ATLASSIAN CORP, 10-Q filed on 2/6/2026
Quarterly Report
v3.25.4
Cover - shares
 6 Months Ended
Dec. 31, 2025
Jan. 30, 2026
Document Information [Line Items]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Dec. 31, 2025  
Document Transition Report false  
Entity File Number 001-37651  
Entity Registrant Name Atlassian Corporation  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 88-3940934  
Entity Address, Address Line One 350 Bush Street  
Entity Address, Address Line Two Floor 13  
Entity Address, City or Town San Francisco  
Entity Address, State or Province CA  
Entity Address, Postal Zip Code 94104  
City Area Code 415  
Local Phone Number 701-1110  
Title of 12(b) Security Class A Common Stock, par value $0.00001 per share  
Trading Symbol TEAM  
Security Exchange Name NASDAQ  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Central Index Key 0001650372  
Current Fiscal Year End Date --06-30  
Document Fiscal Year Focus 2026  
Document Fiscal Period Q2  
Amendment Flag false  
Class A    
Document Information [Line Items]    
Entity Common Stock, Shares Outstanding   169,610,457
Class B    
Document Information [Line Items]    
Entity Common Stock, Shares Outstanding   94,133,617
v3.25.4
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2025
Jun. 30, 2025
Current assets:    
Cash and cash equivalents $ 1,158,122 $ 2,512,874
Marketable securities 407,932 424,268
Accounts receivable, net 911,915 778,302
Prepaid expenses and other current assets 297,437 175,793
Total current assets 2,775,406 3,891,237
Non-current assets:    
Property and equipment, net 97,952 105,118
Operating lease right-of-use assets 126,475 169,127
Strategic investments 209,979 221,942
Intangible assets, net 494,959 244,840
Goodwill 2,305,132 1,304,445
Deferred tax assets 25,433 3,762
Other non-current assets 125,045 101,499
Total assets 6,160,381 6,041,970
Current liabilities:    
Accounts payable 231,654 222,092
Accrued expenses and other current liabilities 603,850 681,601
Deferred revenue, current portion 2,230,427 2,227,002
Operating lease liabilities, current portion 50,696 50,164
Total current liabilities 3,116,627 3,180,859
Non-current liabilities:    
Deferred revenue, net of current portion 201,082 254,252
Operating lease liabilities, net of current portion 175,774 201,483
Long-term debt 988,609 987,684
Deferred tax liabilities 23,993 23,881
Other non-current liabilities 63,447 48,157
Total liabilities 4,569,532 4,696,316
Commitments and contingencies (Note 11)
Stockholders’ equity    
Additional paid-in capital 6,378,041 5,574,290
Accumulated other comprehensive income (loss) (465) 13,226
Accumulated deficit (4,786,730) (4,241,865)
Total stockholders’ equity 1,590,849 1,345,654
Total liabilities and stockholders’ equity 6,160,381 6,041,970
Class A    
Stockholders’ equity    
Common stock, value issued 2 2
Class B    
Stockholders’ equity    
Common stock, value issued $ 1 $ 1
v3.25.4
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares
Dec. 31, 2025
Jun. 30, 2025
Class A    
Common stock, par value (in dollars per share) $ 0.00001 $ 0.00001
Common stock, shares authorized (in shares) 750,000,000 750,000,000
Common stock, shares issued (in shares) 170,436,795 165,949,196
Shares outstanding (in shares) 170,436,795 165,949,196
Class B    
Common stock, par value (in dollars per share) $ 0.00001 $ 0.00001
Common stock, shares authorized (in shares) 230,000,000 230,000,000
Common stock, shares issued (in shares) 95,068,747 97,030,987
Shares outstanding (in shares) 95,068,747 97,030,987
v3.25.4
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Revenues:        
Total revenues $ 1,586,315 $ 1,286,463 $ 3,018,868 $ 2,474,244
Cost of revenues [1],[2] 237,691 223,127 495,615 440,751
Gross profit 1,348,624 1,063,336 2,523,253 2,033,493
Operating expenses:        
Research and development [1],[2] 826,489 680,213 1,582,483 1,283,314
Marketing and sales [1],[2] 376,434 271,894 712,861 524,287
General and administrative [2] 193,448 168,708 371,993 315,349
Total operating expenses 1,396,371 1,120,815 2,667,337 2,122,950
Operating loss (47,747) (57,479) (144,084) (89,457)
Other income (expense), net (13,550) (7,999) 5,254 (27,431)
Interest income 18,065 25,586 47,910 54,150
Interest expense (12,525) (7,291) (21,161) (14,609)
Loss before income taxes (55,757) (47,183) (112,081) (77,347)
Provision for (benefit from) income taxes (13,112) (8,975) (17,566) 84,630
Net loss $ (42,645) $ (38,208) $ (94,515) $ (161,977)
Net loss per share attributable to Class A and Class B common stockholders:        
Basic (in dollars per share) $ (0.16) $ (0.15) $ (0.36) $ (0.62)
Diluted (in dollars per share) $ (0.16) $ (0.15) $ (0.36) $ (0.62)
Weighted-average shares used in computing net loss per share attributable to Class A and Class B common stockholders:        
Basic (in shares) 263,828,000 261,147,000 263,409,000 260,812,000
Diluted (in shares) 263,828,000 261,147,000 263,409,000 260,812,000
Subscription        
Revenues:        
Total revenues $ 1,507,656 $ 1,213,248 $ 2,882,158 $ 2,345,196
Other        
Revenues:        
Total revenues $ 78,659 $ 73,215 $ 136,710 $ 129,048
[1]
(2)    Amounts include amortization of acquired intangible assets, as follows:
Cost of revenues$19,753 $10,130 $29,710 $20,246 
Research and development93 93 187 187 
Marketing and sales5,507 3,673 9,106 7,345 
[2]
(1)    Amounts include stock-based compensation, as follows:
Cost of revenues$20,121 $23,031 $40,052 $41,245 
Research and development324,865 260,278 571,359 453,723 
Marketing and sales55,505 43,260 99,489 79,252 
General and administrative52,133 52,161 92,851 90,656 
v3.25.4
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Amortization expense for intangible assets $ 25,400 $ 13,900 $ 39,000 $ 27,800
Cost of revenues        
Stock based compensation expense 20,121 23,031 40,052 41,245
Amortization expense for intangible assets 19,753 10,130 29,710 20,246
Research and development        
Stock based compensation expense 324,865 260,278 571,359 453,723
Amortization expense for intangible assets 93 93 187 187
Marketing and sales        
Stock based compensation expense 55,505 43,260 99,489 79,252
Amortization expense for intangible assets 5,507 3,673 9,106 7,345
General and administrative        
Stock based compensation expense $ 52,133 $ 52,161 $ 92,851 $ 90,656
v3.25.4
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Statement of Comprehensive Income [Abstract]        
Net loss $ (42,645) $ (38,208) $ (94,515) $ (161,977)
Other comprehensive income (loss), net of reclassification adjustments:        
Foreign currency translation adjustment 1,791 (13,499) (3,955) (7,839)
Net change in unrealized gain (loss) on marketable and privately held debt securities (36) (741) 358 613
Net gain (loss) on cash flow hedging derivative instruments 594 (67,197) (10,094) (56,691)
Other comprehensive income (loss), before tax 2,349 (81,437) (13,691) (63,917)
Income tax effect 0 0 0 0
Other comprehensive income (loss), net of tax 2,349 (81,437) (13,691) (63,917)
Total comprehensive income (loss), net of tax $ (40,296) $ (119,645) $ (108,206) $ (225,894)
v3.25.4
CONDENSED 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 (loss)
Accumulated deficit
Beginning balance (in shares) at Jun. 30, 2024       159,388,000 101,012,000      
Beginning balance at Jun. 30, 2024 $ 1,032,851     $ 2 $ 1 $ 4,212,064 $ 25,300 $ (3,204,516)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Common stock issued (in shares)       3,054,000        
Common stock issued 4         4    
Conversion from Class B Common Stock to Class A Common Stock (in shares)       2,035,000 (2,035,000)      
Stock-based compensation 664,876         664,876    
Repurchases of Class A Common Stock (in shares)       (1,499,000)        
Repurchases of Class A Common Stock (252,282)             (252,282)
Other comprehensive income (loss), net of tax (63,917)           (63,917)  
Net loss (161,977) $ (100,188) $ (61,789)         (161,977)
Ending balance (in shares) at Dec. 31, 2024       162,978,000 98,977,000      
Ending balance at Dec. 31, 2024 1,219,555     $ 2 $ 1 4,876,944 (38,617) (3,618,775)
Beginning balance (in shares) at Sep. 30, 2024       160,558,000 99,995,000      
Beginning balance at Sep. 30, 2024 1,028,834     $ 2 $ 1 4,498,214 42,820 (3,512,203)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Common stock issued (in shares)       1,770,000        
Conversion from Class B Common Stock to Class A Common Stock (in shares)       1,018,000 (1,018,000)      
Stock-based compensation 378,730         378,730    
Repurchases of Class A Common Stock (in shares)       (368,000)        
Repurchases of Class A Common Stock (68,364)             (68,364)
Other comprehensive income (loss), net of tax (81,437)           (81,437)  
Net loss (38,208) $ (23,725) $ (14,483)         (38,208)
Ending balance (in shares) at Dec. 31, 2024       162,978,000 98,977,000      
Ending balance at Dec. 31, 2024 1,219,555     $ 2 $ 1 4,876,944 (38,617) (3,618,775)
Beginning balance (in shares) at Jun. 30, 2025   165,949,196 97,030,987 165,860,000 97,031,000      
Beginning balance at Jun. 30, 2025 1,345,654     $ 2 $ 1 5,574,290 13,226 (4,241,865)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Common stock issued (in shares)       3,872,000        
Conversion from Class B Common Stock to Class A Common Stock (in shares)       1,962,000 (1,962,000)      
Stock-based compensation $ 803,751         803,751    
Repurchases of Class A Common Stock (in shares) (2,700,000)     (2,662,000)        
Repurchases of Class A Common Stock $ (450,350)             (450,350)
Other comprehensive income (loss), net of tax (13,691)           (13,691)  
Net loss (94,515) $ (59,171) $ (35,344)         (94,515)
Ending balance (in shares) at Dec. 31, 2025   170,436,795 95,068,747 169,032,000 95,069,000      
Ending balance at Dec. 31, 2025 1,590,849     $ 2 $ 1 6,378,041 (465) (4,786,730)
Beginning balance (in shares) at Sep. 30, 2025       167,175,000 96,050,000      
Beginning balance at Sep. 30, 2025 1,378,936     $ 2 $ 1 5,925,417 (2,814) (4,543,670)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Common stock issued (in shares)       2,155,000        
Conversion from Class B Common Stock to Class A Common Stock (in shares)       981,000 (981,000)      
Stock-based compensation $ 452,624         452,624    
Repurchases of Class A Common Stock (in shares) (1,300,000)     (1,279,000)        
Repurchases of Class A Common Stock $ (200,415)             (200,415)
Other comprehensive income (loss), net of tax 2,349           2,349  
Net loss (42,645) $ (26,961) $ (15,684)         (42,645)
Ending balance (in shares) at Dec. 31, 2025   170,436,795 95,068,747 169,032,000 95,069,000      
Ending balance at Dec. 31, 2025 $ 1,590,849     $ 2 $ 1 $ 6,378,041 $ (465) $ (4,786,730)
v3.25.4
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Cash flows from operating activities:        
Net loss $ (42,645) $ (38,208) $ (94,515) $ (161,977)
Adjustments to reconcile net loss to net cash provided by operating activities:        
Depreciation and amortization 35,621 23,149 59,954 45,976
Stock-based compensation 452,624 378,730 803,751 664,876
Impairment charges for leases and leasehold improvements 0 0 26,673 0
Deferred income taxes (48,628) (2,161) (48,708) (2,929)
Amortization of interest rate swap contracts (1,611) (6,865) (7,163) (14,020)
Net loss (gain) on strategic investments 2,555 2,611 (23,971) 17,903
Net foreign currency loss (gain) (504) (5,621) 1,327 (2,581)
Other (88) (968) 80 23
Changes in operating assets and liabilities, net of business combinations:        
Accounts receivable, net (367,390) (211,755) (126,029) (67,725)
Prepaid expenses and other assets (43,578) (25,759) (136,259) (65,673)
Accounts payable 35,315 24,863 10,358 14,719
Accrued expenses and other liabilities 32,956 30,464 (82,060) (77,704)
Deferred revenue 123,178 183,425 (76,919) 81,509
Net cash provided by operating activities 177,805 351,905 306,519 432,397
Cash flows from investing activities:        
Business combinations, net of cash acquired (1,213,177) 0 (1,228,875) (4,975)
Purchases of property and equipment (9,289) (9,336) (23,401) (15,487)
Purchases of strategic investments (5,000) (11,500) (5,000) (25,550)
Purchases of marketable securities (4,496) (116,619) (67,259) (160,323)
Proceeds from maturities of marketable securities 53,222 25,480 85,109 71,628
Proceeds from sales of strategic investments 34,840 271 34,840 4,313
Net cash used in investing activities (1,143,900) (111,704) (1,204,586) (130,394)
Cash flows from financing activities:        
Repurchases of Class A Common Stock (197,440) (69,241) (450,246) (252,851)
Other 0 0 0 (3,143)
Net cash used in financing activities (197,440) (69,241) (450,246) (255,994)
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash (823) (9,056) (6,752) (5,492)
Net increase (decrease) in cash, cash equivalents, and restricted cash (1,164,358) 161,904 (1,355,065) 40,517
Cash, cash equivalents, and restricted cash at beginning of period 2,323,055 2,056,735 2,513,762 2,178,122
Cash, cash equivalents, and restricted cash at end of period 1,158,697 2,218,639 1,158,697 2,218,639
Reconciliation of cash, cash equivalents, and restricted cash within the condensed consolidated balance sheets to the amounts shown in the condensed consolidated statements of cash flows above:        
Cash and cash equivalents 1,158,122 2,217,604 1,158,122 2,217,604
Restricted cash included in other non-current assets 575 1,035 575 1,035
Total cash, cash equivalents, and restricted cash 1,158,697 2,218,639 1,158,697 2,218,639
Non-cash investing and financing activities:        
Purchase of property and equipment included in accrued expenses and other current liabilities 3,702 3,849 3,702 3,849
Repurchases of Class A Common Stock included in accrued expenses and other current liabilities $ 4,270 $ 2,375 $ 4,270 $ 2,375
v3.25.4
Description of Business
 6 Months Ended
Dec. 31, 2025
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. The Company’s team collaboration software enables organizations to connect all teams through a system of work that unlocks productivity at scale. The Company’s portfolio of interconnected apps, AI agents, and products, each with discrete value propositions, delivers solutions for software teams, IT operations and support teams, leadership, and business teams. Atlassian puts AI at the center of the Company’s portfolio to enhance teamwork for users across apps and Collections, a carefully curated set of apps and agents designed to solve complex tasks. These apps, agents, and Collections are all built on the Atlassian Cloud Platform and data model: a common technology foundation that seamlessly connects teams, information, and workflows throughout an organization.
The Company’s fiscal year ends on June 30 of each year. References to fiscal year 2026, for example, refer to the fiscal year ending June 30, 2026.
v3.25.4
Summary of Significant Accounting Policies
 6 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies
2. Summary of Significant Accounting Policies
Basis of Presentation
The accompanying condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”), which are established primarily by the Financial Accounting Standards Board (“FASB”).
The accompanying condensed consolidated financial statements contain all normal recurring adjustments which are necessary to fairly present the condensed consolidated balance sheets as of December 31, 2025 and June 30, 2025, the statements of operations, comprehensive income (loss), stockholders’ equity, and cash flows for the three and six months ended December 31, 2025 and 2024.
These condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the disclosures made are sufficient to make the information not misleading. Results of operations for interim periods are not necessarily indicative of results for the entire year or of the results to be expected in future periods.
Principles of Consolidation
The accompanying condensed 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 condensed consolidated financial statements in conformity with GAAP requires management to make certain estimates and assumptions in the Company’s condensed consolidated financial statements. These estimates are based on information available as of the date of the condensed consolidated financial statements. Such management estimates and assumptions include, but are not limited to, the determination of:
•the standalone selling price 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 and derives revenue primarily from fees earned from subscription-based arrangements for providing customers with software in a cloud-based-infrastructure that the Company provides, and from the sale of on-premises term license agreements.
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 has identified the CEO, Mike Cannon-Brookes, as the CODM. The CODM manages the Company using consolidated financial information. Further, the Company offers a connected portfolio of apps that are built on a single Atlassian platform and data model. Accordingly, the Company has determined it operates as a single operating and reportable segment.
The CODM uses consolidated net loss to allocate resources, including headcount, and make business investment decisions during the Company’s budgeting process. The CODM also uses consolidated net loss to assess performance by comparing the consolidated results to forecasts. Significant segment expenses are organized by function and are presented on the condensed consolidated statements of operations. Other segment items included in consolidated net loss are: other income and expense, net, interest income, interest expense, and the provision for income taxes, which are reflected in the condensed consolidated statements of operations.
Significant Accounting Policies
There were no significant changes to the Company’s significant accounting policies disclosed in Note 2, “Summary of Significant Accounting Policies,” of its Annual Report on Form 10-K for fiscal year 2025, which was filed with the SEC on August 15, 2025.
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. 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 the Company’s 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 receivable and contract assets are credit-impaired. As of December 31, 2025, and June 30, 2025, no customer represented more than 10% of the total accounts receivable balance. For the three and six months ended December 31, 2025, and 2024, no customer represented more than 10% of total revenues.
New Accounting Standards Not Yet Adopted in Fiscal Year 2026
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 annual reporting periods beginning after December 15, 2024. The Company is currently evaluating the impact of the new guidance and expects to adopt ASU 2023-09 in its consolidated financial statements for the year ended June 30, 2026. The adoption will require certain additional disclosure in the notes to the Company's consolidated financial statements.
In November 2024, the FASB issued ASU No. 2024-03 “Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures.” This ASU requires disaggregated disclosure of income statement expenses for public entities. The ASU does not change the expense captions an entity presents on the face of the income statement; rather, it requires disaggregation of certain expense captions into specified categories in disclosures within the footnotes to the financial statements. This ASU is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. The Company is currently evaluating the impact of the new guidance on its consolidated financial statements and disclosures.
In July 2025, the FASB issued ASU 2025-05 “Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets for Private Companies and Certain Not-for-Profit Entities,” which amends ASC 326-20 to provide a practical expedient and an accounting policy election (for all entities, other than public business entities that elect the practical expedient) related to the estimation of expected credit losses for current accounts receivable and current contract assets that arise from transactions accounted for under ASC 606. This ASU is effective for fiscal years beginning after December 15, 2025, and early adoption is permitted. 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 September 2025, the FASB issued ASU 2025-06 “Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software.” This ASU makes targeted improvements to the accounting for internally developed software subject to ASC 350-40. This ASU is effective for fiscal years beginning after December 15, 2027, and early adoption is permitted. The Company is currently evaluating the impact of the new guidance on its consolidated financial statements.
In November 2025, the FASB issued ASU 2025-11 “Interim Reporting, (Topic 270),” which clarifies interim reporting guidance and centralizes condensed interim disclosure requirements. This ASU is effective for interim periods within fiscal years beginning after December 15, 2027, and early adoption is permitted. The Company is currently evaluating the impact of the new guidance on its consolidated financial statements and disclosures.
In December 2025, the FASB issued ASU 2025-12, “Codification Improvements,” which clarifies guidance and makes minor improvements across various topics, including earnings per share, receivables, revenue, income taxes, and equity. This ASU is effective for annual periods beginning after December 15, 2026, and interim periods within those annual periods, with early adoption permitted. The Company is currently evaluating the impact of the new guidance on its consolidated financial statements and disclosures.
v3.25.4
Fair Value Measurements
 6 Months Ended
Dec. 31, 2025
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 December 31, 2025, by level within the fair value hierarchy (in thousands):
Level 1Level 2Total
Assets measured at fair value
Cash and cash equivalents:
Money market funds$515,441 $— $515,441 
Marketable securities:
U.S. treasury securities— 197,753 197,753 
Agency securities— 3,210 3,210 
Certificates of deposit and time deposits— 10,000 10,000 
Commercial paper— 12,433 12,433 
Corporate debt securities— 184,536 184,536 
Derivative financial instruments— 21,658 21,658 
Total assets measured at fair value$515,441 $429,590 $945,031 
Liabilities measured at fair value
Derivative financial instruments$— $4,846 $4,846 
Total liabilities measured at fair value$— $4,846 $4,846 
The following table presents the Company’s financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2025, by level within the fair value hierarchy (in thousands):
Level 1Level 2Total
Assets measured at fair value
Cash and cash equivalents:
Money market funds$1,774,138 $— $1,774,138 
Corporate debt securities— 382 382 
Marketable securities:
U.S. treasury securities— 176,661 176,661 
Agency securities— 3,216 3,216 
Certificates of deposit and time deposits— 10,000 10,000 
Commercial paper— 19,697 19,697 
Corporate debt securities— 214,694 214,694 
Derivative financial instruments— 23,234 23,234 
Total assets measured at fair value$1,774,138 $447,884 $2,222,022 
Liabilities measured at fair value
Derivative financial instruments$— $2,445 $2,445 
Total liabilities measured at fair value$— $2,445 $2,445 
Due to the short-term nature of accounts receivable, 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 is classified within Level 3. The Company’s privately held debt and equity securities amounted to $156.1 million and $168.8 million as of December 31, 2025, and June 30, 2025, respectively.
v3.25.4
Investments
 6 Months Ended
Dec. 31, 2025
Investments, Debt and Equity Securities [Abstract]  
Investments
4. Investments
Marketable Securities
The Company’s investments of marketable securities as of December 31, 2025, consisted of the following (in thousands):
 Amortized CostUnrealized GainsUnrealized LossesFair Value
U.S. treasury securities$197,135 $618 $— $197,753 
Agency securities3,199 11 — 3,210 
Certificates of deposit and time deposits10,000 — — 10,000 
Commercial paper12,433 — — 12,433 
Corporate debt securities183,962 574 — 184,536 
Total marketable securities$406,729 $1,203 $— $407,932 
The Company’s investments of marketable securities as of June 30, 2025, consisted of the following (in thousands):
 Amortized CostUnrealized GainsUnrealized LossesFair Value
U.S. treasury securities$176,338 $388 $(65)$176,661 
Agency securities3,197 19 — 3,216 
Certificates of deposit and time deposits10,000 — — 10,000 
Commercial paper19,697 — — 19,697 
Corporate debt securities214,190 527 (23)214,694 
Total marketable securities$423,422 $934 $(88)$424,268 
The table below summarizes the Company’s marketable securities by remaining contractual maturity (in thousands):
December 31, 2025June 30, 2025
Due in one year or less$310,866 $271,923 
Due in one year through five years97,066 152,345 
Total marketable securities$407,932 $424,268 
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 December 31, 2025, and June 30, 2025, unrealized losses and the related risk of expected credit losses were not material.
Strategic Investments
Carrying value of privately held debt securities
The Company’s investments of privately held debt securities as of December 31, 2025, consisted of the following (in thousands):
Amortized CostUnrealized GainsUnrealized LossesFair Value
Privately held debt securities$7,430 $— $(3,250)$4,180 
The Company’s investments of privately held debt securities as of June 30, 2025, consisted of the following (in thousands):
Amortized CostUnrealized GainsUnrealized LossesFair Value
Privately held debt securities$7,780 $— $(3,350)$4,430 
Carrying value of privately held equity securities
Privately held equity securities are measured using the measurement alternative. The carrying value is measured as the total initial cost plus the cumulative net gain (loss).
The carrying values for privately held equity securities as of December 31, 2025 are summarized below (in thousands):
Privately held equity securities
Initial total cost$142,302 
Cumulative net gains (losses)9,604 
Carrying value$151,906 
Privately held equity securities’ cumulative net losses are composed of downward adjustments and impairment charges of $5.4 million and upward adjustments of $15.0 million as of December 31, 2025.
During the three months ended December 31, 2025, the Company sold its holdings of its publicly traded equity securities. As such, the Company did not have any publicly traded equity securities as of December 31, 2025.
The carrying values for privately held equity securities as of June 30, 2025 are summarized below (in thousands):
Privately held equity securities
Initial total cost$166,302 
Cumulative net losses(1,909)
Carrying value$164,393 
Privately held equity securities’ cumulative net losses are composed of downward adjustments and impairment charges of $8.5 million and upward adjustments of $6.6 million as of June 30, 2025.
Gains and Losses on Strategic Investments
The components of gains and losses on strategic investments were as follows (in thousands):
Three Months Ended December 31,Six Months Ended December 31,
2025202420252024
Unrealized gains recognized on publicly traded equity securities$— $— $24,729 $— 
Unrealized gains recognized on privately held equity securities7,549 — 9,846 — 
Unrealized losses recognized on privately held equity securities including impairment(749)— $(1,249)$— 
Unrealized losses on privately held debt securities(250)— (250)— 
Unrealized gains, net$6,550 $— $33,076 $— 
Realized losses recognized on sales of publicly traded equity securities(10,070)— (10,070)— 
Realized losses recognized on privately held equity securities— (2,611)— (2,645)
Realized gains recognized on privately held equity securities965 — 965 — 
Gains (losses) on strategic investments, net$(2,555)$(2,611)$23,971 $(2,645)
Unrealized gains recognized during the reporting period on privately held equity securities still held at the reporting date
$6,800 $— $8,597 $— 
Unrealized gains recognized on privately held equity securities include upward adjustments from equity securities accounted for under the measurement alternative, while unrealized losses recognized on privately held equity securities include downward adjustments and impairment. Realized gains on sales of privately held securities, net, reflect 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.
Realized gains and losses recognized on sales of publicly traded equity securities reflect the difference between the sale proceeds and the carrying value of the security at the beginning of the period.
Equity Method Investment
Vertical First Trust (“VFT”) was established for the construction project associated with the Company’s new global headquarters in Sydney, Australia (the “Australian HQ Property”). In fiscal year 2023, the Company completed a non-cash sale of the controlling interest of VFT to a third-party buyer as part of the contemplated transactions for the buyer to invest in and develop the Australian HQ Property. The Company retained a minority equity interest of 13% in the form of ordinary units in VFT and has significant influence in VFT. The Company’s interest in VFT is accounted for using the equity method in the condensed consolidated financial statements. Under the equity method, the Company records its proportionate share of VFT’s earnings or losses.
The following table sets forth the carrying amounts of the equity method investment and the movements during fiscal year 2025 and the six months ended December 31, 2025 (in thousands):
Equity Method Investment
Balance as of June 30, 2024
$74,510 
Share of losses(20,433)
Effect of change in exchange rates(958)
Balance as of June 30, 2025
53,119 
Share of losses
— 
Effect of change in exchange rates774 
Balance as of December 31, 2025
$53,893 
The carrying amount of the Company’s investment in VFT was reported within strategic investments in the condensed consolidated balance sheets.
v3.25.4
Derivative Contracts
 6 Months Ended
Dec. 31, 2025
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 December 31, 2025 (in thousands):
Notional Amounts of Derivative Instruments
Notional Amount by Term to MaturityClassification by Notional Amount
Under 12 monthsOver 12 monthsTotalCash Flow HedgeNon HedgeTotal
Forward contracts$1,008,770 $65,189$1,073,959$760,817$313,142 $1,073,959
The following table sets forth the notional amounts of the Company’s hedging derivative instruments as of June 30, 2025 (in thousands):
Notional Amounts of Derivative Instruments
Notional Amount by Term to MaturityClassification by Notional Amount
Under 12 monthsOver 12 monthsTotalCash Flow HedgeNon HedgeTotal
Forward contracts$1,064,280 $79,858$1,144,138$765,613$378,525 $1,144,138

The fair values of the Company’s derivative instruments were as follows (in thousands):
Balance Sheet LocationDecember 31, 2025June 30, 2025
Derivative assets
Derivatives designated as hedging instruments:
Foreign exchange forward contractsPrepaid expenses and other current assets$18,423 $16,210 
Foreign exchange forward contractsOther non-current assets926 3,715 
Derivatives not designated as hedging instruments:
Foreign exchange forward contractsPrepaid expenses and other current assets2,309 3,309 
Total derivative assets$21,658 $23,234 
Derivative liabilities
Derivatives designated as hedging instruments:
Foreign exchange forward contractsAccrued expenses and other current liabilities$4,493 $2,409 
Foreign exchange forward contractsOther non-current liabilities185 — 
Derivatives not designated as hedging instruments:
Foreign exchange forward contractsAccrued expenses and other current liabilities168 36 
Total derivative liabilities$4,846 $2,445 
The pre-tax effects of derivatives designated as cash flow hedging instruments on the condensed consolidated financial statements were as follows (in thousands):
Three Months Ended December 31,Six Months Ended December 31,
2025202420252024
Beginning balance of accumulated gains in accumulated other comprehensive income (loss)$13,991 $51,930 $24,679 $41,424 
Gross unrealized gains (losses) recognized in other comprehensive income (loss)3,216 (57,867)(3,493)(39,852)
Net losses (gains) reclassified from cash flow hedge in accumulated other comprehensive income (loss) into profit or loss:
Recognized in cost of revenues181 32 361 (11)
Recognized in research and development(1,731)(2,049)(648)(2,489)
Recognized in marketing and sales(32)(48)15 9 
Recognized in general and administrative571 (400)834 (328)
Recognized in interest expense(1,611)(6,865)(7,163)(14,020)
Ending balance of accumulated gains in accumulated other comprehensive income (loss)$14,585 $(15,267)$14,585 $(15,267)
v3.25.4
Property and Equipment
 6 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Property and Equipment
6. Property and Equipment
Property and equipment, net consisted of the following (in thousands):
December 31, 2025June 30, 2025
Equipment$19,458 $15,008 
Computer hardware and software63,282 58,559 
Furniture and fittings27,521 25,217 
Leasehold improvements and other142,219 154,113 
Property and equipment, gross252,480 252,897 
Less: accumulated depreciation(154,528)(147,779)
Property and equipment, net$97,952 $105,118 
Depreciation expense was $10.3 million and $9.3 million for the three months ended December 31, 2025, and 2024, respectively, and $21.0 million and $18.2 million for the six months ended December 31, 2025 and 2024, respectively.
During the six months ended December 31, 2025, the Company recorded a $1.1 million impairment charge, which is recorded in leasehold improvements and other, as a result of its facilities consolidation restructuring efforts. Refer to Note 14, “Restructuring,” for additional information.
v3.25.4
Business Combinations
 6 Months Ended
Dec. 31, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Business Combinations
7. Business Combinations
The Browser Company of New York Inc.
On October 20, 2025, the Company acquired 100% of the outstanding equity of The Browser Company of New York Inc. (“BCNY”), the company behind the Dia and Arc browsers. The total purchase price was $488.3 million, composed of $481.5 million in cash and $6.8 million in non-cash settlement of existing BCNY shares included in our strategic investments. The acquisition of BCNY further expands offerings to Atlassian customers by providing a browser for enterprises designed for knowledge workers using SaaS applications in the AI-era.
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$22,160 
Prepaid expenses and other current assets1,235 
Intangible assets, net91,000 
Goodwill376,885 
Accrued expenses and other current liabilities(2,102)
Deferred tax liabilities(832)
Net assets acquired$488,346 
The excess of purchase price 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 providing the BCNY browsers to customers as an additional product along with existing Company offerings. 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 and based on management’s estimates and assumptions which 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 no 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 (in thousands, except for useful life):
Fair ValueUseful Life
Developed Technology$80,000 3
Trade Name11,000 3
Developed technology represents the estimated fair value of BCNY’s AI-enabled browser technology. Trade name represents the estimated fair value of the BCNY trade name.
In connection with the transaction, the Company granted $8.2 million worth of replacement awards in the form of restricted stock unit (“RSU”) awards to BCNY employees and $97.0 million worth of RSU awards to certain key BCNY employees. The fair value of the RSU awards was based on the stock price of the Company on the grant date. The RSU awards are subject to future vesting provisions based on service conditions, and the related expense is accounted for as stock-based compensation and classified in the condensed consolidated statement of operations according to the activities that the employees perform.
A Software Company
On November 10, 2025, the Company acquired 100% of the outstanding equity of A Software Company (“DX”), which specializes in engineering intelligence. The acquisition of DX further expands the offerings to Atlassian customers and enhances our Collections. The total purchase price was composed of $720.4 million in cash.
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$27,910 
Accounts Receivable6,529 
Other non-current assets9,929 
Intangible assets, net182,800 
Goodwill557,439 
Accrued expenses and other current liabilities(1,706)
Deferred revenue, current(25,482)
Deferred tax liabilities(26,865)
Other non-current liabilities(10,192)
Net assets acquired$720,362 
The excess of purchase price 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 DX engineering intelligence platform with existing Company offerings. 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 and based on management’s estimates and assumptions which 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 no 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 (in thousands, except for useful life):
Fair ValueUseful Life
Developed Technology$138,000 5
Trade Name37,000 5
Customer Relationships4,800 5
Backlog3,000 3
Developed technology represents the estimated fair value of DX’s engineering intelligence technology. Trade name represents the estimated fair value of the DX trade name.
In connection with the transaction, the Company granted $201.8 million in restricted stock and provided $38.9 million in deferred cash compensation to certain key DX employees. The fair value of the restricted stock was based on the Company’s stock price on the grant date. Both the restricted stock and cash compensation are subject to future vesting provisions based on service conditions. The related expense for the restricted stock and cash compensation is accounted for as employee compensation expense, specifically stock-based compensation related to the restricted stock, and is classified in the condensed consolidated statement of operations according to the activities that the employees perform.
Other Fiscal Year 2026 Business Combinations
During the six months ended December 31, 2025, the Company completed two additional acquisitions to expand its offerings. The transactions were accounted for as business combinations and were not material individually or in the aggregate to the condensed consolidated financial statements.
Total transaction costs incurred related to the Company’s fiscal year 2026 business combinations were not material.
The Company has included the financial results of each business combination in its condensed consolidated financial statements from the date of acquisition, which were not material for the three months ended December 31, 2025. Pro forma results of operations have not been presented for the three and six months ended December 31, 2025 and 2024 because the effect of the acquisitions individually and in the aggregate would not be material to our condensed consolidated financial statements.
v3.25.4
Goodwill and Intangible Assets
 6 Months Ended
Dec. 31, 2025
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 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, 2025$1,304,445 
Additions999,243 
Effect of change in exchange rates1,444 
Balance as of December 31, 2025$2,305,132 
Intangible Assets
Intangible assets consisted of the following as of December 31, 2025 (in thousands):
Gross Carrying AmountAccumulated AmortizationNet
Acquired developed technology$700,262 $(308,005)$392,257 
Patents, trade names, and other rights118,928 (42,066)76,862 
Customer relationships143,487 (117,647)25,840 
Total Intangible Assets$962,677 $(467,718)$494,959 
Intangible assets consisted of the following as of June 30, 2025 (in thousands):
Gross Carrying AmountAccumulated AmortizationNet
Acquired developed technology$466,932 $(278,525)$188,407 
Patents, trade names, and other rights70,928 (37,337)33,591 
Customer relationships135,687 (112,845)22,842 
Total Intangible Assets$673,547 $(428,707)$244,840 
The weighted-average remaining useful lives of the Company’s acquired intangible assets as of December 31, 2025 were as follows:
Weighted-Average Remaining Useful Lives (Years)
Acquired developed technology4
Patents, trade names, and other rights5
Customer relationships3
Amortization expense for intangible assets was approximately $25.4 million and $13.9 million for the three months ended December 31, 2025, and 2024, respectively and $39.0 million and $27.8 million for the six months ended December 31, 2025 and 2024, respectively.
The following table presents the estimated future amortization expense related to intangible assets held as of December 31, 2025 (in thousands):
Fiscal Years:
Remainder of 2026$62,518 
2027120,083 
2028117,321 
202987,843 
203073,839 
Thereafter33,355 
Total future amortization expense$494,959 
v3.25.4
Accrued Expenses and Other Current Liabilities
 6 Months Ended
Dec. 31, 2025
Other Liabilities Disclosure [Abstract]  
Accrued Expenses and Other Current Liabilities
9. Accrued Expenses and Other Current Liabilities
Accrued expenses and other current liabilities consisted of the following (in thousands):
 December 31, 2025June 30, 2025
Accrued expenses$216,138 $180,197 
Employee benefits320,210 422,986 
Tax liabilities9,182 36,726 
Customer deposits19,153 16,396 
Other payables39,167 25,296 
Total accrued expenses and other current liabilities$603,850 $681,601 
v3.25.4
Debt
 6 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Debt
10. Debt
Credit Facility
In August 2024, the Company’s principal U.S. operating subsidiary, Atlassian US, Inc., entered into an amended and restated credit agreement (the "2024 Credit Agreement"), which eliminated a term loan facility and provides for a $750 million senior unsecured revolving credit facility (the “2024 Credit Facility”). The 2024 Credit Agreement replaced the Company's prior credit agreement entered into in October 2020 (“2020 Credit Agreement”), which provided for a $1 billion senior unsecured delayed-draw term loan facility (the “Term Loan”) and a $500 million senior unsecured revolving 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. As of December 31, 2025 there were no borrowings under the 2024 Credit Facility.
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. As of December 31, 2025, the Company was in compliance with all covenants associated with the 2024 Credit Facility.
Senior 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 2029 Notes and the 2034 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 the Company’s ability to incur certain liens and enter into certain sale and leaseback transactions), events of default, and other customary provisions. As of December 31, 2025, 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, were $985.7 million. The net proceeds were used primarily to repay the Term Loan.
The components of the Notes were as follows (in thousands, except percentage data):
InstrumentExpected Remaining Term (years)Contractual Interest RateEffective Interest RateDecember 31, 2025June 30, 2025
2029 Notes3.45.250 %5.55 %$500,000 $500,000 
2034 Notes8.45.500 %5.71 %500,000 500,000 
Unamortized debt discount and issuance costs(11,391)(12,316)
Long-term debt$988,609 $987,684 
The total estimated fair value of the Notes was approximately $1.04 billion and $1.03 billion as of December 31, 2025, and June 30, 2025, respectively. The estimated fair value of the Notes, which the Company deems Level 2 financial instruments, was determined based on quoted bid prices in an over-the-counter market on the last trading day of the reporting period.
v3.25.4
Commitments and Contingencies
 6 Months Ended
Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies
11. Commitments and Contingencies
Noncancellable Purchase Obligations
The Company has contractual commitments for services with third parties related to its cloud services platform, marketing-related contracts, and other services. These commitments are non-cancellable and expire within two to seven years, as disclosed in Note 11, “Commitments and Contingencies” of its Annual Report on Form 10-K for fiscal year 2025.
Operating Leases
During the six months ended December 31, 2025, the Company recorded a $25.2 million impairment charge for operating lease right-of-use assets as a result of its facilities consolidation restructuring efforts. Refer to Note 14, “Restructuring,” for additional information.
There were no other material changes to the Company’s operating lease arrangements and future lease payments under non-cancelable operating leases, including obligations for leases that have not yet commenced, disclosed in Note 9, “Leases,” of the Company’s Annual Report on Form 10-K for fiscal year 2025.
Supplemental information related to operating leases were as follows (in thousands):
 Three Months Ended December 31,Six Months Ended December 31,
 2025202420252024
Operating lease costs
$9,803 $10,909 $20,428 $21,575 
Right-of-use assets obtained in exchange for new operating lease liabilities$— $13,363 $239 $20,789 
Legal Proceedings
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 pending legal matters 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 condensed 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 its condensed consolidated financial statements.
v3.25.4
Revenue
 6 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
Revenue
12. Revenue
Remaining Performance Obligations
The 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 December 31, 2025, approximately $3.8 billion of revenue is expected to be recognized from the transaction price allocated to remaining performance obligations. The Company expects to recognize revenue on approximately 71% 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 offerings were as follows (in thousands):
 Three Months Ended December 31,Six Months Ended December 31,
 2025202420252024
Americas
United States$648,343 $537,396 $1,261,360 $1,043,623 
Other Americas97,905 81,769 190,674 160,041 
Total Americas746,248 619,165 1,452,034 1,203,664 
EMEA
Germany166,166 131,991 308,144 249,793 
Other EMEA497,174 393,491 921,275 744,958 
Total EMEA663,340 525,482 1,229,419 994,751 
Asia Pacific176,727 141,816 337,415 275,829 
Total revenues$1,586,315 $1,286,463 $3,018,868 $2,474,244 
The Company’s revenues by deployment options were as follows (in thousands):
 Three Months Ended December 31,Six Months Ended December 31,
 2025202420252024
Cloud$1,067,027 $846,962 $2,064,735 $1,639,268 
Data Center435,616 362,281 808,264 697,875 
Marketplace and other83,672 77,220 145,869 137,101 
Total revenues$1,586,315 $1,286,463 $3,018,868 $2,474,244 
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 condensed consolidated statements of operations.
In September 2025, the Company announced plans to end-of-life its Data Center deployment offering. Beginning in March 2026, the Company will no longer sell term licenses to new customers, and the Company will stop selling term licenses and expansions to existing customers in March 2028. Subject to limited exceptions, the Company plans to end maintenance and support for its Data Center offerings in March 2029.
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 that are refundable. The changes in the balances of deferred revenue were as follows (in thousands):
Three Months Ended December 31,Six Months Ended December 31,
2025202420252024
Balance, beginning of period$2,281,156 $2,012,820 $2,481,254 $2,114,736 
Additions1,736,668 1,469,888 2,969,123 2,555,753 
Revenue(1,586,315)(1,286,463)(3,018,868)(2,474,244)
Balance, end of period$2,431,509 $2,196,245 $2,431,509 $2,196,245 
For the three months ended December 31, 2025 and 2024, approximately 40% and 41% of revenue recognized was from the deferred revenue balances at the beginning of each fiscal year, respectively. For the six months ended December 31, 2025 and 2024, approximately 50% and 51% 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 were as follows (in thousands):
Three Months Ended December 31,Six Months Ended December 31,
2025202420252024
Balance, beginning of period$140,598 $83,444 $136,340 $79,711 
Additions43,657 23,833 62,754 36,063 
Amortization expense(15,966)(10,026)(30,805)(18,523)
Balance, end of period$168,289 $97,251 $168,289 $97,251 
Deferred contract acquisition costs included in:
Prepaid expenses and other current assets$62,443 $36,578 
Other non-current assets105,846 60,673 
Total$168,289 $97,251 
There were no impairment losses recorded during the periods presented.
v3.25.4
Geographic Information
 6 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Geographic Information
13. Geographic Information
The Company’s long-lived assets by geographic regions were as follows (in thousands):
December 31, 2025June 30, 2025
United States$129,828 $168,841 
Australia50,814 54,073 
India30,096 34,909 
All other countries 13,689 16,422 
Total long-lived assets$224,427 $274,245 
Long-lived assets for this purpose consist of property and equipment and operating lease right-of-use assets.
v3.25.4
Restructuring
 6 Months Ended
Dec. 31, 2025
Restructuring and Related Activities [Abstract]  
Restructuring
14. Restructuring
During the first quarter of fiscal year 2026, the Company initiated a rebalancing of resources resulting in the elimination of certain roles. These actions were part of the Company’s initiatives to reduce additional capacity no longer necessary due to the increased ability, accessibility, performance, stability, and supportability of its products. As a result, the Company recorded severance and other termination benefits of $27.9 million, and stock-based compensation of $1.4 million for the affected employees for the six months ended December 31, 2025.
In addition, during the first quarter of fiscal year 2026, the Company exited certain floors of a leased property, which it plans to sublease, in order to optimize its real estate footprint. As a result, the Company recorded impairment charges for the related operating lease right-of-use assets and leasehold improvements of $26.3 million for the six months ended December 31, 2025. The fair values of the impaired assets were estimated using discounted cash flow models (income approach) based on market participant assumptions with Level 3 fair value inputs. The assumptions used in estimating fair value include the expected downtime prior to the commencement of future subleases, projected sublease income over the remaining lease periods, and discount rates that reflect the level of risk associated with receiving future cash flows.
The execution of these actions, including cash payment of the severance and other termination benefits and related liabilities, was substantially completed as of December 31, 2025.
A summary of the Company’s restructuring charges for the six months ended December 31, 2025, by major activity type was as follows (in thousands):
Severance and Other Termination BenefitsStock-based CompensationLease ConsolidationTotal
Cost of revenue$27,794 $1,432 $2,366 $31,592 
Research and development— — 12,102 12,102 
Marketing and sales— — 8,154 8,154 
General and administrative95 — 3,735 3,830 
Total$27,889 $1,432 $26,357 $55,678 
The following table is a summary of the changes in the liabilities, included within accrued expenses and other current liabilities on the condensed consolidated balance sheets as of December 31, 2025, related to the restructuring charges (in thousands):
Severance and Other Termination BenefitsStock-based CompensationLease ConsolidationTotal
Charges$27,889 $1,432 $26,357 $55,678 
Payments(22,215)— (50)(22,265)
Non-cash items(446)(1,432)(26,307)(28,185)
Liability as of December 31, 2025
$5,228 $— $— $5,228 
v3.25.4
Stockholder's Equity
 6 Months Ended
Dec. 31, 2025
Equity [Abstract]  
Stockholders' Equity
15. Stockholders’ Equity
Stock-based Compensation
A summary of RSU activity for the six months ended December 31, 2025 was as follows (in thousands except share and per share data):
Number of SharesWeighted Average Grant Date Fair ValueAggregate Intrinsic Value
Balance as of June 30, 2025$16,578,020 $190.98 $3,366,830 
Granted13,120,190 166.45 — 
Vested(3,833,577)195.82 604,727 
Forfeited or cancelled(1,598,962)179.38 — 
Balance as of December 31, 2025$24,265,671 $177.56 $3,934,436 
As of December 31, 2025, total compensation cost not yet recognized in the condensed consolidated financial statements related to employee and director RSU awards was $3.3 billion.
During the six months ended December 31, 2025, the Company granted 1,353,312 shares of restricted stock awards (“RSA”) in connection with business combinations. During the six months ended December 31, 2024, the Company did not grant any shares of RSA. As of December 31, 2025 and June 30, 2025, there were 1,405,418 and 90,083 shares of RSA outstanding, respectively. These outstanding shares of RSA 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 shares of RSA was $227.9 million and $18.3 million as of December 31, 2025 and June 30, 2025, respectively.
Share Repurchase Program
In September 2024, the Board of Directors authorized a program to repurchase up to $1.5 billion of the Company’s outstanding Class A Common Stock (the “2024 Repurchase Program”). The 2024 Repurchase Program commenced in April 2025 following completion of the previous repurchase program.
In October 2025, the Board of Directors authorized a new program under which the Company may repurchase up to an additional $2.5 billion of the Company’s outstanding Class A Common Stock (the “2025 Repurchase Program” and, together with the 2024 Repurchase Program, the “Repurchase Programs”). The 2025 Repurchase Program will commence following completion of the 2024 Repurchase Program.
The Repurchase Programs do not have a fixed expiration date, may be suspended or discontinued at any time, and do 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 Securities Exchange Act of 1934, as amended (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 the three and six months ended December 31, 2025, the Company repurchased and subsequently retired approximately 1.3 million and 2.7 million shares of its Class A Common Stock for approximately $200.4 million and $450.3 million at an average price per share of $156.74 and $169.21, respectively. All repurchases were made in open market transactions. As of December 31, 2025, the Company was authorized to purchase a remaining $720.9 million and $2.5 billion of its Class A Common Stock under the 2024 Share Repurchase Program and 2025 Share Repurchase Program, respectively.
v3.25.4
Net Loss Per Share
 6 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Net Loss Per Share
16. Net Loss Per Share
The Company computes net loss per share of Class A and Class B Common Stock using the two-class method. As the liquidation and dividend rights for both Class A and Class B Common Stock are identical, the net loss is allocated on a proportionate basis to the weighted-average number of shares of common stock outstanding for the period. Basic net loss per share attributable to Class A and Class B stockholders is computed by dividing the net loss by the weighted-average number of Class A and Class B Common Stock outstanding during the period.
For the calculation of diluted net loss per share, net loss for basic earnings per share is adjusted by the effect of dilutive securities, including awards under the Company’s equity compensation plans. The dilutive potential shares of common stock are computed using the treasury stock method or the as-if converted method, as applicable. Since the Company is in a loss position for all periods reported, basic and diluted net loss per share are the same for all periods as the inclusion of potential dilutive shares would have been anti-dilutive.
The following tables present the calculation of basic and diluted net loss per share attributable to common stockholders (in thousands, except per share data):
 Three Months Ended December 31,Six Months Ended December 31,
 2025202420252024
Class AClass BClass AClass BClass AClass BClass AClass B
Numerator:
Net loss$(26,961)$(15,684)$(23,725)$(14,483)$(59,171)$(35,344)$(100,188)$(61,789)
Denominator:
Weighted-average shares outstanding, basic and diluted166,79797,031162,15898,989164,90698,503161,32199,491
Net loss per share, basic and diluted$(0.16)$(0.16)$(0.15)$(0.15)$(0.36)$(0.36)$(0.62)$(0.62)
The potential weighted average dilutive securities that were not included in the dilutive earnings per share calculation because the effect would be anti-dilutive were as follows (shares in thousands):
Three Months Ended December 31,Six Months Ended December 31,
2025202420252024
Class A Common Stock restricted stock units16,7626,80512,6668,598
Class A Common Stock restricted stock awards69483633
Total16,8316,85312,7028,631
v3.25.4
Income Taxes
 6 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Income Taxes
17. Income Taxes
The Company computes its provision for (benefit from) income taxes by applying the estimated annual effective tax rate to year-to-date ordinary income and adjusting the provision for (benefit from) income taxes for
discrete tax items recorded in the period. In each quarter, the Company updates the estimated annual effective tax rate and makes a year-to-date adjustment to the provision. The estimated annual effective tax rate is subject to volatility due to several factors, including changes in the Company’s relative proportion of domestic and foreign earnings, current cash taxes in jurisdictions with valuation allowances, material discrete tax items, or a combination of these factors as a result of certain transactions or events.
The Company reported an income tax benefit of $13.1 million and $17.6 million for the three and six months ended December 31, 2025, respectively, as compared to an income tax benefit of $9.0 million and an income tax provision of $84.6 million for the three and six months ended December 31, 2024, respectively. The income tax benefit for the three and six months ended December 31, 2025 was primarily attributable to the mix of earnings and losses at various jurisdictions, valuation allowances in the U.S. and Australia, and non-deductible stock-based compensation in certain foreign jurisdictions.
The income tax benefit for the three months ended December 31, 2024 was primarily attributable to the mix of earnings and losses at various jurisdictions. The income tax provision for the six months ended December 31, 2024 was primarily attributable to the mix of earnings and losses at various jurisdictions, non-deductible stock-based compensation in certain foreign jurisdictions, and valuation allowances in the U.S. and Australia, partially offset by research and development tax credits and incentives.
On July 4, 2025, the U.S. government enacted The One Big Beautiful Bill Act (“OBBBA”), which includes, among other provisions, changes to the U.S. corporate income tax system such as allowing the immediate expensing of qualifying domestic research and development expenses and permanent extensions of certain provisions within the Tax Cuts and Jobs Act. Certain provisions are effective for the Company beginning in fiscal year 2026. The changes had an immaterial impact on the Company’s benefit from income taxes for the three and six months ended December 31, 2025.
The Company regularly assesses the need for a valuation allowance against its deferred tax assets. In making that assessment, the Company considers both positive and negative evidence related to the likelihood of realization of the deferred tax assets to determine, based on the weight of available evidence, whether it is more likely than not that some or all of the deferred tax assets will not be realized. Based on available evidence as of December 31, 2025, the Company will continue to maintain a valuation allowance against U.S. federal, U.S. state, and Australian deferred tax assets. The Company intends to maintain the valuation allowance until sufficient positive evidence exists to support the reversal of, or a decrease in, the valuation allowance.
v3.25.4
Subsequent Events
 6 Months Ended
Dec. 31, 2025
Subsequent Events [Abstract]  
Subsequent Events
18. Subsequent Events
Pending
v3.25.4
Insider Trading Arrangements
 3 Months Ended
Dec. 31, 2025
shares
Trading Arrangements, by Individual  
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
Rajeev Rajan [Member]  
Trading Arrangements, by Individual  
Material Terms of Trading Arrangement
On December 5, 2025, Rajeev Rajan, the Company’s Chief Technology Officer, adopted a Rule 10b5-1 trading arrangement that is intended to satisfy the affirmative defense of Rule 10b5-1(c) for the sale of (i) up to 34,457 shares of the Company’s Class A Common Stock, (ii) up to 100% of the shares of the Company’s Class A Common Stock issued upon the settlement of 21,628 outstanding RSUs, net of shares sold to cover tax withholding obligations in connection with the vesting and settlement of such RSUs, (iii) up to 65% of the shares of the Company’s Class A Common Stock issued upon the settlement of 63,886 outstanding RSUs, net of shares sold to cover tax withholding obligations in connection with the vesting and settlement of such RSUs, and (iv) up to 65% of the shares of the Company’s Class A Common Stock issued upon the settlement of any future RSUs awarded during the plan period, net of shares sold to cover tax withholding obligations in connection with the vesting and settlement of such RSUs, in each case pursuant to the terms of the plan and until March 7, 2027.
Name Rajeev Rajan
Title Chief Technology Officer
Rule 10b5-1 Arrangement Adopted true
Adoption Date December 5, 2025
Expiration Date March 7, 2027
Arrangement Duration 457 days
Gene Liu [Member]  
Trading Arrangements, by Individual  
Material Terms of Trading Arrangement
On December 5, 2025, Gene Liu, the Company’s Chief Accounting Officer, adopted a Rule 10b5-1 trading arrangement that is intended to satisfy the affirmative defense of Rule 10b5-1(c) for the sale of up to 6,432 shares of the Company’s Class A Common Stock pursuant to the terms of the plan, until March 5, 2027.
Name Gene Liu
Title Chief Accounting Officer
Rule 10b5-1 Arrangement Adopted true
Adoption Date December 5, 2025
Expiration Date March 5, 2027
Arrangement Duration 455 days
Aggregate Available 6,432
Rajeev Rajan, Rule Trading Arrangement, Common Stock [Member] | Rajeev Rajan [Member]  
Trading Arrangements, by Individual  
Aggregate Available 34,457
Rajeev Rajan, Rule Trading Arrangement, Restricted Stock Units, 55 Percent [Member] | Rajeev Rajan [Member]  
Trading Arrangements, by Individual  
Aggregate Available 21,628
Rajeev Rajan, Rule Trading Arrangement, Restricted Stock Units, 65 Percent [Member] | Rajeev Rajan [Member]  
Trading Arrangements, by Individual  
Aggregate Available 63,886
v3.25.4
Summary of Significant Accounting Policies (Policies)
 6 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Basis of Preparation
The accompanying condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”), which are established primarily by the Financial Accounting Standards Board (“FASB”).
The accompanying condensed consolidated financial statements contain all normal recurring adjustments which are necessary to fairly present the condensed consolidated balance sheets as of December 31, 2025 and June 30, 2025, the statements of operations, comprehensive income (loss), stockholders’ equity, and cash flows for the three and six months ended December 31, 2025 and 2024.
These condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the disclosures made are sufficient to make the information not misleading. Results of operations for interim periods are not necessarily indicative of results for the entire year or of the results to be expected in future periods.
Principles of Consolidation
The accompanying condensed 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 condensed consolidated financial statements in conformity with GAAP requires management to make certain estimates and assumptions in the Company’s condensed consolidated financial statements. These estimates are based on information available as of the date of the condensed consolidated financial statements. Such management estimates and assumptions include, but are not limited to, the determination of:
•the standalone selling price 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 and derives revenue primarily from fees earned from subscription-based arrangements for providing customers with software in a cloud-based-infrastructure that the Company provides, and from the sale of on-premises term license agreements.
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 has identified the CEO, Mike Cannon-Brookes, as the CODM. The CODM manages the Company using consolidated financial information. Further, the Company offers a connected portfolio of apps that are built on a single Atlassian platform and data model. Accordingly, the Company has determined it operates as a single operating and reportable segment.
The CODM uses consolidated net loss to allocate resources, including headcount, and make business investment decisions during the Company’s budgeting process. The CODM also uses consolidated net loss to assess performance by comparing the consolidated results to forecasts. Significant segment expenses are organized by function and are presented on the condensed consolidated statements of operations. Other segment items included in consolidated net loss are: other income and expense, net, interest income, interest expense, and the provision for income taxes, which are reflected in the condensed consolidated statements of operations.
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. 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 the Company’s 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 receivable and contract assets are credit-impaired.
New Accounting Standards Not Yet Adopted
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 annual reporting periods beginning after December 15, 2024. The Company is currently evaluating the impact of the new guidance and expects to adopt ASU 2023-09 in its consolidated financial statements for the year ended June 30, 2026. The adoption will require certain additional disclosure in the notes to the Company's consolidated financial statements.
In November 2024, the FASB issued ASU No. 2024-03 “Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures.” This ASU requires disaggregated disclosure of income statement expenses for public entities. The ASU does not change the expense captions an entity presents on the face of the income statement; rather, it requires disaggregation of certain expense captions into specified categories in disclosures within the footnotes to the financial statements. This ASU is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. The Company is currently evaluating the impact of the new guidance on its consolidated financial statements and disclosures.
In July 2025, the FASB issued ASU 2025-05 “Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets for Private Companies and Certain Not-for-Profit Entities,” which amends ASC 326-20 to provide a practical expedient and an accounting policy election (for all entities, other than public business entities that elect the practical expedient) related to the estimation of expected credit losses for current accounts receivable and current contract assets that arise from transactions accounted for under ASC 606. This ASU is effective for fiscal years beginning after December 15, 2025, and early adoption is permitted. 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 September 2025, the FASB issued ASU 2025-06 “Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software.” This ASU makes targeted improvements to the accounting for internally developed software subject to ASC 350-40. This ASU is effective for fiscal years beginning after December 15, 2027, and early adoption is permitted. The Company is currently evaluating the impact of the new guidance on its consolidated financial statements.
In November 2025, the FASB issued ASU 2025-11 “Interim Reporting, (Topic 270),” which clarifies interim reporting guidance and centralizes condensed interim disclosure requirements. This ASU is effective for interim periods within fiscal years beginning after December 15, 2027, and early adoption is permitted. The Company is currently evaluating the impact of the new guidance on its consolidated financial statements and disclosures.
In December 2025, the FASB issued ASU 2025-12, “Codification Improvements,” which clarifies guidance and makes minor improvements across various topics, including earnings per share, receivables, revenue, income taxes, and equity. This ASU is effective for annual periods beginning after December 15, 2026, and interim periods within those annual periods, with early adoption permitted. The Company is currently evaluating the impact of the new guidance on its consolidated financial statements and disclosures.
v3.25.4
Fair Value Measurements (Tables)
 6 Months Ended
Dec. 31, 2025
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 December 31, 2025, by level within the fair value hierarchy (in thousands):
Level 1Level 2Total
Assets measured at fair value
Cash and cash equivalents:
Money market funds$515,441 $— $515,441 
Marketable securities:
U.S. treasury securities— 197,753 197,753 
Agency securities— 3,210 3,210 
Certificates of deposit and time deposits— 10,000 10,000 
Commercial paper— 12,433 12,433 
Corporate debt securities— 184,536 184,536 
Derivative financial instruments— 21,658 21,658 
Total assets measured at fair value$515,441 $429,590 $945,031 
Liabilities measured at fair value
Derivative financial instruments$— $4,846 $4,846 
Total liabilities measured at fair value$— $4,846 $4,846 
The following table presents the Company’s financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2025, by level within the fair value hierarchy (in thousands):
Level 1Level 2Total
Assets measured at fair value
Cash and cash equivalents:
Money market funds$1,774,138 $— $1,774,138 
Corporate debt securities— 382 382 
Marketable securities:
U.S. treasury securities— 176,661 176,661 
Agency securities— 3,216 3,216 
Certificates of deposit and time deposits— 10,000 10,000 
Commercial paper— 19,697 19,697 
Corporate debt securities— 214,694 214,694 
Derivative financial instruments— 23,234 23,234 
Total assets measured at fair value$1,774,138 $447,884 $2,222,022 
Liabilities measured at fair value
Derivative financial instruments$— $2,445 $2,445 
Total liabilities measured at fair value$— $2,445 $2,445 
v3.25.4
Investments (Tables)
 6 Months Ended
Dec. 31, 2025
Investments, Debt and Equity Securities [Abstract]  
Schedule of Available-for-Sale Securities Reconciliation
The Company’s investments of marketable securities as of December 31, 2025, consisted of the following (in thousands):
 Amortized CostUnrealized GainsUnrealized LossesFair Value
U.S. treasury securities$197,135 $618 $— $197,753 
Agency securities3,199 11 — 3,210 
Certificates of deposit and time deposits10,000 — — 10,000 
Commercial paper12,433 — — 12,433 
Corporate debt securities183,962 574 — 184,536 
Total marketable securities$406,729 $1,203 $— $407,932 
The Company’s investments of marketable securities as of June 30, 2025, consisted of the following (in thousands):
 Amortized CostUnrealized GainsUnrealized LossesFair Value
U.S. treasury securities$176,338 $388 $(65)$176,661 
Agency securities3,197 19 — 3,216 
Certificates of deposit and time deposits10,000 — — 10,000 
Commercial paper19,697 — — 19,697 
Corporate debt securities214,190 527 (23)214,694 
Total marketable securities$423,422 $934 $(88)$424,268 
Schedule of Investments Classified by Contractual Maturity Date
The table below summarizes the Company’s marketable securities by remaining contractual maturity (in thousands):
December 31, 2025June 30, 2025
Due in one year or less$310,866 $271,923 
Due in one year through five years97,066 152,345 
Total marketable securities$407,932 $424,268 
Schedule of Strategic Investments
Carrying value of privately held debt securities
The Company’s investments of privately held debt securities as of December 31, 2025, consisted of the following (in thousands):
Amortized CostUnrealized GainsUnrealized LossesFair Value
Privately held debt securities$7,430 $— $(3,250)$4,180 
The Company’s investments of privately held debt securities as of June 30, 2025, consisted of the following (in thousands):
Amortized CostUnrealized GainsUnrealized LossesFair Value
Privately held debt securities$7,780 $— $(3,350)$4,430 
The carrying values for privately held equity securities as of December 31, 2025 are summarized below (in thousands):
Privately held equity securities
Initial total cost$142,302 
Cumulative net gains (losses)9,604 
Carrying value$151,906 
The carrying values for privately held equity securities as of June 30, 2025 are summarized below (in thousands):
Privately held equity securities
Initial total cost$166,302 
Cumulative net losses(1,909)
Carrying value$164,393 
Schedule of Unrealized Gain (Loss) on Investments
The components of gains and losses on strategic investments were as follows (in thousands):
Three Months Ended December 31,Six Months Ended December 31,
2025202420252024
Unrealized gains recognized on publicly traded equity securities$— $— $24,729 $— 
Unrealized gains recognized on privately held equity securities7,549 — 9,846 — 
Unrealized losses recognized on privately held equity securities including impairment(749)— $(1,249)$— 
Unrealized losses on privately held debt securities(250)— (250)— 
Unrealized gains, net$6,550 $— $33,076 $— 
Realized losses recognized on sales of publicly traded equity securities(10,070)— (10,070)— 
Realized losses recognized on privately held equity securities— (2,611)— (2,645)
Realized gains recognized on privately held equity securities965 — 965 — 
Gains (losses) on strategic investments, net$(2,555)$(2,611)$23,971 $(2,645)
Unrealized gains recognized during the reporting period on privately held equity securities still held at the reporting date
$6,800 $— $8,597 $— 
Schedule of Equity Method Investments
The following table sets forth the carrying amounts of the equity method investment and the movements during fiscal year 2025 and the six months ended December 31, 2025 (in thousands):
Equity Method Investment
Balance as of June 30, 2024
$74,510 
Share of losses(20,433)
Effect of change in exchange rates(958)
Balance as of June 30, 2025
53,119 
Share of losses
— 
Effect of change in exchange rates774 
Balance as of December 31, 2025
$53,893 
v3.25.4
Derivative Contracts (Tables)
 6 Months Ended
Dec. 31, 2025
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 December 31, 2025 (in thousands):
Notional Amounts of Derivative Instruments
Notional Amount by Term to MaturityClassification by Notional Amount
Under 12 monthsOver 12 monthsTotalCash Flow HedgeNon HedgeTotal
Forward contracts$1,008,770 $65,189$1,073,959$760,817$313,142 $1,073,959
The following table sets forth the notional amounts of the Company’s hedging derivative instruments as of June 30, 2025 (in thousands):
Notional Amounts of Derivative Instruments
Notional Amount by Term to MaturityClassification by Notional Amount
Under 12 monthsOver 12 monthsTotalCash Flow HedgeNon HedgeTotal
Forward contracts$1,064,280 $79,858$1,144,138$765,613$378,525 $1,144,138
Schedule of Fair Values of Derivative Instruments
The fair values of the Company’s derivative instruments were as follows (in thousands):
Balance Sheet LocationDecember 31, 2025June 30, 2025
Derivative assets
Derivatives designated as hedging instruments:
Foreign exchange forward contractsPrepaid expenses and other current assets$18,423 $16,210 
Foreign exchange forward contractsOther non-current assets926 3,715 
Derivatives not designated as hedging instruments:
Foreign exchange forward contractsPrepaid expenses and other current assets2,309 3,309 
Total derivative assets$21,658 $23,234 
Derivative liabilities
Derivatives designated as hedging instruments:
Foreign exchange forward contractsAccrued expenses and other current liabilities$4,493 $2,409 
Foreign exchange forward contractsOther non-current liabilities185 — 
Derivatives not designated as hedging instruments:
Foreign exchange forward contractsAccrued expenses and other current liabilities168 36 
Total derivative liabilities$4,846 $2,445 
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 condensed consolidated financial statements were as follows (in thousands):
Three Months Ended December 31,Six Months Ended December 31,
2025202420252024
Beginning balance of accumulated gains in accumulated other comprehensive income (loss)$13,991 $51,930 $24,679 $41,424 
Gross unrealized gains (losses) recognized in other comprehensive income (loss)3,216 (57,867)(3,493)(39,852)
Net losses (gains) reclassified from cash flow hedge in accumulated other comprehensive income (loss) into profit or loss:
Recognized in cost of revenues181 32 361 (11)
Recognized in research and development(1,731)(2,049)(648)(2,489)
Recognized in marketing and sales(32)(48)15 9 
Recognized in general and administrative571 (400)834 (328)
Recognized in interest expense(1,611)(6,865)(7,163)(14,020)
Ending balance of accumulated gains in accumulated other comprehensive income (loss)$14,585 $(15,267)$14,585 $(15,267)
v3.25.4
Property and Equipment (Tables)
 6 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Schedule of Property and Equipment, Net
Property and equipment, net consisted of the following (in thousands):
December 31, 2025June 30, 2025
Equipment$19,458 $15,008 
Computer hardware and software63,282 58,559 
Furniture and fittings27,521 25,217 
Leasehold improvements and other142,219 154,113 
Property and equipment, gross252,480 252,897 
Less: accumulated depreciation(154,528)(147,779)
Property and equipment, net$97,952 $105,118 
v3.25.4
Business Combinations (Tables)
 6 Months Ended
Dec. 31, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Business Combination, Recognized Asset Acquired and Liability 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$22,160 
Prepaid expenses and other current assets1,235 
Intangible assets, net91,000 
Goodwill376,885 
Accrued expenses and other current liabilities(2,102)
Deferred tax liabilities(832)
Net assets acquired$488,346 
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$27,910 
Accounts Receivable6,529 
Other non-current assets9,929 
Intangible assets, net182,800 
Goodwill557,439 
Accrued expenses and other current liabilities(1,706)
Deferred revenue, current(25,482)
Deferred tax liabilities(26,865)
Other non-current liabilities(10,192)
Net assets acquired$720,362 
Business Combination, Intangible Asset, Acquired, Finite-Lived
The following table sets forth the components of identifiable intangible assets acquired and their estimated useful lives as of the date of acquisition (in thousands, except for useful life):
Fair ValueUseful Life
Developed Technology$80,000 3
Trade Name11,000 3
The following table sets forth the components of identifiable intangible assets acquired and their estimated useful lives as of the date of acquisition (in thousands, except for useful life):
Fair ValueUseful Life
Developed Technology$138,000 5
Trade Name37,000 5
Customer Relationships4,800 5
Backlog3,000 3
v3.25.4
Goodwill and Intangible Assets (Tables)
 6 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill
Goodwill consisted of the following (in thousands):
 Goodwill
Balance as of June 30, 2025$1,304,445 
Additions999,243 
Effect of change in exchange rates1,444 
Balance as of December 31, 2025$2,305,132 
Schedule of Finite-Lived Intangible Assets
Intangible assets consisted of the following as of December 31, 2025 (in thousands):
Gross Carrying AmountAccumulated AmortizationNet
Acquired developed technology$700,262 $(308,005)$392,257 
Patents, trade names, and other rights118,928 (42,066)76,862 
Customer relationships143,487 (117,647)25,840 
Total Intangible Assets$962,677 $(467,718)$494,959 
Intangible assets consisted of the following as of June 30, 2025 (in thousands):
Gross Carrying AmountAccumulated AmortizationNet
Acquired developed technology$466,932 $(278,525)$188,407 
Patents, trade names, and other rights70,928 (37,337)33,591 
Customer relationships135,687 (112,845)22,842 
Total Intangible Assets$673,547 $(428,707)$244,840 
The weighted-average remaining useful lives of the Company’s acquired intangible assets as of December 31, 2025 were as follows:
Weighted-Average Remaining Useful Lives (Years)
Acquired developed technology4
Patents, trade names, and other rights5
Customer relationships3
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 December 31, 2025 (in thousands):
Fiscal Years:
Remainder of 2026$62,518 
2027120,083 
2028117,321 
202987,843 
203073,839 
Thereafter33,355 
Total future amortization expense$494,959 
v3.25.4
Accrued Expenses and Other Current Liabilities (Tables)
 6 Months Ended
Dec. 31, 2025
Other Liabilities Disclosure [Abstract]  
Schedule of Accrued Expenses and Other Current Liabilities
Accrued expenses and other current liabilities consisted of the following (in thousands):
 December 31, 2025June 30, 2025
Accrued expenses$216,138 $180,197 
Employee benefits320,210 422,986 
Tax liabilities9,182 36,726 
Customer deposits19,153 16,396 
Other payables39,167 25,296 
Total accrued expenses and other current liabilities$603,850 $681,601 
v3.25.4
Debt (Tables)
 6 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt Instruments
The components of the Notes were as follows (in thousands, except percentage data):
InstrumentExpected Remaining Term (years)Contractual Interest RateEffective Interest RateDecember 31, 2025June 30, 2025
2029 Notes3.45.250 %5.55 %$500,000 $500,000 
2034 Notes8.45.500 %5.71 %500,000 500,000 
Unamortized debt discount and issuance costs(11,391)(12,316)
Long-term debt$988,609 $987,684 
v3.25.4
Commitment and Contingencies (Tables)
 6 Months Ended
Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Lease, Cost
Supplemental information related to operating leases were as follows (in thousands):
 Three Months Ended December 31,Six Months Ended December 31,
 2025202420252024
Operating lease costs
$9,803 $10,909 $20,428 $21,575 
Right-of-use assets obtained in exchange for new operating lease liabilities$— $13,363 $239 $20,789 
v3.25.4
Revenue (Tables)
 6 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
Schedule of Revenue from External Customers by Geographic Areas
The Company’s revenues by geographic region based on end-users who purchased the Company’s offerings were as follows (in thousands):
 Three Months Ended December 31,Six Months Ended December 31,
 2025202420252024
Americas
United States$648,343 $537,396 $1,261,360 $1,043,623 
Other Americas97,905 81,769 190,674 160,041 
Total Americas746,248 619,165 1,452,034 1,203,664 
EMEA
Germany166,166 131,991 308,144 249,793 
Other EMEA497,174 393,491 921,275 744,958 
Total EMEA663,340 525,482 1,229,419 994,751 
Asia Pacific176,727 141,816 337,415 275,829 
Total revenues$1,586,315 $1,286,463 $3,018,868 $2,474,244 
Schedule of Revenue from External Customers by Products and Services
The Company’s revenues by deployment options were as follows (in thousands):
 Three Months Ended December 31,Six Months Ended December 31,
 2025202420252024
Cloud$1,067,027 $846,962 $2,064,735 $1,639,268 
Data Center435,616 362,281 808,264 697,875 
Marketplace and other83,672 77,220 145,869 137,101 
Total revenues$1,586,315 $1,286,463 $3,018,868 $2,474,244 
Schedule of Contract with Customer, Contract Asset, Contract Liability, and Receivable The changes in the balances of deferred revenue were as follows (in thousands):
Three Months Ended December 31,Six Months Ended December 31,
2025202420252024
Balance, beginning of period$2,281,156 $2,012,820 $2,481,254 $2,114,736 
Additions1,736,668 1,469,888 2,969,123 2,555,753 
Revenue(1,586,315)(1,286,463)(3,018,868)(2,474,244)
Balance, end of period$2,431,509 $2,196,245 $2,431,509 $2,196,245 
Schedule of Capitalized Contract Cost
The changes in the balances of deferred contract acquisition costs were as follows (in thousands):
Three Months Ended December 31,Six Months Ended December 31,
2025202420252024
Balance, beginning of period$140,598 $83,444 $136,340 $79,711 
Additions43,657 23,833 62,754 36,063 
Amortization expense(15,966)(10,026)(30,805)(18,523)
Balance, end of period$168,289 $97,251 $168,289 $97,251 
Deferred contract acquisition costs included in:
Prepaid expenses and other current assets$62,443 $36,578 
Other non-current assets105,846 60,673 
Total$168,289 $97,251 
v3.25.4
Geographic Information (Tables)
 6 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Schedule of Long-Lived Assets by Geographic Areas
The Company’s long-lived assets by geographic regions were as follows (in thousands):
December 31, 2025June 30, 2025
United States$129,828 $168,841 
Australia50,814 54,073 
India30,096 34,909 
All other countries 13,689 16,422 
Total long-lived assets$224,427 $274,245 
v3.25.4
Restructuring (Tables)
 6 Months Ended
Dec. 31, 2025
Restructuring and Related Activities [Abstract]  
Schedule of Restructuring Charges
A summary of the Company’s restructuring charges for the six months ended December 31, 2025, by major activity type was as follows (in thousands):
Severance and Other Termination BenefitsStock-based CompensationLease ConsolidationTotal
Cost of revenue$27,794 $1,432 $2,366 $31,592 
Research and development— — 12,102 12,102 
Marketing and sales— — 8,154 8,154 
General and administrative95 — 3,735 3,830 
Total$27,889 $1,432 $26,357 $55,678 
Schedule of Changes in Liabilities
The following table is a summary of the changes in the liabilities, included within accrued expenses and other current liabilities on the condensed consolidated balance sheets as of December 31, 2025, related to the restructuring charges (in thousands):
Severance and Other Termination BenefitsStock-based CompensationLease ConsolidationTotal
Charges$27,889 $1,432 $26,357 $55,678 
Payments(22,215)— (50)(22,265)
Non-cash items(446)(1,432)(26,307)(28,185)
Liability as of December 31, 2025
$5,228 $— $— $5,228 
v3.25.4
Stockholder's Equity (Tables)
 6 Months Ended
Dec. 31, 2025
Equity [Abstract]  
Schedule of Unvested Restricted Stock Units Roll Forward
A summary of RSU activity for the six months ended December 31, 2025 was as follows (in thousands except share and per share data):
Number of SharesWeighted Average Grant Date Fair ValueAggregate Intrinsic Value
Balance as of June 30, 2025$16,578,020 $190.98 $3,366,830 
Granted13,120,190 166.45 — 
Vested(3,833,577)195.82 604,727 
Forfeited or cancelled(1,598,962)179.38 — 
Balance as of December 31, 2025$24,265,671 $177.56 $3,934,436 
v3.25.4
Net Loss Per Share (Tables)
 6 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Schedule of Basic and Diluted Net Loss Per Share
The following tables present the calculation of basic and diluted net loss per share attributable to common stockholders (in thousands, except per share data):
 Three Months Ended December 31,Six Months Ended December 31,
 2025202420252024
Class AClass BClass AClass BClass AClass BClass AClass B
Numerator:
Net loss$(26,961)$(15,684)$(23,725)$(14,483)$(59,171)$(35,344)$(100,188)$(61,789)
Denominator:
Weighted-average shares outstanding, basic and diluted166,79797,031162,15898,989164,90698,503161,32199,491
Net loss per share, basic and diluted$(0.16)$(0.16)$(0.15)$(0.15)$(0.36)$(0.36)$(0.62)$(0.62)
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share
The potential weighted average dilutive securities that were not included in the dilutive earnings per share calculation because the effect would be anti-dilutive were as follows (shares in thousands):
Three Months Ended December 31,Six Months Ended December 31,
2025202420252024
Class A Common Stock restricted stock units16,7626,80512,6668,598
Class A Common Stock restricted stock awards69483633
Total16,8316,85312,7028,631
v3.25.4
Fair Value Measurements - Schedule of Financial Assets and Liabilities Measured at Fair Value (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Jun. 30, 2025
Assets measured at fair value    
Derivative financial instruments $ 21,658 $ 23,234
Total assets measured at fair value 945,031 2,222,022
Liabilities measured at fair value    
Derivative financial instruments 4,846 2,445
Total liabilities measured at fair value 4,846 2,445
U.S. treasury securities    
Assets measured at fair value    
Marketable securities: 197,753 176,661
Agency securities    
Assets measured at fair value    
Marketable securities: 3,210 3,216
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: 12,433 19,697
Corporate debt securities    
Assets measured at fair value    
Marketable securities: 184,536 214,694
Money market funds    
Assets measured at fair value    
Cash and cash equivalents: 515,441 1,774,138
Corporate debt securities    
Assets measured at fair value    
Cash and cash equivalents:   382
Level 1    
Assets measured at fair value    
Derivative financial instruments 0 0
Total assets measured at fair value 515,441 1,774,138
Liabilities measured at fair value    
Derivative financial instruments 0 0
Total liabilities measured at fair value 0 0
Level 1 | U.S. treasury securities    
Assets measured at fair value    
Marketable securities: 0 0
Level 1 | Agency securities    
Assets measured at fair value    
Marketable securities: 0 0
Level 1 | Certificates of deposit and time deposits    
Assets measured at fair value    
Marketable securities: 0 0
Level 1 | Commercial paper    
Assets measured at fair value    
Marketable securities: 0 0
Level 1 | Corporate debt securities    
Assets measured at fair value    
Marketable securities: 0 0
Level 1 | Money market funds    
Assets measured at fair value    
Cash and cash equivalents: 515,441 1,774,138
Level 1 | Corporate debt securities    
Assets measured at fair value    
Cash and cash equivalents:   0
Level 2    
Assets measured at fair value    
Derivative financial instruments 21,658 23,234
Total assets measured at fair value 429,590 447,884
Liabilities measured at fair value    
Derivative financial instruments 4,846 2,445
Total liabilities measured at fair value 4,846 2,445
Level 2 | U.S. treasury securities    
Assets measured at fair value    
Marketable securities: 197,753 176,661
Level 2 | Agency securities    
Assets measured at fair value    
Marketable securities: 3,210 3,216
Level 2 | Certificates of deposit and time deposits    
Assets measured at fair value    
Marketable securities: 10,000 10,000
Level 2 | Commercial paper    
Assets measured at fair value    
Marketable securities: 12,433 19,697
Level 2 | Corporate debt securities    
Assets measured at fair value    
Marketable securities: 184,536 214,694
Level 2 | Money market funds    
Assets measured at fair value    
Cash and cash equivalents: $ 0 0
Level 2 | Corporate debt securities    
Assets measured at fair value    
Cash and cash equivalents:   $ 382
v3.25.4
Fair Value Measurements - Additional Information (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Jun. 30, 2025
Fair Value Disclosures [Abstract]    
Privately held debt and equity securities and other investments $ 156.1 $ 168.8
v3.25.4
Investments - Schedule of Marketable Securities (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Jun. 30, 2025
U.S. treasury securities    
Debt and Equity Securities, FV-NI [Line Items]    
Amortized Cost $ 197,135 $ 176,338
Unrealized Gains 618 388
Unrealized Losses 0 (65)
Fair Value 197,753 176,661
Agency securities    
Debt and Equity Securities, FV-NI [Line Items]    
Amortized Cost 3,199 3,197
Unrealized Gains 11 19
Unrealized Losses 0 0
Fair Value 3,210 3,216
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 12,433 19,697
Unrealized Gains 0 0
Unrealized Losses 0 0
Fair Value 12,433 19,697
Corporate debt securities    
Debt and Equity Securities, FV-NI [Line Items]    
Amortized Cost 183,962 214,190
Unrealized Gains 574 527
Unrealized Losses 0 (23)
Fair Value 184,536 214,694
Total marketable securities    
Debt and Equity Securities, FV-NI [Line Items]    
Amortized Cost 406,729 423,422
Unrealized Gains 1,203 934
Unrealized Losses 0 (88)
Fair Value $ 407,932 $ 424,268
v3.25.4
Investments - Schedule of Marketable Debt Securities by Remaining Contractual Maturity (Details) - Total marketable securities - USD ($)
$ in Thousands
Dec. 31, 2025
Jun. 30, 2025
Debt and Equity Securities, FV-NI [Line Items]    
Due in one year or less $ 310,866 $ 271,923
Due in one year through five years 97,066 152,345
Total marketable securities $ 407,932 $ 424,268
v3.25.4
Investments - Schedule of Carrying Value of Privately Held Debt Securities (Details) - Privately held debt securities - USD ($)
$ in Thousands
Dec. 31, 2025
Jun. 30, 2025
Marketable Securities [Line Items]    
Amortized Cost $ 7,430 $ 7,780
Unrealized Gains 0 0
Unrealized Losses (3,250) (3,350)
Fair Value $ 4,180 $ 4,430
v3.25.4
Investments - Schedule of Carrying Values for Publicly Traded and Privately Held Equity Securities (Details) - Privately held equity securities - USD ($)
$ in Thousands
Dec. 31, 2025
Jun. 30, 2025
Debt and Equity Securities, FV-NI [Line Items]    
Initial total cost $ 142,302 $ 166,302
Cumulative net gains (losses) 9,604 (1,909)
Carrying value $ 151,906 $ 164,393
v3.25.4
Investments - Additional Information (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Jun. 30, 2025
Jun. 30, 2023
Debt and Equity Securities, FV-NI [Line Items]      
Downward price adjustment $ 5.4 $ 8.5  
Upward price adjustment $ 15.0 $ 6.6  
Vertical First Trust      
Debt and Equity Securities, FV-NI [Line Items]      
Retained minority equity interest (as a percentage)     13.00%
v3.25.4
Investments - Schedule of Gains and Losses on Strategic Investments (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract]        
Unrealized gains recognized on publicly traded equity securities $ 0 $ 0 $ 24,729 $ 0
Unrealized gains recognized on privately held equity securities 7,549 0 9,846 0
Unrealized losses recognized on privately held equity securities including impairment (749) 0 (1,249) 0
Unrealized losses on privately held debt securities (250) 0 (250) 0
Unrealized gains, net 6,550 0 33,076 0
Realized losses recognized on sales of publicly traded equity securities (10,070) 0 (10,070) 0
Realized losses recognized on privately held equity securities 0 (2,611) 0 (2,645)
Realized gains recognized on privately held equity securities 965 0 965 0
Gains (losses) on strategic investments, net (2,555) (2,611) 23,971 (2,645)
Unrealized gains recognized during the reporting period on privately held equity securities still held at the reporting date $ 6,800 $ 0 $ 8,597 $ 0
v3.25.4
Investments - Schedule of Carrying Amounts of Equity Method Investments (Details) - USD ($)
$ in Thousands
 6 Months Ended 12 Months Ended
Dec. 31, 2025
Jun. 30, 2025
Equity Method Investments, Effect Of Foreign Currency Translation [Roll Forward]    
Beginning $ 53,119 $ 74,510
Share of losses 0 (20,433)
Effect of change in exchange rates 774 (958)
Ending $ 53,893 $ 53,119
v3.25.4
Derivative Contracts - Schedule of Notional Amounts of Hedging Derivative Instruments (Details) - Foreign exchange forward contracts - USD ($)
$ in Thousands
Dec. 31, 2025
Jun. 30, 2025
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Notional amount $ 1,073,959 $ 1,144,138
Cash Flow Hedge    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Notional amount 760,817 765,613
Non Hedge    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Notional amount 313,142 378,525
Under 12 months    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Notional amount 1,008,770 1,064,280
Over 12 months    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Notional amount $ 65,189 $ 79,858
v3.25.4
Derivative Contracts - Schedule of Fair Values of Company's Derivative Instruments (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Jun. 30, 2025
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Derivative assets $ 21,658 $ 23,234
Derivative liabilities 4,846 2,445
Prepaid expenses and other current assets | Foreign exchange forward contracts | Cash Flow Hedge    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Derivative assets 18,423 16,210
Prepaid expenses and other current assets | Foreign exchange forward contracts | Non Hedge    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Derivative assets 2,309 3,309
Other non-current assets | Foreign exchange forward contracts | Cash Flow Hedge    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Derivative assets 926 3,715
Accrued expenses and other current liabilities | Foreign exchange forward contracts | Cash Flow Hedge    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Derivative liabilities 4,493 2,409
Accrued expenses and other current liabilities | Foreign exchange forward contracts | Non Hedge    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Derivative liabilities 168 36
Other non-current liabilities | Foreign exchange forward contracts | Cash Flow Hedge    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Derivative liabilities $ 185 $ 0
v3.25.4
Derivative Contracts - Schedule of Pre-Tax Effects of Derivatives Designated as Cash Flow Hedging Instruments (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Derivative Instruments, Pre-Tax Effects Of Derivatives Designated As Cash Flow Hedging Instruments [Roll Forward]        
Beginning balance of accumulated gains in accumulated other comprehensive income (loss) $ 13,991 $ 51,930 $ 24,679 $ 41,424
Gross unrealized gains (losses) recognized in other comprehensive income (loss) 3,216 (57,867) (3,493) (39,852)
Ending balance of accumulated gains in accumulated other comprehensive income (loss) 14,585 (15,267) 14,585 (15,267)
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 (loss) into profit or loss: 181 32 361 (11)
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 (loss) into profit or loss: (1,731) (2,049) (648) (2,489)
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 (loss) into profit or loss: (32) (48) 15 9
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 (loss) into profit or loss: 571 (400) 834 (328)
Recognized in interest expense        
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 (loss) into profit or loss: $ (1,611) $ (6,865) $ (7,163) $ (14,020)
v3.25.4
Property and Equipment - Schedule of Property and Equipment, Net (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Jun. 30, 2025
Property, Plant and Equipment [Line Items]    
Property and equipment, gross $ 252,480 $ 252,897
Less: accumulated depreciation (154,528) (147,779)
Property and equipment, net 97,952 105,118
Equipment    
Property, Plant and Equipment [Line Items]    
Property and equipment, gross 19,458 15,008
Computer hardware and software    
Property, Plant and Equipment [Line Items]    
Property and equipment, gross 63,282 58,559
Furniture and fittings    
Property, Plant and Equipment [Line Items]    
Property and equipment, gross 27,521 25,217
Leasehold improvements and other    
Property, Plant and Equipment [Line Items]    
Property and equipment, gross $ 142,219 $ 154,113
v3.25.4
Property and Equipment - Additional Information (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Property, Plant and Equipment [Line Items]        
Depreciation expense $ 10.3 $ 9.3 $ 21.0 $ 18.2
Leasehold Improvements        
Property, Plant and Equipment [Line Items]        
Tangible asset impairment charges $ 1.1   $ 1.1  
v3.25.4
Business Combinations - Additional Information (Details) - USD ($)
Nov. 10, 2025
Oct. 20, 2025
Dec. 31, 2025
Jun. 30, 2025
Business Combination [Line Items]        
Goodwill expected tax deductible amount   $ 0    
Goodwill     $ 2,305,132,000 $ 1,304,445,000
Restricted Stock Units (RSUs)        
Business Combination [Line Items]        
Cost not yet recognized     $ 3,300,000,000  
The Browser Company        
Business Combination [Line Items]        
Outstanding equity acquired   100.00%    
Purchase price consideration   $ 488,300,000    
Cash settlement   481,500,000    
Non-cash settlement   6,800,000    
Goodwill   376,885,000    
The Browser Company | Restricted Stock Units (RSUs)        
Business Combination [Line Items]        
Shares granted   8,200,000    
Cost not yet recognized   $ 97,000,000    
Software Company (“DX”)        
Business Combination [Line Items]        
Outstanding equity acquired 100.00%      
Purchase price consideration $ 720,400,000      
Goodwill 557,439,000      
Software Company (“DX”) | Restricted Stock Units (RSUs)        
Business Combination [Line Items]        
Shares granted 201,800,000      
Cost not yet recognized $ 38,900,000      
v3.25.4
Business Combinations - Business Combination, Recognized Asset Acquired and Liability Assumed (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Nov. 10, 2025
Oct. 20, 2025
Jun. 30, 2025
Business Combination [Line Items]        
Goodwill $ 2,305,132     $ 1,304,445
The Browser Company        
Business Combination [Line Items]        
Cash and cash equivalents     $ 22,160  
Prepaid expenses and other current assets     1,235  
Intangible assets, net     91,000  
Goodwill     376,885  
Accrued expenses and other current liabilities     (2,102)  
Deferred tax liabilities     (832)  
Net assets acquired     $ 488,346  
Software Company (“DX”)        
Business Combination [Line Items]        
Cash and cash equivalents   $ 27,910    
Intangible assets, net   182,800    
Goodwill   557,439    
Accrued expenses and other current liabilities   (1,706)    
Deferred tax liabilities   (26,865)    
Accounts Receivable   6,529    
Other non-current assets   9,929    
Deferred revenue, current   (25,482)    
Other non-current liabilities   (10,192)    
Net assets acquired   $ 720,362    
v3.25.4
Business Combinations - Business Combination, Intangible Asset, Acquired, Finite-Lived (Details) - USD ($)
$ in Thousands
Nov. 10, 2025
Oct. 20, 2025
The Browser Company    
Business Combination [Line Items]    
Fair Value   $ 91,000
Software Company (“DX”)    
Business Combination [Line Items]    
Fair Value $ 182,800  
Acquired developed technology | The Browser Company    
Business Combination [Line Items]    
Fair Value   $ 80,000
Useful Life   3 years
Acquired developed technology | Software Company (“DX”)    
Business Combination [Line Items]    
Fair Value $ 138,000  
Useful Life 5 years  
Trade Name | The Browser Company    
Business Combination [Line Items]    
Fair Value   $ 11,000
Useful Life   3 years
Trade Name | Software Company (“DX”)    
Business Combination [Line Items]    
Fair Value $ 37,000  
Useful Life 5 years  
Customer relationships | Software Company (“DX”)    
Business Combination [Line Items]    
Fair Value $ 4,800  
Useful Life 5 years  
Backlog | Software Company (“DX”)    
Business Combination [Line Items]    
Fair Value $ 3,000  
Useful Life 3 years  
v3.25.4
Goodwill and Intangible Assets - Schedule of Goodwill (Details)
$ in Thousands
 6 Months Ended
Dec. 31, 2025
USD ($)
Goodwill [Roll Forward]  
Goodwill, beginning balance $ 1,304,445
Additions 999,243
Effect of change in exchange rates 1,444
Goodwill, ending balance $ 2,305,132
v3.25.4
Goodwill and Intangible Assets - Schedule of Finite-Lived Intangible Assets (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Jun. 30, 2025
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount $ 962,677 $ 673,547
Accumulated Amortization (467,718) (428,707)
Total future amortization expense 494,959 244,840
Acquired developed technology    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount 700,262 466,932
Accumulated Amortization (308,005) (278,525)
Total future amortization expense 392,257 188,407
Patents, trade names, and other rights    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount 118,928 70,928
Accumulated Amortization (42,066) (37,337)
Total future amortization expense 76,862 33,591
Customer relationships    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount 143,487 135,687
Accumulated Amortization (117,647) (112,845)
Total future amortization expense $ 25,840 $ 22,842
v3.25.4
Goodwill and Intangible Assets - Schedule of Weighted-Average Remaining Useful Lives (Details)
Dec. 31, 2025
Acquired developed technology  
Finite-Lived Intangible Assets [Line Items]  
Weighted-Average Remaining Useful Lives (Years) 4 years
Patents, trade names, and other rights  
Finite-Lived Intangible Assets [Line Items]  
Weighted-Average Remaining Useful Lives (Years) 5 years
Customer relationships  
Finite-Lived Intangible Assets [Line Items]  
Weighted-Average Remaining Useful Lives (Years) 3 years
v3.25.4
Goodwill and Intangible Assets - Additional Information (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]        
Amortization expense for intangible assets $ 25.4 $ 13.9 $ 39.0 $ 27.8
v3.25.4
Goodwill and Intangible Assets - Schedule of Finite-Lived Intangible Assets, Future Amortization Expense (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Jun. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]    
Remainder of 2026 $ 62,518  
2027 120,083  
2028 117,321  
2029 87,843  
2030 73,839  
Thereafter 33,355  
Total future amortization expense $ 494,959 $ 244,840
v3.25.4
Accrued Expenses and Other Current Liabilities (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Jun. 30, 2025
Other Liabilities Disclosure [Abstract]    
Accrued expenses $ 216,138 $ 180,197
Employee benefits 320,210 422,986
Tax liabilities 9,182 36,726
Customer deposits 19,153 16,396
Other payables 39,167 25,296
Total accrued expenses and other current liabilities $ 603,850 $ 681,601
v3.25.4
Debt - Credit Facility (Details) - Line of Credit
$ in Millions
 1 Months Ended
Aug. 31, 2024
USD ($)
Oct. 31, 2020
USD ($)
The 2024 Credit Agreement    
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 | Minimum    
Line of Credit Facility [Line Items]    
Variable rate 0.875%  
Commitment fee, as a percentage 0.075%  
The 2024 Credit Agreement | Maximum    
Line of Credit Facility [Line Items]    
Variable rate 1.50%  
Commitment fee, as a percentage 0.20%  
The 2024 Credit Agreement | Unsecured Debt    
Line of Credit Facility [Line Items]    
Borrowing capacity $ 750  
The 2024 Credit Agreement | Revolving Credit Facility    
Line of Credit Facility [Line Items]    
Amount of increase available $ 250  
The Credit Facility | Unsecured Debt    
Line of Credit Facility [Line Items]    
Borrowing capacity   $ 1,000
The Credit Facility | Revolving Credit Facility    
Line of Credit Facility [Line Items]    
Borrowing capacity   $ 500
v3.25.4
Debt - Senior Notes (Details) - USD ($)
$ in Thousands
May 15, 2024
Dec. 31, 2025
Jun. 30, 2025
Debt Instrument [Line Items]      
Unamortized discount (premium) and debt issuance costs, net   $ 11,391 $ 12,316
Proceeds from issuance of debt, net of issuance costs $ 985,700    
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   $ 1,040,000 $ 1,030,000
5.250% 2029 Notes | Senior Notes      
Debt Instrument [Line Items]      
Aggregate principal amount $ 500,000    
Contractual Interest Rate 5.25% 5.25%  
5.500% 2034 Notes | Senior Notes      
Debt Instrument [Line Items]      
Aggregate principal amount $ 500,000    
Contractual Interest Rate   5.50%  
Senior Note 2029 | Senior Notes      
Debt Instrument [Line Items]      
Contractual Interest Rate 5.25%    
Senior Note 2034 | Senior Notes      
Debt Instrument [Line Items]      
Contractual Interest Rate 5.50%    
v3.25.4
Debt - Schedule of the Notes Carrying Value (Details) - USD ($)
$ in Thousands
 6 Months Ended
Dec. 31, 2025
Jun. 30, 2025
May 15, 2024
Debt Instrument [Line Items]      
Unamortized debt discount and issuance costs $ (11,391) $ (12,316)  
Long-term debt $ 988,609 987,684  
Senior Notes      
Debt Instrument [Line Items]      
Unamortized debt discount and issuance costs     $ (14,300)
5.250% 2029 Notes | Senior Notes      
Debt Instrument [Line Items]      
Expected Remaining Term (years) 3 years 4 months 24 days    
Contractual Interest Rate 5.25%   5.25%
Effective Interest Rate 5.55%    
Aggregate principal amount $ 500,000 500,000  
5.500% 2034 Notes | Senior Notes      
Debt Instrument [Line Items]      
Expected Remaining Term (years) 8 years 4 months 24 days    
Contractual Interest Rate 5.50%    
Effective Interest Rate 5.71%    
Aggregate principal amount $ 500,000 $ 500,000  
v3.25.4
Commitments and Contingencies - Additional Information (Details)
$ in Millions
 6 Months Ended
Dec. 31, 2025
USD ($)
Long-Term Purchase Commitment [Line Items]  
Impairment charge for operating lease right-of-use assets $ 25.2
Minimum | Cloud Services Platform, Marketing Related Contracts, and Other Services  
Long-Term Purchase Commitment [Line Items]  
Purchase commitment period 2 years
Maximum | Cloud Services Platform, Marketing Related Contracts, and Other Services  
Long-Term Purchase Commitment [Line Items]  
Purchase commitment period 7 years
v3.25.4
Commitment and Contingencies - Schedule of Lease, Cost (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]        
Operating lease costs $ 9,803 $ 10,909 $ 20,428 $ 21,575
Right-of-use assets obtained in exchange for new operating lease liabilities $ 0 $ 13,363 $ 239 $ 20,789
v3.25.4
Revenue - Remaining Performance Obligations (Details)
$ in Billions
Dec. 31, 2025
USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 3.8
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation, percentage 71.00%
Revenue remaining performance obligation, expected timing of satisfaction period 12 months
v3.25.4
Revenue - Schedule of Disaggregation of Revenue by Geographic Region and Deployment Options (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Disaggregation of Revenue [Line Items]        
Total revenues $ 1,586,315 $ 1,286,463 $ 3,018,868 $ 2,474,244
Cloud        
Disaggregation of Revenue [Line Items]        
Total revenues 1,067,027 846,962 2,064,735 1,639,268
Data Center        
Disaggregation of Revenue [Line Items]        
Total revenues 435,616 362,281 808,264 697,875
Marketplace and other        
Disaggregation of Revenue [Line Items]        
Total revenues 83,672 77,220 145,869 137,101
Total Americas        
Disaggregation of Revenue [Line Items]        
Total revenues 746,248 619,165 1,452,034 1,203,664
United States        
Disaggregation of Revenue [Line Items]        
Total revenues 648,343 537,396 1,261,360 1,043,623
Other Americas        
Disaggregation of Revenue [Line Items]        
Total revenues 97,905 81,769 190,674 160,041
EMEA        
Disaggregation of Revenue [Line Items]        
Total revenues 663,340 525,482 1,229,419 994,751
Germany        
Disaggregation of Revenue [Line Items]        
Total revenues 166,166 131,991 308,144 249,793
Other EMEA        
Disaggregation of Revenue [Line Items]        
Total revenues 497,174 393,491 921,275 744,958
Asia Pacific        
Disaggregation of Revenue [Line Items]        
Total revenues $ 176,727 $ 141,816 $ 337,415 $ 275,829
v3.25.4
Revenue - Schedule of Change in Contract Balances (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Contract With Customer, Liability, Revenue Recognized, Change In Contract Balances [Roll Forward]        
Balance, beginning of period $ 2,281,156 $ 2,012,820 $ 2,481,254 $ 2,114,736
Additions 1,736,668 1,469,888 2,969,123 2,555,753
Revenue (1,586,315) (1,286,463) (3,018,868) (2,474,244)
Balance, end of period $ 2,431,509 $ 2,196,245 $ 2,431,509 $ 2,196,245
v3.25.4
Revenue - Additional Information (Details)
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Revenue from Contract with Customer [Abstract]        
Deferred revenue recognized, as a percentage 40.00% 41.00% 50.00% 51.00%
v3.25.4
Revenue - Schedule of Changes in Balance of Deferred Commission (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Capitalized Contract Cost [Roll Forward]        
Balance, beginning of period $ 140,598 $ 83,444 $ 136,340 $ 79,711
Additions 43,657 23,833 62,754 36,063
Amortization expense (15,966) (10,026) (30,805) (18,523)
Balance, end of period 168,289 97,251 168,289 97,251
Deferred contract acquisition costs included in:        
Prepaid expenses and other current assets 62,443 36,578 62,443 36,578
Other non-current assets 105,846 60,673 105,846 60,673
Capitalized contract cost $ 168,289 $ 97,251 $ 168,289 $ 97,251
v3.25.4
Geographic Information (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Jun. 30, 2025
Segment Reporting Information [Line Items]    
Total long-lived assets $ 224,427 $ 274,245
United States    
Segment Reporting Information [Line Items]    
Total long-lived assets 129,828 168,841
Australia    
Segment Reporting Information [Line Items]    
Total long-lived assets 50,814 54,073
India    
Segment Reporting Information [Line Items]    
Total long-lived assets 30,096 34,909
All other countries    
Segment Reporting Information [Line Items]    
Total long-lived assets $ 13,689 $ 16,422
v3.25.4
Restructuring - Additional Information (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Restructuring Cost and Reserve [Line Items]        
Restructuring charges     $ 55,678  
Impairment charge $ 0 $ 0 26,673 $ 0
Severance and Other Termination Benefits        
Restructuring Cost and Reserve [Line Items]        
Restructuring charges     27,889  
Stock-based Compensation        
Restructuring Cost and Reserve [Line Items]        
Restructuring charges     1,432  
Facility Closing        
Restructuring Cost and Reserve [Line Items]        
Restructuring charges     26,357  
Impairment charge     $ 26,300  
v3.25.4
Restructuring - Schedule of Restructuring Charges (Details)
$ in Thousands
 6 Months Ended
Dec. 31, 2025
USD ($)
Restructuring Cost and Reserve [Line Items]  
Restructuring charges $ 55,678
Severance and Other Termination Benefits  
Restructuring Cost and Reserve [Line Items]  
Restructuring charges 27,889
Stock-based Compensation  
Restructuring Cost and Reserve [Line Items]  
Restructuring charges 1,432
Lease Consolidation  
Restructuring Cost and Reserve [Line Items]  
Restructuring charges 26,357
Cost of revenue  
Restructuring Cost and Reserve [Line Items]  
Restructuring charges 31,592
Cost of revenue | Severance and Other Termination Benefits  
Restructuring Cost and Reserve [Line Items]  
Restructuring charges 27,794
Cost of revenue | Stock-based Compensation  
Restructuring Cost and Reserve [Line Items]  
Restructuring charges 1,432
Cost of revenue | Lease Consolidation  
Restructuring Cost and Reserve [Line Items]  
Restructuring charges 2,366
Research and development  
Restructuring Cost and Reserve [Line Items]  
Restructuring charges 12,102
Research and development | Severance and Other Termination Benefits  
Restructuring Cost and Reserve [Line Items]  
Restructuring charges 0
Research and development | Stock-based Compensation  
Restructuring Cost and Reserve [Line Items]  
Restructuring charges 0
Research and development | Lease Consolidation  
Restructuring Cost and Reserve [Line Items]  
Restructuring charges 12,102
Marketing and sales  
Restructuring Cost and Reserve [Line Items]  
Restructuring charges 8,154
Marketing and sales | Severance and Other Termination Benefits  
Restructuring Cost and Reserve [Line Items]  
Restructuring charges 0
Marketing and sales | Stock-based Compensation  
Restructuring Cost and Reserve [Line Items]  
Restructuring charges 0
Marketing and sales | Lease Consolidation  
Restructuring Cost and Reserve [Line Items]  
Restructuring charges 8,154
General and administrative  
Restructuring Cost and Reserve [Line Items]  
Restructuring charges 3,830
General and administrative | Severance and Other Termination Benefits  
Restructuring Cost and Reserve [Line Items]  
Restructuring charges 95
General and administrative | Stock-based Compensation  
Restructuring Cost and Reserve [Line Items]  
Restructuring charges 0
General and administrative | Lease Consolidation  
Restructuring Cost and Reserve [Line Items]  
Restructuring charges $ 3,735
v3.25.4
Restructuring - Schedule of Changes in Liabilities (Details)
$ in Thousands
 6 Months Ended
Dec. 31, 2025
USD ($)
Restructuring Cost and Reserve [Line Items]  
Charges $ 55,678
Payments (22,265)
Non-cash items (28,185)
Liability 5,228
Severance and Other Termination Benefits  
Restructuring Cost and Reserve [Line Items]  
Charges 27,889
Payments (22,215)
Non-cash items (446)
Liability 5,228
Stock-based Compensation  
Restructuring Cost and Reserve [Line Items]  
Charges 1,432
Payments 0
Non-cash items (1,432)
Liability 0
Lease Consolidation  
Restructuring Cost and Reserve [Line Items]  
Charges 26,357
Payments (50)
Non-cash items (26,307)
Liability $ 0
v3.25.4
Stockholder's Equity - Schedule of RSU Activity (Details) - Restricted Stock Units (RSUs) - USD ($)
$ / shares in Units, $ in Thousands
 6 Months Ended
Dec. 31, 2025
Jun. 30, 2025
Number of Shares    
Beginning balance (in shares) 16,578,020  
Granted (in shares) 13,120,190  
Vested (in shares) (3,833,577)  
Forfeited or cancelled (in shares) (1,598,962)  
Ending balance (in shares) 24,265,671  
Weighted Average Grant Date Fair Value    
Beginning balance (in dollars per share) $ 190.98  
Granted, weighted average grant date fair value (in dollars per share) 166.45  
Vested, weighted average grant date fair value (in dollars per share) 195.82  
Forfeited or cancelled, weighted average grant date fair value (in dollars per share) 179.38  
Ending balance (in dollars per share) $ 177.56  
Aggregate Intrinsic Value    
Aggregate intrinsic value, outstanding $ 3,934,436 $ 3,366,830
Aggregate intrinsic value, vested $ 604,727  
v3.25.4
Stockholder's Equity - Additional Information (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Oct. 31, 2025
Jun. 30, 2025
Sep. 30, 2024
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]              
Repurchases of Class A Common Stock (in shares) 1,300,000   2,700,000        
Repurchases $ 200,415 $ 68,364 $ 450,350 $ 252,282      
Shares repurchased, average price per share (in dollars per share) $ 156.74   $ 169.21        
Share Repurchase Program 2024              
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]              
Share repurchase program, authorized amount             $ 1,500,000
Remaining authorized repurchase amount $ 720,900   $ 720,900        
Share Repurchase Program 2025              
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]              
Share repurchase program, authorized amount         $ 2,500,000    
Remaining authorized repurchase amount 2,500,000   2,500,000        
Restricted Stock Units (RSUs)              
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]              
Cost not yet recognized $ 3,300,000   $ 3,300,000        
Granted (in shares)     13,120,190        
Shares outstanding (in shares) 24,265,671   24,265,671     16,578,020  
Aggregate intrinsic value, outstanding $ 3,934,436   $ 3,934,436     $ 3,366,830  
Class A Common Stock restricted stock awards              
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]              
Granted (in shares)     1,353,312 0      
Shares outstanding (in shares) 1,405,418   1,405,418     90,083  
Aggregate intrinsic value, outstanding $ 227,900   $ 227,900     $ 18,300  
v3.25.4
Net Loss Per Share - Schedule of Basic and Diluted Net Loss (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Numerator:        
Net loss $ (42,645) $ (38,208) $ (94,515) $ (161,977)
Denominator:        
Weighted-average shares outstanding, basic (in shares) 263,828,000 261,147,000 263,409,000 260,812,000
Weighted-average shares outstanding, diluted (in shares) 263,828,000 261,147,000 263,409,000 260,812,000
Net loss per share, basic (in dollars per share) $ (0.16) $ (0.15) $ (0.36) $ (0.62)
Net loss per share, diluted (in dollars per share) $ (0.16) $ (0.15) $ (0.36) $ (0.62)
Class A        
Numerator:        
Net loss $ (26,961) $ (23,725) $ (59,171) $ (100,188)
Denominator:        
Weighted-average shares outstanding, basic (in shares) 166,797,000 162,158,000 164,906,000 161,321,000
Weighted-average shares outstanding, diluted (in shares) 166,797,000 162,158,000 164,906,000 161,321,000
Net loss per share, basic (in dollars per share) $ (0.16) $ (0.15) $ (0.36) $ (0.62)
Net loss per share, diluted (in dollars per share) $ (0.16) $ (0.15) $ (0.36) $ (0.62)
Class B        
Numerator:        
Net loss $ (15,684) $ (14,483) $ (35,344) $ (61,789)
Denominator:        
Weighted-average shares outstanding, basic (in shares) 97,031,000 98,989,000 98,503,000 99,491,000
Weighted-average shares outstanding, diluted (in shares) 97,031,000 98,989,000 98,503,000 99,491,000
Net loss per share, basic (in dollars per share) $ (0.16) $ (0.15) $ (0.36) $ (0.62)
Net loss per share, diluted (in dollars per share) $ (0.16) $ (0.15) $ (0.36) $ (0.62)
v3.25.4
Net Loss Per Share - Schedule of Antidilutive Securities (Details) - shares
shares in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Potentially dilutive securities (in shares) 16,831 6,853 12,702 8,631
Class A Common Stock restricted stock units        
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Potentially dilutive securities (in shares) 16,762 6,805 12,666 8,598
Class A Common Stock restricted stock awards        
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Potentially dilutive securities (in shares) 69 48 36 33
v3.25.4
Income Taxes (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Income Tax Disclosure [Abstract]        
Provision for (benefit from) income taxes $ (13,112) $ (8,975) $ (17,566) $ 84,630