Fiscal Year Ended June 30, 2013 June 30, 2014 June 30, 2015 June 30, 2016 June 30, 2017
Revenues
Subscription 28,780 51,007 85,891  146,659 242,128
Maintenance 83,978 112,134 160,373 218,848 265,521
Perpetual license 32,789 44,186 57,373 65,487 74,565
Other 2,965 7,782 15,884 26,064 37,722
Total revenues 148,512 215,109 319,521 457,058 619,936
Cost of revenues(1)(2) 33,031 37,986 52,932 75,783 119,161
Gross profit 115,481 177,123 266,589 381,275 500,775
Operating expenses
Research and development(1) 57,301 78,640 140,853 208,306 310,168
Marketing and sales(1)(2) 18,795 34,968 67,989 93,391 134,908
General and administrative(1) 26,266 40,814 56,033 85,458 118,785
Total operating expenses 102,362 154,422 264,875 387,155 563,861
Operating income 13,119 22,701 1,714 (5,880) (63,086)
Other non-operating income (expense), net (1,918) (562) (2,615) (1,072) (1,342)
Finance income 474 317 226 2,116 4,851
Finance costs (272) (228) (74) (71) (75)
Income (loss) before income tax benefit (expense) 11,403 22,228 (749) (4,907) (59,652)
Income tax benefit (expense) (642) (3,246) 7,524 9,280 17,148
Net income 10,761 18,982 6,775 4,373 (42,504)
Net income per share attributable to ordinary shareholders:
Basic 0.07 0.11 0.04 0.02 (0.19)
Diluted 0.07 0.11 0.04 0.02 (0.19)
Weighted-average shares outstanding used to compute net income per share attributable to ordinary shareholders:
Basic 140,748 141,530 144,008 182,773 222,224
Diluted 142,558 143,602 145,500 193,481 222,224
(1) Amounts include share-based payment expense, as follows:
Cost of revenues 251 625 2,862 5,371 6,856
Research and development 1,189 5,120 22,842 35,735 79,384
Marketing and sales 583 2,068 6,670 11,945 17,395
General and administrative 1,468 3,551 9,160 22,429 33,813
(2) Amounts include amortization of intangible assets, as follows:
Cost of revenues 7,633 7,591 6,417 7,405 14,587
Marketing and sales 129 98 40 86 15,269
Fiscal Year Ended June 30, 2013 June 30, 2014 June 30, 2015 June 30, 2016 June 30, 2017
Operating activities
Income (loss) before income tax 11,403 22,228 (749) (4,907) (59,652)
Adjustments to reconcile income (loss) before income tax to net cash provided by operating activities:
Depreciation and amortization 12,060 13,316 15,511 21,926 61,546
Net loss on disposal of property and equipment 52 32 71 165 (397)
Net unrealized foreign currency (gain) loss 1,842 (1,109) 1,473 152 93
Share-based payment expense 3,491 11,364 41,534 75,480 137,448
Accretion of interest 272 226 54
Change in fair value of contingent consideration 444 10 (155)
Interest income (475) (318) (225) (2,116) (4,851)
Changes in assets and liabilities:
Trade and other receivables (63) (2,705) (8,483) (3,487) (10,208)
Prepaid expenses and other current assets and other non-current assets (1,439) (4,064) (9,295) (4,203) (5,647)
Trade and other payables, provisions and other non-current liabilities 12,883 13,052 16,067 11,622 10,947
Deferred revenue 18,567 24,785 47,381 44,503 72,604
Interest received 631 347 156 2,839 6,540
Income tax paid, net of refunds (5,358) (1,884) (5,065) (12,432) (9,042)
Net cash provided by operating activities 54,310 75,280 98,221 129,542 199,381
Investing activities
Business combinations, net of cash acquired (10,615) —  (381,090)
Purchases of property and equipment (7,246) (8,110) (31,776) (34,213) (15,129)
Purchases of intangible assets (2,149) (900) —  (925)
Proceeds from sale of other assets —  342
Purchases of short-term investments and deposits (12,191) (45,498) (50,033) (569,067) (423,540)
Proceeds from maturities of short-term investments and deposits 7,095 11,641 64,758 65,294 111,403
Proceeds from sales of investments 488,672
Increase in restricted cash (3,371)
Payment of deferred consideration (100) (2,438) (1,025) (935)
Net cash provided by (used in) investing activities (12,442) (46,554) (28,566) (489,510) (224,573)
Financing activities
Proceeds from exercise of share options, including early exercised options 3,042 7,429 2,338 6,732 9,438
Proceeds from issuance of preference shares 2,000
Proceeds from issuance of ordinary shares upon initial public offering, net of issuance costs 431,447
Dividends paid to shareholders (2,201) (10,000)
Deferred offering costs
Net cash provided by (used in) financing activities 2,841 (2,571) 2,338 432,784 9,438
Effect of exchange rate changes on cash and cash equivalents (1,349) 445 (1,665) (201) 465
Net increase (decrease) in cash and cash equivalents 43,360 26,600 70,328 72,615 (15,289)
Cash and cash equivalents at beginning of year 46,806 90,166 116,766 187,094 259,709
Cash and cash equivalents at end of year 90,166 116,766 187,094 259,709 244,420
Period Ended Sept. 30, 2013 Dec. 31, 2013 Mar. 31, 2014 June 30, 2014 Sept. 30, 2014 Dec. 31, 2014 Mar. 31, 2015 June 30, 2015 Sept. 30, 2015 Dec. 31, 2015 Mar. 31, 2016 Jun. 30, 2016 Sept. 30, 2016 Dec. 31, 2016 Mar. 31, 2017 Jun. 30, 2017 Sep. 30, 2017
Revenues
Subscription 10,439 11,971 13,296 15,301 17,176 20,083 22,609 26,023 30,467 33,911 38,691 43,590 49,931 56,326 63,369 72,502 84,378
Maintenance 25,206 26,988 28,505 31,435 34,752 38,451 41,276 45,894 50,354 53,508 56,178 58,808 61,741 65,060 67,072 71,648 76,315
Perpetual license 9,732 10,055 11,692 12,707 12,917 14,321 14,823 15,312 15,501 15,645 16,430 17,911 17,501 18,210 19,495 19,359 19,930
Other 1,623 1,782 2,135 2,242 3,077 2,971 5,255 4,581 5,500 6,642 6,643 7,279 7,614 9,313 9,973 10,822 13,195
Total revenues 47,000 50,796 55,628 61,685 67,922 75,826 83,963 91,810 101,822 109,706 117,942 127,588 136,787 148,909 159,909 174,331 193,818
Cost of revenues (1)(2) 8,588 9,265 9,447 10,686 11,846 12,354 13,468 15,264 16,420 18,473 19,764 21,126 22,562 26,899 32,895 36,805 40,090
Gross profit 38,412 41,531 46,181 50,999 56,076 63,472 70,495 76,546 85,402 91,233 98,178 106,462 114,225 122,010 127,014 137,526 153,728
Operating expenses
Research and development (1) 16,151 18,146 19,621 24,722 29,225 31,543 36,910 43,175 45,460 47,846 54,170 60,830 67,458 69,758 82,262 90,691 94,862
Marketing and sales (1)(2) 6,073 8,239 9,071 11,585 11,997 16,988 19,773 19,231 16,262 21,713 24,436 30,980 24,980 27,416 36,625 45,887 45,466
General and administrative (1) 7,793 10,737 10,316 11,968 12,420 10,821 15,310 17,482 16,602 18,307 24,507 26,042 26,915 27,475 31,190 33,204 35,725
Total operating expenses 30,017 37,122 39,008 48,275 53,642 59,352 71,993 79,888 78,324 87,866 103,113 117,852 119,353 124,649 150,077 169,782 176,053
Operating income (loss) 8,395 4,409 7,173 2,724 2,434 4,120 (1,498) (3,342) 7,078 3,367 (4,935) (11,390) (5,128) (2,639) (23,063) (32,256) (22,325)
Other income (expense), net 80 (579) (73) 10 (1,219) (908) (1,267) 779 (137) (181) 54 (342) (63) (251) (492) (536) (665)
Finance income 79 73 86 79 73 81 22 50 46 123 703 1,244 1,322 1,441 1,040 1,048 1,255
Finance costs (76) (80) (57) (15) (16) (16) (32) (10) (8) (49) (5) (9) (7) (38) (6) (24) (9)
Income (loss) before income tax benefit (expense) 8,478 3,823 7,129 2,798 1,272 3,277 (2,775) (2,523) 6,513 3,260 (4,183) (10,497) (3,876) (1,487) (22,521) (31,768) (21,744)
Income tax benefit (expense) (2,570) (1,283) (657) 1,264 2,311 1,734 2,127 1,352 (1,431) 1,805 3,111 5,795 1,239 (211) 5,060 11,060 7,750
Net income (loss) 5,908 2,540 6,472 4,062 3,583 5,011 (648) (1,171) 5,082 5,065 (1,072) (4,702) (2,637) (1,698) (17,461) (20,708) (13,994)
Net income (loss) per share attributable to ordinary shareholders:
Basic (0.01) (0.01) (0.08) (0.09) (0.06)
Diluted (0.01) (0.01) (0.08) (0.09) (0.06)
Weighted-average shares outstanding used to compute net income (loss) per share attributable to ordinary shareholders:
Basic 218,504 221,316 223,333 225,805 228,156
Diluted 218,504 221,316 233,333 225,805 228,156
(1)Amounts include share-based payment expense, as follows:
Cost of revenues 94 149 160 222 452 739 784 887 1,206 1,301 1,258 1,606 1,339 1,505 1,853 2,159 2,992
Research and development 566 1,208 1,538 1,808 4,632 6,181 5,585 6,444 5,921 7,777 9,495 12,542 16,999 16,159 21,628 24,598 25,971
Marketing and sales 241 466 613 748 1,142 1,784 1,775 1,969 2,742 3,064 2,754 3,385 3,515 3,089 5,336 5,455 6,209
General and administrative 525 857 1,035 1,134 1,700 953 2,887 3,620 4,227 2,910 7,739 7,553 8,670 7,053 8,965 9,125 8,953
(2) Amounts include amortization of intangible assets, as follows:
Cost of revenues 1,912 1,949 1,949 1,781 1,622 1,529 1,529 1,737 1,745 1,830 1,921 1,909 2,202 2,198 4,907 5,280 5,293
Marketing and sales 33 33 25 7 8 8 8 16 21 22 22 21 196 219 4,866 9,988 9,022
Period Ended Sept. 30, 2014 Sept. 30, 2015 Dec. 31, 2014 Dec. 31, 2015 Mar. 31, 2015 Mar. 31, 2016 Jun. 30, 2016 Sept. 30, 2016 Dec. 31, 2016 Mar. 31, 2017 Jun. 30, 2017 Sep. 30, 2017
Operating activities
Income (loss) before income tax 1,272 6,513 3,277 3,260 (4,183) (10,497) (3,876) (1,487) (22,521) (31,768) (21,744)
Adjustments to reconcile income (loss) before income tax to net cash provided by operating activities:
Depreciation and amortization 3,588 4,534 3,551 5,372 5,678 6,342 8,042 11,253 18,485 23,766 20,580
Loss (gain) on sale of investments and other assets (65) (15) 25 (16)
Net unrealized foreign currency (gain) loss 910 564 541 (130) (442) 160 (93) (115) 209 92 20
Share-based payment expense 7,926 14,096 9,657 15,052 21,246 25,086 30,523 27,806 37,782 41,337 44,125
Accretion of interest 11 4
Change in fair value of contingent consideration (155)
Interest income (73) (46) (81) (123) (703) (1,244) (1,322) (1,441) (1,040) (1,048) (1,255)
Changes in assets and liabilities:
Trade and other receivables (3,027) 238 2,303 (4,552) 1,003 (1,101) 627 (12,695) 2,155 (295) (3,719)
Prepaid expenses and other current assets and other non-current assets (300) (3,088) 212 1,850 (796) (2,454) (5,186) 2,416 (89) (2,788) 3,767
Trade and other payables, provisions and other non-current liabilities (9,550) (10,708) 7,705 5,962 10,717 5,647 (8,534) 5,135 12,707 1,639 1,153
Deferred revenue 9,043 6,701 8,466 7,551 15,272 14,979 7,688 16,629 25,035 23,252 22,205
Interest received 55 83 52 23 1,352 1,381 2,296 1,381 1,470 1,393 1,430
Income tax paid, net of refunds (46) (4,487) (1,203) (2,503) (961) (3,271) (1,361) (1,418) (1,255) (5,008) (1,257)
Net cash provided by operating activities 9,654 14,404 34,487 31,899 48,244 34,995 28,462 47,399 72,923 50,597 65,249
Investing activities
Business combinations, net of cash acquired (3,200) (135) (18,295) 362,795
Purchases of property and equipment (5,178) (6,155) (8,760) (3,133) (7,531) (17,394) (2,391) (2,907) (4,623) (5,208) (2,564)
Proceeds from sale of other assets (900) 342
Purchases of short-term investments and deposits (19,236) (4,400) (82) (112,243) (318,785) (133,639) (151,736) (81,628) (105,021) (85,155) (102,341)
Proceeds from maturities of short-term investments and deposits 19,368 19,582 159 15,040 13,202 17,470 34,850 22,250 23,088 31,215 50,768
Proceeds from sales of short-term investments 6,361 43,140 111,882 86,706 235,173 54,911 49,384
Increase in restricted cash                 (3,369)    (2)   (132) 
Payment of deferred consideration (1,025) (185) (750)
Net cash provided by (used in) investing activities (9,146) 8,002 (8,818) (100,336) (306,753) (90,423) (25,533) 20,302 (214,178) (5,164) (4,885)
Financing activities
Proceeds from exercise of share options, including early exercised options 454 1,211 286 2,291 764 2,466 3,717 2,151 1,535 2,035 877
Employee payroll taxes paid related to net share settlement of equity awards (5,395)
Proceeds from issuance of ordinary shares upon initial public offering, net of offering costs (1,745)
Proceeds from issuance of ordinary shares upon initial public offering, net of issuance costs
Dividends paid to shareholders
Net cash provided by (used in) financing activities 454 (534) 286 430,088 764 2,466 3,717 2,151 1,535 2,035 877
Effect of exchange rate changes on cash and cash equivalents (696) (634) (415) 285
371
(223)
390 (435) 440 70 210
Net increase (decrease) in cash and cash equivalents 266 21,238 25,540 361,936 (257,374) (53,185) 7,036 69,417 (139,280) 47,538 61,451
Cash and cash equivalents at beginning of period 116,766 187,094 117,032 208,332 570,268 312,894 259,709 266,745 336,162 196,882 244,420
Cash and cash equivalents at end of period 117,032 208,332 142,572 570,268
312,894 259,709 266,745 336,162 196,882 244,420 305,871
June 30, 2014 June 30, 2015 Sept. 30, 2015 Dec. 31, 2015 Mar. 31, 2016 Jun. 30, 2016 Sept. 30, 2016 Dec. 31, 2016 Mar. 31, 2017 Jun. 30, 2017 Sept. 30, 2017
Assets
Current assets:
Cash and cash equivalents 116,766 187,094 208,332 570,268 312,894 259,709 266,745 336,162 196,882 244,420 305,871
Short-term investments 45,235 30,251 15,057 111,718 410,381 483,405 487,599 459,112 306,676 305,499 307,669
Trade receivables 4,749 13,371 13,115 18,273 17,497 15,233 14,898 27,608 26,481 26,807 30,509
Current tax receivables 1,413 939 2,281 6,857 1,686 6,013 7,506 6,301 6,070 12,445 12,627
Prepaid expenses and other current assets 3,040 6,976 8,717 6,792 7,747 14,178 21,256 17,053 19,337 23,317 20,184
Total current assets 171,203 238,631 247,502 713,908 750,205 778,538 798,004 846,236 555,446 612,488 676,860
Non-current assets:
Property and equipment, net 16,038 41,948 42,029 41,202 48,231 58,762 54,557 49,687 45,190 41,173 38,944
Deferred tax assets 48,222 81,519 89,168 130,297 119,512 127,411 147,433 138,864 179,775 188,239 200,026
Goodwill 1,724 7,152 7,163 7,110 7,172 7,138 22,697 22,584 311,748 311,900 311,967
Intangible assets, net 18,984 21,099 19,352 17,402 15,561 13,577 19,907 17,332 134,992 120,789 106,547
Other non-current assets 5,867 6,812 8,941 5,812 5,691 5,547 5,649 8,404 8,513 9,269 9,202
Total non-current assets 90,835 158,530 166,653 201,823 196,167 212,435 250,243 236,871 680,218 671,370 666,686
Total assets 262,038 397,161 414,155 915,731 946,372 990,973 1,048,247 1,083,107 1,235,664 1,283,858 1,343,546
Liabilities
Current liabilities:
Trade and other payables 38,369 52,636 38,241 41,999 54,473 57,886 48,572 56,245 71,381 73,192 75,494
Current tax liabilities 276 973 109 69 99 286 2,855 2,457 5,250 2,207 1,382
Provisions 2,622 3,314 3,418 3,571 4,180 4,716 5,169 4,852 5,585 6,162 6,156
Deferred revenue 85,262 131,231 137,807 145,217 158,872 173,612 180,603 195,556 221,860 245,306 264,329
Total current liabilities 126,529 188,154 179,575 190,856 217,624 236,500 237,199 259,110 304,076 326,867 347,361
Non-current liabilities:
Deferred tax liabilities 2,936 4,919 4,865 5,515 5,015 6,639 10,248 9,683 57,240 43,950 43,920
Provisions 1,756 1,873 1,772 1,898 2,078 2,170 2,197 2,169 2,942 3,333 3,631
Deferred revenue 3,921 5,334 5,459 5,600 7,217 7,456 8,313 9,988 10,884 10,691 13,873
Other non-current liabilities 1,567 6,827 6,505 7,228 7,733 6,545 9,520 9,955 6,914 4,969 5,392
Total non-current liabilities 10,180 18,953 18,601 20,241 22,043 22,810 30,278 31,795 77,980 62,943 66,816
Total liabilities 136,709 207,107 198,176 211,097 239,667 259,310 267,477 290,905 382,056 389,810 414,177
Equity
Share capital 18,190 18,461 18,631 21,213 21,319 21,620 22,000 22,240 22,422 22,726 22,905
Share premium 2,677 5,744 6,989 438,487 439,327 441,734 446,134 447,468 448,986 450,959 451,810
Other components of equity 39,076 39,194 39,157 38,952 39,814 4,699 290,550 1,047 5,166 6,246 6,859
Other capital reserves 57,259 111,753 131,218 180,933 182,268 244,335 5,448 306,507 379,555 437,346 485,018
Retained earnings (Accumulated deficit) 8,127 14,902 19,984 25,049 23,977 19,275 16,638 14,940 (2,521) (23,229) (37,223)
Total equity 125,329 190,054 215,979 704,634 706,705 731,663 780,770 792,202 853,608 894,048 929,369
Total liabilities and equity 262,038 397,161 414,155 915,731 946,372 990,973 1,048,247 1,083,107 1,235,664 1,283,858 1,343,546