Atlassian (TEAM) 10-Q 31 Jan 25 2025 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Dec. 31, 2024	Jan. 24, 2025
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 31, 2024
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	2025
Document Fiscal Period Focus	Q2
Amendment Flag	false
Class A
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		163,992,257
Class B
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		98,008,049

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2024	Jun. 30, 2024
Current assets:
Cash and cash equivalents	$ 2,217,604	$ 2,176,930
Marketable securities	251,629	161,973
Accounts receivable, net	695,661	628,049
Prepaid expenses and other current assets	156,806	109,312
Total current assets	3,321,700	3,076,264
Non-current assets:
Property and equipment, net	85,443	86,315
Operating lease right-of-use assets	172,905	172,468
Strategic investments	222,299	223,221
Intangible assets, net	272,578	299,057
Goodwill	1,292,187	1,288,756
Deferred tax assets	6,881	3,934
Other non-current assets	72,312	62,118
Total assets	5,446,305	5,212,133
Current liabilities:
Accounts payable	190,550	177,545
Accrued expenses and other current liabilities	531,283	577,359
Deferred revenue, current portion	1,914,090	1,806,269
Operating lease liabilities, current portion	48,644	48,953
Total current liabilities	2,684,567	2,610,126
Non-current liabilities:
Deferred revenue, net of current portion	282,155	308,467
Operating lease liabilities, net of current portion	209,097	214,474
Long-term debt	986,785	985,911
Deferred tax liabilities	20,054	20,387
Other non-current liabilities	44,092	39,917
Total liabilities	4,226,750	4,179,282
Commitments and contingencies (Note 11)
Stockholders’ equity
Additional paid-in capital	4,876,944	4,212,064
Accumulated other comprehensive income (loss)	(38,617)	25,300
Accumulated deficit	(3,618,775)	(3,204,516)
Total stockholders’ equity	1,219,555	1,032,851
Total liabilities and stockholders’ equity	5,446,305	5,212,133
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, 2024	Jun. 30, 2024
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)	163,081,602	159,544,123
Shares outstanding (in shares)	163,081,602	159,544,123
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)	98,977,705	101,012,393
Shares outstanding (in shares)	98,977,705	101,012,393

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Revenues:
Total revenues		$ 1,286,463	$ 1,060,110	$ 2,474,244	$ 2,037,885
Cost of revenues	[1],[2]	223,127	194,536	440,751	372,565
Gross profit		1,063,336	865,574	2,033,493	1,665,320
Operating expenses:
Research and development	[1],[2]	680,213	536,779	1,283,314	1,018,517
Marketing and sales	[1],[2]	271,894	220,513	524,287	414,080
General and administrative	[2]	168,708	157,344	315,349	300,654
Total operating expenses		1,120,815	914,636	2,122,950	1,733,251
Operating loss		(57,479)	(49,062)	(89,457)	(67,931)
Other expense, net		(7,999)	(4,639)	(27,431)	(12,974)
Interest income		25,586	22,593	54,150	47,819
Interest expense		(7,291)	(9,001)	(14,609)	(17,977)
Loss before income taxes		(47,183)	(40,109)	(77,347)	(51,063)
Provision for (benefit from) income taxes		(8,975)	44,360	84,630	65,289
Net loss		$ (38,208)	$ (84,469)	$ (161,977)	$ (116,352)
Net loss per share attributable to Class A and Class B common stockholders:
Basic (in dollars per share)		$ (0.15)	$ (0.33)	$ (0.62)	$ (0.45)
Diluted (in dollars per share)		$ (0.15)	$ (0.33)	$ (0.62)	$ (0.45)
Weighted-average shares used in computing net loss per share attributable to Class A and Class B common stockholders:
Basic (in shares)		261,147,000	258,601,000	260,812,000	258,254,000
Diluted (in shares)		261,147,000	258,601,000	260,812,000	258,254,000
Subscription
Revenues:
Total revenues		$ 1,213,248	$ 932,181	$ 2,345,196	$ 1,784,163
Other
Revenues:
Total revenues		$ 73,215	$ 127,929	$ 129,048	$ 253,722
[1] (2) Amounts include amortization of acquired intangible assets, as follows: Cost of revenues $ 10,130 $ 7,056 $ 20,246 $ 12,828 Research and development 93 93 187 187 Marketing and sales 3,673 2,712 7,345 5,077 (1) Amounts include stock-based compensation, as follows: Cost of revenues $ 23,031 $ 19,213 $ 41,245 $ 36,034 Research and development 260,278 187,819 453,723 338,265 Marketing and sales 43,260 38,168 79,252 70,449 General and administrative 52,161 44,645 90,656 80,678

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Amortization expense for intangible assets	$ 13,900	$ 9,900	$ 27,800	$ 18,100
Cost of revenues
Stock based compensation expense	23,031	19,213	41,245	36,034
Amortization expense for intangible assets	10,130	7,056	20,246	12,828
Research and development
Stock based compensation expense	260,278	187,819	453,723	338,265
Amortization expense for intangible assets	93	93	187	187
Marketing and sales
Stock based compensation expense	43,260	38,168	79,252	70,449
Amortization expense for intangible assets	3,673	2,712	7,345	5,077
General and administrative
Stock based compensation expense	$ 52,161	$ 44,645	$ 90,656	$ 80,678

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Statement of Comprehensive Income [Abstract]
Net loss	$ (38,208)	$ (84,469)	$ (161,977)	$ (116,352)
Other comprehensive income (loss), net of reclassification adjustments:
Foreign currency translation adjustment	(13,499)	7,256	(7,839)	1,495
Net change in unrealized gain (loss) on marketable and privately held debt securities	(741)	87	613	31
Net gain (loss) on cash flow hedging derivative instruments	(67,197)	15,723	(56,691)	3,136
Other comprehensive income (loss), before tax	(81,437)	23,066	(63,917)	4,662
Income tax effect	0	0	0	0
Other comprehensive income (loss), net of tax	(81,437)	23,066	(63,917)	4,662
Total comprehensive income (loss), net of tax	$ (119,645)	$ (61,403)	$ (225,894)	$ (111,690)

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 (loss)	Accumulated deficit
Beginning balance (in shares) at Jun. 30, 2023				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
Common stock issued	0					0
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 (loss), 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				156,057,000	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
Common stock issued	0					0
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 (loss), 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				156,057,000	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 Jun. 30, 2024		159,544,123	101,012,393	159,388,000	101,012,000
Beginning balance at Jun. 30, 2024	1,032,851			$ 2	$ 1	4,212,064	25,300	(3,204,516)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued (in shares)				3,054,000
Common stock issued	4					4
Conversion from Class B Common Stock to Class A Common Stock (in shares)				2,035,000	(2,035,000)
Stock-based compensation	$ 664,876					664,876
Repurchases of Class A Common Stock (in shares)	(1,500,000)			(1,499,000)
Repurchases of Class A Common Stock	$ (252,282)							(252,282)
Other comprehensive income (loss), net of tax	(63,917)						(63,917)
Net loss	(161,977)	$ (100,188)	$ (61,789)					(161,977)
Ending balance (in shares) at Dec. 31, 2024		163,081,602	98,977,705	162,978,000	98,977,000
Ending balance at Dec. 31, 2024	1,219,555			$ 2	$ 1	4,876,944	(38,617)	(3,618,775)
Beginning balance (in shares) at Sep. 30, 2024				160,558,000	99,995,000
Beginning balance at Sep. 30, 2024	1,028,834			$ 2	$ 1	4,498,214	42,820	(3,512,203)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued (in shares)				1,770,000
Common stock issued	0					0
Conversion from Class B Common Stock to Class A Common Stock (in shares)				1,018,000	(1,018,000)
Stock-based compensation	$ 378,730					378,730
Repurchases of Class A Common Stock (in shares)	(400,000)			(368,000)
Repurchases of Class A Common Stock	$ (68,364)							(68,364)
Other comprehensive income (loss), net of tax	(81,437)						(81,437)
Net loss	(38,208)	$ (23,725)	$ (14,483)					(38,208)
Ending balance (in shares) at Dec. 31, 2024		163,081,602	98,977,705	162,978,000	98,977,000
Ending balance at Dec. 31, 2024	$ 1,219,555			$ 2	$ 1	$ 4,876,944	$ (38,617)	$ (3,618,775)

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Cash flows from operating activities:
Net loss	$ (38,208)	$ (84,469)	$ (161,977)	$ (116,352)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	23,149	17,012	45,976	32,096
Stock-based compensation	378,730	289,845	664,876	525,426
Deferred income taxes	(2,161)	(8,618)	(2,929)	(3,305)
Amortization of interest rate swap contracts	(6,865)	0	(14,020)	0
Net loss on strategic investments	2,611	1,442	17,903	7,690
Net foreign currency loss (gain)	(5,621)	2,237	(2,581)	2,418
Other	(968)	154	23	(1,092)
Changes in operating assets and liabilities, net of business combinations:
Accounts receivable, net	(211,755)	(156,163)	(67,725)	(46,675)
Prepaid expenses and other assets	(25,759)	(486)	(65,673)	(23,542)
Accounts payable	24,863	33,648	14,719	623
Accrued expenses and other liabilities	30,464	59,140	(77,704)	(12,191)
Deferred revenue	183,425	135,852	81,509	91,454
Net cash provided by operating activities	351,905	289,594	432,397	456,550
Cash flows from investing activities:
Business combinations, net of cash acquired	0	(844,727)	(4,975)	(844,727)
Purchases of property and equipment	(9,336)	(5,333)	(15,487)	(9,002)
Purchases of strategic investments	(11,500)	(250)	(25,550)	(4,000)
Purchases of marketable securities and other investments	(116,619)	(69,783)	(160,323)	(139,146)
Proceeds from maturities of marketable securities	25,480	16,150	71,628	16,150
Proceeds from sales of marketable securities and strategic investments	271	41,513	4,313	61,392
Net cash used in investing activities	(111,704)	(862,430)	(130,394)	(919,333)
Cash flows from financing activities:
Principal payments of term loan facility	0	(12,500)	0	(12,500)
Repurchases of Class A Common Stock	(69,241)	(101,773)	(252,851)	(167,652)
Other	0	0	(3,143)	0
Net cash used in financing activities	(69,241)	(114,273)	(255,994)	(180,152)
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash	(9,056)	4,063	(5,492)	783
Net increase (decrease) in cash, cash equivalents, and restricted cash	161,904	(683,046)	40,517	(642,152)
Cash, cash equivalents, and restricted cash at beginning of period	2,056,735	2,144,809	2,178,122	2,103,915
Cash, cash equivalents, and restricted cash at end of period	2,218,639	1,461,763	2,218,639	1,461,763
Reconciliation of cash, cash equivalents, and restricted cash within the condensed consolidated balance sheets to the amounts shown in the condensed consolidated statements of cash flows above:
Cash and cash equivalents	2,217,604	1,460,497	2,217,604	1,460,497
Restricted cash included in other non-current assets	1,035	1,266	1,035	1,266
Total cash, cash equivalents, and restricted cash	2,218,639	1,461,763	2,218,639	1,461,763
Non-cash investing and financing activities:
Purchase of property and equipment included in accrued expenses and other current liabilities	3,849	2,597	3,849	2,597
Repurchases of Class A Common Stock included in accrued expenses and other current liabilities	$ 2,375	$ 0	$ 2,375	$ 0

Description of Business

Description of Business	6 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	1. Description of Business Atlassian Corporation (the “Company”) is a global technology company with a mission to unleash the potential of every team. Through a connected portfolio of products with discrete value propositions and built on the Atlassian platform and data model, Atlassian gives all teams the right teamwork foundations so they can plan and track work, align on goals, and unleash knowledge across the organization. The Company’s primary products include Jira for planning and project management, Confluence for content creation and sharing, Jira Service Management for team service, management and support applications. The Company’s fiscal year ends on June 30 of each year. References to fiscal year 2025, for example, refer to the fiscal year ending June 30, 2025.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Dec. 31, 2024
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, 2024 and June 30, 2024, the statements of operations, comprehensive income (loss), stockholders’ equity, and cash flows for the three and six months ended December 31, 2024 and 2023. Certain reclassifications have been made to prior period balances to conform to the current period presentation. “Maintenance” revenues have been reclassified to “Other” revenues on the Company’s condensed consolidated statements of operations. This reclassification had no impact on previously reported total revenues. These condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the disclosures made are sufficient to make the information not misleading . Results of operations for interim periods are not necessarily indicative of results for the entire year or of the results to be expected in future periods. Principles of Consolidation The accompanying condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. Use of Estimates The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make certain estimates and assumptions in the Company’s condensed consolidated financial statements. These estimates are based on information available as of the date of the condensed consolidated financial statements. Such management estimates and assumptions include, but are not limited to the determination of: • the standalone selling price of performance obligations for revenue contracts with multiple performance obligations; • the recognition, measurement and valuation of current and deferred income taxes and uncertain tax positions. 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 2024, which was filed with the SEC on August 16, 2024. 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, 2024, one customer, a solution partner, represented more than 10% of the total accounts receivable balance. As of June 30, 2024, no customer represented more than 10% of the total accounts receivable balance. For the three and six months ended December 31, 2024 and 2023, no customer represented more than 10% of total revenues. New Accounting Standards Not Yet Adopted in Fiscal Year 2025 In November 2023, the FASB issued Accounting Standards Update (“ASU”) No. 2023-07 “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.” This ASU expands public entities’ segment disclosures by requiring disclosure of significant segment expenses that are regularly provided to the chief operating decision maker and included within each reported measure of segment profit or loss, an amount and description of its composition for other segment items, and interim disclosures of a reportable segment’s profit or loss and assets. All disclosure requirements under ASU 2023-07 are also required for public entities with a single reportable segment. This ASU is effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024 with early adoption permitted and requires retrospective application to all prior periods. The Company is currently evaluating the impact of the new guidance and does not expect it to have a material impact on its consolidated financial statements. In December 2023, the FASB issued ASU No. 2023-09 “Income Taxes (Topic 740): Improvements to Income Tax Disclosures.” This ASU requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid. This ASU is effective for fiscal years beginning after December 15, 2024. The Company is currently evaluating the impact of the new guidance and does not expect it to have a material impact on its consolidated financial statements. In November 2024, the FASB issued ASU No. 2024-03 “Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures.” This ASU requires disaggregated disclosure of income statement expenses for public entities. The ASU does not change the expense captions an entity presents on the face of the income statement; rather, it requires disaggregation of certain expense captions into specified categories in disclosures within the footnotes to the financial statements. This ASU is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. The Company is currently evaluating the impact of the new guidance on its consolidated financial statements. Recently Adopted Accounting Pronouncements In June 2022, the FASB issued 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. The Company prospectively adopted this standard effective July 1, 2024. The adoption did not have a material impact on the Company’s condensed consolidated financial statements and disclosures.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Dec. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	3. Fair Value Measurements The following table presents the Company’s financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2024, by level within the fair value hierarchy (in thousands): Level 1 Level 2 Total Assets measured at fair value Cash and cash equivalents: Money market funds $ 1,545,191 $ — $ 1,545,191 Commercial paper — 992 992 Corporate debt securities — 2,483 2,483 Marketable securities: U.S. treasury securities — 92,875 92,875 Agency securities — 3,226 3,226 Certificates of deposit and time deposits — 10,000 10,000 Commercial paper — 15,248 15,248 Corporate debt securities — 130,280 130,280 Derivative financial instruments — 457 457 Total assets measured at fair value $ 1,545,191 $ 255,561 $ 1,800,752 Liabilities measured at fair value Derivative financial instruments $ — $ 40,910 $ 40,910 Total liabilities measured at fair value $ — $ 40,910 $ 40,910 The following table presents the Company’s financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2024, by level within the fair value hierarchy (in thousands): Level 1 Level 2 Total Assets measured at fair value Cash and cash equivalents: Money market funds $ 1,563,234 $ — $ 1,563,234 Marketable securities: U.S. treasury securities — 52,517 52,517 Agency securities — 3,199 3,199 Certificates of deposit and time deposits — 10,000 10,000 Commercial paper — 20,010 20,010 Corporate debt securities — 76,247 76,247 Derivative financial instruments — 9,292 9,292 Total assets measured at fair value $ 1,563,234 $ 171,265 $ 1,734,499 Liabilities measured at fair value Derivative financial instruments $ — $ 1,701 $ 1,701 Total liabilities measured at fair value $ — $ 1,701 $ 1,701 Due to the short-term nature of accounts receivables, net, contract assets, accounts payable, accrued expenses, and other current liabilities, their carrying amount is assumed to approximate their fair value. Determination of Fair Value The Company uses quoted prices in active markets for identical assets to determine the fair value of the Company’s Level 1 investments. The fair value of the Company’s Level 2 investments is determined based on quoted market prices or alternative market observable inputs. Strategic Investments Measured and Recorded at Fair Value on a Non-Recurring Basis The Company’s investments in privately held companies are not included in the tables above and are discussed in Note 4, “Investments.” The carrying value of the Company’s privately held equity securities are adjusted on a non-recurring basis upon observable price changes in orderly transactions for identical or similar investments of the same issuer, or impairment (referred to as the measurement alternative). Privately held equity securities that have been remeasured during the period based on observable price changes in orderly transactions are classified within Level 2 or Level 3 in the fair value hierarchy because the Company estimates the value based on valuation methods which may include a combination of the observable transaction price at the transaction date and other unobservable inputs including volatility, rights and preferences of the investments, and obligations of the securities the Company holds. The fair value of privately held equity securities that have been remeasured due to impairment are classified within Level 3. The Company’s privately held debt and equity securities amounted to $166.9 million and $148.7 million as of December 31, 2024 and June 30, 2024, respectively.

Investments

Investments	6 Months Ended
	Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract]
Investments	4. Investments Marketable Securities The Company’s investments of marketable securities as of December 31, 2024, consisted of the following (in thousands): Amortized Cost Unrealized Gains Unrealized Losses Fair Value U.S. treasury securities $ 92,684 $ 246 $ (55) $ 92,875 Agency securities 3,195 31 — 3,226 Certificates of deposit and time deposits 10,000 — — 10,000 Commercial paper 15,248 — — 15,248 Corporate debt securities 130,075 257 (52) 130,280 Total marketable securities $ 251,202 $ 534 $ (107) $ 251,629 The Company’s investments of marketable securities as of June 30, 2024, consisted of the following (in thousands): Amortized Cost Unrealized Gains Unrealized Losses Fair Value U.S. treasury securities $ 52,570 $ 30 $ (83) $ 52,517 Agency securities 3,194 5 — 3,199 Certificates of deposit and time deposits 10,000 — — 10,000 Commercial paper 20,010 — — 20,010 Corporate debt securities 76,386 7 (146) 76,247 Total marketable securities $ 162,160 $ 42 $ (229) $ 161,973 The table below summarizes the Company’s marketable securities by remaining contractual maturity based on their effective maturity dates (in thousands): December 31, 2024 June 30, 2024 Due in one year or less $ 95,456 $ 101,543 Due in one year through five years 156,173 60,430 Total marketable securities $ 251,629 $ 161,973 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, 2024, and June 30, 2024, unrealized losses and the related risk of expected credit losses were not material. Strategic Investments Carrying value of privately held debt securities The Company’s investments of privately held debt securities as of December 31, 2024, consisted of the following (in thousands): Amortized Cost Unrealized Gains Unrealized Losses Fair Value Privately held debt securities $ 7,350 $ — $ (3,350) $ 4,000 The Company’s investments of privately held debt securities as of June 30, 2024, consisted of the following (in thousands): Amortized Cost Unrealized Gains Unrealized Losses Fair Value Privately held debt securities $ 6,800 $ — $ (3,350) $ 3,450 Carrying value of privately held equity securities Privately held equity securities are measured using the measurement alternative. The carrying value is measured as the total initial cost plus the cumulative net gain (loss). The carrying values for privately held equity securities as of December 31, 2024 are summarized below (in thousands): Privately held equity securities Initial total cost $ 165,352 Cumulative net losses (2,491) Carrying value $ 162,861 The carrying values for privately held equity securities as of June 30, 2024 are summarized below (in thousands): Privately held equity securities Initial total cost $ 147,752 Cumulative net losses (2,491) Carrying value $ 145,261 Privately held equity securities’ cumulative net losses are comprised of downward adjustments and impairment charges of $7.5 million and upward adjustments of $5.0 million as of December 31, 2024 and June 30, 2024. 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, 2024 2023 2024 2023 Unrealized losses recognized on privately held equity securities including impairment $ — $ (1,442) $ — $ (1,442) Unrealized losses, net $ — $ (1,442) $ — $ (1,442) Realized gains recognized on sales of publicly traded equity securities — — — 515 Realized losses recognized on privately held equity securities (2,611) — (2,645) — Losses on strategic investments, net $ (2,611) $ (1,442) $ (2,645) $ (927) Unrealized losses recognized during the reporting period on privately held equity securities still held at the reporting date $ — $ (1,442) $ — $ (1,442) Realized gains and losses recognized on sales of 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. 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. Equity Method Investment Vertical First Trust (“VFT”) was established for the construction project associated with the Company’s new global headquarters in Sydney, Australia (the “Australian HQ Property”). In fiscal year 2023, the Company completed a non-cash sale of the controlling interest of VFT to a third-party buyer as part of the contemplated transactions for the buyer to invest in and develop the Australian HQ Property. The Company retained a minority equity interest of 13% in the form of ordinary units in VFT and has significant influence in VFT. The Company’s interest in VFT is accounted for using the equity method in the condensed consolidated financial statements. Under the equity method, the Company records its proportionate share of VFT’s earnings or losses. The following table sets forth the carrying amounts of the equity method investment and the movements during fiscal year 2024 and the six months ended December 31, 2024 (in thousands): Equity Method Investment Balance as of June 30, 2023 $ 85,436 Share of losses (11,262) Effect of change in exchange rates 336 Balance as of June 30, 2024 74,510 Share of losses (15,258) Effect of change in exchange rates (3,814) Balance as of December 31, 2024 $ 55,438 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, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Contracts	5. Derivative Contracts The Company has derivative instruments that are used for hedging activities as discussed below. The following table sets forth the notional amounts of the Company’s hedging derivative instruments as of December 31, 2024 (in thousands): Notional Amounts of Derivative Instruments Notional Amount by Term to Maturity Classification by Notional Amount Under 12 months Over 12 months Total Cash Flow Hedge Non Hedge Total Forward contracts $ 910,517 $ 71,612 $ 982,129 $ 704,930 $ 277,199 $ 982,129 The following table sets forth the notional amounts of the Company’s hedging derivative instruments as of June 30, 2024 (in thousands): Notional Amounts of Derivative Instruments Notional Amount by Term to Maturity Classification by Notional Amount Under 12 months Over 12 months Total Cash Flow Hedge Non Hedge Total Forward contracts $ 837,182 $ 71,701 $ 908,883 $ 651,303 $ 257,580 $ 908,883 The fair value of the Company’s derivative instruments were as follows (in thousands): Balance Sheet Location December 31, 2024 June 30, 2024 Derivative assets Derivatives designated as hedging instruments: Foreign exchange forward contracts Prepaid expenses and other current assets $ — $ 8,255 Foreign exchange forward contracts Other non-current assets — 867 Derivatives not designated as hedging instruments: Foreign exchange forward contracts Prepaid expenses and other current assets 457 170 Total derivative assets $ 457 $ 9,292 Derivative liabilities Derivatives designated as hedging instruments: Foreign exchange forward contracts Accrued expenses and other current liabilities $ 31,153 $ 1,197 Foreign exchange forward contracts Other non-current liabilities 3,600 7 Derivatives not designated as hedging instruments: Foreign exchange forward contracts Accrued expenses and other current liabilities 6,157 497 Total derivative liabilities $ 40,910 $ 1,701 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, 2024 2023 2024 2023 Beginning balance of accumulated gains in accumulated other comprehensive income (loss) $ 51,930 $ 35,583 $ 41,424 $ 48,170 Gross unrealized gains (losses) recognized in other comprehensive income (loss) (57,867) 17,413 (39,852) 9,343 Net losses (gains) reclassified from cash flow hedge in accumulated other comprehensive income (loss) into profit or loss: Recognized in cost of revenues 32 533 (11) 976 Recognized in research and development (2,049) 3,738 (2,489) 5,202 Recognized in marketing and sales (48) 531 9 901 Recognized in general and administrative (400) 1,079 (328) 1,779 Recognized in interest expense (6,865) (7,571) (14,020) (15,065) Ending balance of accumulated gains (losses) in accumulated other comprehensive income (loss) $ (15,267) $ 51,306 $ (15,267) $ 51,306

Property and Equipment

Property and Equipment	6 Months Ended
	Dec. 31, 2024
Property, Plant and Equipment [Abstract]
Property and Equipment	6. Property and Equipment Property and equipment, net consisted of the following (in thousands): December 31, 2024 June 30, 2024 Equipment $ 13,010 $ 11,200 Computer hardware and software 48,449 40,824 Furniture and fittings 25,500 25,172 Leasehold improvements and other 144,271 137,944 Property and equipment, gross 231,230 215,140 Less: accumulated depreciation and impairment (145,787) (128,825) Property and equipment, net $ 85,443 $ 86,315 Depreciation expense was $9.3 million and $7.2 million for the three months ended December 31, 2024 and 2023, respectively and $18.2 million and $14.0 million

Goodwill and Intangible Assets

Goodwill and Intangible Assets	6 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	7. 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, 2024 $ 1,288,756 Additions 3,700 Effect of change in exchange rates (269) Balance as of December 31, 2024 $ 1,292,187 During the first quarter of fiscal year 2025 the Company completed an acquisition to expand the Company’s product and service offerings. The transaction was accounted for as a business combination and was not significant to the condensed consolidated financial statements. On November 30, 2023, the Company acquired Loom, Inc. The fair values assigned to assets acquired and liabilities assumed have been finalized and there were no measurement period adjustments recorded during the six months ended December 31, 2024. Intangible Assets Intangible assets consisted of the following (in thousands): December 31, 2024 June 30, 2024 Weighted-Average Remaining Useful Lives Acquired developed technology $ 466,932 $ 469,752 6 Patents, trade names, and other rights 70,928 70,928 7 Customer relationships 135,687 135,687 3 Intangible assets, gross 673,547 676,367 Less: accumulated amortization (400,969) (377,310) Intangible assets, net $ 272,578 $ 299,057 Amortization expense for intangible assets was approximately $13.9 million and $9.9 million for the three months ended December 31, 2024 and 2023, respectively and $27.8 million and $18.1 million for the six months ended December 31, 2024 and 2023, respectively. The following table presents the estimated future amortization expense related to intangible assets held as of December 31, 2024 (in thousands): Fiscal Years: Remainder of 2025 $ 27,738 2026 53,030 2027 47,861 2028 45,634 2029 40,128 Thereafter 58,187 Total future amortization expense $ 272,578

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	6 Months Ended
	Dec. 31, 2024
Other Liabilities Disclosure [Abstract]
Accrued Expenses and Other Current Liabilities	8. Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consist of the following (in thousands): December 31, 2024 June 30, 2024 Accrued expenses $ 164,390 $ 149,046 Employee benefits 248,985 332,518 Tax liabilities 46,294 55,203 Customer deposits 15,328 19,279 Derivative liabilities 37,310 1,694 Other payables 18,976 19,619 Total accrued expenses and other current liabilities $ 531,283 $ 577,359

Debt

Debt	6 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Debt	9. Debt Credit Facility In August 2024, the Company’s principal U.S. operating subsidiary, Atlassian US, Inc., entered into an amended and restated credit agreement (the "2024 Credit Agreement") which eliminated a term loan facility and provides for a $750 million senior unsecured revolving credit facility (the “2024 Credit Facility”). The 2024 Credit Agreement replaced the Company's prior credit agreement entered into in October 2020 (“2020 Credit Agreement”) which provided for a $1 billion senior unsecured delayed-draw term loan facility and a $500 million senior unsecured revolving credit facility. The 2024 Credit Facility bears interest, at the Company’s option, at a base rate or the Secured Overnight Financing Rate, plus, in each case, a spread of 0.875% to 1.50% per annum. In each case the applicable margin will be determined by the consolidated leverage ratio of the Company and its subsidiaries, or, following the Company’s one time option, the Company’s credit rating. The Company may repay outstanding loans under the 2024 Credit Facility at any time, without premium or penalty, and the Company has the option to request an increase of $250 million in certain circumstances. The 2024 Credit Facility matures in August 2029. The Company is also obligated to pay a commitment fee on the undrawn amounts of the 2024 Credit Facility at an annual rate ranging from 0.075% to 0.20%, determined by the Company’s consolidated leverage ratio, or, following the Company’s one time option, the Company’s credit rating. The 2024 Credit Facility requires compliance with various financial and non-financial covenants, including affirmative and negative covenants. The financial covenants include a maximum consolidated leverage ratio of 3.5x, which increases to 4.5x during the period of four fiscal quarters immediately following a material acquisition. As of December 31, 2024, the Company was in compliance with all covenants associated with the 2024 Credit Facility. Senior Notes On May 15, 2024, the Company issued $500.0 million aggregate principal amount of 5.250% senior notes due 2029 (the “2029 Notes”) and $500.0 million aggregate principal amount of 5.500% senior notes due 2034 (the “2034 Notes,” and together with the 2029 Notes, the “Notes”). The 2029 Notes and the 2034 Notes will mature on May 15, 2029 and May 15, 2034 respectively. Interest on the Notes is paid semi-annually in arrears on May 15 and November 15 of each year, beginning on November 15, 2024. The Notes are senior unsecured obligations of the Company. The Company may redeem either series of the Notes, in whole or in part, at any time or from time to time at the applicable redemption price. Upon the occurrence of a change of control event, the Company will be required to make an offer to repurchase all outstanding Notes from their holders at a price equal to 101% of their principal amount thereof, plus accrued and unpaid interest to, but not including, the date of repurchase. The indenture governing the Notes also includes covenants (including certain limited covenants restricting the Company’s ability to incur certain liens and enter into certain sale and leaseback transactions), events of default, and other customary provisions. As of December 31, 2024, the Company was in compliance with all covenants associated with the Notes. The Company incurred debt discount and issuance costs of approximately $14.3 million in connection with the Notes offering, which were allocated on a pro rata basis to the 2029 Notes and 2034 Notes. The debt discount and issuance costs are amortized on an effective interest rate method to interest expense over the contractual term of the Notes. The proceeds from this offering, net of debt discounts and issuance costs, was $985.7 million. The components of the Notes were as follows (in thousands, except percentage data): Instrument Expected Remaining Term (years) Contractual Interest Rate Effective Interest Rate December 31, 2024 June 30, 2024 2029 Notes 4.4 5.250 % 5.55 % $ 500,000 $ 500,000 2034 Notes 9.4 5.500 % 5.71 % 500,000 500,000 Unamortized debt discount and issuance costs (13,215) (14,089) Long-term debt $ 986,785 $ 985,911 The total estimated fair value of the Notes was approximately $1.0 billion as of December 31, 2024 and June 30, 2024. The estimated fair value of the Notes, which the Company deems Level 2 financial instruments, was determined based on quoted bid prices in an over-the-counter market on the last trading day of the reporting period.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	10. Commitments and Contingencies Noncancellable Purchase Obligations The Company has contractual commitments for services with third-parties related to its cloud services platform and other services. These commitments are non-cancellable and expire within one “Commitments and Contingencie s” of its Annual Report on Form 10-K for fiscal year 2024. During the three and six months ended December 31, 2024, the Company entered into additional non-cancelable purchase commitments of approximately $157.3 million which expire within two 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 10, “ Leases, ” of the Company’s Annual Report on Form 10-K for fiscal year 2024. Supplemental information related to operating leases were as follows (in thousands): Three Months Ended December 31, Six Months Ended December 31, 2024 2023 2024 2023 Operating lease costs $ 10,909 $ 10,289 $ 21,575 $ 20,606 Right-of-use assets obtained in exchange for new operating lease liabilities $ 13,363 $ 15,928 $ 20,789 $ 21,953 Legal Proceedings From time to time, the Company is party to litigation and other legal proceedings in the ordinary course of business. While the Company does not believe the ultimate resolutions of these pending legal matters are likely to have a material adverse effect on the Company’s financial position, the results of any litigation or other legal proceedings are uncertain and as such the resolution of such legal proceedings, either individually or in the aggregate, could have a material adverse effect on its business, results of operations, financial condition or cash flows. The Company accrues for loss contingencies when it is both probable that it will incur the loss and when it can reasonably estimate the amount of the loss or range of loss. For the periods presented, the Company has not recorded any liabilities as a result of the litigation or other legal proceedings in its condensed consolidated financial statements. Indemnification Provisions The Company’s agreements include provisions indemnifying customers against intellectual property and other third-party claims. In addition, the Company has entered into indemnification agreements with its directors, executive officers and certain other officers that will require the Company to, among other things, indemnify these individuals for certain liabilities that may arise as a result of their affiliation with the Company. For the periods presented, the Company has not incurred any costs as a result of such indemnification obligations and has not recorded any liabilities related to such obligations in the condensed consolidated financial statements.

Revenue

Revenue	6 Months Ended
	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
Revenue	11. 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, 2024, approximately $2.7 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 78% 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, 2024 2023 2024 2023 Americas United States $ 537,396 $ 445,622 $ 1,043,623 $ 871,813 Other Americas 81,769 68,812 160,041 132,149 Total Americas 619,165 514,434 1,203,664 1,003,962 Total EMEA Germany 131,991 104,596 249,793 195,722 Other EMEA 393,491 320,696 744,958 607,576 Total EMEA 525,482 425,292 994,751 803,298 Asia Pacific 141,816 120,384 275,829 230,625 Total revenues $ 1,286,463 $ 1,060,110 $ 2,474,244 $ 2,037,885 The Company’s revenues by deployment options are as follows (in thousands): Three Months Ended December 31, Six Months Ended December 31, 2024 2023 2024 2023 Cloud $ 846,962 $ 653,210 $ 1,639,268 $ 1,257,857 Data Center 362,281 274,758 697,875 517,701 Server — 69,173 — 147,925 Marketplace and other 77,220 62,969 137,101 114,402 Total revenues $ 1,286,463 $ 1,060,110 $ 2,474,244 $ 2,037,885 The Company provides different deployment options for its product offerings. Cloud offerings provide customers the right to use the Company’s software in a cloud-based infrastructure that the Company provides. Data Center offerings are on-premises term license agreements for the Company’s Data Center products, which are software licensed for a specified period, and include support and maintenance services that are bundled with the license for the term of the license period. Marketplace and other offerings mainly include fees received for sales of third-party apps in the Atlassian Marketplace and services like premier support, advisory services and training services. Premier support consists of subscription-based arrangements for a higher level of support across different deployment options, and revenues from this offering are included in Subscription revenues within the Company’s condensed consolidated statements of operations. The revenues from Server offerings for the three and six months ended December 31, 2023 consisted of only revenue from maintenance services for the Company’s Server offerings as the Company was no longer selling perpetual licenses for its Server offerings. The Company generally ended maintenance for Server offerings in February 2024. Revenue related to Server offerings is included in Other revenues within the Company’s condensed consolidated statements of operations. 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 deferred revenue are as follows (in thousands): Three Months Ended December 31, Six Months Ended December 31, 2024 2023 2024 2023 Balance, beginning of period $ 2,012,820 $ 1,501,081 $ 2,114,736 $ 1,545,479 Additions 1,469,888 1,212,912 2,555,753 2,146,289 Revenue (1,286,463) (1,060,110) (2,474,244) (2,037,885) Balance, end of period $ 2,196,245 $ 1,653,883 $ 2,196,245 $ 1,653,883 For the three months ended December 31, 2024 and 2023, approximately 41% and 38% of revenue recognized was from the deferred revenue balances at the beginning of each fiscal year, respectively. For the six months ended December 31, 2024 and 2023, approximately 51% and 48% 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, 2024 2023 2024 2023 Balance, beginning of period $ 83,444 $ 54,530 $ 79,711 $ 53,604 Additions 23,833 20,365 36,063 26,479 Amortization expense (10,026) (5,792) (18,523) (10,980) Balance, end of period $ 97,251 $ 69,103 $ 97,251 $ 69,103 Deferred contract acquisition costs included in: Prepaid expenses and other current assets $ 36,578 $ 24,047 Other non-current assets 60,673 45,056 Total $ 97,251 $ 69,103 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, 2024
Equity [Abstract]
Stockholders' Equity	12. Stockholders’ Equity Stock-based Compensation A summary of restricted stock unit (“RSU”) activity for the six months ended December 31, 2024 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, 2024 12,696,964 $ 213.13 $ 2,245,839 Granted 10,445,909 169.02 — Vested (2,995,765) 210.29 615,559 Forfeited or cancelled (1,150,693) 199.73 — Balance as of December 31, 2024 18,996,415 $ 189.33 $ 4,623,347 As of December 31, 2024, total compensation cost not yet recognized in the condensed consolidated financial statements related to employee and director RSU awards was $2.7 billion. During the six months ended December 31, 2024, the Company did not grant any shares of restricted stock awards (“RSA”). During the six months ended December 31, 2023, the Company granted 301,751 shares of RSA. As of December 31, 2024 and June 30, 2024, there were 104,202 and 156,856 shares of RSA outstanding, respectively. These outstanding shares of RSA are subject to forfeiture or repurchase at the original exercise price during the repurchase period following employee termination, as applicable. The total aggregate intrinsic value of outstanding shares of RSA were $25.4 million and $27.7 million as of December 31, 2024 and June 30, 2024, respectively. Share Repurchase Programs 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 “2023 Repurchase Program”). In September 2024, the Board of Directors authorized a new program under which the Company may repurchase up to an additional $1.5 billion of the Company’s outstanding Class A Common Stock (the “2024 Repurchase Program” and, together with the 2023 Repurchase Program, the “Repurchase Programs”). The 2024 Repurchase Program will commence following completion of the 2023 Repurchase Program. The Repurchase Programs do not have a fixed expiration date, may be suspended or discontinued at any time, and do not obligate the Company to repurchase any specific dollar amount or to acquire any specific number of shares. The Company may repurchase shares of Class A Common Stock from time to time through open market purchases, in privately negotiated transactions, or by other means, including through the use of trading plans intended to qualify under Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, in accordance with applicable securities laws and other restrictions. The timing, manner, price, and amount of any repurchases will be determined by the Company at its discretion and will depend on a variety of factors, including business, economic and market conditions, prevailing stock prices, corporate and regulatory requirements, and other considerations. During the three and six months ended December 31, 2024, the Company repurchased and subsequently retired approximately 0.4 million and 1.5 million shares of its Class A Common Stock for approximately $68.4 million and $252.3 million at an average price per share of $185.95 and $168.30, respectively. All repurchases were made in open market transactions. As of December 31, 2024, the Company was authorized to purchase a remaining $199.6 million and $1.5 billion of its Class A Common Stock under the 2023 Share Repurchase Program and 2024 Share Repurchase Program, respectively.

Net Loss Per Share

Net Loss Per Share	6 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Net Loss Per Share	13. 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, 2024 2023 2024 2023 Class A Class B Class A Class B Class A Class B Class A Class B Numerator: Net loss $ (23,725) $ (14,483) $ (50,806) $ (33,663) $ (100,188) $ (61,789) $ (69,685) $ (46,667) Denominator: Weighted-average shares outstanding, basic and diluted 162,158 98,989 155,543 103,058 161,321 99,491 154,672 103,582 Net loss per share, basic and diluted $ (0.15) $ (0.15) $ (0.33) $ (0.33) $ (0.62) $ (0.62) $ (0.45) $ (0.45) 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, 2024 2023 2024 2023 Class A Common Stock restricted stock units 6,805 9,806 8,598 8,317 Class A Common Stock restricted stock awards 48 5 33 5 Total 6,853 9,811 8,631 8,322

Income Taxes

Income Taxes	6 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	14. Income Taxes The Company computes its provision for (benefit from) income taxes by applying the estimated annual effective tax rate to year-to-date ordinary income and adjusts the provision for (benefit from) income taxes for discrete tax items recorded in the period. In each quarter, the Company updates the estimated annual effective tax rate and makes a year-to-date adjustment to the provision. The estimated annual effective tax rate is subject to volatility due to several factors, including changes in the Company’s relative proportion of domestic and foreign earnings, current cash taxes in jurisdictions with valuation allowances, material discrete tax items, or a combination of these factors as a result of certain transactions or events. The Company reported an income tax benefit of $9.0 million and an income tax provision of $84.6 million for the three and six months ended December 31, 2024, respectively, as compared to an income tax provision of $44.4 million and $65.3 million for the three and six months ended December 31, 2023, respectively. The income tax benefit for the three months ended December 31, 2024 was primarily attributable to the mix of earning and losses at various jurisdictions. The income tax provision for the six months ended December 31, 2024 was primarily attributable to the mix of earning and losses at various jurisdictions, non-deductible stock-based compensation in certain foreign jurisdictions, and valuation allowances in the U.S. and Australia, offset by research and development tax credits and incentives. The income tax provision for the three and six months ended December 31, 2023 was primarily attributable to the mix of earnings and losses at various jurisdictions, non-deductible stock-based compensation in certain foreign jurisdictions, the recognition of reserves for uncertain tax positions, and valuation allowances in the U.S. and Australia, offset by research and development tax credits and incentives. The Company regularly assesses the need for a valuation allowance against its deferred tax assets. In making that assessment, the Company considers both positive and negative evidence related to the likelihood of realization of the deferred tax assets to determine, based on the weight of available evidence, whether it is more likely than not that some or all of the deferred tax assets will not be realized. Based on available evidence as of December 31, 2024, the Company will continue to maintain a valuation allowance against U.S. federal, U.S. state, and Australian deferred tax assets. The Company intends to maintain the valuation allowance until sufficient positive evidence exists to support the reversal of, or a decrease in, the valuation allowance.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Pay vs Performance Disclosure
Net loss	$ (38,208)	$ (84,469)	$ (161,977)	$ (116,352)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	6 Months Ended
	Dec. 31, 2024 shares	Dec. 31, 2024 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Rajeev Rajan [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On November 27, 2024, 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 26,328 shares of the Company’s Class A Common Stock, (ii) up to 55% shares of the Company’s Class A Common Stock issued upon the settlement of 16,142 outstanding RSUs, net of shares sold to cover tax withholding obligations in connection with the vesting and settlement of such RSUs, (iii) up to 65% of the shares of the Company’s Class A Common Stock issued upon the settlement of 64,564 outstanding RSUs, net of shares sold to cover tax withholding obligations in connection with the vesting and settlement of such RSUs, and (iv) up to 65% of the shares of the Company’s Class A Common Stock issued upon the settlement of any future RSUs awarded during the plan period, net of shares sold to cover tax withholding obligations in connection with the vesting and settlement of such RSUs, in each case pursuant to the terms of the plan and until March 2, 2026.
Name		Rajeev Rajan
Title		Chief Technology Officer
Rule 10b5-1 Arrangement Adopted		true
Adoption Date		November 27, 2024
Expiration Date		March 2, 2026
Arrangement Duration	460 days
Anu Bharadwaj [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On December 4, 2024, 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 (i) the sale of up to 19,005 shares of the Company’s Class A Common Stock and (ii) gift transfers of up to 2,715 shares of the Company’s Class A Common Stock, in each case pursuant to the terms of the plan and until March 20, 2026.
Name		Anu Bharadwaj
Title		President
Rule 10b5-1 Arrangement Adopted		true
Adoption Date		December 4, 2024
Expiration Date		March 20, 2026
Arrangement Duration	471 days
Gene Liu [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On December 5, 2024, 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 4,342 shares of the Company’s Class A Common Stock pursuant to the terms of the plan, until March 5, 2026.
Name		Gene Liu
Title		Chief Accounting Officer
Rule 10b5-1 Arrangement Adopted		true
Adoption Date		December 5, 2024
Expiration Date		March 5, 2026
Arrangement Duration	455 days
Aggregate Available	4,342	4,342
Heather Fernandez [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On December 6, 2024, Heather Fernandez, a member of the Company’s Board of Directors, adopted a Rule 10b5-1 trading arrangement that is intended to satisfy the affirmative defense of Rule 10b5-1(c) for the sale of up to 2,200 shares of the Company’s Class A Common Stock, pursuant to the terms of the plan, until March 31, 2026.
Name		Heather Fernandez
Title		member of the Company’s Board of Directors
Rule 10b5-1 Arrangement Adopted		true
Adoption Date		December 6, 2024
Expiration Date		March 31, 2026
Arrangement Duration	480 days
Aggregate Available	2,200	2,200
Rajeev Rajan, Rule Trading Arrangement, Common Stock [Member] | Rajeev Rajan [Member]
Trading Arrangements, by Individual
Aggregate Available	26,328	26,328
Rajeev Rajan, Rule Trading Arrangement, Restricted Stock Units, 55 Percent [Member] | Rajeev Rajan [Member]
Trading Arrangements, by Individual
Aggregate Available	16,142	16,142
Rajeev Rajan, Rule Trading Arrangement, Restricted Stock Units, 65 Percent [Member] | Rajeev Rajan [Member]
Trading Arrangements, by Individual
Aggregate Available	64,564	64,564
Anu Bharadwaj Trading Arrangement, Common Stock [Member] | Anu Bharadwaj [Member]
Trading Arrangements, by Individual
Aggregate Available	19,005	19,005
Anu Bharadwaj Trading Arrangement, Common Stock Gift Transfers [Member] | Anu Bharadwaj [Member]
Trading Arrangements, by Individual
Aggregate Available	2,715	2,715

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Dec. 31, 2024
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”). 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, 2024 and June 30, 2024, the statements of operations, comprehensive income (loss), stockholders’ equity, and cash flows for the three and six months ended December 31, 2024 and 2023. Certain reclassifications have been made to prior period balances to conform to the current period presentation. “Maintenance” revenues have been reclassified to “Other” revenues on the Company’s condensed consolidated statements of operations. This reclassification had no impact on previously reported total revenues. These condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the disclosures made are sufficient to make the information not misleading . Results of operations for interim periods are not necessarily indicative of results for the entire year or of the results to be expected in future periods.
Principles of Consolidation	The accompanying condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation.
Use of Estimates	The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make certain estimates and assumptions in the Company’s condensed consolidated financial statements. These estimates are based on information available as of the date of the condensed consolidated financial statements. Such management estimates and assumptions include, but are not limited to the determination of: • the standalone selling price of performance obligations for revenue contracts with multiple performance obligations; • the recognition, measurement and valuation of current and deferred income taxes and uncertain tax positions. 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 And Recently Adopted Accounting Pronouncements	In November 2023, the FASB issued Accounting Standards Update (“ASU”) No. 2023-07 “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.” This ASU expands public entities’ segment disclosures by requiring disclosure of significant segment expenses that are regularly provided to the chief operating decision maker and included within each reported measure of segment profit or loss, an amount and description of its composition for other segment items, and interim disclosures of a reportable segment’s profit or loss and assets. All disclosure requirements under ASU 2023-07 are also required for public entities with a single reportable segment. This ASU is effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024 with early adoption permitted and requires retrospective application to all prior periods. The Company is currently evaluating the impact of the new guidance and does not expect it to have a material impact on its consolidated financial statements. In December 2023, the FASB issued ASU No. 2023-09 “Income Taxes (Topic 740): Improvements to Income Tax Disclosures.” This ASU requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid. This ASU is effective for fiscal years beginning after December 15, 2024. The Company is currently evaluating the impact of the new guidance and does not expect it to have a material impact on its consolidated financial statements. In November 2024, the FASB issued ASU No. 2024-03 “Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures.” This ASU requires disaggregated disclosure of income statement expenses for public entities. The ASU does not change the expense captions an entity presents on the face of the income statement; rather, it requires disaggregation of certain expense captions into specified categories in disclosures within the footnotes to the financial statements. This ASU is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. The Company is currently evaluating the impact of the new guidance on its consolidated financial statements. Recently Adopted Accounting Pronouncements In June 2022, the FASB issued 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. The Company prospectively adopted this standard effective July 1, 2024. The adoption did not have a material impact on the Company’s condensed consolidated financial statements and disclosures.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Dec. 31, 2024
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis	The following table presents the Company’s financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2024, by level within the fair value hierarchy (in thousands): Level 1 Level 2 Total Assets measured at fair value Cash and cash equivalents: Money market funds $ 1,545,191 $ — $ 1,545,191 Commercial paper — 992 992 Corporate debt securities — 2,483 2,483 Marketable securities: U.S. treasury securities — 92,875 92,875 Agency securities — 3,226 3,226 Certificates of deposit and time deposits — 10,000 10,000 Commercial paper — 15,248 15,248 Corporate debt securities — 130,280 130,280 Derivative financial instruments — 457 457 Total assets measured at fair value $ 1,545,191 $ 255,561 $ 1,800,752 Liabilities measured at fair value Derivative financial instruments $ — $ 40,910 $ 40,910 Total liabilities measured at fair value $ — $ 40,910 $ 40,910 The following table presents the Company’s financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2024, by level within the fair value hierarchy (in thousands): Level 1 Level 2 Total Assets measured at fair value Cash and cash equivalents: Money market funds $ 1,563,234 $ — $ 1,563,234 Marketable securities: U.S. treasury securities — 52,517 52,517 Agency securities — 3,199 3,199 Certificates of deposit and time deposits — 10,000 10,000 Commercial paper — 20,010 20,010 Corporate debt securities — 76,247 76,247 Derivative financial instruments — 9,292 9,292 Total assets measured at fair value $ 1,563,234 $ 171,265 $ 1,734,499 Liabilities measured at fair value Derivative financial instruments $ — $ 1,701 $ 1,701 Total liabilities measured at fair value $ — $ 1,701 $ 1,701

Investments (Tables)

Investments (Tables)	6 Months Ended
	Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract]
Schedule of Available-for-Sale Securities Reconciliation	The Company’s investments of marketable securities as of December 31, 2024, consisted of the following (in thousands): Amortized Cost Unrealized Gains Unrealized Losses Fair Value U.S. treasury securities $ 92,684 $ 246 $ (55) $ 92,875 Agency securities 3,195 31 — 3,226 Certificates of deposit and time deposits 10,000 — — 10,000 Commercial paper 15,248 — — 15,248 Corporate debt securities 130,075 257 (52) 130,280 Total marketable securities $ 251,202 $ 534 $ (107) $ 251,629 The Company’s investments of marketable securities as of June 30, 2024, consisted of the following (in thousands): Amortized Cost Unrealized Gains Unrealized Losses Fair Value U.S. treasury securities $ 52,570 $ 30 $ (83) $ 52,517 Agency securities 3,194 5 — 3,199 Certificates of deposit and time deposits 10,000 — — 10,000 Commercial paper 20,010 — — 20,010 Corporate debt securities 76,386 7 (146) 76,247 Total marketable securities $ 162,160 $ 42 $ (229) $ 161,973
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, 2024 June 30, 2024 Due in one year or less $ 95,456 $ 101,543 Due in one year through five years 156,173 60,430 Total marketable securities $ 251,629 $ 161,973
Schedule of Strategic Investments	Carrying value of privately held debt securities The Company’s investments of privately held debt securities as of December 31, 2024, consisted of the following (in thousands): Amortized Cost Unrealized Gains Unrealized Losses Fair Value Privately held debt securities $ 7,350 $ — $ (3,350) $ 4,000 The Company’s investments of privately held debt securities as of June 30, 2024, consisted of the following (in thousands): Amortized Cost Unrealized Gains Unrealized Losses Fair Value Privately held debt securities $ 6,800 $ — $ (3,350) $ 3,450 The carrying values for privately held equity securities as of December 31, 2024 are summarized below (in thousands): Privately held equity securities Initial total cost $ 165,352 Cumulative net losses (2,491) Carrying value $ 162,861 The carrying values for privately held equity securities as of June 30, 2024 are summarized below (in thousands): Privately held equity securities Initial total cost $ 147,752 Cumulative net losses (2,491) Carrying value $ 145,261
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, 2024 2023 2024 2023 Unrealized losses recognized on privately held equity securities including impairment $ — $ (1,442) $ — $ (1,442) Unrealized losses, net $ — $ (1,442) $ — $ (1,442) Realized gains recognized on sales of publicly traded equity securities — — — 515 Realized losses recognized on privately held equity securities (2,611) — (2,645) — Losses on strategic investments, net $ (2,611) $ (1,442) $ (2,645) $ (927) Unrealized losses recognized during the reporting period on privately held equity securities still held at the reporting date $ — $ (1,442) $ — $ (1,442)
Equity Method Investments	The following table sets forth the carrying amounts of the equity method investment and the movements during fiscal year 2024 and the six months ended December 31, 2024 (in thousands): Equity Method Investment Balance as of June 30, 2023 $ 85,436 Share of losses (11,262) Effect of change in exchange rates 336 Balance as of June 30, 2024 74,510 Share of losses (15,258) Effect of change in exchange rates (3,814) Balance as of December 31, 2024 $ 55,438

Derivative Contracts (Tables)

Derivative Contracts (Tables)	6 Months Ended
	Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Notional Amounts of Outstanding Derivative Positions	The following table sets forth the notional amounts of the Company’s hedging derivative instruments as of December 31, 2024 (in thousands): Notional Amounts of Derivative Instruments Notional Amount by Term to Maturity Classification by Notional Amount Under 12 months Over 12 months Total Cash Flow Hedge Non Hedge Total Forward contracts $ 910,517 $ 71,612 $ 982,129 $ 704,930 $ 277,199 $ 982,129 The following table sets forth the notional amounts of the Company’s hedging derivative instruments as of June 30, 2024 (in thousands): Notional Amounts of Derivative Instruments Notional Amount by Term to Maturity Classification by Notional Amount Under 12 months Over 12 months Total Cash Flow Hedge Non Hedge Total Forward contracts $ 837,182 $ 71,701 $ 908,883 $ 651,303 $ 257,580 $ 908,883
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, 2024 June 30, 2024 Derivative assets Derivatives designated as hedging instruments: Foreign exchange forward contracts Prepaid expenses and other current assets $ — $ 8,255 Foreign exchange forward contracts Other non-current assets — 867 Derivatives not designated as hedging instruments: Foreign exchange forward contracts Prepaid expenses and other current assets 457 170 Total derivative assets $ 457 $ 9,292 Derivative liabilities Derivatives designated as hedging instruments: Foreign exchange forward contracts Accrued expenses and other current liabilities $ 31,153 $ 1,197 Foreign exchange forward contracts Other non-current liabilities 3,600 7 Derivatives not designated as hedging instruments: Foreign exchange forward contracts Accrued expenses and other current liabilities 6,157 497 Total derivative liabilities $ 40,910 $ 1,701
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, 2024 2023 2024 2023 Beginning balance of accumulated gains in accumulated other comprehensive income (loss) $ 51,930 $ 35,583 $ 41,424 $ 48,170 Gross unrealized gains (losses) recognized in other comprehensive income (loss) (57,867) 17,413 (39,852) 9,343 Net losses (gains) reclassified from cash flow hedge in accumulated other comprehensive income (loss) into profit or loss: Recognized in cost of revenues 32 533 (11) 976 Recognized in research and development (2,049) 3,738 (2,489) 5,202 Recognized in marketing and sales (48) 531 9 901 Recognized in general and administrative (400) 1,079 (328) 1,779 Recognized in interest expense (6,865) (7,571) (14,020) (15,065) Ending balance of accumulated gains (losses) in accumulated other comprehensive income (loss) $ (15,267) $ 51,306 $ (15,267) $ 51,306

Property and Equipment (Tables)

Property and Equipment (Tables)	6 Months Ended
	Dec. 31, 2024
Property, Plant and Equipment [Abstract]
Property and Equipment, Net	Property and equipment, net consisted of the following (in thousands): December 31, 2024 June 30, 2024 Equipment $ 13,010 $ 11,200 Computer hardware and software 48,449 40,824 Furniture and fittings 25,500 25,172 Leasehold improvements and other 144,271 137,944 Property and equipment, gross 231,230 215,140 Less: accumulated depreciation and impairment (145,787) (128,825) Property and equipment, net $ 85,443 $ 86,315

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	6 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	Goodwill consisted of the following (in thousands): Goodwill Balance as of June 30, 2024 $ 1,288,756 Additions 3,700 Effect of change in exchange rates (269) Balance as of December 31, 2024 $ 1,292,187
Schedule of Finite-Lived Intangible Assets	Intangible assets consisted of the following (in thousands): December 31, 2024 June 30, 2024 Weighted-Average Remaining Useful Lives Acquired developed technology $ 466,932 $ 469,752 6 Patents, trade names, and other rights 70,928 70,928 7 Customer relationships 135,687 135,687 3 Intangible assets, gross 673,547 676,367 Less: accumulated amortization (400,969) (377,310) Intangible assets, net $ 272,578 $ 299,057
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, 2024 (in thousands): Fiscal Years: Remainder of 2025 $ 27,738 2026 53,030 2027 47,861 2028 45,634 2029 40,128 Thereafter 58,187 Total future amortization expense $ 272,578

Accrued Expenses and Other Cu_2

Accrued Expenses and Other Current Liabilities (Tables)	6 Months Ended
	Dec. 31, 2024
Other Liabilities Disclosure [Abstract]
Accrued Expenses and Other Current Liabilities	Accrued expenses and other current liabilities consist of the following (in thousands): December 31, 2024 June 30, 2024 Accrued expenses $ 164,390 $ 149,046 Employee benefits 248,985 332,518 Tax liabilities 46,294 55,203 Customer deposits 15,328 19,279 Derivative liabilities 37,310 1,694 Other payables 18,976 19,619 Total accrued expenses and other current liabilities $ 531,283 $ 577,359

Debt (Tables)

Debt (Tables)	6 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Schedule of Long-Term Debt Instruments	The components of the Notes were as follows (in thousands, except percentage data): Instrument Expected Remaining Term (years) Contractual Interest Rate Effective Interest Rate December 31, 2024 June 30, 2024 2029 Notes 4.4 5.250 % 5.55 % $ 500,000 $ 500,000 2034 Notes 9.4 5.500 % 5.71 % 500,000 500,000 Unamortized debt discount and issuance costs (13,215) (14,089) Long-term debt $ 986,785 $ 985,911

Commitment and Contingencies (T

Commitment and Contingencies (Tables)	6 Months Ended
	Dec. 31, 2024
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, 2024 2023 2024 2023 Operating lease costs $ 10,909 $ 10,289 $ 21,575 $ 20,606 Right-of-use assets obtained in exchange for new operating lease liabilities $ 13,363 $ 15,928 $ 20,789 $ 21,953

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
Revenue from External Customers by Geographic Areas	The Company’s revenues by geographic region based on end-users who purchased the Company’s products or services are as follows (in thousands): Three Months Ended December 31, Six Months Ended December 31, 2024 2023 2024 2023 Americas United States $ 537,396 $ 445,622 $ 1,043,623 $ 871,813 Other Americas 81,769 68,812 160,041 132,149 Total Americas 619,165 514,434 1,203,664 1,003,962 Total EMEA Germany 131,991 104,596 249,793 195,722 Other EMEA 393,491 320,696 744,958 607,576 Total EMEA 525,482 425,292 994,751 803,298 Asia Pacific 141,816 120,384 275,829 230,625 Total revenues $ 1,286,463 $ 1,060,110 $ 2,474,244 $ 2,037,885
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, 2024 2023 2024 2023 Cloud $ 846,962 $ 653,210 $ 1,639,268 $ 1,257,857 Data Center 362,281 274,758 697,875 517,701 Server — 69,173 — 147,925 Marketplace and other 77,220 62,969 137,101 114,402 Total revenues $ 1,286,463 $ 1,060,110 $ 2,474,244 $ 2,037,885
Contract with Customer, Contract Asset, Contract Liability, and Receivable	The changes in the balances of deferred revenue are as follows (in thousands): Three Months Ended December 31, Six Months Ended December 31, 2024 2023 2024 2023 Balance, beginning of period $ 2,012,820 $ 1,501,081 $ 2,114,736 $ 1,545,479 Additions 1,469,888 1,212,912 2,555,753 2,146,289 Revenue (1,286,463) (1,060,110) (2,474,244) (2,037,885) Balance, end of period $ 2,196,245 $ 1,653,883 $ 2,196,245 $ 1,653,883
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, 2024 2023 2024 2023 Balance, beginning of period $ 83,444 $ 54,530 $ 79,711 $ 53,604 Additions 23,833 20,365 36,063 26,479 Amortization expense (10,026) (5,792) (18,523) (10,980) Balance, end of period $ 97,251 $ 69,103 $ 97,251 $ 69,103 Deferred contract acquisition costs included in: Prepaid expenses and other current assets $ 36,578 $ 24,047 Other non-current assets 60,673 45,056 Total $ 97,251 $ 69,103

Stockholder's Equity (Tables)

Stockholder's Equity (Tables)	6 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Schedule of Unvested Restricted Stock Units Roll Forward	A summary of restricted stock unit (“RSU”) activity for the six months ended December 31, 2024 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, 2024 12,696,964 $ 213.13 $ 2,245,839 Granted 10,445,909 169.02 — Vested (2,995,765) 210.29 615,559 Forfeited or cancelled (1,150,693) 199.73 — Balance as of December 31, 2024 18,996,415 $ 189.33 $ 4,623,347

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	6 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Net Loss Per Share	The following tables present the calculation of basic and diluted net loss per share attributable to common stockholders (in thousands, except per share data): Three Months Ended December 31, Six Months Ended December 31, 2024 2023 2024 2023 Class A Class B Class A Class B Class A Class B Class A Class B Numerator: Net loss $ (23,725) $ (14,483) $ (50,806) $ (33,663) $ (100,188) $ (61,789) $ (69,685) $ (46,667) Denominator: Weighted-average shares outstanding, basic and diluted 162,158 98,989 155,543 103,058 161,321 99,491 154,672 103,582 Net loss per share, basic and diluted $ (0.15) $ (0.15) $ (0.33) $ (0.33) $ (0.62) $ (0.62) $ (0.45) $ (0.45)
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, 2024 2023 2024 2023 Class A Common Stock restricted stock units 6,805 9,806 8,598 8,317 Class A Common Stock restricted stock awards 48 5 33 5 Total 6,853 9,811 8,631 8,322

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Details)	6 Months Ended
	Dec. 31, 2024
Solution Partner | Customer Concentration Risk | Financing Receivable | Internal Investment Grade
Concentration Risk [Line Items]
Concentration risk (more than)	10%

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Measured at Fair Value (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Jun. 30, 2024
Liabilities measured at fair value
Derivative financial instruments	$ 37,310	$ 1,694
U.S. treasury securities
Assets measured at fair value
Total marketable securities	92,875	52,517
Agency securities
Assets measured at fair value
Total marketable securities	3,226	3,199
Certificates of deposit and time deposits
Assets measured at fair value
Total marketable securities	10,000	10,000
Commercial paper
Assets measured at fair value
Total marketable securities	15,248	20,010
Fair Value, Recurring
Assets measured at fair value
Derivative financial instruments	457	9,292
Total assets measured at fair value	1,800,752	1,734,499
Liabilities measured at fair value
Derivative financial instruments	40,910	1,701
Total liabilities measured at fair value	40,910	1,701
Fair Value, Recurring | U.S. treasury securities
Assets measured at fair value
Total marketable securities	92,875	52,517
Fair Value, Recurring | Agency securities
Assets measured at fair value
Total marketable securities	3,226	3,199
Fair Value, Recurring | Certificates of deposit and time deposits
Assets measured at fair value
Total marketable securities	10,000	10,000
Fair Value, Recurring | Commercial paper
Assets measured at fair value
Total marketable securities	15,248	20,010
Fair Value, Recurring | Corporate debt securities
Assets measured at fair value
Total marketable securities	130,280	76,247
Fair Value, Recurring | Money market funds
Assets measured at fair value
Cash and cash equivalents:	1,545,191	1,563,234
Fair Value, Recurring | Commercial paper
Assets measured at fair value
Cash and cash equivalents:	992
Fair Value, Recurring | Corporate debt securities
Assets measured at fair value
Cash and cash equivalents:	2,483
Fair Value, Recurring | Level 1
Assets measured at fair value
Derivative financial instruments	0	0
Total assets measured at fair value	1,545,191	1,563,234
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
Total marketable securities	0	0
Fair Value, Recurring | Level 1 | Agency securities
Assets measured at fair value
Total marketable securities	0	0
Fair Value, Recurring | Level 1 | Certificates of deposit and time deposits
Assets measured at fair value
Total marketable securities	0	0
Fair Value, Recurring | Level 1 | Commercial paper
Assets measured at fair value
Total marketable securities	0	0
Fair Value, Recurring | Level 1 | Corporate debt securities
Assets measured at fair value
Total marketable securities	0	0
Fair Value, Recurring | Level 1 | Money market funds
Assets measured at fair value
Cash and cash equivalents:	1,545,191	1,563,234
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	457	9,292
Total assets measured at fair value	255,561	171,265
Liabilities measured at fair value
Derivative financial instruments	40,910	1,701
Total liabilities measured at fair value	40,910	1,701
Fair Value, Recurring | Level 2 | U.S. treasury securities
Assets measured at fair value
Total marketable securities	92,875	52,517
Fair Value, Recurring | Level 2 | Agency securities
Assets measured at fair value
Total marketable securities	3,226	3,199
Fair Value, Recurring | Level 2 | Certificates of deposit and time deposits
Assets measured at fair value
Total marketable securities	10,000	10,000
Fair Value, Recurring | Level 2 | Commercial paper
Assets measured at fair value
Total marketable securities	15,248	20,010
Fair Value, Recurring | Level 2 | Corporate debt securities
Assets measured at fair value
Total marketable securities	130,280	76,247
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:	992
Fair Value, Recurring | Level 2 | Corporate debt securities
Assets measured at fair value
Cash and cash equivalents:	$ 2,483

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - USD ($) $ in Millions	Dec. 31, 2024	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Privately held debt and equity securities and other investments	$ 166.9	$ 148.7

Investments - Schedule of Marke

Investments - Schedule of Marketable Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Jun. 30, 2024
U.S. treasury securities
Debt and Equity Securities, FV-NI [Line Items]
Amortized Cost	$ 92,684	$ 52,570
Unrealized Gains	246	30
Unrealized Losses	(55)	(83)
Fair Value	92,875	52,517
Certificates of deposit and time deposits
Debt and Equity Securities, FV-NI [Line Items]
Amortized Cost	10,000	10,000
Unrealized Gains	0	0
Unrealized Losses	0	0
Fair Value	10,000	10,000
Commercial paper
Debt and Equity Securities, FV-NI [Line Items]
Amortized Cost	15,248	20,010
Unrealized Gains	0	0
Unrealized Losses	0	0
Fair Value	15,248	20,010
Corporate debt securities
Debt and Equity Securities, FV-NI [Line Items]
Amortized Cost	130,075	76,386
Unrealized Gains	257	7
Unrealized Losses	(52)	(146)
Fair Value	130,280	76,247
Marketable Securities
Debt and Equity Securities, FV-NI [Line Items]
Amortized Cost	251,202	162,160
Unrealized Gains	534	42
Unrealized Losses	(107)	(229)
Fair Value	251,629	161,973
Privately held debt securities
Debt and Equity Securities, FV-NI [Line Items]
Amortized Cost	7,350	6,800
Unrealized Gains	0	0
Unrealized Losses	(3,350)	(3,350)
Fair Value	4,000	3,450
Agency securities
Debt and Equity Securities, FV-NI [Line Items]
Amortized Cost	3,195	3,194
Unrealized Gains	31	5
Unrealized Losses	0	0
Fair Value	$ 3,226	$ 3,199

Investments - Schedule of Mar_2

Investments - Schedule of Marketable Debt Securities by Remaining Contractual Maturity (Details) - Marketable Securities - USD ($) $ in Thousands	Dec. 31, 2024	Jun. 30, 2024
Debt and Equity Securities, FV-NI [Line Items]
Due in one year or less	$ 95,456	$ 101,543
Due in one year through five years	156,173	60,430
Total marketable securities	$ 251,629	$ 161,973

Investments - Carrying Values f

Investments - Carrying Values for Publicly Traded and Privately Held Equity Securities (Details) - Privately held equity securities - USD ($) $ in Thousands	Dec. 31, 2024	Jun. 30, 2024
Debt and Equity Securities, FV-NI [Line Items]
Initial total cost	$ 165,352	$ 147,752
Cumulative net losses	(2,491)	(2,491)
Carrying value	$ 162,861	$ 145,261

Investments - Gains and Losses

Investments - Gains and Losses on Strategic Investments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Unrealized losses recognized on privately held equity securities including impairment	$ 0	$ (1,442)	$ 0	$ (1,442)
Unrealized losses, net	0	(1,442)	0	(1,442)
Realized gains recognized on sales of publicly traded equity securities	0	0	0	515
Realized losses recognized on privately held equity securities	(2,611)	0	(2,645)	0
Losses on strategic investments, net	(2,611)	(1,442)	(2,645)	(927)
Unrealized losses recognized during the reporting period on privately held equity securities still held at the reporting date	$ 0	$ (1,442)	$ 0	$ (1,442)

Investments - Additional Inform

Investments - Additional Information (Details) - USD ($) $ in Millions	Dec. 31, 2024	Jun. 30, 2024
Debt and Equity Securities, FV-NI [Line Items]
Downward price adjustment	$ 7.5	$ 7.5
Upward price adjustment	$ 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) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Dec. 31, 2024	Jun. 30, 2024
Equity Method Investments, Effect Of Foreign Currency Translation [Roll Forward]
Balance as of June 30, 2024	$ 74,510	$ 85,436
Share of losses	(15,258)	(11,262)
Effect of change in exchange rates	(3,814)	336
Balance as of December 31, 2024	$ 55,438	$ 74,510

Derivative Contracts - Notional

Derivative Contracts - Notional Amounts of Hedging Derivative Instruments (Details) - Foreign exchange forward contracts - USD ($) $ in Thousands	Dec. 31, 2024	Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount	$ 982,129	$ 908,883
Under 12 months
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount	910,517	837,182
Over 12 months
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount	71,612	71,701
Cash Flow Hedge
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount	704,930	651,303
Non Hedge
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount	$ 277,199	$ 257,580

Derivative Contracts - Fair Val

Derivative Contracts - Fair Value of Company's Derivative Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative assets	$ 457	$ 9,292
Derivative liabilities	40,910	1,701
Prepaid expenses and other current assets | Foreign exchange forward contracts | Cash Flow Hedge
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative assets	0	8,255
Prepaid expenses and other current assets | Foreign exchange forward contracts | Non Hedge
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative assets	457	170
Other non-current assets | Foreign exchange forward contracts | Cash Flow Hedge
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative assets	0	867
Accrued expenses and other current liabilities | Foreign exchange forward contracts | Cash Flow Hedge
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative liabilities	31,153	1,197
Accrued expenses and other current liabilities | Foreign exchange forward contracts | Non Hedge
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative liabilities	6,157	497
Other non-current liabilities | Foreign exchange forward contracts | Cash Flow Hedge
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative liabilities	$ 3,600	$ 7

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, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Derivative Instruments, Pre-Tax Effects Of Derivatives Designated As Cash Flow Hedging Instruments [Roll Forward]
Beginning balance of accumulated gains in accumulated other comprehensive income (loss)	$ 51,930	$ 35,583	$ 41,424	$ 48,170
Gross unrealized gains (losses) recognized in other comprehensive income (loss)	(57,867)	17,413	(39,852)	9,343
Ending balance of accumulated gains (losses) in accumulated other comprehensive income (loss)	(15,267)	51,306	(15,267)	51,306
Recognized in cost of revenues
Derivative Instruments, Pre-Tax Effects Of Derivatives Designated As Cash Flow Hedging Instruments [Roll Forward]
Net losses (gains) reclassified from cash flow hedge in accumulated other comprehensive income (loss) into profit or loss:	32	533	(11)	976
Recognized in research and development
Derivative Instruments, Pre-Tax Effects Of Derivatives Designated As Cash Flow Hedging Instruments [Roll Forward]
Net losses (gains) reclassified from cash flow hedge in accumulated other comprehensive income (loss) into profit or loss:	(2,049)	3,738	(2,489)	5,202
Recognized in marketing and sales
Derivative Instruments, Pre-Tax Effects Of Derivatives Designated As Cash Flow Hedging Instruments [Roll Forward]
Net losses (gains) reclassified from cash flow hedge in accumulated other comprehensive income (loss) into profit or loss:	(48)	531	9	901
Recognized in general and administrative
Derivative Instruments, Pre-Tax Effects Of Derivatives Designated As Cash Flow Hedging Instruments [Roll Forward]
Net losses (gains) reclassified from cash flow hedge in accumulated other comprehensive income (loss) into profit or loss:	(400)	1,079	(328)	1,779
Recognized in interest expense
Derivative Instruments, Pre-Tax Effects Of Derivatives Designated As Cash Flow Hedging Instruments [Roll Forward]
Net losses (gains) reclassified from cash flow hedge in accumulated other comprehensive income (loss) into profit or loss:	$ (6,865)	$ (7,571)	$ (14,020)	$ (15,065)

Property and Equipment - Proper

Property and Equipment - Property and Equipment, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Jun. 30, 2024
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 231,230	$ 215,140
Less: accumulated depreciation and impairment	(145,787)	(128,825)
Property and equipment, net	85,443	86,315
Equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	13,010	11,200
Computer hardware and software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	48,449	40,824
Furniture and fittings
Property, Plant and Equipment [Line Items]
Property and equipment, gross	25,500	25,172
Leasehold improvements and other
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 144,271	$ 137,944

Property and Equipment - Additi

Property and Equipment - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 9.3	$ 7.2	$ 18.2	$ 14

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Schedule of Goodwill (Details) $ in Thousands	6 Months Ended
	Dec. 31, 2024 USD ($)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 1,288,756
Additions	3,700
Effect of change in exchange rates	(269)
Goodwill, ending balance	$ 1,292,187

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Schedule of Finite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Jun. 30, 2024
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	$ 673,547	$ 676,367
Less: accumulated amortization	(400,969)	(377,310)
Intangible assets, net	272,578	299,057
Acquired developed technology
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	$ 466,932	469,752
Weighted-Average Remaining Useful Lives (Years)	6 years
Patents, trade names, and other rights
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	$ 70,928	70,928
Weighted-Average Remaining Useful Lives (Years)	7 years
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	$ 135,687	$ 135,687
Weighted-Average Remaining Useful Lives (Years)	3 years

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense for intangible assets	$ 13.9	$ 9.9	$ 27.8	$ 18.1

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets - Schedule of Finite-Lived Intangible Assets, Future Amortization Expense (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2025	$ 27,738
2026	53,030
2027	47,861
2028	45,634
2029	40,128
Thereafter	58,187
Total future amortization expense	$ 272,578

Accrued Expenses and Other Cu_3

Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Jun. 30, 2024
Other Liabilities Disclosure [Abstract]
Accrued expenses	$ 164,390	$ 149,046
Employee benefits	248,985	332,518
Tax liabilities	46,294	55,203
Customer deposits	15,328	19,279
Derivative liabilities	37,310	1,694
Other payables	18,976	19,619
Total accrued expenses and other current liabilities	$ 531,283	$ 577,359

Debt - Credit Facility (Details

Debt - Credit Facility (Details) - Line of Credit $ in Millions	1 Months Ended
	Aug. 31, 2024 USD ($)	Oct. 31, 2020 USD ($)
The Credit Facility | Unsecured Debt
Line of Credit Facility [Line Items]
Borrowing capacity		$ 1,000
The Credit Facility | Revolving Credit Facility
Line of Credit Facility [Line Items]
Borrowing capacity		$ 500
The 2024 Credit Agreement
Line of Credit Facility [Line Items]
Consolidated leverage ratio	3.5
Consolidated leverage ration in event of a material acquisition	4.5
The 2024 Credit Agreement | Minimum
Line of Credit Facility [Line Items]
Variable rate	0.875%
Commitment fee, as a percentage	0.075%
The 2024 Credit Agreement | Maximum
Line of Credit Facility [Line Items]
Variable rate	1.50%
Commitment fee, as a percentage	0.20%
The 2024 Credit Agreement | Unsecured Debt
Line of Credit Facility [Line Items]
Borrowing capacity	$ 750
The 2024 Credit Agreement | Revolving Credit Facility
Line of Credit Facility [Line Items]
Amount of increase available	$ 250

Debt - Senior Notes (Details)

Debt - Senior Notes (Details) - USD ($) $ in Thousands	May 15, 2024	Dec. 31, 2024	Jun. 30, 2024
Debt Instrument [Line Items]
Unamortized discount (premium) and debt issuance costs, net		$ 13,215	$ 14,089
Proceeds from issuance of debt, net of issuance costs	$ 985,700
Senior Notes
Debt Instrument [Line Items]
Percentage of face amount	101%
Unamortized discount (premium) and debt issuance costs, net	$ 14,300
Senior Notes | Level 2
Debt Instrument [Line Items]
Estimated fair value		$ 1,000,000	$ 1,000,000
5.250% 2029 Notes | Senior Notes
Debt Instrument [Line Items]
Aggregate principal amount	$ 500,000
Interest rate	5.25%
5.500% 2034 Notes | Senior Notes
Debt Instrument [Line Items]
Aggregate principal amount	$ 500,000
Interest rate	5.50%

Debt - The Notes Carrying Value

Debt - The Notes Carrying Value (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2024	Jun. 30, 2024	May 15, 2024
Debt Instrument [Line Items]
Unamortized debt discount and issuance costs	$ (13,215)	$ (14,089)
Debt, net of current portion	$ 986,785	985,911
Senior Notes
Debt Instrument [Line Items]
Unamortized debt discount and issuance costs			$ (14,300)
5.250% 2029 Notes | Senior Notes
Debt Instrument [Line Items]
Expected remaining term (years)	4 years 4 months 24 days
Interest rate			5.25%
Effective interest rate	5.55%
Aggregate principal amount	$ 500,000	500,000
5.500% 2034 Notes | Senior Notes
Debt Instrument [Line Items]
Expected remaining term (years)	9 years 4 months 24 days
Interest rate			5.50%
Effective interest rate	5.71%
Aggregate principal amount	$ 500,000	$ 500,000

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Dec. 31, 2024	Dec. 31, 2024
Long-Term Purchase Commitment [Line Items]
Purchase commitment	$ 157.3	$ 157.3
Minimum | Cloud Services Platform and Other Services
Long-Term Purchase Commitment [Line Items]
Purchase commitment period		1 year
Minimum | Non-Cancelable Purchase Commitments
Long-Term Purchase Commitment [Line Items]
Purchase commitment period	2 years	2 years
Maximum | Cloud Services Platform and Other Services
Long-Term Purchase Commitment [Line Items]
Purchase commitment period		4 years
Maximum | Non-Cancelable Purchase Commitments
Long-Term Purchase Commitment [Line Items]
Purchase commitment period	3 years	3 years

Commitment and Contingencies -

Commitment and Contingencies - Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Operating lease costs	$ 10,909	$ 10,289	$ 21,575	$ 20,606
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 13,363	$ 15,928	$ 20,789	$ 21,953

Revenue - Remaining Performance

Revenue - Remaining Performance Obligations (Details) $ in Billions	Dec. 31, 2024 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 2.7
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percentage	78%
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, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Disaggregation of Revenue [Line Items]
Total revenues	$ 1,286,463	$ 1,060,110	$ 2,474,244	$ 2,037,885
Cloud
Disaggregation of Revenue [Line Items]
Total revenues	846,962	653,210	1,639,268	1,257,857
Data Center
Disaggregation of Revenue [Line Items]
Total revenues	362,281	274,758	697,875	517,701
Server
Disaggregation of Revenue [Line Items]
Total revenues	0	69,173	0	147,925
Marketplace and other
Disaggregation of Revenue [Line Items]
Total revenues	77,220	62,969	137,101	114,402
Total Americas
Disaggregation of Revenue [Line Items]
Total revenues	619,165	514,434	1,203,664	1,003,962
United States
Disaggregation of Revenue [Line Items]
Total revenues	537,396	445,622	1,043,623	871,813
Other Americas
Disaggregation of Revenue [Line Items]
Total revenues	81,769	68,812	160,041	132,149
EMEA
Disaggregation of Revenue [Line Items]
Total revenues	525,482	425,292	994,751	803,298
Germany
Disaggregation of Revenue [Line Items]
Total revenues	131,991	104,596	249,793	195,722
Other EMEA
Disaggregation of Revenue [Line Items]
Total revenues	393,491	320,696	744,958	607,576
Asia Pacific
Disaggregation of Revenue [Line Items]
Total revenues	$ 141,816	$ 120,384	$ 275,829	$ 230,625

Revenue - Change in Contract Ba

Revenue - Change in Contract Balances (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Contract With Customer, Liability, Revenue Recognized, Change In Contract Balances [Roll Forward]
Balance, beginning of period	$ 2,012,820	$ 1,501,081	$ 2,114,736	$ 1,545,479
Additions	1,469,888	1,212,912	2,555,753	2,146,289
Revenue	(1,286,463)	(1,060,110)	(2,474,244)	(2,037,885)
Balance, end of period	$ 2,196,245	$ 1,653,883	$ 2,196,245	$ 1,653,883

Revenue - Additional Informatio

Revenue - Additional Information (Details)	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Deferred revenue recognized, as a percentage	41%	38%	51%	48%

Revenue - Changes in Balance of

Revenue - Changes in Balance of Deferred Commission (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Capitalized Contract Cost [Roll Forward]
Balance, beginning of period	$ 83,444	$ 54,530	$ 79,711	$ 53,604
Additions	23,833	20,365	36,063	26,479
Amortization expense	(10,026)	(5,792)	(18,523)	(10,980)
Balance, end of period	97,251	69,103	97,251	69,103
Deferred contract acquisition costs included in:
Prepaid expenses and other current assets	36,578	24,047	36,578	24,047
Other non-current assets	60,673	45,056	60,673	45,056
Capitalized contract cost	$ 97,251	$ 69,103	$ 97,251	$ 69,103

Stockholder's Equity - Schedule

Stockholder's Equity - Schedule of RSU Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Jun. 30, 2024
Restricted Stock Units (RSUs)
Number of Shares
Beginning balance (in shares)	12,696,964
Granted (in shares)	10,445,909
Vested (in shares)	(2,995,765)
Forfeited or cancelled (in shares)	(1,150,693)
Ending balance (in shares)	18,996,415
Weighted Average Grant Date Fair Value
Beginning balance (in dollars per share)	$ 213.13
Granted, weighted average grant date fair value (in dollars per share)	169.02
Vested, weighted average grant date fair value (in dollars per share)	210.29
Forfeited or cancelled, weighted average grant date fair value (in dollars per share)	199.73
Ending balance (in dollars per share)	$ 189.33
Aggregate Intrinsic Value
Aggregate intrinsic value, outstanding	$ 4,623,347		$ 2,245,839
Aggregate intrinsic value, vested	$ 615,559
Class A Common Stock restricted stock awards
Number of Shares
Beginning balance (in shares)	156,856
Granted (in shares)	0	301,751
Ending balance (in shares)	104,202
Aggregate Intrinsic Value
Aggregate intrinsic value, outstanding	$ 25,400		$ 27,700

Stockholder's Equity - Narrativ

Stockholder's Equity - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Sep. 30, 2024	Jun. 30, 2024	Jan. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Repurchases of Class A Common Stock (in shares)	400,000		1,500,000
Repurchases	$ 68,364	$ 98,144	$ 252,282	$ 163,485
Shares repurchased, average price per share (in usd per share)	$ 185.95		$ 168.30
Restricted Stock Units (RSUs)
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Cost not yet recognized	$ 2,700,000		$ 2,700,000
Granted (in shares)			10,445,909
Shares outstanding (in shares)	18,996,415		18,996,415			12,696,964
Aggregate intrinsic value, outstanding	$ 4,623,347		$ 4,623,347			$ 2,245,839
Class A Common Stock restricted stock awards
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Granted (in shares)			0	301,751
Shares outstanding (in shares)	104,202		104,202			156,856
Aggregate intrinsic value, outstanding	$ 25,400		$ 25,400			$ 27,700
Share Repurchase Program 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share repurchase program, authorized amount							$ 1,000,000
Remaining authorized repurchase amount	199,600		199,600
Share Repurchase Program 2024
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share repurchase program, authorized amount					$ 1,500,000
Remaining authorized repurchase amount	$ 1,500,000		$ 1,500,000

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, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Numerator:
Net loss	$ (38,208)	$ (84,469)	$ (161,977)	$ (116,352)
Denominator:
Weighted-average shares outstanding, basic (in shares)	261,147,000	258,601,000	260,812,000	258,254,000
Weighted-average shares outstanding, diluted (in shares)	261,147,000	258,601,000	260,812,000	258,254,000
Net loss per share, basic (in USD per share)	$ (0.15)	$ (0.33)	$ (0.62)	$ (0.45)
Net loss per share, diluted (in USD per share)	$ (0.15)	$ (0.33)	$ (0.62)	$ (0.45)
Class A
Numerator:
Net loss	$ (23,725)	$ (50,806)	$ (100,188)	$ (69,685)
Denominator:
Weighted-average shares outstanding, basic (in shares)	162,158,000	155,543,000	161,321,000	154,672,000
Weighted-average shares outstanding, diluted (in shares)	162,158,000	155,543,000	161,321,000	154,672,000
Net loss per share, basic (in USD per share)	$ (0.15)	$ (0.33)	$ (0.62)	$ (0.45)
Net loss per share, diluted (in USD per share)	$ (0.15)	$ (0.33)	$ (0.62)	$ (0.45)
Class B
Numerator:
Net loss	$ (14,483)	$ (33,663)	$ (61,789)	$ (46,667)
Denominator:
Weighted-average shares outstanding, basic (in shares)	98,989,000	103,058,000	99,491,000	103,582,000
Weighted-average shares outstanding, diluted (in shares)	98,989,000	103,058,000	99,491,000	103,582,000
Net loss per share, basic (in USD per share)	$ (0.15)	$ (0.33)	$ (0.62)	$ (0.45)
Net loss per share, diluted (in USD per share)	$ (0.15)	$ (0.33)	$ (0.62)	$ (0.45)

Net Loss Per Share - Antidiluti

Net Loss Per Share - Antidilutive Securities (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (in shares)	6,853	9,811	8,631	8,322
Class A Common Stock restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (in shares)	6,805	9,806	8,598	8,317
Class A Common Stock restricted stock awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (in shares)	48	5	33	5

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Provision for (benefit from) income taxes	$ (8,975)	$ 44,360	$ 84,630	$ 65,289