment that may affect our ability to collect from customers. The allowance for credit losses and write offs were not material for each of the periods as of June 30, 2024, 2023 and 2022.

Fair Value Measurements

Fair value is defined as the exchange price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. The fair value hierarchy prioritizes the quality and reliability of the information used to determine fair values. Categorization within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The fair value hierarchy is defined into the following three categories of inputs:

•Level 1 - Quoted (unadjusted) market prices in active markets for identical assets or liabilities;

•Level 2 - Observable inputs (other than Level 1 prices) such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities;

•Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or examination.

Marketable Securities

The Company classifies all marketable debt securities that have original stated maturities of greater than three months as marketable securities on its Consolidated Balance Sheets. The Company determines the appropriate classification of its investments in marketable debt securities at the time of purchase and reevaluates such designation at each balance sheet date. The Company has classified and accounted for its marketable debt securities as available-for-sale (“AFS”). After consideration of its risk versus reward objectives, as well as its liquidity requirements, the Company may sell these debt securities prior to their stated maturities. The Company considers all of our marketable securities as funds available for use in current operations, including those with maturity dates beyond one year, and therefore classifies these securities as current assets on the Consolidated Balance Sheets.

The Company evaluates AFS securities with unrealized loss positions for credit loss by assessing whether the decline in fair value below the amortized cost basis has resulted from a credit loss or other factors, whether the Company expects to recover the entire amortized cost basis of the security, its intent to sell and whether it is more likely than not that the Company will be required to sell the securities before the recovery of their amortized cost basis. The Company carries these securities at fair value, and reports the unrealized gains and losses, net of taxes, as a component of accumulated other comprehensive income except for the changes in allowance for expected credit losses, which are recorded in other income (expense), net. Realized gains and losses are determined based on the specific identification method and are reported in other income (expense), net on the Consolidated Statements of Operations.

Strategic Investments

The Company holds strategic investments in privately held debt and equity securities, as well as publicly held equity securities in which the Company does not have a controlling interest.

Investments in privately held debt securities are classified as AFS securities. Investments in publicly held equity securities are recorded at fair value with changes in the fair value of the investments recorded in other income (expense), net in the Consolidated Statements of Operations.

Investments in privately held equity securities without readily determinable fair values in which the Company does not own a controlling interest or have significant influence over are measured in accordance with the measurement alternative. In applying the measurement alternative, the carrying value of the investment is measured at cost, less impairment, if any, plus or minus changes resulting from observable price changes from orderly transactions for the identical or a similar investment of the same issuer in the period of occurrence. Changes to the carrying value of these investments are recorded through other income (expense), net on the Consolidated Statements of Operations.

In determining adjustments to the carrying value of its strategic investments in privately held companies, the Company uses the most recent data available to the Company. Valuations of privately held securities are inherently complex and the determination of whether an orderly transaction is for an identical or similar investment requires judgment. In its evaluation, the Company considers factors such as differences in the rights and preferences of the investments and the extent to which those differences would affect the fair values of those investments. The Company’s impairment analysis encompasses an assessment of both qualitative and quantitative factors including the investee’s financial metrics, market acceptance of the investee’s product or technology, general market conditions and liquidity considerations.

Equity Method Investments

Privately held equity securities in which the Company does not have a controlling financial interest but does exercise significant influence over the investment are accounted for under the equity method. The Company records a proportionate share of the investment’s earnings or losses, and impairment, if any, as a component of other income (expense), net in the Consolidated Statements of Operations. These investments are included in strategic investments in the Consolidated Balance Sheets.

For entities that meet the definition of a variable interest entity (“VIE”), the Company consolidates those entities when the Company is the primary beneficiary of the entity. The Company is determined to be the primary beneficiary when it possesses both the unilateral power to direct activities that most significantly impact the economic performance of the VIE and the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. The Company continually evaluates whether it qualifies as the primary beneficiary and reconsiders its determination of whether an entity is a VIE upon reconsideration events. As of June 30, 2024, the Company has one investment in an unconsolidated VIE for which it exercises significant influence over their operations and accordingly accounts for it as an equity method investment.

Derivative Financial Instruments

The Company enters into foreign exchange forward contracts with the objective to mitigate certain currency risks associated with cost of revenues and operating expenses denominated in foreign currencies. These foreign exchange forward contracts are designated as cash flow hedges. The Company also enters into foreign exchange forward contracts to hedge a portion of certain foreign currency denominated as monetary assets and liabilities to reduce the risk that such foreign currency will be adversely affected by changes in exchange rates. The Company uses interest rate swaps to hedge the variability of cash flows in the interest payments associated with its variable-rate debt due to changes in the Secured Overnight Financing Rate (“SOFR”) based floating interest rate. The interest rate swaps are designated as cash flow hedges and involve interest obligations for U.S. dollar-denominated amounts. The Company does not enter into derivative instrument transactions for trading or speculative purposes. In May 2024, the Company settled its then existing interest rate swap contracts prior to their stated termination dates as a result of the repayment of the Term Loan (defined in Note 11, “Debt.”). Gains resulting from the early termination of interest rate swap contracts are deferred and amortized as adjustments to interest expense over the remaining period of the debt originally covered by the terminated swap contracts.

Hedging derivative instruments are recognized as either assets or liabilities and are measured at fair value. For derivative instruments designated as cash flow hedges, the gains (losses) on the derivatives are initially reported as a component of other comprehensive income and are subsequently recognized in earnings when the hedged exposure is recognized in earnings. For derivative instruments that are not designated as hedges, gains (losses) from changes in fair values are primarily recognized in other income (expense), net. The Company enters into master netting agreements with financial institutions to execute its hedging program. The master netting agreements are with select financial institutions to reduce the Company’s credit risk, as well as to reduce its concentration of risk with any single counterparty.

Property and Equipment

Property and equipment are stated at cost, net of accumulated depreciation. Depreciation is calculated using the straight-line method to allocate the cost over the estimated useful lives. The estimated useful lives for each asset class are as follows:


Equipment			3 years
Computer hardware and computer-related software			3 years
Furniture and fittings			5 years
Leasehold improvements			Shorter of the remaining lease term or 7 years

Leases

The Company determines if an arrangement is a lease at inception. The Company’s lease agreements generally contain lease and non-lease components. Payments under the Company’s lease arrangements are primarily fixed. Non-lease components primarily include payments for maintenance and utilities. The Company combines fixed payments for non-lease components with lease payments and account for them together as a single lease component which increases the amount of its lease assets and liabilities.

Certain lease agreements contain variable payments, which are expensed as incurred and not included in the lease assets and liabilities. These amounts include payments affected by the Consumer Price Index and payments for maintenance and utilities.

Lease assets and liabilities are recognized at the present value of the future lease payments at the lease commencement date. The interest rate used to determine the present value of the future lease payments is the Company’s incremental borrowing rate, because the interest rate implicit in the Company’s leases is not readily determinable. The Company’s incremental borrowing rate is estimated to approximate the interest rate on a collateralized basis with similar terms and payments, and in economic environments where the leased asset is located. The Company’s lease terms include periods under options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. The Company generally uses the base, non-cancelable, lease term when determining the lease assets and liabilities. The Company reassesses the lease term if and when a significant event or change in circumstances occurs. Lease assets also include any prepaid lease payments and lease incentives. Operating lease expense (excluding variable lease costs) is recognized on a straight-line basis over the lease term.

The Company applies the short-term lease recognition exemption for short-term leases, which are leases with a lease term of 12 months or less. Payments associated with short-term leases are recognized on a straight-line basis over the lease term.

The Company did not have any finance lease arrangements for fiscal years 2024, 2023, and 2022.

Business Combinations

The Company allocates the purchase price of acquired companies to the tangible and intangible assets acquired and liabilities assumed, based on their estimated fair values. The excess of the purchase price over the fair values of these identifiable assets and liabilities is recorded as goodwill. Acquisition-related expenses are recognized separately from the business combination and are expensed as incurred.

The Company uses its best estimates and assumptions to assign fair value to the tangible and intangible assets acquired and liabilities assumed at the acquisition date. Assumptions used to estimate the fair value of the intangible assets include, but are not limited to, projected revenue growth, projected operating expenses, and technology migration curves. These estimates are inherently uncertain and subject to refinement and, as a result, actual results may differ from estimates.

During the measurement period, which may not be later than one year from the acquisition date, the Company may record adjustments to the fair value of these tangible and intangible assets acquired and liabilities assumed, with the corresponding offset to goodwill. Upon the conclusion of the measurement period or final determination of the fair value of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to the Consolidated Statements of Operations.

Intangible Assets

The Company acquires intangible assets separately or in connection with business combinations. Intangible assets are measured at cost initially. Intangible assets with finite lives are amortized over their estimated useful life using the straight-line method. The amortization expense on intangible assets is recognized in the Consolidated Statements of Operations in the expense category consistent with the function of the intangible asset.

The estimated useful lives for each intangible asset class are as follows:


Patents, trademarks and other rights			5 - 12 years
Customer relationships			5 - 10 years
Acquired developed technology			4 - 7 years

Impairment of Long-Lived Assets

Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate an asset’s carrying value may not be recoverable. When the projected undiscounted cash flows estimated to be generated by those assets are less than their carrying amounts, the assets are adjusted to their estimated fair value and an impairment loss is recorded as a component of operating income (expense).

Goodwill

Goodwill is the excess of the aggregate of the consideration transferred over the identifiable assets acquired and liabilities assumed.

Goodwill is tested for impairment at least annually during the fourth quarter of the Company’s fiscal year and more often if and when circumstances indicate that the carrying value may be impaired. The Company’s reporting unit is at the operating segment level. The Company performs its goodwill impairment test at the level of its operating segment, as there are no levels below the operating segment level for which discrete financial information is prepared and regularly reviewed by the Company’s CODMs. A qualitative assessment is performed to determine whether it is more likely than not that the fair value of its operating segment is less than it’s carrying amount. If the operating segment does not pass the qualitative assessment, the carrying amount of the operating segment, including goodwill, is compared to fair value and goodwill is considered impaired if the carrying value exceeds its fair value. Any excess is recognized as an impairment loss in current period earnings.

Stock-based Compensation

The Company recognizes compensation expense related to all stock-based awards, including restricted stock units (“RSU”), and restricted stock awards (“RSA”) issued to the Company’s employees in exchange for their service, based on the estimated fair value of the awards on the grant date. The fair value of each RSU or RSA is based on the fair value of the Company’s Class A Common Stock on the date of grant.

The Company recognizes costs related to stock-based awards, net of estimated forfeitures, over the awards’ requisite service period on a straight-line basis, which is generally four years. The Company estimates forfeitures based on historical experience. The respective expenses are recognized as employee benefits and classified in the Consolidated Statements of Operations according to the activities that the employees perform.

Defined Contribution Plan

The Company offers various defined contribution plans for our U.S. and non-U.S. employees. The Company matches a portion of employee contributions each pay period, subject to maximum aggregate matching amounts, or contributes based on local legislative rates for eligible employees. Total defined contribution plan expense was $96.3 million, $78.2 million, and $58.7 million for fiscal years 2024, 2023, and 2022, respectively.

Advertising Costs

Advertising costs are expensed as incurred as a component of marketing and sales expense in the Consolidated Statements of Operations. Advertising expense was $100.2 million, $89.5 million and $90.3 million for fiscal years 2024, 2023, and 2022, respectively.

Research and Development

Research and development costs are expensed as incurred and consists of the employee, software, and hardware costs incurred for the development of new products, enhancements and updates of existing products and quality assurance activities. The costs incurred for the development of the Company’s cloud-based platform and internal use software are evaluated for capitalization during the development phase. Capitalized software development costs on the Company’s Consolidated Balance Sheet were not material for the periods presented.

Concentration of Credit Risk and Significant Customers

Financial instruments potentially exposing the Company to credit risk consist primarily of cash, cash equivalents, accounts receivable, derivative contracts and investments. The Company holds cash at financial institutions that management believes are high credit, quality financial institutions and invests in investment grade securities rated A- and above and debt securities. The Company’s derivative contracts expose it to credit risk to the extent that the counterparties may be unable to meet the terms of the arrangement. The Company enters into master netting agreements with select financial institutions to reduce its credit risk and trades with several counterparties to reduce its concentration risk with any single counterparty. The Company does not have significant exposure to counterparty credit risk at this time. In addition, the Company does not require nor is required to post collateral of any kind related to any foreign currency derivatives.

Credit risk arising from accounts receivable is mitigated to a certain extent due to our large number of customers and their dispersion across various industries and geographies. The Company’s customer base is highly diversified, thereby limiting credit risk. The Company manages credit risk with customers by closely monitoring its receivables and contract assets. The Company continuously monitors outstanding receivables locally to assess whether there is objective evidence that outstanding accounts receivables and contract assets are credit-impaired. As of June 30, 2024 and June 30, 2023, no customer represented more than 10% of the total accounts receivable balance. For fiscal years ended June 30, 2024, 2023, and 2022, no customer represented more than 10% of the total revenues.

Income Taxes

The Company uses the asset and liability method of accounting for income taxes. Under this method, deferred income tax assets and liabilities represent temporary differences between the carrying amounts of assets and liabilities in the consolidated financial statements and their corresponding tax basis used in the computation of taxable income. The Company measures deferred tax assets and liabilities using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be reversed. The Company recognizes the effect on deferred tax assets and liabilities of a change in tax rates within the provision for income taxes as expense and income in the period that includes the enactment date. The Company accounts for the tax impact of including Global Intangible Low-Taxed Income in U.S. taxable income as a period cost. A valuation allowance is established if it is more likely than not that all or a portion of the deferred tax asset will not be realized.

Changes in deferred tax assets or liabilities are recognized as a component of benefit from (provision for) income taxes in the Consolidated Statements of Operations, except where they relate to items that are recognized in other comprehensive income or directly in equity, in which case the related deferred tax is also recognized in other comprehensive income or equity, respectively. Where deferred tax arises from the initial accounting for a business combination, the tax effect is included in the accounting for the business combination.

Deferred tax assets are regularly evaluated for future realization and reduced by a valuation allowance to an amount for which realization is more likely than not. In making such a determination, the Company considers all available positive and negative evidence, including future reversals of existing temporary differences, projected future taxable income, tax planning strategies, carry back potential if permitted under the tax law, and results of recent operations. Significant management judgment is required to determine the amount of deferred tax assets that can be recognized, based upon the likely timing and the amount of future taxable income, together with future tax-planning strategies. Assumptions about the generation of future taxable income depend on management’s estimates of future cash flows, future business expectations, capital expenditures, dividends, and other capital management transactions. Management judgment is also required in relation to the application of income tax legislation, which involves complexity and an element of uncertainty. In the event there is a change in the Company’s assessment of its ability to recover deferred tax assets, the income tax provision would be adjusted accordingly, resulting in a corresponding adjustment to the Consolidated Statements of Operations.

Uncertain tax positions are recorded in accordance with Accounting Standards Codification Topic 740 Income Taxes (“ASC 740”), Income Taxes. ASC 740 specifies a two-step process in which (1) the Company determines whether it’s more likely than not that tax positions will be sustained on the basis of the technical merits of the position, and (2) for those positions that meet the more-likely-than-not recognition threshold, the Company recognizes the largest amount of tax benefit that is more likely than not to be realized upon ultimate settlement with the related tax authority. The Company considers many factors when evaluating uncertain tax positions, which involve significant judgement and may require periodic reassessment. The Company recognizes interest and penalties related to unrecognized tax benefits as a component of income tax expense. For details of taxation, please refer to Note 17, “Income Taxes.”

New Accounting Standards Not Yet Adopted in Fiscal Year 2024

In June 2022, the FASB issued Accounting Standards Update (“ASU”) No. 2022-03 “Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restriction.” This ASU clarifies that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring fair value. This amendment also requires public entities to add certain disclosures for equity securities subject to contractual sale restrictions. This ASU is effective for fiscal years beginning after December 15, 2023. The Company is currently evaluating the impact of the new guidance and does not expect it to have a material impact on its consolidated financial statements.

In November 2023, the FASB issued ASU No. 2023-07 “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.” This ASU expands public entities’ segment disclosures by requiring disclosure of significant segment expenses that are regularly provided to the chief operating decision maker and included within each reported measure of segment profit or loss, an amount and description of its composition for other segment items, and interim disclosures of a reportable segment’s profit or loss and assets. All disclosure requirements under ASU 2023-07 are also required for public entities with a single reportable segment. This ASU is effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024 with early adoption permitted and requires retrospective application to all prior periods. The Company is currently evaluating the impact of the new guidance and does not expect it to have a material impact on its consolidated financial statements.

In December 2023, the FASB issued ASU No. 2023-09 “Income Taxes (Topic 740): Improvements to Income Tax Disclosures.” This ASU requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid. This ASU is effective for fiscal years beginning after December 15, 2024. The Company is currently evaluating the impact of the new guidance and does not expect it to have a material impact on its consolidated financial statements.

Fair Value Measurements

12 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

Fair Value Measurements

3. Fair Value Measurements

The following table presents the Company’s financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2024, by level within the fair value hierarchy (in thousands):


	Level 1		Level 2		Total

Assets measured at fair value
Cash and cash equivalents:
Money market funds	$	1,563,234	$	—	$	1,563,234





Marketable securities:
U.S. treasury securities	—		52,517		52,517
Agency securities	—		3,199		3,199
Certificates of deposit and time deposits	—		10,000		10,000
Commercial paper	—		20,010		20,010
Corporate debt securities	—		76,247		76,247



Derivative financial instruments	—		9,292		9,292






Total assets measured at fair value	$	1,563,234	$	171,265	$	1,734,499

Liabilities measured at fair value
Derivative financial instruments	$	—	$	1,701	$	1,701



Total liabilities measured at fair value	$	—	$	1,701	$	1,701

The following table presents the Company’s financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2023, by level within the fair value hierarchy (in thousands):


	Level 1		Level 2		Total
Assets measured at fair value
Cash and cash equivalents:
Money market funds	$	1,338,509	$	—	$	1,338,509






Marketable securities:


Certificates of deposit and time deposits	—		10,000		10,000




Derivative financial instruments	—		64,210		64,210





Strategic investments:

Publicly traded equity securities	19,365		—		19,365


Total assets measured at fair value	$	1,357,874	$	74,210	$	1,432,084

Liabilities measured at fair value
Derivative financial instruments	$	—	$	10,114	$	10,114






Total liabilities measured at fair value	$	—	$	10,114	$	10,114

Due to the short-term nature of accounts receivables, net, contract assets, accounts payable, accrued expenses, and other current liabilities, their carrying amount is assumed to approximate their fair value.

Determination of Fair Value

The Company uses quoted prices in active markets for identical assets to determine the fair value of the Company’s Level 1 investments. The fair value of the Company’s Level 2 investments is determined based on quoted market prices or alternative market observable inputs.

Strategic Investments Measured and Recorded at Fair Value on a Non-Recurring Basis

The Company’s investments in privately held companies are not included in the tables above and are discussed in Note 4, “Investments.” The carrying value of the Company’s privately held equity securities are adjusted on a non-recurring basis upon observable price changes in orderly transactions for identical or similar investments of the same issuer, or impairment (referred to as the measurement alternative). Privately held equity securities that have been remeasured during the period based on observable price changes in orderly transactions are classified within Level 2 or Level 3 in the fair value hierarchy because the Company estimates the value based on valuation methods which may include a combination of the observable transaction price at the transaction date and other unobservable inputs including volatility, rights and preferences of the investments, and obligations of the securities the Company holds. The fair value of privately held equity securities that have been remeasured due to impairment are classified within Level 3. The Company’s privately held debt and equity securities amounted to $148.7 million and $140.1 million as of June 30, 2024 and June 30, 2023, respectively.

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 940
-SubTopic 820
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

Investments, Debt and Equity Securities [Abstract]

Investments

12 Months Ended

Jun. 30, 2024

Investments

4. Investments

Marketable Securities

The Company’s investments of marketable securities as of June 30, 2024, consisted of the following (in thousands):


	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
Marketable securities
U.S. treasury securities	$	52,570	$	30	$	(83)	$	52,517
Agency securities	3,194		5		—		3,199
Certificates of deposit and time deposits	10,000		—		—		10,000
Commercial paper	20,010		—		—		20,010
Corporate debt securities	76,386		7		(146)		76,247


Total marketable securities	$	162,160	$	42	$	(229)	$	161,973

The Company’s investments of marketable securities as of June 30, 2023, consisted of the following (in thousands):


	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value


Certificates of deposit and time deposits	$	10,000	—		—		$	10,000





Total marketable securities	$	10,000	$	—	$	—	$	10,000

The table below summarizes the Company’s marketable securities by remaining contractual maturity based on their effective maturity dates (in thousands):


	June 30, 2024		June 30, 2023
Due in one year or less	$	101,543	$	10,000
Due in one year through five years	60,430		—
Total marketable debt investments	$	161,973	$	10,000

The Company regularly reviews the changes to the rating of its marketable securities by rating agencies and monitors the surrounding economic conditions to assess the risk of expected credit losses. As of June 30, 2024, unrealized losses and the related risk of expected credit losses were not material, and as of June 30, 2023, no unrealized losses were recorded.

Strategic Investments

Carrying value of privately held debt securities

The Company’s investments of privately held debt securities as of June 30, 2024, consisted of the following (in thousands):


	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
Privately held debt securities	$	6,800	$	—	$	(3,350)	$	3,450

The Company’s investments of privately held debt securities as of June 30, 2023, consisted of the following (in thousands):


	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
Privately held debt securities	$	8,800	$	—	$	(3,350)	$	5,450

Carrying value of publicly traded and privately held equity securities

The carrying value is measured as the total initial cost plus the cumulative net gain (loss). Publicly traded equity securities are recorded at fair value and privately held equity securities are measured using the measurement alternative.

The Company did not have any publicly traded equity securities as of June 30, 2024 and the carrying values for privately held equity securities as of June 30, 2024 are summarized below (in thousands):


	Privately held equity securities
Initial total cost	$	147,752
Cumulative net losses	(2,491)
Carrying value	$	145,261

Privately held equity securities cumulative net losses were comprised of downward adjustments and impairment of $7.5 million and upward adjustments of $5.0 million as of June 30, 2024.

The carrying values for publicly traded and privately held equity securities as of June 30, 2023 are summarized below (in thousands):


	Publicly traded equity securities		Privately held equity securities		Total
Initial total cost	$	10,270	$	135,050	$	145,320
Cumulative net gains (losses)	9,095		(398)		$	8,697
Carrying value	$	19,365	$	134,652	$	154,017

Privately held equity securities cumulative net losses were comprised of downward adjustments and impairment of $5.9 million and upward adjustments of $5.5 million as of June 30, 2023. As of June 30, 2023, publicly traded equity securities were classified as prepaid expenses and other current assets on the Company’s Consolidated Balance Sheets.

Gains and Losses on Strategic Investments

The components of gains and losses on strategic investments were as follows (in thousands):


	Fiscal Year Ended June 30,
	2024		2023		2022
Unrealized losses recognized on publicly traded equity securities	$	—	$	(11,437)	$	(79,608)
Unrealized gains recognized on privately held equity securities	2,084		307		6,945
Unrealized losses recognized on privately held equity securities including impairment	(1,628)		(7,642)		—
Unrealized losses on privately held debt securities	(500)		(350)		—
Unrealized losses, net	$	(44)	$	(19,122)	$	(72,663)
Realized gains recognized on publicly traded equity securities	515		—		—
Realized losses recognized on privately held equity securities	(2,546)		—		—
Realized losses on debt securities	—		(285)		—
Losses on strategic investments, net	$	(2,075)	$	(19,407)	$	(72,663)
Unrealized gains (losses) recognized during the reporting period on privately held equity securities still held at the reporting date	$	456	$	(6,986)	$	6,945

Unrealized gains recognized on privately held equity securities includes upward adjustments from equity securities accounted for under the measurement alternative while unrealized losses recognized on privately held equity securities includes downward adjustments and impairment.

Realized gains on sales of securities, net reflects the difference between the sale proceeds and the carrying value of the security at the beginning of the period or the purchase date, if later.

Equity Method Investment

On July 20, 2022, the Company completed a non-cash sale of its controlling interest of Vertical First Trust (“VFT”) to a third-party buyer. The Company retained a minority equity interest of 13% in the form of ordinary units and has significant influence in VFT. The Company’s interest in VFT is accounted for using the equity method in the consolidated financial statements.

As of the date of sale, the Company used a discounted cash flow model to calculate the fair value of its retained equity interest. The fair value of the retained interest was $88.9 million, and is classified as a Level 3 investment in the fair value hierarchy. The inputs to the valuation included observable inputs, including capitalization rate, discount rate, and other management inputs, including the underlying building practical completion date. The maximum exposure to loss related to the Company’s investment in VFT equals the Company’s capital investment.

The following table sets forth the carrying amounts of the equity method investment and the movements during fiscal years 2023 and 2024 (in thousands):


	Equity Method Investment
Balance as of July 20, 2022	$	88,853
Effect of change in exchange rates	(3,417)
Balance as of June 30, 2023	85,436
Share of losses	(11,262)
Effect of change in exchange rates	336
Balance as of June 30, 2024	$	74,510

The carrying amount of the Company’s investment in VFT was reported within strategic investments in the Company’s Consolidated Balance Sheets.

Derivative Contracts

12 Months Ended

Jun. 30, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Contracts

5. Derivative Contracts

The Company has derivative instruments that are used for hedging activities as discussed below.

The following table sets forth the notional amounts of the Company’s hedging derivative instruments as of June 30, 2024 (in thousands):


	Notional Amounts of Derivative Instruments
	Notional Amount by Term to Maturity						Classification by Notional Amount
	Under 12 months		Over 12 months		Total		Cash Flow Hedge		Non Hedge		Total
Forward contracts	$	837,182	$	71,701	$	908,883	$	651,303	$	257,580	$	908,883

In May 2024, the Company settled its then existing interest rate swap contracts prior to their stated termination dates as a result of the repayment of the Term Loan (defined in Note 11, “Debt.”) and received cash proceeds of $37.7 million from the counterparties. The cash proceeds are reported within net cash provided by operating activities in the Company’s Consolidated Statements of Cash Flows in fiscal year 2024.

The following table sets forth the notional amounts of the Company’s hedging derivative instruments as of June 30, 2023 (in thousands, except for average interest rate):


	Notional Amounts of Derivative Instruments
	Notional Amount by Term to Maturity								Classification by Notional Amount
	Under 12 months		Over 12 months			Total			Cash Flow Hedge			Non Hedge		Total
Forward contracts	$	849,811	$	35,181		$	884,992		$	532,059		$	352,933	$	884,992
Interest rate swaps:
Notional amount	$	—	$	650,000		$	650,000		$	650,000		$	—	$	650,000
Average fixed interest rate			0.81		%	0.81		%	0.81		%			0.81		%

The fair value of the Company’s derivative instruments were as follows (in thousands):


		As of June 30,
	Balance Sheet Location	2024		2023
Derivative assets
Derivatives designated as hedging instruments:
Foreign exchange forward contracts	Prepaid expenses and other current assets	$	8,255	$	3,177
Foreign exchange forward contracts	Other non-current assets	867		—
Interest rate swaps	Prepaid expenses and other current assets	—		28,926
Interest rate swaps	Other non-current assets	—		28,215
Derivatives not designated as hedging instruments:
Foreign exchange forward contracts	Prepaid expenses and other current assets	170		3,892
Total derivative assets		$	9,292	$	64,210
Derivative liabilities
Derivatives designated as hedging instruments:
Foreign exchange forward contracts	Accrued expenses and other current liabilities	$	1,197	$	9,657
Foreign exchange forward contracts	Other non-current liabilities	7		209
Derivatives not designated as hedging instruments:
Foreign exchange forward contracts	Accrued expenses and other current liabilities	497		248
Total derivative liabilities		$	1,701	$	10,114

The pre-tax effects of derivatives designated as cash flow hedging instruments on the consolidated financial statements were as follows (in thousands):



	Fiscal Year Ended June 30,
	2024		2023		2022

Beginning balance of accumulated gains (losses) in accumulated other comprehensive income	$	48,170	$	24,502	$	(2,936)
Gross unrealized gains recognized in other comprehensive income	10,826		17,952		11,421

Net losses (gains) reclassified from cash flow hedge in accumulated other comprehensive income into profit or loss:
Recognized in cost of revenues	1,072		1,831		525
Recognized in research and development	7,718		16,890		10,513
Recognized in marketing and sales	1,264		1,337		220
Recognized in general and administrative	2,320		5,563		1,606
Recognized in interest	(29,946)		(19,905)		3,153
Ending balance of accumulated gains in accumulated other comprehensive income	$	41,424	$	48,170	$	24,502

Amortization of the gains related to early settlement of interest rate swap contracts was $4.2 million for fiscal year 2024.

Property and Equipment

12 Months Ended

Jun. 30, 2024

Property, Plant and Equipment [Abstract]

Property and Equipment

6. Property and Equipment

Property and equipment, net consisted of the following (in thousands):


	As of June 30,
	2024		2023
Equipment	$	11,200	$	9,298
Computer hardware and software	40,824		29,801
Furniture and fittings	25,172		24,773
Leasehold improvements and other	137,944		123,125

Property and equipment, gross	215,140		186,997
Less: accumulated depreciation and impairment	(128,825)		(105,595)
Property and equipment, net	$	86,315	$	81,402

Depreciation expense was $29.0 million, $27.8 million and $19.3 million for fiscal years 2024, 2023, and 2022, respectively.

During fiscal year 2023, the Company recorded an $8.4 million impairment charge for leasehold improvements as a result of our restructuring efforts.

Business Combinations

12 Months Ended

Jun. 30, 2024

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

Business Combinations

7. Business Combinations

Loom, Inc.

On November 30, 2023, the Company acquired 100% of the outstanding equity of Loom, Inc. (“Loom”), an asynchronous video messaging platform that helps users communicate through instantly shareable videos. The Company believes the acquisition of Loom further elevates the collaboration experience of Atlassian customers. Total purchase price consideration for Loom was approximately $885.6 million and consisted of cash. The Company has included the financial results of Loom in its consolidated financial statements from the date of acquisition, which were not material for the fiscal year 2024. Pro forma results of operations have not been presented for the fiscal year 2024 and 2023 because the effect of the acquisition was not material to our consolidated financial statements.

The following table summarizes the preliminary fair values of assets acquired and liabilities assumed as of the date of acquisition (in thousands):


	Fair Value
Cash and cash equivalents	$	59,265
Marketable securities	43,494




Intangible assets, net	272,300
Goodwill	544,828
Other assets	3,941

Deferred revenue, current portion	(16,145)


Deferred tax liabilities	(15,668)
Other liabilities	(6,391)
Net assets acquired	$	885,624

The excess of purchase consideration over the fair value of assets acquired and liabilities assumed was recorded as goodwill. The resulting goodwill is primarily attributed to the assembled workforce and expanded market opportunities, including integrating the Loom product offering with existing Company services to enhance asynchronous collaboration among distributed teams. The goodwill is not deductible in the U.S. for income tax purposes. The fair values assigned to assets acquired and liabilities assumed are preliminary based on management’s estimates and assumptions and may be subject to change as additional information is received. The primary areas that remain preliminary relate to the fair values of certain intangible assets acquired, certain tangible assets and liabilities acquired, contingencies as of the acquisition date, income tax, including deferred taxes, and residual goodwill. The Company expects to finalize the valuation not later than one year from the acquisition date.

The following table sets forth the components of identifiable intangible assets acquired and their estimated useful lives as of the date of acquisition:


	Fair Value		Useful Life
Developed technology	$	230,000	7
Trade name	37,000		8
Other purchased intangible assets	5,300		5

Developed technology represents the estimated fair value of Loom’s asynchronous video technology. Trade name represents the estimated fair value of the Loom trade name.

In connection with the transaction, the Company granted $30.2 million worth of replacement awards in the form of RSUs to Loom employees and $54.7 million worth of RSAs to certain key Loom employees. The fair value of the replacement awards and RSAs was based on the stock price of the Company on the grant date. Both the replacement awards and RSAs are subject to future vesting provisions based on service conditions and the related expense is accounted for as stock-based compensation.

Other fiscal year 2024, 2023 and 2022 business combinations

During the fiscal years 2024, 2023 and 2022, the Company also completed certain acquisitions to expand our product and service offerings. These transaction were accounted for as business combinations and were not material to the Company’s consolidated financial statements.

Goodwill and Intangible Assets

12 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

8. Goodwill and Intangible Assets

Goodwill

Goodwill represents the excess of the purchase price in a business combination over the fair value of net tangible and intangible assets acquired. Goodwill amounts are not amortized, but rather are tested for impairment at least annually during the fourth quarter, or when indicators of impairment exist.

Goodwill consisted of the following (in thousands):


	Goodwill
Balance as of June 30, 2022	$	722,838
Additions	3,300
Effect of change in exchange rates	1,073
Balance as of June 30, 2023	727,211
Additions	561,372
Effect of change in exchange rates	173
Balance as of June 30, 2024	$	1,288,756

Intangible Assets

Intangible assets consisted of the following (in thousands):


	As of June 30,				Weighted-Average Remaining Useful Lives (Years)
	2024		2023
Acquired developed technology	$	469,752	$	235,818	6
Patents, trade names, and other rights	70,928		33,393		7
Customer relationships	135,687		129,502		4
Intangible assets, gross	676,367		398,713
Less: accumulated amortization	(377,310)		(329,641)
Intangible assets, net	$	299,057	$	69,072

Amortization expense for intangible assets was approximately $49.7 million, $33.1 million and $32.4 million for fiscal years 2024, 2023, and 2022, respectively.

The following table presents the estimated future amortization expense related to intangible assets held as of June 30, 2024 (in thousands):


Fiscal Years:
2025	$	55,243
2026	52,705
2027	47,536
2028	45,309
2029	40,076
Thereafter	58,188
Total future amortization expense	$	299,057

Accrued Expenses and Other Current Liabilities

12 Months Ended

Jun. 30, 2024

Other Liabilities Disclosure [Abstract]

Accrued Expenses and Other Current Liabilities

9. Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consist of the following (in thousands):


	As of June 30,
	2024		2023
Accrued expenses	$	149,046	$	107,479
Employee benefits	332,518		191,801
Tax liabilities	55,203		88,748
Customer deposits	19,279		11,784


Other payables	21,313		23,319
Total accrued expenses and other current liabilities	$	577,359	$	423,131

Leases

12 Months Ended

Jun. 30, 2024

Leases [Abstract]

Leases

10. Leases

The Company rents office space and equipment under non-cancelable operating leases with various expiration dates through fiscal year 2034. Certain lease agreements include varying terms, escalation clauses and renewal rights. The Company does not assume renewals in its determination of the lease term unless the renewals are deemed to be reasonably certain at lease commencement. The Company’s lease agreements generally do not contain any material residual value guarantees or material restrictive covenants.

The components of lease costs and other information related to leases were as follows (in thousands):


	Fiscal Year Ended June 30,
	2024			2023			2022
Operating lease costs	$	41,426		$	50,134		$	49,647
Variable lease costs	11,908			13,094			12,077
Total lease costs	$	53,334		$	63,228		$	61,724

Weighted average remaining lease term (in years)	6			7			8
Weighted average discount rate	2.9		%	2.5		%	2.4		%

Supplemental cash flow information related to operating leases were as follows (in thousands):


	Fiscal Year Ended June 30,
	2024		2023		2022
Cash payments for operating leases	$	49,803	$	41,493	$	49,142
Right-of-use assets obtained in exchange for new operating lease liabilities	$	23,265	$	3,580	$	105,961

Future lease payments under non-cancelable operating leases with initial lease terms in excess of one year included in the Company’s lease liabilities as of June 30, 2024 were as follows (in thousands):


Fiscal years:	Operating Lease Payments
2025	$	55,735
2026	50,502
2027	49,489
2028	38,875
2029	38,436
Thereafter	53,285
Total future operating lease payments	286,322
Less: imputed interest	(22,895)

Total lease liability balance	$	263,427

During fiscal year 2023, in addition to operating lease costs disclosed above, the Company recorded an impairment charge of $52.7 million in aggregate for operating lease right-of-use assets as part of our lease consolidation efforts.

The Company entered into an Agreement for Lease (the “AFL”) for the Company’s new global headquarters in Sydney, Australia (the “Australian HQ Property”) in March 2022. Following completion of the development of the Australian HQ Property, the AFL requires the Company to enter into a lease agreement for the planned headquarters office space. The lease is expected to commence in fiscal year 2027 and will continue for fifteen years, with the Company’s option to extend the term for up to two additional ten-year periods. Future lease payments are approximately $925.8 million as of June 30, 2024, for the initial term of fifteen years. Please refer to Note 4, “Investments,” for details of the transaction.

In addition, the Company entered into other operating leases, primarily for offices, that have not yet commenced with future lease payments of approximately $39.0 million as of June 30, 2024. These operating leases are expected to commence in fiscal year 2025 with lease terms of four to five years.

Debt

12 Months Ended

Jun. 30, 2024

Debt Disclosure [Abstract]

Debt

11. Debt

Credit Facility

In October 2020, the Company’s principal U.S. operating subsidiary, Atlassian US, Inc., entered into a credit agreement (the “2020 Credit Agreement”) establishing a $1 billion senior unsecured delayed-draw term loan facility (the “Term Loan Facility”) and a $500.0 million senior unsecured revolving credit facility (the “Revolving Credit Facility,” and together with the Term Loan Facility, the “2020 Credit Facility”). The Company used the net proceeds of the 2020 Credit Facility for general corporate purposes, including repayment of the then existing indebtedness. The 2020 Credit Facility bore interest, at the Company’s option, at a base rate plus a margin up to 0.50% or the Secured Overnight Financing Rate, plus a credit spread adjustment of 0.10% plus a spread of 0.875% to 1.50%, in each case with such margin being determined by the Company’s consolidated leverage ratio. The Revolving Credit Facility could have been borrowed, repaid, and re-borrowed until its maturity, and the Company had the option to request an increase of $250 million in certain circumstances.

The 2020 Credit Facility would have matured in October 2025 and the Company could prepay the 2020 Credit Facility at its discretion without penalty. Commencing on October 31, 2023, the Company was obligated to repay the outstanding principal amount of the Term Loan Facility in installments on a quarterly basis in an amount equal to 1.25% of the Term Loan Facility borrowing amount until the maturity of the Term Loan Facility.

The Company was also obligated to pay a commitment fee on the undrawn amounts of the Revolving Credit Facility at an annual rate ranging from 0.075% to 0.20%, determined by the Company’s consolidated leverage ratio.

The 2020 Credit Facility required compliance with various financial and non-financial covenants, including affirmative and negative covenants. The financial covenants included a maximum consolidated leverage ratio of 3.5x, which ratio would increase to 4.5x during the period of four fiscal quarters immediately following a material acquisition. As of June 30, 2024, the Company was in compliance with all related covenants.

In May 2024, the Company repaid in full the Term Loan Facility. There were no outstanding borrowings under the Credit Facility as of June 30, 2024. In August 2024, the 2020 Credit Facility was amended and restated to eliminate the Term Loan Facility and provide for a $750 million senior unsecured revolving credit facility. Please refer to Note 18, “Subsequent Events,” for details of the transaction.

The Notes

On May 15, 2024, the Company issued $500.0 million aggregate principal amount of 5.250% senior notes due 2029 (the “2029 Notes”) and $500.0 million aggregate principal amount of 5.500% senior notes due 2034 (the “2034 Notes,” and together with the 2029 Notes, the “Notes”). The Notes will mature on May 15, 2029 and May 15, 2034 respectively. The 2029 Notes bear interest at a rate of 5.250% per year. The 2034 Notes bear interest at a rate of 5.500% per year. Interest on the Notes is paid semi-annually in arrears on May 15 and November 15 of each year, beginning on November 15, 2024.

The Notes are senior unsecured obligations of the Company. The Company may redeem either series of the Notes, in whole or in part, at any time or from time to time at the applicable redemption price. Upon the occurrence of a change of control event, the Company will be required to make an offer to repurchase all outstanding notes from their holders at a price equal to 101% of their principal amount thereof, plus accrued and unpaid interest to, but not including, the date of repurchase. The indenture governing the Notes also includes covenants (including certain limited covenants restricting our ability to incur certain liens and enter into certain sale and leaseback transactions), events of default, and other customary provisions. As of June 30, 2024, the Company was in compliance with all covenants associated with the Notes.

The Company incurred debt discount and issuance costs of approximately $14.3 million in connection with the Notes offering, which were allocated on a pro rata basis to the 2029 Notes and 2034 Notes. The debt discount and issuance costs are amortized on an effective interest rate method to interest expense over the contractual term of the Notes. The proceeds from this offering, net of debt discounts and issuance costs, was $985.7 million. The net proceeds were used primarily to repay the Term Loan Facility.

The carrying values of the Notes were as follows (in thousands):


Instrument	Expected Remaining Term (years)	Effective Interest Rate		June 30, 2024
5.250% 2029 Notes	4.9	5.55	%	$	500,000
5.500% 2034 Notes	9.9	5.71	%	500,000
Unamortized debt discount and issuance costs				(14,089)

Debt, net of current portion				$	985,911

As of June 30, 2024, the total estimated fair value of the Notes was $1.0 billion. The estimated fair values of the Notes, which the Company deems Level 2 financial instruments, were determined based on quoted bid prices in an over-the-counter market on the last trading day of the reporting period.

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
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-Paragraph 1
-Subparagraph (d)
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1E

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
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Reference 21: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

Commitments and Contingencies Disclosure [Abstract]

Commitment and Contingencies

12 Months Ended

Jun. 30, 2024

Commitments and Contingencies

12. Commitments and Contingencies

Noncancellable Purchase Obligations

The Company has contractual commitments for services with third-parties related to its cloud services platform and other infrastructure services. These commitments are non-cancellable and expire within one to four years. There were no material contractual commitments that were entered into during fiscal year 2024 that were outside the ordinary course of business.

The following table sets forth contractual commitments as of June 30, 2024 and 2023 (in thousands):


	Fiscal Year Ended June 30,
	2024		2023
Contractual purchase obligations	$	1,415,724	$	1,788,740
Obligations for leases that have not yet commenced	964,825		919,333
Total purchase obligation	$	2,380,549	$	2,708,073

Maturities of purchase obligations as of June 30, 2024 were as follows (in thousands):


	Other contractual commitments		Leases not commenced		Total
Fiscal Years:
2025	$	462,187	$	1,116	$	463,303
2026	378,631		5,641		384,272
2027	434,406		36,518		470,924
2028	140,500		58,125		198,625
2029	—		60,295		60,295
Thereafter	—		803,130		803,130
Total commitments	$	1,415,724	$	964,825	$	2,380,549

Please refer to Note 10, “Leases,” for discussion of lease commitments that the Company has entered but the leases have not yet commenced.

Legal Proceedings

On February 3, 2023, a putative securities class action (the “Putative Class Action”) was filed in the U.S. District Court for the Northern District of California, captioned City of Hollywood Firefighters’ Pension Fund vs. Atlassian Corporation, Case No. 3:23-cv-00519, naming the Company and certain of its officers as defendants. The lawsuit is purportedly brought on behalf of purchasers of the Company’s securities between August 5, 2022 and November 3, 2022 (the “Class Period”). The complaint alleges claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and Rule 10b-5 promulgated thereunder, based on allegedly false and misleading statements about the Company’s business and prospects during the Class Period. The lawsuit seeks unspecified damages. On January 22, 2024, the court granted the defendants’ motion to dismiss plaintiffs’ complaint with leave to amend. Plaintiffs filed a second amended complaint on March 1, 2024 and the defendants filed a motion to dismiss on April 19, 2024. On August 13, 2024, the court issued a ruling granting

the defendants’ motion to dismiss plaintiffs’ second amended complaint, and providing the plaintiffs until September 3, 2024 to file a third amended complaint.

In March, April and August 2023, three stockholder derivative lawsuits were filed in the U.S. District Court for the District of Delaware against the members of the Company’s board of directors and certain of its officers, captioned Silva v. Cannon-Brookes, Case No. 1:23-cv-00283; Keane v. Cannon-Brookes, Case No. 1:23-cv-00399; and Azzawi v. Cannon-Brookes, Case No. 1:23-cv-00884. The Company is named as a nominal defendant. These stockholder derivative lawsuits are based largely on the same allegations as the Putative Class Action, including allegations relating to the Company’s disclosures during the Class Period as well as, in certain instances, alleged insider trading. The lawsuits purport to assert claims for, among other things, breach of fiduciary duty, corporate waste, unjust enrichment, and violations of Section 10(b) of the Exchange Act, and Rule 10b-5 promulgated thereunder. The complaints seek unspecified damages and other relief purportedly on the Company’s behalf. In May and August 2023, the Court consolidated the Silva, Keane, and Azzawi actions into In re Atlassian Corporation Stockholder Derivative Litigation, Case No. 1:23-cv-00283-GBW (the “Consolidated Action”), and stayed the Consolidated Action pending resolution of any motion(s) to dismiss in the Putative Class Action.

On September 6, 2023, a stockholder derivative lawsuit was filed in the U.S. District Court for the Northern District of California against the members of the Company’s board of directors and certain of its officers, captioned Capistrano v. Cannon-Brookes, Case No. 4:23-cv-04584 (the “Capistrano Action”). The Company is named as a nominal defendant. The complaint is based largely on the same allegations as the Putative Class Action and the Consolidated Action, including allegations relating to the Company’s disclosures during the Class Period as well as, in certain instances, alleged insider trading. The lawsuits purport to assert claims for, among other things, breach of fiduciary duty, corporate waste, unjust enrichment, and violations of Section 10(b) of the Exchange Act, and Rule 10b-5 promulgated thereunder. The complaints seek unspecified damages and other relief purportedly on the Company’s behalf. On October 31, 2023, the Court stayed the Capistrano Action pending resolution of any motion(s) to dismiss in the Putative Class Action.

The defendants have denied and intend to continue to deny the allegations of wrongdoing and vigorously defend against the claims in each of the Putative Class Action, the Consolidated Action, and the Capistrano Action.

In addition to the matters discussed above, from time to time, the Company is party to litigation and other legal proceedings in the ordinary course of business. While the Company does not believe the ultimate resolutions of these other pending legal matters not described above are likely to have a material adverse effect on the Company’s financial position, the results of any litigation or other legal proceedings are uncertain and as such the resolution of such legal proceedings, either individually or in the aggregate, could have a material adverse effect on its business, results of operations, financial condition or cash flows. The Company accrues for loss contingencies when it is both probable that it will incur the loss and when it can reasonably estimate the amount of the loss or range of loss. For the periods presented, the Company has not recorded any liabilities as a result of the litigation or other legal proceedings in its consolidated financial statements.

Indemnification Provisions

The Company’s agreements include provisions indemnifying customers against intellectual property and other third-party claims. In addition, the Company has entered into indemnification agreements with its directors, executive officers and certain other officers that will require the Company to, among other things, indemnify these individuals for certain liabilities that may arise as a result of their affiliation with the Company. For the periods presented, the Company has not incurred any costs as a result of such indemnification obligations and has not recorded any liabilities related to such obligations in the consolidated financial statements.

Revenue

12 Months Ended

Jun. 30, 2024

Revenue from Contract with Customer [Abstract]

Revenue

13. Revenue

Remaining Performance Obligations

Transaction price allocated to the remaining performance obligations represents contracted revenue that has not yet been recognized, which includes deferred revenue and unbilled amounts that will be recognized as revenue in future periods. Transaction price allocated to the remaining performance obligations is influenced by several factors, including the timing of renewals, the timing of delivery of software licenses, average contract terms, and foreign currency exchange rates. Unbilled portions of the remaining performance obligations are subject to future economic risks including bankruptcies, regulatory changes and other market factors.

As of June 30, 2024, approximately $2.4 billion of revenue is expected to be recognized from transaction price allocated to remaining performance obligations. The Company expects to recognize revenue on approximately 79% of these remaining performance obligations over the next 12 months with the balance recognized thereafter.

Disaggregated Revenue

The Company’s revenues by geographic region based on end-users who purchased the Company’s products or services are as follows (in thousands):


	Fiscal Year Ended June 30,
	2024		2023		2022
Americas
United States	$	1,847,194	$	1,537,328	$	1,230,801
Other Americas	278,240		227,838		178,067
Total Americas	2,125,434		1,765,166		1,408,868
EMEA
Germany	442,063		330,046		249,227
Other EMEA	1,308,847		1,036,693		828,111
Total EMEA	1,750,910		1,366,739		1,077,338
Asia Pacific	482,259		402,742		316,676
Total revenues	$	4,358,603	$	3,534,647	$	2,802,882

The Company provides different deployment options for its product offerings. Cloud offerings provide customers the right to use the Company’s software in a cloud-based infrastructure that the Company provides. Data Center offerings are on-premises term license agreements for the Company’s Data Center products, which are software licensed for a specified period, and include support and maintenance services that are bundled with the license for the term of the license period. Marketplace and other offerings mainly include fees received for sales of third-party apps in the Atlassian Marketplace and services like premier support, advisory services and training services. Premier support consists of subscription-based arrangements for a higher level of support across different deployment options, and revenues from this offering are included in Subscription revenues within the Company’s Consolidated Statements of Operations.

The revenues from Server offerings consists of revenue from maintenance services since the Company no longer sells perpetual licenses for its Server offerings. The Company generally ended maintenance and support for these Server offerings in February 2024.

The Company’s revenues by deployment options are as follows (in thousands):


	Fiscal Year Ended June 30,
	2024		2023		2022
Cloud	$	2,698,899	$	2,085,498	$	1,515,424
Data Center	1,208,498		819,251		560,319
Server	177,645		400,519		525,028
Marketplace and other	273,561		229,379		202,111
Total revenues	$	4,358,603	$	3,534,647	$	2,802,882

Deferred Revenue

The Company records deferred revenues when cash payments are received or due in advance of the Company satisfying its performance obligations, including amounts which are refundable. The changes in the deferred revenue are as follows (in thousands):


	Fiscal Year Ended June 30,
	2024		2023
Balance, beginning of period	$	1,545,479	$	1,182,680
Additions	4,927,860		3,897,446
Revenue	(4,358,603)		(3,534,647)
Balance, end of period	$	2,114,736	$	1,545,479

For fiscal years 2024 and 2023, approximately 31% and 30% of revenue recognized was from the deferred revenue balances at the beginning of each fiscal year, respectively.

Deferred Contract Acquisition Costs

The changes in the balances of deferred contract acquisition costs are as follows (in thousands):


	Fiscal Year Ended June 30,
	2024		2023
Balance, beginning of period	$	53,604	$	27,141
Additions	51,326		40,060
Amortization expense	(25,219)		(13,597)
Balance, end of period	$	79,711	$	53,604
Deferred contract acquisition costs included in:
Prepaid expenses and other current assets	$	29,170	$	18,027
Other non-current assets	50,541		35,577
Total	$	79,711	$	53,604

The Company periodically reviews these deferred contract acquisition costs to determine whether events or changes in circumstances have occurred that could impact the period of benefit. There were no impairment losses recorded during the periods presented.

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

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Geographic Information

12 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Geographic Information

14. Geographic Information

The Company’s long-lived assets by geographic regions are as follows (in thousands):


	As of June 30,
	2024		2023

United States	$	189,468	$	213,567
Australia	47,082		37,891
All other countries	22,234		14,139
Total long-lived assets	$	258,784	$	265,597

Long-lived assets for this purpose consist of property and equipment and operating lease right-of-use assets.

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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Stockholder's Equity

12 Months Ended

Jun. 30, 2024

Equity [Abstract]

Stockholders' Equity

15. Stockholders' Equity

Common Stock

As discussed in Note 1, “Description of Business,” the Company completed the U.S. Domestication after the close of market trading on September 30, 2022. At that time all issued and outstanding ordinary shares of Atlassian Corporation Plc were exchanged on a one-for-one basis for newly issued shares of corresponding common stock of Atlassian Corporation, and all issued and outstanding equity awards of Atlassian Corporation Plc were assumed by

Atlassian Corporation and were converted into rights to acquire Atlassian Corporation shares of Class A Common Stock on the same terms.

As of June 30, 2024, the Company’s common stock consists of Class A Common Stock and Class B Common Stock, each of which has a par value of $0.00001. Each share of Class B Common Stock will convert automatically into one share of Class A Common Stock in the following circumstances: (1) upon the written consent of the holders of at least 66.66% of the total number of outstanding shares of Class B Common Stock; (2) if the aggregate number of shares of Class B Common Stock then outstanding comprises less than ten percent (10%) of the total number of shares of Class A Common Stock and Class B Common Stock then outstanding; and (3) upon any transfer to a person that is not a permitted transferee described in the Company’s amended and restated certificate of incorporation.

Any dividend declared by the Company must be paid on the Class A Common Stock and the Class B Common Stock pari passu as if they were all stock of the same class. Additionally, upon the liquidation, dissolution, or winding up of the Company, whether voluntary or involuntary, holders of Class A Common Stock and Class B Common Stock will be entitled to receive ratably on a per share basis all assets of the Company available for distribution to its stockholders, unless disparate or different treatment of the shares of each such class is approved by the affirmative vote of the holders of a majority of the outstanding shares of Class A Common Stock and by the affirmative vote of the holders of a majority of the outstanding shares of Class B Common Stock, each voting separately as a class.

Each share of Class A Common Stock is entitled to one vote. Each share of Class B Common Stock is entitled to 10 votes.

Preferred Stock

The Company’s board of directors has the authority to issue up to 10 million shares of preferred stock in one or more series. The Company’s board of directors may designate the rights, preferences, privileges and restrictions of the preferred stock, including voting rights, dividend rights, conversion rights, redemption privileges and liquidation preferences, the right to elect directors to and increase or decrease the number of shares of any series. As of June 30, 2024 and 2023, no shares of preferred stock were outstanding.

Stock-based Compensation

Upon the completion of the U.S. Domestication, the Company assumed the following plans: the Atlassian Corporation Plc 2015 Share Incentive Plan (as amended, the “2015 Plan”); and the 2015 Employee Share Purchase Plan (as amended, the “ESPP” and, together with the 2015 Plan, the “Incentive Plans”). In connection with its assumption of the Incentive Plans, the Company amended and restated the 2015 Plan as the Atlassian Corporation Amended and Restated 2015 Share Incentive Plan, and the ESPP as the Atlassian Corporation Amended and Restated 2015 Employee Share Purchase Plan, in each case to reflect the assumption and changes in applicable law and to provide that the securities to be issuable in connection with equity awards will be shares of the Company’s Class A Common Stock instead of Atlassian Corporation Plc Class A ordinary shares.

In addition, Atlassian Corporation assumed each RSU award covering Atlassian Corporation Plc Class A ordinary shares that was outstanding under an equity incentive plan and amended such RSU award to reflect the assumption by Atlassian Corporation and to provide for the securities issuable in connection with the exercise or settlement of the award to be shares of Atlassian Corporation’s Class A Common Stock.

At June 30, 2024, the Company had 30,425,646 shares of its common stock available for future issuance under the 2015 Plan. The Company currently does not have common stock outstanding or open offering periods under the ESPP.

RSU grants generally vest over four years with 25% vesting on the one year anniversary of the date of grant and 1/12th of the remaining RSUs vest over the remaining three years, on a quarterly basis thereafter. Effective from April 2021 for existing employees and September 2023 for new employees, new RSU grants generally vest evenly over four years on a quarterly basis.

A summary of RSU activity for fiscal year 2024 is as follows (in thousands except share and per share data):


	Number of Shares	Weighted Average Grant Date Fair Value		Aggregate Intrinsic Value












Balance as of June 30, 2023	9,562,918	$	235.16	$	1,604,753
Granted	9,809,695	199.66		—
Vested	(4,994,610)	223.40		$	950,263
Forfeited or cancelled	(1,681,039)	229.31		—
Balance as of June 30, 2024	12,696,964	$	213.13	$	2,245,839

The weighted-average grant date fair value of RSUs granted in fiscal years 2023 and 2022 was $221.87 and $332.43, respectively. The total intrinsic value of the RSUs vested in fiscal years 2023 and 2022 was 617.0 million and 925.8 million, respectively. The income tax benefit recognized related to awards vested in fiscal years 2024, 2023 and 2022 was $218.7 million, $156.5 million, and $242.8 million, respectively. As of June 30, 2024, total compensation cost not yet recognized in the consolidated financial statements related to employee and director RSU awards was $2.1 billion, which is expected to be recognized over a weighted-average period of 1.8 years.

During fiscal year 2024, the Company granted RSAs for 301,751 shares of Class A Common Stock. During fiscal year 2023, the Company did not grant any RSAs. As of June 30, 2024 and 2023, there were RSAs for 156,856 and 6,131 shares of Class A Common Stock outstanding, respectively. These outstanding RSAs are subject to forfeiture or repurchase at the original exercise price during the repurchase period following employee termination, as applicable. The total aggregate intrinsic value of outstanding RSAs were $27.7 million and $1.0 million as of June 30, 2024 and 2023, respectively.

Of the total stock-based compensation expense, costs recognized for awards granted to non-employees were immaterial for all periods presented.

Share Repurchase Program

In January 2023, the Board of Directors authorized a program to repurchase up to $1.0 billion of the Company’s outstanding Class A Common Stock (the “Share Repurchase Program”). The Share Repurchase Program does not have a fixed expiration date, may be suspended or discontinued at any time, and does not obligate the Company to repurchase any specific dollar amount or to acquire any specific number of shares. The Company may repurchase shares of Class A Common Stock from time to time through open market purchases, in privately negotiated transactions, or by other means, including through the use of trading plans intended to qualify under Rule 10b5-1 under the Exchange Act, in accordance with applicable securities laws and other restrictions. The timing, manner, price, and amount of any repurchases will be determined by the Company at its discretion and will depend on a variety of factors, including business, economic and market conditions, prevailing stock prices, corporate and regulatory requirements, and other considerations.

During fiscal year 2024, the Company repurchased and subsequently retired approximately 2.2 million shares of its Class A Common Stock for approximately $394.0 million at an average price per share of $182.32. All repurchases were made in open market transactions. As of June 30, 2024, the Company was authorized to purchase a remaining $451.8 million of its Class A Common Stock under the Share Repurchase Program.

Net Loss Per Share

12 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

Net Loss Per Share

16. Net Loss Per Share

The Company computes net loss per share of Class A and Class B Common Stock using the two-class method. As the liquidation and dividend rights for both Class A and Class B Common Stock are identical, the net loss is allocated on a proportionate basis to the weighted-average number of shares of common stock outstanding for the period. Basic net loss per share attributable to Class A and Class B stockholders is computed by dividing the net loss by the weighted-average number of Class A and Class B Common Stock outstanding during the period.

For the calculation of diluted net loss per share, net loss for basic EPS is adjusted by the effect of dilutive securities, including awards under the Company’s equity compensation plans. The dilutive potential shares of common stock are computed using the treasury stock method or the as-if converted method, as applicable. Since the Company is in a loss position for all periods reported, basic and diluted net loss per share are the same for all periods as the inclusion of potential dilutive shares would have been anti-dilutive.

The following tables present the calculation of basic and diluted net loss per share attributable to common stockholders (in thousands, except per share data):


	Fiscal Year Ended June 30,
	2024				2023				2022
	Class A		Class B		Class A		Class B		Class A		Class B
Numerator:
Net Loss	$	(181,587)	$	(118,932)	$	(283,907)	$	(202,854)	$	(290,290)	$	(229,220)
Denominator:
Weighted-average shares outstanding, basic and diluted	156,580		102,553		149,493		106,814		141,545		111,767
Net loss per share, basic and diluted	$	(1.16)	$	(1.16)	$	(1.90)	$	(1.90)	$	(2.05)	$	(2.05)

The potential weighted average dilutive securities that were not included in the dilutive earnings per share calculation because the effect would be anti-dilutive are as follows (shares in thousands):


	Fiscal Year Ended June 30,
	2024	2023	2022
Class A Common Stock options	—	—	1
Class A Common Stock RSU awards	8,320	7,426	3,736
Class A Common Stock restricted stock awards	23	17	82
Total potentially dilutive securities	8,343	7,443	3,819

Income Taxes

12 Months Ended

Jun. 30, 2024

Income Tax Disclosure [Abstract]

Income Taxes

17. Income Taxes

The components of loss before provision for income taxes by U.S. and foreign jurisdictions consist of the following (in thousands):


	Fiscal Year Ended June 30,
	2024		2023		2022
Domestic	$	(139,687)	$	(25,250)	$	(480,982)
Foreign	54,280		(285,886)		10,044
Total	$	(85,407)	$	(311,136)	$	(470,938)

The provision for income taxes consists of the following (in thousands):


	Fiscal Year Ended June 30,
	2024		2023		2022
Current:
Federal	$	2,134	$	4,327	$	280
State	3,969		1,045		570
Foreign	209,002		162,072		51,040
Total	215,105		167,444		51,890
Deferred:
Federal	(14,030)		1,467		(44)
State	3,680		(1,066)		(1,641)
Foreign	10,357		7,780		(1,633)
Total	7		8,181		(3,318)
Total provision for income taxes	$	215,112	$	175,625	$	48,572

The effective income tax rate differs from the federal statutory income tax rate applied to the loss before income taxes due to the following (in thousands):


	Fiscal Year Ended June 30,
	2024			2023			2022
Tax at federal statutory rate	$	(17,935)		$	(65,339)		$	(98,897)
State, net of the federal benefit	16,362			13,042			13,363
Effects of non-U.S. operations	(14,575)			15,163			(6,879)
Tax credits	(151,912)			(99,398)			(107,956)
Stock-based compensation	123,719			80,471			(41,692)
Non-deductible executive compensation	6,721			6,022			13,580
Non-deductible charges relating to the exchangeable senior notes	—			—			89,188

Australian R&D deductions forgone in lieu of R&D credit	29,502			30,303			32,661
Foreign taxes	(131)			2,457			4,491
Basis difference in investments	14,615			(43,564)			(36,853)
Change in reserves	32,505			132,528			14,179
Change in valuation allowance	174,994			98,613			172,033
Other	1,247			5,327			1,354
Provision for income taxes	$	215,112		$	175,625		$	48,572
Effective Tax Rate (%)	(252)		%	(56)		%	(10)		%

Significant components of the Company's deferred tax assets and deferred tax liabilities are shown below (in thousands). Where necessary, a valuation allowance has been recognized to offset our deferred tax assets by the amount of any tax benefits that are not expected to be realized.


	As of June 30,
	2024		2023
Deferred tax assets:
Property and equipment	$	7,748	$	5,528
Net operating loss carryforwards	779,554		857,944
Credit carryforwards	252,444		183,520
Operating lease liabilities	62,300		64,774
Basis differences in investments	1,811,999		1,690,440
Provisions, accruals and prepayments	58,820		36,255
Deferred revenue	306,629		208,541
Capitalized research and development	81,503		28,330
Other, net	717		(1,973)
Total deferred tax assets	3,361,714		3,073,359
Less valuation allowance	(3,268,643)		(3,019,080)
Total deferred tax assets, net of valuation allowance	93,071		54,279

Deferred tax liabilities:
Unrealized foreign currency exchange losses	2,705		3,087
Unrealized investment gains	1,007		11,684
Operating right of use assets	47,825		48,119
Stock-based compensation	5,526		(7,246)
Intangible assets	52,461		(641)
Total deferred tax liabilities	109,524		55,003
Net deferred tax liabilities	$	(16,453)	$	(724)

The Company recorded a valuation allowance of $3.3 billion, $3.0 billion and $2.9 billion as of June 30, 2024, 2023, and 2022, respectively, primarily relating to the basis difference of the U.S. investment in a wholly owned partnership, U.S. and Australian net operating loss and credit carryforwards, and the deferred revenue deferred tax assets. The change in valuation allowance as of June 30, 2024, 2023 and 2022, was primarily related to an increase in the basis difference of the US investment in a wholly owned partnership and an increase in the deferred revenue deferred tax assets and certain credit carryforwards, offset by the utilization of U.S. federal and state net operating losses. The Company regularly assesses the realizability of its deferred tax assets and establishes a valuation allowance if it is more likely than not that some or all of its deferred tax assets will not be realized. The Company evaluates and weighs all positive and negative evidence such as historic results, future reversals of deferred tax liabilities, projected future taxable income, as well as prudent and feasible tax planning strategies. The assessment requires significant judgement and is performed in each of the applicable jurisdictions. The Company intends to maintain a full valuation allowance on its federal deferred tax assets in the U.S. and Australia until there is sufficient positive evidence to support their reversal.

As of June 30, 2024, the Company had U.S. federal, state, and foreign net operating loss carryforwards of $799.8 million tax effected. Of the $701.1 million tax effected U.S. federal net operating loss carryforwards, $700.8 million may be carried forward indefinitely, and the remaining $0.3 million will begin to expire in 2032. The state net operating loss carryforwards of $96.4 million tax effected begin to expire in 2024. As of June 30, 2024, the Company also had research and development federal and state tax credits of $263.1 million. The federal tax credit carryforwards will expire beginning in 2035 if not utilized. The state tax credit carryforwards do not expire except for the State research and development credits of Texas which begins to expire in June 2038. Utilization of the Company’s US net operating loss and tax credit carryforwards may be subject to annual limitation due to the ownership change limitations provided by the Internal Revenue Code and similar state provisions. Such an annual limitation could result in the expiration of the net operating loss and tax credit carryforwards before utilization. As of June 30, 2024, the Company also had Polish R&D credits of $8.3 million, which will begin to expire in 2027, but which may also be used to satisfy payroll tax liabilities in the future.

The Inflation Reduction Act of 2022 (the “IRA”) was enacted on August 16, 2022 and includes various corporate tax provisions, including a new Corporate Alternative Minimum Tax (“Corporate AMT”) on applicable corporations with adjusted financial statement income exceeding $1 billion, on average, over the last three years. The Corporate AMT is effective for tax years beginning after December 31, 2022. As of June 30, 2024, the newly enacted IRA tax provisions are not material to the Company.

The Organization for Economic Cooperation and Development released Pillar Two model rules defining a 15% global minimum tax for multinational corporations. Many countries in which we operate, including the member states of the EU, have enacted Pillar Two. Pillar Two rules apply to us beginning in our fiscal year 2025. Based on enacted laws, Pillar Two is not expected to materially impact our effective tax rate or cash flows in fiscal year 2025. New legislation or guidance could change our current assessment.

U.S. income tax has not been recognized on the excess of the amount for financial reporting over the tax basis of investment in foreign subsidiaries that is indefinitely reinvested outside the United States. Un-remitted earnings become taxable upon repatriation of assets from the subsidiary or a sale or liquidation of the subsidiary. The amount of such un-remitted earnings is approximately $802.6 million as of June 30, 2024, and the corresponding unrecognized deferred tax liability is not material.

The Company recognizes the tax benefit of an uncertain tax position only if it concludes it is more likely than not that the position is sustainable upon examination by the taxing authority, based on the technical merits. The tax benefit recognized is measured as the largest amount of benefit which is greater than 50 percent likely to be realized upon settlement with the taxing authority. A reconciliation of the beginning and ending balance of total unrecognized tax benefits is as follows (in thousands):


	Fiscal Year Ended June 30,
	2024		2023		2022
Beginning of the period	$	122,302	$	53,483	$	37,944
Tax positions taken in prior period:
Gross increases	10,887		112,781		1,031
Gross decreases	—		(198)		—
Tax positions taken in current period:
Gross increases	25,707		15,171		14,542
Settlements	(53,648)		(57,004)		—
Lapse of statute of limitations	—		(32)		(34)
Currency translation effect	(795)		(1,899)		—
End of period	$	104,453	$	122,302	$	53,483

As of June 30, 2024, 2023 and 2022, the Company had gross unrecognized tax benefits of approximately $10.9 million, $113.2 million, and $2.5 million, respectively, that would impact the effective tax rate if recognized.

The Company files income tax returns in the U.S. federal jurisdiction, various state jurisdictions, Australia, and in various other international jurisdictions. Tax years 2012 and forward generally remain open for examination for federal and state tax purposes. Tax years 2017 and forward generally remain open for examination for foreign tax purposes. To the extent utilized in future years’ tax returns, net operating loss carryforwards as of June 30, 2024 and 2023 will remain subject to examination until the respective tax year is closed.

There are differing interpretations of tax laws and regulations, and as a result, disputes may arise with tax authorities involving issues of the timing and amount of deductions and allocations of income among various tax jurisdictions. The Company believes that adequate amounts have been reserved for any adjustments that may ultimately result from these examinations. It is reasonably possible that an immaterial decrease in unrecognized tax benefits may occur during the next 12 months.

During the year ended June 30, 2024, the Company finalized an Advanced Pricing Arrangement with the Australian Taxation Office with respect to its transfer pricing arrangements between Australia and the U.S. that covers the tax years ended June 30, 2019 to June 30, 2025. Pursuant to the terms of the agreement, the Company made a cash settlement payment of approximately $60.5 million of taxes and interest.

The Company believes it is reasonably possible the balance of unrecognized tax benefits could change in the next 12 months due to the completion of ongoing income tax audits. The estimated range of the change is a decrease of $4.2 million to an increase of $4.5 million.

The Company has recognized interest and penalties related to unrecognized tax benefits in the income tax provision of approximately $0.6 million and $5.8 million during fiscal year 2024 and fiscal year 2023, respectively. As of June 30, 2024, there were no accrual balances, and as of June 30, 2023, the accrual balances were $5.8 million. The Company had not recognized any interest and penalties related to unrecognized tax benefits during fiscal year 2022.

The entire disclosure for income tax.

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Subsequent Events	12 Months Ended
Subsequent Events	Jun. 30, 2024
Subsequent Events [Abstract]
Subsequent Events	18. Subsequent Events On August 12, 2024, the Company’s principal U.S. operating subsidiary, Atlassian US, Inc., amended and restated the 2020 Credit Facility to eliminate the term loan facility and establish a $750 million senior unsecured revolving credit facility (the “2024 Credit Facility”). The 2024 Credit Facility bears interest, at the Company’s option, at a base rate or the Secured Overnight Financing Rate, plus, in each case, a spread of 0.875% to 1.50% per annum. In each case the applicable margin will be determined by the consolidated leverage ratio of the Company and its subsidiaries, or, following the Company’s one time option, the Company’s credit rating. The Company may repay outstanding loans under the 2024 Credit Facility at any time, without premium or penalty, and the Company has the option to request an increase of $250 million in certain circumstances. The 2024 Credit Facility matures in August 2029. The Company is also obligated to pay a commitment fee on the undrawn amounts of the 2024 Credit Facility at an annual rate ranging from 0.075% to 0.20%, determined by the Company’s consolidated leverage ratio, or, following the Company’s one time option, the Company’s credit rating. The 2024 Credit Facility requires compliance with various financial and non-financial covenants, including affirmative and negative covenants. The financial covenants include a maximum consolidated leverage ratio of 3.5x, which increases to 4.5x during the period of four fiscal quarters immediately following a material acquisition.

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Pay vs Performance Disclosure
Net loss	$ (300,519)	$ (486,761)	$ (519,510)

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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Principles of Consolidation

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Insider Trading Policies and Procedures	12 Months Ended
Insider Trading Policies and Procedures	Jun. 30, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Jun. 30, 2024

Accounting Policies [Abstract]

Basis of Preparation

The accompanying consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). These principles are established primarily by the Financial Accounting Standards Board (“FASB”).

The accompanying consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation.

Use of Estimates

The preparation of the consolidated financial statements in conformity with GAAP requires management to make certain estimates and assumptions in the Company’s consolidated financial statements. These estimates are based on information available as of the date of the consolidated financial statements. Such management estimates and assumptions include, but are not limited to the determination of:

•the standalone selling price (“SSP”) of performance obligations for revenue contracts with multiple performance obligations;

•the fair value of assets acquired and liabilities assumed for business combinations;

•the recognition, measurement and valuation of current and deferred income taxes and uncertain tax positions.

Actual results could differ materially from these estimates.

Segment

The Company operates as a single operating segment. An operating segment is defined as a component of an entity for which discrete financial information is available and whose results of operations are regularly reviewed

by the chief operating decision maker (“CODM”). The Company’s CODMs are its Co-Chief Executive Officers, who review its results of operations to make decisions about allocating resources and assessing performance based on consolidated financial information. Accordingly, the Company has determined it operates as a single operating and reportable segment.

Foreign Currency

The Company’s consolidated financial statements are presented using the U.S. dollar, which is its reporting currency. The functional currency for certain of the Company’s foreign subsidiaries is the U.S. dollar, while others use local currencies. The Company translates the foreign functional currency financial statements to U.S. dollars for those entities that do not have the U.S. dollar as their functional currency using the exchange rates at the balance sheet date for assets and liabilities, the period average exchange rates for revenues and expenses, and the historical exchange rates for equity transactions. The effects of foreign currency translation adjustments are recorded in accumulated other comprehensive income in the Consolidated Statements of Comprehensive Loss. Foreign currency transaction gains and losses are included in other income (expense), net on the Consolidated Statements of Operations.

Revenue Recognition

Policies, Estimates and Judgments

Revenues are generally recognized upon the transfer of control of promised products or services provided to customers, reflecting the amount of consideration the Company expects to receive for those products or services. The Company enters into contracts that can include various combinations of products and services, which are generally capable of being distinct and accounted for as separate performance obligations. Revenue is recognized net of sales and other similar taxes collected from customers, which are subsequently remitted to governmental authorities.

Revenues are recognized upon the application of the following steps:

1.Identification of the contract or contracts with a customer;

2.Identification of the performance obligations in the contract;

3.Determination of the transaction price;

4.Allocation of the transaction price to the performance obligations in the contract; and

5.Recognition of revenue when, or as, the performance obligation is satisfied.

The timing of revenue recognition may differ from the timing of billing to our customers. The Company receives payments from customers based on a billing schedule as established in its contracts. Contract assets are recognized when performance is completed in advance of billings. Deferred revenue is recorded when billings are in advance of performance under the contract. The Company’s revenue arrangements include standard warranty provisions that the products and services will perform and operate in all material respects with the applicable published specifications, the financial impacts of which have historically been and are expected to continue to be insignificant. The Company’s contracts do not include a significant financing component.

Customer contracts often include promises to transfer multiple products and services to a customer.

The Company allocates the transaction price for each customer contract to each performance obligation based on the relative SSP for each distinct performance obligation. Judgment is required in determining the SSP for each distinct performance obligation. The Company typically determines an SSP range for its products and services, which is reassessed on a periodic basis or when facts and circumstances change. In most cases, the Company is able to determine SSP based on the observable prices of products or services sold separately. In instances where performance obligations do not have observable standalone sales, the Company utilizes available information that may include market conditions, pricing strategies, the life of the software, and other observable inputs to estimate the price that it would charge if the products and services were sold separately.

Revenue recognized from contracts with customers is disaggregated into categories that depict how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors. The Company reports revenues in three categories: (i) subscription, (ii) maintenance, and (iii) other. In addition, revenue is presented by geographic region and deployment option in Note 13, “Revenue.”

Subscription Revenues

Subscription revenues consist primarily of fees earned from subscription-based arrangements for providing customers the right to use the Company’s software in a cloud-based-infrastructure that the Company provides (“Cloud offerings”). The Company also sells on-premises term license agreements for its Data Center products (“Data Center offerings”), consisting of software licensed for a specified period and support and maintenance services that are bundled with the license for the term of the license period. Subscription revenues are driven primarily by the number and size of active licenses, the type of product and the price of the licenses. Subscription-based arrangements generally have a contractual term of one to twelve months. For Cloud offerings, subscription revenue is recognized ratably as services are delivered, commencing with the date the service is made available to customers. For Data Center offerings, the Company recognizes revenue upfront for the portion that relates to the delivery of the term license and the support revenue is recognized ratably as the services are delivered over the term of the arrangement. The revenue recognition policy is consistent for subscription sales generated directly with customers and sales generated indirectly through solution partners and resellers.

Maintenance Revenues

Maintenance revenues represented fees earned from providing customers with unspecified future updates, upgrades and enhancements and technical product support on an if-and-when-available basis for perpetual license products purchased and operated by our customers on their premises (“Server offerings”). Maintenance revenue was recognized ratably over the term of the support period. The Company generally ended maintenance and support for Server offerings in February 2024.

Other Revenues

Other revenues primarily include fees received for sales of third-party apps in the Atlassian Marketplace. Advisory services and training services are also included in other revenues. Revenue from the sale of third-party apps via the Atlassian Marketplace is recognized on the date of product delivery given that all of our obligations have been met at that time and on a net basis as the Company functions as the agent in the relationship. Revenue from advisory services is recognized over the time period that the customer has access to the service. Revenue from consulting and training is recognized over time as the services are performed.

Deferred Contract Acquisition Costs

Deferred contract acquisition costs are costs incurred to obtain a contract, if such costs are recoverable, and consist primarily of sales commissions and related payroll taxes. Incremental costs of obtaining a contract are earned on new and expansion contracts which are capitalized and amortized over the average period of benefit, which the Company estimates to be four years. The Company does not pay sales commissions upon contract renewal.

The Company determines the period of benefit for commissions paid for the acquisition of the customer contract by taking into consideration the initial estimated customer life, anticipated renewals, and the technological life of our software. The Company includes the deferred contract costs in prepaid expense and other current assets and other non-current assets on the Consolidated Balance Sheets and the amortization of deferred contract acquisition costs in marketing and sales expense on the Consolidated Statements of Operations.

Cash Cash Equivalents and Restricted Cash

Cash and cash equivalents consist of highly liquid investments with an original maturity of three months or less at the date of purchase. Cash equivalents also include amounts due from third-party credit card processors as they are both short-term and highly liquid in nature and are typically converted to cash within three days of the sales transaction. Cash and cash equivalents are stated at fair value.

Accounts Receivable, net

The Company records trade accounts receivable at the invoice value, and such receivables are non-interest bearing. The Company considers receivables past due based on the contractual payment terms. The Company makes estimates of expected credit and collectability trends based on an assessment of various factors including

historical credit loss experience, adjusted for forward-looking factors specific to the debtors and the economic environment that may affect our ability to collect from customers.

Fair Value Measurements

Fair value is defined as the exchange price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. The fair value hierarchy prioritizes the quality and reliability of the information used to determine fair values. Categorization within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The fair value hierarchy is defined into the following three categories of inputs:

•Level 1 - Quoted (unadjusted) market prices in active markets for identical assets or liabilities;

•Level 2 - Observable inputs (other than Level 1 prices) such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities;

•Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or examination.

Marketable Securities

The Company classifies all marketable debt securities that have original stated maturities of greater than three months as marketable securities on its Consolidated Balance Sheets. The Company determines the appropriate classification of its investments in marketable debt securities at the time of purchase and reevaluates such designation at each balance sheet date. The Company has classified and accounted for its marketable debt securities as available-for-sale (“AFS”). After consideration of its risk versus reward objectives, as well as its liquidity requirements, the Company may sell these debt securities prior to their stated maturities. The Company considers all of our marketable securities as funds available for use in current operations, including those with maturity dates beyond one year, and therefore classifies these securities as current assets on the Consolidated Balance Sheets.

The Company evaluates AFS securities with unrealized loss positions for credit loss by assessing whether the decline in fair value below the amortized cost basis has resulted from a credit loss or other factors, whether the Company expects to recover the entire amortized cost basis of the security, its intent to sell and whether it is more likely than not that the Company will be required to sell the securities before the recovery of their amortized cost basis. The Company carries these securities at fair value, and reports the unrealized gains and losses, net of taxes, as a component of accumulated other comprehensive income except for the changes in allowance for expected credit losses, which are recorded in other income (expense), net. Realized gains and losses are determined based on the specific identification method and are reported in other income (expense), net on the Consolidated Statements of Operations.

Strategic Investments

The Company holds strategic investments in privately held debt and equity securities, as well as publicly held equity securities in which the Company does not have a controlling interest.

Investments in privately held debt securities are classified as AFS securities. Investments in publicly held equity securities are recorded at fair value with changes in the fair value of the investments recorded in other income (expense), net in the Consolidated Statements of Operations.

Investments in privately held equity securities without readily determinable fair values in which the Company does not own a controlling interest or have significant influence over are measured in accordance with the measurement alternative. In applying the measurement alternative, the carrying value of the investment is measured at cost, less impairment, if any, plus or minus changes resulting from observable price changes from orderly transactions for the identical or a similar investment of the same issuer in the period of occurrence. Changes to the carrying value of these investments are recorded through other income (expense), net on the Consolidated Statements of Operations.

In determining adjustments to the carrying value of its strategic investments in privately held companies, the Company uses the most recent data available to the Company. Valuations of privately held securities are inherently complex and the determination of whether an orderly transaction is for an identical or similar investment requires judgment. In its evaluation, the Company considers factors such as differences in the rights and preferences of the investments and the extent to which those differences would affect the fair values of those investments. The Company’s impairment analysis encompasses an assessment of both qualitative and quantitative factors including the investee’s financial metrics, market acceptance of the investee’s product or technology, general market conditions and liquidity considerations.

Equity Method Investments

Privately held equity securities in which the Company does not have a controlling financial interest but does exercise significant influence over the investment are accounted for under the equity method. The Company records a proportionate share of the investment’s earnings or losses, and impairment, if any, as a component of other income (expense), net in the Consolidated Statements of Operations. These investments are included in strategic investments in the Consolidated Balance Sheets.

Variable Interest Entities

For entities that meet the definition of a variable interest entity (“VIE”), the Company consolidates those entities when the Company is the primary beneficiary of the entity. The Company is determined to be the primary beneficiary when it possesses both the unilateral power to direct activities that most significantly impact the economic performance of the VIE and the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. The Company continually evaluates whether it qualifies as the primary beneficiary and reconsiders its determination of whether an entity is a VIE upon reconsideration events.

Derivative Financial Instruments

The Company enters into foreign exchange forward contracts with the objective to mitigate certain currency risks associated with cost of revenues and operating expenses denominated in foreign currencies. These foreign exchange forward contracts are designated as cash flow hedges. The Company also enters into foreign exchange forward contracts to hedge a portion of certain foreign currency denominated as monetary assets and liabilities to reduce the risk that such foreign currency will be adversely affected by changes in exchange rates. The Company uses interest rate swaps to hedge the variability of cash flows in the interest payments associated with its variable-rate debt due to changes in the Secured Overnight Financing Rate (“SOFR”) based floating interest rate. The interest rate swaps are designated as cash flow hedges and involve interest obligations for U.S. dollar-denominated amounts. The Company does not enter into derivative instrument transactions for trading or speculative purposes. In May 2024, the Company settled its then existing interest rate swap contracts prior to their stated termination dates as a result of the repayment of the Term Loan (defined in Note 11, “Debt.”). Gains resulting from the early termination of interest rate swap contracts are deferred and amortized as adjustments to interest expense over the remaining period of the debt originally covered by the terminated swap contracts.

Hedging derivative instruments are recognized as either assets or liabilities and are measured at fair value. For derivative instruments designated as cash flow hedges, the gains (losses) on the derivatives are initially reported as a component of other comprehensive income and are subsequently recognized in earnings when the hedged exposure is recognized in earnings. For derivative instruments that are not designated as hedges, gains (losses) from changes in fair values are primarily recognized in other income (expense), net. The Company enters into master netting agreements with financial institutions to execute its hedging program. The master netting agreements are with select financial institutions to reduce the Company’s credit risk, as well as to reduce its concentration of risk with any single counterparty.

Property and Equipment

Property and equipment are stated at cost, net of accumulated depreciation. Depreciation is calculated using the straight-line method to allocate the cost over the estimated useful lives. The estimated useful lives for each asset class are as follows:


Equipment			3 years
Computer hardware and computer-related software			3 years
Furniture and fittings			5 years
Leasehold improvements			Shorter of the remaining lease term or 7 years

Leases

The Company determines if an arrangement is a lease at inception. The Company’s lease agreements generally contain lease and non-lease components. Payments under the Company’s lease arrangements are primarily fixed. Non-lease components primarily include payments for maintenance and utilities. The Company combines fixed payments for non-lease components with lease payments and account for them together as a single lease component which increases the amount of its lease assets and liabilities.

Certain lease agreements contain variable payments, which are expensed as incurred and not included in the lease assets and liabilities. These amounts include payments affected by the Consumer Price Index and payments for maintenance and utilities.

Lease assets and liabilities are recognized at the present value of the future lease payments at the lease commencement date. The interest rate used to determine the present value of the future lease payments is the Company’s incremental borrowing rate, because the interest rate implicit in the Company’s leases is not readily determinable. The Company’s incremental borrowing rate is estimated to approximate the interest rate on a collateralized basis with similar terms and payments, and in economic environments where the leased asset is located. The Company’s lease terms include periods under options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. The Company generally uses the base, non-cancelable, lease term when determining the lease assets and liabilities. The Company reassesses the lease term if and when a significant event or change in circumstances occurs. Lease assets also include any prepaid lease payments and lease incentives. Operating lease expense (excluding variable lease costs) is recognized on a straight-line basis over the lease term.

The Company applies the short-term lease recognition exemption for short-term leases, which are leases with a lease term of 12 months or less. Payments associated with short-term leases are recognized on a straight-line basis over the lease term.

Business Combinations

The Company allocates the purchase price of acquired companies to the tangible and intangible assets acquired and liabilities assumed, based on their estimated fair values. The excess of the purchase price over the fair values of these identifiable assets and liabilities is recorded as goodwill. Acquisition-related expenses are recognized separately from the business combination and are expensed as incurred.

The Company uses its best estimates and assumptions to assign fair value to the tangible and intangible assets acquired and liabilities assumed at the acquisition date. Assumptions used to estimate the fair value of the intangible assets include, but are not limited to, projected revenue growth, projected operating expenses, and technology migration curves. These estimates are inherently uncertain and subject to refinement and, as a result, actual results may differ from estimates.

During the measurement period, which may not be later than one year from the acquisition date, the Company may record adjustments to the fair value of these tangible and intangible assets acquired and liabilities assumed, with the corresponding offset to goodwill. Upon the conclusion of the measurement period or final determination of the fair value of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to the Consolidated Statements of Operations.

Intangible Assets

The Company acquires intangible assets separately or in connection with business combinations. Intangible assets are measured at cost initially. Intangible assets with finite lives are amortized over their estimated useful life using the straight-line method. The amortization expense on intangible assets is recognized in the Consolidated Statements of Operations in the expense category consistent with the function of the intangible asset.

Impairment of Long-Lived Assets

Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate an asset’s carrying value may not be recoverable. When the projected undiscounted cash flows estimated to be generated by those assets are less than their carrying amounts, the assets are adjusted to their estimated fair value and an impairment loss is recorded as a component of operating income (expense).

Goodwill

Goodwill is the excess of the aggregate of the consideration transferred over the identifiable assets acquired and liabilities assumed.

Goodwill is tested for impairment at least annually during the fourth quarter of the Company’s fiscal year and more often if and when circumstances indicate that the carrying value may be impaired. The Company’s reporting unit is at the operating segment level. The Company performs its goodwill impairment test at the level of its operating segment, as there are no levels below the operating segment level for which discrete financial information is prepared and regularly reviewed by the Company’s CODMs. A qualitative assessment is performed to determine whether it is more likely than not that the fair value of its operating segment is less than it’s carrying amount. If the operating segment does not pass the qualitative assessment, the carrying amount of the operating segment, including goodwill, is compared to fair value and goodwill is considered impaired if the carrying value exceeds its fair value. Any excess is recognized as an impairment loss in current period earnings.

Stock-based Compensation

The Company recognizes compensation expense related to all stock-based awards, including restricted stock units (“RSU”), and restricted stock awards (“RSA”) issued to the Company’s employees in exchange for their service, based on the estimated fair value of the awards on the grant date. The fair value of each RSU or RSA is based on the fair value of the Company’s Class A Common Stock on the date of grant.

The Company recognizes costs related to stock-based awards, net of estimated forfeitures, over the awards’ requisite service period on a straight-line basis, which is generally four years. The Company estimates forfeitures based on historical experience. The respective expenses are recognized as employee benefits and classified in the Consolidated Statements of Operations according to the activities that the employees perform.

Defined Contribution Plan

The Company offers various defined contribution plans for our U.S. and non-U.S. employees. The Company matches a portion of employee contributions each pay period, subject to maximum aggregate matching amounts, or contributes based on local legislative rates for eligible employees.

Advertising Costs

Advertising costs are expensed as incurred as a component of marketing and sales expense in the Consolidated Statements of Operations. Advertising expense was $100.2 million, $89.5 million and $90.3 million for fiscal years 2024, 2023, and 2022, respectively.

Research and Development

Research and development costs are expensed as incurred and consists of the employee, software, and hardware costs incurred for the development of new products, enhancements and updates of existing products and quality assurance activities. The costs incurred for the development of the Company’s cloud-based platform and internal use software are evaluated for capitalization during the development phase. Capitalized software development costs on the Company’s Consolidated Balance Sheet were not material for the periods presented.

Concentration of Credit Risk and Significant Customers

Financial instruments potentially exposing the Company to credit risk consist primarily of cash, cash equivalents, accounts receivable, derivative contracts and investments. The Company holds cash at financial institutions that management believes are high credit, quality financial institutions and invests in investment grade securities rated A- and above and debt securities. The Company’s derivative contracts expose it to credit risk to the extent that the counterparties may be unable to meet the terms of the arrangement. The Company enters into master netting agreements with select financial institutions to reduce its credit risk and trades with several counterparties to reduce its concentration risk with any single counterparty. The Company does not have significant exposure to counterparty credit risk at this time. In addition, the Company does not require nor is required to post collateral of any kind related to any foreign currency derivatives.

Credit risk arising from accounts receivable is mitigated to a certain extent due to our large number of customers and their dispersion across various industries and geographies. The Company’s customer base is highly diversified, thereby limiting credit risk. The Company manages credit risk with customers by closely monitoring its receivables and contract assets. The Company continuously monitors outstanding receivables locally to assess whether there is objective evidence that outstanding accounts receivables and contract assets are credit-impaired.

Income Taxes

The Company uses the asset and liability method of accounting for income taxes. Under this method, deferred income tax assets and liabilities represent temporary differences between the carrying amounts of assets and liabilities in the consolidated financial statements and their corresponding tax basis used in the computation of taxable income. The Company measures deferred tax assets and liabilities using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be reversed. The Company recognizes the effect on deferred tax assets and liabilities of a change in tax rates within the provision for income taxes as expense and income in the period that includes the enactment date. The Company accounts for the tax impact of including Global Intangible Low-Taxed Income in U.S. taxable income as a period cost. A valuation allowance is established if it is more likely than not that all or a portion of the deferred tax asset will not be realized.

Changes in deferred tax assets or liabilities are recognized as a component of benefit from (provision for) income taxes in the Consolidated Statements of Operations, except where they relate to items that are recognized in other comprehensive income or directly in equity, in which case the related deferred tax is also recognized in other comprehensive income or equity, respectively. Where deferred tax arises from the initial accounting for a business combination, the tax effect is included in the accounting for the business combination.

Deferred tax assets are regularly evaluated for future realization and reduced by a valuation allowance to an amount for which realization is more likely than not. In making such a determination, the Company considers all available positive and negative evidence, including future reversals of existing temporary differences, projected future taxable income, tax planning strategies, carry back potential if permitted under the tax law, and results of recent operations. Significant management judgment is required to determine the amount of deferred tax assets that can be recognized, based upon the likely timing and the amount of future taxable income, together with future tax-planning strategies. Assumptions about the generation of future taxable income depend on management’s estimates of future cash flows, future business expectations, capital expenditures, dividends, and other capital management transactions. Management judgment is also required in relation to the application of income tax legislation, which involves complexity and an element of uncertainty. In the event there is a change in the Company’s assessment of its ability to recover deferred tax assets, the income tax provision would be adjusted accordingly, resulting in a corresponding adjustment to the Consolidated Statements of Operations.

Uncertain tax positions are recorded in accordance with Accounting Standards Codification Topic 740 Income Taxes (“ASC 740”), Income Taxes. ASC 740 specifies a two-step process in which (1) the Company determines whether it’s more likely than not that tax positions will be sustained on the basis of the technical merits of the position, and (2) for those positions that meet the more-likely-than-not recognition threshold, the Company recognizes the largest amount of tax benefit that is more likely than not to be realized upon ultimate settlement with the related tax authority. The Company considers many factors when evaluating uncertain tax positions, which involve significant judgement and may require periodic reassessment. The Company recognizes interest and penalties related to unrecognized tax benefits as a component of income tax expense.

New Accounting Standards Not Yet Adopted

In June 2022, the FASB issued Accounting Standards Update (“ASU”) No. 2022-03 “Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restriction.” This ASU clarifies that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring fair value. This amendment also requires public entities to add certain disclosures for equity securities subject to contractual sale restrictions. This ASU is effective for fiscal years beginning after December 15, 2023. The Company is currently evaluating the impact of the new guidance and does not expect it to have a material impact on its consolidated financial statements.

In November 2023, the FASB issued ASU No. 2023-07 “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.” This ASU expands public entities’ segment disclosures by requiring disclosure of significant segment expenses that are regularly provided to the chief operating decision maker and included within each reported measure of segment profit or loss, an amount and description of its composition for other segment items, and interim disclosures of a reportable segment’s profit or loss and assets. All disclosure requirements under ASU 2023-07 are also required for public entities with a single reportable segment. This ASU is effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024 with early adoption permitted and requires retrospective application to all prior periods. The Company is currently evaluating the impact of the new guidance and does not expect it to have a material impact on its consolidated financial statements.

In December 2023, the FASB issued ASU No. 2023-09 “Income Taxes (Topic 740): Improvements to Income Tax Disclosures.” This ASU requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid. This ASU is effective for fiscal years beginning after December 15, 2024. The Company is currently evaluating the impact of the new guidance and does not expect it to have a material impact on its consolidated financial statements.

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Jun. 30, 2024

Accounting Policies [Abstract]

Schedule of Estimated Useful Lives

The estimated useful lives for each asset class are as follows:


Equipment			3 years
Computer hardware and computer-related software			3 years
Furniture and fittings			5 years
Leasehold improvements			Shorter of the remaining lease term or 7 years

Property and equipment, net consisted of the following (in thousands):


	As of June 30,
	2024		2023
Equipment	$	11,200	$	9,298
Computer hardware and software	40,824		29,801
Furniture and fittings	25,172		24,773
Leasehold improvements and other	137,944		123,125

Property and equipment, gross	215,140		186,997
Less: accumulated depreciation and impairment	(128,825)		(105,595)
Property and equipment, net	$	86,315	$	81,402

Schedule of Estimated Useful Lives for Intangible Assets

The estimated useful lives for each intangible asset class are as follows:


Patents, trademarks and other rights			5 - 12 years
Customer relationships			5 - 10 years
Acquired developed technology			4 - 7 years

Intangible assets consisted of the following (in thousands):


	As of June 30,				Weighted-Average Remaining Useful Lives (Years)
	2024		2023
Acquired developed technology	$	469,752	$	235,818	6
Patents, trade names, and other rights	70,928		33,393		7
Customer relationships	135,687		129,502		4
Intangible assets, gross	676,367		398,713
Less: accumulated amortization	(377,310)		(329,641)
Intangible assets, net	$	299,057	$	69,072

Fair Value Measurements (Tables)

12 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table presents the Company’s financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2024, by level within the fair value hierarchy (in thousands):


	Level 1		Level 2		Total

Assets measured at fair value
Cash and cash equivalents:
Money market funds	$	1,563,234	$	—	$	1,563,234





Marketable securities:
U.S. treasury securities	—		52,517		52,517
Agency securities	—		3,199		3,199
Certificates of deposit and time deposits	—		10,000		10,000
Commercial paper	—		20,010		20,010
Corporate debt securities	—		76,247		76,247



Derivative financial instruments	—		9,292		9,292






Total assets measured at fair value	$	1,563,234	$	171,265	$	1,734,499

Liabilities measured at fair value
Derivative financial instruments	$	—	$	1,701	$	1,701



Total liabilities measured at fair value	$	—	$	1,701	$	1,701

The following table presents the Company’s financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2023, by level within the fair value hierarchy (in thousands):


	Level 1		Level 2		Total
Assets measured at fair value
Cash and cash equivalents:
Money market funds	$	1,338,509	$	—	$	1,338,509






Marketable securities:


Certificates of deposit and time deposits	—		10,000		10,000




Derivative financial instruments	—		64,210		64,210





Strategic investments:

Publicly traded equity securities	19,365		—		19,365


Total assets measured at fair value	$	1,357,874	$	74,210	$	1,432,084

Liabilities measured at fair value
Derivative financial instruments	$	—	$	10,114	$	10,114






Total liabilities measured at fair value	$	—	$	10,114	$	10,114

Investments (Tables)

12 Months Ended

Jun. 30, 2024

Investments, Debt and Equity Securities [Abstract]

Schedule of Available-for-Sale Securities Reconciliation

The Company’s investments of marketable securities as of June 30, 2024, consisted of the following (in thousands):


	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
Marketable securities
U.S. treasury securities	$	52,570	$	30	$	(83)	$	52,517
Agency securities	3,194		5		—		3,199
Certificates of deposit and time deposits	10,000		—		—		10,000
Commercial paper	20,010		—		—		20,010
Corporate debt securities	76,386		7		(146)		76,247


Total marketable securities	$	162,160	$	42	$	(229)	$	161,973

The Company’s investments of marketable securities as of June 30, 2023, consisted of the following (in thousands):


	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value


Certificates of deposit and time deposits	$	10,000	—		—		$	10,000





Total marketable securities	$	10,000	$	—	$	—	$	10,000

Investments Classified by Contractual Maturity Date

The table below summarizes the Company’s marketable securities by remaining contractual maturity based on their effective maturity dates (in thousands):


	June 30, 2024		June 30, 2023
Due in one year or less	$	101,543	$	10,000
Due in one year through five years	60,430		—
Total marketable debt investments	$	161,973	$	10,000

Schedule of Strategic Investments

The Company’s investments of privately held debt securities as of June 30, 2024, consisted of the following (in thousands):


	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
Privately held debt securities	$	6,800	$	—	$	(3,350)	$	3,450

The Company’s investments of privately held debt securities as of June 30, 2023, consisted of the following (in thousands):


	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
Privately held debt securities	$	8,800	$	—	$	(3,350)	$	5,450


	Privately held equity securities
Initial total cost	$	147,752
Cumulative net losses	(2,491)
Carrying value	$	145,261

The carrying values for publicly traded and privately held equity securities as of June 30, 2023 are summarized below (in thousands):


	Publicly traded equity securities		Privately held equity securities		Total
Initial total cost	$	10,270	$	135,050	$	145,320
Cumulative net gains (losses)	9,095		(398)		$	8,697
Carrying value	$	19,365	$	134,652	$	154,017

Unrealized Gain (Loss) on Investments

The components of gains and losses on strategic investments were as follows (in thousands):


	Fiscal Year Ended June 30,
	2024		2023		2022
Unrealized losses recognized on publicly traded equity securities	$	—	$	(11,437)	$	(79,608)
Unrealized gains recognized on privately held equity securities	2,084		307		6,945
Unrealized losses recognized on privately held equity securities including impairment	(1,628)		(7,642)		—
Unrealized losses on privately held debt securities	(500)		(350)		—
Unrealized losses, net	$	(44)	$	(19,122)	$	(72,663)
Realized gains recognized on publicly traded equity securities	515		—		—
Realized losses recognized on privately held equity securities	(2,546)		—		—
Realized losses on debt securities	—		(285)		—
Losses on strategic investments, net	$	(2,075)	$	(19,407)	$	(72,663)
Unrealized gains (losses) recognized during the reporting period on privately held equity securities still held at the reporting date	$	456	$	(6,986)	$	6,945

Equity Method Investments

The following table sets forth the carrying amounts of the equity method investment and the movements during fiscal years 2023 and 2024 (in thousands):


	Equity Method Investment
Balance as of July 20, 2022	$	88,853
Effect of change in exchange rates	(3,417)
Balance as of June 30, 2023	85,436
Share of losses	(11,262)
Effect of change in exchange rates	336
Balance as of June 30, 2024	$	74,510

Derivative Contracts (Tables)

12 Months Ended

Jun. 30, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Notional Amounts of Outstanding Derivative Positions

The following table sets forth the notional amounts of the Company’s hedging derivative instruments as of June 30, 2024 (in thousands):


	Notional Amounts of Derivative Instruments
	Notional Amount by Term to Maturity						Classification by Notional Amount
	Under 12 months		Over 12 months		Total		Cash Flow Hedge		Non Hedge		Total
Forward contracts	$	837,182	$	71,701	$	908,883	$	651,303	$	257,580	$	908,883

The following table sets forth the notional amounts of the Company’s hedging derivative instruments as of June 30, 2023 (in thousands, except for average interest rate):


	Notional Amounts of Derivative Instruments
	Notional Amount by Term to Maturity								Classification by Notional Amount
	Under 12 months		Over 12 months			Total			Cash Flow Hedge			Non Hedge		Total
Forward contracts	$	849,811	$	35,181		$	884,992		$	532,059		$	352,933	$	884,992
Interest rate swaps:
Notional amount	$	—	$	650,000		$	650,000		$	650,000		$	—	$	650,000
Average fixed interest rate			0.81		%	0.81		%	0.81		%			0.81		%

Schedule of Fair Value of Derivative Instruments

The fair value of the Company’s derivative instruments were as follows (in thousands):


		As of June 30,
	Balance Sheet Location	2024		2023
Derivative assets
Derivatives designated as hedging instruments:
Foreign exchange forward contracts	Prepaid expenses and other current assets	$	8,255	$	3,177
Foreign exchange forward contracts	Other non-current assets	867		—
Interest rate swaps	Prepaid expenses and other current assets	—		28,926
Interest rate swaps	Other non-current assets	—		28,215
Derivatives not designated as hedging instruments:
Foreign exchange forward contracts	Prepaid expenses and other current assets	170		3,892
Total derivative assets		$	9,292	$	64,210
Derivative liabilities
Derivatives designated as hedging instruments:
Foreign exchange forward contracts	Accrued expenses and other current liabilities	$	1,197	$	9,657
Foreign exchange forward contracts	Other non-current liabilities	7		209
Derivatives not designated as hedging instruments:
Foreign exchange forward contracts	Accrued expenses and other current liabilities	497		248
Total derivative liabilities		$	1,701	$	10,114

Schedule of Pre-Tax Effects of Derivatives Designated as Cash Flow Hedging Instruments

The pre-tax effects of derivatives designated as cash flow hedging instruments on the consolidated financial statements were as follows (in thousands):



	Fiscal Year Ended June 30,
	2024		2023		2022

Beginning balance of accumulated gains (losses) in accumulated other comprehensive income	$	48,170	$	24,502	$	(2,936)
Gross unrealized gains recognized in other comprehensive income	10,826		17,952		11,421

Net losses (gains) reclassified from cash flow hedge in accumulated other comprehensive income into profit or loss:
Recognized in cost of revenues	1,072		1,831		525
Recognized in research and development	7,718		16,890		10,513
Recognized in marketing and sales	1,264		1,337		220
Recognized in general and administrative	2,320		5,563		1,606
Recognized in interest	(29,946)		(19,905)		3,153
Ending balance of accumulated gains in accumulated other comprehensive income	$	41,424	$	48,170	$	24,502

Property and Equipment (Tables)

12 Months Ended

Jun. 30, 2024

Property, Plant and Equipment [Abstract]

Property and Equipment, Net

The estimated useful lives for each asset class are as follows:


Equipment			3 years
Computer hardware and computer-related software			3 years
Furniture and fittings			5 years
Leasehold improvements			Shorter of the remaining lease term or 7 years

Property and equipment, net consisted of the following (in thousands):


	As of June 30,
	2024		2023
Equipment	$	11,200	$	9,298
Computer hardware and software	40,824		29,801
Furniture and fittings	25,172		24,773
Leasehold improvements and other	137,944		123,125

Property and equipment, gross	215,140		186,997
Less: accumulated depreciation and impairment	(128,825)		(105,595)
Property and equipment, net	$	86,315	$	81,402

Business Combinations (Tables)

12 Months Ended

Jun. 30, 2024

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the preliminary fair values of assets acquired and liabilities assumed as of the date of acquisition (in thousands):


	Fair Value
Cash and cash equivalents	$	59,265
Marketable securities	43,494




Intangible assets, net	272,300
Goodwill	544,828
Other assets	3,941

Deferred revenue, current portion	(16,145)


Deferred tax liabilities	(15,668)
Other liabilities	(6,391)
Net assets acquired	$	885,624

Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination

The following table sets forth the components of identifiable intangible assets acquired and their estimated useful lives as of the date of acquisition:


	Fair Value		Useful Life
Developed technology	$	230,000	7
Trade name	37,000		8
Other purchased intangible assets	5,300		5

Goodwill and Intangible Assets (Tables)

12 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

Goodwill consisted of the following (in thousands):


	Goodwill
Balance as of June 30, 2022	$	722,838
Additions	3,300
Effect of change in exchange rates	1,073
Balance as of June 30, 2023	727,211
Additions	561,372
Effect of change in exchange rates	173
Balance as of June 30, 2024	$	1,288,756

Schedule of Finite-Lived Intangible Assets

The estimated useful lives for each intangible asset class are as follows:


Patents, trademarks and other rights			5 - 12 years
Customer relationships			5 - 10 years
Acquired developed technology			4 - 7 years

Intangible assets consisted of the following (in thousands):


	As of June 30,				Weighted-Average Remaining Useful Lives (Years)
	2024		2023
Acquired developed technology	$	469,752	$	235,818	6
Patents, trade names, and other rights	70,928		33,393		7
Customer relationships	135,687		129,502		4
Intangible assets, gross	676,367		398,713
Less: accumulated amortization	(377,310)		(329,641)
Intangible assets, net	$	299,057	$	69,072

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

The following table presents the estimated future amortization expense related to intangible assets held as of June 30, 2024 (in thousands):


Fiscal Years:
2025	$	55,243
2026	52,705
2027	47,536
2028	45,309
2029	40,076
Thereafter	58,188
Total future amortization expense	$	299,057

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
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-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
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-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
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-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
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-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
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-SubTopic 20
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-Section 50
-Paragraph 1
-Subparagraph (d)
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
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-SubTopic 20
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-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
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-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-2

Other Liabilities Disclosure [Abstract]

Accrued Expenses and Other Current Liabilities (Tables)

12 Months Ended

Jun. 30, 2024

Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consist of the following (in thousands):


	As of June 30,
	2024		2023
Accrued expenses	$	149,046	$	107,479
Employee benefits	332,518		191,801
Tax liabilities	55,203		88,748
Customer deposits	19,279		11,784


Other payables	21,313		23,319
Total accrued expenses and other current liabilities	$	577,359	$	423,131

Leases (Tables)

12 Months Ended

Jun. 30, 2024

Leases [Abstract]

Lease, Cost

The components of lease costs and other information related to leases were as follows (in thousands):


	Fiscal Year Ended June 30,
	2024			2023			2022
Operating lease costs	$	41,426		$	50,134		$	49,647
Variable lease costs	11,908			13,094			12,077
Total lease costs	$	53,334		$	63,228		$	61,724

Weighted average remaining lease term (in years)	6			7			8
Weighted average discount rate	2.9		%	2.5		%	2.4		%

Supplemental cash flow information related to operating leases were as follows (in thousands):


	Fiscal Year Ended June 30,
	2024		2023		2022
Cash payments for operating leases	$	49,803	$	41,493	$	49,142
Right-of-use assets obtained in exchange for new operating lease liabilities	$	23,265	$	3,580	$	105,961

Lessee, Operating Lease, Liability, Maturity

Future lease payments under non-cancelable operating leases with initial lease terms in excess of one year included in the Company’s lease liabilities as of June 30, 2024 were as follows (in thousands):


Fiscal years:	Operating Lease Payments
2025	$	55,735
2026	50,502
2027	49,489
2028	38,875
2029	38,436
Thereafter	53,285
Total future operating lease payments	286,322
Less: imputed interest	(22,895)

Total lease liability balance	$	263,427

Debt (Tables)

12 Months Ended

Jun. 30, 2024

Debt Disclosure [Abstract]

Schedule of Long-Term Debt Instruments

The carrying values of the Notes were as follows (in thousands):


Instrument	Expected Remaining Term (years)	Effective Interest Rate		June 30, 2024
5.250% 2029 Notes	4.9	5.55	%	$	500,000
5.500% 2034 Notes	9.9	5.71	%	500,000
Unamortized debt discount and issuance costs				(14,089)

Debt, net of current portion				$	985,911

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22))
-SubTopic 10
-Topic 210
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B

Reference 3: http://www.xbrl.org/2003/role/exampleRef
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-Name Accounting Standards Codification
-Section 55
-Paragraph 69E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69E

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
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-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
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-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-3

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
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-SubTopic 470
-Section 50
-Paragraph 3
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-URI https://asc.fasb.org/1943274/2147477734/942-470-50-3

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147481112/505-10-50-8

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
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-URI https://asc.fasb.org/1943274/2147481112/505-10-50-6

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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-Section 50
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-7

Commitments and Contingencies Disclosure [Abstract]

Commitment and Contingencies (Tables)

12 Months Ended

Jun. 30, 2024

Contractual Commitments

The following table sets forth contractual commitments as of June 30, 2024 and 2023 (in thousands):


	Fiscal Year Ended June 30,
	2024		2023
Contractual purchase obligations	$	1,415,724	$	1,788,740
Obligations for leases that have not yet commenced	964,825		919,333
Total purchase obligation	$	2,380,549	$	2,708,073

Contractual Obligation, Fiscal Year Maturity

Maturities of purchase obligations as of June 30, 2024 were as follows (in thousands):


	Other contractual commitments		Leases not commenced		Total
Fiscal Years:
2025	$	462,187	$	1,116	$	463,303
2026	378,631		5,641		384,272
2027	434,406		36,518		470,924
2028	140,500		58,125		198,625
2029	—		60,295		60,295
Thereafter	—		803,130		803,130
Total commitments	$	1,415,724	$	964,825	$	2,380,549

Revenue (Tables)

12 Months Ended

Jun. 30, 2024

Revenue from Contract with Customer [Abstract]

Revenue from External Customers by Geographic Areas

The Company’s revenues by geographic region based on end-users who purchased the Company’s products or services are as follows (in thousands):


	Fiscal Year Ended June 30,
	2024		2023		2022
Americas
United States	$	1,847,194	$	1,537,328	$	1,230,801
Other Americas	278,240		227,838		178,067
Total Americas	2,125,434		1,765,166		1,408,868
EMEA
Germany	442,063		330,046		249,227
Other EMEA	1,308,847		1,036,693		828,111
Total EMEA	1,750,910		1,366,739		1,077,338
Asia Pacific	482,259		402,742		316,676
Total revenues	$	4,358,603	$	3,534,647	$	2,802,882

Revenue from External Customers by Products and Services

The Company’s revenues by deployment options are as follows (in thousands):


	Fiscal Year Ended June 30,
	2024		2023		2022
Cloud	$	2,698,899	$	2,085,498	$	1,515,424
Data Center	1,208,498		819,251		560,319
Server	177,645		400,519		525,028
Marketplace and other	273,561		229,379		202,111
Total revenues	$	4,358,603	$	3,534,647	$	2,802,882

Contract with Customer, Contract Asset, Contract Liability, and Receivable

The changes in the deferred revenue are as follows (in thousands):


	Fiscal Year Ended June 30,
	2024		2023
Balance, beginning of period	$	1,545,479	$	1,182,680
Additions	4,927,860		3,897,446
Revenue	(4,358,603)		(3,534,647)
Balance, end of period	$	2,114,736	$	1,545,479

Capitalized Contract Cost

The changes in the balances of deferred contract acquisition costs are as follows (in thousands):


	Fiscal Year Ended June 30,
	2024		2023
Balance, beginning of period	$	53,604	$	27,141
Additions	51,326		40,060
Amortization expense	(25,219)		(13,597)
Balance, end of period	$	79,711	$	53,604
Deferred contract acquisition costs included in:
Prepaid expenses and other current assets	$	29,170	$	18,027
Other non-current assets	50,541		35,577
Total	$	79,711	$	53,604

Geographic Information (Tables)

12 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Long-Lived Assets by Geographic Areas

The Company’s long-lived assets by geographic regions are as follows (in thousands):


	As of June 30,
	2024		2023

United States	$	189,468	$	213,567
Australia	47,082		37,891
All other countries	22,234		14,139
Total long-lived assets	$	258,784	$	265,597

Stockholder's Equity (Tables)

12 Months Ended

Jun. 30, 2024

Equity [Abstract]

Schedule of Unvested Restricted Stock Units Roll Forward

A summary of RSU activity for fiscal year 2024 is as follows (in thousands except share and per share data):


	Number of Shares	Weighted Average Grant Date Fair Value		Aggregate Intrinsic Value












Balance as of June 30, 2023	9,562,918	$	235.16	$	1,604,753
Granted	9,809,695	199.66		—
Vested	(4,994,610)	223.40		$	950,263
Forfeited or cancelled	(1,681,039)	229.31		—
Balance as of June 30, 2024	12,696,964	$	213.13	$	2,245,839

Net Loss Per Share (Tables)

12 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

Schedule of Basic and Diluted Net Loss Per Share

The following tables present the calculation of basic and diluted net loss per share attributable to common stockholders (in thousands, except per share data):


	Fiscal Year Ended June 30,
	2024				2023				2022
	Class A		Class B		Class A		Class B		Class A		Class B
Numerator:
Net Loss	$	(181,587)	$	(118,932)	$	(283,907)	$	(202,854)	$	(290,290)	$	(229,220)
Denominator:
Weighted-average shares outstanding, basic and diluted	156,580		102,553		149,493		106,814		141,545		111,767
Net loss per share, basic and diluted	$	(1.16)	$	(1.16)	$	(1.90)	$	(1.90)	$	(2.05)	$	(2.05)

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share


	Fiscal Year Ended June 30,
	2024	2023	2022
Class A Common Stock options	—	—	1
Class A Common Stock RSU awards	8,320	7,426	3,736
Class A Common Stock restricted stock awards	23	17	82
Total potentially dilutive securities	8,343	7,443	3,819

Income Taxes (Tables)

12 Months Ended

Jun. 30, 2024

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

The components of loss before provision for income taxes by U.S. and foreign jurisdictions consist of the following (in thousands):


	Fiscal Year Ended June 30,
	2024		2023		2022
Domestic	$	(139,687)	$	(25,250)	$	(480,982)
Foreign	54,280		(285,886)		10,044
Total	$	(85,407)	$	(311,136)	$	(470,938)

Schedule of Components of Income Tax Expense (Benefit)

The provision for income taxes consists of the following (in thousands):


	Fiscal Year Ended June 30,
	2024		2023		2022
Current:
Federal	$	2,134	$	4,327	$	280
State	3,969		1,045		570
Foreign	209,002		162,072		51,040
Total	215,105		167,444		51,890
Deferred:
Federal	(14,030)		1,467		(44)
State	3,680		(1,066)		(1,641)
Foreign	10,357		7,780		(1,633)
Total	7		8,181		(3,318)
Total provision for income taxes	$	215,112	$	175,625	$	48,572

Schedule of Effective Income Tax Rate Reconciliation

The effective income tax rate differs from the federal statutory income tax rate applied to the loss before income taxes due to the following (in thousands):


	Fiscal Year Ended June 30,
	2024			2023			2022
Tax at federal statutory rate	$	(17,935)		$	(65,339)		$	(98,897)
State, net of the federal benefit	16,362			13,042			13,363
Effects of non-U.S. operations	(14,575)			15,163			(6,879)
Tax credits	(151,912)			(99,398)			(107,956)
Stock-based compensation	123,719			80,471			(41,692)
Non-deductible executive compensation	6,721			6,022			13,580
Non-deductible charges relating to the exchangeable senior notes	—			—			89,188

Australian R&D deductions forgone in lieu of R&D credit	29,502			30,303			32,661
Foreign taxes	(131)			2,457			4,491
Basis difference in investments	14,615			(43,564)			(36,853)
Change in reserves	32,505			132,528			14,179
Change in valuation allowance	174,994			98,613			172,033
Other	1,247			5,327			1,354
Provision for income taxes	$	215,112		$	175,625		$	48,572
Effective Tax Rate (%)	(252)		%	(56)		%	(10)		%

Schedule of Deferred Tax Assets and Liabilities

Significant components of the Company's deferred tax assets and deferred tax liabilities are shown below (in thousands). Where necessary, a valuation allowance has been recognized to offset our deferred tax assets by the amount of any tax benefits that are not expected to be realized.


	As of June 30,
	2024		2023
Deferred tax assets:
Property and equipment	$	7,748	$	5,528
Net operating loss carryforwards	779,554		857,944
Credit carryforwards	252,444		183,520
Operating lease liabilities	62,300		64,774
Basis differences in investments	1,811,999		1,690,440
Provisions, accruals and prepayments	58,820		36,255
Deferred revenue	306,629		208,541
Capitalized research and development	81,503		28,330
Other, net	717		(1,973)
Total deferred tax assets	3,361,714		3,073,359
Less valuation allowance	(3,268,643)		(3,019,080)
Total deferred tax assets, net of valuation allowance	93,071		54,279

Deferred tax liabilities:
Unrealized foreign currency exchange losses	2,705		3,087
Unrealized investment gains	1,007		11,684
Operating right of use assets	47,825		48,119
Stock-based compensation	5,526		(7,246)
Intangible assets	52,461		(641)
Total deferred tax liabilities	109,524		55,003
Net deferred tax liabilities	$	(16,453)	$	(724)

Schedule of Unrecognized Tax Benefits

A reconciliation of the beginning and ending balance of total unrecognized tax benefits is as follows (in thousands):


	Fiscal Year Ended June 30,
	2024		2023		2022
Beginning of the period	$	122,302	$	53,483	$	37,944
Tax positions taken in prior period:
Gross increases	10,887		112,781		1,031
Gross decreases	—		(198)		—
Tax positions taken in current period:
Gross increases	25,707		15,171		14,542
Settlements	(53,648)		(57,004)		—
Lapse of statute of limitations	—		(32)		(34)
Currency translation effect	(795)		(1,899)		—
End of period	$	104,453	$	122,302	$	53,483

Organization, Consolidation and Presentation of Financial Statements (Details)	Sep. 30, 2020 shares
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Common stock, conversion basis (in shares)	1

Summary of Significant Accounting Policies - Additional Information (Details) $ in Thousands	12 Months Ended
	Jun. 30, 2024 USD ($) revenue_category	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)
Product Information [Line Items]
Number of revenue categories \| revenue_category	3
Average period of benefit	4 years
Restricted cash included in other non-current assets	$ 1,192	$ 1,365	$ 1,421
Defined contribution plan expense	96,300	78,200	58,700
Advertising expense	$ 100,200	$ 89,500	$ 90,300
Class A Common Stock RSU awards
Product Information [Line Items]
Cost not yet recognized, period for recognition	4 years
Class A Common Stock restricted stock awards
Product Information [Line Items]
Cost not yet recognized, period for recognition	4 years
Minimum
Product Information [Line Items]
Subscription-based arrangements, contractual term	1 month
Maximum
Product Information [Line Items]
Subscription-based arrangements, contractual term	12 months

Summary of Significant Accounting Policies - Property and Equipment, Estimated Useful Lives (Details)	Jun. 30, 2024
Equipment
Property, Plant and Equipment [Line Items]
Estimated useful lives	3 years
Computer hardware and computer-related software
Property, Plant and Equipment [Line Items]
Estimated useful lives	3 years
Furniture and fittings
Property, Plant and Equipment [Line Items]
Estimated useful lives	5 years
Leasehold improvements
Property, Plant and Equipment [Line Items]
Estimated useful lives	7 years

Summary of Significant Accounting Policies - Estimated Useful Lives for Intangible Asset Classes (Details)	Jun. 30, 2024
Minimum \| Patents, trademarks and other rights
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Remaining Useful Lives (Years)	5 years
Minimum \| Customer relationships
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Remaining Useful Lives (Years)	5 years
Minimum \| Acquired developed technology
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Remaining Useful Lives (Years)	4 years
Maximum \| Patents, trademarks and other rights
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Remaining Useful Lives (Years)	12 years
Maximum \| Customer relationships
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Remaining Useful Lives (Years)	10 years
Maximum \| Acquired developed technology
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Remaining Useful Lives (Years)	7 years

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Fair Value Measurements - Financial assets and liabilities measured at fair value (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Assets measured at fair value
Derivative Asset, Current, Statement of Financial Position [Extensible Enumeration]	Prepaid expenses and other current assets	Prepaid expenses and other current assets
Liabilities measured at fair value
Derivative Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued Liabilities, Current	Accrued Liabilities, Current
U.S. treasury securities
Assets measured at fair value
Marketable securities:	$ 52,517
Agency securities
Assets measured at fair value
Marketable securities:	3,199
Certificates of deposit and time deposits
Assets measured at fair value
Marketable securities:	10,000	$ 10,000
Commercial paper
Assets measured at fair value
Marketable securities:	20,010
Fair value, recurring
Assets measured at fair value
Derivative financial instruments	9,292	64,210
Strategic investments:		19,365
Total assets measured at fair value	1,734,499	1,432,084
Liabilities measured at fair value
Derivative liabilities	1,701	10,114
Total liabilities measured at fair value	1,701	10,114
Fair value, recurring \| U.S. treasury securities
Assets measured at fair value
Marketable securities:	52,517
Fair value, recurring \| Agency securities
Assets measured at fair value
Marketable securities:	3,199
Fair value, recurring \| Certificates of deposit and time deposits
Assets measured at fair value
Marketable securities:	10,000	10,000
Fair value, recurring \| Commercial paper
Assets measured at fair value
Marketable securities:	20,010
Fair value, recurring \| Corporate debt securities
Assets measured at fair value
Marketable securities:	76,247
Level 1 \| Fair value, recurring
Assets measured at fair value
Derivative financial instruments	0	0
Strategic investments:		19,365
Total assets measured at fair value	1,563,234	1,357,874
Liabilities measured at fair value
Derivative liabilities	0	0
Total liabilities measured at fair value	0	0
Level 1 \| Fair value, recurring \| U.S. treasury securities
Assets measured at fair value
Marketable securities:	0
Level 1 \| Fair value, recurring \| Agency securities
Assets measured at fair value
Marketable securities:	0
Level 1 \| Fair value, recurring \| Certificates of deposit and time deposits
Assets measured at fair value
Marketable securities:	0	0
Level 1 \| Fair value, recurring \| Commercial paper
Assets measured at fair value
Marketable securities:	0
Level 1 \| Fair value, recurring \| Corporate debt securities
Assets measured at fair value
Marketable securities:	0
Level 2 \| Fair value, recurring
Assets measured at fair value
Derivative financial instruments	9,292	64,210
Strategic investments:		0
Total assets measured at fair value	171,265	74,210
Liabilities measured at fair value
Derivative liabilities	1,701	10,114
Total liabilities measured at fair value	1,701	10,114
Level 2 \| Fair value, recurring \| U.S. treasury securities
Assets measured at fair value
Marketable securities:	52,517
Level 2 \| Fair value, recurring \| Agency securities
Assets measured at fair value
Marketable securities:	3,199
Level 2 \| Fair value, recurring \| Certificates of deposit and time deposits
Assets measured at fair value
Marketable securities:	10,000	10,000
Level 2 \| Fair value, recurring \| Commercial paper
Assets measured at fair value
Marketable securities:	20,010
Level 2 \| Fair value, recurring \| Corporate debt securities
Assets measured at fair value
Marketable securities:	76,247
Money market funds \| Fair value, recurring
Assets measured at fair value
Cash and cash equivalents:	1,563,234	1,338,509
Money market funds \| Level 1 \| Fair value, recurring
Assets measured at fair value
Cash and cash equivalents:	1,563,234	1,338,509
Money market funds \| Level 2 \| Fair value, recurring
Assets measured at fair value
Cash and cash equivalents:	$ 0	$ 0

Fair Value Measurements - Additional Information (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Equity securities without readily determinable fair value and other investments	$ 148.7	$ 140.1

Investments - Schedule of Marketable Securities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
U.S. treasury securities
Debt and Equity Securities, FV-NI [Line Items]
Amortized Cost	$ 52,570
Unrealized Gains	30
Unrealized Losses	(83)
Fair Value	52,517
Agency securities
Debt and Equity Securities, FV-NI [Line Items]
Amortized Cost	3,194
Unrealized Gains	5
Unrealized Losses	0
Fair Value	3,199
Certificates of deposit and time deposits
Debt and Equity Securities, FV-NI [Line Items]
Amortized Cost	10,000	$ 10,000
Unrealized Gains	0	0
Unrealized Losses	0	0
Fair Value	10,000	10,000
Commercial paper
Debt and Equity Securities, FV-NI [Line Items]
Amortized Cost	20,010
Unrealized Gains	0
Unrealized Losses	0
Fair Value	20,010
Corporate debt securities
Debt and Equity Securities, FV-NI [Line Items]
Amortized Cost	76,386
Unrealized Gains	7
Unrealized Losses	(146)
Fair Value	76,247
Total marketable securities
Debt and Equity Securities, FV-NI [Line Items]
Amortized Cost	162,160	10,000
Unrealized Gains	42	0
Unrealized Losses	(229)	0
Fair Value	161,973	10,000
Privately held debt securities
Debt and Equity Securities, FV-NI [Line Items]
Amortized Cost	6,800	8,800
Unrealized Gains	0	0
Unrealized Losses	(3,350)	(3,350)
Fair Value	$ 3,450	$ 5,450

Investments - Schedule of Marketable Debt Securities by Remaining Contractual Maturity (Details) - Total marketable securities - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Debt and Equity Securities, FV-NI [Line Items]
Due in one year or less	$ 101,543	$ 10,000
Due in one year through five years	60,430	0
Marketable securities:	$ 161,973	$ 10,000

Investments - Carrying Values for Publicly Traded and Privately Held Equity Securities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Debt and Equity Securities, FV-NI [Line Items]
Initial total cost		$ 145,320
Cumulative net losses		8,697
Carrying value		154,017
Publicly traded equity securities
Debt and Equity Securities, FV-NI [Line Items]
Initial total cost		10,270
Cumulative net losses		9,095
Carrying value		19,365
Privately held equity securities
Debt and Equity Securities, FV-NI [Line Items]
Initial total cost	$ 147,752	135,050
Cumulative net losses	(2,491)	(398)
Carrying value	$ 145,261	$ 134,652

Investments - Gains and Losses on Strategic Investments (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Unrealized losses recognized on publicly traded equity securities	$ 0	$ (11,437)	$ (79,608)
Unrealized gains recognized on privately held equity securities	2,084	307	6,945
Unrealized losses recognized on privately held equity securities including impairment	(1,628)	(7,642)	0
Unrealized losses on privately held debt securities	(500)	(350)	0
Unrealized losses, net	(44)	(19,122)	(72,663)
Realized gains recognized on publicly traded equity securities	515	0	0
Realized losses recognized on privately held equity securities	(2,546)	0	0
Realized losses on debt securities	0	(285)	0
Losses on strategic investments, net	(2,075)	(19,407)	(72,663)
Unrealized gains (losses) recognized during the reporting period on privately held equity securities still held at the reporting date	$ 456	$ (6,986)	$ 6,945

Investments - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jul. 20, 2022
Debt and Equity Securities, FV-NI [Line Items]
Downward price adjustment	$ 7.5	$ 5.9
Upward price adjustment	$ 5.0	$ 5.5
Vertical First Trust
Debt and Equity Securities, FV-NI [Line Items]
Retained minority equity interest (as a percentage)			13.00%
Fair value of retained interest			$ 88.9

Investments - Carrying Amounts of Equity Method Investments (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Equity Method Investments, Effect Of Foreign Currency Translation [Roll Forward]
Beginning balance	$ 85,436	$ 88,853
Share of losses	(11,262)
Effect of change in exchange rates	336	(3,417)
Ending balance	$ 74,510	$ 85,436

This item represents the carrying amount on the entity's balance sheet of its investment in common stock of an equity method investee. This is not an indicator of the fair value of the investment, rather it is the initial cost adjusted for the entity's share of earnings and losses of the investee, adjusted for any distributions (dividends) and other than temporary impairment (OTTI) losses recognized.

Derivative Contracts - Notional Amounts of Hedging Derivative Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Foreign exchange forward contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount	$ 908,883	$ 884,992
Foreign exchange forward contracts \| Under 12 months
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount	837,182	849,811
Foreign exchange forward contracts \| Over 12 months
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount	71,701	35,181
Foreign exchange forward contracts \| Cash Flow Hedge
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount	651,303	532,059
Foreign exchange forward contracts \| Non Hedge
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount	$ 257,580	352,933
Interest rate swaps
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount		$ 650,000
Average fixed interest rate		0.81%
Interest rate swaps \| Under 12 months
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount		$ 0
Interest rate swaps \| Over 12 months
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount		$ 650,000
Average fixed interest rate		0.81%
Interest rate swaps \| Cash Flow Hedge
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount		$ 650,000
Average fixed interest rate		0.81%
Interest rate swaps \| Non Hedge
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount		$ 0

Derivative Contracts - Fair Value of Company's Derivative Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total derivative assets	$ 9,292	$ 64,210
Total derivative liabilities	1,701	10,114
Prepaid expenses and other current assets \| Foreign exchange forward contracts \| Cash Flow Hedge
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total derivative assets	8,255	3,177
Prepaid expenses and other current assets \| Foreign exchange forward contracts \| Non Hedge
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total derivative assets	170	3,892
Prepaid expenses and other current assets \| Interest rate swaps \| Cash Flow Hedge
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total derivative assets	0	28,926
Other non-current assets \| Foreign exchange forward contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total derivative assets	867	0
Other non-current assets \| Interest rate swaps \| Cash Flow Hedge
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total derivative assets	0	28,215
Other non-current liabilities \| Foreign exchange forward contracts \| Cash Flow Hedge
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total derivative liabilities	7	209
Accrued expenses and other current liabilities \| Foreign exchange forward contracts \| Cash Flow Hedge
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total derivative liabilities	1,197	9,657
Accrued expenses and other current liabilities \| Foreign exchange forward contracts \| Non Hedge
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total derivative liabilities	$ 497	$ 248

Derivative Contracts - Pre-Tax Effects of Derivatives Designated as Cash Flow Hedging Instruments (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Derivative Instruments, Pre-Tax Effects Of Derivatives Designated As Cash Flow Hedging Instruments [Roll Forward]
Beginning balance	$ 654,672	$ 327,372	$ 313,262
Ending balance	1,032,851	654,672	327,372
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent
Derivative Instruments, Pre-Tax Effects Of Derivatives Designated As Cash Flow Hedging Instruments [Roll Forward]
Beginning balance	48,170	24,502	(2,936)
Gross unrealized gains recognized in other comprehensive income	10,826	17,952	11,421
Ending balance	41,424	48,170	24,502
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent \| Recognized in cost of revenues
Derivative Instruments, Pre-Tax Effects Of Derivatives Designated As Cash Flow Hedging Instruments [Roll Forward]
Net losses (gains) reclassified from cash flow hedge in accumulated other comprehensive income into profit or loss:	1,072	1,831	525
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent \| Recognized in research and development
Derivative Instruments, Pre-Tax Effects Of Derivatives Designated As Cash Flow Hedging Instruments [Roll Forward]
Net losses (gains) reclassified from cash flow hedge in accumulated other comprehensive income into profit or loss:	7,718	16,890	10,513
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent \| Recognized in marketing and sales
Derivative Instruments, Pre-Tax Effects Of Derivatives Designated As Cash Flow Hedging Instruments [Roll Forward]
Net losses (gains) reclassified from cash flow hedge in accumulated other comprehensive income into profit or loss:	1,264	1,337	220
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent \| Recognized in general and administrative
Derivative Instruments, Pre-Tax Effects Of Derivatives Designated As Cash Flow Hedging Instruments [Roll Forward]
Net losses (gains) reclassified from cash flow hedge in accumulated other comprehensive income into profit or loss:	2,320	5,563	1,606
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent \| Recognized in interest
Derivative Instruments, Pre-Tax Effects Of Derivatives Designated As Cash Flow Hedging Instruments [Roll Forward]
Net losses (gains) reclassified from cash flow hedge in accumulated other comprehensive income into profit or loss:	$ (29,946)	$ (19,905)	$ 3,153

Derivative Contracts - Narrative (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	May 31, 2024	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Cost of hedge net of cash received	$ 37,700	$ 65,734	$ 17,754	$ (3,283)
Amortization of interest rate swap contracts		$ 4,166	$ 0	$ 0

Property and Equipment - Property and Equipment, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 215,140	$ 186,997
Less: accumulated depreciation and impairment	(128,825)	(105,595)
Property and equipment, net	86,315	81,402
Equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	11,200	9,298
Computer hardware and software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	40,824	29,801
Furniture and fittings
Property, Plant and Equipment [Line Items]
Property and equipment, gross	25,172	24,773
Leasehold improvements and other
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 137,944	$ 123,125

Property and Equipment - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Restructuring Cost and Reserve [Line Items]
Depreciation expense	$ 29.0	$ 27.8	$ 19.3
Facility Closing
Restructuring Cost and Reserve [Line Items]
Impairment of leasehold	$ 8.4

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Business Combinations - Additional Information (Details) - USD ($)	Nov. 30, 2023	Jun. 30, 2024
Class A Common Stock RSU awards
Business Acquisition [Line Items]
Cost not yet recognized		$ 2,100,000,000
Loom, Inc
Business Acquisition [Line Items]
Percentage of voting interests acquired	100.00%
Consideration transferred	$ 885,600,000
Goodwill, expected tax deductible amount	0
Loom, Inc \| Class A Common Stock RSU awards
Business Acquisition [Line Items]
Consideration transferred, equity interests issued and issuable	30,200,000
Loom, Inc \| Class A Common Stock restricted stock awards
Business Acquisition [Line Items]
Cost not yet recognized	$ 54,700,000

Business Combinations - Schedule of Assets and Liabilities Acquired (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Nov. 30, 2023	Jun. 30, 2023	Jun. 30, 2022
Business Acquisition [Line Items]
Goodwill	$ 1,288,756		$ 727,211	$ 722,838
Loom, Inc
Business Acquisition [Line Items]
Cash and cash equivalents		$ 59,265
Marketable securities		43,494
Fair Value		272,300
Goodwill		544,828
Other assets		3,941
Deferred revenue		(16,145)
Deferred tax liabilities		(15,668)
Other liabilities		(6,391)
Net assets acquired		$ 885,624

Business Combinations - Schedule of Identifiable Intangible Assets Acquired (Details) - Loom, Inc $ in Thousands	Nov. 30, 2023 USD ($)
Business Acquisition [Line Items]
Fair Value	$ 272,300
Developed technology
Business Acquisition [Line Items]
Fair Value	$ 230,000
Useful Life (in years)	7 years
Trade name
Business Acquisition [Line Items]
Fair Value	$ 37,000
Useful Life (in years)	8 years
Other purchased intangible assets
Business Acquisition [Line Items]
Fair Value	$ 5,300
Useful Life (in years)	5 years

Goodwill and Intangible Assets - Schedule of Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 727,211	$ 722,838
Additions	561,372	3,300
Effect of change in exchange rates	173	1,073
Goodwill, ending balance	$ 1,288,756	$ 727,211

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
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-Name Accounting Standards Codification
-Section 55
-Paragraph 49
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Reference 2: http://www.xbrl.org/2003/role/exampleRef
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Reference 3: http://www.xbrl.org/2003/role/exampleRef
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-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Subparagraph (d)
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Reference 4: http://www.xbrl.org/2003/role/exampleRef
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-Name Accounting Standards Codification
-Section 55
-Paragraph 10
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-URI https://asc.fasb.org/1943274/2147481372/852-10-55-10

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
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-Name Accounting Standards Codification
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
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Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(10)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

Goodwill and Intangible Assets - Schedule of Finite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Finite-Lived Intangible Assets [Line Items]
Cost	$ 676,367	$ 398,713
Less: accumulated amortization	(377,310)	(329,641)
Intangible assets, net	299,057	69,072
Acquired developed technology
Finite-Lived Intangible Assets [Line Items]
Cost	$ 469,752	235,818
Weighted-Average Remaining Useful Lives (Years)	6 years
Patents, trademarks and other rights
Finite-Lived Intangible Assets [Line Items]
Cost	$ 70,928	33,393
Weighted-Average Remaining Useful Lives (Years)	7 years
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Cost	$ 135,687	$ 129,502
Weighted-Average Remaining Useful Lives (Years)	4 years

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Goodwill and Intangible Assets - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense for intangible assets	$ 49.7	$ 33.1	$ 32.4

Goodwill and Intangible Assets - Schedule of Finite-Lived Intangible Assets, Future Amortization Expense (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2025	$ 55,243
2026	52,705
2027	47,536
2028	45,309
2029	40,076
Thereafter	58,188
Total future amortization expense	$ 299,057

Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Other Liabilities Disclosure [Abstract]
Accrued expenses	$ 149,046	$ 107,479
Employee benefits	332,518	191,801
Tax liabilities	55,203	88,748
Customer deposits	19,279	11,784
Other payables	21,313	23,319
Total accrued expenses and other current liabilities	$ 577,359	$ 423,131

Leases - Lease Cost (Details) - USD ($) $ in Thousands	12 Months Ended
Leases - Lease Cost (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Leases [Abstract]
Operating lease costs	$ 41,426	$ 50,134	$ 49,647
Variable lease costs	11,908	13,094	12,077
Total lease costs	$ 53,334	$ 63,228	$ 61,724
Weighted average remaining lease term (in years)	6 years	7 years	8 years
Weighted average discount rate	2.90%	2.50%	2.40%

Leases - Supplemental Cash Flow Table (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Leases [Abstract]
Cash payments for operating leases	$ 49,803	$ 41,493	$ 49,142
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 23,265	$ 3,580	$ 105,961

Leases - Future Lease Payments (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Leases [Abstract]
2025	$ 55,735
2026	50,502
2027	49,489
2028	38,875
2029	38,436
Thereafter	53,285
Total future operating lease payments	286,322
Less: imputed interest	(22,895)
Total lease liability balance	$ 263,427

Leases - Additional Information (Details) $ in Millions	12 Months Ended
Leases - Additional Information (Details) $ in Millions	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) extension_option
Lease Agreement, Global Headquarters
Lessee, Lease, Description [Line Items]
Term of future lease payment		15 years
Number of extension options \| extension_option		2
Length of additional extension periods		10 years
Operating Lease, Lease Not yet Commenced \| Lease Agreement, Global Headquarters
Lessee, Lease, Description [Line Items]
Lease not yet commenced		$ 925.8
Operating Lease, Lease Not yet Commenced \| Lease Agreements, Offices
Lessee, Lease, Description [Line Items]
Lease not yet commenced		$ 39.0
Minimum \| Operating Lease, Lease Not yet Commenced \| Lease Agreements, Offices
Lessee, Lease, Description [Line Items]
Term of future lease payment		4 years
Maximum \| Operating Lease, Lease Not yet Commenced \| Lease Agreements, Offices
Lessee, Lease, Description [Line Items]
Term of future lease payment		5 years
Facility Closing
Lessee, Lease, Description [Line Items]
Impairment charge	$ 52.7

Debt - Credit Facility (Details) - Line of Credit $ in Millions		1 Months Ended
	Aug. 12, 2024 USD ($)	Oct. 31, 2020 USD ($)	Jun. 30, 2024 USD ($)
The Credit Facility
Line of Credit Facility [Line Items]
Variable rate		0.50%
Debt instrument, basis spread adjustment		0.0010
Obligated repayment amount, as a percentage		1.25%
Consolidated leverage ratio		3.5
Consolidated leverage ration in event of a material acquisition		4.5
Debt outstanding			$ 0.0
The Credit Facility \| Minimum
Line of Credit Facility [Line Items]
Variable rate		0.875%
Commitment fee, as a percentage		0.075%
The Credit Facility \| Maximum
Line of Credit Facility [Line Items]
Variable rate		1.50%
Commitment fee, as a percentage		0.20%
The Credit Facility \| Unsecured Debt
Line of Credit Facility [Line Items]
Borrowing capacity		$ 1,000.0
The Credit Facility \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Borrowing capacity		500.0
Amount of increase available		$ 250.0
The 2024 Credit Agreement \| Subsequent Event
Line of Credit Facility [Line Items]
Consolidated leverage ratio	3.5
Consolidated leverage ration in event of a material acquisition	4.5
The 2024 Credit Agreement \| Revolving Credit Facility \| Subsequent Event
Line of Credit Facility [Line Items]
Borrowing capacity	$ 750.0
Amount of increase available	$ 250.0
The 2024 Credit Agreement \| Revolving Credit Facility \| Minimum \| Subsequent Event
Line of Credit Facility [Line Items]
Variable rate	0.875%
Commitment fee, as a percentage	0.075%
The 2024 Credit Agreement \| Revolving Credit Facility \| Maximum \| Subsequent Event
Line of Credit Facility [Line Items]
Variable rate	1.50%
Commitment fee, as a percentage	0.20%

Debt - The Notes (Details) - USD ($) $ in Thousands		12 Months Ended
Debt - The Notes (Details) - USD ($) $ in Thousands	May 15, 2024	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Debt Instrument [Line Items]
Unamortized discount (premium) and debt issuance costs, net		$ 14,089
Proceeds from issuance of debt, net of issuance costs	$ 985,700	987,039	$ 0	$ 0
Senior Notes
Debt Instrument [Line Items]
Percentage of face amount	101.00%
Unamortized discount (premium) and debt issuance costs, net	$ 14,300
Senior Notes \| Level 2
Debt Instrument [Line Items]
Estimated fair value		$ 1,000,000
5.250% 2029 Notes \| Senior Notes
Debt Instrument [Line Items]
Aggregate principal amount	$ 500,000
Interest rate	5.25%
5.500% 2034 Notes \| Senior Notes
Debt Instrument [Line Items]
Aggregate principal amount	$ 500,000
Interest rate	5.50%

Debt - The Notes Carrying Value (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	May 15, 2024	Jun. 30, 2023
Debt Instrument [Line Items]
Unamortized debt discount and issuance costs	$ (14,089)
Debt, net of current portion	$ 985,911		$ 962,093
Senior Notes
Debt Instrument [Line Items]
Unamortized debt discount and issuance costs		$ (14,300)
5.250% 2029 Notes \| Senior Notes
Debt Instrument [Line Items]
Interest rate		5.25%
Expected Remaining Term (years)	4 years 10 months 24 days
Effective Interest Rate	5.55%
Aggregate principal amount	$ 500,000
5.500% 2034 Notes \| Senior Notes
Debt Instrument [Line Items]
Interest rate		5.50%
Expected Remaining Term (years)	9 years 10 months 24 days
Effective Interest Rate	5.71%
Aggregate principal amount	$ 500,000

Commitment and Contingencies - Additional Information (Details) - lawsuit	1 Months Ended	12 Months Ended
	Aug. 31, 2023	Jun. 30, 2024
Long-Term Purchase Commitment [Line Items]
New claims filed (in lawsuits)	3
Minimum
Long-Term Purchase Commitment [Line Items]
Purchase commitment period		1 year
Maximum
Long-Term Purchase Commitment [Line Items]
Purchase commitment period		4 years

Commitment and Contingencies - Schedule of Purchase Obligations (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Contractual purchase obligations	$ 1,415,724	$ 1,788,740
Obligations for leases that have not yet commenced	964,825	919,333
Total purchase obligation	$ 2,380,549	$ 2,708,073

Commitment and Contingencies - Schedule of Future Commitments (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Other contractual commitments
2025	$ 462,187
2026	378,631
2027	434,406
2028	140,500
2029	0
Thereafter	0
Total commitments	1,415,724	$ 1,788,740
Leases not commenced
2025	1,116
2026	5,641
2027	36,518
2028	58,125
2029	60,295
Thereafter	803,130
Total commitments	964,825	919,333
Total
2025	463,303
2026	384,272
2027	470,924
2028	198,625
2029	60,295
Thereafter	803,130
Total purchase obligation	$ 2,380,549	$ 2,708,073

Revenue - Remaining Performance Obligations (Details) $ in Billions	Jun. 30, 2024 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 2.4
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percentage	79.00%
Revenue remaining performance obligation, expected timing of satisfaction period	12 months

Revenue - Disaggregation of Revenue by Geographic Region and Deployment Options (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Disaggregation of Revenue [Line Items]
Total revenues	$ 4,358,603	$ 3,534,647	$ 2,802,882
Cloud
Disaggregation of Revenue [Line Items]
Total revenues	2,698,899	2,085,498	1,515,424
Data Center
Disaggregation of Revenue [Line Items]
Total revenues	1,208,498	819,251	560,319
Server
Disaggregation of Revenue [Line Items]
Total revenues	177,645	400,519	525,028
Marketplace and other
Disaggregation of Revenue [Line Items]
Total revenues	273,561	229,379	202,111
Americas
Disaggregation of Revenue [Line Items]
Total revenues	2,125,434	1,765,166	1,408,868
United States
Disaggregation of Revenue [Line Items]
Total revenues	1,847,194	1,537,328	1,230,801
Other Americas
Disaggregation of Revenue [Line Items]
Total revenues	278,240	227,838	178,067
EMEA
Disaggregation of Revenue [Line Items]
Total revenues	1,750,910	1,366,739	1,077,338
Germany
Disaggregation of Revenue [Line Items]
Total revenues	442,063	330,046	249,227
Other EMEA
Disaggregation of Revenue [Line Items]
Total revenues	1,308,847	1,036,693	828,111
Asia Pacific
Disaggregation of Revenue [Line Items]
Total revenues	$ 482,259	$ 402,742	$ 316,676

Revenue - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Deferred revenue recognized, as a percentage	31.00%	30.00%
Impairment losses	$ 0.0	$ 0.0

Revenue - Change in Contract Balances (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Contract With Customer, Liability [Roll Forward]
Balance, beginning of period	$ 1,545,479	$ 1,182,680
Additions	4,927,860	3,897,446
Revenue	(4,358,603)	(3,534,647)
Balance, end of period	$ 2,114,736	$ 1,545,479

Revenue - Changes in Balance of Deferred Commission (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Capitalized Contract Cost [Roll Forward]
Balance, beginning of period	$ 53,604	$ 27,141
Additions	51,326	40,060
Amortization expense	(25,219)	(13,597)
Balance, end of period	79,711	53,604
Deferred contract acquisition costs included in:
Prepaid expenses and other current assets	29,170	18,027
Other non-current assets	50,541	35,577
Capitalized Contract Cost, Net, Total	$ 79,711	$ 53,604

Geographic Information (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting Information [Line Items]
Total long-lived assets	$ 258,784	$ 265,597
United States
Segment Reporting Information [Line Items]
Total long-lived assets	189,468	213,567
Australia
Segment Reporting Information [Line Items]
Total long-lived assets	47,082	37,891
All other countries
Segment Reporting Information [Line Items]
Total long-lived assets	$ 22,234	$ 14,139

Stockholder's Equity - Additional Information (Details) $ / shares in Units, $ in Thousands	1 Months Ended	12 Months Ended
	Apr. 30, 2021	Jun. 30, 2024 USD ($) vote $ / shares shares	Jun. 30, 2023 USD ($) $ / shares shares	Jun. 30, 2022 USD ($) $ / shares	Dec. 31, 2015	Jan. 31, 2023 USD ($)
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Consent required to convert, percentage		66.66%
Conversion threshold percentage (less than)		10.00%
Preferred stock, authorized (in shares) \| shares		10,000,000
Preferred stock, outstanding (in shares) \| shares		0	0
Number of shares available for grant (in shares) \| shares		30,425,646
Stock repurchase program, authorized amount \| $						$ 1,000,000
Treasury stock, shares, acquired (in shares) \| shares		2,200,000
Treasury stock, value, acquired, cost method \| $		$ 394,000
Shares acquired, average cost per share (in dollars per share) \| $ / shares		$ 182.32
Stock repurchase program, remaining authorized repurchase amount \| $		$ 451,800
Restricted Stock Units (RSUs)
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period	4 years				4 years
Granted, weighted average grant date fair value (in dollars per share) \| $ / shares		$ 199.66	$ 221.87	$ 332.43
Aggregate intrinsic value, vested \| $		$ 950,263	$ 617,000	$ 925,800
Tax benefit \| $		218,700	$ 156,500	$ 242,800
Cost not yet recognized \| $		$ 2,100,000
Cost not yet recognized, period for recognition		4 years
Granted (in shares) \| shares		9,809,695
Shares outstanding (in shares) \| shares		12,696,964	9,562,918
Aggregate intrinsic value, outstanding \| $		$ 2,245,839	$ 1,604,753
Restricted Stock Units (RSUs) \| Weighted Average
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Cost not yet recognized, period for recognition		1 year 9 months 18 days
Restricted Stock Units (RSUs) \| Share-Based Payment Arrangement, Tranche One
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period					1 year
Award vesting rights, percentage					25.00%
Restricted Stock Units (RSUs) \| Share-Based Payment Arrangement, Tranche Two
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period					3 years
Award vesting rights, percentage					75.00%
Award vesting rights, quarterly vesting percentage					8.30%
Restricted Stock
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Cost not yet recognized, period for recognition		4 years
Granted (in shares) \| shares		301,751	0
Shares outstanding (in shares) \| shares		156,856	6,131
Aggregate intrinsic value, outstanding \| $		$ 27,700	$ 1,000
Class A
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common stock, par value (in dollars per share) \| $ / shares		$ 0.00001	$ 0.00001
Voting rights, number \| vote		1
Class B
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Conversion ratio		1
Common stock, par value (in dollars per share) \| $ / shares		$ 0.00001	$ 0.00001
Voting rights, number \| vote		10

Stockholder's Equity - Schedule of RSU Activity (Details) - Restricted Stock Units (RSUs) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Number of Shares
Beginning balance (in shares)	9,562,918
Granted (in shares)	9,809,695
Vested (in shares)	(4,994,610)
Forfeited or cancelled (in shares)	(1,681,039)
Ending balance (in shares)	12,696,964	9,562,918
Weighted Average Grant Date Fair Value
Beginning balance (in dollars per share)	$ 235.16
Granted, weighted average grant date fair value (in dollars per share)	199.66	$ 221.87	$ 332.43
Vested, weighted average grant date fair value (in dollars per share)	223.40
Forfeited or cancelled, weighted average grant date fair value (in dollars per share)	229.31
Ending balance (in dollars per share)	$ 213.13	$ 235.16
Aggregate intrinsic value, outstanding beginning balance	$ 1,604,753
Aggregate intrinsic value, vested	950,263	$ 617,000	$ 925,800
Aggregate intrinsic value, outstanding ending balance	$ 2,245,839	$ 1,604,753

Net Loss Per Share - Basic and Diluted Net Loss (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Numerator:
Net loss	$ (300,519)	$ (486,761)	$ (519,510)
Denominator:
Weighted-average shares outstanding, basic (in shares)	259,133,000	256,307,000	253,312,000
Weighted-average shares outstanding, diluted (in shares)	259,133,000	256,307,000	253,312,000
Net loss per share, basic (in USD per share)	$ (1.16)	$ (1.90)	$ (2.05)
Net loss per share, diluted (in USD per share)	$ (1.16)	$ (1.90)	$ (2.05)
Class A
Numerator:
Net loss	$ (181,587)	$ (283,907)	$ (290,290)
Denominator:
Weighted-average shares outstanding, basic (in shares)	156,580,000	149,493,000	141,545,000
Weighted-average shares outstanding, diluted (in shares)	156,580,000	149,493,000	141,545,000
Net loss per share, basic (in USD per share)	$ (1.16)	$ (1.90)	$ (2.05)
Net loss per share, diluted (in USD per share)	$ (1.16)	$ (1.90)	$ (2.05)
Class B
Numerator:
Net loss	$ (118,932)	$ (202,854)	$ (229,220)
Denominator:
Weighted-average shares outstanding, basic (in shares)	102,553,000	106,814,000	111,767,000
Weighted-average shares outstanding, diluted (in shares)	102,553,000	106,814,000	111,767,000
Net loss per share, basic (in USD per share)	$ (1.16)	$ (1.90)	$ (2.05)
Net loss per share, diluted (in USD per share)	$ (1.16)	$ (1.90)	$ (2.05)

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-6

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 52
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147483443/250-10-50-4

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
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-Name Accounting Standards Codification
-Section S99
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
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-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482689/260-10-45-7

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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Net Loss Per Share - Antidilutive Securities (Details) - shares shares in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (in shares)	8,343	7,443	3,819
Class A Common Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (in shares)	0	0	1
Class A Common Stock RSU awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (in shares)	8,320	7,426	3,736
Class A Common Stock restricted stock awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (in shares)	23	17	82

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Tax Credit Carryforward [Line Items]
Valuation allowance	$ 3,268,643	$ 3,019,080	$ 2,900,000
Operating loss carryforwards	799,800
Deferred tax assets, operating loss carryforwards, domestic	701,100
Deferred tax assets, operating loss carryforwards, not subject to expiration	700,800
Deferred tax assets, operating loss carryforwards, subject to expiration	300
Deferred tax assets, operating loss carryforwards, state and local	96,400
Deferred tax assets, tax credit carryforwards, research	263,100
Unrecognized tax benefits	104,453	122,302	53,483	$ 37,944
Undistributed earnings of domestic subsidiaries	802,600
Unrecognized tax benefits that would impact effective tax rate	10,900	113,200	$ 2,500
Income tax examination, penalties and interest expense	600	5,800
Income tax examination, penalties and interest accrued	0	$ 5,800
Settlement with Taxing Authority
Tax Credit Carryforward [Line Items]
Decrease in unrecognized tax benefits is reasonably possible	4,200
Increase in unrecognized tax benefits is reasonably possible	4,500
Australian Taxation Office \| Settlement with Taxing Authority
Tax Credit Carryforward [Line Items]
Decrease in unrecognized tax benefits is reasonably possible	60,500
Polish R&D Credits
Tax Credit Carryforward [Line Items]
Unrecognized tax benefits	$ 8,300

Income Taxes - Components of Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Domestic	$ (139,687)	$ (25,250)	$ (480,982)
Foreign	54,280	(285,886)	10,044
Loss before provision for income taxes	$ (85,407)	$ (311,136)	$ (470,938)

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

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