Atlassian Corp (TEAM) 2022 Q2 法說會逐字稿

Good afternoon. Thank you for joining Atlassian's Earnings Conference Call for the Second Quarter of Fiscal Year 2022. As a reminder this conference call is being recorded, and will be available for replay from the Investor Relations section of Atlassian's website following this call.

下午好。感謝您參加 Atlassian 的 2022 財年第二季度收益電話會議。提醒一下，本次電話會議正在錄音中，電話會議結束後可在 Atlassian 網站的投資者關係部分重播。

I will now hand the call over to Martin Lam, Atlassian's Head of Investor Relations.

我現在將電話轉交給 Atlassian 的投資者關係主管 Martin Lam。

Welcome to Atlassian's Second Quarter of Fiscal Year 2022 Earnings Call. Thank you for joining us today. On the call today, we have Atlassian's co-Founders and co-CEOs, Scott Farquhar and Mike Cannon-Brookes; our Chief Financial Officer, James Beer; and our Chief Revenue Officer, Cameron Deatsch. Earlier today, we published a shareholder letter and press release with our financial results and commentary for our second quarter fiscal year 2022. The shareholder letter is available on Atlassian's Work Life blog in the Investor Relations section of our website, where you will also find other earnings-related materials, including the earnings release, press release and supplemental Investor Day issue. As always, our shareholder letter contains management's insight and commentary for the quarter. So during the call today, we'll have brief opening remarks and then focus the rest of our time on Q&A.

歡迎參加 Atlassian 2022 財年第二季度財報電話會議。感謝您今天加入我們。在今天的電話會議上，我們有 Atlassian 的聯合創始人和聯合首席執行官 Scott Farquhar 和 Mike Cannon-Brookes；我們的首席財務官 James Beer；和我們的首席營收官 Cameron Deatsch。今天早些時候，我們發布了一封股東信函和新聞稿，其中包含我們 2022 財年第二季度的財務業績和評論。股東信函可在我們網站投資者關係部分的 Atlassian 工作生活博客上找到，您還可以在其中找到其他與收益相關的材料，包括收益發布、新聞稿和補充投資者日問題。與往常一樣，我們的股東信中包含管理層對本季度的見解和評論。因此，在今天的電話會議中，我們將做簡短的開場白，然後將剩下的時間集中在問答上。

This call will include forward-looking statements. Forward-looking statements include known and unknown risks, uncertainties and other factors that may cause 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, and we assume no obligation to update or revise such statements should they change or cease to be current. Further information on these and other factors that could affect the company's financial results included in filings we make with the Securities and Exchange Commission from time to time, including the section titled Risk Factors in our most recent Form 20-F and quarterly Form 6-K.

本次電話會議將包括前瞻性陳述。前瞻性陳述包括可能導致實際結果、業績或成就與前瞻性陳述明示或暗示的任何未來結果、業績或成就存在重大差異的已知和未知風險、不確定性和其他因素。您不應依賴前瞻性陳述作為對未來事件的預測。前瞻性陳述僅代表我們管理層在做出此類陳述之日的信念和假設，如果此類陳述發生變化或不再是最新的，我們不承擔更新或修改此類陳述的義務。我們不時向證券交易委員會提交的文件中包含可能影響公司財務業績的這些和其他因素的更多信息，包括我們最近的 20-F 表格和季度 6-K 表格中標題為“風險因素”的部分.

During today's call, we will also discuss non-IFRS financial measures. These non-IFRS financial measures are in addition to and not a substitute for or superior to measures of financial performance prepared in accordance with IFRS. A reconciliation between IFRS and non-IFRS financial measures is available in our shareholder letter, earnings release and investor data sheet on our IR website. During Q&A, please ask your full question upfront so that we can be fair and be able to accommodate the next speaker.

在今天的電話會議中，我們還將討論非國際財務報告準則財務措施。這些非 IFRS 財務指標是對根據 IFRS 編制的財務業績指標的補充，而不是替代或優於這些指標。國際財務報告準則與非國際財務報告準則財務指標之間的對賬可在我們投資者關係網站上的股東信函、收益發布和投資者數據表中找到。在問答期間，請提前提出您的完整問題，以便我們公平並能夠容納下一位發言人。

With that, I'll turn the call over to Scott for opening remarks.

有了這個，我會把電話轉給 Scott 做開場白。

Thank you for joining us today. Happy New Year to everyone. Q2 was another strong quarter as we continued to see great momentum. It's extremely encouraging to see many of our past long-term investments reflected in our Q2 results. The Atlassian Marketplace, which we started in 2012, recently surpassed $2 billion in lifetime sales. Cloud apps now make up nearly half of all Marketplace apps, and the way at which customers are adopting cloud apps is outpacing our own cloud products.

感謝您今天加入我們。祝大家新年快樂。第二季度是另一個強勁的季度，因為我們繼續看到強勁的勢頭。看到我們過去的許多長期投資反映在我們的第二季度業績中，這非常令人鼓舞。我們於 2012 年啟動的 Atlassian 市場最近的終生銷售額超過了 20 億美元。雲應用程序現在佔所有 Marketplace 應用程序的近一半，客戶採用雲應用程序的方式超過了我們自己的雲產品。

It's exciting to see our ecosystem grow at such a rapid pace and for us to be able to expand the economy around Atlassian. IT was an area we were committed to doubling down on 3 years ago. Recently, Jira Service Management was recognized as a leader in the Forrester Enterprise Service Management Wave, with our strategy for ESM receiving the highest possible score. We also recently added Percept.ai to bring AI-powered virtual agent technology to expand JSM's frontline support capabilities.

很高興看到我們的生態系統以如此快速的速度發展，並且我們能夠圍繞 Atlassian 擴展經濟。 IT 是我們在 3 年前承諾加倍努力的領域。最近，Jira Service Management 被公認為 Forrester Enterprise Service Management Wave 的領導者，我們的 ESM 策略獲得了最高分。我們最近還添加了 Percept.ai，以引入 AI 驅動的虛擬代理技術來擴展 JSM 的前線支持能力。

Our continued investment and innovation in our cloud platform are driving great results. This quarter, we added more than 10,000 net new customers, nearly all landing in cloud, and quarterly cloud revenue grew 58% year-over-year. As you've already read in our shareholder letter, we're looking forward and laser-focused on investing in the future. Hiring is our top priority. We deeply believe in a massive market opportunity in front of us, and investing in people is our path to see these opportunities.

我們對雲平台的持續投資和創新正在推動取得巨大成果。本季度，我們新增了超過 10,000 家淨新客戶，幾乎全部登陸雲，季度雲收入同比增長 58%。正如您在我們的股東信中已經讀到的那樣，我們期待並專注於投資未來。招聘是我們的首要任務。我們深信擺在我們面前的巨大市場機會，而投資於人是我們看到這些機會的途徑。

Lastly, we hope you can join us for Team '22 in April. We are cautiously optimistic to be back in person with our customers and partners, and we hope to see many of you there. But we're thrilled to also be able to host viewing parties around the globe and offer virtual options as well.

最後，我們希望您能在四月加入我們的 Team '22。我們對與我們的客戶和合作夥伴親自見面持謹慎樂觀的態度，我們希望在那裡見到你們中的許多人。但我們很高興能夠在全球舉辦觀看派對並提供虛擬選項。

With that, I'll pass the call to the operator for Q&A.

有了這個，我會把電話轉給接線員進行問答。

(Operator Instructions) Our first question comes from the line of Alex Zukin from Wolfe Research.

（操作員說明）我們的第一個問題來自 Wolfe Research 的 Alex Zukin。

Congratulations on another just wonderful quarter. I guess maybe for me, how should we think about the results relative to your internal plan? And what were the 2 biggest areas that outperformed your expectations? And if you can, any bottlenecks to growth at the moment? And how are those different than maybe this time a year ago?

祝賀又一個美妙的季度。我想也許對我來說，我們應該如何考慮與您的內部計劃相關的結果？超出您預期的兩個最大領域是什麼？如果可以的話，目前增長的瓶頸是什麼？這些與一年前的這個時候有何不同？

Well, thanks for the question. I'd start off by saying I was really pleased with the performance against our plans really right across the board. You see very strong performance in both the cloud and data center businesses. If I were to pick out one product, it would be JSM. I think that's just really hitting the mark with customers, a big opportunity for us going forward.

嗯，謝謝你的問題。我首先要說我對我們計劃的全面表現感到非常滿意。您會在雲和數據中心業務中看到非常強勁的表現。如果我要挑選一種產品，那就是 JSM。我認為這對客戶來說真的很重要，這對我們來說是一個很大的機會。

That has, of course, given us the confidence to raise our full year subscription revenue guidance to around 50%. That's up from the mid-40s percent that we were talking about 90 days ago. And the other thing I would really highlight is I feel we are very much on track with our migrations time line. So pleased by that.

當然，這讓我們有信心將全年訂閱收入指引提高到 50% 左右。這比我們 90 天前談論的 40% 中期有所上升。我要真正強調的另一件事是，我覺得我們的遷移時間線非常順利。對此非常高興。

In terms of the last part of your question, I see demand continuing to be strong for both the cloud and data center businesses. I don't see bottlenecks there in the future. One of the other things I'm sure we'll talk more about this is the continual progress we have with increasing the capabilities of our cloud quarter-by-quarter. And as we do that, obviously, more and more of our currently behind-the-firewall customers are able to move over to the cloud. It's clear that they want to go in that direction and increasingly each quarter, we're making that possible. So we feel good about the opportunities in front of us.

關於你問題的最後一部分，我認為雲和數據中心業務的需求持續強勁。我認為未來不會出現瓶頸。我相信我們會更多地談論這一點的另一件事是我們在逐季度增加雲功能方面取得的持續進展。當我們這樣做時，很明顯，我們目前越來越多的防火牆客戶能夠遷移到雲中。很明顯，他們希望朝著這個方向前進，並且每個季度都越來越多，我們正在使這成為可能。因此，我們對擺在我們面前的機會感覺良好。

The next question comes from the line of Nikolay Beliov from Goldman Sachs.

下一個問題來自高盛的 Nikolay Beliov。

James, one for you. When will we start seeing the migration impact from server and data center to cloud in the numbers of loyalty discounts unwind over time? Are we talking maybe a year from now or 2 years from now? And as a follow-up to the team, in general, as you move to the cloud, your pricing really is changing and you started the company probably 20-plus years ago with a business model all running very low price compared with competitors. And now, for example, Jira Premium is $15 and enterprise probably a little bit higher, approaching the pricing of competitors. So I would think that's kind of a major shift in strategy here. And how is that reflecting in the business model and the type of the company going forward in light of that context?

詹姆斯，給你一個。我們什麼時候會開始看到從服務器和數據中心到雲的遷移影響，忠誠度折扣的數量會隨著時間的推移而減少？我們說的是一年後還是兩年後？作為團隊的後續行動，一般來說，當您遷移到雲端時，您的定價確實在發生變化，您可能在 20 多年前創辦了這家公司，其商業模式與競爭對手相比，價格都非常低。例如，現在，Jira Premium 的價格為 15 美元，而企業版的價格可能略高一些，接近競爭對手的定價。所以我認為這是戰略的重大轉變。鑑於這種情況，這如何反映在商業模式和公司類型中？

Well, Nikolay, let me start the answer there. In terms of the impact from migrations, what we're saying is that for fiscal '22, so for the full year, we would expect migrations to be driving mid- to high single-digit growth in our revenue year-over-year. So you can contrast that, of course, to what I was just pointing out there in terms of our expectation of around 50% growth for subscription revenue in fiscal '22.

好吧，尼古拉，讓我從那裡開始回答。就遷移的影響而言，我們所說的是，對於 '22 財年，全年，我們預計遷移將推動我們的收入同比增長中高個位數。因此，您當然可以將其與我剛剛指出的內容進行對比，即我們對 22 財年訂閱收入增長約 50% 的預期。

And then I would add that in the quarter just passed, Q2, it was a very similar sort of figure mid- to high single-digit type contribution to the growth rate that we recorded in Q2. So that 64% subscription revenue growth of Q2, about mid- to high single digits coming from migrations.

然後我要補充一點，在剛剛過去的第二季度，這是一個非常相似的中高個位數對我們在第二季度記錄的增長率的貢獻。因此，第二季度訂閱收入增長了 64%，大約來自遷移的中高個位數。

Just a couple of other things. I would add, you referenced in your question there are loyalty discounts. So today and until the end of June, somebody moving over to the cloud from either a server or data center, they would receive a 40% discount. Now once we get into July in a few months' time here, that discount will halve down to 20%. So that's important to remember.

只是其他幾件事。我要補充的是，您在問題中提到有忠誠度折扣。因此，從今天到 6 月底，有人從服務器或數據中心遷移到雲，他們將獲得 40% 的折扣。現在，一旦我們在幾個月後進入 7 月，折扣將減半至 20%。所以記住這一點很重要。

The other thing I'd say is that when a customer migrates over to the cloud, of course, in the period that they make that migration, that's a very modest impact on our revenue. Obviously, the cloud business is recognized ratably in terms of the accounting. So those are the 3 points to keep in mind.

我要說的另一件事是，當客戶遷移到雲時，當然，在他們進行遷移的期間，這對我們的收入影響很小。顯然，雲業務在會計上是得到認可的。所以這些是要記住的3點。

I will add, just on the back of James, around sort of our price philosophy that we've talked about. And I just want to say there's no change to our pricing philosophy and hasn't really over the 20 years we've been running Atlassian. We've always priced for volume, and we talked about reaching the Fortune 500,000 and reaching millions of people around the world. And that's what we've always priced for.

我將在詹姆斯的背後補充一下我們已經討論過的價格理念。我只想說，我們的定價理念沒有改變，在我們運行 Atlassian 的 20 年裡也沒有真正改變。我們一直按數量定價，我們談到要達到財富 500,000 強並覆蓋全球數百萬人。這就是我們一直以來的定價。

And so what you've seen sort of in terms of how that's manifested in our kind of list prices over the years is we've made it cheaper at the low end consistently by making it more free over time. And we've also captured more value at the higher end where we're providing more and more value for our largest customers. And of course, as the cloud provides more value for customers, we take a lot of the management overhead away from customers. We're providing the hardware. And so our customers are happy for -- to give us those responsibilities.

因此，就這些年來在我們的標價中體現的方式而言，您所看到的是，隨著時間的推移，我們一直在降低低端價格，使其更加免費。我們還在高端領域獲得了更多價值，為我們最大的客戶提供越來越多的價值。當然，隨著雲為客戶提供更多價值，我們從客戶那里分走了很多管理開銷。我們提供硬件。所以我們的客戶很高興 - 給我們這些責任。

And so I don't see there being any real change to our pricing philosophy, and I continue to see us do more free at the low end and more optimization at the high end as we deliver more value at the time.

所以我認為我們的定價理念沒有任何真正的變化，我繼續看到我們在低端做更多的免費，在高端做更多的優化，因為我們當時提供了更多的價值。

The next question comes from the line of Michael Turrin from Wells Fargo.

下一個問題來自富國銀行的 Michael Turrin。

Congrats from me as well on an impressive set of results here. Some of the commentary around ITSM and Jira Service Management stands out in the shareholder materials. You even have Cameron picking a favorite, which I'm sure isn't easy. Maybe you can speak to what's driving the momentum there. How that's impacting the model where that might be showing up? And maybe what makes Jira Service Management the right product at the right time as you referenced in the customer section.

我也祝賀這裡取得了令人印象深刻的結果。一些關於 ITSM 和 Jira Service Management 的評論在股東材料中脫穎而出。你甚至讓卡梅倫挑選了一個最喜歡的，我敢肯定這並不容易。也許你可以談談是什麼推動了那裡的勢頭。這對可能出現的模型有何影響？正如您在客戶部分中提到的那樣，也許是什麼讓 Jira Service Management 在正確的時間成為正確的產品。

Yes. Scott here, I'll take that one. Look, Jira Service Management is uniquely positioned to handle the convergence of developers and IT. And we're seeing in the market these days that IT is no longer an island over by themselves. It's no longer upgrading things that were handed on a CD over a weekend and taking people down. Developers and IT are working hand-in-hand to transform their organizations. And there's no other vendor out there that has that sort of unique position of bringing dev and IT together.

是的。斯科特在這裡，我要那個。看，Jira Service Management 在處理開發人員和 IT 的融合方面具有獨特的優勢。這些天我們在市場上看到，IT 不再是一個孤島。它不再升級在一個週末通過 CD 交付的東西並讓人們失望。開發人員和 IT 部門正在攜手合作，改造他們的組織。並且沒有其他供應商具有將開發人員和 IT 結合在一起的獨特地位。

And the second aspect is we're the only company that allows us to -- that can handle the Fortune 500 all the way to the Fortune 500,000 as we've talked about, Mike, and that comes from a deep focus on the end user experience, right, which is -- which we've delivered on across our product range for multi-decades at the moment and bringing that to IT in order to add value there. And you've seen us -- so we're going to invest in ITSM 3 years ago when you've seen a consistent drumbeat of innovation. We've done some acquisitions to add functionality, but most of it's been in-house innovation and building up the feature set across our entire product range.

第二個方面是我們是唯一一家允許我們處理財富 500 強一直到財富 500,000 強的公司，正如我們所談到的，邁克，這來自對最終用戶的高度關注經驗，是的，這是我們數十年來在我們的產品範圍內交付的經驗，並將其帶到 IT 部門，以便在那裡增加價值。你已經看到了我們——所以我們將在 3 年前投資 ITSM，那時你已經看到了持續不斷的創新鼓聲。我們進行了一些收購以增加功能，但其中大部分是內部創新並在我們的整個產品範圍內構建功能集。

And so we're super excited that that's being recognized by analysts out there, which is great, but more importantly, being recognized by our customers who are adopting it in droves. And so it wasn't a surprise. I mean it was our plan 3 years ago to do this. And because we've got a great platform, we've been able to move relatively quickly in delivering all the value to our customers. And so we expect ITSM to continue to grow into the future.

因此，我們非常高興能得到分析師的認可，這很好，但更重要的是，得到了成群採用它的客戶的認可。所以這並不奇怪。我的意思是我們三年前的計劃就是這樣做的。而且因為我們有一個很棒的平台，我們能夠相對快速地為我們的客戶提供所有價值。因此，我們預計 ITSM 將在未來繼續發展。

The next question comes from the line of Keith Weiss with Morgan Stanley.

下一個問題來自摩根士丹利的 Keith Weiss。

Congratulations on another really, really nice quarter. I wanted to ask about 2 of -- probably hitting that quarter full of a lot of eye-popping numbers to the numbers that really stood out to me. One was data center seeing another acceleration in growth to 83%. Anything kind of onetime in nature we should be aware of in that number? I know there's a tough comp coming in Q3. So (inaudible) because they've seen that growth, but how should we think about what drove that acceleration?

祝賀另一個非常非常好的季度。我想問一下其中的 2 個——可能在那個季度充滿了很多令人瞠目結舌的數字，而這些數字對我來說真的很突出。一個是數據中心的增長再次加速至 83%。在這個數字中，我們應該注意什麼是一次性的？我知道第三季度會有一場艱難的比賽。所以（聽不清）因為他們已經看到了這種增長，但我們應該如何思考是什麼推動了這種加速？

And two, there was a comment about channel partner revenue growth accelerating. It was 130% growth year-on-year. Anything in particular changing in that program that caused that acceleration? And if you give us some type of sense as that become a more material channel, is that starting to move the needle a little bit more for the broader Atlassian distribution strategy?

第二，關於渠道合作夥伴收入增長加速的評論。同比增長 130%。該程序中有什麼特別的變化導致了這種加速？如果你給我們一些感覺，因為它變成了一個更重要的渠道，這是否開始為更廣泛的 Atlassian 分發策略移動一點點？

Based on the question -- so this is Cameron here. And as far as the data center demand, the best way to look at that is it's just showing further commitment from our customer base into the Atlassian ecosystem. And also the highlights of the mission criticality of our applications. As we continue to say that, that migration to cloud is a multiyear journey. Different customers are on different stages of that journey, and that path to data center for many of them is a step towards the cloud.

基於這個問題——我是 Cameron。就數據中心的需求而言，最好的觀察方式是表明我們的客戶群對 Atlassian 生態系統的進一步承諾。以及我們應用程序任務關鍵性的亮點。正如我們繼續說的那樣，遷移到雲是一個多年的旅程。不同的客戶處於這一旅程的不同階段，對於他們中的許多人來說，通往數據中心的道路是邁向雲計算的一步。

All of them are well aware that cloud, our investments in cloud, our strategy on cloud and that cloud is in their future. But they're at all different levels of maturity of when they're able to move over. But the reality is, if you look to the last quarter, 1/3 of our cloud migrations came from data center customers. So we have proven that we can take the data center customer base to the cloud.

他們都清楚雲、我們對雲的投資、我們的雲戰略以及雲是他們的未來。但他們處於不同的成熟程度，何時能夠搬家。但現實情況是，如果您查看上個季度，我們 1/3 的雲遷移來自數據中心客戶。因此，我們已經證明我們可以將數據中心客戶群帶到雲端。

The second one is around our solution partners in our channel, which are just absolutely critical to our overall efficient go-to-market model that we have. Everything we do directly with my teams and marketing and sales and customer success gets amplified with our hundreds of solution partners out there in the market. And obviously, as you see in the numbers, the solution partners have been increasingly critical to our cloud migration process. The reality is now we provide a variety of incredible self-serve migration tooling for customers to move to the cloud, but many of our customers want help from planning out the migration to managing the migration itself and partnering with Atlassian. And that has allowed for us to continue to show great growth.

第二個是圍繞我們渠道中的解決方案合作夥伴，這對我們擁有的整體高效上市模式至關重要。我們直接與我的團隊以及營銷和銷售以及客戶成功所做的一切都通過我們在市場上的數百個解決方案合作夥伴得到放大。顯然，正如您在數字中看到的那樣，解決方案合作夥伴對我們的雲遷移過程越來越重要。現在的現實是，我們為客戶提供了各種令人難以置信的自助式遷移工具來遷移到雲，但我們的許多客戶都需要幫助，從規劃遷移到管理遷移本身以及與 Atlassian 合作。這使我們能夠繼續顯示出巨大的增長。

In general, for large customers, when I'm talking to them, the first thing I'd say is, "Hey, which partners are you working with? Who can we partner with to build this plan out hand-in-hand going forward?"

一般來說，對於大客戶，當我與他們交談時，我會說的第一件事是，“嘿，您與哪些合作夥伴合作？我們可以與誰合作來攜手製定這個計劃向前？”

And let me just add on to the first part of Cameron's answer there. In terms of data center growth, a couple of things also to remember in terms of Keith, you referred to something like a onetime nature. I think about the rev rec, remember that a portion of the data center activity that we would contract with a customer is taken upfront, so. That's quite different to our cloud revenue accounting, which is fully ratable.

讓我補充一下卡梅倫回答的第一部分。就數據中心的增長而言，還有幾件事要記住，就 Keith 而言，您提到了類似一次性性質的東西。我想到了rev rec，請記住，我們將與客戶簽訂合同的數據中心活動的一部分是預先採取的，所以。這與我們的雲收入會計完全不同，後者是完全可評級的。

And then the other thing I'd just point out, recall, we raised prices around this time last year on the data center. The full effect of that is now flowing through. And so both those things give a little extra fuel to the inherent demand that Cameron is referring to for data center.

然後我要指出的另一件事，回想一下，我們在去年這個時候提高了數據中心的價格。它的全部效果現在正在流淌。因此，這兩件事都為卡梅倫所指的數據中心的內在需求提供了額外的動力。

Your next question comes from the line of Fred Havemeyer with Macquarie.

您的下一個問題來自麥格理的 Fred Havemeyer。

Congratulations on another really impressive quarter here. I wanted to ask, from your perspective, how does the hiring landscape for top-tier talent, how is that evolving at this point? You mentioned throughout your investor letter that your hybrid work policies have been a strategic differentiator for your hiring practices. In addition to just offering hybrid remote work options, are you seeing anything out there to suggest that top talent is now weighing either compensation packages or stock comp packages any differently in this more volatile environment, potentially favoring companies like Atlassian?

祝賀這裡又一個令人印象深刻的季度。我想問一下，從您的角度來看，頂級人才的招聘環境如何，目前情況如何？您在整個投資者信函中提到，您的混合工作政策已成為您招聘實踐的戰略差異化因素。除了提供混合遠程工作選項之外，您是否看到任何跡象表明頂尖人才現在在這個更加動蕩的環境中以不同的方式權衡薪酬方案或股票薪酬方案，這可能有利於 Atlassian 等公司？

Thanks, Fred. It's Scott here. Look, we've been really happy with our TEAM Anywhere policy. That's to allow people to work wherever they want, whether that's in an office, that's great although that's been a little harder through the pandemic, and -- or wherever we have the legal right to employ them. So we have seen a lot of our employees, our new employees are working remote from existing offices and we've seen existing employees move as well. So that's really great. We think that's going to be a long-term differentiator for Atlassian. And I think that's going to be difficult for companies who don't have small policies to attract and retain the best talent.

謝謝，弗雷德。這裡是斯科特。看，我們對我們的 TEAM Anywhere 政策非常滿意。這是為了讓人們可以在他們想要的任何地方工作，無論是在辦公室裡，這很好，儘管在大流行期間這有點困難，而且——或者在我們有合法權利僱傭他們的任何地方。所以我們看到了很多員工，我們的新員工在現有辦公室遠程工作，我們也看到現有員工也搬家了。所以這真的很棒。我們認為這將成為 Atlassian 的長期差異化因素。而且我認為對於沒有小政策來吸引和留住最優秀人才的公司來說，這將是困難的。

In terms of compensation, we have seen some minor upticks in compensation. We were early to that, I guess, ahead of many sort of peer companies who I guess have waited to see attrition tick up before they address the thing. And so we're really proud with how we've worked on that with our employees. And there's been talk of the Great Resignation across, particularly North America, but we haven't seen an uptick in a similar way that our peers have seen an uptick around that.

在薪酬方面，我們看到薪酬略有上升。我猜我們早到了，領先於許多同行公司，我猜他們在解決這個問題之前等著看到減員增加。因此，我們對我們與員工合作的方式感到非常自豪。並且在整個地區，尤其是北美，都在談論大辭職，但我們還沒有看到類似的上升，我們的同行已經看到了類似的上升。

Now on the back of all that, we are setting aggressive goals for hiring into the future. Like we think and see we have such great opportunities across all 3 of the markets that we have talked to you at length about. And the way of going about that is building out our largely R&D functions to build out the products that's needed to go after these large markets. And so we're -- you'll see an uptick in our investment over the coming quarters and years, and we think that's going to pay off really well for us.

現在，在這一切的背後，我們正在為未來的招聘設定積極的目標。就像我們認為和看到的那樣，我們在與您詳細討論的所有三個市場中都有如此巨大的機會。解決這個問題的方法是建立我們主要的研發職能，以建立進入這些大型市場所需的產品。所以我們——你會看到我們在未來幾個季度和幾年的投資增加，我們認為這對我們來說會得到很好的回報。

Your next question comes from the line of Steve Enders with KeyBanc.

您的下一個問題來自於 KeyBanc 的 Steve Enders。

I just want to ask about Sri exiting as CTO. I just want to get a bit of sense for what the kind of plans are to manage his responsibilities going forward and how the company is thinking about that at this point.

我只是想問一下 Sri 退出 CTO 的情況。我只是想了解一下管理他未來職責的計劃是什麼，以及公司在這一點上是如何考慮的。

Yes. Steve, it's Mike. I can take that one. Look, Sri's obviously been an absolutely fantastic leader in technology over the last 6 years. He's taken us into the cloud and then continued to build a truly world-class cloud platform so we couldn't be happier with what we said. And also, his superpower has been building high-performance teams, building a great leadership team. So we're in an incredibly good situation in terms of engineering broadly.

是的。史蒂夫，是邁克。我可以拿那個。看，在過去的 6 年裡，Sri 顯然是絕對出色的技術領導者。他把我們帶到了雲端，然後繼續構建一個真正世界級的雲平台，所以我們對我們所說的非常滿意。而且，他的超級大國一直在建立高績效團隊，建立一個偉大的領導團隊。所以我們在廣泛的工程方面處於非常好的情況。

Obviously, we'll be very sad to lose him as he moves on to another phase in his life, which is understandable, but we will have no doubt we'll be able to find more talent internally and externally. We're in an incredibly good position. We've, over the long term, had a clear philosophy on culture and building a sustainable company, and a part of that is about leadership transition and continuing to move forward in all of our departments. And I feel incredibly confident about where we are in our technology and engineering functions.

顯然，隨著他進入人生的另一個階段，我們會很難過失去他，這是可以理解的，但毫無疑問，我們將能夠在內部和外部找到更多的人才。我們處於一個非常好的位置。從長遠來看，我們對文化和建立可持續發展的公司有著明確的理念，其中一部分是關於領導層的過渡和在我們所有部門的繼續前進。我對我們在技術和工程職能方面所處的位置充滿信心。

Your next question comes from the line of Keith Bachman with Bank of Montreal.

您的下一個問題來自蒙特利爾銀行的 Keith Bachman。

James, I wanted to put this one to you, if I could. You announced pricing changes that would be effective on February 15 for data center and server. And I wonder if you could characterize what you think the impact has been or will be prior to the 15th for those pricing changes, see some pull-in of demand and/or any characterization of post for those 2 particular areas of data center and server.

詹姆斯，如果可以的話，我想把這個送給你。你們宣布了將於 2 月 15 日對數據中心和服務器生效的定價變更。而且我想知道您是否可以描述您認為在 15 日之前對這些定價變化的影響已經或將要產生的影響，查看數據中心和服務器這兩個特定領域的一些需求拉動和/或任何帖子特徵.

Yes. Sure, Keith. At the end of the day, it is obviously the customer that makes the decision as to whether or not they're going to early renew, add to their investment with Atlassian ahead of these price changes. So we really can't predict, given the volume of customers that potentially have this offer available to them.

是的。當然，基思。歸根結底，顯然是客戶決定他們是否要提前續訂，在這些價格變化之前增加他們對 Atlassian 的投資。所以我們真的無法預測，考慮到有可能獲得此優惠的客戶數量。

So when you look at the price changes themselves that we announced a few weeks back, they vary by product, by user tier, which is very normal for us. I would generally think of those as approximately mid-teens percent type growth in price across server and data center. And so I would expect that to begin flowing into our P&L in the fourth quarter in a more meaningful way.

因此，當您查看我們幾週前宣布的價格變化時，它們會因產品、用戶層而異，這對我們來說很正常。我通常認為這些是服務器和數據中心的價格增長大約 10% 左右。因此，我預計這將在第四季度以更有意義的方式開始流入我們的損益表。

So there may well be some event-driven customer purchasing ahead of those price increases as we saw in Q3 of the last fiscal year. But again, at the end of the day, the customer really decides. And so this is why we've been talking for some time now about a certain amount of variability in our financial model as our customers go on this journey from service cloud.

因此，正如我們在上一財年第三季度看到的那樣，在價格上漲之前，很可能會有一些事件驅動的客戶購買。但同樣，在一天結束的時候，客戶真的會做出決定。這就是為什麼我們現在一直在談論我們的財務模型在我們的客戶從服務雲開始這一旅程時存在一定程度的可變性的原因。

The next question comes from the line of Fatima Boolani with Citi.

下一個問題來自花旗的 Fatima Boolani。

James, the question is for you with respect to the concurrent acceleration that we've seen in the cloud and data center business. Now I was hoping you could put into context how both those businesses can sort of enjoy this degree of concurrent acceleration, especially considering you had mentioned about 1/3 of the cloud performance being attributable to data center migration. So I'm just curious as to, if you can walk through some of the dynamics there. And if you can also give us a frame of reference for how much of that cloud performance in the prior quarters, how much of that was driven by migrations from data center, just so we have a frame of context.

詹姆斯，問題是關於我們在雲和數據中心業務中看到的並發加速問題。現在，我希望您能具體說明這兩家企業如何能夠享受這種程度的並發加速，特別是考慮到您提到大約 1/3 的雲性能歸因於數據中心遷移。所以我很好奇，如果你能了解那裡的一些動態。如果您還可以為我們提供一個參考框架，說明前幾個季度的雲性能有多少，其中有多少是由數據中心的遷移驅動的，這樣我們就有了一個背景框架。

Sure. I have to take that one. Let's start with migrations. I mentioned a little earlier that what we would expect and in fact, what we saw in Q2 was about a mid- to high single-digit impact on our subscription revenue growth from migrations. Now important, though, to note that when we think about cloud migrations, then about 1/3 of that activity is coming from data center. So again, put in context. When you think about the growth rate of the businesses that we're recording, both cloud and data center, migrations are important but relatively small part of the overall picture.

當然。我得拿那個。讓我們從遷移開始。我之前提到過我們的預期，事實上，我們在第二季度看到的是遷移對我們的訂閱收入增長產生中高個位數的影響。不過，現在重要的是要注意，當我們考慮雲遷移時，大約 1/3 的活動來自數據中心。再說一遍，放在上下文中。當您考慮我們正在記錄的業務（包括雲和數據中心）的增長率時，遷移很重要，但在整體情況中相對較小。

So let's take a step back and really think about what are the key drivers for the cloud. And I'd really point to a handful of items beyond migrations. First of all, I think most importantly, we continue to do an excellent job of expanding our user counts at our current cloud customers. You saw also in the data, we brought 10,000 new customers to the company. They're all effectively going to cloud. We talked about the percentage. And once they're at the cloud, we're doing a very nice job of expanding user count.

因此，讓我們退後一步，真正思考一下云計算的關鍵驅動因素是什麼。我真的會指出遷移之外的一些項目。首先，我認為最重要的是，我們繼續在擴大當前云客戶的用戶數量方面做得很好。您還從數據中看到，我們為公司帶來了 10,000 名新客戶。他們都在有效地走向雲端。我們談到了百分比。一旦他們在雲端，我們在擴大用戶數量方面做得非常好。

The second thing I'd really also highlight, the growing impact that we're making with our customers on premium and enterprise editions. This really goes to our overall editions strategy that starts with free, standard, then premium, then enterprise. And we've really got those 4 editions now pretty much right across our portfolio, a broad portfolio of products. And I think that's a tremendously important driver. We're seeing customers really get incremental value as they step up that ladder, if you will, of editions.

我還要強調的第二件事是，我們與客戶對高級版和企業版的影響越來越大。這確實符合我們從免費、標準、高級和企業開始的整體版本策略。我們現在真的在我們的產品組合中擁有這 4 個版本，這是一個廣泛的產品組合。我認為這是一個非常重要的驅動因素。我們看到客戶在升級版本的階梯時確實獲得了增量價值，如果你願意的話。

And then we've spoken now for several quarters about how pleased we've been at the relatively low churn levels and how we've really put effort into minimizing that type of activity. So that's working nicely. And of course, you saw us roll out a mid-single-digit pricing increase a few months ago now. And so that relatively quickly layers into the P&L when you think that the majority of our customers are on a monthly subscription. So those are really the important drivers that are driving the cloud business. Yes, migrations are a part of the story, but certainly I wanted to put that in context.

然後我們已經談了幾個季度了，我們在相對較低的客戶流失水平上感到多麼高興，以及我們如何真正努力減少這種類型的活動。所以效果很好。當然，您看到我們幾個月前推出了中個位數的價格上漲。因此，當您認為我們的大多數客戶都在按月訂閱時，相對較快地進入損益表。因此，這些確實是推動雲業務的重要驅動力。是的，遷移是故事的一部分，但我當然想把它放在上下文中。

The next question comes from the line of James Fish with Piper Sandler.

下一個問題來自 James Fish 和 Piper Sandler 的台詞。

This is Quinton, on for Jim. Customer additions this quarter were really strong again. Is this kind of 10,000 net adds the right level moving forward or do we move back to more fiscal '20, fiscal '21 levels? And then just as a quick follow-up, what inning would you say that the education of channel partners is at with selling to cloud products? Are we at the bottom of the ninth inning with 1 or 2 legacy partners to go or is there a significant education left within the channel?

這是昆頓，為吉姆而戰。本季度新增的客戶再次非常強勁。這種 10,000 的淨增加是正確的水平，還是我們回到更多的 20 財年、21 財年的水平？然後，作為一個快速跟進，您認為渠道合作夥伴的教育在向雲產品銷售方面處於什麼階段？我們是否處於第九局的底部，有 1 或 2 個傳統合作夥伴要走，或者頻道內是否還有重要的教育？

Cameron, do you want to start off with that one?

Cameron，你想從那個開始嗎？

Sure. Yes, as far as the -- I can speak to both the new customer numbers as well as the innings of the channel partners. As far as the new customers, like I have to call out just how incredible this machine that we built in go-to-market that we can routinely get 10,000-plus net new customers in the business while maintaining our efficient go-to-market spend.

當然。是的，就 - 我可以與新客戶數量以及渠道合作夥伴的局交談。至於新客戶，我不得不說我們在進入市場時製造的這台機器是多麼令人難以置信，我們可以在保持我們高效的進入市場的同時，經常在業務中獲得 10,000 多個淨新客戶花費。

But in addition to that, I got to, call it, 2 years ago, we made that change to the free model. So in addition to 10,000 paying customers coming in with more than 2 users, we also have thousands of more teams and companies choosing us and using us in market for free. And that just shows like how much demand there is and why people are choosing us.

但除此之外，我不得不說，2 年前，我們對免費模型進行了更改。因此，除了 10,000 名超過 2 名用戶的付費客戶外，我們還有成千上萬的團隊和公司選擇我們並在市場上免費使用我們。這只是表明有多少需求以及人們選擇我們的原因。

As far as the number itself, like it fluctuates quarter-to-quarter for a variety of reasons: changes in the funnel, seasonality, you name it. So let's be focused on the individual quarter numbers and look at the longer-term trend. We've added over 51,000 customers over the last 12 months, which when I started with this company like many years ago, was we had a fraction of that of our overall customer base. So we've just been able to continue to evolve and make that efficient go-to-market model work.

就數字本身而言，由於各種原因，它每季度都在波動：漏斗的變化、季節性等等。因此，讓我們關注各個季度的數字，看看長期趨勢。在過去的 12 個月中，我們增加了 51,000 多名客戶，當我像多年前一樣在這家公司開始工作時，我們的客戶群只佔整體客戶群的一小部分。因此，我們剛剛能夠繼續發展並使這種高效的上市模式發揮作用。

As far as innings, being an Australian company, most of our Aussie friends don't understand what innings means. I'd hate to say which inning they're in. The reality is we continue to train, certify, partner with and engage our partners in these migrations. It's a multiyear journey. Some of the partners are well ahead and leading on migrations. Many of the other partners are going through these trainings and bringing people in. So plenty more to do there, but I'll tell you that they are critical to our migration story and our execution there. James?

至於局，作為一家澳大利亞公司，我們大多數澳大利亞朋友都不明白局是什麼意思。我不想說他們在哪一局。現實是我們繼續在這些遷移中培訓、認證、合作和參與我們的合作夥伴。這是一個多年的旅程。一些合作夥伴在遷移方面遙遙領先並處於領先地位。許多其他合作夥伴正在接受這些培訓並引進人員。還有很多工作要做，但我會告訴你，他們對我們的遷移故事和我們在那裡的執行至關重要。詹姆士？

No, I think you covered that. Thank you.

不，我想你已經涵蓋了。謝謝你。

The next question comes from the line of Arjun Bhatia with William Blair.

下一個問題來自 Arjun Bhatia 和 William Blair。

Congrats on the quarter. Certainly, in the shareholder letter, it seemed like hiring was a key area of focus. And I think you stated that building new products in the R&D would be a priority as you scale your developer talent. I'm curious if you can share any particular areas of focus that you have out in the market from a product perspective that maybe is not addressed by the product portfolio today.

祝賀本季度。當然，在股東信中，招聘似乎是重點關注的領域。而且我認為您說過，隨著您擴展開發人員的人才，在研發中構建新產品將是一個優先事項。我很好奇您是否可以從產品的角度分享您在市場上的任何特定關注領域，而這些領域可能今天的產品組合沒有解決。

I could take that. Look, if you -- with the 3 markets that we're operating in, we were lucky to operate in markets that are very, very large, and we have different levels of maturity in each of those markets. And underpinning our ability to go after these markets is the Atlassian platform that we spent over a decade building out. And so when I look at the investments we're making, like you'd have to say they're in the areas of the 3 different markets we talked about.

我可以接受。看，如果你——在我們經營的三個市場中，我們很幸運能夠在非常非常大的市場中經營，並且我們在每個市場都有不同的成熟度。支撐我們開拓這些市場的能力是我們花費了十多年時間打造的 Atlassian 平台。因此，當我查看我們正在進行的投資時，就像您不得不說它們位於我們談到的 3 個不同市場的領域一樣。

There's the investments required to help our customers make those migrations across the cloud and continued investments in the platform that we're -- that we've built out over those years and continue to build out. The benefits you're seeing come through, obviously, in migration numbers, but there are also benefits in our ability to launch new products, as you've seen with Point A, that we can bring and launch new products to the market pretty quickly.

有必要的投資來幫助我們的客戶在雲中進行這些遷移，以及對我們現有的平台的持續投資——這些年來我們已經建立並繼續建立這些平台。您看到的好處顯然來自遷移數量，但我們推出新產品的能力也有好處，正如您在 A 點看到的那樣，我們可以很快將新產品推向市場並推出.

And so I wouldn't say there being huge changes in that, like I think as the platform continues to mature, we'll be able to bring more functionality to the market quicker. The ability for us to be, as I've mentioned earlier, ability across work across dev and IT is, I guess, it's a bit like chips and guacamole, right, they go hand in hand. And so that's like a unique ability that we have to do that.

所以我不會說這會發生巨大的變化，就像我認為隨著平台的不斷成熟，我們將能夠更快地將更多功能推向市場。正如我之前提到的，我們的能力是跨開發人員和 IT 工作的能力，我想，這有點像薯條和鱷梨醬，對，它們齊頭並進。所以這就像我們必須這樣做的獨特能力。

And of course, Work Management for all built on a great platform for work, really unifies work across the entire organization, again, I think that we're uniquely positioned to do. So Mike, do you have anything to?

當然，所有人的工作管理都建立在一個偉大的工作平台上，真正統一了整個組織的工作，我認為我們具有獨特的優勢。那麼邁克，你有什麼要說的嗎？

Yes. I mean I just wanted -- the question started in hiring, I guess, and ended in markets, so I'm not sure which angle you were trying to go on. I think Scott's point about the platform is really key. Our platform, we believe, is one of our strengths in executing against the large opportunities that we believe we have in all of our markets and around the business and in the U.S. economy.

是的。我的意思是我只是想 - 我猜這個問題從招聘開始，到市場結束，所以我不確定你試圖從哪個角度繼續。我認為 Scott 關於平台的觀點非常關鍵。我們相信，我們的平台是我們在執行我們認為我們在所有市場、業務和美國經濟中擁有的巨大機遇方面的優勢之一。

Building that platform takes a world-class engineering team and a world-class engineering team at very large scale. So you see us making continued improvements and things like TEAM Anywhere and our culture and pressing our long-term thinking as a business and also executing against those opportunities, right? And being clear that we are going to invest and we believe in those opportunities.

建立這個平台需要一個世界級的工程團隊和一個非常大規模的世界級工程團隊。所以你看到我們不斷改進，比如 TEAM Anywhere 和我們的文化，推動我們作為一家企業的長期思考，並利用這些機會執行，對嗎？並且很清楚我們將進行投資並且我們相信這些機會。

At the core of that platform is a truly world-class engineering organization. So if it's about where are we hiring, look, we have a deep long-term belief that building a world-class technology company without engineering and R&D at the core is, to steal Scott's analogy is a little like making guacamole without putting avocados at the core. It just doesn't work. And you'll see that from some other companies, but we have a deep belief in engineering and R&D at the core of executing against the huge opportunities that we have in front of us. And so that's why I will try to tie those 2 together in the question.

該平台的核心是一個真正的世界級工程組織。所以如果是關於我們在哪裡招聘，看，我們有一個深刻的長期信念，即建立一家沒有工程和研發核心的世界級科技公司，用斯科特的比喻有點像在不放鱷梨的情況下製作鱷梨醬核心。它只是行不通。你會從其他一些公司看到這一點，但我們堅信工程和研發是執行我們面前巨大機遇的核心。這就是為什麼我會嘗試在問題中將這兩個聯繫在一起。

Your next question comes from the line of Ittai Kidron with Oppenheimer.

你的下一個問題來自奧本海默的 Ittai Kidron。

Great numbers. I have a couple of questions, one on work management. You haven't talked much about that. Maybe you can give us a little bit more color on the progress there. Maybe number of customers. You mentioned that on Service Management, maybe that you can mention that on Work Management. And then the second question, more of a general one regarding the customers that have transitioned to the cloud. Can you talk about the -- how the expansion of activity of customers that migrate to the cloud is different than expansion activity of customers who remain on-premise?

偉大的數字。我有幾個問題，一個是關於工作管理的。你還沒有談太多。也許你可以給我們更多關於那裡的進展的顏色。也許是客戶數量。您在服務管理中提到了這一點，也許您可以在工作管理中提到這一點。然後是第二個問題，更多的是關於已過渡到雲的客戶的一般問題。您能否談談 - 遷移到雲的客戶的活動擴展與保留在本地的客戶的擴展活動有何不同？

Look, I can take both of those. Firstly, on Work Management for all, the first thing I would say is the fact that we get this deep into the call when we talk about our huge opportunities in IT, we haven't mentioned agile DevOps and software teams or Work Management. I think that's an example of just the size and scale that Atlassian operates at now and the set of opportunities we have. We could spend an hour-plus talking about any of that (inaudible).

看，這兩個我都可以。首先，關於所有人的工作管理，我要說的第一件事是，當我們談論我們在 IT 領域的巨大機遇時，我們深入到了電話中，我們沒有提到敏捷 DevOps 和軟件團隊或工作管理。我認為這是 Atlassian 目前運營的規模和規模以及我們擁有的一系列機會的一個例子。我們可以花一個多小時談論這些（聽不清）。

I would say we continue to be incredibly bullish on the Work Management space. We're doing an incredibly good job with Trello and continuing to make that part of our platform, part of our set of offerings whilst having a stand-alone flavor to it. Jira Work Management continues to power along. It's very new out of our Point A program of innovation, but adding a different flavor on project management. And we're incredibly bullish on things like Team Central and other things coming out of Point A as well at the same time.

我想說我們繼續非常看好工作管理領域。我們在 Trello 方面做得非常好，並繼續將其作為我們平台的一部分，作為我們產品系列的一部分，同時具有獨立的風格。 Jira Work Management 繼續發揮作用。這是我們的 A 點創新計劃中非常新的東西，但在項目管理上增添了不同的風味。我們非常看好 Team Central 以及同時來自 A 點的其他東西。

So I feel very comfortable with where we stand. We believe there will be lots of different ways of attacking the broad Work Management problem, and that's all before we even mentioned something like Confluence. So really excited about how that happens and how that continues to evolve. I will say we talk a lot about digital transformation, changing software teams and IT teams. A big part of that is also a cultural transformation and how the software and IT teams work with the rest of the business.

所以我對我們的立場感到很自在。我們相信會有很多不同的方法來解決廣泛的工作管理問題，而這一切都在我們提到像 Confluence 這樣的東西之前。對這種情況如何發生以及如何繼續發展感到非常興奮。我會說我們談論了很多關於數字化轉型、改變軟件團隊和 IT 團隊的話題。其中很大一部分也是文化轉型以及軟件和 IT 團隊如何與業務的其他部分合作。

So yes, we have 3 different markets. We believe in all of them very deeply. They are tied together at the core of how every company is changing as a software and technology base, but also changing culturally to be more dynamic and more agile. And that's why we're in these 3 markets.

所以是的，我們有 3 個不同的市場。我們非常相信他們所有人。它們在每家公司如何作為軟件和技術基礎發生變化的核心聯繫在一起，同時也在文化上發生變化以變得更有活力和更敏捷。這就是我們進入這三個市場的原因。

In terms of cloud expansion, it's a pretty simple story, actually. The ease of adopting a second product in the cloud, our ability to understand what customers are using and hence, recommend other alternatives for them, either you should get more people on your team on board or you should try this other product is we can just do it a lot faster and easier, right? But it's a single click in the cloud, nothing to install, nothing to try. With free, you can quickly get 10 users started. So our ability to help customers expand is just much higher in the cloud, and you see that in greater and quicker expansion numbers of customers. We have to have the products to deliver that value, but our ability to help customers and guide them, less friction in the cloud is just higher.

在雲擴展方面，實際上這是一個非常簡單的故事。在雲中採用第二個產品的便利性，我們了解客戶正在使用什麼的能力，因此，為他們推薦其他替代品，或者你應該讓更多的人加入你的團隊，或者你應該嘗試這個其他產品，我們可以做起來更快更容易，對吧？但它只是在雲端單擊，無需安裝，無需嘗試。使用免費，您可以快速讓 10 個用戶開始使用。因此，我們幫助客戶擴展的能力在雲中要高得多，您會在更多和更快的客戶擴展數量中看到這一點。我們必須擁有能夠提供這種價值的產品，但我們幫助客戶和引導他們的能力，雲中的摩擦越少越好。

Our next question comes from the line of Rob Oliver with Baird.

我們的下一個問題來自貝爾德的 Rob Oliver。

James, you alluded to this earlier in your remarks, and Scott and Mike, I'd love to hear your view, but you guys continue to knock down a lot of the global compliance standards that are out there, that really are, I assume, are inhibitors to any large enterprises and governments really going wholesale into the cloud. So I'd love to hear a little bit about some of what you've seen in terms of as you knock those down, how that backlog has been converting. And then maybe some of the other global standards out there that you're excited about that you guys hinted in the letter that there's more to come imminently. Appreciate it.

詹姆斯，你在前面的發言中提到了這一點，斯科特和邁克，我很想听聽你的觀點，但你們繼續推翻許多現有的全球合規標準，我認為這些標準確實是，是真正大規模進入雲的任何大型企業和政府的抑製劑。因此，我很想听聽一些關於你在擊倒這些方面所看到的內容，以及這些積壓工作是如何轉換的。然後也許還有一些其他的全球標準，你們對此感到興奮，你們在信中暗示即將推出更多標準。欣賞它。

Look, for sure, it's part of our continued momentum, right? One of the -- I hope you've all seen over time, Atlassian has just continued momentum and improvement -- incremental improvement every single quarter. It's something we've done for just shy of 20 years now and we'll continue to do it.

看，可以肯定的是，這是我們持續發展勢頭的一部分，對吧？其中之一——我希望你們都已經看到，Atlassian 剛剛持續發展勢頭和改進——每個季度都在逐步改進。這是我們近 20 年來所做的事情，我們將繼續這樣做。

The area you've asked about in terms of cloud standards and compliance and governance and the whole sort of equity soup that comes with that in every different geography in the world, we do believe that, that will continue to be a challenge for every SaaS company going forward as there are more companies, more geographies, more legal conditions. And so we have to build a world-class engineering organization and a platform underneath our cloud products that allows us to quickly adapt to that market as it changes, that areas of changes and also continue to add the standards that our customers need and ask us to support.

您在雲標準、合規性和治理方面詢問的領域，以及世界上每個不同地區隨之而來的各種股權湯，我們確實相信，這將繼續成為每個 SaaS 的挑戰公司會隨著更多公司、更多地區、更多法律條件而向前發展。因此，我們必須在我們的雲產品下建立一個世界級的工程組織和一個平台，使我們能夠在市場變化時快速適應變化的領域，並繼續添加客戶需要和詢問我們的標準支持。

We've done that over time, and you continue to see us improve in that every single quarter, whether it's data residency in Australia for financial companies or whether it's BaFin in Germany. We've continued to do that and we'll continue to do that. We've seen a lot of examples of every time we add support for a different geography or standard, we unlock a portion of our customer base to move to the cloud. It's not a singular unlock. It's a whole series of ingredients, but it just increases the overall momentum of customers to the cloud.

隨著時間的推移，我們已經做到了這一點，並且您繼續看到我們在每個季度都在改進，無論是金融公司在澳大利亞的數據駐留，還是德國的 BaFin。我們一直在這樣做，我們將繼續這樣做。我們已經看到了很多例子，每次我們添加對不同地理或標準的支持時，我們都會解鎖一部分客戶群以遷移到雲端。這不是單一的解鎖。這是一整套成分，但它只是增加了客戶向雲計算的整體動力。

But for sure, we continue to work on performance and scale for the larger customers in the cloud. We continue to work on compliance and regulations and standards. And we also continue to work on extensibility, which is equally important. The reason I mentioned that last one is forge our sort of future extensibility standard and technical framework, build things like these compliance and regulatory standards at the core, which is incredibly difficult to do, but we believe an extensibility for our customers going forward. It's going to be a whole market at Atlassian, and I think in a high compliance environment, that's going to be incredibly important for us going forward in the cloud. And we're seeing that in the adoption of Forge via those enterprise customers in the cloud where it handles the regulatory standards for them.

但可以肯定的是，我們會繼續為雲中的大客戶提高性能和規模。我們將繼續致力於合規性、法規和標準。我們還繼續致力於可擴展性，這同樣重要。我提到最後一個的原因是建立我們未來的可擴展性標準和技術框架，在核心構建這些合規性和監管標準之類的東西，這很難做到，但我們相信未來的客戶可擴展性。在 Atlassian，這將是一個完整的市場，我認為在高度合規的環境中，這對於我們在雲中的發展至關重要。我們看到，通過雲中的企業客戶採用 Forge，它為他們處理監管標準。

The next question comes from the line of DJ Hynes with Canaccord.

下一個問題來自 DJ Hynes 和 Canaccord 的台詞。

Congrats on the continued success here. I have a product question for Mike or Scott, I presume. So there are a handful of visual collaboration tools in the market that are seeing really strong growth. I know you guys recently invested in MURAL. What is it about visual collaboration that makes it hard for you to replicate? Like why invest or partner in that space versus doing it on your own?

恭喜這裡繼續取得成功。我想我有一個關於 Mike 或 Scott 的產品問題。因此，市場上有少數可視化協作工具正在實現強勁增長。我知道你們最近投資了 MURAL。視覺協作是什麼讓您難以復制？比如為什麼要在那個領域投資或合作，而不是自己做？

Yes. I can take that, DJ. Look, we've long believed in having a broad spectrum of opportunities in that. With Atlassian Ventures, we are trying to make sure that we are investing and partnering in high-quality enterprise SaaS companies that are partners of Atlassian. You've seen us do that in the past with Zoom and Slack and others, and more recently, with MURAL and Snyk across our markets as well as a whole host of smaller up-and-coming names.

是的。我可以接受，DJ。看，我們一直相信在這方面有廣泛的機會。通過 Atlassian Ventures，我們正在努力確保我們正在投資並與作為 Atlassian 合作夥伴的優質企業 SaaS 公司合作。您已經看到我們過去與 Zoom 和 Slack 以及其他公司合作，以及最近在我們的市場上與 MURAL 和 Snyk 以及一大堆較小的新興品牌合作。

Visual collaboration in general, look, it's a very busy category, I would say, because it's such a broad option. It used to be called whiteboards, but it's not really a whiteboard. It's a whole series of different things that you can do there. It's a bit like saying there's 1 way to do project management. If you're a 5-person marketing team, you do project management utterly differently than if you're 5,000 engineers building a bridge. So project management is a very broad term.

總的來說，視覺協作，看，這是一個非常繁忙的類別，我想說，因為它是一個如此廣泛的選擇。它曾經被稱為白板，但它並不是真正的白板。你可以在那裡做一系列不同的事情。這有點像說有一種方法可以進行項目管理。如果你是一個 5 人的營銷團隊，那麼你的項目管理與 5000 名工程師建造一座橋樑的情況完全不同。所以項目管理是一個非常廣泛的術語。

I would say the same thing for visual collaboration. It's a broad term. I think there'll be a lot of fantastic products in there. And obviously, we believe in the ones that we use and the ones that we've invested in. But in general, our customer philosophy is being partnered and integrated with all of the best-of-breed SaaS products that are out there and allowing our customers to make those choices and just making sure that all the data they have in any Atlassian product is easily connected and integrated with all the data they have in any other product.

對於視覺協作，我也會說同樣的話。這是一個廣義的術語。我認為那裡會有很多很棒的產品。顯然，我們相信我們使用的產品和投資的產品。但總的來說，我們的客戶理念正在與所有同類最佳的 SaaS 產品合作並集成，並允許我們的客戶做出這些選擇，並確保他們在任何 Atlassian 產品中擁有的所有數據都可以輕鬆地與他們在任何其他產品中擁有的所有數據連接和集成。

Your next question comes from the line of Brent Thill with Jefferies.

您的下一個問題來自 Jefferies 的 Brent Thill。

On Trello, you've been pretty clear, over 50 million on the platform, yet I think monetization is still low. Can you walk through how you expect to potentially change that over the next year or maybe not? And for James, Americas, at least in our model, look like the best quarter in 13 quarters. I know that the comp was a little easier, but anything stand out there in Americas that perhaps you haven't seen in past quarters?

在 Trello 上，你已經很清楚了，平台上有超過 5000 萬，但我認為貨幣化仍然很低。您能否介紹一下您期望在明年或可能不會改變這種情況的方式？對於詹姆斯來說，美洲，至少在我們的模型中，看起來是 13 個季度中最好的一個季度。我知道比賽要容易一些，但是在美洲有什麼突出的地方，也許你在過去幾個季度沒有見過？

Brent, I can take the first part on Trello monetization. I'm sorry I don't have much new news for you but I can repeat our stance here. I mean, Trello, we focus first on continuing to grow the monster [it is], the size of Trello, going after the Fortune 500,000. We think about very, very large scale, and there's 1 billion knowledge workers out there trying to do all sorts of different things that Trello is very, very useful for.

Brent，我可以參與 Trello 貨幣化的第一部分。很抱歉，我沒有太多新消息要告訴你，但我可以在這裡重複我們的立場。我的意思是，Trello，我們首先專注於繼續發展這個怪物，Trello 的規模，追逐財富 500,000。我們考慮的規模非常非常大，有 10 億知識工作者試圖做各種不同的事情，而 Trello 非常非常有用。

You've seen us continue to improve the product with views, smart cards to integrate third-party data, as we just talked about, and a whole series of continued product improvements. That said, we've gotten better at monetizing Trello almost every year that we've had it on the platform and continue to do so. But I will say that we put usage before monetization when it comes to Trello.

您已經看到我們繼續改進產品，如我們剛才談到的視圖、集成第三方數據的智能卡，以及一系列持續的產品改進。也就是說，我們幾乎每年都在通過 Trello 獲利方面做得更好，因為我們已經在平台上擁有它並繼續這樣做。但我會說，當談到 Trello 時，我們將使用放在貨幣化之前。

You see it getting closer to the Atlassian platform in various different ways in terms of Atlassian account and identity and all sorts of different things. So we're very patient in doing those things correctly and continue to make Trello a huge product that's beloved by its users and we put that first. But it's a pretty nice business for us and we continue to investment. James, I'll leave you the second.

您會看到它在 Atlassian 帳戶和身份以及各種不同的方面以各種不同的方式越來越接近 Atlassian 平台。因此，我們非常耐心地正確地做這些事情，並繼續使 Trello 成為深受用戶喜愛的巨大產品，我們把它放在首位。但這對我們來說是一項相當不錯的業務，我們會繼續投資。詹姆斯，我會留給你第二個。

Yes, just to follow up on that. One of the things we've done around Trello's pricing has been to recently bring in a standard edition. And again, this is an example. We've talked about price increases at different points on this call. So it's a good example of where there are many indications where we actually lower price, again, to stimulate the sort of demand that Mike is referring to that.

是的，只是為了跟進。我們圍繞 Trello 的定價所做的一件事就是最近推出了標準版。同樣，這是一個例子。我們在這次電話會議上討論了不同時間點的價格上漲。所以這是一個很好的例子，說明有很多跡象表明我們實際上會降低價格，再次刺激邁克所指的那種需求。

In terms of the Americas result, yes, it was a strong year-over-year growth rate for the Americas. I'd just point back to one of my earlier comments about, obviously, data center had very strong growth in the quarter. And we do have this portion of the customer commitment that is taken upfront in terms of rev rec in the quarter in which the customer signs with us. And of course, the U.S., the Americas, but particularly the U.S. is home to a good number of our largest customers. So there's a certain amount of timing effect there that made for a very strong Americas year-over-year growth rate.

就美洲的結果而言，是的，這是美洲強勁的同比增長率。我只想回到我之前的評論之一，顯然，數據中心在本季度有非常強勁的增長。我們確實有這部分客戶承諾，在客戶與我們簽約的那個季度，就rev rec 而言，這是預先採取的。當然，美國、美洲，尤其是美國是我們最大客戶的所在地。因此，那裡存在一定的時間效應，導緻美洲的同比增長率非常強勁。

And the next question comes from the line of Gregg Moskowitz of Mizuho.

下一個問題來自瑞穗的 Gregg Moskowitz。

I remember when you launched Atlassian Marketplace, that was less than a decade ago, and here we are, a $2 billion in lifetime sales, that's incredible. My question here is, with cloud now comprising nearly half of the apps in the Marketplace and with take rates continuing to be counted as an additional incentive, are we sort of at a pivoting point? In other words, are we at a phase where you're seeing app development and app usage really accelerate?

我記得當您在不到十年前推出 Atlassian Marketplace 時，我們的終生銷售額達到了 20 億美元，這太不可思議了。我的問題是，雲現在佔市場中近一半的應用程序，並且採用率繼續被視為額外的激勵措施，我們是否處於一個轉折點？換句話說，我們是否處於您看到應用程序開發和應用程序使用真正加速的階段？

Yes, Scott here. Look, we're really proud of the Marketplace. I remember the plane ride where Mike wrote the original code that went into the Marketplace and got us off the ground. And for us to get from there to $2 billion in lifetime sales is amazing. And more importantly, that's $1.5 billion of money that's going back into the ecosystem, right? And we've got such a strong and powerful ecosystem around Atlassian. And we've long, for over a decade, had goals around the ecosystem outside of Atlassian to be way larger than Atlassian itself, both in terms of a number of people working on it and the revenue there.

是的，斯科特在這裡。看，我們真的為 Marketplace 感到自豪。我記得邁克在飛機上編寫了進入市場的原始代碼並讓我們離開了地面。對我們來說，從那裡獲得 20 億美元的終生銷售額是驚人的。更重要的是，這是 15 億美元的資金將重新回到生態系統，對嗎？我們在 Atlassian 周圍擁有如此強大而強大的生態系統。十多年來，我們一直在圍繞 Atlassian 之外的生態系統制定目標，使其遠大於 Atlassian 本身，無論是在工作人員數量還是在那裡的收入方面。

And so we're really, really proud about kind of the jobs and everything we've been created around Atlassian and how we benefit all of its benefits from that. In terms of like the cloud and tipping point, obviously, Forge, our app development platform in cloud, takes care of a lot of things that developers used to have to do themselves, such as running their own servers and now we take care of that for you. So that has lowered the barrier to entry for new people to build functionality inside our applications.

因此，我們對圍繞 Atlassian 創造的各種工作和一切以及我們如何從中受益感到非常自豪。就雲和引爆點而言，很明顯，我們在雲中的應用程序開發平台 Forge 處理了很多開發人員過去必須自己做的事情，例如運行自己的服務器，現在我們會處理這些事情為你。因此，這降低了新人在我們的應用程序中構建功能的進入門檻。

And as we've seen kind of in our server-based applications, all of the early adopters of these new technologies are people using internally inside their own companies to integrate with different processes, to automate things themselves, to build extra functionality that is unique to that particular company. And that often then leads to people starting their own business, using those things and making it more generic or those things flow through our existing Marketplace partners who are building out on the Forge capabilities.

正如我們在基於服務器的應用程序中所看到的那樣，這些新技術的所有早期採用者都是在自己公司內部使用的人，用於與不同的流程集成，使事情本身自動化，構建獨特的額外功能到那個特定的公司。這通常會導致人們開始自己的業務，使用這些東西並使其更通用，或者這些東西流經我們現有的市場合作夥伴，這些合作夥伴正在構建 Forge 功能。

So I think like longer term, you're seeing pressure on Marketplace take rates across kind of -- particularly on the consumer side of things, there's been downward pressure on that. And we get to play that out over the long term. I would say that -- the take rate, there will be more pressure on the take rates than they have been historically, but that's also going to lead to a much, much, much larger ecosystem built around Atlassian like. And we're experimenting and seeing beyond our traditional partners how we can partner with people like that we've made investments into Atlassian Ventures.

因此，我認為從長期來看，您會看到 Marketplace 承受各種壓力——尤其是在消費者方面，這方面存在下行壓力。我們可以長期發揮作用。我想說的是——在獲取率上，獲取率將比歷史上承受更大的壓力，但這也將導致圍繞 Atlassian 構建的一個非常、非常、更大的生態系統。我們正在嘗試並超越我們的傳統合作夥伴，看看我們如何與像我們這樣的人合作，我們已經投資了 Atlassian Ventures。

And overall, like the number we focus on is not really our take rate. Like that's nice, but the number we focus on internally is our sort of GMV or effectively, how much money is running through the Marketplace like to our third parties, and that's a number we optimize for internally.

總的來說，就像我們關注的數字並不是我們真正的接受率。那樣很好，但我們內部關注的數字是我們的 GMV 或有效地，有多少資金通過市場運行，就像我們的第三方一樣，這是我們在內部優化的數字。

And our last question comes from the line of Steve Koenig with SMBC Nikko.

我們的最後一個問題來自 SMBC Nikko 的 Steve Koenig。

Most of my questions have been asked, but -- and actually, let me also congratulate you on the quarter also on the very low employee turnover metrics that we're seeing from LinkedIn, especially in sales. I just think it's remarkable. I guess what I'll ask about maybe a little bit in the weeds, but the price increase is happening on February 15. You talked a little bit about the impact it could have on the coming quarter. What kind of customer behavior could we expect in the subsequent 4 quarters with respect to like those customers that maybe have renewed early to take advantage of locking in the price? And then would they be looking to convert to cloud within the next 4 quarters? Will there be a greater incentive to convert to cloud? Kind of how do we think about that?

我的大部分問題都被問到了，但是——實際上，讓我也祝賀你在本季度我們從 LinkedIn 看到的非常低的員工流動率指標，特別是在銷售方面。我只是覺得這很了不起。我想我可能會問一些關於雜草的問題，但價格上漲發生在 2 月 15 日。你談到了它可能對下一季度產生的影響。對於那些可能已經提前續約以利用鎖定價格的客戶，我們可以在接下來的 4 個季度中期待什麼樣的客戶行為？然後他們會在接下來的 4 個季度內尋求轉換為雲嗎？是否會有更大的動力轉向雲？我們是怎麼想的？

And I guess the larger question here really is as we kind of puzzle over your trajectories here, we talked a bit about data center and the drivers there, we talked qualitatively about the drivers in cloud. But we're seeing cloud continue to accelerate here. And just kind of how do we think about that even if it's qualitative. So that's all and congratulations.

我想這裡更大的問題確實是因為我們在這裡對您的軌跡感到困惑，我們談到了數據中心和那裡的驅動程序，我們定性地討論了雲中的驅動程序。但我們看到雲在這裡繼續加速。即使是定性的，我們也是如何考慮的。就是這樣，恭喜你。

Yes. This is Cameron here. So 2 pieces on this. So every time we do some price changes, obviously, customers have the ability to make a choice. And I was actually just on a call with an executive of a very large pharmaceutical company just this week, largely talk about his options going forward, which is, one, you can renew, that's fine. I think that's an option going forward. Renew your data center licenses as we continue to plan for cloud.

是的。這是卡梅倫。所以2件。所以每次我們做一些價格變動，很明顯，客戶是有能力做出選擇的。實際上，就在本週，我剛剛與一家非常大的製藥公司的高管通了電話，主要討論了他未來的選擇，也就是說，你可以續約，這很好。我認為這是一個未來的選擇。隨著我們繼續規劃雲計算，續訂您的數據中心許可證。

The second is we can start planning out a few small cloud projects, maybe for some teams, or we can go all in on cloud and get it all done with. It all comes down to what's your prioritization and what your company's readiness. After a 30-minute conversation, he basically said, "Give me the all non-cloud option. Like this is fine. We have a cloud mandate. We need to prioritize the work. Let's just get it done now." The reality is that's how we -- but we prefer that optimality for our customers. We're not forcing them down any path. It's what's going to work for them and their projects and the value that we can deliver.

第二個是我們可以開始計劃一些小的雲項目，也許是針對一些團隊，或者我們可以全力以赴並完成所有工作。這一切都取決於您的優先事項和公司的準備情況。經過 30 分鐘的交談後，他基本上說，“給我所有非雲選項。這樣很好。我們有云任務。我們需要確定工作的優先級。讓我們現在完成它。”現實情況就是我們就是這樣——但我們更喜歡為我們的客戶提供最優性。我們不會強迫他們走上任何道路。這是對他們和他們的項目有用的東西，也是我們可以提供的價值。

The second big one is even if they renew today, we have plenty of programs and practices in place that 2 months from now or 4 months from now or 6 months from now, if they want to move to cloud, we will absolutely make them right from a licensing perspective. So by no means do we hold them to 12-month cycles for these decisions. At any time, we're happy to start the migration efforts, get them cloud licenses and get their toe in the cloud.

第二個大問題是即使他們今天更新，我們有很多計劃和實踐，從現在起 2 個月或 4 個月或 6 個月後，如果他們想遷移到雲，我們絕對會讓他們正確從許可的角度來看。因此，我們絕不會讓他們以 12 個月的周期來做出這些決定。在任何時候，我們都很樂意開始遷移工作，為他們獲得云許可證並涉足雲計算。

So a lot of this comes down to largely the customer's appetite to take on the IT project that is a migration more than anything. For most of our customers, they are more than ready to go cloud. Almost all of them have cloud mandates and just comes down to timing of budgets, prioritization and IT projects.

因此，這在很大程度上歸結於客戶對 IT 項目的興趣，這比什麼都重要。對於我們的大多數客戶來說，他們已經準備好上云了。幾乎所有這些都有云任務，只是歸結為預算、優先級和 IT 項目的時間安排。

And the next question comes from the line of Pat Walravens with JMP Securities.

下一個問題來自 JMP Securities 的 Pat Walravens。

It's Joe Marincek, on for Pat. Appreciate the question. Can you just give us some more color on the Percept acquisition? And then sort of how are you thinking about M&A going forward? And then separately, what are you looking for in your next EPO?

是喬·馬林切克，替帕特上場。欣賞這個問題。你能給我們更多關於 Percept 收購的信息嗎？然後您如何看待未來的併購？然後單獨地，您在下一個 EPO 中尋找什麼？

Squeezing with 3 questions at the end there, well done. Look, let me take Percept first. Fantastic team focused on AI and smart in -- specifically in a service management and customer service manner. Again, AI and smart is relatively domain-specific to make a huge impact at the moment. And so I would see this as a part of our continual improvement in the ITSM space, both organic and inorganic, to make sure that we have the best set of ITSM tools around and also an investment in machine learning and smart as we keep putting at the core of our platform.

最後擠了3個問題，做得很好。看，讓我先拿 Percept。出色的團隊專注於人工智能和智能——特別是在服務管理和客戶服務方面。同樣，人工智能和智能是相對特定領域的，目前會產生巨大的影響。因此，我認為這是我們在 ITSM 領域不斷改進的一部分，無論是有機的還是無機的，以確保我們擁有最好的 ITSM 工具集，同時也是對機器學習和智能的投資，因為我們一直在我們平台的核心。

I always say that our customers shouldn't need to know that we care about AI and machine learning and smarts, but we bake it deeply into the platform, and this is about continuing to improve that in the area of service management and for IT teams and any service-driven enterprises out there. I can pass to Scott on M&A philosophy, if that's -- why not?

我總是說我們的客戶不需要知道我們關心人工智能、機器學習和智能，但我們將其深深融入平台，這是關於在服務管理領域和 IT 團隊繼續改進它以及任何服務驅動型企業。我可以向 Scott 介紹併購理念，如果是——為什麼不呢？

Yes. Sounds great. We're lucky as a company. We have a track record of building new products. We've got a track record of partnering in our ecosystem, which we talked about on the call and, of course, a long track record of successful M&A, both really small tuck-ins and medium-sized companies like Trello, which we brought as an extension. And so I don't see that changing in the future, like we continue to execute really well on all 3.

是的。聽起來很棒。作為一家公司，我們很幸運。我們在開發新產品方面有著良好的記錄。我們有在我們的生態系統中合作的記錄，我們在電話會議上談到了這一點，當然，還有成功併購的長期記錄，無論是真正的小型企業還是像我們帶來的 Trello 這樣的中型公司作為擴展。所以我認為未來不會發生變化，就像我們繼續在所有三個方面都表現得非常好。

When we look at which things we want to acquire over time, the number one thing we look at is our cultural and mission alignment. So are they -- do they have unlisted potential over our team, right? That's going to be the most important thing is do they align with our mission. Then, does it fit culturally with Atlassian? And then everything else after that, kind of go-to-market and technology and other things are areas we evaluate, but like first 2, the most important thing.

當我們考慮隨著時間的推移想要獲得哪些東西時，我們首先關注的是我們的文化和使命一致性。他們也是——他們對我們的團隊有未列出的潛力，對嗎？這將是最重要的事情是他們是否符合我們的使命。那麼，它在文化上是否適合 Atlassian？之後的其他一切，進入市場和技術等都是我們評估的領域，但就像前兩個一樣，最重要的事情。

And so there's been no change to our M&A philosophy over a long decade on time horizon. We'll continue to look for assets that fit really well alongside Atlassian as well as kind of small tuck-in technology acquisitions that help us where it will be quicker to acquire something than build it ourselves.

因此，在漫長的十年中，我們的併購理念在時間範圍內沒有改變。我們將繼續尋找與 Atlassian 非常契合的資產，以及能夠幫助我們獲得比自己建造更快的東西的小型技術收購。

The next question comes from the line of Derrick Wood of Cowen.

下一個問題來自 Cowen 的 Derrick Wood。

Great. James, a question for you on operating margins. You guys are targeting, I think, 17% to 18% in Q3. That's down from 26% to 27% in the first half. Can you just talk about what's driving that margin step down, where you guys are looking to step up investments and kind of where you see hitting the low watermark and margins starting to rebound?

偉大的。詹姆斯，關於營業利潤率的問題。我認為你們在第三季度的目標是 17% 到 18%。這一比例在上半年從 26% 下降到 27%。您能否談談導致利潤率下降的原因，你們希望在哪些方面加大投資，以及您認為在哪些方面觸及低水位線和利潤率開始反彈？

Yes, sure, Derrick. We very much feel as -- and we've been saying this for a while that there's such a significant opportunity in front of the company across the 3 markets that we really want to push to continue to build on the momentum that we're seeing, hiring, bringing excellent talent in wherever they are around the world. I think the TEAM Anywhere approach we have is really important in terms of differentiating our ability to attract the best talent, obviously, in a very competitive field.

是的，當然，德里克。我們非常有感覺——而且我們已經說了一段時間了，在這三個市場的公司面前有如此重要的機會，我們真的想推動繼續建立我們所看到的勢頭，招聘，將優秀的人才帶到世界各地。我認為我們擁有的 TEAM Anywhere 方法對於區分我們吸引最優秀人才的能力非常重要，顯然，在一個競爭非常激烈的領域。

And it's with those additional folks that we'll be able to get after these very significant opportunities that lie right in front of us. And so we're really enthusiastic about that. We're really positive about that opportunity. And more tactically if you think about the fact that we are increasingly becoming a cloud company quarter-by-quarter, 53% of revenue is now cloud. That will, of course, have an impact on gross margins. We've talked about that for a number of years, as we take on the work of hosting the services on behalf of our customers. And we're also going to be investing in additional support resources to help our customers meet that migration journey very much along the lines of what Cameron was just talking about with the large customer that he was talking with this week.

正是有了這些額外的人，我們才能抓住擺在我們面前的這些非常重要的機會。所以我們對此非常熱情。我們對這個機會非常樂觀。從戰術上講，如果你考慮到我們正逐步成為一家云公司這一事實，現在 53% 的收入來自云計算。當然，這將對毛利率產生影響。我們已經討論了很多年，因為我們代表我們的客戶承擔託管服務的工作。我們還將投資額外的支持資源，以幫助我們的客戶完成遷移之旅，這與 Cameron 剛剛與他本週與之交談的大客戶所談論的內容非常相似。

So those will drive some transitory impacts on the gross margin as we ramp up those support resources and do the migrations work. In terms of operating margin, that's where the significant bulk of the additional investment would be. And that in our business, as you know, really comes down to adding Atlassians. And so that's why it's really -- and we described it in the letter is our top priority.

因此，隨著我們增加這些支持資源並進行遷移工作，這些將對毛利率產生一些暫時的影響。就營業利潤率而言，這將是大部分額外投資的所在。如您所知，在我們的業務中，這實際上歸結為添加 Atlassians。所以這就是為什麼它真的 - 我們在信中描述它是我們的首要任務。

So that's what we'll be focused on opportunities across the 3 markets. The platform, I think, is a really important accelerant of our business. You've seen that showing up in our ability to quickly get new products developed. Point A, we've talked about those new products under that program will continue to be important. So we'll continue to be very focused on the quality of our investing and the returns that we can generate for our shareholders. And I'd be confident that the health of the financial model for Atlassian will be strong.

這就是我們將重點關註三個市場的機會。我認為，該平台是我們業務的一個非常重要的促進劑。您已經看到，我們快速開發新產品的能力體現了這一點。 A點，我們已經討論過該計劃下的那些新產品將繼續很重要。因此，我們將繼續非常關注我們的投資質量以及我們可以為股東創造的回報。我相信 Atlassian 財務模型的健康狀況會很好。

And that concludes our question-and-answer session. I will now turn the call back to Scott. Sir, please go ahead.

我們的問答環節到此結束。我現在將電話轉回給斯科特。先生，請繼續。

I just wanted to thank everyone for joining the call today. Thank you to our customers and to all the fantastic Atlassians out there, past, present and future. We appreciate your ongoing support, and we hope that you and your loved ones remain safe and healthy in these times. Lastly, we hope to see some of you in person and for the rest of you in the team virtually to Team '22 coming up in April. Have a good rest of your day.

我只是想感謝大家今天加入電話會議。感謝我們的客戶以及過去、現在和未來所有出色的 Atlassians。我們感謝您一直以來的支持，我們希望您和您所愛的人在這些時期保持安全和健康。最後，我們希望看到你們中的一些人，以及團隊中的其他人，到 4 月即將到來的 Team '22。好好休息一天。

Thank you. This concludes today's conference call. Thank you for participating. You may now disconnect.

謝謝你。今天的電話會議到此結束。感謝您的參與。您現在可以斷開連接。