Atlassian (TEAM) 10-Q 2 Feb 24 2024 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Dec. 31, 2023	Jan. 26, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 31, 2023
Document Transition Report	false
Entity File Number	001-37651
Entity Registrant Name	Atlassian Corporation
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	88-3940934
Entity Address, Address Line One	350 Bush Street
Entity Address, Address Line Two	Floor 13
Entity Address, City or Town	San Francisco
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94104
City Area Code	415
Local Phone Number	701-1110
Title of 12(b) Security	Class A Common Stock, par value $0.00001 per share
Trading Symbol	TEAM
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001650372
Current Fiscal Year End Date	--06-30
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false
Class A
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		157,364,829
Class B
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		102,041,969

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2023	Jun. 30, 2023
Current assets:
Cash and cash equivalents	$ 1,460,497	$ 2,102,550
Marketable securities	150,831	10,000
Accounts receivable, net	526,379	477,678
Prepaid expenses and other current assets	133,834	146,136
Total current assets	2,271,541	2,736,364
Non-current assets:
Property and equipment, net	78,095	81,402
Operating lease right-of-use assets	189,195	184,195
Strategic investments	223,405	225,538
Intangible assets, net	329,010	69,072
Goodwill	1,285,896	727,211
Deferred tax assets	3,859	9,945
Other non-current assets	68,497	73,052
Total assets	4,449,498	4,106,779
Current liabilities:
Accounts payable	160,469	159,293
Accrued expenses and other current liabilities	410,377	423,131
Deferred revenue, current portion	1,451,023	1,362,736
Operating lease liabilities, current portion	46,230	44,930
Term loan facility, current portion	50,000	37,500
Total current liabilities	2,118,099	2,027,590
Non-current liabilities:
Deferred revenue, net of current portion	202,860	182,743
Operating lease liabilities, net of current portion	237,481	237,835
Term loan facility, net of current portion	937,180	962,093
Deferred tax liabilities	16,819	10,669
Other non-current liabilities	32,136	31,177
Total liabilities	3,544,575	3,452,107
Commitments and contingencies (Note 11)
Stockholders’ equity
Additional paid-in capital	3,656,057	3,130,631
Accumulated other comprehensive income	38,664	34,002
Accumulated deficit	(2,789,801)	(2,509,964)
Total stockholders’ equity	904,923	654,672
Total liabilities and stockholders’ equity	4,449,498	4,106,779
Class A
Stockholders’ equity
Common stock, value issued	2	2
Class B
Stockholders’ equity
Common stock, value issued	$ 1	$ 1

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2023	Jun. 30, 2023
Class A
Common stock, par value (in dollars per share)	$ 0.00001	$ 0.00001
Common stock, shares authorized (in shares)	750,000,000	750,000,000
Common stock, shares issued (in shares)	156,359,427	152,442,673
Shares outstanding (in shares)	156,359,427	152,442,673
Class B
Common stock, par value (in dollars per share)	$ 0.00001	$ 0.00001
Common stock, shares authorized (in shares)	230,000,000	230,000,000
Common stock, shares issued (in shares)	103,047,371	105,124,103
Shares outstanding (in shares)	103,047,371	105,124,103

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Dec. 31, 2023		Dec. 31, 2022		Dec. 31, 2023	Dec. 31, 2022
Revenues:
Total revenues	$ 1,060,110		$ 872,704		$ 2,037,885	$ 1,680,096
Cost of revenues	194,536	[1],[2]	155,945	[1],[2]	372,565	295,337
Gross profit	865,574		716,759		1,665,320	1,384,759
Operating expenses:
Research and development	536,779	[1],[2]	473,676	[1],[2]	1,018,517	872,682
Marketing and sales	220,513	[1],[2]	186,191	[1],[2]	414,080	346,319
General and administrative	157,344	[2]	156,131	[2]	300,654	299,024
Total operating expenses	914,636		815,998		1,733,251	1,518,025
Operating loss	(49,062)		(99,239)		(67,931)	(133,266)
Other income (expense), net	(4,639)		(6,749)		(12,974)	22,540
Interest income	22,593		8,963		47,819	14,106
Interest expense	(9,001)		(7,508)		(17,977)	(13,629)
Loss before provision for income taxes	(40,109)		(104,533)		(51,063)	(110,249)
Provision for income taxes	(44,360)		(100,498)		(65,289)	(108,523)
Net loss	$ (84,469)		$ (205,031)		$ (116,352)	$ (218,772)
Net loss per share attributable to Class A and Class B common stockholders:
Basic (in dollars per share)	$ (0.33)		$ (0.80)		$ (0.45)	$ (0.86)
Diluted (in dollars per share)	$ (0.33)		$ (0.80)		$ (0.45)	$ (0.86)
Weighted-average shares used in computing net loss per share attributable to Class A and Class B common stockholders:
Basic (in shares)	258,601,000		255,874,000		258,254,000	255,520,000
Diluted (in shares)	258,601,000		255,874,000		258,254,000	255,520,000
Subscription
Revenues:
Total revenues	$ 932,181		$ 711,199		$ 1,784,163	$ 1,362,183
Maintenance
Revenues:
Total revenues	69,102		106,023		147,700	219,588
Other
Revenues:
Total revenues	$ 58,827		$ 55,482		$ 106,022	$ 98,325
[1] (2) Amounts include amortization of acquired intangible assets, as follows: Cost of revenues $ 7,056 $ 5,697 $ 12,828 $ 11,394 Research and development 93 93 187 187 Marketing and sales 2,712 2,506 5,077 5,011 (1) Amounts include stock-based compensation, as follows: Cost of revenues $ 19,213 $ 18,553 $ 36,034 $ 29,166 Research and development 187,819 169,342 338,265 279,471 Marketing and sales 38,168 38,156 70,449 61,351 General and administrative 44,645 39,734 80,678 69,428

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Amortization expense for intangible assets	$ 9,900	$ 8,300	$ 18,100	$ 16,600
Cost of revenues
Stock based compensation expense	19,213	18,553	36,034	29,166
Amortization expense for intangible assets	7,056	5,697	12,828	11,394
Research and development
Stock based compensation expense	187,819	169,342	338,265	279,471
Amortization expense for intangible assets	93	93	187	187
Marketing and sales
Stock based compensation expense	38,168	38,156	70,449	61,351
Amortization expense for intangible assets	2,712	2,506	5,077	5,011
General and administrative
Stock based compensation expense	$ 44,645	$ 39,734	$ 80,678	$ 69,428

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Net loss	$ (84,469)	$ (205,031)	$ (116,352)	$ (218,772)
Other comprehensive income, net of reclassification adjustments:
Foreign currency translation adjustment	7,256	6,285	1,495	(4,292)
Net change in unrealized gain on marketable and privately held debt securities	87	1,085	31	1,220
Net gain on cash flow hedging derivative instruments	15,723	28,755	3,136	32,724
Other comprehensive income, before tax	23,066	36,125	4,662	29,652
Income tax effect	0	0	0	0
Other comprehensive income, net of tax	23,066	36,125	4,662	29,652
Total comprehensive loss, net of tax	$ (61,403)	$ (168,906)	$ (111,690)	$ (189,120)

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($) $ in Thousands	Total	Class A	Class B	Common Stock Class A	Common Stock Class B	Additional paid in capital	Accumulated other comprehensive income	Accumulated Deficit
Beginning balance (in shares) at Jun. 30, 2022				144,820,000	110,036,000
Beginning balance at Jun. 30, 2022	$ 327,372			$ 1	$ 1	$ 2,182,536	$ 13,864	$ (1,869,030)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued (in shares)				1,412,000
Common stock issued	(176)					(176)
Conversion from Class B Common Stock to Class A Common Stock (in shares)				2,788,000	(2,788,000)
Stock-based compensation	439,416					439,416
Other comprehensive income, net of tax	29,652						29,652
Net loss	(218,772)	$ (126,357)	$ (92,415)					(218,772)
Ending balance (in shares) at Dec. 31, 2022				149,020,000	107,248,000
Ending balance at Dec. 31, 2022	577,492			$ 1	$ 1	2,621,776	43,516	(2,087,802)
Beginning balance (in shares) at Sep. 30, 2022				148,232,000	107,248,000
Beginning balance at Sep. 30, 2022	480,613			$ 1	$ 1	2,355,991	7,391	(1,882,771)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued (in shares)				788,000
Stock-based compensation	265,785					265,785
Other comprehensive income, net of tax	36,125						36,125
Net loss	(205,031)	$ (119,094)	$ (85,937)					(205,031)
Ending balance (in shares) at Dec. 31, 2022				149,020,000	107,248,000
Ending balance at Dec. 31, 2022	577,492			$ 1	$ 1	2,621,776	43,516	(2,087,802)
Beginning balance (in shares) at Jun. 30, 2023		152,442,673	105,124,103	152,437,000	105,124,000
Beginning balance at Jun. 30, 2023	654,672			$ 2	$ 1	3,130,631	34,002	(2,509,964)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued (in shares)				2,422,000
Conversion from Class B Common Stock to Class A Common Stock (in shares)				2,077,000	(2,077,000)
Stock-based compensation	525,426					525,426
Repurchases of Class A Common Stock (in shares)				(879,000)
Repurchases of Class A Common Stock	(163,485)							(163,485)
Other comprehensive income, net of tax	4,662						4,662
Net loss	(116,352)	$ (69,685)	$ (46,667)					(116,352)
Ending balance (in shares) at Dec. 31, 2023		156,359,427	103,047,371	156,057,000	103,047,000
Ending balance at Dec. 31, 2023	904,923			$ 2	$ 1	3,656,057	38,664	(2,789,801)
Beginning balance (in shares) at Sep. 30, 2023				154,174,000	104,086,000
Beginning balance at Sep. 30, 2023	774,625			$ 2	$ 1	3,366,212	15,598	(2,607,188)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued (in shares)				1,374,000
Conversion from Class B Common Stock to Class A Common Stock (in shares)				1,039,000	(1,039,000)
Stock-based compensation	289,845					289,845
Repurchases of Class A Common Stock (in shares)				(530,000)
Repurchases of Class A Common Stock	(98,144)							(98,144)
Other comprehensive income, net of tax	23,066						23,066
Net loss	(84,469)	$ (50,806)	$ (33,663)					(84,469)
Ending balance (in shares) at Dec. 31, 2023		156,359,427	103,047,371	156,057,000	103,047,000
Ending balance at Dec. 31, 2023	$ 904,923			$ 2	$ 1	$ 3,656,057	$ 38,664	$ (2,789,801)

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Cash flows from operating activities:
Net loss	$ (84,469)	$ (205,031)	$ (116,352)	$ (218,772)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	17,012	15,476	32,096	30,096
Stock-based compensation	289,845	265,785	525,426	439,416
Deferred income taxes	(8,618)	3,291	(3,305)	4,813
Gain on a non-cash sale of a controlling interest of a subsidiary	0	(2,066)	(1,378)	(45,158)
Net loss on strategic investments	1,442	7,563	7,690	19,076
Net foreign currency loss (gain)	2,237	(2,203)	2,418	(5,828)
Other	154	112	286	230
Changes in operating assets and liabilities, net of business combinations:
Accounts receivable, net	(156,163)	(107,805)	(46,675)	(46,491)
Prepaid expenses and other assets	(486)	(2,690)	(23,542)	(25,367)
Accounts payable	33,648	18,587	623	49,734
Accrued expenses and other liabilities	59,140	58,260	(12,191)	(50,183)
Deferred revenue	135,852	101,246	91,454	91,401
Net cash provided by operating activities	289,594	150,525	456,550	242,967
Cash flows from investing activities:
Business combinations, net of cash acquired	(844,727)	0	(844,727)	(600)
Purchases of property and equipment	(5,333)	(4,040)	(9,002)	(20,536)
Purchases of strategic investments	(250)	(1,100)	(4,000)	(9,450)
Purchases of marketable securities and other investments	(69,783)	0	(139,146)	(10,000)
Proceeds from maturities of marketable securities	16,150	18,750	16,150	47,700
Proceeds from sales of marketable securities and strategic investments	41,513	363	61,392	621
Net cash provided by (used in) investing activities	(862,430)	13,973	(919,333)	7,735
Cash flows from financing activities:
Principal payments of term loan facility	(12,500)	0	(12,500)	0
Repurchases of Class A Common Stock	(101,773)	0	(167,652)	0
Proceeds from other financing arrangements	0	0	0	1,396
Net cash provided by (used in) financing activities	(114,273)	0	(180,152)	1,396
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash	4,063	3,522	783	(1,417)
Net increase (decrease) in cash, cash equivalents, and restricted cash	(683,046)	168,020	(642,152)	250,681
Cash, cash equivalents, and restricted cash at beginning of period	2,144,809	1,469,949	2,103,915	1,386,686
Net decrease in cash and cash equivalents included in assets held for sale	0	0	0	602
Cash, cash equivalents, and restricted cash at end of period	1,461,763	1,637,969	1,461,763	1,637,969
Reconciliation of cash, cash equivalents, and restricted cash within the consolidated balance sheets to the amounts shown in the condensed consolidated statements of cash flows above:
Cash and cash equivalents			2,102,550
Restricted cash included in other non-current assets	1,266	1,354	1,266	1,354
Total cash, cash equivalents, and restricted cash	1,461,763	1,637,969	1,461,763	$ 1,637,969
Non-cash investing and financing activities:
Purchase of property and equipment included in accrued expenses and other current liabilities	$ 2,597	$ 1,385	$ 2,597

Description of Business

Description of Business	6 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	1. Description of Business Atlassian Corporation, a Delaware corporation (the “Company”), designs, develops, licenses, and maintains software and provisions software hosting services to help teams organize, discuss, and complete their work. The Company’s primary products include Jira Software and Jira Work Management for planning and project management, Confluence for content creation and sharing, and Jira Service Management for team service, management, and support applications. The Company’s fiscal year ends on June 30 of each year. References to fiscal year 2024, for example, refer to the fiscal year ending June 30, 2024.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Basis of Presentation The accompanying condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). These principles are established primarily by the Financial Accounting Standards Board (“FASB”). The accompanying condensed consolidated financial statements contain all normal recurring adjustments which are necessary to fairly present the condensed consolidated balance sheets as of December 31, 2023 and June 30, 2023, the statements of operations, comprehensive loss, stockholders’ equity, and cash flows for the three and six months ended December 31, 2023 and 2022. These condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the disclosures made are sufficient to make the information not misleading . Results of operations for interim periods are not necessarily indicative of results for the entire year or of the results to be expected in future periods. Principles of Consolidation The accompanying condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. Use of Estimates The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make certain estimates and assumptions in the Company’s condensed consolidated financial statements. These estimates are based on information available as of the date of the condensed consolidated financial statements. 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 of performance obligations for revenue contracts with multiple performance obligations, useful lives and impairment of long-lived assets, valuation of intangible assets, valuation of strategic investments and income taxes. Actual results could differ materially from these estimates. Significant Accounting Policies There were no significant changes to the Company’s significant accounting policies disclosed in Note 2, “ Summary of Significant Accounting Policies, ” of its Annual Report on Form 10-K for fiscal year 2023, which was filed with the SEC on August 18, 2023. Concentration of Credit Risk and Significant Customers Financial instruments potentially exposing the Company to credit risk consist primarily of cash, cash equivalents, accounts receivable, derivative contracts and investments. The Company holds cash at financial institutions that management believes are high credit, quality financial institutions and invests in investment grade securities rated A- and above. The Company’s derivative contracts expose it to credit risk to the extent that the counterparties may be unable to meet the terms of the arrangement. The Company enters into master netting agreements with select financial institutions to reduce its credit risk and trades with several counterparties to reduce its concentration risk with any single counterparty. The Company does not have significant exposure to counterparty credit risk at this time. In addition, the Company does not require nor is required to post collateral of any kind related to any foreign currency derivatives. Credit risk arising from accounts receivable is mitigated to a certain extent due to the Company’s large number of customers and their dispersion across various industries and geographies. The Company’s customer base is highly diversified, thereby limiting credit risk. The Company manages credit risk with customers by closely monitoring its receivables and contract assets. The Company continuously monitors outstanding receivables locally to assess whether there is objective evidence that outstanding accounts receivables and contract assets are credit-impaired. As of December 31, 2023 and June 30, 2023, no customer represented more than 10% of the total accounts receivable balance. For the three and six months ended December 31, 2023 and 2022, no customer represented more than 10% of total revenues. New Accounting Standards Not Yet Adopted in Fiscal Year 2024 In June 2022, the FASB issued Accounting Standards Update (“ASU”) No. 2022-03 “Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restriction.” This ASU clarifies that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring fair value. This amendment also requires public entities to add certain disclosures for equity securities subject to contractual sale restrictions. This ASU is effective for fiscal years beginning after December 15, 2023. The Company is currently evaluating the impact of the new guidance on its consolidated financial statements. In November 2023, the FASB issued ASU No. 2023-07 “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.” This ASU expands public entities’ segment disclosures by requiring disclosure of significant segment expenses that are regularly provided to the chief operating decision maker and included within each reported measure of segment profit or loss, an amount and description of its composition for other segment items, and interim disclosures of a reportable segment’s profit or loss and assets. All disclosure requirements under ASU 2023-07 are also required for public entities with a single reportable segment. This ASU is effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024 with early adoption permitted and requires retrospective application to all prior periods. The Company is currently evaluating the impact of the new guidance on its consolidated financial statements. In December 2023, the FASB issued ASU No. 2023-09 “Income Taxes (Topic 740): Improvements to Income Tax Disclosures.”

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	3. Fair Value Measurements The following table presents the Company’s financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2023, by the 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 $ 782,695 $ — $ 782,695 Commercial paper — 7,546 7,546 Corporate debt securities — 2,995 2,995 Marketable securities: U.S. treasury securities — 38,835 38,835 Agency securities — 2,972 2,972 Certificates of deposit and time deposits — 10,000 10,000 Commercial paper — 43,243 43,243 Corporate debt securities — 55,781 55,781 Derivative financial instruments — 57,992 57,992 Total assets measured at fair value $ 782,695 $ 219,364 $ 1,002,059 Liabilities measured at fair value Derivative financial instruments $ — $ 1,848 $ 1,848 Total liabilities measured at fair value $ — $ 1,848 $ 1,848 The following table presents the Company’s financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2023, by level within the fair value hierarchy (in thousands): Level 1 Level 2 Total Assets measured at fair value Cash and cash equivalents: Money market funds $ 1,338,509 $ — $ 1,338,509 Marketable securities: Certificates of deposit and time deposits — 10,000 10,000 Derivative financial instruments — 64,210 64,210 Strategic investments: Publicly traded equity securities 19,365 — 19,365 Total assets measured at fair value $ 1,357,874 $ 74,210 $ 1,432,084 Liabilities measured at fair value Derivative financial instruments $ — $ 10,114 $ 10,114 Total liabilities measured at fair value $ — $ 10,114 $ 10,114 Due to the short-term nature of accounts receivables, net, contract assets, accounts payable, and accrued expenses and other current liabilities, their carrying amount is assumed to approximate their fair value. Determination of Fair Value The Company uses quoted prices in active markets for identical assets to determine the fair value of the Company’s Level 1 investments. The fair value of the Company’s Level 2 investments is determined based on quoted market prices or alternative market observable inputs. Strategic Investments Measured and Recorded at Fair Value on a Non-Recurring Basis The Company’s investments in privately held companies are not included in the tables above and are discussed in Note 4, “Investments.” The carrying value of the Company’s privately held equity securities are adjusted on a non-recurring basis upon observable price changes in orderly transactions for identical or similar investments of the same issuer, or impairment (referred to as the measurement alternative). Privately held equity securities that have been remeasured during the period based on observable price changes in orderly transactions are classified within Level 2 or Level 3 in the fair value hierarchy because the Company estimates the value based on valuation methods which may include a combination of the observable transaction price at the transaction date and other unobservable inputs including volatility, rights and preferences of the investments, and obligations of the securities the Company holds. The fair value of privately held equity securities that have been remeasured due to impairment are classified within Level 3. The Company’s privately held debt and equity securities amounted to $142.7 million and $140.1 million as of December 31, 2023 and June 30, 2023, respectively.

Investments

Investments	6 Months Ended
	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Investments	4. Investments Marketable Securities The Company’s investments of marketable securities as of December 31, 2023, consisted of the following (in thousands): Amortized Cost Unrealized Gains Unrealized Losses Fair Value U.S. treasury securities $ 38,820 $ 15 $ — $ 38,835 Agency securities 2,972 — — 2,972 Certificates of deposit and time deposits 10,000 — — 10,000 Commercial paper 43,243 — — 43,243 Corporate debt securities 55,765 25 (9) 55,781 Total marketable securities $ 150,800 $ 40 $ (9) $ 150,831 The Company’s investments of marketable securities as of June 30, 2023, consisted of the following (in thousands): Amortized Cost Unrealized Gains Unrealized Losses Fair Value Certificates of deposit and time deposits $ 10,000 $ — $ — $ 10,000 Total marketable securities $ 10,000 $ — $ — $ 10,000 The table below summarizes the Company’s marketable securities by remaining contractual maturity based on their effective maturity dates (in thousands): December 31, 2023 June 30, 2023 Due in one year or less $ 150,831 $ 10,000 The Company regularly reviews the changes to the rating of its marketable securities by rating agencies and monitors the surrounding economic conditions to assess the risk of expected credit losses. As of December 31, 2023, the unrealized losses and the related risk of expected credit losses were not material, and as of June 30, 2023, no unrealized losses were recorded. Strategic Investments Carrying value of privately held debt securities The Company’s investments of privately held debt securities as of December 31, 2023, consisted of the following (in thousands): Amortized Cost Unrealized Gains Unrealized Losses Fair Value Privately held debt securities $ 9,300 $ — $ (3,350) $ 5,950 The Company’s investments of privately held debt securities as of June 30, 2023, consisted of the following (in thousands): Amortized Cost Unrealized Gains Unrealized Losses Fair Value Privately held debt securities $ 8,800 $ — $ (3,350) $ 5,450 Carrying value of publicly traded and privately held equity securities The carrying value is measured as the total initial cost plus the cumulative net gain (loss). Publicly traded equity securities are recorded at fair value and privately held equity securities are measured using the measurement alternative. The Company did not have any publicly traded equity securities as of December 31, 2023 and t he carrying values for privately held equity securities as of December 31, 2023 are summarized below (in thousands): Privately held equity securities Initial total cost $ 138,550 Cumulative net losses (1,840) Carrying value $ 136,710 Privately held equity securities cumulative net losses are comprised of downward adjustments and impairment of $7.3 million and upward adjustments of $5.5 million as of December 31, 2023 . 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 Total Initial total cost $ 10,270 $ 135,050 $ 145,320 Cumulative net gains (losses) 9,095 (398) 8,697 Carrying value $ 19,365 $ 134,652 $ 154,017 Privately held equity securities cumulative net losses are comprised of downward adjustments and impairment of $5.9 million and upward adjustments of $5.5 million as of June 30, 2023. Gains and Losses on Strategic Investments The components of gains and losses on strategic investments were as follows (in thousands): Three Months Ended December 31, Six Months Ended December 31, 2023 2022 2023 2022 Unrealized losses recognized on publicly traded equity securities $ — $ (1,669) $ — $ (11,477) Unrealized gains recognized on privately held equity securities — 260 — 260 Unrealized losses recognized on privately held equity securities including impairment (1,442) (5,927) (1,442) (7,642) Unrealized losses, net $ (1,442) $ (7,336) $ (1,442) $ (18,859) Realized gains recognized on sales of publicly traded equity securities — — 515 — Realized losses on debt securities — (212) — (212) Losses on strategic investments, net $ (1,442) $ (7,548) $ (927) $ (19,071) Unrealized losses recognized during the reporting period on privately held equity securities still held at the reporting date $ (1,442) $ (5,667) $ (1,442) $ (7,382) 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 recognized on sales of publicly traded equity securities 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 Vertical First Trust (“VFT”) was established for the construction project associated with the Company’s new global headquarters in Sydney, Australia (the “Australian HQ Property”). In fiscal year 2023, the Company completed a non-cash sale of the controlling interest of VFT to a third-party buyer as part of the contemplated transactions for the buyer to invest in and develop the Australian HQ Property. The Company retained a minority equity interest of 13% in the form of ordinary units in VFT and has significant influence in VFT. The Company’s interest in VFT is accounted for using the equity method in the condensed consolidated financial statements. Under the equity method, the Company records its proportionate share of VFT’s earnings or losses. 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 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 the six months ended December 31, 2023 (in thousands): Equity Method Investment Balance as of June 30, 2023 $ 85,436 Share of losses (6,762) Effect of change in exchange rates 2,071 Balance as of December 31, 2023 $ 80,745 The carrying amount of the Company’s investment in VFT was reported within strategic investments in the condensed consolidated balance sheets.

Derivative Contracts

Derivative Contracts	6 Months Ended
	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Contracts	5. Derivative Contracts The Company has derivative instruments that are used for hedging activities as discussed below. The following table sets forth the notional amounts of the Company’s hedging derivative instruments as of December 31, 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 $ 702,637 $ 55,443 $ 758,080 $ 542,871 $ 215,209 $ 758,080 Interest rate swaps: Notional amount $ — $ 650,000 $ 650,000 $ 650,000 $ — $ 650,000 Average fixed interest rate 0.77 % 0.77 % 0.77 % 0.77 % The following table sets forth the notional amounts of the Company’s hedging derivative instruments as of June 30, 2023 (in thousands, except for average interest rate): Notional Amounts of Derivative Instruments Notional Amount by Term to Maturity Classification by Notional Amount Under 12 months Over 12 months Total Cash Flow Hedge Non Hedge Total Forward contracts $ 849,811 $ 35,181 $ 884,992 $ 532,059 $ 352,933 $ 884,992 Interest rate swaps: Notional amount $ — $ 650,000 $ 650,000 $ 650,000 $ — $ 650,000 Average fixed interest rate 0.81 % 0.81 % 0.81 % 0.81 % The fair value of the Company’s derivative instruments were as follows (in thousands): Balance Sheet Location December 31, 2023 June 30, 2023 Derivative assets Derivatives designated as hedging instruments: Foreign exchange forward contracts Prepaid expenses and other current assets $ 12,393 $ 3,177 Foreign exchange forward contracts Other non-current assets 2,069 — Interest rate swaps Prepaid expenses and other current assets 26,097 28,926 Interest rate swaps Other non-current assets 14,887 28,215 Derivatives not designated as hedging instruments: Foreign exchange forward contracts Prepaid expenses and other current assets 2,546 3,892 Total derivative assets $ 57,992 $ 64,210 Derivative liabilities Derivatives designated as hedging instruments: Foreign exchange forward contracts Accrued expenses and other current liabilities $ 1,599 $ 9,657 Foreign exchange forward contracts Other non-current liabilities 62 209 Derivatives not designated as hedging instruments: Foreign exchange forward contracts Accrued expenses and other current liabilities 187 248 Total derivative liabilities $ 1,848 $ 10,114 The pre-tax effects of derivatives designated as cash flow hedging instruments on the condensed consolidated financial statements were as follows (in thousands): Three Months Ended December 31, Six Months Ended December 31, 2023 2022 2023 2022 Beginning balance of accumulated gains in accumulated other comprehensive loss $ 35,583 $ 28,471 $ 48,170 $ 24,502 Gross unrealized gains recognized in other comprehensive loss 17,413 21,881 9,343 22,167 Net losses (gains) reclassified from cash flow hedge in accumulated other comprehensive income into profit or loss: Recognized in cost of revenues 533 611 976 1,125 Recognized in research and development 3,738 8,386 5,202 11,865 Recognized in marketing and sales 531 366 901 772 Recognized in general and administrative 1,079 2,149 1,779 3,730 Recognized in interest expense (7,571) (4,638) (15,065) (6,935) Ending balance of accumulated gains in accumulated other comprehensive income $ 51,306 $ 57,226 $ 51,306 $ 57,226

Property and Equipment

Property and Equipment	6 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Property and Equipment	6. Property and Equipment Property and equipment, net consisted of the following (in thousands): December 31, 2023 June 30, 2023 Equipment $ 10,582 $ 9,298 Computer hardware and software 35,279 29,801 Furniture and fittings 25,660 24,773 Leasehold improvements and other 126,217 123,125 Property and equipment, gross 197,738 186,997 Less: accumulated depreciation and impairment (119,643) (105,595) Property and equipment, net $ 78,095 $ 81,402 Depreciation expense was $7.2 million for the three months ended December 31, 2023 and 2022, and $14.0 million and $13.5 million

Business Combinations

Business Combinations	6 Months Ended
	Dec. 31, 2023
Business Combination and Asset Acquisition [Abstract]
Business Combinations	7. Business Combinations Loom, Inc On November 30, 2023, the Company acquired 100% of the outstanding equity of Loom, Inc. (“Loom”), an asynchronous video messaging platform that helps users communicate through instantly shareable videos. The acquisition of Loom will further elevate the collaboration experience of Atlassian customers. Total purchase price consideration for Loom was approximately $885.6 million and consisted of cash. The Company has included the financial results of Loom in its condensed consolidated financial statements from the date of acquisition, which were not material for the three and six months ended December 31, 2023. Pro forma results of operations have not been presented for the three and six months ended December 31, 2023 and 2022 because the effect of the acquisition was not material to our condensed consolidated financial statements. The following table summarizes the preliminary fair values of assets acquired and liabilities assumed as of the date of acquisition (in thousands): Fair Value Cash and cash equivalents $ 59,265 Marketable securities 43,494 Intangible assets, net 272,300 Goodwill 544,828 Other assets 3,941 Deferred revenue, current portion (16,145) Deferred tax liabilities (15,668) Other liabilities (6,391) Net assets acquired $ 885,624 The excess of purchase consideration over the fair value of assets acquired and liabilities assumed was recorded as goodwill. The resulting goodwill is primarily attributed to the assembled workforce and expanded market opportunities, including integrating the Loom product offering with existing Company services to enhance asynchronous collaboration among distributed teams. The goodwill is not deductible in the U.S. for income tax purposes. The fair values assigned to assets acquired and liabilities assumed are preliminary based on management’s estimates and assumptions and may be subject to change as additional information is received. The primary areas that remain preliminary relate to the fair values of certain intangible assets acquired, certain tangible assets and liabilities acquired, contingencies as of the acquisition date, income tax, including deferred taxes, and residual goodwill. The Company expects to finalize the valuation not later than one year from the acquisition date. The following table sets forth the components of identifiable intangible assets acquired and their estimated useful lives as of the date of acquisition: Fair Value Useful Life Developed technology $ 230,000 7 Trade name 37,000 8 Other purchased intangible assets 5,300 5 Developed technology represents the estimated fair value of Loom’s asynchronous video technology. Trade name represents the estimated fair value of the Loom trade name. In connection with the transaction, the Company granted $30.2 million worth of replacement awards in the form of Atlassian restricted stock units ("RSU") to Loom employees and $54.7 million worth of restricted stock awards to certain key Loom employees. The fair value of the replacement awards and restricted stock awards was based on the stock price of the Company on the grant date. Both the replacement awards and restricted stock awards are subject to future vesting provisions based on service conditions and the related cost is accounted for as stock-based compensation. Other fiscal year 2024 business combination On October 4, 2023, the Company acquired 100% of the outstanding equity of a privately-held company in Australia that developed an IT asset discovery and data management tool, primarily to expand our product and service offerings. This transaction was accounted for as a business combination and was not material to the Company’s condensed consolidated financial statements.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	6 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	8. Goodwill and Intangible Assets Goodwill Goodwill represents the excess of the purchase price in a business combination over the fair value of net tangible and intangible assets acquired. Goodwill amounts are not amortized, but rather are tested for impairment at least annually during the fourth quarter, or when indicators of impairment exist. Goodwill consisted of the following (in thousands): Goodwill Balance as of June 30, 2023 $ 727,211 Additions 558,224 Effect of change in exchange rates 461 Balance as of December 31, 2023 $ 1,285,896 Intangible Assets Intangible assets consisted of the following (in thousands): December 31, 2023 June 30, 2023 Weighted-Average Remaining Useful Lives Acquired developed technology $ 470,662 $ 235,818 7 Patents, trade names, and other rights 70,393 33,393 7 Customer relationships 135,687 129,502 4 Intangible assets, gross 676,742 398,713 Less: accumulated amortization (347,732) (329,641) Intangible assets, net $ 329,010 $ 69,072 Amortization expense for intangible assets was approximately $9.9 million and $8.3 million for the three months ended December 31, 2023 and 2022, respectively and $18.1 million and $16.6 million for the six months ended December 31, 2023 and 2022, respectively. The following table presents the estimated future amortization expense related to intangible assets held as of December 31, 2023 (in thousands): Fiscal Years: Remainder of 2024 $ 31,581 2025 54,903 2026 52,365 2027 47,534 2028 44,968 Thereafter 97,659 Total future amortization expense $ 329,010

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	6 Months Ended
	Dec. 31, 2023
Other Liabilities Disclosure [Abstract]
Accrued Expenses and Other Current Liabilities	9. Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consist of the following (in thousands): December 31, 2023 June 30, 2023 Accrued expenses $ 143,909 $ 107,479 Employee benefits 210,815 191,801 Tax liabilities 25,891 88,748 Customer deposits 15,494 11,784 Derivative liabilities 1,786 9,905 Other payables 12,482 13,414 Total accrued expenses and other current liabilities $ 410,377 $ 423,131

Debt

Debt	6 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Debt	10. Debt Credit Facility In October 2020, the Company’s principal U.S. operating subsidiary, 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. The Credit Facility bears interest, at the Company’s option, at a base rate plus a margin up to 0.50% or the Secured Overnight Financing Rate, plus a credit spread adjustment of 0.10%, plus a spread of 0.875% to 1.50%, in each case with such margin being determined by the Company’s consolidated leverage ratio. The Revolving Credit Facility 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 originally drew $1 billion in fiscal year 2022 under the Term Loan Facility. During the three months ended December 31, 2023, the Company made a required repayment of $12.5 million. As of December 31, 2023, $987.5 million was outstanding 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 December 31, 2023, the Company was in compliance with all related covenants.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	11. Commitments and Contingencies Noncancellable Purchase Obligations The Company has contractual commitments for services with third-parties related to its cloud services platform and other infrastructure services. These commitments are non-cancellable and expire within one Operating Leases There were no material changes to the Company’s operating lease arrangements and future lease payments under non-cancelable operating leases including obligations for leases that have not yet commenced disclosed in Note 11, “ Leases, ” of the Company’s Annual Report on Form 10-K for fiscal year 2023. Supplemental information related to operating leases were as follows (in thousands): Three Months Ended December 31, Six Months Ended December 31, 2023 2022 2023 2022 Operating lease costs, excluding short-term lease costs and variable lease costs $ 10,289 $ 13,143 $ 20,606 $ 26,337 Right-of-use assets obtained in exchange for new operating lease liabilities $ 15,928 $ — $ 21,953 $ 1,279 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. The defendants moved to dismiss, and the court held a hearing on January 10, 2024. On January 22, 2024, the court issued a ruling granting the defendants’ motion to dismiss, and providing the plaintiffs until February 12, 2024 to file an amended complaint. In March, April and August 2023, three stockholder derivative lawsuits were filed in the U.S. District Court for the District of Delaware against the members of the Company’s board of directors and certain of its officers, captioned Silva v. Cannon-Brookes , Case No. 1:23-cv-00283; Keane v. Cannon-Brookes , Case No. 1:23-cv-00399; and Azzawi v. Cannon-Brookes , Case No. 1:23-cv-00884. The Company is named as a nominal defendant. These stockholder derivative lawsuits are based largely on the same allegations as the Putative Class Action, including allegations relating to the Company’s disclosures during the Class Period as well as, in certain instances, alleged insider trading. The lawsuits purport to assert claims for, among other things, breach of fiduciary duty, corporate waste, unjust enrichment, and violations of Section 10(b) of the Exchange Act, and Rule 10b-5 promulgated thereunder. The complaints seek unspecified damages and other relief purportedly on the Company’s behalf. In May and August 2023, the Court consolidated the Silva, Keane, and Azzawi actions into In re Atlassian Corporation Stockholder Derivative Litigation , Case No. 1:23-cv-00283-GBW (the “Consolidated Action”), and stayed the Consolidated Action pending resolution of any motion(s) to dismiss in the Putative Class Action. On September 6, 2023, a stockholder derivative lawsuit was filed in the U.S. District Court for the Northern District of California against the members of the Company’s board of directors and certain of its officers, captioned Capistrano v. Cannon-Brookes, Case No. 4:23-cv-04584 (the “Capistrano Action”). The Company is named as a nominal defendant. The complaint is based largely on the same allegations as the Putative Class Action and the Consolidated Action, including allegations relating to the Company’s disclosures during the Class Period as well as, in certain instances, alleged insider trading. The lawsuits purport to assert claims for, among other things, breach of fiduciary duty, corporate waste, unjust enrichment, and violations of Section 10(b) of the Exchange Act, and Rule 10b-5 promulgated thereunder. The complaints seek unspecified damages and other relief purportedly on the Company’s behalf. On October 31, 2023, the Court stayed the Capistrano Action pending resolution of any motion(s) to dismiss in the Putative Class Action. The defendants have denied and intend to continue to deny the allegations of wrongdoing and vigorously defend against the claims in each of the Putative Class Action, the Consolidated Action, and the Capistrano Action. In addition to the matters discussed above, from time to time, the Company is party to litigation and other legal proceedings in the ordinary course of business. While the Company does not believe the ultimate 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 condensed consolidated financial statements. Indemnification Provisions The Company’s agreements include provisions indemnifying customers against intellectual property and other third-party claims. In addition, the Company has entered into indemnification agreements with its directors, executive officers and certain other officers that will require the Company to, among other things, indemnify these individuals for certain liabilities that may arise as a result of their affiliation with the Company. For the periods presented, the Company has not incurred any costs as a result of such indemnification obligations and has not recorded any liabilities related to such obligations in the condensed consolidated financial statements.

Revenue

Revenue	6 Months Ended
	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Revenue	12. 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 December 31, 2023, approximately $1.9 billion of revenue is expected to be recognized from the transaction price allocated to remaining performance obligations. The Company expects to recognize revenue on approximately 80% 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): Three Months Ended December 31, Six Months Ended December 31, 2023 2022 2023 2022 Americas United States $ 445,622 $ 373,976 $ 871,813 $ 731,724 Other Americas 68,812 55,733 132,149 107,906 Total Americas $ 514,434 $ 429,709 $ 1,003,962 $ 839,630 EMEA 425,292 343,770 803,298 648,048 Asia Pacific 120,384 99,225 230,625 192,418 Total revenues $ 1,060,110 $ 872,704 $ 2,037,885 $ 1,680,096 The Company provides different deployment options for its product offerings. Cloud offerings provide customers the right to use the Company’s software in a cloud-based infrastructure that the Company provides. Data Center offerings are on-premises term license agreements for the Company’s Data Center products, which are software licensed for a specified period, and include support and maintenance services that are bundled with the license for the term of the license period. Server offerings include the license of software on a perpetual basis to customers for use on the customer’s premises and support and maintenance services. Marketplace and other 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 the Company’s condensed consolidated statements of operations. The revenues from Server offerings consists of revenue from maintenance services since the Company no longer sells perpetual licenses for its Server offerings. The Company will generally end maintenance and support for these Server offerings in February 2024. The Company’s revenues by deployment options are as follows (in thousands): Three Months Ended December 31, Six Months Ended December 31, 2023 2022 2023 2022 Cloud $ 653,210 $ 512,335 $ 1,257,857 $ 987,378 Data Center 274,758 194,264 517,701 365,492 Server 69,173 106,168 147,925 219,981 Marketplace and other 62,969 59,937 114,402 107,245 Total revenues $ 1,060,110 $ 872,704 $ 2,037,885 $ 1,680,096 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): Three Months Ended December 31, Six Months Ended December 31, 2023 2022 2023 2022 Balance, beginning of period $ 1,501,081 $ 1,172,834 $ 1,545,479 $ 1,182,680 Additions 1,212,912 973,951 2,146,289 1,771,497 Revenue (1,060,110) (872,704) (2,037,885) (1,680,096) Balance, end of period $ 1,653,883 $ 1,274,081 $ 1,653,883 $ 1,274,081 For the three months ended December 31, 2023 and 2022, approximately 38% and 36% of revenue recognized was from the deferred revenue balances at the beginning of each fiscal year, respectively. For the six months ended December 31, 2023 and 2022, approximately 48% and 46% 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): Three Months Ended December 31, Six Months Ended December 31, 2023 2022 2023 2022 Balance, beginning of period $ 54,530 $ 29,729 $ 53,604 $ 27,141 Additions 20,365 11,286 26,479 16,415 Amortization expense (5,792) (3,027) (10,980) (5,568) Balance, end of period $ 69,103 $ 37,988 $ 69,103 $ 37,988 Deferred contract acquisition costs included in: Prepaid expenses and other current assets $ 24,047 $ 12,466 Other non-current assets 45,056 25,522 Total $ 69,103 $ 37,988 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.

Stockholder's Equity

Stockholder's Equity	6 Months Ended
	Dec. 31, 2023
Equity [Abstract]
Stockholders' Equity	13. Stockholders’ Equity Stock-based Compensation A summary of RSU activity for the six months ended December 31, 2023 was as follows (in thousands except share and per share data): Number of Shares Weighted Average Grant Date Fair Value Aggregate Intrinsic Value Balance as of June 30, 2023 9,562,918 $ 235.16 $ 1,604,753 Granted 7,772,723 201.65 — Vested (2,419,302) 226.22 448,159 Forfeited or cancelled (890,628) 229.75 — Balance as of December 31, 2023 14,025,711 $ 218.47 $ 3,336,156 As of December 31, 2023, total compensation cost not yet recognized in the condensed consolidated financial statements related to employee and director RSU awards was $2.3 billion, which is expected to be recognized over a weighted-average period of 1.8 years. During the six months ended December 31, 2023, the Company granted 301,751 shares of restricted stock awards. During the six months ended December 31, 2022, the Company did not grant any shares of restricted stock awards. As of December 31, 2023 and June 30, 2023, there were 302,281 and 6,131 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 $71.9 million and $1.0 million as of December 31, 2023 and June 30, 2023, respectively. 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”). During the three and six months ended December 31, 2023, the Company repurchased and subsequently retired approximately 0.5 million and 0.9 million shares of its Class A Common Stock for approximately $98.1 million and $163.5 million at an average price per share of $185.34 and $186.03, respectively. All repurchases were made in open market transactions. As of December 31, 2023, the Company was authorized to purchase a remaining $682.4 million of its Class A Common Stock under the Share Repurchase Program.

Net Loss Per Share

Net Loss Per Share	6 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
Net Loss Per Share	14. Net Loss Per Share The Company computes net loss per share of Class A and Class B Common Stock using the two-class method. As the liquidation and dividend rights for both Class A and Class B Common Stock are identical, the net loss is allocated on a proportionate basis to the weighted-average number of shares of common stock outstanding for the period. Basic net loss per share attributable to Class A and Class B stockholders is computed by dividing the net loss by the weighted-average number of Class A and Class B Common Stock outstanding during the period. For the calculation of diluted net loss per share, net loss for basic earnings per share is adjusted by the effect of dilutive securities, including awards under the Company’s equity compensation plans. The dilutive potential shares of common stock are computed using the treasury stock method or the as-if converted method, as applicable. Since the Company is in a loss position for all periods reported, basic and diluted net loss per share are the same for all periods as the inclusion of potential dilutive shares would have been anti-dilutive. The following tables present the calculation of basic and diluted net loss per share attributable to common stockholders (in thousands, except per share data): Three Months Ended December 31, Six Months Ended December 31, 2023 2022 2023 2022 Class A Class B Class A Class B Class A Class B Class A Class B Numerator: Net loss $ (50,806) $ (33,663) $ (119,094) $ (85,937) $ (69,685) $ (46,667) $ (126,357) $ (92,415) Denominator: Weighted-average shares outstanding, basic and diluted 155,543 103,058 148,627 107,247 154,672 103,582 147,582 107,938 Net loss per share, basic and diluted $ (0.33) $ (0.33) $ (0.80) $ (0.80) $ (0.45) $ (0.45) $ (0.86) $ (0.86) 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): Three Months Ended December 31, Six Months Ended December 31, 2023 2022 2023 2022 Class A Common Stock options — — — 1 Class A Common Stock restricted stock units 9,806 9,167 8,317 6,976 Class A Common Stock restricted stock awards 5 17 5 24 Total 9,811 9,184 8,322 7,001

Income Taxes

Income Taxes	6 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	15. Income Taxes The Company computes its provision for income taxes by applying the estimated annual effective tax rate to year-to-date ordinary income and adjusts the provision for discrete tax items recorded in the period. In each quarter, the Company updates the estimated annual effective tax rate and makes a year-to-date adjustment to the provision. The estimated annual effective tax rate is subject to volatility due to several factors, including changes in the Company’s domestic and foreign earnings, current cash taxes in jurisdictions with full valuation allowances, material discrete tax items, or a combination of these factors as a result of certain transactions or events. The Company reported an income tax provision of $44.4 million on pretax loss of $40.1 million and an income tax provision of $65.3 million on pretax loss of $51.1 million for the three and six months ended December 31, 2023, respectively, as compared to an income tax provision of $100.5 million on pretax loss of $104.5 million and an income tax provision of $108.5 million on pretax loss of $110.2 million for the three and six months ended December 31, 2022, respectively. The income tax provision for the three and six months ended December 31, 2023 reflects a decrease in tax expense primarily attributable to a decrease in the recognition of reserves for uncertain tax positions and the partial release of valuation allowance of certain U.S. federal and state deferred tax assets as a result of the addition of deferred tax liabilities acquired from Loom, see Note 7, “Business Combinations,” for additional information . The Company’s effective tax rate substantially differed from the U.S. statutory income tax rate of 21.0% primarily due to non-deductible stock-based compensation in certain foreign jurisdictions, research and development tax credits and incentives, full valuation allowances in the U.S. and Australia, the recognition of reserves for uncertain tax positions, and different tax rates in foreign jurisdictions such as Australia. During the three months ended December 31, 2023, the Company finalized an Advanced Pricing Arrangement with the Australian Taxation Office with respect to its transfer pricing arrangements between Australia and the U.S. that covers the tax years ended June 30, 2019 to June 30, 2025. Pursuant to the terms of the agreement, the Company made a cash tax payment of approximately $60.5 million during the three months ended December 31, 2023. The Company regularly assesses the need for a valuation allowance against its deferred tax assets. The Company’s assessment is based on all positive and negative evidence related to the realizability of such deferred tax assets. Based on available objective evidence as of December 31, 2023, the Company will continue to maintain a full valuation allowance on its U.S. federal, U.S. state, and Australian deferred tax assets as it is more likely than not that these deferred tax assets will not be realized. The Company intends to maintain the full valuation allowance until sufficient positive evidence exists to support the reversal of, or decrease in, the valuation allowance.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net loss	$ (84,469)	$ (205,031)	$ (116,352)	$ (218,772)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	6 Months Ended
	Dec. 31, 2023 shares	Dec. 31, 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
Anu Bharadwaj [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	On November 20, 2023, Anu Bharadwaj, the Company’s President, 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 18,240 shares of the Company’s Class A Common Stock, pursuant to the terms of the plan, until March 14, 2025.
Name	Anu Bharadwaj,
Title	President
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	November 20, 2023
Arrangement Duration	480 days
Aggregate Available	18,240	18,240
Rajeev Rajan [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	On November 29, 2023, Rajeev Rajan, the Company’s Chief Technology Officer, adopted a Rule 10b5-1 trading arrangement that is intended to satisfy the affirmative defense of Rule 10b5-1(c) for the sale of (i) up to 5,781 shares of the Company’s Class A Common Stock, (ii) up to 50% of the shares of the Company’s Class A Common Stock issued upon the settlement of 54,511 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 50% of the shares of the Company’s Class A Common Stock issued upon the settlement of any future RSUs awarded during the plan period, net of shares sold to cover tax withholding obligations in connection with the vesting and settlement of such RSUs, in each case pursuant to the terms of the plan and until February 28, 2025.
Name	Rajeev Rajan
Title	Chief Technology Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	November 29, 2023
Arrangement Duration	457 days
Gene Liu [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	On November 30, 2023, Gene Liu, the Company’s Chief Accounting Officer, adopted a Rule 10b5-1 trading arrangement that is intended to satisfy the affirmative defense of Rule 10b5-1(c) for the sale of up to 11,978 shares of the Company’s Class A Common Stock, pursuant to the terms of the plan, until February 28, 2025.
Name	Gene Liu
Title	Chief Accounting Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	November 30, 2023
Arrangement Duration	456 days
Aggregate Available	11,978	11,978
Rajeev Rajan Trading Arrangement, Common Stock [Member] | Rajeev Rajan [Member]
Trading Arrangements, by Individual
Aggregate Available	5,781	5,781
Rajeev Rajan Trading Arrangement, Restricted Stock Units (RSU) [Member] | Rajeev Rajan [Member]
Trading Arrangements, by Individual
Aggregate Available	54,511	54,511

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Basis of preparation	The accompanying condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). These principles are established primarily by the Financial Accounting Standards Board (“FASB”)
Principles of consolidation	The accompanying condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation.
Use of estimates	The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make certain estimates and assumptions in the Company’s condensed consolidated financial statements. These estimates are based on information available as of the date of the condensed consolidated financial statements. 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 of performance obligations for revenue contracts with multiple performance obligations, useful lives and impairment of long-lived assets, valuation of intangible assets, valuation of strategic investments and income taxes. Actual results could differ materially from these estimates.
Concentration of Credit Risk and Significant Customers	Financial instruments potentially exposing the Company to credit risk consist primarily of cash, cash equivalents, accounts receivable, derivative contracts and investments. The Company holds cash at financial institutions that management believes are high credit, quality financial institutions and invests in investment grade securities rated A- and above. The Company’s derivative contracts expose it to credit risk to the extent that the counterparties may be unable to meet the terms of the arrangement. The Company enters into master netting agreements with select financial institutions to reduce its credit risk and trades with several counterparties to reduce its concentration risk with any single counterparty. The Company does not have significant exposure to counterparty credit risk at this time. In addition, the Company does not require nor is required to post collateral of any kind related to any foreign currency derivatives.
New Accounting Standards Not Yet Adopted	In June 2022, the FASB issued Accounting Standards Update (“ASU”) No. 2022-03 “Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restriction.” This ASU clarifies that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring fair value. This amendment also requires public entities to add certain disclosures for equity securities subject to contractual sale restrictions. This ASU is effective for fiscal years beginning after December 15, 2023. The Company is currently evaluating the impact of the new guidance on its consolidated financial statements. In November 2023, the FASB issued ASU No. 2023-07 “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.” This ASU expands public entities’ segment disclosures by requiring disclosure of significant segment expenses that are regularly provided to the chief operating decision maker and included within each reported measure of segment profit or loss, an amount and description of its composition for other segment items, and interim disclosures of a reportable segment’s profit or loss and assets. All disclosure requirements under ASU 2023-07 are also required for public entities with a single reportable segment. This ASU is effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024 with early adoption permitted and requires retrospective application to all prior periods. The Company is currently evaluating the impact of the new guidance on its consolidated financial statements. In December 2023, the FASB issued ASU No. 2023-09 “Income Taxes (Topic 740): Improvements to Income Tax Disclosures.”

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Dec. 31, 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 December 31, 2023, by the 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 $ 782,695 $ — $ 782,695 Commercial paper — 7,546 7,546 Corporate debt securities — 2,995 2,995 Marketable securities: U.S. treasury securities — 38,835 38,835 Agency securities — 2,972 2,972 Certificates of deposit and time deposits — 10,000 10,000 Commercial paper — 43,243 43,243 Corporate debt securities — 55,781 55,781 Derivative financial instruments — 57,992 57,992 Total assets measured at fair value $ 782,695 $ 219,364 $ 1,002,059 Liabilities measured at fair value Derivative financial instruments $ — $ 1,848 $ 1,848 Total liabilities measured at fair value $ — $ 1,848 $ 1,848 The following table presents the Company’s financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2023, by level within the fair value hierarchy (in thousands): Level 1 Level 2 Total Assets measured at fair value Cash and cash equivalents: Money market funds $ 1,338,509 $ — $ 1,338,509 Marketable securities: Certificates of deposit and time deposits — 10,000 10,000 Derivative financial instruments — 64,210 64,210 Strategic investments: Publicly traded equity securities 19,365 — 19,365 Total assets measured at fair value $ 1,357,874 $ 74,210 $ 1,432,084 Liabilities measured at fair value Derivative financial instruments $ — $ 10,114 $ 10,114 Total liabilities measured at fair value $ — $ 10,114 $ 10,114

Investments (Tables)

Investments (Tables)	6 Months Ended
	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Schedule of Available-for-Sale Securities Reconciliation	The Company’s investments of marketable securities as of December 31, 2023, consisted of the following (in thousands): Amortized Cost Unrealized Gains Unrealized Losses Fair Value U.S. treasury securities $ 38,820 $ 15 $ — $ 38,835 Agency securities 2,972 — — 2,972 Certificates of deposit and time deposits 10,000 — — 10,000 Commercial paper 43,243 — — 43,243 Corporate debt securities 55,765 25 (9) 55,781 Total marketable securities $ 150,800 $ 40 $ (9) $ 150,831 The Company’s investments of marketable securities as of June 30, 2023, consisted of the following (in thousands): Amortized Cost Unrealized Gains Unrealized Losses Fair Value Certificates of deposit and time deposits $ 10,000 $ — $ — $ 10,000 Total marketable securities $ 10,000 $ — $ — $ 10,000
Investments Classified by Contractual Maturity Date	The table below summarizes the Company’s marketable securities by remaining contractual maturity based on their effective maturity dates (in thousands): December 31, 2023 June 30, 2023 Due in one year or less $ 150,831 $ 10,000
Schedule of Strategic Investments	Carrying value of privately held debt securities The Company’s investments of privately held debt securities as of December 31, 2023, consisted of the following (in thousands): Amortized Cost Unrealized Gains Unrealized Losses Fair Value Privately held debt securities $ 9,300 $ — $ (3,350) $ 5,950 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 he carrying values for privately held equity securities as of December 31, 2023 are summarized below (in thousands): Privately held equity securities Initial total cost $ 138,550 Cumulative net losses (1,840) Carrying value $ 136,710 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 Total Initial total cost $ 10,270 $ 135,050 $ 145,320 Cumulative net gains (losses) 9,095 (398) 8,697 Carrying value $ 19,365 $ 134,652 $ 154,017
Unrealized Gain (Loss) on Investments	The components of gains and losses on strategic investments were as follows (in thousands): Three Months Ended December 31, Six Months Ended December 31, 2023 2022 2023 2022 Unrealized losses recognized on publicly traded equity securities $ — $ (1,669) $ — $ (11,477) Unrealized gains recognized on privately held equity securities — 260 — 260 Unrealized losses recognized on privately held equity securities including impairment (1,442) (5,927) (1,442) (7,642) Unrealized losses, net $ (1,442) $ (7,336) $ (1,442) $ (18,859) Realized gains recognized on sales of publicly traded equity securities — — 515 — Realized losses on debt securities — (212) — (212) Losses on strategic investments, net $ (1,442) $ (7,548) $ (927) $ (19,071) Unrealized losses recognized during the reporting period on privately held equity securities still held at the reporting date $ (1,442) $ (5,667) $ (1,442) $ (7,382)
Equity Method Investments	The following table sets forth the carrying amounts of the equity method investment and the movements during the six months ended December 31, 2023 (in thousands): Equity Method Investment Balance as of June 30, 2023 $ 85,436 Share of losses (6,762) Effect of change in exchange rates 2,071 Balance as of December 31, 2023 $ 80,745

Derivative Contracts (Tables)

Derivative Contracts (Tables)	6 Months Ended
	Dec. 31, 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 December 31, 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 $ 702,637 $ 55,443 $ 758,080 $ 542,871 $ 215,209 $ 758,080 Interest rate swaps: Notional amount $ — $ 650,000 $ 650,000 $ 650,000 $ — $ 650,000 Average fixed interest rate 0.77 % 0.77 % 0.77 % 0.77 % The following table sets forth the notional amounts of the Company’s hedging derivative instruments as of June 30, 2023 (in thousands, except for average interest rate): Notional Amounts of Derivative Instruments Notional Amount by Term to Maturity Classification by Notional Amount Under 12 months Over 12 months Total Cash Flow Hedge Non Hedge Total Forward contracts $ 849,811 $ 35,181 $ 884,992 $ 532,059 $ 352,933 $ 884,992 Interest rate swaps: Notional amount $ — $ 650,000 $ 650,000 $ 650,000 $ — $ 650,000 Average fixed interest rate 0.81 % 0.81 % 0.81 % 0.81 %
Schedule of Fair Value of Derivative Instruments	The fair value of the Company’s derivative instruments were as follows (in thousands): Balance Sheet Location December 31, 2023 June 30, 2023 Derivative assets Derivatives designated as hedging instruments: Foreign exchange forward contracts Prepaid expenses and other current assets $ 12,393 $ 3,177 Foreign exchange forward contracts Other non-current assets 2,069 — Interest rate swaps Prepaid expenses and other current assets 26,097 28,926 Interest rate swaps Other non-current assets 14,887 28,215 Derivatives not designated as hedging instruments: Foreign exchange forward contracts Prepaid expenses and other current assets 2,546 3,892 Total derivative assets $ 57,992 $ 64,210 Derivative liabilities Derivatives designated as hedging instruments: Foreign exchange forward contracts Accrued expenses and other current liabilities $ 1,599 $ 9,657 Foreign exchange forward contracts Other non-current liabilities 62 209 Derivatives not designated as hedging instruments: Foreign exchange forward contracts Accrued expenses and other current liabilities 187 248 Total derivative liabilities $ 1,848 $ 10,114
Schedule of Pre-Tax Effects of Derivatives Designated as Cash Flow Hedging Instruments	The pre-tax effects of derivatives designated as cash flow hedging instruments on the condensed consolidated financial statements were as follows (in thousands): Three Months Ended December 31, Six Months Ended December 31, 2023 2022 2023 2022 Beginning balance of accumulated gains in accumulated other comprehensive loss $ 35,583 $ 28,471 $ 48,170 $ 24,502 Gross unrealized gains recognized in other comprehensive loss 17,413 21,881 9,343 22,167 Net losses (gains) reclassified from cash flow hedge in accumulated other comprehensive income into profit or loss: Recognized in cost of revenues 533 611 976 1,125 Recognized in research and development 3,738 8,386 5,202 11,865 Recognized in marketing and sales 531 366 901 772 Recognized in general and administrative 1,079 2,149 1,779 3,730 Recognized in interest expense (7,571) (4,638) (15,065) (6,935) Ending balance of accumulated gains in accumulated other comprehensive income $ 51,306 $ 57,226 $ 51,306 $ 57,226

Property and Equipment (Tables)

Property and Equipment (Tables)	6 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Property and Equipment, Net	Property and equipment, net consisted of the following (in thousands): December 31, 2023 June 30, 2023 Equipment $ 10,582 $ 9,298 Computer hardware and software 35,279 29,801 Furniture and fittings 25,660 24,773 Leasehold improvements and other 126,217 123,125 Property and equipment, gross 197,738 186,997 Less: accumulated depreciation and impairment (119,643) (105,595) Property and equipment, net $ 78,095 $ 81,402

Business Combinations (Tables)

Business Combinations (Tables)	6 Months Ended
	Dec. 31, 2023
Business Combination and Asset Acquisition [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following table summarizes the preliminary fair values of assets acquired and liabilities assumed as of the date of acquisition (in thousands): Fair Value Cash and cash equivalents $ 59,265 Marketable securities 43,494 Intangible assets, net 272,300 Goodwill 544,828 Other assets 3,941 Deferred revenue, current portion (16,145) Deferred tax liabilities (15,668) Other liabilities (6,391) Net assets acquired $ 885,624
Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination	The following table sets forth the components of identifiable intangible assets acquired and their estimated useful lives as of the date of acquisition: Fair Value Useful Life Developed technology $ 230,000 7 Trade name 37,000 8 Other purchased intangible assets 5,300 5

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	6 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	Goodwill consisted of the following (in thousands): Goodwill Balance as of June 30, 2023 $ 727,211 Additions 558,224 Effect of change in exchange rates 461 Balance as of December 31, 2023 $ 1,285,896
Schedule of Finite-Lived Intangible Assets	Intangible assets consisted of the following (in thousands): December 31, 2023 June 30, 2023 Weighted-Average Remaining Useful Lives Acquired developed technology $ 470,662 $ 235,818 7 Patents, trade names, and other rights 70,393 33,393 7 Customer relationships 135,687 129,502 4 Intangible assets, gross 676,742 398,713 Less: accumulated amortization (347,732) (329,641) Intangible assets, net $ 329,010 $ 69,072
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	The following table presents the estimated future amortization expense related to intangible assets held as of December 31, 2023 (in thousands): Fiscal Years: Remainder of 2024 $ 31,581 2025 54,903 2026 52,365 2027 47,534 2028 44,968 Thereafter 97,659 Total future amortization expense $ 329,010

Accrued Expenses and Other Cu_2

Accrued Expenses and Other Current Liabilities (Tables)	6 Months Ended
	Dec. 31, 2023
Other Liabilities Disclosure [Abstract]
Accrued Expenses and Other Current Liabilities	Accrued expenses and other current liabilities consist of the following (in thousands): December 31, 2023 June 30, 2023 Accrued expenses $ 143,909 $ 107,479 Employee benefits 210,815 191,801 Tax liabilities 25,891 88,748 Customer deposits 15,494 11,784 Derivative liabilities 1,786 9,905 Other payables 12,482 13,414 Total accrued expenses and other current liabilities $ 410,377 $ 423,131

Commitment and Contingencies (T

Commitment and Contingencies (Tables)	6 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Lease, Cost	Supplemental information related to operating leases were as follows (in thousands): Three Months Ended December 31, Six Months Ended December 31, 2023 2022 2023 2022 Operating lease costs, excluding short-term lease costs and variable lease costs $ 10,289 $ 13,143 $ 20,606 $ 26,337 Right-of-use assets obtained in exchange for new operating lease liabilities $ 15,928 $ — $ 21,953 $ 1,279

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Dec. 31, 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): Three Months Ended December 31, Six Months Ended December 31, 2023 2022 2023 2022 Americas United States $ 445,622 $ 373,976 $ 871,813 $ 731,724 Other Americas 68,812 55,733 132,149 107,906 Total Americas $ 514,434 $ 429,709 $ 1,003,962 $ 839,630 EMEA 425,292 343,770 803,298 648,048 Asia Pacific 120,384 99,225 230,625 192,418 Total revenues $ 1,060,110 $ 872,704 $ 2,037,885 $ 1,680,096
Revenue from External Customers by Products and Services	The Company’s revenues by deployment options are as follows (in thousands): Three Months Ended December 31, Six Months Ended December 31, 2023 2022 2023 2022 Cloud $ 653,210 $ 512,335 $ 1,257,857 $ 987,378 Data Center 274,758 194,264 517,701 365,492 Server 69,173 106,168 147,925 219,981 Marketplace and other 62,969 59,937 114,402 107,245 Total revenues $ 1,060,110 $ 872,704 $ 2,037,885 $ 1,680,096
Contract with Customer, Contract Asset, Contract Liability, and Receivable	The changes in the balances of contract balances are as follows (in thousands): Three Months Ended December 31, Six Months Ended December 31, 2023 2022 2023 2022 Balance, beginning of period $ 1,501,081 $ 1,172,834 $ 1,545,479 $ 1,182,680 Additions 1,212,912 973,951 2,146,289 1,771,497 Revenue (1,060,110) (872,704) (2,037,885) (1,680,096) Balance, end of period $ 1,653,883 $ 1,274,081 $ 1,653,883 $ 1,274,081
Capitalized Contract Cost	The changes in the balances of deferred contract acquisition costs are as follows (in thousands): Three Months Ended December 31, Six Months Ended December 31, 2023 2022 2023 2022 Balance, beginning of period $ 54,530 $ 29,729 $ 53,604 $ 27,141 Additions 20,365 11,286 26,479 16,415 Amortization expense (5,792) (3,027) (10,980) (5,568) Balance, end of period $ 69,103 $ 37,988 $ 69,103 $ 37,988 Deferred contract acquisition costs included in: Prepaid expenses and other current assets $ 24,047 $ 12,466 Other non-current assets 45,056 25,522 Total $ 69,103 $ 37,988

Stockholder's Equity (Tables)

Stockholder's Equity (Tables)	6 Months Ended
	Dec. 31, 2023
Equity [Abstract]
Schedule of Unvested Restricted Stock Units Roll Forward	A summary of RSU activity for the six months ended December 31, 2023 was as follows (in thousands except share and per share data): Number of Shares Weighted Average Grant Date Fair Value Aggregate Intrinsic Value Balance as of June 30, 2023 9,562,918 $ 235.16 $ 1,604,753 Granted 7,772,723 201.65 — Vested (2,419,302) 226.22 448,159 Forfeited or cancelled (890,628) 229.75 — Balance as of December 31, 2023 14,025,711 $ 218.47 $ 3,336,156

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	6 Months Ended
	Dec. 31, 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): Three Months Ended December 31, Six Months Ended December 31, 2023 2022 2023 2022 Class A Class B Class A Class B Class A Class B Class A Class B Numerator: Net loss $ (50,806) $ (33,663) $ (119,094) $ (85,937) $ (69,685) $ (46,667) $ (126,357) $ (92,415) Denominator: Weighted-average shares outstanding, basic and diluted 155,543 103,058 148,627 107,247 154,672 103,582 147,582 107,938 Net loss per share, basic and diluted $ (0.33) $ (0.33) $ (0.80) $ (0.80) $ (0.45) $ (0.45) $ (0.86) $ (0.86)
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The potential weighted average dilutive securities that were not included in the dilutive earnings per share calculation because the effect would be anti-dilutive are as follows (shares in thousands): Three Months Ended December 31, Six Months Ended December 31, 2023 2022 2023 2022 Class A Common Stock options — — — 1 Class A Common Stock restricted stock units 9,806 9,167 8,317 6,976 Class A Common Stock restricted stock awards 5 17 5 24 Total 9,811 9,184 8,322 7,001

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Measured at Fair Value (Details) - USD ($)	Dec. 31, 2023	Jun. 30, 2023
Liabilities measured at fair value
Derivative financial instruments	$ 1,786,000	$ 9,905,000
U.S. treasury securities
Assets measured at fair value
Marketable securities:	38,835,000
Certificates of deposit and time deposits
Assets measured at fair value
Marketable securities:	10,000,000	10,000,000
Commercial paper
Assets measured at fair value
Marketable securities:	43,243,000
Fair Value, Recurring
Assets measured at fair value
Derivative financial instruments	57,992,000	64,210,000
Publicly traded equity securities		19,365,000
Total assets measured at fair value	1,002,059,000	1,432,084,000
Liabilities measured at fair value
Derivative financial instruments	1,848,000	10,114,000
Total liabilities measured at fair value	1,848,000	10,114,000
Fair Value, Recurring | U.S. treasury securities
Assets measured at fair value
Marketable securities:	38,835,000
Fair Value, Recurring | Agency securities
Assets measured at fair value
Marketable securities:	2,972,000
Fair Value, Recurring | Certificates of deposit and time deposits
Assets measured at fair value
Marketable securities:	10,000,000	10,000,000
Fair Value, Recurring | Commercial paper
Assets measured at fair value
Marketable securities:	43,243,000
Fair Value, Recurring | Corporate debt securities
Assets measured at fair value
Marketable securities:	55,781,000
Fair Value, Recurring | Money market funds
Assets measured at fair value
Cash and cash equivalents:	782,695,000	1,338,509,000
Fair Value, Recurring | Commercial paper
Assets measured at fair value
Cash and cash equivalents:	7,546,000
Fair Value, Recurring | Corporate debt securities
Assets measured at fair value
Cash and cash equivalents:	2,995,000
Fair Value, Recurring | Level 1
Assets measured at fair value
Derivative financial instruments	0	0
Publicly traded equity securities		19,365,000
Total assets measured at fair value	782,695,000	1,357,874,000
Liabilities measured at fair value
Derivative financial instruments	0	0
Total liabilities measured at fair value	0	0
Fair Value, Recurring | Level 1 | U.S. treasury securities
Assets measured at fair value
Marketable securities:	0
Fair Value, Recurring | Level 1 | Agency securities
Assets measured at fair value
Marketable securities:	0
Fair Value, Recurring | Level 1 | Certificates of deposit and time deposits
Assets measured at fair value
Marketable securities:	0	0
Fair Value, Recurring | Level 1 | Commercial paper
Assets measured at fair value
Marketable securities:	0
Fair Value, Recurring | Level 1 | Corporate debt securities
Assets measured at fair value
Marketable securities:	0
Fair Value, Recurring | Level 1 | Money market funds
Assets measured at fair value
Cash and cash equivalents:	782,695,000	1,338,509,000
Fair Value, Recurring | Level 1 | Commercial paper
Assets measured at fair value
Cash and cash equivalents:	0
Fair Value, Recurring | Level 1 | Corporate debt securities
Assets measured at fair value
Cash and cash equivalents:	0
Fair Value, Recurring | Level 2
Assets measured at fair value
Derivative financial instruments	57,992,000	64,210,000
Publicly traded equity securities		0
Total assets measured at fair value	219,364,000	74,210,000
Liabilities measured at fair value
Derivative financial instruments	1,848,000	10,114,000
Total liabilities measured at fair value	1,848,000	10,114,000
Fair Value, Recurring | Level 2 | U.S. treasury securities
Assets measured at fair value
Marketable securities:	38,835,000
Fair Value, Recurring | Level 2 | Agency securities
Assets measured at fair value
Marketable securities:	2,972,000
Fair Value, Recurring | Level 2 | Certificates of deposit and time deposits
Assets measured at fair value
Marketable securities:	10,000,000	10,000,000
Fair Value, Recurring | Level 2 | Commercial paper
Assets measured at fair value
Marketable securities:	43,243,000
Fair Value, Recurring | Level 2 | Corporate debt securities
Assets measured at fair value
Marketable securities:	55,781,000
Fair Value, Recurring | Level 2 | Money market funds
Assets measured at fair value
Cash and cash equivalents:	0	$ 0
Fair Value, Recurring | Level 2 | Commercial paper
Assets measured at fair value
Cash and cash equivalents:	7,546,000
Fair Value, Recurring | Level 2 | Corporate debt securities
Assets measured at fair value
Cash and cash equivalents:	$ 2,995,000

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - USD ($) $ in Millions	Dec. 31, 2023	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Privately held debt and equity securities and other investments	$ 142.7	$ 140.1

Investments - Schedule of Marke

Investments - Schedule of Marketable Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Jun. 30, 2023
Marketable Securities
Debt and Equity Securities, FV-NI [Line Items]
Amortized Cost	$ 150,800	$ 10,000
Unrealized Gains	40	0
Unrealized Losses	(9)	0
Fair Value	150,831	10,000
Certificates of deposit and time deposits
Debt and Equity Securities, FV-NI [Line Items]
Amortized Cost	10,000	10,000
Unrealized Gains	0	0
Unrealized Losses	0	0
Fair Value	10,000	10,000
Privately Held Debt Securities
Debt and Equity Securities, FV-NI [Line Items]
Amortized Cost	9,300	8,800
Unrealized Gains	0	0
Unrealized Losses	(3,350)	(3,350)
Fair Value	5,950	$ 5,450
U.S. treasury securities
Debt and Equity Securities, FV-NI [Line Items]
Amortized Cost	38,820
Unrealized Gains	15
Unrealized Losses	0
Fair Value	38,835
Agency securities
Debt and Equity Securities, FV-NI [Line Items]
Amortized Cost	2,972
Unrealized Gains	0
Unrealized Losses	0
Fair Value	2,972
Commercial paper
Debt and Equity Securities, FV-NI [Line Items]
Amortized Cost	43,243
Unrealized Gains	0
Unrealized Losses	0
Fair Value	43,243
Corporate debt securities
Debt and Equity Securities, FV-NI [Line Items]
Amortized Cost	55,765
Unrealized Gains	25
Unrealized Losses	(9)
Fair Value	$ 55,781

Investments - Schedule of Mar_2

Investments - Schedule of Marketable Debt Securities by Remaining Contractual Maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Jun. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Due in one year or less	$ 150,831	$ 10,000

Investments - Carrying Values f

Investments - Carrying Values for Publicly Traded and Privately Held Equity Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Jun. 30, 2023
Debt and Equity Securities, FV-NI [Line Items]
Initial total cost		$ 145,320
Cumulative net losses		8,697
Carrying value		154,017
Publicly traded equity securities
Debt and Equity Securities, FV-NI [Line Items]
Initial total cost		10,270
Cumulative net losses		9,095
Carrying value		19,365
Privately held equity securities
Debt and Equity Securities, FV-NI [Line Items]
Initial total cost	$ 138,550	135,050
Cumulative net losses	(1,840)	(398)
Carrying value	$ 136,710	$ 134,652

Investments - Gains and Losses

Investments - Gains and Losses on Strategic Investments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Unrealized losses recognized on publicly traded equity securities	$ 0	$ (1,669)	$ 0	$ (11,477)
Unrealized gains recognized on privately held equity securities	0	260	0	260
Unrealized losses recognized on privately held equity securities including impairment	(1,442)	(5,927)	(1,442)	(7,642)
Unrealized losses, net	(1,442)	(7,336)	(1,442)	(18,859)
Realized gains recognized on sales of publicly traded equity securities	0	0	515	0
Realized losses on debt securities	0	(212)	0	(212)
Losses on strategic investments, net	(1,442)	(7,548)	(927)	(19,071)
Unrealized losses recognized during the reporting period on privately held equity securities still held at the reporting date	$ (1,442)	$ (5,667)	$ (1,442)	$ (7,382)

Investments - Additional Inform

Investments - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2023	Jun. 30, 2023
Debt and Equity Securities, FV-NI [Line Items]
Downward price adjustment	$ 7.3	$ 5.9
Upward price adjustment	$ 5.5	$ 5.5
Vertical First Trust
Debt and Equity Securities, FV-NI [Line Items]
Retained minority equity interest (as a percentage)		13%

Investments - Carrying Amounts

Investments - Carrying Amounts of Equity Method Investments (Details) $ in Thousands	6 Months Ended
	Dec. 31, 2023 USD ($)
Equity Method Investments, Effect Of Foreign Currency Translation [Roll Forward]
Balance as of June 30, 2023	$ 85,436
Share of losses	(6,762)
Effect of change in exchange rates	2,071
Balance as of December 31, 2023	$ 80,745

Derivative Contracts - Notional

Derivative Contracts - Notional Amounts of Hedging Derivative Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Jun. 30, 2023
Foreign exchange forward contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount	$ 758,080	$ 884,992
Foreign exchange forward contracts | Under 12 months
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount	702,637	849,811
Foreign exchange forward contracts | Over 12 months
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount	55,443	35,181
Foreign exchange forward contracts | Cash Flow Hedge
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount	542,871	532,059
Foreign exchange forward contracts | Non Hedge
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount	215,209	352,933
Interest rate swaps
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount	$ 650,000	$ 650,000
Average interest rate	0.77%	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	0.77%	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	0.77%	0.81%
Interest rate swaps | Non Hedge
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount	$ 0	$ 0

Derivative Contracts - Fair Val

Derivative Contracts - Fair Value of Company's Derivative Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative assets	$ 57,992	$ 64,210
Derivative liabilities	1,848	10,114
Prepaid expenses and other current assets | Foreign exchange forward contracts | Cash Flow Hedge
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative assets	12,393	3,177
Prepaid expenses and other current assets | Foreign exchange forward contracts | Non Hedge
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative assets	2,546	3,892
Prepaid expenses and other current assets | Interest rate swaps | Cash Flow Hedge
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative assets	26,097	28,926
Other non-current assets | Foreign exchange forward contracts | Cash Flow Hedge
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative assets	2,069	0
Other non-current assets | Interest rate swaps | Cash Flow Hedge
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative assets	14,887	28,215
Accrued expenses and other current liabilities | Foreign exchange forward contracts | Cash Flow Hedge
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative liabilities	1,599	9,657
Accrued expenses and other current liabilities | Foreign exchange forward contracts | Non Hedge
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative liabilities	187	248
Other non-current liabilities | Foreign exchange forward contracts | Cash Flow Hedge
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative liabilities	$ 62	$ 209

Derivative Contracts - Pre-Tax

Derivative Contracts - Pre-Tax Effects of Derivatives Designated as Cash Flow Hedging Instruments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Derivative Instruments, Pre-Tax Effects Of Derivatives Designated As Cash Flow Hedging Instruments [Roll Forward]
Beginning balance of accumulated gains in accumulated other comprehensive loss	$ 35,583	$ 28,471	$ 48,170	$ 24,502
Gross unrealized gains recognized in other comprehensive loss	17,413	21,881	9,343	22,167
Ending balance of accumulated gains in accumulated other comprehensive income	51,306	57,226	51,306	57,226
Recognized in cost of revenues
Derivative Instruments, Pre-Tax Effects Of Derivatives Designated As Cash Flow Hedging Instruments [Roll Forward]
Net losses (gains) reclassified from cash flow hedge in accumulated other comprehensive income into profit or loss:	533	611	976	1,125
Recognized in research and development
Derivative Instruments, Pre-Tax Effects Of Derivatives Designated As Cash Flow Hedging Instruments [Roll Forward]
Net losses (gains) reclassified from cash flow hedge in accumulated other comprehensive income into profit or loss:	3,738	8,386	5,202	11,865
Recognized in marketing and sales
Derivative Instruments, Pre-Tax Effects Of Derivatives Designated As Cash Flow Hedging Instruments [Roll Forward]
Net losses (gains) reclassified from cash flow hedge in accumulated other comprehensive income into profit or loss:	531	366	901	772
Recognized in general and administrative
Derivative Instruments, Pre-Tax Effects Of Derivatives Designated As Cash Flow Hedging Instruments [Roll Forward]
Net losses (gains) reclassified from cash flow hedge in accumulated other comprehensive income into profit or loss:	1,079	2,149	1,779	3,730
Recognized in interest expense
Derivative Instruments, Pre-Tax Effects Of Derivatives Designated As Cash Flow Hedging Instruments [Roll Forward]
Net losses (gains) reclassified from cash flow hedge in accumulated other comprehensive income into profit or loss:	$ (7,571)	$ (4,638)	$ (15,065)	$ (6,935)

Property and Equipment - Proper

Property and Equipment - Property and Equipment, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Jun. 30, 2023
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 197,738	$ 186,997
Less: accumulated depreciation and impairment	(119,643)	(105,595)
Property and equipment, net	78,095	81,402
Equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	10,582	9,298
Computer hardware and software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	35,279	29,801
Furniture and fittings
Property, Plant and Equipment [Line Items]
Property and equipment, gross	25,660	24,773
Leasehold improvements and other
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 126,217	$ 123,125

Property and Equipment - Additi

Property and Equipment - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 7.2	$ 7.2	$ 14	$ 13.5

Business Combinations - Additio

Business Combinations - Additional Information (Details) - USD ($)	Nov. 30, 2023	Dec. 31, 2023
Class A Common Stock restricted stock units
Business Acquisition [Line Items]
Cost not yet recognized		$ 2,300,000,000
Loom, Inc
Business Acquisition [Line Items]
Percentage of voting interests acquired	100%
Consideration transferred	$ 885,600,000
Loom, Inc | Class A Common Stock restricted stock units
Business Acquisition [Line Items]
Consideration transferred, equity interests issued and issuable	30,200,000
Loom, Inc | Class A Common Stock restricted stock awards
Business Acquisition [Line Items]
Cost not yet recognized	$ 54,700,000
Series of Individually Immaterial Business Acquisitions
Business Acquisition [Line Items]
Percentage of voting interests acquired	100%

Business Combinations - Schedul

Business Combinations - Schedule of Assets and Liabilities Acquired (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Nov. 30, 2023	Jun. 30, 2023
Business Acquisition [Line Items]
Goodwill	$ 1,285,896		$ 727,211
Loom, Inc
Business Acquisition [Line Items]
Cash and cash equivalents		$ 59,265
Marketable securities		43,494
Intangible assets, net		272,300
Goodwill		544,828
Other assets		3,941
Deferred revenue		(16,145)
Deferred tax liabilities		(15,668)
Other liabilities		(6,391)
Net assets acquired		$ 885,624

Business Combinations - Sched_2

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

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Schedule of Goodwill (Details) $ in Thousands	6 Months Ended
	Dec. 31, 2023 USD ($)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 727,211
Additions	558,224
Effect of change in exchange rates	461
Goodwill, ending balance	$ 1,285,896

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Schedule of Finite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Jun. 30, 2023
Finite-Lived Intangible Assets [Line Items]
Cost	$ 676,742	$ 398,713
Less: accumulated amortization	(347,732)	(329,641)
Intangible assets, net	329,010	69,072
Acquired developed technology
Finite-Lived Intangible Assets [Line Items]
Cost	$ 470,662	235,818
Weighted-Average Remaining Useful Lives (Years)	7 years
Patents, trade names, and other rights
Finite-Lived Intangible Assets [Line Items]
Cost	$ 70,393	33,393
Weighted-Average Remaining Useful Lives (Years)	7 years
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Cost	$ 135,687	$ 129,502
Weighted-Average Remaining Useful Lives (Years)	4 years

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense for intangible assets	$ 9.9	$ 8.3	$ 18.1	$ 16.6

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets - Schedule of Finite-Lived Intangible Assets, Future Amortization Expense (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2024	$ 31,581
2025	54,903
2026	52,365
2027	47,534
2028	44,968
Thereafter	97,659
Total future amortization expense	$ 329,010

Accrued Expenses and Other Cu_3

Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Jun. 30, 2023
Other Liabilities Disclosure [Abstract]
Accrued expenses	$ 143,909	$ 107,479
Employee benefits	210,815	191,801
Tax liabilities	25,891	88,748
Customer deposits	15,494	11,784
Derivative liabilities	1,786	9,905
Other payables	12,482	13,414
Total accrued expenses and other current liabilities	$ 410,377	$ 423,131

Debt - Credit Facility (Details

Debt - Credit Facility (Details)	1 Months Ended	3 Months Ended	6 Months Ended
	Oct. 31, 2020 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2021 USD ($)
Line of Credit Facility [Line Items]
Repayments of debt			$ (12,500,000)
Line of Credit | The Credit Facility
Line of Credit Facility [Line Items]
Obligated repayment amount, as a percentage	1.25%
Consolidated leverage ratio		3.5	3.5
Consolidated leverage ration in event of a material acquisition		4.5	4.5
Line of Credit | The Credit Facility | Base Rate
Line of Credit Facility [Line Items]
Variable rate	0.50%
Line of Credit | The Credit Facility | Secured Overnight Financing Rate (SOFR)
Line of Credit Facility [Line Items]
Variable rate	0.10%
Line of Credit | The Credit Facility | Secured Overnight Financing Rate (SOFR) | Minimum
Line of Credit Facility [Line Items]
Variable rate	0.875%
Line of Credit | The Credit Facility | Secured Overnight Financing Rate (SOFR) | Maximum
Line of Credit Facility [Line Items]
Variable rate	1.50%
Line of Credit | The Credit Facility | Unsecured Debt
Line of Credit Facility [Line Items]
Borrowing capacity	$ 1,000,000,000
Proceeds from long-term lines of credit		$ 987,500,000		$ 1,000,000,000
Commitment fee, as a percentage			0.075%
Line of Credit | The Credit Facility | Revolving Credit Facility
Line of Credit Facility [Line Items]
Borrowing capacity	500,000,000
Amount of increase available	$ 250,000,000
Commitment fee, as a percentage			0.20%

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - claim	6 Months Ended
	Dec. 31, 2023	Aug. 31, 2023
Long-Term Purchase Commitment [Line Items]
Pending claims, number		3
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 -

Commitment and Contingencies - Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Operating lease costs, excluding short-term lease costs and variable lease costs	$ 10,289	$ 13,143	$ 20,606	$ 26,337
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 15,928	$ 0	$ 21,953	$ 1,279

Revenue - Remaining Performance

Revenue - Remaining Performance Obligations (Details) $ in Billions	Dec. 31, 2023 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 1.9
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percentage	80%
Revenue remaining performance obligation, expected timing of satisfaction period	12 months

Revenue - Disaggregation of Rev

Revenue - Disaggregation of Revenue by Geographic Region and Deployment Options (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Total revenues	$ 1,060,110	$ 872,704	$ 2,037,885	$ 1,680,096
Cloud
Disaggregation of Revenue [Line Items]
Total revenues	653,210	512,335	1,257,857	987,378
Data Center
Disaggregation of Revenue [Line Items]
Total revenues	274,758	194,264	517,701	365,492
Server
Disaggregation of Revenue [Line Items]
Total revenues	69,173	106,168	147,925	219,981
Marketplace and other
Disaggregation of Revenue [Line Items]
Total revenues	62,969	59,937	114,402	107,245
Total Americas
Disaggregation of Revenue [Line Items]
Total revenues	514,434	429,709	1,003,962	839,630
United States
Disaggregation of Revenue [Line Items]
Total revenues	445,622	373,976	871,813	731,724
Other Americas
Disaggregation of Revenue [Line Items]
Total revenues	68,812	55,733	132,149	107,906
EMEA
Disaggregation of Revenue [Line Items]
Total revenues	425,292	343,770	803,298	648,048
Asia Pacific
Disaggregation of Revenue [Line Items]
Total revenues	$ 120,384	$ 99,225	$ 230,625	$ 192,418

Revenue - Additional Informatio

Revenue - Additional Information (Details)	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Deferred revenue recognized, as a percentage	38%	36%	48%	46%

Revenue - Change in Contract Ba

Revenue - Change in Contract Balances (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Contract With Customer, Liability, Revenue Recognized, Change In Contract Balances [Roll Forward]
Balance, beginning of period	$ 1,501,081	$ 1,172,834	$ 1,545,479	$ 1,182,680
Additions	1,212,912	973,951	2,146,289	1,771,497
Revenue	(1,060,110)	(872,704)	(2,037,885)	(1,680,096)
Balance, end of period	$ 1,653,883	$ 1,274,081	$ 1,653,883	$ 1,274,081

Revenue - Changes in Balance of

Revenue - Changes in Balance of Deferred Commission (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Capitalized Contract Cost [Roll Forward]
Balance, beginning of period	$ 54,530	$ 29,729	$ 53,604	$ 27,141
Additions	20,365	11,286	26,479	16,415
Amortization expense	(5,792)	(3,027)	(10,980)	(5,568)
Balance, end of period	69,103	37,988	69,103	37,988
Deferred contract acquisition costs included in:
Prepaid expenses and other current assets	24,047	12,466	24,047	12,466
Other non-current assets	45,056	25,522	45,056	25,522
Capitalized Contract Cost, Net	$ 69,103	$ 37,988	$ 69,103	$ 37,988

Stockholder's Equity - Schedule

Stockholder's Equity - Schedule of RSU Activity (Details) - USD ($)	6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2023
Restricted Stock Units (RSUs)
Number of Shares
Beginning balance (in shares)	9,562,918
Granted (in shares)	7,772,723
Vested (in shares)	(2,419,302)
Forfeited or cancelled (in shares)	(890,628)
Ending balance (in shares)	14,025,711
Weighted Average Grant Date Fair Value
Beginning balance (in dollars per share)	$ 235.16
Granted, weighted average grant date fair value (in dollars per share)	201.65
Vested, weighted average grant date fair value (in dollars per share)	226.22
Forfeited or cancelled, weighted average grant date fair value (in dollars per share)	229.75
Ending balance (in dollars per share)	$ 218.47
Aggregate intrinsic value, outstanding	$ 3,336,156,000		$ 1,604,753,000
Aggregate intrinsic value, vested	448,159,000
Cost not yet recognized	$ 2,300,000,000
Cost not yet recognized, period for recognition	1 year 9 months 18 days
Class A Common Stock restricted stock awards
Number of Shares
Beginning balance (in shares)	6,131
Granted (in shares)	301,751	0
Ending balance (in shares)	302,281
Weighted Average Grant Date Fair Value
Aggregate intrinsic value, outstanding	$ 71,900,000		$ 1,000,000

Stockholder's Equity - Share Re

Stockholder's Equity - Share Repurchase Program (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended	6 Months Ended
	Dec. 31, 2023	Dec. 31, 2023	Jan. 31, 2023
Equity [Abstract]
Share repurchase program, authorized amount			$ 1,000
Shares repurchased (in shares)	500,000	900,000
Shares repurchased, price	$ 98.1	$ 163.5
Shares repurchased, average price per share (in usd per share)	$ 185.34	$ 186.03
Remaining authorized repurchase amount	$ 682.4	$ 682.4

Net Loss Per Share - Basic and

Net Loss Per Share - Basic and Diluted Net Loss (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Numerator:
Net loss	$ (84,469)	$ (205,031)	$ (116,352)	$ (218,772)
Denominator:
Weighted-average shares used in computing net income per share, basic (in shares)	258,601,000	255,874,000	258,254,000	255,520,000
Weighted-average shares used in computing net income per share, diluted (in shares)	258,601,000	255,874,000	258,254,000	255,520,000
Net loss per share, basic (in USD per share)	$ (0.33)	$ (0.80)	$ (0.45)	$ (0.86)
Net loss per share, diluted (in USD per share)	$ (0.33)	$ (0.80)	$ (0.45)	$ (0.86)
Class A
Numerator:
Net loss	$ (50,806)	$ (119,094)	$ (69,685)	$ (126,357)
Denominator:
Weighted-average shares used in computing net income per share, basic (in shares)	155,543,000	148,627,000	154,672,000	147,582,000
Weighted-average shares used in computing net income per share, diluted (in shares)	155,543,000	148,627,000	154,672,000	147,582,000
Net loss per share, basic (in USD per share)	$ (0.33)	$ (0.80)	$ (0.45)	$ (0.86)
Net loss per share, diluted (in USD per share)	$ (0.33)	$ (0.80)	$ (0.45)	$ (0.86)
Class B
Numerator:
Net loss	$ (33,663)	$ (85,937)	$ (46,667)	$ (92,415)
Denominator:
Weighted-average shares used in computing net income per share, basic (in shares)	103,058,000	107,247,000	103,582,000	107,938,000
Weighted-average shares used in computing net income per share, diluted (in shares)	103,058,000	107,247,000	103,582,000	107,938,000
Net loss per share, basic (in USD per share)	$ (0.33)	$ (0.80)	$ (0.45)	$ (0.86)
Net loss per share, diluted (in USD per share)	$ (0.33)	$ (0.80)	$ (0.45)	$ (0.86)

Net Loss Per Share - Antidiluti

Net Loss Per Share - Antidilutive Securities (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (in shares)	9,811	9,184	8,322	7,001
Class A Common Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (in shares)	0	0	0	1
Class A Common Stock restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (in shares)	9,806	9,167	8,317	6,976
Class A Common Stock restricted stock awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (in shares)	5	17	5	24

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 44,360	$ 100,498	$ 65,289	$ 108,523
Loss before income taxes	(40,109)	$ (104,533)	$ (51,063)	$ (110,249)
Unrecognized tax benefits, decrease resulting from settlements with taxing authorities	$ 60,500