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This presentation contains “forward-looking” statements within the meaning of federal securities laws, which statements involve substantial risks and uncertainties. Forward-looking
statements include all statements that are not historical facts and, in some cases, can be identified by terms such as “may,” “will,” “should,” “might,” “expects,” “plans,” “anticipates,”
“could,” “intends,” “target,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential,” or “continue” or the negative of these words or other similar terms or expressions that
concern our expectations, strategy, plans or intentions. Forward-looking statements contained in this presentation include, but are not limited to, statements concerning the timing, size, and
terms of the proposed offering; our future financial performance, including our ability to achieve and maintain profitability, our growth prospects and our long-term target model; our ability to
attract and retain customers; our ability to innovate and provide a superior customer experience; our ability to successfully expand in our existing markets and into new markets; and our
ability to effectively manage our growth and future expenses. We caution you that the foregoing list may not contain all of the forward-looking statements made in this communication.
Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance, or achievements to be materially different from
any future results, performance or achievements expressed or implied by the forward-looking statements. You should not rely upon forward-looking statements as predictions of future
events. Forward-looking statements represent our management’s beliefs and assumptions only as of the date such statements are made. For further information regarding risks and
uncertainties associated with our business, you should read the prospectus in the registration statement on Form F-1 (File No. 333-207879), as amended, filed with the SEC, including the risk
factors set forth therein and the documents that we have filed as exhibits to the registration statement, of which the prospectus is a part, completely and with the understanding that our
actual future results may be materially different from what we expect, new risks and uncertainties emerge from time to time, and it is not possible for us to predict all risks and uncertainties
that could have an impact on the forward-looking statements contained in this presentation. Except as required by law we assume no obligation to update these forward-looking statements
publicly, or to update the reasons why actual results could differ materially from those anticipated in the forward-looking statements, even if new information becomes available in the future.
This presentation includes certain non-IFRS financial measures as defined by the SEC rules. These non-IFRS financial measures are in addition to, and not as a substitute for or superior to
measures of financial performance prepared in accordance with IFRS. There are a number of limitations related to the use of these non-IFRS financial measures versus their nearest IFRS
equivalents. For example, other companies may calculate non-IFRS financial measures differently or may use other measures to evaluate their performance, all of which could reduce the
usefulness of our non-IFRS financial measures as tools for comparison. We have provided a reconciliation of those measures to the most directly comparable IFRS measures, which is
available in the appendix.
We have filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in the
registration statement and other documents we filed with the SEC for more complete information about the Company and this offering. A copy of the prospectus may be obtained from
Goldman, Sachs & Co., Attention: Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526, or email: prospectus-ny@ny.email.gs.com; and from Morgan
Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014.
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Offering summary
ISSUER Atlassian Corporation Plc
OPTION TO PURCHASE
15% (100% secondary)
ADDITIONAL SHARES
Goldman, Sachs & Co., Morgan Stanley & Co. LLC, Allen & Company LLC, UBS
BOOK RUNNERS
Securities LLC, Jefferies LLC
Canacord Genuity Inc., JMP Securities LLC, Raymond James & Associates Inc.,
CO-MANAGERS
William Blair & Company LLC
3
IN THE BEGINNING…
For teams,
by teams
4
We believe behind every great
human achievement, there is a team.
Our mission is to unleash the potential
in every team.
5
Atlassian at a glance Revenue growth
(in USD millions)
$320M
$320
51,000+ 5M+
active customers monthly active users
FY13 FY14 FY15
$1 $8 0 27K+
* As of 30 September, 2015 6
FY13 FY14 FY15 Q1’FY16
Investment highlights:
a unique company Versatile products targeting large
markets
Innovation+product culture
MODEL
Predictable growth and history of
profitability
7
Our starting point: teams driving software innovation
Player statistics & analytics Order pizza through web, UPS plans routes with
Nike is turning the shoe
platform through NHL.com phone, watch, TV, voice. real-time traffic data into a connected platform
8
Success with software teams creates path to all teams
LAND
IT LEGAL
EXPAND
MARKETING HR
All teams face increasing complexity
I sent that
to you
already
Is this thing
I think done? Huh?
Luanne is on
that
Tasks &
ORGANIZE
projects
Pages &
files
DISCUSS
Messages,
& calls
Requests
& SLAs
COMPLETE
Code &
reviews
11
Product Video
12
We address very large …with broad expansion
existing markets… opportunities
$35B+ opportunity across markets 800M+ knowledge workers worldwide by 2016
800M+
knowledge workers (2016)
$9B
IT operations
$14B
Collaborative
Applications
100M+
technical team members (2013)
$12B
Developer and
19M
Project Management
Technologies*
software developers (2015)
Use of our products extends
This results in a large and growing active
far beyond the 51k active customers population of active users
51K
324K
Customers
78K
“Starters” 5M+
Monthly Active Users
320K
Free organizations
* As of 30 September, 2015 14
Customers of all sizes in every industry
15
Cochlear
teams deliver
miracles.
Software teams reduced time spent reviewing code by
50%, improving efficiency and quality.
16
Autodesk
teams help their
customers design
the future.
Unified view of teamwork and progress across 4,000
users worldwide.
17
The Daily Telegraph
teams ship news to
the world.
Time for global IT to resolve issues dropped from nine to
three days. Ticket backlog decreased threefold.
18
The Atlassian way
“You have to be odd to be number one.” - Dr. Seuss
19
We invest in developing
THE ATLASSIAN WAY useful, easy to use
COMPANY
We have a culture CULTURE
of transparency,
innovation, and
dedication to the
customer
BUSINESS
MODEL
We offer products at an
affordable price point
through a high-velocity
online model
20
as % of revenue
as % of revenue
R&D
S&M
n
ia
37%
x ss
Bo la
At
lic y
Re k da
ew or
N W
lly lly
Ra Ra
nk x
lu Bo
Sp
ne
to
rs ve
ne Ji
or
C
au
Innovation: at the center of our model
lik b le
Q Ta
sk
k
e es
21
nd nd
Ze Ze
lic
au Re
b le
Ta ew
N
ite nk
su lu
et Sp
N
ow ow
en en
ic ic
rv rv
Se Se
ite
ve su
Ji et
N
ay
kd lik
or Q
PRODUCT PHILOSOPHY
W
ds ds
in in
r w rw
la
new products
purchased a marketplace add-on
22
MODEL PHILOSOPHY
No forms or gates
No custom contracts
No hidden pricing
Sell
online
24
Customer journey: from teams to standardization
Starting team, one or Adds teams, products, Path to all teams, many
more products more users more users, expanded uses
25
A typical day*: volume is our bread & butter
26
Role: IT Manager
Industry: Healthcare
• additional users
Employer size: 5,000 people
Confluence
support site, communities) • more instances of existing
Customer lifetime: 6 months
& Email
“Six tips for JIRA products
Time in product: 28 minutes / day
27
Customer journey: multi-year growth example
$2B+ REVENUE CONSUMER TECHNOLOGY COMPANY
$60,000
$45,000
$30,000
$15,000
$0
FY10 FY11 FY12 FY13 FY14
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Enterprise offerings support scale and growth
“DataCenter”
Products 900
High availability
Performance at scale
Instant scalability
600
Enterprise Services
Responsive: Premier Support 300
Proactive: Technical Account
Management
Integrated: Enterprise Experts
0
FY13 FY14 FY15
29
Land-and-expand in action: Large customer growth
$1,200,000 $1,200,000
$1,000,000 $1,000,000
$800,000 $800,000
$600,000 $600,000
$400,000 $400,000
$200,000 $200,000
$0 $0
FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15
30
Our values are foundational
Giving back is part
to our growth of Atlassian DNA
31
Why we win
Breadth Depth
We serve a diverse set of needs We serve critical needs
with a broad portfolio
Modern Value
Built with today’s technology We disrupt high-priced
to reach tomorrow’s users incumbents, creates large
future expansion opportunity
Integration Marketplace
Leading interoperability and
Developer ecosystem reaches
cohesive experience. long-tail, extends optionality
32
Strategies for growth
33
Experienced leadership team & board
Leadership Team Board of Directors
Shona Brown
Former SVP Business Operations, Google
Board Member at PepsiCo
Doug Burgum (Chairman)
Former Chairman of Board, SuccessFactors
Former CEO / Chairman, Great Plains Software (Microsoft)
Jay Parikh
Head of Global Engineering and Infrastructure, Facebook
Former VP of Engineering at Ning, Akamai
Enrique Salem
Former CEO/President, Symantec
Board Member at FireEye, DocuSign
Rich Wong
General Partner, Accel Partners
Tom Kennedy Murray Demo Jeff Diana
Former SVP Products, OpenWave
MURRAY DEMO
CHIEF FINANCIAL OFFICER
35
Key financial highlights
36
Rapid customer acquisition and attractive expansion
324K
$7
34%
CAGR*
11K+
$1 $1
Day 1 Sales Cumulative 5 Year Sales
FY10 FY11 FY12 FY13 FY14 FY15 Q1’FY16
First purchase More users More products Renewals
Note: CAGR based on FY10-FY15 Note: Based on average of FY09, FY10, FY11 customer cohorts
37
Consistent expansion every year
Annual sales by cohort group
FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15
38
A diversified business
REVENUE BY GEOGRAPHY REVENUE BY CHANNEL REVENUE BY TYPE
27%
27%
40%
50%
50%
5%
73% Other
10% 18%
Direct
License
Asia Pacific
39
Note: As of FY ‘15
Predictable financial model
LINEARITY OF QUARTERLY SALES IN FY15 LARGE AND GROWING RECURRING REVENUE
USD millions
100%
80% $320
% of Quarterly Sales
60% $215
40% $149
81%
Q1'15 Q2'15
20% Q3'15 Q4'15
77% 79% 81%
15
30
45
60
75
90
Recurring Non-recurring
Days
Recurring Revenue = Maintenance, Subscription and selected Other revenue
Target
FY13 FY14 FY15 Model
Note: Expenses, gross margin and operating margin excludes stock based compensation and amortization of intangibles. Free cash flow defined as cash flow from operations less capital expenditure and purchase of intangibles
41
Investment highlights
Innovation+product culture
44
Reconciliation of net cash provided by operating activities to
free cash flow
Fiscal Year Ended June 30 Three Months Ended Sept. 30
45
Reconciliation of gross profit to non-IFRS gross profit
46
Reconciliation of operating expenses to non-IFRS operating
expenses
Fiscal Year Ended June 30
USD in millions 2013 2014 2015
Research and development 57.3 78.6 140.9
(-) Share-based payment expense 1.2 5.1 22.9
Non-IFRS research and development 56.1 73.5 118.0
% of revenue 38% 34% 37%
Marketing and sales 18.8 35.0 68.0
(-) Amortization of intangible assets 0.1 0.1 -
(-) Share-based payment expense 0.6 2.1 6.7
Non-IFRS marketing and sales 18.1 32.8 61.3
% of revenue 12% 15% 19%
General and administrative 26.3 42.0 57.3
(-) Share-based payment expense 1.5 3.6 9.1
Non-IFRS general and administrative 24.8 38.4 48.2
% of revenue 17% 18% 15%
47