What Atlassian Corporation told the SEC could break it.

Over 50% of fiscal 2025 revenue came from channel partners' sales efforts and one solution partner at times exceeded 10% of total accounts receivable — a concentration in indirect distribution (no single end customer >5% of revenue).

“For fiscal year 2025, we derived over 50% of our revenue from channel partners' sales efforts. At times in fiscal year 2025, one solution partner has represented more than 10% of our total accounts receivable.”

Co-founders Cannon-Brookes and Farquhar control ~85% of voting power through Class B stock, concentrating control and potentially deterring change-of-control transactions or premiums for Class A holders.

“As of June 30, 2025, stockholders who hold our Class B Common Stock collectively hold approximately 85% of the voting power of our outstanding share capital and entities affiliated with our Co-Founders, Michael Cannon-Brookes and Scott Farquhar, collectively hold substantially all of our Class B Common Stock.”

Atlassian acknowledges past exports of products to a small number of persons/organizations subject to U.S. sanctions; violations of export-control/sanctions laws could bring substantial fines and penalties and restrict international sales.

“Although we take precautions to prevent our products from being provided in violation of such laws, we are aware of previous exports of certain of our products to a small number of persons and organizations that are the subject of U.S. sanctions or located in countries or regions subject to U.S. sanctions. If we are found to be in violation of U.S. sanctions or export control laws, it could result in substantial fines and penalties for us and for the individuals working for us.”

Atlassian relies on third-party partners to build Marketplace apps that connect to its Cloud (and third-party vendors for product support); those apps may carry bugs/vulnerabilities posing data-security risk to customers.

“we rely on third-party partners to develop apps on the Atlassian Marketplace that connect with and enhance our Cloud offerings for our customers. These apps may not meet the same quality standards that we apply to our own development efforts and have in the past, and may in the future, contain bugs, vulnerabilities, or defects that pose data security risks to our customers or lead to the unauthorized access of user data.”