General and administrative

$ 3,534,647

$ 2,802,882

$ 2,089,132

Cost of revenues

^[1],[2]

633,765

452,914

331,850

Gross profit

2,900,882

2,349,968

1,757,282

Operating expenses:

Research and development

^[1],[2]

1,869,881

1,291,877

932,994

Marketing and sales

^[1],[2]

769,861

535,815

371,644

^[1]

606,362

452,193

311,238

Total operating expenses

3,246,104

2,279,885

1,615,876

Operating income (loss)

(345,222)

70,083

141,406

Other income (expense), net

14,501

(501,839)

(570,393)

Interest income

49,732

2,284

7,158

Interest expense

(30,147)

(41,466)

(92,586)

Loss before provision for income taxes

(311,136)

(470,938)

(514,415)

Provision for income taxes

(175,625)

(48,572)

(64,564)

Net loss

$ (486,761)

$ (519,510)

$ (578,979)

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

Basic (in dollars per share)

$ (1.90)

$ (2.05)

$ (2.32)

Diluted (in dollars per share)

$ (1.90)

$ (2.05)

$ (2.32)

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

Basic (in shares)

256,307,000

253,312,000

249,679,000

Diluted (in shares)

256,307,000

253,312,000

249,679,000

Subscription

Revenues:

$ 2,922,576

$ 2,096,706

$ 1,324,064

Maintenance

Revenues:

399,738

495,077

522,971

Other

Revenues:

Summary of Significant Accounting Policies

$ 212,333

$ 211,099

$ 242,097

[1]

(1) Amounts include share-based payment expense, as follows:


Cost of revenues	$	63,913	$	31,358	$	19,879
Research and development	604,301		328,978		220,294
Marketing and sales	131,739		76,209		44,754
General and administrative	148,134		88,258		55,890

[2]

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


Cost of revenues	$	22,853	$	22,694	$	22,394
Research and development	374		374		168
Marketing and sales	9,900		9,330		9,192

CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Amortization expense for intangible assets	$ 33,100	$ 32,400	$ 31,800
Cost of revenues
Stock based compensation expense	63,913	31,358	19,879
Amortization expense for intangible assets	22,853	22,694	22,394
Research and development
Stock based compensation expense	604,301	328,978	220,294
Amortization expense for intangible assets	374	374	168
Marketing and sales
Stock based compensation expense	131,739	76,209	44,754
Amortization expense for intangible assets	9,900	9,330	9,192
General and administrative
Stock based compensation expense	$ 148,134	$ 88,258	$ 55,890

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Net loss	$ (486,761)	$ (519,510)	$ (578,979)
Other comprehensive income (loss), net of reclassification adjustments:
Foreign currency translation adjustment	(5,283)	(15,604)	4,840
Net change in unrealized gains (losses) on marketable and privately held debt securities	1,753	(3,458)	(6,844)
Net gain (loss) on cash flow hedging derivative instruments	23,668	27,438	(16,008)
Other comprehensive income (loss), before tax	20,138	8,376	(18,012)
Income tax effect	0	134	921
Other comprehensive income (loss), net of tax	20,138	8,510	(17,091)
Total comprehensive loss, net of tax	$ (466,623)	$ (511,000)	$ (596,070)

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($) $ in Thousands	Total	Class A	Class B	Common Stock Class A	Common Stock Class B	Additional paid in capital	Accumulated other comprehensive income	Accumulated Deficit
Shares, beginning balance (in shares) at Jun. 30, 2020				127,686,000	119,762,000
Beginning balance at Jun. 30, 2020	$ 566,643			$ 1	$ 1	$ 1,314,737	$ 22,445	$ (770,541)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued under employee stock plans (in shares)				4,200,000
Common stock issued	1,163					1,163
Conversion from Class B shares to Class A Common Stock (in shares)				5,152,000	(5,152,000)
Stock-based compensation	341,003					341,003
Common stock issued related to business combination	523					523
Other comprehensive loss, net of tax	(17,091)						(17,091)
Net loss	(578,979)	$ (308,953)	$ (270,026)					(578,979)
Shares, ending balance (in shares) at Jun. 30, 2021				137,038,000	114,610,000
Ending balance at Jun. 30, 2021	313,262			$ 1	$ 1	1,657,426	5,354	(1,349,520)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued under employee stock plans (in shares)				3,208,000
Common stock issued	32					32
Conversion from Class B shares to Class A Common Stock (in shares)				4,574,000	(4,574,000)
Stock-based compensation	525,078					525,078
Other comprehensive loss, net of tax	8,510						8,510
Net loss	(519,510)	$ (290,290)	$ (229,220)					(519,510)
Shares, ending balance (in shares) at Jun. 30, 2022		144,891,749	110,035,649	144,820,000	110,036,000
Ending balance at Jun. 30, 2022	327,372			$ 1	$ 1	2,182,536	13,864	(1,869,030)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued under employee stock plans (in shares)				3,684,000
Common stock issued	9			$ 1		8
Conversion from Class B shares to Class A Common Stock (in shares)				4,912,000	(4,912,000)
Stock-based compensation	948,087					948,087
Repurchased of Class A Common Stock (in shares)				(979,000)
Repurchases of Class A Common Stock	(154,173)							(154,173)
Other comprehensive loss, net of tax	20,138						20,138
Net loss	(486,761)	$ (283,907)	$ (202,854)					(486,761)
Shares, ending balance (in shares) at Jun. 30, 2023		152,442,673	105,124,103	152,437,000	105,124,000
Ending balance at Jun. 30, 2023	$ 654,672			$ 2	$ 1	$ 3,130,631	$ 34,002	$ (2,509,964)

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Cash flows from operating activities:
Net loss	$ (486,761)	$ (519,510)	$ (578,979)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	60,923	51,739	55,950
Stock-based compensation	948,087	524,803	340,817
Impairment charges for leases and leasehold improvements	61,098	0	7,526
Deferred income taxes	10,613	(2,002)	(8,860)
Gain on a non-cash sale of a controlling interest of a subsidiary	(45,158)	0	0
Net loss on exchange derivative and capped call transactions	0	424,482	616,446
Amortization of debt discount and issuance cost	471	27,051	86,572
Net loss (gain) on strategic investments	19,407	72,663	(48,080)
Net foreign currency loss (gain)	(10,613)	(12,065)	7,595
Other	1,488	646	1,381
Changes in operating assets and liabilities:
Accounts receivable, net	(169,526)	(134,764)	(61,256)
Prepaid expenses and other assets	(38,230)	(21,927)	(10,054)
Accounts payable	78,902	31,741	10,441
Accrued expenses and other liabilities	74,611	93,250	76,090
Deferred revenue	362,799	284,937	294,371
Net cash provided by operating activities	868,111	821,044	789,960
Cash flows from investing activities:
Business combinations, net of cash acquired	(5,775)	(19,411)	(91,769)
Purchases of intangible assets	(160)	(4,018)	(1,800)
Purchases of property and equipment	(25,652)	(70,583)	(31,520)
Purchases of strategic investments	(19,450)	(111,668)	(10,250)
Purchases of marketable securities and other investments	(24,800)	(21,003)	(109,181)
Proceeds from maturities of marketable securities	73,950	76,937	454,996
Proceeds from sales of marketable securities and strategic investments	629	186,262	48,786
Net cash provided by (used in) investing activities	(1,258)	36,516	259,262
Cash flows from financing activities:
Proceeds from term loan facility	0	1,000,000	0
Payment of issuance costs for debt	0	0	(4,445)
Repayment of exchangeable senior notes	0	(1,548,686)	(1,803,244)
Proceeds from settlement of capped call transactions	0	135,497	203,093
Repurchases of Class A Common Stock	(150,006)	0	0
Proceeds from other financing arrangements	1,585	13,909	1,163
Net cash used in financing activities	(148,421)	(399,280)	(1,603,433)
Effect of foreign exchange rate changes on cash and cash equivalents	(1,805)	(9,233)	5,408
Net increase (decrease) in cash, cash equivalents, and restricted cash	716,627	449,047	(548,803)
Cash, cash equivalents, and restricted cash at beginning of period	1,386,686	931,023	1,489,143
Net decrease (increase) in cash and cash equivalents included in assets held for sale	602	6,616	(9,317)
Cash, cash equivalents, and restricted cash at end of period	2,103,915	1,386,686	931,023
Reconciliation of cash, cash equivalents, and restricted cash within the consolidated balance sheets to the amounts shown in the consolidated statements of cash flows above:
Cash and cash equivalents	1,385,265	919,227
Restricted cash included in other non-current assets	1,365	1,421	11,796
Total cash, cash equivalents, and restricted cash	2,103,915	1,386,686	931,023
Supplemental disclosures of cash flow information:
Income taxes paid, net of refunds	102,156	66,648	50,272
Interest paid, net	28,493	13,310	6,498
Non-cash investing and financing activities:
Purchase of property and equipment included in accrued expenses and other current liabilities	844	10,740	2,440
Repurchases of Class A Common Stock included in accrued expenses and other current liabilities	4,167	0	0
Transfers from property and equipment to assets held for sale	$ 0	$ 0	$ 35,123

Description of Business	12 Months Ended
Description of Business	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	Description of Business Atlassian Corporation, a Delaware corporation, designs, develops, licenses, and maintains software and provisions software hosting services to help teams organize, discuss, and complete their work. Our primary products include Jira Software and Jira Work Management for planning and project management, Confluence for content creation and sharing, Trello for capturing and adding structure to fluid, fast-forming work for teams, Jira Service Management for team service, management, and support applications, Jira Align for enterprise agile planning, and Bitbucket for code sharing and management. The Company is the successor parent entity to Atlassian Corporation Plc, which was a public company limited by shares, incorporated under the laws of England and Wales. The Company’s fiscal year ends on June 30 of each year. References to fiscal year 2023, for example, refer to the fiscal year ended June 30, 2023. On September 30, 2022, Atlassian Corporation Plc completed a redomestication, which was approved by the shareholders of Atlassian Corporation Plc, resulting in Atlassian Corporation becoming our publicly traded parent company (the “U.S. Domestication”). Atlassian Corporation Plc’s stockholders and the High Court of Justice of England and Wales approved the scheme of arrangement effecting the U.S. Domestication. Effective after the close of market trading on September 30, 2022, all issued and outstanding ordinary shares of Atlassian Corporation Plc were exchanged on a one-for-one basis for newly issued shares of corresponding common stock of Atlassian Corporation, and all issued and outstanding equity awards of Atlassian Corporation Plc were assumed by Atlassian Corporation and were converted into rights to acquire Atlassian Corporation shares of Class A Common Stock on the same terms. The Class A Common Stock of Atlassian Corporation began trading on October 3, 2022 (the first trading day following the U.S. Domestication), and the Company’s trading symbol on The Nasdaq Global Select Market remained unchanged as “TEAM.”

Summary of Significant Accounting Policies

12 Months Ended

Jun. 30, 2023

Accounting Policies [Abstract]

Basis of Preparation

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

Principles of Consolidation

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

Use of Estimates

The preparation of the consolidated financial statements in conformity with GAAP requires management to make certain estimates and assumptions in the Company’s consolidated financial statements. These estimates are based on information available as of the date of the consolidated financial statements. On a regular basis, management evaluates these estimates and assumptions. Such management estimates and assumptions include, but are not limited to, the standalone selling price (“SSP”) of performance obligations for revenue contracts with multiple performance obligations; useful lives and impairment of long-lived assets, valuation of intangible assets, fair value measurement of financial instruments and income taxes. Actual results could differ materially from these estimates.

Segment

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

Foreign Currency

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

Revenue from Contracts with Customers

Policies, Estimates and Judgments

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

Revenues are recognized upon the application of the following steps:

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

2.Identification of the performance obligations in the contract;

3.Determination of the transaction price;

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

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

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

Customer contracts often include promises to transfer multiple products and services to a customer. Determining whether products and services are considered distinct performance obligations that should be accounted for separately versus together may require judgment.

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

Products are generally sold with a right of return and may include other credits or incentives, and, in certain instances, the Company may estimate customer usage of its services, which are accounted for as variable consideration when determining the amount of revenue to recognize. Returns and credits are estimated at contract inception and updated at the end of each reporting period if additional information becomes available. Variable consideration was not material for the periods presented.

Recognition of Revenue

Revenue recognized from contracts with customers is disaggregated into categories that depict how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors. The Company reports revenues in three categories: (i) subscription, (ii) maintenance, and (iii) other. In addition, revenue is presented by geographic region and deployment option in Note 14, “Revenue.”

Subscription Revenues

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

Maintenance Revenues

Maintenance revenues represent fees earned from providing customers with unspecified future updates, upgrades and enhancements and technical product support for perpetual license products on an if-and-when-available basis. Maintenance revenue is recognized ratably over the term of the support period.

Other Revenues

Other revenues primarily include perpetual license revenue and fees received for sales of third-party apps in the Atlassian Marketplace. Technical account management, consulting and training services are also included in other revenues. Perpetual license revenues represent fees earned from the license of software to customers for use on the customer’s premises other than data center products. Software is licensed on a perpetual basis. Perpetual license revenues consist of the revenues recognized from sales of licenses to customers. The Company no longer sells perpetual licenses or upgrades for our Server offerings. The Company typically recognized revenue on the license portion of perpetual license arrangements once the customer obtained control of the license, which is generally upon delivery of the license. Revenue from the sale of third-party apps via Atlassian Marketplace is recognized on the date of product delivery given that all of our obligations have been met at that time and on a net basis the Company functions as the agent in the relationship. Revenue from technical account management is recognized over the time period that the customer has access to the service. Revenue from consulting and training is recognized over time as the services are performed.

Deferred Contract Acquisition Costs

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

The Company determines the period of benefit for commissions paid for the acquisition of the initial customer contract by taking into consideration the initial estimated customer life and the technological life of our unified communications platform and related significant features. The Company includes the deferred contract costs in prepaid expense and other current assets and other non-current assets on the consolidated balance sheets and amortization of deferred contract acquisition costs in marketing and sales expense in the consolidated statements of operations.

Cash, Cash Equivalents and Restricted Cash

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

As of June 30, 2023 and 2022, the Company had restricted cash of $1.4 million, primarily used for the benefit of employees through a deferred compensation plan, and was not available for use in its operations. Restricted cash is included in other non-current assets in the consolidated balance sheets.

Accounts Receivable, net

The Company records trade accounts receivable at the invoice value, and such receivables are non-interest bearing. The Company considers receivables past due based on the contractual payment terms. The Company makes estimates of expected credit and collectability trends based on an assessment of various factors including historical credit loss experience, adjusted for forward-looking factors specific to the debtors and the economic environment that may affect our ability to collect from customers. The allowance for credit losses and write offs were not material for each of the periods as of June 30, 2023, 2022 and 2021.

Fair Value Measurements

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

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

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

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

Marketable Securities

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

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

Strategic Investments

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

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

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

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

Equity Method Investments

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

For entities that meet the definition of a variable interest entity (“VIE”), the Company consolidates those entities when the Company is the primary beneficiary of the entity. The Company is determined to be the primary beneficiary when it possesses both the unilateral power to direct activities that most significantly impact the economic performance of the VIE and the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. The Company continually evaluates whether it qualifies as the primary beneficiary and reconsiders its determination of whether an entity is a VIE upon reconsideration events. As of June 30, 2023, the Company has one investment in an unconsolidated VIE for which it exercises significant influence over their operations and accordingly accounts for it as an equity method investment.

Exchangeable Senior Notes

In 2018, the Company, through its subsidiary Atlassian US, Inc., issued exchangeable senior notes due May 1, 2023 (the “Notes”), which were classified as financial liabilities at amortized cost and measured using the effective interest rate (“EIR”) method. Amortized cost was calculated by taking into account any discount and issuance cost that were an integral part of the EIR. The EIR amortization was included as interest expense in the consolidated statements of operations. In connection with the issuance of the Notes, the Company entered into privately negotiated capped call transactions (the “Capped Calls”) with certain financial institutions. The Capped Call transactions were scheduled to expire in May 2023 and were required to be settled in cash. As of June 30, 2022 the Notes and Capped Calls had been fully settled and are no longer outstanding. Refer to Note 12, “Debt” for further details of the transaction.

Derivative Financial Instruments

The Company enters into foreign exchange forward contracts with the objective to mitigate certain currency risks associated with cost of revenues and operating expenses denominated in foreign currencies. These foreign exchange forward contracts are designated as cash flow hedges. The Company also enters into foreign exchange forward contracts to hedge a portion of certain foreign currency denominated as monetary assets and liabilities to reduce the risk that such foreign currency will be adversely affected by changes in exchange rates. The Company

uses interest rate swaps to hedge the variability of cash flows in the interest payments associated with its variable-rate debt due to changes in the Secured Overnight Financing Rate (“SOFR”) based floating interest rate. The interest rate swaps are designated as cash flow hedges and involve interest obligations for U.S. dollar-denominated amounts. The Company does not enter into derivative instrument transactions for trading or speculative purposes.

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

The Company had other derivatives, such as the embedded exchange feature of the Notes and Capped Calls. Please see Note 12, “Debt” for details. The Notes and Capped Calls were measured at fair value at each reporting date, and gains (losses) from changes in fair values were recognized in other income (expense), net in the consolidated statements of operations. The Company used the Black-Scholes option pricing models to estimate the fair value of the exchange feature of the Notes. Certain inputs used in the model such as stock price volatility requires judgment. The fair value of the Capped Calls was obtained from counterparty banks.

Property and Equipment

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


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

Leases

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

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

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

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

The Company did not have any finance lease arrangements for fiscal years 2023, 2022, and 2021.

Assets Held for Sale

The Company classifies assets as held for sale when all of the following are met: (i) management has committed to a plan to sell the assets; (ii) the assets are available for immediate sale in their present condition; (iii) an active program to locate a buyer has been initiated; (iv) it is probable that a sale will occur within one year; (v) the assets are being actively marketed for sale at a price that is reasonable in relation to their current fair value; and (vi) it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn. If all held for sale criteria are met, the assets are reclassified and presented separately in the consolidated balance sheets as assets held for sale at the lower of the carrying value or the fair value, less cost to sell, and no longer depreciated or amortized. The Company completed a sale of assets that had previously been classified as held for sale in July 2022. Please refer to Note 7, “Assets Held for Sale”, for further details.

Business Combinations

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

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

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

Intangible Assets

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

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


Patents, trademarks and other rights			5 - 12 years
Customer relationships			5 - 10 years
Acquired developed technology			4 - 6 years

Impairment of Long-Lived Assets

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

Goodwill

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

Goodwill is tested for impairment at least annually during the fourth quarter of the Company’s fiscal year and more often if and when circumstances indicate that the carrying value may be impaired. The Company’s reporting unit is at the operating segment level. The Company performs its goodwill impairment test at the level of its operating segment, as there are no levels below the operating segment level for which discrete financial information

is prepared and regularly reviewed by the Company’s CODMs. A qualitative assessment is performed to determine whether it is more likely than not that the fair value of its operating segment is less than it’s carrying amount. If the operating segment does not pass the qualitative assessment, the carrying amount of the operating segment, including goodwill, is compared to fair value and goodwill is considered impaired if the carrying value exceeds its fair value. Any excess is recognized as an impairment loss in current period earnings.

Stock-based Compensation

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

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

In connection with certain business combinations, the Company also issues replacement awards in exchange for awards held by employees of the acquiree. The Company recognizes the portion of the acquiree award that is attributable to pre-combination service as purchase consideration. The portion of the replacement award attributable to post-combination service is recognized as compensation expense over the awards’ requisite service period and classified in the consolidated statements of operations according to the activities that the employees perform. Refer to Note 17, “Stockholders Equity” for more information.

Defined Contribution Plan

The Company offers various defined contribution plans for our U.S. and non-U.S. employees. The Company matches a portion of employee contributions each pay period, subject to maximum aggregate matching amounts, or contributes based on local legislative rates for eligible employees. Total defined contribution plan expense was $78.2 million, $58.7 million, and $41.5 million for fiscal years 2023, 2022, and 2021, respectively.

Advertising Costs

Advertising costs are expensed as incurred as a component of marketing and sales expense in the consolidated statements of operations. Advertising expense was $89.5 million, $90.3 million and $71.0 million for fiscal years 2023, 2022, and 2021, respectively.

Research and Development

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

Concentration of Credit Risk and Significant Customers

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

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

As of June 30, 2023 and June 30, 2022, no customer represented more than 10% of the total accounts receivable balance. For fiscal years ended June 30, 2023, 2022, and 2021, no customer represented more than 10% of the total revenues.

Income Taxes

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

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

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

Uncertain tax positions are recorded in accordance with Accounting Standards Codification Topic 740 Income Taxes (“ASC 740”), Income Taxes. ASC 740 specifies a two-step process in which (1) the Company determines whether it’s more likely than not that tax positions will be sustained on the basis of the technical merits of the position, and (2) for those positions that meet the more-likely-than-not recognition threshold, the Company recognizes the largest amount of tax benefit that is more likely than not to be realized upon ultimate settlement with the related tax authority. The Company considers many factors when evaluating uncertain tax positions, which involve significant judgement and may require periodic reassessment. The Company recognizes interest and penalties related to unrecognized tax benefits as a component of income tax expense. For details of taxation, please refer to Note 19, “Income Taxes.”

New Accounting Standards Not Yet Adopted in Fiscal Year 2023

In June 2022, the FASB issued Accounting Standards Update (“ASU”) No. 2022-03, "Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions." The ASU amends ASC 820: Fair value measurement, to clarify that a contractual sales restriction is not considered in measuring an equity security at fair value and to introduce new disclosure requirements for equity securities subject to contractual sale restrictions that are measured at fair value. The amendments in this ASU are effective for the Company in fiscal years beginning after December 15, 2023, and interim periods within those fiscal years. Early adoption is permitted for both interim and annual financial statements that have not yet been issued or made available for issuance. The Company is still evaluating the impact of this pronouncement on the consolidated financial statements.

Recently Adopted Accounting Pronouncements

In October 2021, the FASB issued ASU No. 2021-08, “Business Combinations: Accounting for Contract Assets and Contract Liabilities from Contracts with Customers (Topic 805)”. The amendments in this ASU require that an acquirer recognizes and measures contract assets and contract liabilities acquired in a business combination in accordance with Topic 606. This ASU is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years and should be applied prospectively to business combinations occurring on or after the effective date of the amendments. Early adoption is permitted. The Company adopted this standard during the fourth quarter of fiscal year 2023. The adoption of this new standard did not have a material impact on the Company’s consolidated financial statements.

In August 2020, the FASB issued ASU 2020-06, “Debt–Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging–Contracts in Entity’s Own Equity (Subtopic 815-40)” to simplify the accounting for convertible instruments and contracts on an entity’s own equity. The Company adopted this standard effective July 1, 2022 using a modified retrospective method. The adoption of this new standard did not have a material impact on the Company’s consolidated financial statements.

In March 2020, the FASB issued ASU No. 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting.” This ASU is elective and provides relief to all entities, subject to meeting certain criteria, that have contracts, hedging relationships, and other transactions that reference London Interbank Offered Rate (“LIBOR”) or another reference rate expected to be discontinued because of reference rate reform. Optional expedients are provided for contract modification accounting under topics such as debt, leases, and derivatives. The optional amendments were to be effective for all entities as of any date from the beginning of an interim period that includes or is subsequent to March 12, 2020 through December 31, 2022. In December 2022, the FASB issued ASU No. 2022-06, “Deferral of the Sunset Date of Topic 848,” which deferred the sunset date of Topic 848 from December 31, 2022 to December 31, 2024 to align with the amended cessation date of LIBOR which was delayed to June 30, 2023. The Company adopted this ASU during the fourth quarter of fiscal year 2023 and elected to apply the practical expedient which allows us to account for the modification of the Credit Facility as if the modification was not substantial. The Company has also elected the practical expedient to assume that the forecasted transaction in a cash flow hedge is probable of occurring and the practical expedient to continue to apply hedge accounting without dedesignating the interest rate swap. The adoption of this accounting standard did not have a material impact on the Company’s consolidated financial statements.

Conversion from IFRS to GAAP	12 Months Ended
Conversion from IFRS to GAAP	Jun. 30, 2023
Accounting Changes and Error Corrections [Abstract]
Conversion from IFRS to GAAP	Conversion from IFRS to GAAP As part of the U.S. Domestication, the Company has retrospectively converted its Consolidated Financial Statements from International Financial Reporting Standards (“IFRS”) to GAAP. Refer to Note 1, “Description of Business” for additional details. The significant differences between IFRS and GAAP as they relate to these financial statements are as follows: (a) Stock-based Compensation Under IFRS, prior to the adoption of GAAP, the Company adhered to the accelerated method of expense recognition for stock-based compensation subject to graded vesting. The application of this accounting method results in more of the grant’s stock-based compensation expense being recognized in the earlier years of the grant. Under GAAP, the Company accounts for stock-based awards using the straight-line expense method, recognizing the expense ratably over the service period which is generally four years. This change in the timing of the expense recognition is the primary driver for the GAAP transition differences. (b) Leases Under IFRS, prior to the adoption of GAAP, the Company, as lessee, applied the single lease model that is similar to the accounting for a finance lease under GAAP. The expense recognition presented a higher portion of the total expense earlier in the term as a combination of straight-line depreciation of the right-of-use asset and the effective interest rate method applied to the lease liability results in a decreasing rate of interest expense recognition throughout the lease term. Under GAAP, there is dual classification lease accounting model for lessees: finance leases and operating leases. The Company, as lessee, classified all its leases as operating leases and recognizes a single lease expense, including both a right-of-use asset depreciation component and an interest expense component, on a straight-line basis throughout the lease term. (c) Strategic Investments The Company invests in equity securities of public and private companies in which the Company does not have a controlling interest or significant influence. Under IFRS, the movement in the valuation of these investments had been recorded in other comprehensive income. Under GAAP, the Company records any impairment of these equity investments, as well as any changes in value resulting from observable price changes as a result of orderly transactions for identical or similar investments of the same issuer, in the consolidated statements of operations. This change in classification is the primary driver of the GAAP transition differences. (d) Exchangeable Senior Notes In 2018, Atlassian US, Inc. issued $1 billion in aggregate principal amount of the exchangeable senior notes (the “Notes”) due on May 1, 2023. The Notes were senior, unsecured obligations of the Company, and were scheduled to mature on May 1, 2023, unless earlier exchanged, redeemed or repurchased. The Notes were fully redeemed by the Company in fiscal year 2022. The exchange feature of the Notes required bifurcation from the Notes and was accounted for as a derivative liability. The fair value of the Notes’ embedded exchange derivative at the time of issuance was $177.9 million and was recorded as original debt discount for purposes of accounting for the debt component of the Notes. This discount was amortized as interest expense using the effective interest rate method over the term of the Notes. Under IFRS, the Company determined the effective interest rate using estimated cash flows, based on the anticipated timing on cash inflows and outflows. Under GAAP, the Company has calculated the effective interest rate using contractual cash flows, focusing on the flow of funds as determined by contractual arrangements. This change in calculation of the effective interest rate is the primary driver of the GAAP transition differences. (e) Income Taxes Prior to the adoption of GAAP, the Company accounted for income taxes pursuant to International Accounting Standard 12 Income Taxes (“IAS 12”), International Financial Reporting Interpretations Committee 23 Uncertainty over Income Tax Treatments (“IFRIC 23”) and International Accounting Standard 34 Interim Reporting. Upon the adoption of GAAP, the Company now accounts for income taxes pursuant to ASC 740 as noted below: i.Deferred Tax Deferred tax has been adjusted to remove any backwards tracing components that are permitted under IAS 12 and prohibited under ASC 740. Specifically, backwards tracing is prohibited with regard to adjustments to the beginning of the year balance of a valuation allowance because of a change in judgement about the realizability of related deferred tax assets in future years. Deferred tax liabilities and assets for investments in subsidiaries, partnerships, corporate ventures, and other entities have been assessed based on the criteria in ASC 740 rather than IAS 12. Where applicable, the Company has adopted the exception criteria in establishing whether a deferred tax asset or liability is required to be recognized. The Company acknowledges that a deferred tax asset or liability will be recognized for any investments that are not subject to the exception criteria. Under IFRS, when assessing the recognition of deferred taxes on outside basis differences between the carrying amount of an investment for financial reporting purposes and the underlying tax basis in that investment, the Company had adopted the exceptions in IAS 12 such that no deferred tax assets or liabilities had been recorded on outside basis differences that exist for any controlled subsidiaries. Under GAAP, the Company is required to recognize deferred taxes attributable to outside basis interests in equity accounted investments in addition to fiscally transparent entities such as partnerships and trusts. On that basis, the Company has recorded deferred taxes for the U.S. group’s interest in foreign and domestic fiscally transparent entities, and it is expected to recognize deferred taxes in respect of any equity accounted associate investments that it does not control. ii.Valuation Allowance The realizability of deferred tax assets was considered under GAAP and the determination to maintain a full valuation allowance in the United States and Australia was made. This is a substantially similar result under IFRS. For footnote presentation purposes, all deferred tax assets, liabilities, and valuation allowances are now reported on gross basis rather than a net basis. iii.Uncertain Tax Positions The Company recognizes and measures any uncertain tax positions in accordance with ASC 740 rather than IFRIC 23. Accordingly, the Company recognizes, and measures uncertain tax positions based on a two-step process outlined in the Income Tax section of Critical Accounting Policies. iv.Stock-Based Compensation Under IFRS, the measurement of the stock-based compensation deferred tax asset is based on an estimate of the future tax deduction based on the current stock price at each reporting period. When the expected tax benefits from equity awards exceed the recorded cumulative recognized expense multiplied by the tax rate, the tax benefit up to the amount of the tax effect of the cumulative book compensation expense is recorded in the consolidated statement of operations; the excess is recorded in equity. When the expected tax benefit is less than the tax effect of the cumulative amount of recognized expense, the entire tax benefit is recorded in the consolidated statement of operations. Under GAAP, the Company measures the stock-based compensation deferred tax asset based on the amount of compensation cost recognized for financial statement purposes. Changes in stock price do not result in a remeasurement of the related deferred tax asset. Upon settlement or expiration, excess tax benefits and tax deficiencies are recognized within the provisions for income taxes. v.Other Pre-tax Changes The tax effects resulting from other accounting changes to pre-tax income, including leases, strategic investments, and notes, are included in the tax provision under GAAP.

Fair Value Measurements

12 Months Ended

Jun. 30, 2023

Fair Value Disclosures [Abstract]

Fair Value Measurements

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


	Level 1		Level 2		Total

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





Marketable securities:


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




Derivative financial instruments	—		64,210		64,210





Strategic investments:

Publicly traded equity securities	19,365		—		19,365



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

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



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

The following table presents the Company’s financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2022, by level within the fair value hierarchy (in thousands):


	Level 1		Level 2		Total
Assets measured at fair value
Cash and cash equivalents:
Money market funds	$	555,247	$	—	$	555,247






Marketable securities:
U.S. treasury securities	—		70,294		70,294

Certificates of deposit and time deposits	—		3,000		3,000




Derivative financial instruments	—		44,052		44,052





Strategic investments:

Publicly traded equity securities	30,801		—		30,801


Total assets measured at fair value	$	586,048	$	117,346	$	703,394

Liabilities measured at fair value
Derivative financial instruments	$	—	$	24,100	$	24,100






Total liabilities measured at fair value	$	—	$	24,100	$	24,100

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

Determination of Fair Value

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

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

The Company’s investments in privately held companies are not included in the tables above and are discussed in Note 5, “Investments.” The carrying value of the Company’s privately held equity securities are

adjusted on a non-recurring basis upon observable price changes in orderly transactions for identical or similar investments of the same issuer, or impairment (referred to as the measurement alternative). Privately held equity securities that have been remeasured during the period based on observable price changes in orderly transactions are classified within Level 2 or Level 3 in the fair value hierarchy because the Company estimates the value based on valuation methods which may include a combination of the observable transaction price at the transaction date and other unobservable inputs including volatility, rights and preferences of the investments, and obligations of the securities the Company holds. The fair value of privately held equity securities that have been remeasured due to impairment are classified within Level 3. The Company’s privately held debt and equity securities amounted to $140.1 million and $128.3 million as of June 30, 2023 and June 30, 2022, respectively.

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

Investments, Debt and Equity Securities [Abstract]

Investments

12 Months Ended

Jun. 30, 2023

Investments

Marketable Securities

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


	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value



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




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

As of June 30, 2023, the Company had $10.0 million of investments which were classified as marketable debt securities on the Company’s consolidated balance sheets.

The Company’s investments of marketable securities as of June 30, 2022, consisted of the following (in thousands):


	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value

U.S. treasury securities	$	70,947	$	—	$	(653)	$	70,294

Certificates of deposit and time deposits	3,000		—		—		3,000





Total marketable securities	$	73,947	$	—	$	(653)	$	73,294

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


	June 30, 2023		June 30, 2022
Due in one year or less	$	10,000	$	73,294

The Company regularly reviews the changes to the rating of its marketable securities by rating agencies and monitors the surrounding economic conditions to assess the risk of expected credit losses. As of June 30, 2023, no unrealized losses were recorded, and as of June 30, 2022, the 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 June 30, 2023, consisted of the following (in thousands):


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

The Company’s investments of privately held debt securities as of June 30, 2022, consisted of the following (in thousands):


	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
Privately held debt securities	$	5,486	$	—	$	(4,218)	$	1,268

Carrying value of publicly traded and privately held equity securities

The carrying value is measured as the total initial cost plus the cumulative net gain (loss). Publicly traded equity securities are recorded at fair value and privately held equity securities are measured using the measurement alternative. The carrying values for publicly traded and privately held equity securities as of June 30, 2023 are summarized below (in thousands):


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

Privately held equity securities cumulative net loss is comprised of downward adjustments and impairment of $5.9 million and upward adjustments of $5.5 million as of June 30, 2023. As of June 30, 2023 publicly traded equity securities were classified as prepaid expenses and other current assets on the consolidated balance sheets.

The carrying values for publicly traded and privately held equity securities as of June 30, 2022 are summarized below (in thousands):


	Publicly traded equity securities		Privately held equity securities		Total
Initial total cost	$	10,270	$	120,300	$	130,570
Cumulative net gain	20,531		6,695		$	27,226
Carrying value	$	30,801	$	126,995	$	157,796

Privately held equity securities cumulative net gain is comprised of upward adjustments of $6.7 million as of June 30, 2022.

Gains and Losses on Strategic Investments

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


	Fiscal Year Ended June 30,
	2023		2022		2021
Unrealized gains (losses) recognized on publicly traded equity securities	$	(11,437)	$	(79,608)	$	34,290
Unrealized gains recognized on privately held equity securities	307		6,945		—
Unrealized losses recognized on privately held equity securities including impairment	(7,642)		—		(250)
Unrealized losses on privately held debt securities	(350)		—		—
Unrealized gains (losses), net	$	(19,122)	$	(72,663)	$	34,040
Realized gains recognized on publicly traded equity securities	—		—		14,040
Realized losses on debt securities	(285)		—		—
Gains (losses) on strategic investments, net	$	(19,407)	$	(72,663)	$	48,080
Unrealized gains (losses) recognized during the reporting period on privately held equity securities still held at the reporting date	$	(6,986)	$	6,945	$	(250)

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

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

Equity Method Investment

On July 20, 2022, the Company completed a non-cash sale of its controlling interest of Vertical First Trust (“VFT”) to a third-party buyer. Please refer to Note 7, “Assets held for sale,” for additional details. The Company retained a minority equity interest of 13% in the form of ordinary units and has significant influence in VFT. The Company’s interest in VFT is accounted for using the equity method in the consolidated financial statements.

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

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


	Equity Method Investment
Balance as of July 20, 2022	$	88,853
Effect of change in exchange rates	(3,417)
Balance as of June 30, 2023	$	85,436

The carrying amount of the Company’s investment in VFT was reported within strategic investments in the consolidated balance sheets. The Company’s share in the profits and losses of VFT was not material during fiscal year 2023.

Derivative Contracts

12 Months Ended

Jun. 30, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Contracts

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

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


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

The following table sets forth the notional amounts of the Company’s hedging derivative instruments as of June 30, 2022 (in thousands, except for average interest rate):


	Notional Amounts of Derivative Instruments
	Notional Amount by Term to Maturity								Classification by Notional Amount
	Under 12 months		Over 12 months			Total			Cash Flow Hedge			Non Hedge		Total
Forward contracts	$	612,523	$	37,015		$	649,538		$	401,534		$	248,004	$	649,538
Interest rate swaps:
Notional amount	$	—	$	650,000		$	650,000		$	650,000		$	—	$	650,000
Average interest rate			0.81		%	0.81		%	0.81		%			0.81		%

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


		As of June 30,
	Balance Sheet Location	2023		2022
Derivative assets
Derivatives designated as hedging instruments:
Foreign exchange forward contracts	Prepaid expenses and other current assets	$	3,177	$	—

Interest rate swaps	Prepaid expenses and other current assets	28,926		13,296
Interest rate swaps	Other non-current assets	28,215		30,367
Derivatives not designated as hedging instruments:
Foreign exchange forward contracts	Prepaid expenses and other current assets	3,892		389
Total derivative assets		$	64,210	$	44,052

Derivative liabilities
Derivatives designated as hedging instruments:
Foreign exchange forward contracts	Accrued expenses and other current liabilities	$	9,657	$	18,208
Foreign exchange forward contracts	Other non-current liabilities	209		812
Derivatives not designated as hedging instruments:
Foreign exchange forward contracts	Accrued expenses and other current liabilities	248		5,080
Total derivative liabilities		$	10,114	$	24,100

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



	Fiscal Year Ended June 30,
	2023		2022		2021

Beginning balance of accumulated gains (losses) in accumulated other comprehensive income	$	24,502	$	(2,936)	$	13,072
Gross unrealized gains recognized in other comprehensive income	17,952		11,421		19,069
Net (gains) losses reclassified from cash flow hedge in accumulated other comprehensive income into profit or loss:
Recognized in cost of revenues	1,831		525		(1,326)
Recognized in research and development	16,890		10,513		(28,490)
Recognized in marketing and sales	1,337		220		(400)
Recognized in general and administrative	5,563		1,606		(4,861)
Recognized in interest	(19,905)		3,153		—
Ending balance of accumulated gains (losses) in accumulated other comprehensive income	$	48,170	$	24,502	$	(2,936)

Assets Held For Sale

12 Months Ended

Jun. 30, 2023

Discontinued Operations and Disposal Groups [Abstract]

Assets Held For Sale

During the fourth quarter of fiscal year 2021, the Company committed to a plan to sell its controlling interest of its subsidiary, VFT, which was established for the construction project associated with the Company’s new global headquarters in Sydney, Australia (the “Australian HQ Property”). In July 2021, the Company entered into a term sheet with a third-party buyer to effect the sale. The term sheet provided a framework for the buyer to invest in and develop the Australian HQ Property. In March 2022, the Company entered into a series of agreements with the buyer, including an Agreement for Lease (the “AFL”). On July 20, 2022, the Company completed a non-cash sale of its controlling interest of VFT to the buyer and recognized a gain of $45.2 million from the sale in other income (expense), net, in the consolidated statements of operations during fiscal year 2023, representing the difference between the fair value of the Company’s retained investment and the derecognized VFT assets and liabilities upon loss of control. Please refer to Note 5, “Investments” for additional details.

The major assets classified as held for sale as of June 30, 2023 and 2022 were as follows (in thousands):


	As of June 30,
	2023		2022
Cash and cash equivalents	$	—	$	2,701
Property and equipment, net	$	—	$	57,482

Property and Equipment

12 Months Ended

Jun. 30, 2023

Property, Plant and Equipment [Abstract]

Property and Equipment

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


	As of June 30,
	2023		2022
Equipment	$	9,298	$	9,140
Computer Hardware and Software	29,801		18,324
Furniture and Fittings	24,773		25,157
Leasehold Improvements and Other	123,125		124,758

Property and equipment, gross	186,997		177,379
Less: accumulated depreciation and impairment	(105,595)		(76,717)
Property and equipment, net	$	81,402	$	100,662

Depreciation expense was $27.8 million, $19.3 million and $24.2 million for fiscal years 2023, 2022, and 2021, respectively.

During fiscal year 2023, the Company recorded an $8.4 million impairment charge for leasehold improvements as a result of our restructuring efforts. Refer to Note 15, “Restructuring,” for additional information.

During fiscal year 2021, the Company recorded a $4.1 million impairment charge for property and equipment related to the early termination of a real estate lease.

Goodwill and Intangible Assets

12 Months Ended

Jun. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill

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

Goodwill consisted of the following (in thousands):


	Goodwill
Balance as of June 30, 2021	$	715,929
Additions	9,361
Effect of change in exchange rates	(2,452)
Balance as of June 30, 2022	722,838
Additions	3,300
Effect of change in exchange rates	1,073
Balance as of June 30, 2023	$	727,211

During fiscal years 2023 and 2022 the Company completed acquisitions primarily to expand our product and service offerings. The transactions were accounted for as business combinations and were not significant to our consolidated financial statements.

Intangible Assets

Intangible assets consisted of the following (in thousands):


	As of June 30,				Weighted-Average Remaining Useful Lives (Years)
	2023		2022
Acquired Developed Technology	$	235,818	$	234,618	2
Patents, Trademarks, and Other Rights	33,393		33,393		5
Customer Relationships	129,502		129,502		5
Intangible assets, gross	398,713		397,513
Less: accumulated amortization	(329,641)		(296,673)
Intangible assets, net	$	69,072	$	100,840

Amortization expense for intangible assets were approximately $33.1 million, $32.4 million and $31.8 million for fiscal years 2023, 2022, and 2021, respectively.

The following table presents the estimated future amortization expense related to intangible assets held as of June 30, 2023 (in thousands):


Fiscal Years:
2024	$	26,229
2025	15,208
2026	12,670
2027	7,839
Thereafter	7,126
Total future amortization expense	$	69,072

Business Combinations	12 Months Ended
Business Combinations	Jun. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Business Combinations	Business CombinationsWe completed an acquisition primarily to expand our product and service offerings during the fiscal year 2023. The transaction was accounted for as a business combination and is not significant to our consolidated financial statements.

Accrued Expenses and Other Current Liabilities

12 Months Ended

Jun. 30, 2023

Other Liabilities Disclosure [Abstract]

Accrued Expenses and Other Current Liabilities

Accrued Expenses and Other Current LiabilitiesAccrued expenses and other current liabilities consist of the following (in thousands):


	As of June 30,
	2023		2022
Accrued expenses	$	107,479	$	123,381
Employee benefits	191,801		197,701
Tax liabilities	88,748		26,367
Customer deposits	11,784		9,718
Derivative liabilities	9,905		23,288
Liabilities held for sale	—		17,564
Other payables	13,414		8,120
Total accrued expenses and other liabilities	$	423,131	$	406,139

Leases

12 Months Ended

Jun. 30, 2023

Leases [Abstract]

Leases

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

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


	Fiscal Year Ended June 30,
	2023			2022			2021
Operating lease costs	$	50,134		$	49,647		$	43,199
Variable lease costs	13,094			12,077			13,604
Total lease costs	$	63,228		$	61,724		$	56,803

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

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


	Fiscal Year Ended June 30,
	2023		2022		2021
Cash payments for operating leases	$	41,493	$	49,142	$	44,874
Right-of-use assets obtained in exchange for new operating lease liabilities	$	3,580	$	105,961	$	27,042

Future lease payments under non-cancelable operating leases with initial lease terms in excess of one year included in the Company’s lease liabilities as of June 30, 2023 were as follows (in thousands):


Fiscal years:	Operating Lease Payments
2024	$	51,479
2025	49,078
2026	42,306
2027	37,534
2028	38,601
Thereafter	90,870
Total future operating lease payments	309,868
Less: imputed interest	(27,103)

Total lease liability balance (1)	$	282,765

(1) Lease liabilities include those operating leases that we plan to sublease as a part of our facilities consolidation restructuring efforts. For additional information, see Note 15, “Restructuring.”

During fiscal year 2023, in addition to operating lease costs disclosed above, we recorded an impairment charge of $52.7 million in aggregate for operating lease right-of-use assets as part of our lease consolidation efforts. Refer to Note 15, “Restructuring,” for additional information.

During fiscal year 2021, in addition to operating lease costs disclosed above, we recorded an impairment charge of $3.9 million related to the early termination of a real estate lease.

The Company entered into the AFL for the Australian HQ Property in March 2022. Following completion of the development of the Australian HQ Property, the AFL requires the Company to enter into a lease agreement for the planned headquarters office space. The lease is expected to commence in fiscal year 2027 and will continue for fifteen years, with the Company’s option to extend the term for up to two additional ten-year periods. Future lease payments are approximately $919.3 million as of June 30, 2023, for the initial term of fifteen years. Please refer to Note 5, “Investments,” and Note 7, “Assets held for sale,” for details of the transaction.

Debt	12 Months Ended
Debt	Jun. 30, 2023
Debt Disclosure [Abstract]
Debt	Debt Exchangeable Senior Notes In 2018, Atlassian US, Inc., issued $1 billion in aggregate principal amount of the Notes. The Notes were senior, unsecured obligations of the Company, and were scheduled to mature on May 1, 2023, unless earlier exchanged by investors, or redeemed or repurchased by the Company. In connection with the issuance of the Notes, the Company entered into privately negotiated Capped Calls with certain financial institutions. The aggregate cost of the Capped Calls was $87.7 million. The Capped Call were scheduled to expire in May 2023 and were required to be settled in cash. The exchange feature of the Notes required bifurcation from the Notes and was accounted for as a derivative liability. The Capped Calls were accounted for as derivative assets. The Notes embedded exchange derivative liability and Capped Call assets were carried on the consolidated balance sheets at their estimated fair values and were adjusted at the end of each reporting period, with unrealized gain or loss reflected in the consolidated statements of operations. The current or non-current classification of the embedded exchange derivative liability and the Capped Calls asset corresponded with the classification of the Notes on the consolidated balance sheets. The classification was evaluated at each balance sheet date. The Notes and Capped Calls were fully settled in fiscal year 2022. There was no balance outstanding related to the Notes as of June 30, 2023 and 2022. A total of $424.5 million and $616.4 million of net loss on exchange derivative and Capped Call were recognized during fiscal years 2022 and 2021, respectively. Credit Facility In October 2020, Atlassian US, Inc. entered into a credit agreement (the “Credit Agreement”) establishing a $1 billion senior unsecured delayed-draw term loan facility (the “Term Loan Facility”) and a $500 million senior unsecured revolving credit facility (the “Revolving Credit Facility,” and together with the Term Loan Facility, the “Credit Facility”). The Company used the net proceeds of the Credit Facility for general corporate purposes, including repayment of the then existing indebtedness. Prior to July 1, 2023, amounts outstanding under the Credit Facility bore interest, at the Company’s option, at a base rate plus a margin up to 0.50% or LIBOR rate plus a spread of 0.875% to 1.50%, in each case with such margin being determined by the Company’s consolidated leverage ratio. On June 2, 2023 the Company entered into the LIBOR Transition Amendment to the Credit Agreement (the “LIBOR Amendment”). The LIBOR Amendment replaced LIBOR with SOFR as the reference rate used to calculate interest payments for borrowing under the Credit Facility commencing on July 1, 2023. The interest due applies to borrowing, at the Company’s option, at a base rate plus a margin up to 0.50% or SOFR rate, plus a credit spread adjustment of 0.10% plus a spread of 0.875% to 1.50%, in each case with such margin being determined by the Company’s consolidated leverage ratio. The Revolving Credit Facility may be borrowed, repaid, and re-borrowed until its maturity, and the Company has the option to request an increase of $250 million in certain circumstances. The Credit Facility matures in October 2025 and the Company may prepay the Credit Facility at its discretion without penalty. Commencing on October 31, 2023, the Company is obligated to repay the outstanding principal amount of the Term Loan Facility in installments on a quarterly basis in an amount equal to 1.25% of the Term Loan Facility borrowing amount until the maturity of the Term Loan Facility. The Company incurred debt issuance costs of $4.4 million in connection with entering into the Credit Facility. The debt issuance costs were amortized over the terms of the Term Loan Facility and Revolving Credit Facility. As of June 30, 2023, $1.0 billion has been drawn under the Term Loan Facility. The Company is also obligated to pay a commitment fee on the undrawn amounts of the Revolving Credit Facility at an annual rate ranging from 0.075% to 0.20%, determined by the Company’s consolidated leverage ratio. The 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 ratio increases to 4.5x during the period of four fiscal quarters immediately following a material acquisition. As of June 30, 2023, the Company was in compliance with all related covenants. On September 30, 2022, prior to the consummation of the U.S. Domestication, Atlassian Corporation Plc entered into Amendment No. 1 to the Credit Agreement (the “First Amendment”). The First Amendment sets forth the requirements for the assumption of the obligations of Atlassian Corporation Plc by Atlassian Corporation under the Credit Agreement and provides that the financial statements required to be delivered under the Credit Agreement, as amended, will be prepared in accordance with GAAP and financial definitions under the Credit Agreement, as amended, will be interpreted in accordance with GAAP.

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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Commitments and Contingencies Disclosure [Abstract]

Commitment and Contingencies

12 Months Ended

Jun. 30, 2023

Commitments and Contingencies

Noncancellable Purchase Obligations

The Company has contractual commitments for services with third-parties related to its cloud services platform and other infrastructure services. These commitments are non-cancellable and expire within one to five years. There were no material contractual commitments that were entered into during fiscal year 2023 that were outside the ordinary course of business.

The following table sets forth contractual commitments as of June 30, 2023 and 2022 (in thousands):


	Fiscal Year Ended June 30,
	2023		2022
Contractual purchase obligations	$	1,788,740	$	152,935
Obligations for leases that have not yet commenced	919,333		956,118
Total purchase obligation	$	2,708,073	$	1,109,053

Maturities of purchase obligations as of June 30, 2023 were as follows (in thousands):


	Other contractual commitments		Leases not commenced		Total
Fiscal Year:
2024	$	364,326	$	—	$	364,326
2025	406,108		—		406,108
2026	458,234		—		458,234
2027	419,572		34,434		454,006
2028	140,500		47,290		187,790
Thereafter	—		837,609		837,609
Total commitments	$	1,788,740	$	919,333	$	2,708,073

Please refer to Note 11, “Leases,” for discussion of a lease commitment that the Company has entered but the lease has not yet commenced.

Legal Proceedings

On February 3, 2023, a putative securities class action (the “Putative Class Action”) was filed in the U.S. District Court for the Northern District of California, captioned City of Hollywood Firefighters’ Pension Fund vs. Atlassian Corporation, Case No. 3:23-cv-00519, naming the Company and certain of its officers as defendants. The lawsuit is purportedly brought on behalf of purchasers of the Company’s securities between August 5, 2022 and November 3, 2022 (the “Class Period”). The complaint alleges claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and Rule 10b-5 promulgated thereunder, based on allegedly false and misleading statements about the Company’s business and prospects during the Class Period. The lawsuit seeks unspecified damages. On May 15, 2023, the Court appointed City of Hollywood Firefighters’ Pension Fund and Oklahoma Firefighters Pension and Retirement System as co-lead plaintiffs (the “Plaintiffs”) in the Putative Class Action and approved their selection of lead counsel. The Plaintiffs filed an amended complaint on July 14, 2023, which alleges the same claims against the same defendants for the same Class Period as the original complaint. The defendants’ motion to dismiss the amended complaint is due by September 8, 2023. The defendants intend to deny the allegations of wrongdoing and vigorously defend against the claims in this lawsuit.

In March and April 2023, two stockholder derivative lawsuits were filed in the U.S. District Court for the District of Delaware against the members of the Company’s board of directors and certain of its officers, captioned Silva v. Cannon-Brookes, Case No. 1:23-cv-00283; and Keane v. Cannon-Brookes, Case No. 1:23-cv-00399. The Company is named as a nominal defendant. These stockholder derivative lawsuits are based largely on the same allegations as the Putative Class Action, including allegations relating to the Company’s disclosures during the Class Period as well as, in certain instances, alleged insider trading. The lawsuits purport to assert claims for, among other things, breach of fiduciary duty, corporate waste, unjust enrichment, and violations of 10(b) of the Exchange Act, and Rule 10b-5 promulgated thereunder. The complaint seeks unspecified damages and other relief on the Company’s behalf. The court has consolidated these cases and stayed them pending resolution of any motion to dismiss in the Putative Class Action. In August 2023, a third stockholder derivative lawsuit was filed in the U.S. District Court for the District of Delaware asserting substantially the same claims as the previously filed derivative lawsuits discussed above, captioned Azzawi v. Cannon-Brookes, et al., Case No. 1:23-cv-00884. The defendants intend to seek to have this case consolidated and stayed with the previously filed stockholder derivative lawsuits.

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

Indemnification Provisions

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

Restructuring

12 Months Ended

Jun. 30, 2023

Restructuring and Related Activities [Abstract]

Restructuring

RestructuringOn March 6, 2023, the Company initiated a rebalancing of resources resulting in the elimination of certain roles impacting about 500 full-time employees, or approximately 5% of the Company’s then-current workforce.

These actions are part of the Company’s initiatives to accelerate progress against its highest priorities. These actions include continuing to invest in strategic areas of the business, and aligning talent to best meet customer needs and business priorities. As a result, the Company recorded severance and other termination benefits, including severance, notice period payments, employee transition payments and other benefits of $25.3 million, and stock-based compensation of $10.3 million for the impacted employees during fiscal year 2023. The execution of these actions, including cash payment of the severance and other termination benefits related liabilities, was substantially completed as of June 30, 2023.

In addition, the Company is consolidating its leases, including planned subleasing of several office spaces, 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 $61.1 million during fiscal year 2023. 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 Company continues to evaluate its real estate needs and may incur additional charges in the future.

A summary of our restructuring charges for fiscal year 2023 by major activity type is as follows (in thousands):


	Severance and Other Termination Benefits		Stock-based Compensation		Lease Consolidation		Total
Cost of revenue	$	1,011	$	288	$	7,893	$	9,192
Research and development	8,279		5,866		29,004		43,149
Marketing and sales	7,069		1,815		14,984		23,868
General and administrative	8,961		2,306		9,418		20,685
Total	$	25,320	$	10,275	$	61,299	$	96,894

The following table is a summary of the changes in the liabilities, included within accrued expenses and other current liabilities on the consolidated balance sheets, related to the restructuring charges (in thousands):


	Severance and Other Termination Benefits		Stock-based Compensation		Lease Consolidation		Total
Charges	$	25,320	$	10,275	$	61,299	$	96,894
Payments	(22,481)		—		(201)		(22,682)
Non-cash items	(633)		(10,275)		(61,098)		(72,006)
Liability as of June 30, 2023	$	2,206	$	—	$	—	$	2,206

Revenue

12 Months Ended

Jun. 30, 2023

Revenue from Contract with Customer [Abstract]

Revenue

Remaining Performance Obligations

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

As of June 30, 2023, approximately $1.8 billion of revenue is expected to be recognized from transaction price allocated to remaining performance obligations. The Company expects to recognize revenue on approximately 82% of these remaining performance obligations over the next 12 months with the balance recognized thereafter.

Disaggregated Revenue

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


	Fiscal Year Ended June 30,
	2023		2022		2021
Americas
United States	$	1,537,328	$	1,230,801	$	901,389
Other Americas	227,838		178,067		127,092
Total Americas	$	1,765,166	$	1,408,868	$	1,028,481
EMEA	1,366,739		1,077,338		826,445
Asia Pacific	402,742		316,676		234,206
Total revenues	$	3,534,647	$	2,802,882	$	2,089,132

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 includes support and maintenance service that is bundled with the license for the term of the license period. Server offerings include the license of software on a perpetual basis to customers for use on the customer’s premises and support and maintenance service of unspecified future updates, upgrades and enhancements and technical product support. Marketplace and services offerings mainly include fees received for sales of third-party apps in the Atlassian Marketplace and services like premier support, technical account management, consulting and training. 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 our Consolidated Statements of Operations. For fiscal years 2023, 2022 and 2021, premier support revenues were $17.8 million, $21.1 million and $20.0 million respectively.

We no longer sell perpetual licenses for our Server offerings. Since February 2022, we no longer sell upgrades to Server offerings and plan to end maintenance and support for these Server offerings in February 2024. The revenues from Server offerings during fiscal year 2023 consists of revenue from maintenance service.

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


	Fiscal Year Ended June 30,
	2023		2022		2021
Cloud	$	2,085,498	$	1,515,424	$	967,832
Data Center	819,251		560,319		336,273
Server	400,519		525,028		607,778
Marketplace and services	229,379		202,111		177,249
Total revenues	$	3,534,647	$	2,802,882	$	2,089,132

Deferred Revenue

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


	Fiscal Year Ended June 30,
	2023		2022
Balance, beginning of period	$	1,182,680	$	897,595
Additions	3,897,446		3,087,967
Revenue	(3,534,647)		(2,802,882)
Balance, end of period	$	1,545,479	$	1,182,680

The additions in the deferred revenue balance are primarily cash payments received or due in advance of satisfying the Company’s performance obligations.

For fiscal years 2023 and 2022, approximately 30% and 29% of revenue recognized was from the deferred revenue balances at the beginning of each fiscal year, respectively.

Deferred Contract Acquisition Costs

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


	Fiscal Year Ended June 30,
	2023		2022
Balance, beginning of period	$	27,141	$	9,011
Additions	40,060		24,302
Amortization expense	(13,597)		(6,172)
Balance, end of period	$	53,604	$	27,141
Deferred contract acquisition costs included in:
Prepaid expenses and other current assets	$	18,027	$	8,806
Other non-current assets	35,577		18,335
Total	$	53,604	$	27,141

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

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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Subparagraph (a)
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
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-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
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-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
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-URI https://asc.fasb.org//606/tableOfContent

Geographic Information

12 Months Ended

Jun. 30, 2023

Segment Reporting [Abstract]

Geographic Information

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


	As of June 30,
	2023		2022

United States	$	213,567	$	295,577
Australia	37,891		67,241
All other countries	14,139		15,120
Total long-lived assets	$	265,597	$	377,938

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

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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
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-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
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-Subparagraph (f)
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//280/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-26

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-Topic 280
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Stockholder's Equity

12 Months Ended

Jun. 30, 2023

Equity [Abstract]

Stockholders' Equity

Stockholders’ Equity

Common Stock

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

Atlassian Corporation, and all issued and outstanding equity awards of Atlassian Corporation Plc were assumed by Atlassian Corporation and were converted into rights to acquire Atlassian Corporation shares of Class A Common Stock on the same terms.

As of June 30, 2023, the Company’s common stock consists of Class A Common Stock and Class B Common Stock, each of which has a par value of $0.00001. Each share of Class B Common Stock will convert automatically into one share of Class A Common Stock in the following circumstances: (1) upon the written consent of the holders of at least 66.66% of the total number of outstanding shares of Class B Common Stock; (2) if the aggregate number of shares of Class B Common Stock then outstanding comprises less than ten percent (10%) of the total number of shares of Class A Common Stock and Class B Common Stock then outstanding; and (3) upon any transfer to a person that is not a permitted transferee described in the Company’s amended and restated certificate of incorporation.

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

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

Preferred Stock

The Company’s board of directors has the authority to issue up to 10 million shares of preferred stock in one or more series. The Company’s board of directors may designate the rights, preferences, privileges and restrictions of the preferred stock, including voting rights, dividend rights, conversion rights, redemption privileges and liquidation preferences, the right to elect directors to and increase or decrease the number of shares of any series. As of June 30, 2023 and 2022, no shares of preferred stock were outstanding.

Stock-based Compensation

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

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

At June 30, 2023, the Company had 30,935,067 shares of its common stock available for future issuance under the 2015 Plan, which plan provides for the issuance of incentive and non-statutory share options, share appreciation rights, restricted stock awards, RSUs, unrestricted stock awards, cash-based awards, performance stock awards, performance-based awards to covered employees, and dividend equivalent rights to qualified employees, directors and consultants. The Company currently does not have common stock outstanding or open offering periods under the ESPP.

RSU grants generally vest over four years with 25% vesting on the one year anniversary of the date of grant and 1/12th of the remaining RSUs vest over the remaining three years, on a quarterly basis thereafter. Effective from April 2021, new RSU grants to existing employees vest evenly over four years on a quarterly basis. Performance-based RSUs have non-market performance vesting conditions. Individuals must continue to provide services to the Company in order to vest.

Stock-based compensation is measured based on the grant date fair value of the awards and recognized in the consolidated statements of operations on a straight-line basis over the period during which the employee is required to perform services in exchange for the award.

A summary of RSU activity for fiscal year 2023 is as follows (in thousands except share and per share data):


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












Balance as of June 30, 2022	6,023,997	$	257.62	$	1,128,897
Granted	8,315,466	221.87
Vested	(3,604,960)	236.90		$	617,018
Forfeited or cancelled	(1,171,585)	239.09
Balance as of June 30, 2023	9,562,918	$	235.16	$	1,604,753

The weighted-average grant date fair value of RSUs granted in fiscal years 2022 and 2021 was $332.43 and $192.62, respectively. The total intrinsic value of the RSUs vested in fiscal years 2022 and 2021 was $925.8 million and $734.6 million, respectively. The income tax benefit recognized related to awards vested in fiscal years 2023, 2022 and 2021 was $156.5 million, $242.8 million, and $194.3 million, respectively. As of June 30, 2023, total compensation cost not yet recognized in the consolidated financial statements related to employee and director RSU awards was $1.7 billion, which is expected to be recognized over a weighted-average period of 1.8 years.

During fiscal year 2023, the Company did not grant shares of restricted stock. During fiscal year 2022, the Company granted 8,821 shares of restricted stock. As of June 30, 2023 and 2022, there were 6,131 and 72,484 shares of restricted stock outstanding, respectively. These outstanding shares of restricted stock 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 restricted stock were $1.0 million and $13.6 million as of June 30, 2023 and 2022, respectively.

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

Share Repurchase Program

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

During fiscal year 2023, the Company repurchased and subsequently retired approximately 1.0 million shares of its Class A Common Stock for approximately $154.2 million at an average price per share of $157.49. All repurchases were made in open market transactions. As of June 30, 2023, the Company was authorized to purchase a remaining $845.8 million of its Class A Common Stock under the Share Repurchase Program.

Net Loss Per Share

12 Months Ended

Jun. 30, 2023

Earnings Per Share [Abstract]

Net Loss Per Share

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

For the calculation of diluted net loss per share, net loss for basic EPS is adjusted by the effect of dilutive securities, including awards under the Company’s equity compensation plans. The dilutive potential shares of common stock are computed using the treasury stock method or the as-if converted method, as applicable. Since

the Company is in a loss position for all periods reported, basic and diluted net loss per share are the same for all periods as the inclusion of potential dilutive shares would have been anti-dilutive.

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


	Fiscal Year Ended June 30,
	2023				2022				2021
	Class A		Class B		Class A		Class B		Class A		Class B
Numerator:
Net Loss	$	(283,907)	$	(202,854)	$	(290,290)	$	(229,220)	$	(308,953)	$	(270,026)
Denominator:
Weighted-average shares outstanding, basic and diluted	149,493		106,814		141,545		111,767		133,233		116,446
Net loss per share, basic and diluted	$	(1.90)	$	(1.90)	$	(2.05)	$	(2.05)	$	(2.32)	$	(2.32)

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


	Fiscal Year Ended June 30,
	2023	2022	2021
Class A Common Stock options	—	1	63
Class A Common Stock RSU awards	7,426	3,736	3,480
Class A Common Stock restricted stock awards	17	82	178
Total potentially dilutive securities	7,443	3,819	3,721

Income Taxes

12 Months Ended

Jun. 30, 2023

Income Tax Disclosure [Abstract]

Income Taxes

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


	Fiscal Year Ended June 30,
	2023		2022		2021
Domestic	$	(25,250)	$	(480,982)	$	(603,257)
Foreign	(285,886)		10,044		88,842
Total	$	(311,136)	$	(470,938)	$	(514,415)

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


	Fiscal Year Ended June 30,
	2023		2022		2021
Current:
Federal	$	4,327	$	280	$	155
State	1,045		570		367
Foreign	162,072		51,040		73,017
Total	167,444		51,890		73,539
Deferred:
Federal	1,467		(44)		(777)
State	(1,066)		(1,641)		(1,053)
Foreign	7,780		(1,633)		(7,145)
Total	8,181		(3,318)		(8,975)
Total provision for income taxes	$	175,625	$	48,572	$	64,564

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


	Fiscal Year Ended June 30,
	2023			2022			2021
Tax at federal statutory rate	$	(65,339)		$	(98,897)		$	(108,027)
State, net of the federal benefit	13,042			13,363			9,144
Effects of non-U.S. operations	15,163			(6,879)			5,436
Tax credits	(99,398)			(107,956)			(73,280)
Stock-based compensation	80,471			(41,692)			(69,276)
Non-deductible executive compensation	6,022			13,580			6,552
Non-deductible charges relating to the Notes	—			89,188			131,769
Intellectual property transfer	—			—			5,460
Australian R&D deductions forgone in lieu of R&D credit	30,303			32,661			22,404
Foreign taxes	2,457			4,491			1,052
Basis difference in investments	(43,564)			(36,853)			(13,789)
Change in reserves	132,528			14,179			10,091
Change in valuation allowance	98,613			172,033			136,284
Other	5,327			1,354			744
Provision for income taxes	$	175,625		$	48,572		$	64,564
Effective Tax Rate (%)	(56)		%	(10)		%	(13)		%

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


	As of June 30,
	2023		2022
Deferred tax assets:
Property and equipment	$	5,528	$	8,531
Net operating loss carryforwards	857,944		1,013,750
Credit carryforwards	183,520		154,487
Operating lease liabilities	64,774		74,269
Basis differences in investments	1,690,440		1,601,047
Stock-based compensation	7,246		(33,095)
Provisions, accruals and prepayments	36,255		38,763
Deferred revenue	208,541		146,044
Capitalized research and development	28,330		—
IRC 163(j) carryforward	84		27,032
Intangible assets	641		(3,210)
Total deferred tax assets	$	3,083,303	$	3,027,618
Less valuation allowance	(3,019,080)		(2,941,191)
Total deferred tax assets, net of valuation allowance	$	64,223	$	86,427

Deferred tax liabilities:
Unrealized foreign currency exchange losses	$	3,087	$	1,338
Unrealized investment gains	11,684		9,373
Operating right of use assets	48,119		69,166
Other, net	2,057		(3,473)
Total deferred tax liabilities	$	64,947	$	76,404
Net deferred tax assets (liabilities)	$	(724)	$	10,023

The Company recorded a valuation allowance of $3.0 billion, $2.9 billion and $2.8 billion as of June 30, 2023, 2022, and 2021, respectively, primarily relating to the basis difference of the US investment in a wholly owned partnership, U.S. and Australian net operating loss and credit carryforwards, and the deferred revenue deferred tax assets. The change in valuation allowance as of June 30, 2023, 2022 and 2021, was primarily related to an increase in the basis difference of the US investment in a wholly owned partnership and an increase in the deferred revenue deferred tax assets and certain credit carryforwards, offset by the utilization of U.S. federal and state net operating losses. The Company regularly assesses the realizability of its deferred tax assets and establishes a valuation allowance if it is more likely than not that some or all of its deferred tax assets will not be realized. The Company evaluates and weighs all positive and negative evidence such as historic results, future reversals of deferred tax liabilities, projected future taxable income, as well as prudent and feasible tax planning strategies. The assessment requires significant judgement and is performed in each of the applicable jurisdictions. The Company intends to maintain a full valuation allowance on its federal deferred tax assets in the U.S. and Australia until there is sufficient positive evidence to support their reversal.

As of June 30, 2023, the Company had U.S. federal, state, and foreign net operating loss carryforwards of $886.0 million tax effected. Of the $788.3 million tax effected U.S. federal net operating loss carryforwards, $788.0 million may be carried forward indefinitely, and the remaining $0.3 million will begin to expire in 2032. The state net operating loss carryforwards of $94.5 million tax effected begin to expire in 2024. As of June 30, 2023, the Company also had research and development federal and state tax credits of $191.4 million. The federal tax credit carryforwards will expire beginning in 2035 if not utilized. The state tax credit carryforwards do not expire except for the State research and development credits of Texas which begins to expire in June 2038. Utilization of the Company’s US net operating loss and tax credit carryforwards may be subject to annual limitation due to the ownership change limitations provided by the Internal Revenue Code and similar state provisions. Such an annual limitation could result in the expiration of the net operating loss and tax credit carryforwards before utilization. As of June 30, 2023, the Company also had Indian AMT credits of $3.7 million that will begin to expire in 2036 and Polish

R&D credits of $5.3 million, which will begin to expire in 2027, but which may also be used to satisfy payroll tax liabilities in the future.

The Inflation Reduction Act of 2022 (the “IRA”) was enacted on August 16, 2022 and includes various corporate tax provisions, including a new Corporate Alternative Minimum Tax (“Corporate AMT”) on applicable corporations with adjusted financial statement income exceeding $1 billion, on average, over the last three years. The Corporate AMT is effective for tax years beginning after December 31, 2022. As of June 30, 2023, the newly enacted IRA tax provisions are not material to the Company.

U.S. income tax has not been recognized on the excess of the amount for financial reporting over the tax basis of investment in foreign subsidiaries that is indefinitely reinvested outside the United States. Un-remitted earnings become taxable upon repatriation of assets from the subsidiary or a sale or liquidation of the subsidiary. The amount of such unremitted earnings is approximately $458.8 million as of June 30, 2023, and the corresponding unrecognized deferred tax liability is not material.

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


	Fiscal Year Ended June 30,
	2023		2022		2021
Beginning of the period	$	53,483	$	37,944	$	26,841
Tax positions taken in prior period:
Gross increases	112,781		1,031		147
Gross decreases	(198)		—		(56)
Tax positions taken in current period:
Gross increases	15,171		14,542		11,044
Settlements	(57,004)		—		—
Lapse of statute of limitations	(32)		(34)		(32)
Currency translation effect	(1,899)		—		—
End of period	$	122,302	$	53,483	$	37,944

As of June 30, 2023, 2022 and 2021, the Company had gross unrecognized tax benefits of approximately $113.2 million, $2.5 million, and $1.9 million, respectively, that would impact the effective tax rate if recognized.

The Company files income tax returns in the U.S. federal jurisdiction, various state jurisdictions, Australia, and in various other international jurisdictions. Tax years 2012 and forward generally remain open for examination for federal and state tax purposes. Tax years 2017 and forward generally remain open for examination for foreign tax purposes. To the extent utilized in future years’ tax returns, net operating loss carryforwards as of June 30, 2023 and 2022 will remain subject to examination until the respective tax year is closed.

There are differing interpretations of tax laws and regulations, and as a result, disputes may arise with tax authorities involving issues of the timing and amount of deductions and allocations of income among various tax jurisdictions. The Company believes that adequate amounts have been reserved for any adjustments that may ultimately result from these examinations. Although the timing of the resolution, settlement, and closure of any audit is highly uncertain, it is reasonably possible that the balance of gross unrecognized tax benefits could significantly change in the next 12 months.

Since fiscal year 2020, the Company has been in unilateral advanced pricing agreement (“APA”) negotiations with the Australian Taxation Office relating to the Company’s transfer pricing arrangements between Australia and the U.S. During fiscal year 2023, a framework was agreed upon to finalize the Company’s transfer pricing arrangements for the proposed APA period (tax years ended June 30, 2019 to June 30, 2025). It is reasonably possible that uncertain tax benefits could decrease by up to $53.7 million in the next twelve months due to anticipated resolutions with ATO of APA negotiations. While the Company’s recorded tax reserves are the best estimate of its liabilities, differences may occur in the future, depending on final resolution of the APA negotiations.

In addition to the Australian APA, the Company believes it is reasonably possible the balance of unrecognized tax benefits could change in the next 12 months due to the completion of ongoing income tax audits. The estimated range of the change is a decrease of $1.5 million to an increase of $9.3 million.

The Company has recognized interest and penalties related to unrecognized tax benefits in the income tax provision of approximately $5.8 million during fiscal year 2023, and the accrual balances were $5.8 million as of June 30, 2023. The Company had not recognized any interest and penalties related to unrecognized tax benefits during fiscal years 2022 and 2021.

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Pay vs Performance Disclosure
Net loss	$ (486,761)	$ (519,510)	$ (578,979)

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

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Principles of Consolidation

Insider Trading Arrangements	3 Months Ended	12 Months Ended
Insider Trading Arrangements	Jun. 30, 2023 shares	Jun. 30, 2023 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
Cameron Deatsch [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On May 30, 2023, Cameron Deatsch, the Company’s Chief Revenue 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 28,087 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 51,371 outstanding RSUs, net of shares sold to cover tax withholding obligations in connection with the vesting and settlement of such RSUs and (iii) up to 80% 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 until August 31, 2024.
Name		Cameron Deatsch
Title		Chief Revenue Officer
Rule 10b5-1 Arrangement Adopted		true
Adoption Date		May 30, 2023
Arrangement Duration	459 days
Heather M. Fernandez [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On May 31, 2023, Heather M. Fernandez, a member of the Company’s board of directors, 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 6,000 shares of the Company’s Class A Common Stock until August 31, 2024.
Name		Heather M. Fernandez
Title		member of the Company’s board of directors
Rule 10b5-1 Arrangement Adopted		true
Adoption Date		May 31, 2023
Arrangement Duration	458 days
Cameron Deatsch Trading Arrangement, Common Stock [Member] \| Cameron Deatsch [Member]
Trading Arrangements, by Individual
Aggregate Available	28,087	28,087
Cameron Deatsch Trading Arrangement, Restricted Stock Units (RSU) [Member] \| Cameron Deatsch [Member]
Trading Arrangements, by Individual
Aggregate Available	51,371	51,371
Heather M. Fernandez Trading Arrangement, Class A Common Stock [Member] \| Heather M. Fernandez [Member]
Trading Arrangements, by Individual
Aggregate Available	6,000	6,000

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Jun. 30, 2023

Accounting Policies [Abstract]

Basis of Preparation

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

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

Use of Estimates

The preparation of the consolidated financial statements in conformity with GAAP requires management to make certain estimates and assumptions in the Company’s consolidated financial statements. These estimates are based on information available as of the date of the consolidated financial statements. On a regular basis, management evaluates these estimates and assumptions. Such management estimates and assumptions include, but are not limited to, the standalone selling price (“SSP”) of performance obligations for revenue contracts with multiple performance obligations; useful lives and impairment of long-lived assets, valuation of intangible assets, fair value measurement of financial instruments and income taxes. Actual results could differ materially from these estimates.

Segment

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

Foreign Currency

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

Revenue Recognition

Policies, Estimates and Judgments

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

Revenues are recognized upon the application of the following steps:

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

2.Identification of the performance obligations in the contract;

3.Determination of the transaction price;

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

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

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

Customer contracts often include promises to transfer multiple products and services to a customer. Determining whether products and services are considered distinct performance obligations that should be accounted for separately versus together may require judgment.

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

Products are generally sold with a right of return and may include other credits or incentives, and, in certain instances, the Company may estimate customer usage of its services, which are accounted for as variable consideration when determining the amount of revenue to recognize. Returns and credits are estimated at contract inception and updated at the end of each reporting period if additional information becomes available. Variable consideration was not material for the periods presented.

Revenue recognized from contracts with customers is disaggregated into categories that depict how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors. The Company reports revenues in three categories: (i) subscription, (ii) maintenance, and (iii) other. In addition, revenue is presented by geographic region and deployment option in Note 14, “Revenue.”

Subscription Revenues

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

Maintenance Revenues

Maintenance revenues represent fees earned from providing customers with unspecified future updates, upgrades and enhancements and technical product support for perpetual license products on an if-and-when-available basis. Maintenance revenue is recognized ratably over the term of the support period.

Other Revenues

Other revenues primarily include perpetual license revenue and fees received for sales of third-party apps in the Atlassian Marketplace. Technical account management, consulting and training services are also included in other revenues. Perpetual license revenues represent fees earned from the license of software to customers for use on the customer’s premises other than data center products. Software is licensed on a perpetual basis. Perpetual license revenues consist of the revenues recognized from sales of licenses to customers. The Company no longer sells perpetual licenses or upgrades for our Server offerings. The Company typically recognized revenue on the license portion of perpetual license arrangements once the customer obtained control of the license, which is generally upon delivery of the license. Revenue from the sale of third-party apps via Atlassian Marketplace is recognized on the date of product delivery given that all of our obligations have been met at that time and on a net basis the Company functions as the agent in the relationship. Revenue from technical account management is recognized over the time period that the customer has access to the service. Revenue from consulting and training is recognized over time as the services are performed.

Deferred Contract Acquisition Costs

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

The Company determines the period of benefit for commissions paid for the acquisition of the initial customer contract by taking into consideration the initial estimated customer life and the technological life of our unified communications platform and related significant features. The Company includes the deferred contract costs in prepaid expense and other current assets and other non-current assets on the consolidated balance sheets and amortization of deferred contract acquisition costs in marketing and sales expense in the consolidated statements of operations.

Cash Cash Equivalents and Restricted Cash

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

Accounts Receivable, net

The Company records trade accounts receivable at the invoice value, and such receivables are non-interest bearing. The Company considers receivables past due based on the contractual payment terms. The Company makes estimates of expected credit and collectability trends based on an assessment of various factors including historical credit loss experience, adjusted for forward-looking factors specific to the debtors and the economic environment that may affect our ability to collect from customers.

Fair Value Measurements

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

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

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

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

Marketable Securities

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

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

Strategic Investments

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

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

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

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

Equity Method Investments

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

Variable Interest Entities

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

Exchangeable Senior Notes

In 2018, the Company, through its subsidiary Atlassian US, Inc., issued exchangeable senior notes due May 1, 2023 (the “Notes”), which were classified as financial liabilities at amortized cost and measured using the effective interest rate (“EIR”) method. Amortized cost was calculated by taking into account any discount and issuance cost that were an integral part of the EIR. The EIR amortization was included as interest expense in the consolidated statements of operations. In connection with the issuance of the Notes, the Company entered into privately negotiated capped call transactions (the “Capped Calls”) with certain financial institutions. The Capped Call transactions were scheduled to expire in May 2023 and were required to be settled in cash. As of June 30, 2022 the Notes and Capped Calls had been fully settled and are no longer outstanding. Refer to Note 12, “Debt” for further details of the transaction.

Derivative Financial Instruments

The Company enters into foreign exchange forward contracts with the objective to mitigate certain currency risks associated with cost of revenues and operating expenses denominated in foreign currencies. These foreign exchange forward contracts are designated as cash flow hedges. The Company also enters into foreign exchange forward contracts to hedge a portion of certain foreign currency denominated as monetary assets and liabilities to reduce the risk that such foreign currency will be adversely affected by changes in exchange rates. The Company

uses interest rate swaps to hedge the variability of cash flows in the interest payments associated with its variable-rate debt due to changes in the Secured Overnight Financing Rate (“SOFR”) based floating interest rate. The interest rate swaps are designated as cash flow hedges and involve interest obligations for U.S. dollar-denominated amounts. The Company does not enter into derivative instrument transactions for trading or speculative purposes.

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

The Company had other derivatives, such as the embedded exchange feature of the Notes and Capped Calls. Please see Note 12, “Debt” for details. The Notes and Capped Calls were measured at fair value at each reporting date, and gains (losses) from changes in fair values were recognized in other income (expense), net in the consolidated statements of operations. The Company used the Black-Scholes option pricing models to estimate the fair value of the exchange feature of the Notes. Certain inputs used in the model such as stock price volatility requires judgment. The fair value of the Capped Calls was obtained from counterparty banks.

Property and Equipment

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


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

Leases

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

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

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

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

Assets Held for Sale

The Company classifies assets as held for sale when all of the following are met: (i) management has committed to a plan to sell the assets; (ii) the assets are available for immediate sale in their present condition; (iii) an active program to locate a buyer has been initiated; (iv) it is probable that a sale will occur within one year; (v) the assets are being actively marketed for sale at a price that is reasonable in relation to their current fair value; and (vi) it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn. If all held for sale criteria are met, the assets are reclassified and presented separately in the consolidated balance sheets as assets held for sale at the lower of the carrying value or the fair value, less cost to sell, and no longer depreciated or amortized.

Business Combinations

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

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

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

Intangible Assets

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

Impairment of Long-Lived Assets

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

Goodwill

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

Goodwill is tested for impairment at least annually during the fourth quarter of the Company’s fiscal year and more often if and when circumstances indicate that the carrying value may be impaired. The Company’s reporting unit is at the operating segment level. The Company performs its goodwill impairment test at the level of its operating segment, as there are no levels below the operating segment level for which discrete financial information

is prepared and regularly reviewed by the Company’s CODMs. A qualitative assessment is performed to determine whether it is more likely than not that the fair value of its operating segment is less than it’s carrying amount. If the operating segment does not pass the qualitative assessment, the carrying amount of the operating segment, including goodwill, is compared to fair value and goodwill is considered impaired if the carrying value exceeds its fair value. Any excess is recognized as an impairment loss in current period earnings.

Stock-based Compensation

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

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

In connection with certain business combinations, the Company also issues replacement awards in exchange for awards held by employees of the acquiree. The Company recognizes the portion of the acquiree award that is attributable to pre-combination service as purchase consideration. The portion of the replacement award attributable to post-combination service is recognized as compensation expense over the awards’ requisite service period and classified in the consolidated statements of operations according to the activities that the employees perform.

Defined Contribution Plan

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

Advertising Costs

Advertising costs are expensed as incurred as a component of marketing and sales expense in the consolidated statements of operations. Advertising expense was $89.5 million, $90.3 million and $71.0 million for fiscal years 2023, 2022, and 2021, respectively.

Research and Development

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

Concentration of Credit Risk and Significant Customers

Financial instruments potentially exposing the Company to credit risk consist primarily of cash, cash equivalents, accounts receivable, derivative contracts and investments. The Company holds cash at financial institutions that management believes are high credit, quality financial institutions and invests in investment grade securities rated A- and above and debt securities. The Company’s derivative contracts expose it to credit risk to the extent that the counterparties may be unable to meet the terms of the arrangement. The Company enters into master netting agreements with select financial institutions to reduce its credit risk and trades with several counterparties to reduce its concentration risk with any single counterparty. The Company does not have significant exposure to counterparty credit risk at this time. In addition, the Company does not require nor is required to post collateral of any kind related to any foreign currency derivatives.Credit risk arising from accounts receivable is mitigated to a certain extent due to our large number of customers and their dispersion across various industries and geographies. The Company’s customer base is highly diversified, thereby limiting credit risk. The Company manages credit risk with customers by closely monitoring its receivables and contract assets. The Company continuously monitors outstanding receivables locally to assess whether there is objective evidence that outstanding accounts receivables and contract assets are credit-impaired.

Income Taxes

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

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

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

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

New Accounting Standards Not Yet Adopted And Recently Adopted Accounting Pronouncements

New Accounting Standards Not Yet Adopted in Fiscal Year 2023

In June 2022, the FASB issued Accounting Standards Update (“ASU”) No. 2022-03, "Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions." The ASU amends ASC 820: Fair value measurement, to clarify that a contractual sales restriction is not considered in measuring an equity security at fair value and to introduce new disclosure requirements for equity securities subject to contractual sale restrictions that are measured at fair value. The amendments in this ASU are effective for the Company in fiscal years beginning after December 15, 2023, and interim periods within those fiscal years. Early adoption is permitted for both interim and annual financial statements that have not yet been issued or made available for issuance. The Company is still evaluating the impact of this pronouncement on the consolidated financial statements.

Recently Adopted Accounting Pronouncements

In October 2021, the FASB issued ASU No. 2021-08, “Business Combinations: Accounting for Contract Assets and Contract Liabilities from Contracts with Customers (Topic 805)”. The amendments in this ASU require that an acquirer recognizes and measures contract assets and contract liabilities acquired in a business combination in accordance with Topic 606. This ASU is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years and should be applied prospectively to business combinations occurring on or after the effective date of the amendments. Early adoption is permitted. The Company adopted this standard during the fourth quarter of fiscal year 2023. The adoption of this new standard did not have a material impact on the Company’s consolidated financial statements.

In August 2020, the FASB issued ASU 2020-06, “Debt–Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging–Contracts in Entity’s Own Equity (Subtopic 815-40)” to simplify the accounting for convertible instruments and contracts on an entity’s own equity. The Company adopted this standard effective July 1, 2022 using a modified retrospective method. The adoption of this new standard did not have a material impact on the Company’s consolidated financial statements.

In March 2020, the FASB issued ASU No. 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting.” This ASU is elective and provides relief to all entities, subject to meeting certain criteria, that have contracts, hedging relationships, and other transactions that reference London Interbank Offered Rate (“LIBOR”) or another reference rate expected to be discontinued because of reference rate reform. Optional expedients are provided for contract modification accounting under topics such as debt, leases, and derivatives. The optional amendments were to be effective for all entities as of any date from the beginning of an interim period that includes or is subsequent to March 12, 2020 through December 31, 2022. In December 2022, the FASB issued ASU No. 2022-06, “Deferral of the Sunset Date of Topic 848,” which deferred the sunset date of Topic 848 from December 31, 2022 to December 31, 2024 to align with the amended cessation date of LIBOR which was delayed to June 30, 2023. The Company adopted this ASU during the fourth quarter of fiscal year 2023 and elected to apply the practical expedient which allows us to account for the modification of the Credit Facility as if the modification was not substantial. The Company has also elected the practical expedient to assume that the forecasted transaction in a cash flow hedge is probable of occurring and the practical expedient to continue to apply hedge accounting without dedesignating the interest rate swap. The adoption of this accounting standard did not have a material impact on the Company’s consolidated financial statements.

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Jun. 30, 2023

Accounting Policies [Abstract]

Schedule of Estimated Useful Lives

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


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

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


	As of June 30,
	2023		2022
Equipment	$	9,298	$	9,140
Computer Hardware and Software	29,801		18,324
Furniture and Fittings	24,773		25,157
Leasehold Improvements and Other	123,125		124,758

Property and equipment, gross	186,997		177,379
Less: accumulated depreciation and impairment	(105,595)		(76,717)
Property and equipment, net	$	81,402	$	100,662

Schedule of Estimated Useful Lives for Intangible Assets

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


Patents, trademarks and other rights			5 - 12 years
Customer relationships			5 - 10 years
Acquired developed technology			4 - 6 years

Intangible assets consisted of the following (in thousands):


	As of June 30,				Weighted-Average Remaining Useful Lives (Years)
	2023		2022
Acquired Developed Technology	$	235,818	$	234,618	2
Patents, Trademarks, and Other Rights	33,393		33,393		5
Customer Relationships	129,502		129,502		5
Intangible assets, gross	398,713		397,513
Less: accumulated amortization	(329,641)		(296,673)
Intangible assets, net	$	69,072	$	100,840

Fair Value Measurements (Tables)

12 Months Ended

Jun. 30, 2023

Fair Value Disclosures [Abstract]

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

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


	Level 1		Level 2		Total

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





Marketable securities:


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




Derivative financial instruments	—		64,210		64,210





Strategic investments:

Publicly traded equity securities	19,365		—		19,365



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

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



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

The following table presents the Company’s financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2022, by level within the fair value hierarchy (in thousands):


	Level 1		Level 2		Total
Assets measured at fair value
Cash and cash equivalents:
Money market funds	$	555,247	$	—	$	555,247






Marketable securities:
U.S. treasury securities	—		70,294		70,294

Certificates of deposit and time deposits	—		3,000		3,000




Derivative financial instruments	—		44,052		44,052





Strategic investments:

Publicly traded equity securities	30,801		—		30,801


Total assets measured at fair value	$	586,048	$	117,346	$	703,394

Liabilities measured at fair value
Derivative financial instruments	$	—	$	24,100	$	24,100






Total liabilities measured at fair value	$	—	$	24,100	$	24,100

Investments (Tables)

12 Months Ended

Jun. 30, 2023

Investments, Debt and Equity Securities [Abstract]

Schedule of Available-for-Sale Securities Reconciliation

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


	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value



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




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

The Company’s investments of marketable securities as of June 30, 2022, consisted of the following (in thousands):


	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value

U.S. treasury securities	$	70,947	$	—	$	(653)	$	70,294

Certificates of deposit and time deposits	3,000		—		—		3,000





Total marketable securities	$	73,947	$	—	$	(653)	$	73,294

Investments Classified by Contractual Maturity Date

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


	June 30, 2023		June 30, 2022
Due in one year or less	$	10,000	$	73,294

Schedule of Strategic Investments

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


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

The Company’s investments of privately held debt securities as of June 30, 2022, consisted of the following (in thousands):


	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
Privately held debt securities	$	5,486	$	—	$	(4,218)	$	1,268

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


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

The carrying values for publicly traded and privately held equity securities as of June 30, 2022 are summarized below (in thousands):


	Publicly traded equity securities		Privately held equity securities		Total
Initial total cost	$	10,270	$	120,300	$	130,570
Cumulative net gain	20,531		6,695		$	27,226
Carrying value	$	30,801	$	126,995	$	157,796

Unrealized Gain (Loss) on Investments

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


	Fiscal Year Ended June 30,
	2023		2022		2021
Unrealized gains (losses) recognized on publicly traded equity securities	$	(11,437)	$	(79,608)	$	34,290
Unrealized gains recognized on privately held equity securities	307		6,945		—
Unrealized losses recognized on privately held equity securities including impairment	(7,642)		—		(250)
Unrealized losses on privately held debt securities	(350)		—		—
Unrealized gains (losses), net	$	(19,122)	$	(72,663)	$	34,040
Realized gains recognized on publicly traded equity securities	—		—		14,040
Realized losses on debt securities	(285)		—		—
Gains (losses) on strategic investments, net	$	(19,407)	$	(72,663)	$	48,080
Unrealized gains (losses) recognized during the reporting period on privately held equity securities still held at the reporting date	$	(6,986)	$	6,945	$	(250)

Equity Method Investments

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


	Equity Method Investment
Balance as of July 20, 2022	$	88,853
Effect of change in exchange rates	(3,417)
Balance as of June 30, 2023	$	85,436

Derivative Contracts (Tables)

12 Months Ended

Jun. 30, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Notional Amounts of Outstanding Derivative Positions

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


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

The following table sets forth the notional amounts of the Company’s hedging derivative instruments as of June 30, 2022 (in thousands, except for average interest rate):


	Notional Amounts of Derivative Instruments
	Notional Amount by Term to Maturity								Classification by Notional Amount
	Under 12 months		Over 12 months			Total			Cash Flow Hedge			Non Hedge		Total
Forward contracts	$	612,523	$	37,015		$	649,538		$	401,534		$	248,004	$	649,538
Interest rate swaps:
Notional amount	$	—	$	650,000		$	650,000		$	650,000		$	—	$	650,000
Average interest rate			0.81		%	0.81		%	0.81		%			0.81		%

Schedule of Fair Value of Derivative Instruments

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


		As of June 30,
	Balance Sheet Location	2023		2022
Derivative assets
Derivatives designated as hedging instruments:
Foreign exchange forward contracts	Prepaid expenses and other current assets	$	3,177	$	—

Interest rate swaps	Prepaid expenses and other current assets	28,926		13,296
Interest rate swaps	Other non-current assets	28,215		30,367
Derivatives not designated as hedging instruments:
Foreign exchange forward contracts	Prepaid expenses and other current assets	3,892		389
Total derivative assets		$	64,210	$	44,052

Derivative liabilities
Derivatives designated as hedging instruments:
Foreign exchange forward contracts	Accrued expenses and other current liabilities	$	9,657	$	18,208
Foreign exchange forward contracts	Other non-current liabilities	209		812
Derivatives not designated as hedging instruments:
Foreign exchange forward contracts	Accrued expenses and other current liabilities	248		5,080
Total derivative liabilities		$	10,114	$	24,100

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

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



	Fiscal Year Ended June 30,
	2023		2022		2021

Beginning balance of accumulated gains (losses) in accumulated other comprehensive income	$	24,502	$	(2,936)	$	13,072
Gross unrealized gains recognized in other comprehensive income	17,952		11,421		19,069
Net (gains) losses reclassified from cash flow hedge in accumulated other comprehensive income into profit or loss:
Recognized in cost of revenues	1,831		525		(1,326)
Recognized in research and development	16,890		10,513		(28,490)
Recognized in marketing and sales	1,337		220		(400)
Recognized in general and administrative	5,563		1,606		(4,861)
Recognized in interest	(19,905)		3,153		—
Ending balance of accumulated gains (losses) in accumulated other comprehensive income	$	48,170	$	24,502	$	(2,936)

Assets Held For Sale (Tables)

12 Months Ended

Jun. 30, 2023

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Major Assets Classified as Held for Sale

The major assets classified as held for sale as of June 30, 2023 and 2022 were as follows (in thousands):


	As of June 30,
	2023		2022
Cash and cash equivalents	$	—	$	2,701
Property and equipment, net	$	—	$	57,482

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

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Property, Plant and Equipment [Abstract]

Property and Equipment (Tables)

12 Months Ended

Jun. 30, 2023

Property and Equipment, Net

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


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

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


	As of June 30,
	2023		2022
Equipment	$	9,298	$	9,140
Computer Hardware and Software	29,801		18,324
Furniture and Fittings	24,773		25,157
Leasehold Improvements and Other	123,125		124,758

Property and equipment, gross	186,997		177,379
Less: accumulated depreciation and impairment	(105,595)		(76,717)
Property and equipment, net	$	81,402	$	100,662

Goodwill and Intangible Assets (Tables)

12 Months Ended

Jun. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

Goodwill consisted of the following (in thousands):


	Goodwill
Balance as of June 30, 2021	$	715,929
Additions	9,361
Effect of change in exchange rates	(2,452)
Balance as of June 30, 2022	722,838
Additions	3,300
Effect of change in exchange rates	1,073
Balance as of June 30, 2023	$	727,211

During fiscal years 2023 and 2022 the Company completed acquisitions primarily to expand our product and service offerings. The transactions were accounted for as business combinations and were not significant to our consolidated financial statements.

Schedule of Finite-Lived Intangible Assets

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


Patents, trademarks and other rights			5 - 12 years
Customer relationships			5 - 10 years
Acquired developed technology			4 - 6 years

Intangible assets consisted of the following (in thousands):


	As of June 30,				Weighted-Average Remaining Useful Lives (Years)
	2023		2022
Acquired Developed Technology	$	235,818	$	234,618	2
Patents, Trademarks, and Other Rights	33,393		33,393		5
Customer Relationships	129,502		129,502		5
Intangible assets, gross	398,713		397,513
Less: accumulated amortization	(329,641)		(296,673)
Intangible assets, net	$	69,072	$	100,840

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

The following table presents the estimated future amortization expense related to intangible assets held as of June 30, 2023 (in thousands):


Fiscal Years:
2024	$	26,229
2025	15,208
2026	12,670
2027	7,839
Thereafter	7,126
Total future amortization expense	$	69,072

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

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-URI https://asc.fasb.org//1943274/2147482573/350-20-50-2

Other Liabilities Disclosure [Abstract]

Accrued Expenses and Other Current Liabilities (Tables)

12 Months Ended

Jun. 30, 2023

Accrued Expenses and Other Current Liabilities

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


	As of June 30,
	2023		2022
Accrued expenses	$	107,479	$	123,381
Employee benefits	191,801		197,701
Tax liabilities	88,748		26,367
Customer deposits	11,784		9,718
Derivative liabilities	9,905		23,288
Liabilities held for sale	—		17,564
Other payables	13,414		8,120
Total accrued expenses and other liabilities	$	423,131	$	406,139

Leases (Tables)

12 Months Ended

Jun. 30, 2023

Leases [Abstract]

Lease, Cost

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


	Fiscal Year Ended June 30,
	2023			2022			2021
Operating lease costs	$	50,134		$	49,647		$	43,199
Variable lease costs	13,094			12,077			13,604
Total lease costs	$	63,228		$	61,724		$	56,803

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

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


	Fiscal Year Ended June 30,
	2023		2022		2021
Cash payments for operating leases	$	41,493	$	49,142	$	44,874
Right-of-use assets obtained in exchange for new operating lease liabilities	$	3,580	$	105,961	$	27,042

Lessee, Operating Lease, Liability, Maturity

Future lease payments under non-cancelable operating leases with initial lease terms in excess of one year included in the Company’s lease liabilities as of June 30, 2023 were as follows (in thousands):


Fiscal years:	Operating Lease Payments
2024	$	51,479
2025	49,078
2026	42,306
2027	37,534
2028	38,601
Thereafter	90,870
Total future operating lease payments	309,868
Less: imputed interest	(27,103)

Total lease liability balance (1)	$	282,765

(1) Lease liabilities include those operating leases that we plan to sublease as a part of our facilities consolidation restructuring efforts. For additional information, see Note 15, “Restructuring.”

Commitment and Contingencies (Tables)

12 Months Ended

Jun. 30, 2023

Commitments and Contingencies Disclosure [Abstract]

Contractual Commitments

The following table sets forth contractual commitments as of June 30, 2023 and 2022 (in thousands):


	Fiscal Year Ended June 30,
	2023		2022
Contractual purchase obligations	$	1,788,740	$	152,935
Obligations for leases that have not yet commenced	919,333		956,118
Total purchase obligation	$	2,708,073	$	1,109,053

Contractual Obligation, Fiscal Year Maturity

Maturities of purchase obligations as of June 30, 2023 were as follows (in thousands):


	Other contractual commitments		Leases not commenced		Total
Fiscal Year:
2024	$	364,326	$	—	$	364,326
2025	406,108		—		406,108
2026	458,234		—		458,234
2027	419,572		34,434		454,006
2028	140,500		47,290		187,790
Thereafter	—		837,609		837,609
Total commitments	$	1,788,740	$	919,333	$	2,708,073

Restructuring (Tables)

12 Months Ended

Jun. 30, 2023

Restructuring and Related Activities [Abstract]

Summary of Restructuring Charges

A summary of our restructuring charges for fiscal year 2023 by major activity type is as follows (in thousands):


	Severance and Other Termination Benefits		Stock-based Compensation		Lease Consolidation		Total
Cost of revenue	$	1,011	$	288	$	7,893	$	9,192
Research and development	8,279		5,866		29,004		43,149
Marketing and sales	7,069		1,815		14,984		23,868
General and administrative	8,961		2,306		9,418		20,685
Total	$	25,320	$	10,275	$	61,299	$	96,894

Summary 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 consolidated balance sheets, related to the restructuring charges (in thousands):


	Severance and Other Termination Benefits		Stock-based Compensation		Lease Consolidation		Total
Charges	$	25,320	$	10,275	$	61,299	$	96,894
Payments	(22,481)		—		(201)		(22,682)
Non-cash items	(633)		(10,275)		(61,098)		(72,006)
Liability as of June 30, 2023	$	2,206	$	—	$	—	$	2,206

Revenue (Tables)

12 Months Ended

Jun. 30, 2023

Revenue from Contract with Customer [Abstract]

Revenue from External Customers by Geographic Areas

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


	Fiscal Year Ended June 30,
	2023		2022		2021
Americas
United States	$	1,537,328	$	1,230,801	$	901,389
Other Americas	227,838		178,067		127,092
Total Americas	$	1,765,166	$	1,408,868	$	1,028,481
EMEA	1,366,739		1,077,338		826,445
Asia Pacific	402,742		316,676		234,206
Total revenues	$	3,534,647	$	2,802,882	$	2,089,132

Revenue from External Customers by Products and Services

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


	Fiscal Year Ended June 30,
	2023		2022		2021
Cloud	$	2,085,498	$	1,515,424	$	967,832
Data Center	819,251		560,319		336,273
Server	400,519		525,028		607,778
Marketplace and services	229,379		202,111		177,249
Total revenues	$	3,534,647	$	2,802,882	$	2,089,132

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

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


	Fiscal Year Ended June 30,
	2023		2022
Balance, beginning of period	$	1,182,680	$	897,595
Additions	3,897,446		3,087,967
Revenue	(3,534,647)		(2,802,882)
Balance, end of period	$	1,545,479	$	1,182,680

Capitalized Contract Cost

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


	Fiscal Year Ended June 30,
	2023		2022
Balance, beginning of period	$	27,141	$	9,011
Additions	40,060		24,302
Amortization expense	(13,597)		(6,172)
Balance, end of period	$	53,604	$	27,141
Deferred contract acquisition costs included in:
Prepaid expenses and other current assets	$	18,027	$	8,806
Other non-current assets	35,577		18,335
Total	$	53,604	$	27,141

Geographic Information (Tables)

12 Months Ended

Jun. 30, 2023

Segment Reporting [Abstract]

Long-Lived Assets by Geographic Areas

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


	As of June 30,
	2023		2022

United States	$	213,567	$	295,577
Australia	37,891		67,241
All other countries	14,139		15,120
Total long-lived assets	$	265,597	$	377,938

Stockholder's Equity (Tables)

12 Months Ended

Jun. 30, 2023

Equity [Abstract]

Schedule of Unvested Restricted Stock Units Roll Forward

A summary of RSU activity for fiscal year 2023 is as follows (in thousands except share and per share data):


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












Balance as of June 30, 2022	6,023,997	$	257.62	$	1,128,897
Granted	8,315,466	221.87
Vested	(3,604,960)	236.90		$	617,018
Forfeited or cancelled	(1,171,585)	239.09
Balance as of June 30, 2023	9,562,918	$	235.16	$	1,604,753

Net Loss Per Share (Tables)

12 Months Ended

Jun. 30, 2023

Earnings Per Share [Abstract]

Schedule of Basic and Diluted Net Loss Per Share

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


	Fiscal Year Ended June 30,
	2023				2022				2021
	Class A		Class B		Class A		Class B		Class A		Class B
Numerator:
Net Loss	$	(283,907)	$	(202,854)	$	(290,290)	$	(229,220)	$	(308,953)	$	(270,026)
Denominator:
Weighted-average shares outstanding, basic and diluted	149,493		106,814		141,545		111,767		133,233		116,446
Net loss per share, basic and diluted	$	(1.90)	$	(1.90)	$	(2.05)	$	(2.05)	$	(2.32)	$	(2.32)

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share


	Fiscal Year Ended June 30,
	2023	2022	2021
Class A Common Stock options	—	1	63
Class A Common Stock RSU awards	7,426	3,736	3,480
Class A Common Stock restricted stock awards	17	82	178
Total potentially dilutive securities	7,443	3,819	3,721

Income Taxes (Tables)

12 Months Ended

Jun. 30, 2023

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

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


	Fiscal Year Ended June 30,
	2023		2022		2021
Domestic	$	(25,250)	$	(480,982)	$	(603,257)
Foreign	(285,886)		10,044		88,842
Total	$	(311,136)	$	(470,938)	$	(514,415)

Schedule of Components of Income Tax Expense (Benefit)

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


	Fiscal Year Ended June 30,
	2023		2022		2021
Current:
Federal	$	4,327	$	280	$	155
State	1,045		570		367
Foreign	162,072		51,040		73,017
Total	167,444		51,890		73,539
Deferred:
Federal	1,467		(44)		(777)
State	(1,066)		(1,641)		(1,053)
Foreign	7,780		(1,633)		(7,145)
Total	8,181		(3,318)		(8,975)
Total provision for income taxes	$	175,625	$	48,572	$	64,564

Schedule of Effective Income Tax Rate Reconciliation

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


	Fiscal Year Ended June 30,
	2023			2022			2021
Tax at federal statutory rate	$	(65,339)		$	(98,897)		$	(108,027)
State, net of the federal benefit	13,042			13,363			9,144
Effects of non-U.S. operations	15,163			(6,879)			5,436
Tax credits	(99,398)			(107,956)			(73,280)
Stock-based compensation	80,471			(41,692)			(69,276)
Non-deductible executive compensation	6,022			13,580			6,552
Non-deductible charges relating to the Notes	—			89,188			131,769
Intellectual property transfer	—			—			5,460
Australian R&D deductions forgone in lieu of R&D credit	30,303			32,661			22,404
Foreign taxes	2,457			4,491			1,052
Basis difference in investments	(43,564)			(36,853)			(13,789)
Change in reserves	132,528			14,179			10,091
Change in valuation allowance	98,613			172,033			136,284
Other	5,327			1,354			744
Provision for income taxes	$	175,625		$	48,572		$	64,564
Effective Tax Rate (%)	(56)		%	(10)		%	(13)		%

Schedule of Deferred Tax Assets and Liabilities

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


	As of June 30,
	2023		2022
Deferred tax assets:
Property and equipment	$	5,528	$	8,531
Net operating loss carryforwards	857,944		1,013,750
Credit carryforwards	183,520		154,487
Operating lease liabilities	64,774		74,269
Basis differences in investments	1,690,440		1,601,047
Stock-based compensation	7,246		(33,095)
Provisions, accruals and prepayments	36,255		38,763
Deferred revenue	208,541		146,044
Capitalized research and development	28,330		—
IRC 163(j) carryforward	84		27,032
Intangible assets	641		(3,210)
Total deferred tax assets	$	3,083,303	$	3,027,618
Less valuation allowance	(3,019,080)		(2,941,191)
Total deferred tax assets, net of valuation allowance	$	64,223	$	86,427

Deferred tax liabilities:
Unrealized foreign currency exchange losses	$	3,087	$	1,338
Unrealized investment gains	11,684		9,373
Operating right of use assets	48,119		69,166
Other, net	2,057		(3,473)
Total deferred tax liabilities	$	64,947	$	76,404
Net deferred tax assets (liabilities)	$	(724)	$	10,023

Schedule of Unrecognized Tax Benefits

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


	Fiscal Year Ended June 30,
	2023		2022		2021
Beginning of the period	$	53,483	$	37,944	$	26,841
Tax positions taken in prior period:
Gross increases	112,781		1,031		147
Gross decreases	(198)		—		(56)
Tax positions taken in current period:
Gross increases	15,171		14,542		11,044
Settlements	(57,004)		—		—
Lapse of statute of limitations	(32)		(34)		(32)
Currency translation effect	(1,899)		—		—
End of period	$	122,302	$	53,483	$	37,944

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

Summary of Significant Accounting Policies - Additional Information (Details) $ in Thousands	12 Months Ended
	Jun. 30, 2023 USD ($) revenue_category	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)
Product Information [Line Items]
Number of revenue categories \| revenue_category	3
Average period of benefit	4 years
Restricted cash included in other non-current assets	$ 1,365	$ 1,421	$ 11,796
Defined contribution plan expense	78,200	58,700	41,500
Advertising expense	$ 89,500	$ 90,300	$ 71,000
Minimum
Product Information [Line Items]
Subscription-based arrangements, contractual term	1 month
Maximum
Product Information [Line Items]
Subscription-based arrangements, contractual term	12 months

Summary of Significant Accounting Policies - Property and Equipment, Estimated Useful Lives (Details)	Jun. 30, 2023
Equipment
Property, Plant and Equipment [Line Items]
Estimated useful lives	3 years
Computer hardware and computer-related software
Property, Plant and Equipment [Line Items]
Estimated useful lives	3 years
Furniture and Fittings
Property, Plant and Equipment [Line Items]
Estimated useful lives	5 years
Leasehold improvements
Property, Plant and Equipment [Line Items]
Estimated useful lives	7 years

Summary of Significant Accounting Policies - Estimated Useful Lives for Intangible Asset Classes (Details)	Jun. 30, 2023
Minimum \| Patents, trademarks and other rights
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Remaining Useful Lives (Years)	5 years
Minimum \| Customer relationships
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Remaining Useful Lives (Years)	5 years
Minimum \| Acquired developed technology
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Remaining Useful Lives (Years)	4 years
Maximum \| Patents, trademarks and other rights
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Remaining Useful Lives (Years)	12 years
Maximum \| Customer relationships
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Remaining Useful Lives (Years)	10 years
Maximum \| Acquired developed technology
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Remaining Useful Lives (Years)	6 years

Conversion from IFRS to U.S. GAAP (Details) $ in Millions	Jun. 30, 2018 USD ($)
Embedded Derivative Financial Instruments
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Derivative liability	$ 177.9
Exchangeable Senior Notes Maturing May 1 2023 \| Senior Notes
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Aggregate principal amount	$ 1,000.0

Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes liabilities not subject to a master netting arrangement and not elected to be offset.

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Fair Value Measurements - Financial assets and liabilities measured at fair value (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022
Assets measured at fair value
Derivative Asset, Current, Statement of Financial Position [Extensible Enumeration]	Prepaid expenses and other current assets	Prepaid expenses and other current assets
Liabilities measured at fair value
Derivative liabilities	$ 9,905	$ 23,288
Certificates of deposit and time deposits
Assets measured at fair value
Fair Value	10,000	3,000
U.S. treasury securities
Assets measured at fair value
Fair Value		70,294
Fair Value, Recurring
Assets measured at fair value
Current derivative assets	64,210	44,052
Marketable equity securities	19,365	30,801
Total assets measured at fair value	1,432,084	703,394
Liabilities measured at fair value
Derivative liabilities	10,114	24,100
Total liabilities measured at fair value	10,114	24,100
Fair Value, Recurring \| Certificates of deposit and time deposits
Assets measured at fair value
Fair Value	10,000	3,000
Fair Value, Recurring \| U.S. treasury securities
Assets measured at fair value
Fair Value		70,294
Level 1 \| Fair Value, Recurring
Assets measured at fair value
Current derivative assets	0	0
Marketable equity securities	19,365	30,801
Total assets measured at fair value	1,357,874	586,048
Liabilities measured at fair value
Derivative liabilities	0	0
Total liabilities measured at fair value	0	0
Level 1 \| Fair Value, Recurring \| Certificates of deposit and time deposits
Assets measured at fair value
Fair Value	0	0
Level 1 \| Fair Value, Recurring \| U.S. treasury securities
Assets measured at fair value
Fair Value		0
Level 2 \| Fair Value, Recurring
Assets measured at fair value
Current derivative assets	64,210	44,052
Marketable equity securities	0	0
Total assets measured at fair value	74,210	117,346
Liabilities measured at fair value
Derivative liabilities	10,114	24,100
Total liabilities measured at fair value	10,114	24,100
Level 2 \| Fair Value, Recurring \| Certificates of deposit and time deposits
Assets measured at fair value
Fair Value	10,000	3,000
Level 2 \| Fair Value, Recurring \| U.S. treasury securities
Assets measured at fair value
Fair Value		70,294
Money market funds \| Fair Value, Recurring
Assets measured at fair value
Cash and cash equivalents	1,338,509	555,247
Money market funds \| Level 1 \| Fair Value, Recurring
Assets measured at fair value
Cash and cash equivalents	1,338,509	555,247
Money market funds \| Level 2 \| Fair Value, Recurring
Assets measured at fair value
Cash and cash equivalents	$ 0	$ 0

Fair Value Measurements - Additional Information (Details) - USD ($) $ in Millions	Jun. 30, 2023	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Equity securities without readily determinable fair value and other investments	$ 140.1	$ 128.3

Investments - Schedule of Marketable Securities (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022
Marketable Securities
Debt and Equity Securities, FV-NI [Line Items]
Amortized Cost	$ 10,000	$ 73,947
Unrealized Gains	0	0
Unrealized Losses	0	(653)
Fair Value	10,000	73,294
U.S. treasury securities
Debt and Equity Securities, FV-NI [Line Items]
Amortized Cost		70,947
Unrealized Gains		0
Unrealized Losses		(653)
Fair Value		70,294
Certificates of deposit and time deposits
Debt and Equity Securities, FV-NI [Line Items]
Amortized Cost	10,000	3,000
Unrealized Gains	0	0
Unrealized Losses	0	0
Fair Value	10,000	3,000
Privately Held Debt Securities
Debt and Equity Securities, FV-NI [Line Items]
Amortized Cost	8,800	5,486
Unrealized Gains	0	0
Unrealized Losses	(3,350)	(4,218)
Fair Value	$ 5,450	$ 1,268

Investments - Schedule of Marketable Debt Securities by Remaining Contractual Maturity (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Due in one year or less	$ 10,000	$ 73,294

Investments - Carrying Values for Publicly Traded and Privately Held Equity Securities (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022
Debt and Equity Securities, FV-NI [Line Items]
Initial total cost	$ 145,320	$ 130,570
Cumulative net gain (loss)	8,697	27,226
Carrying value	154,017	157,796
Publicly traded equity securities
Debt and Equity Securities, FV-NI [Line Items]
Initial total cost	10,270	10,270
Cumulative net gain (loss)	9,095	20,531
Carrying value	19,365	30,801
Privately held equity securities
Debt and Equity Securities, FV-NI [Line Items]
Initial total cost	135,050	120,300
Cumulative net gain (loss)	(398)	6,695
Carrying value	$ 134,652	$ 126,995

Investments - Gains and Losses on Strategic Investments (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Investments, Debt and Equity Securities [Abstract]
Unrealized gains (losses) recognized on publicly traded equity securities	$ (11,437)	$ (79,608)	$ 34,290
Unrealized gains recognized on privately held equity securities	307	6,945	0
Unrealized losses recognized on privately held equity securities including impairment	(7,642)	0	(250)
Unrealized losses on privately held debt securities	(350)	0	0
Unrealized gains (losses), net	(19,122)	(72,663)	34,040
Realized gains recognized on publicly traded equity securities	0	0	14,040
Realized losses on debt securities	(285)	0	0
Gains (losses) on strategic investments, net	(19,407)	(72,663)	48,080
Unrealized gains (losses) recognized during the reporting period on privately held equity securities still held at the reporting date	$ (6,986)	$ 6,945	$ (250)

Investments - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jul. 20, 2022
Debt and Equity Securities, FV-NI [Line Items]
Upward price adjustment	$ 5.5	$ 6.7
Downward price adjustment	$ 5.9
Vertical First Trust
Debt and Equity Securities, FV-NI [Line Items]
Retained minority equity interest (as a percentage)			13.00%
Fair value of retained interest			$ 88.9

Investments - Carrying Amounts of Equity Method Investments (Details) $ in Thousands	11 Months Ended
	Jun. 30, 2023 USD ($)
Equity Method Investments, Effect Of Foreign Currency Translation [Roll Forward]
Balance as of July 20, 2022	$ 88,853
Effect of change in exchange rates	(3,417)
Balance as of June 30, 2023	$ 85,436

Derivative Contracts - Notional Amounts of Hedging Derivative Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022
Foreign exchange forward contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount	$ 884,992	$ 649,538
Foreign exchange forward contracts \| Under 12 months
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount	849,811	612,523
Foreign exchange forward contracts \| Over 12 months
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount	35,181	37,015
Foreign exchange forward contracts \| Cash Flow Hedge
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount	532,059	401,534
Foreign exchange forward contracts \| Non Hedge
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount	352,933	248,004
Interest rate swaps
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount	$ 650,000	$ 650,000
Average interest rate	0.81%	0.81%
Interest rate swaps \| Under 12 months
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount	$ 0	$ 0
Interest rate swaps \| Over 12 months
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount	$ 650,000	$ 650,000
Average interest rate	0.81%	0.81%
Interest rate swaps \| Cash Flow Hedge
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount	$ 650,000	$ 650,000
Average interest rate	0.81%	0.81%
Interest rate swaps \| Non Hedge
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount	$ 0	$ 0

Derivative Assets - Fair Value of Company's Derivative Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total derivative assets	$ 64,210	$ 44,052
Total derivative liabilities	10,114	24,100
Prepaid expenses and other current assets \| Foreign exchange forward contracts \| Cash Flow Hedge
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total derivative assets	3,177	0
Prepaid expenses and other current assets \| Foreign exchange forward contracts \| Non Hedge
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total derivative assets	3,892	389
Prepaid expenses and other current assets \| Interest rate swaps \| Cash Flow Hedge
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total derivative assets	28,926	13,296
Other non-current assets \| Interest rate swaps \| Cash Flow Hedge
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total derivative assets	28,215	30,367
Other non-current liabilities \| Foreign exchange forward contracts \| Cash Flow Hedge
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total derivative liabilities	209	812
Accrued expenses and other current liabilities \| Foreign exchange forward contracts \| Cash Flow Hedge
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total derivative liabilities	9,657	18,208
Accrued expenses and other current liabilities \| Foreign exchange forward contracts \| Non Hedge
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total derivative liabilities	$ 248	$ 5,080

Derivative Contracts - Pre-Tax Effects of Derivatives Designated as Cash Flow Hedging Instruments (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Derivative Instruments, Pre-Tax Effects Of Derivatives Designated As Cash Flow Hedging Instruments [Roll Forward]
Beginning balance	$ 327,372	$ 313,262	$ 566,643
Ending balance	654,672	327,372	313,262
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent
Derivative Instruments, Pre-Tax Effects Of Derivatives Designated As Cash Flow Hedging Instruments [Roll Forward]
Beginning balance	24,502	(2,936)	13,072
Gross unrealized gains recognized in other comprehensive income	17,952	11,421	19,069
Ending balance	48,170	24,502	(2,936)
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent \| Recognized in cost of revenues
Derivative Instruments, Pre-Tax Effects Of Derivatives Designated As Cash Flow Hedging Instruments [Roll Forward]
Net (gains) losses reclassified from cash flow hedge in accumulated other comprehensive income into profit or loss:	1,831	525	(1,326)
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent \| Recognized in research and development
Derivative Instruments, Pre-Tax Effects Of Derivatives Designated As Cash Flow Hedging Instruments [Roll Forward]
Net (gains) losses reclassified from cash flow hedge in accumulated other comprehensive income into profit or loss:	16,890	10,513	(28,490)
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent \| Recognized in marketing and sales
Derivative Instruments, Pre-Tax Effects Of Derivatives Designated As Cash Flow Hedging Instruments [Roll Forward]
Net (gains) losses reclassified from cash flow hedge in accumulated other comprehensive income into profit or loss:	1,337	220	(400)
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent \| Recognized in general and administrative
Derivative Instruments, Pre-Tax Effects Of Derivatives Designated As Cash Flow Hedging Instruments [Roll Forward]
Net (gains) losses reclassified from cash flow hedge in accumulated other comprehensive income into profit or loss:	5,563	1,606	(4,861)
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent \| Recognized in interest
Derivative Instruments, Pre-Tax Effects Of Derivatives Designated As Cash Flow Hedging Instruments [Roll Forward]
Net (gains) losses reclassified from cash flow hedge in accumulated other comprehensive income into profit or loss:	$ (19,905)	$ 3,153	$ 0

Assets Held For Sale (Details) - USD ($) $ in Thousands	12 Months Ended
Assets Held For Sale (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain from sale	$ 45,200
Discontinued Operation, Gain (Loss) on Disposal, Statement of Income or Comprehensive Income [Extensible Enumeration]	Other income (expense), net
Cash and cash equivalents	$ 2,102,550	$ 1,385,265	$ 919,227
Property and equipment, net	81,402	100,662
Assets classified as held-for-sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash and cash equivalents	0	2,701
Property and equipment, net	$ 0	$ 57,482

Property and Equipment - Property and Equipment, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 186,997	$ 177,379
Less: accumulated depreciation and impairment	(105,595)	(76,717)
Property and equipment, net	81,402	100,662
Equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	9,298	9,140
Computer Hardware and Software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	29,801	18,324
Furniture and Fittings
Property, Plant and Equipment [Line Items]
Property and equipment, gross	24,773	25,157
Leasehold Improvements and Other
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 123,125	$ 124,758

Property and Equipment - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Restructuring Cost and Reserve [Line Items]
Depreciation expense	$ 27.8	$ 19.3	$ 24.2
Impairment charge			$ 4.1
Facility Closing
Restructuring Cost and Reserve [Line Items]
Impairment of leasehold	8.4
Impairment charge	$ 52.7

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

Goodwill and Intangible Assets - Schedule of Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 722,838	$ 715,929
Additions	3,300	9,361
Effect of change in exchange rates	1,073	(2,452)
Goodwill, ending balance	$ 727,211	$ 722,838

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

Goodwill and Intangible Assets - Schedule of Finite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022
Finite-Lived Intangible Assets [Line Items]
Cost	$ 398,713	$ 397,513
Less: accumulated amortization	(329,641)	(296,673)
Intangible assets, net	69,072	100,840
Acquired developed technology
Finite-Lived Intangible Assets [Line Items]
Cost	$ 235,818	234,618
Weighted-Average Remaining Useful Lives (Years)	2 years
Patents, trademarks and other rights
Finite-Lived Intangible Assets [Line Items]
Cost	$ 33,393	33,393
Weighted-Average Remaining Useful Lives (Years)	5 years
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Cost	$ 129,502	$ 129,502
Weighted-Average Remaining Useful Lives (Years)	5 years

Goodwill and Intangible Assets - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense for intangible assets	$ 33.1	$ 32.4	$ 31.8

Goodwill and Intangible Assets - Schedule of Finite-Lived Intangible Assets, Future Amortization Expense (Details) $ in Thousands	Jun. 30, 2023 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2024	$ 26,229
2025	15,208
2026	12,670
2027	7,839
Thereafter	7,126
Total future amortization expense	$ 69,072

Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022
Other Liabilities Disclosure [Abstract]
Accrued expenses	$ 107,479	$ 123,381
Employee benefits	191,801	197,701
Tax liabilities	88,748	26,367
Customer deposits	11,784	9,718
Derivative liabilities	9,905	23,288
Liabilities held for sale	0	17,564
Other payables	13,414	8,120
Total accrued expenses and other liabilities	$ 423,131	$ 406,139

Amount classified as liabilities attributable to disposal group held for sale or disposed of, expected to be disposed of within one year or the normal operating cycle, if longer.

Leases - Lease Cost (Details) - USD ($) $ in Thousands	12 Months Ended
Leases - Lease Cost (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Leases [Abstract]
Operating lease costs	$ 50,134	$ 49,647	$ 43,199
Variable lease costs	13,094	12,077	13,604
Total lease costs	$ 63,228	$ 61,724	$ 56,803
Weighted average remaining lease term (in years)	7 years	8 years	7 years
Weighted average discount rate	2.50%	2.40%	2.50%

Leases - Supplemental Cash Flow Table (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Leases [Abstract]
Cash payments for operating leases	$ 41,493	$ 49,142	$ 44,874
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 3,580	$ 105,961	$ 27,042

Leases - Future Lease Payments (Details) $ in Thousands	Jun. 30, 2023 USD ($)
Leases [Abstract]
2024	$ 51,479
2025	49,078
2026	42,306
2027	37,534
2028	38,601
Thereafter	90,870
Total future operating lease payments	309,868
Less: imputed interest	(27,103)
Total lease liability balance	$ 282,765

Leases - Additional Information (Details) $ in Millions	12 Months Ended
Leases - Additional Information (Details) $ in Millions	Jun. 30, 2023 USD ($) extension_option	Jun. 30, 2021 USD ($)
Lessee, Lease, Description [Line Items]
Impairment charge		$ 4.1
Gain (Loss) on termination of Lease		$ 3.9
Term of future lease payment	15 years
Number of extension options \| extension_option	2
Length of additional extension periods	10 years
Future lease payments	$ 919.3
Facility Closing
Lessee, Lease, Description [Line Items]
Impairment charge	$ 52.7

Debt - Exchangeable Senior Notes (Details) - USD ($) $ in Thousands	12 Months Ended			64 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021	May 01, 2023	Jun. 30, 2018
Debt Instrument [Line Items]
Senior Notes	$ 0	$ 0
Net loss on exchange derivative and capped call transactions	$ 0	$ 424,482	$ 616,446
Senior Notes \| Exchangeable Senior Notes Maturing May 1 2023
Debt Instrument [Line Items]
Aggregate principal amount					$ 1,000,000
Senior Notes \| Exchangeable Senior Notes Maturing May 1 2023 \| Capped call transactions
Debt Instrument [Line Items]
Aggregate cost of capped calls				$ 87,700

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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Debt - Credit Facility (Details) - Line of Credit - The Credit Facility $ in Millions	1 Months Ended	12 Months Ended
	Oct. 31, 2020 USD ($)	Jun. 30, 2023 USD ($)
Line of Credit Facility [Line Items]
Obligated repayment amount, as a percentage	1.25%
Debt issuance costs	$ 4.4
Consolidated leverage ratio		3.5
Consolidated leverage ration in event of a material acquisition		4.5
Base Rate
Line of Credit Facility [Line Items]
Variable rate	0.50%
SOFR
Line of Credit Facility [Line Items]
Debt instrument, basis spread adjustment	0.0010
SOFR \| Minimum
Line of Credit Facility [Line Items]
Variable rate	0.875%
SOFR \| Maximum
Line of Credit Facility [Line Items]
Variable rate	1.50%
LIBOR \| Minimum
Line of Credit Facility [Line Items]
Variable rate	0.875%
LIBOR \| Maximum
Line of Credit Facility [Line Items]
Variable rate	1.50%
Unsecured Debt
Line of Credit Facility [Line Items]
Borrowing capacity	$ 1,000.0
Amount drawn		$ 1,000.0
Commitment fee, as a percentage		0.075%
Revolving Credit Facility
Line of Credit Facility [Line Items]
Borrowing capacity	500.0
Amount of increase available	$ 250.0
Commitment fee, as a percentage		0.20%

Commitment and Contingencies - Additional Information (Details) - lawsuit	2 Months Ended	12 Months Ended
	Apr. 30, 2023	Jun. 30, 2023
Long-Term Purchase Commitment [Line Items]
New claims filed (in lawsuits)	2
Minimum
Long-Term Purchase Commitment [Line Items]
Purchase commitment period		1 year
Maximum
Long-Term Purchase Commitment [Line Items]
Purchase commitment period		5 years

Commitment and Contingencies - Schedule of Purchase Obligations (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Contractual purchase obligations	$ 1,788,740	$ 152,935
Obligations for leases that have not yet commenced	919,333	956,118
Total purchase obligation	$ 2,708,073	$ 1,109,053

Commitment and Contingencies - Schedule of Future Commitments (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022
Other contractual commitments
2024	$ 364,326
2025	406,108
2026	458,234
2027	419,572
2028	140,500
Thereafter	0
Total commitments	1,788,740	$ 152,935
Leases not commenced
2024	0
2025	0
2026	0
2027	34,434
2028	47,290
Thereafter	837,609
Total commitments	919,333	956,118
Total
2024	364,326
2025	406,108
2026	458,234
2027	454,006
2028	187,790
Thereafter	837,609
Total purchase obligation	$ 2,708,073	$ 1,109,053

Restructuring - Additional Information (Details) $ in Thousands	12 Months Ended
	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Mar. 06, 2023 employee
Restructuring Cost and Reserve [Line Items]
Elimination of full-time employees \| employee				500
Elimination of full-time employees, as a percentage				5.00%
Restructuring charges	$ 96,894
Impairment charges for leases and leasehold improvements	61,098	$ 0	$ 7,526
Severance and Other Termination Benefits
Restructuring Cost and Reserve [Line Items]
Restructuring charges	25,320
Stock-based Compensation
Restructuring Cost and Reserve [Line Items]
Restructuring charges	10,275
Facility Closing
Restructuring Cost and Reserve [Line Items]
Restructuring charges	61,299
Impairment charges for leases and leasehold improvements	$ 61,100

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

Restructuring - Summary of Restructuring Charges (Details) $ in Thousands	12 Months Ended
	Jun. 30, 2023 USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 96,894
Severance and Other Termination Benefits
Restructuring Cost and Reserve [Line Items]
Restructuring charges	25,320
Stock-based Compensation
Restructuring Cost and Reserve [Line Items]
Restructuring charges	10,275
Lease Consolidation
Restructuring Cost and Reserve [Line Items]
Restructuring charges	61,299
Recognized in cost of revenues
Restructuring Cost and Reserve [Line Items]
Restructuring charges	9,192
Recognized in cost of revenues \| Severance and Other Termination Benefits
Restructuring Cost and Reserve [Line Items]
Restructuring charges	1,011
Recognized in cost of revenues \| Stock-based Compensation
Restructuring Cost and Reserve [Line Items]
Restructuring charges	288
Recognized in cost of revenues \| Lease Consolidation
Restructuring Cost and Reserve [Line Items]
Restructuring charges	7,893
Recognized in research and development
Restructuring Cost and Reserve [Line Items]
Restructuring charges	43,149
Recognized in research and development \| Severance and Other Termination Benefits
Restructuring Cost and Reserve [Line Items]
Restructuring charges	8,279
Recognized in research and development \| Stock-based Compensation
Restructuring Cost and Reserve [Line Items]
Restructuring charges	5,866
Recognized in research and development \| Lease Consolidation
Restructuring Cost and Reserve [Line Items]
Restructuring charges	29,004
Recognized in marketing and sales
Restructuring Cost and Reserve [Line Items]
Restructuring charges	23,868
Recognized in marketing and sales \| Severance and Other Termination Benefits
Restructuring Cost and Reserve [Line Items]
Restructuring charges	7,069
Recognized in marketing and sales \| Stock-based Compensation
Restructuring Cost and Reserve [Line Items]
Restructuring charges	1,815
Recognized in marketing and sales \| Lease Consolidation
Restructuring Cost and Reserve [Line Items]
Restructuring charges	14,984
Recognized in general and administrative
Restructuring Cost and Reserve [Line Items]
Restructuring charges	20,685
Recognized in general and administrative \| Severance and Other Termination Benefits
Restructuring Cost and Reserve [Line Items]
Restructuring charges	8,961
Recognized in general and administrative \| Stock-based Compensation
Restructuring Cost and Reserve [Line Items]
Restructuring charges	2,306
Recognized in general and administrative \| Lease Consolidation
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 9,418

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

Restructuring - Summary of Changes in Liabilities (Details) $ in Thousands	12 Months Ended
	Jun. 30, 2023 USD ($)
Restructuring Cost and Reserve [Line Items]
Charges	$ 96,894
Payments	(22,682)
Non-cash items	(72,006)
Restructuring reserve, current	2,206
Severance and Other Termination Benefits
Restructuring Cost and Reserve [Line Items]
Charges	25,320
Payments	(22,481)
Non-cash items	(633)
Restructuring reserve, current	2,206
Stock-based Compensation
Restructuring Cost and Reserve [Line Items]
Charges	10,275
Payments	0
Non-cash items	(10,275)
Restructuring reserve, current	0
Lease Consolidation
Restructuring Cost and Reserve [Line Items]
Charges	61,299
Payments	(201)
Non-cash items	(61,098)
Restructuring reserve, current	$ 0

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

Revenue - Remaining Performance Obligations (Details) $ in Billions	Jun. 30, 2023 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 1.8
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percentage	82.00%
Revenue remaining performance obligation, expected timing of satisfaction period	12 months

Revenue - Disaggregation of Revenue by Geographic Region and Deployment Options (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Disaggregation of Revenue [Line Items]
Total revenues	$ 3,534,647	$ 2,802,882	$ 2,089,132
Cloud
Disaggregation of Revenue [Line Items]
Total revenues	2,085,498	1,515,424	967,832
Data Center
Disaggregation of Revenue [Line Items]
Total revenues	819,251	560,319	336,273
Server
Disaggregation of Revenue [Line Items]
Total revenues	400,519	525,028	607,778
Marketplace and services
Disaggregation of Revenue [Line Items]
Total revenues	229,379	202,111	177,249
Total Americas
Disaggregation of Revenue [Line Items]
Total revenues	1,765,166	1,408,868	1,028,481
United States
Disaggregation of Revenue [Line Items]
Total revenues	1,537,328	1,230,801	901,389
Other Americas
Disaggregation of Revenue [Line Items]
Total revenues	227,838	178,067	127,092
EMEA
Disaggregation of Revenue [Line Items]
Total revenues	1,366,739	1,077,338	826,445
Asia Pacific
Disaggregation of Revenue [Line Items]
Total revenues	$ 402,742	$ 316,676	$ 234,206

Revenue - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Disaggregation of Revenue [Line Items]
Total revenues	$ 3,534,647	$ 2,802,882	$ 2,089,132
Deferred revenue recognized, as a percentage	30.00%	29.00%
Premier support
Disaggregation of Revenue [Line Items]
Total revenues	$ 17,800	$ 21,100	$ 20,000

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

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
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-Paragraph 1
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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Revenue - Change in Contract Balances (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Contract With Customer, Liability [Roll Forward]
Balance, beginning of period	$ 1,182,680	$ 897,595
Additions	3,897,446	3,087,967
Revenue	(3,534,647)	(2,802,882)
Balance, end of period	$ 1,545,479	$ 1,182,680

Revenue - Changes in Balance of Deferred Commission (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Capitalized Contract Cost [Roll Forward]
Balance, beginning of period	$ 27,141	$ 9,011
Additions	40,060	24,302
Amortization expense	(13,597)	(6,172)
Balance, end of period	53,604	27,141
Deferred contract acquisition costs included in:
Prepaid expenses and other current assets	18,027	8,806
Other non-current assets	35,577	18,335
Capitalized Contract Cost, Net, Total	$ 53,604	$ 27,141

Geographic Information (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information [Line Items]
Total long-lived assets	$ 265,597	$ 377,938
United States
Segment Reporting Information [Line Items]
Total long-lived assets	213,567	295,577
Australia
Segment Reporting Information [Line Items]
Total long-lived assets	37,891	67,241
All other countries
Segment Reporting Information [Line Items]
Total long-lived assets	$ 14,139	$ 15,120

Stockholder's Equity - Additional Information (Details) $ / shares in Units, $ in Thousands	1 Months Ended	12 Months Ended
	Apr. 30, 2021	Jun. 30, 2023 USD ($) vote $ / shares shares	Jun. 30, 2022 USD ($) $ / shares shares	Jun. 30, 2021 USD ($) $ / shares	Dec. 31, 2015	Jan. 31, 2023 USD ($)
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Consent required to convert, percentage		66.66%
Conversion threshold percentage (less than)		10.00%
Preferred stock, authorized (in shares) \| shares		10,000,000
Preferred stock, outstanding (in shares) \| shares		0	0
Number of shares available for grant (in shares) \| shares		30,935,067
Stock repurchase program, authorized amount \| $						$ 1,000,000
Treasury stock, shares, acquired (in shares) \| shares		1,000,000
Treasury stock, value, acquired, cost method \| $		$ 154,200
Shares acquired, average cost per share (in dollars per share) \| $ / shares		$ 157.49
Stock repurchase program, remaining authorized repurchase amount \| $		$ 845,800
Restricted Stock Units (RSUs)
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period	4 years				4 years
Granted, weighted average grant date fair value (in dollars per share) \| $ / shares		$ 221.87	$ 332.43	$ 192.62
Aggregate intrinsic value, vested \| $		$ 617,018	$ 925,800	$ 734,600
Tax benefit \| $		156,500	$ 242,800	$ 194,300
Cost not yet recognized \| $		$ 1,700,000
Cost not yet recognized, period for recognition		1 year 9 months 18 days
Granted (in shares) \| shares		8,315,466
Shares outstanding (in shares) \| shares		9,562,918	6,023,997
Aggregate intrinsic value, outstanding \| $		$ 1,604,753	$ 1,128,897
Restricted Stock Units (RSUs) \| Share-Based Payment Arrangement, Tranche One
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period					1 year
Award vesting rights, percentage					25.00%
Restricted Stock Units (RSUs) \| Share-Based Payment Arrangement, Tranche Two
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period					3 years
Award vesting rights, percentage					75.00%
Award vesting rights, quarterly vesting percentage					8.30%
Restricted Stock
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Granted (in shares) \| shares		0	8,821
Shares outstanding (in shares) \| shares		6,131	72,484
Aggregate intrinsic value, outstanding \| $		$ 1,000	$ 13,600
Class A
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common stock, par value (in dollars per share) \| $ / shares		$ 0.00001	$ 0.00001
Voting rights, number \| vote		1
Class B
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Conversion ratio		1
Common stock, par value (in dollars per share) \| $ / shares		$ 0.00001	$ 0.00001
Voting rights, number \| vote		10

Stockholder's Equity - Schedule of RSU Activity (Details) - Restricted Stock Units (RSUs) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Number of Shares
Beginning balance (in shares)	6,023,997
Granted (in shares)	8,315,466
Vested (in shares)	(3,604,960)
Forfeited or cancelled (in shares)	(1,171,585)
Ending balance (in shares)	9,562,918	6,023,997
Weighted Average Grant Date Fair Value
Beginning balance (in dollars per share)	$ 257.62
Granted, weighted average grant date fair value (in dollars per share)	221.87	$ 332.43	$ 192.62
Vested, weighted average grant date fair value (in dollars per share)	236.90
Forfeited or cancelled, weighted average grant date fair value (in dollars per share)	239.09
Ending balance (in dollars per share)	$ 235.16	$ 257.62
Aggregate intrinsic value, outstanding beginning balance	$ 1,128,897
Aggregate intrinsic value, vested	617,018	$ 925,800	$ 734,600
Aggregate intrinsic value, outstanding ending balance	$ 1,604,753	$ 1,128,897

Net Loss Per Share - Basic and Diluted Net Loss (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Numerator:
Net loss	$ (486,761)	$ (519,510)	$ (578,979)
Denominator:
Weighted-average shares outstanding, basic (in shares)	256,307,000	253,312,000	249,679,000
Weighted-average shares outstanding, diluted (in shares)	256,307,000	253,312,000	249,679,000
Net loss per share, basic (in USD per share)	$ (1.90)	$ (2.05)	$ (2.32)
Net loss per share, diluted (in USD per share)	$ (1.90)	$ (2.05)	$ (2.32)
Class A
Numerator:
Net loss	$ (283,907)	$ (290,290)	$ (308,953)
Denominator:
Weighted-average shares outstanding, basic (in shares)	149,493,000	141,545,000	133,233,000
Weighted-average shares outstanding, diluted (in shares)	149,493,000	141,545,000	133,233,000
Net loss per share, basic (in USD per share)	$ (1.90)	$ (2.05)	$ (2.32)
Net loss per share, diluted (in USD per share)	$ (1.90)	$ (2.05)	$ (2.32)
Class B
Numerator:
Net loss	$ (202,854)	$ (229,220)	$ (270,026)
Denominator:
Weighted-average shares outstanding, basic (in shares)	106,814,000	111,767,000	116,446,000
Weighted-average shares outstanding, diluted (in shares)	106,814,000	111,767,000	116,446,000
Net loss per share, basic (in USD per share)	$ (1.90)	$ (2.05)	$ (2.32)
Net loss per share, diluted (in USD per share)	$ (1.90)	$ (2.05)	$ (2.32)

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

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

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

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Net Loss Per Share - Antidilutive Securities (Details) - shares shares in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (in shares)	7,443	3,819	3,721
Class A Common Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (in shares)	0	1	63
Class A Common Stock RSU awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (in shares)	7,426	3,736	3,480
Class A Common Stock restricted stock awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (in shares)	17	82	178

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Tax Credit Carryforward [Line Items]
Valuation allowance	$ 3,019,080	$ 2,941,191	$ 2,800,000
Net operating loss carryforwards	857,944	1,013,750
Deferred tax assets, operating loss carryforwards, domestic	788,300
Deferred tax assets, operating loss carryforwards, not subject to expiration	788,000
Deferred tax assets, operating loss carryforwards, subject to expiration	300
Deferred tax assets, operating loss carryforwards, state and local	94,500
Deferred tax assets, tax credit carryforwards, research	191,400
Unrecognized tax benefits	122,302	53,483	37,944	$ 26,841
Undistributed earnings of domestic subsidiaries	458,800
Unrecognized tax benefits that would impact effective tax rate	113,200	$ 2,500	$ 1,900
Income tax examination, penalties and interest accrued	5,800
Operating Loss Carryforwards	886,000
Settlement with Taxing Authority
Tax Credit Carryforward [Line Items]
Decrease in unrecognized tax benefits is reasonably possible	1,500
Increase in unrecognized tax benefits is reasonably possible	9,300
Australian Taxation Office \| Settlement with Taxing Authority
Tax Credit Carryforward [Line Items]
Decrease in unrecognized tax benefits is reasonably possible	53,700
Indian ATM Credit
Tax Credit Carryforward [Line Items]
Unrecognized tax benefits	3,700
Polish R&D Credits
Tax Credit Carryforward [Line Items]
Unrecognized tax benefits	$ 5,300

Income Taxes - Components of Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Domestic	$ (25,250)	$ (480,982)	$ (603,257)
Foreign	(285,886)	10,044	88,842
Loss before provision for income taxes	$ (311,136)	$ (470,938)	$ (514,415)

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

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