An asset that has a significant value but no physical presence and offers a business long-term financial value is referred to as an "intangible asset". Identifiable intangible assets are those that may be independently marketed by the company, are distinguishable from other assets, and can be identified. Intellectual property, such as patents, trademarks, and copyrights, as well as non-cash government grants, like airport landing rights or broadcasting licenses, are examples of identifiable intangible assets. A trademark is a sign that can be used to distinguish one company's goods or services from those of other businesses. For trademarks, intellectual property rights offer protection. When purchased separately, intangible assets are capitalized at fair value as of the date of acquisition rather than cost.
Atlassian’s gross intangible assets surged from $260.2 million in FY2021 to $268.0 million in FY2022, an increase of 3.0%. As per the company's assessment of the fair value of identified intangible assets, acquired developed technology and trademarks & other rights accounted for $234.6 million and $33.4 million, respectively. In FY2022, the company's net value of intangible assets was $100.8 million. The company's amortization expense for intangible assets was $32.4 million in FY2022.
In FY2021, the company completed the acquisition of Chartio, a data analytics and visualization tool that allows users to create dashboards and charts using their various data sources. Atlassian acquired Chartio for a total consideration of $45.6 million. As of the acquisition date, the company initially recorded developed technology intangible assets of $12.4 million and goodwill of $33.4 million. The company’s Patents, Trademarks, and other rights grew from $29.4 million in FY2021 to $33.4 million in FY2022.
Atlassian Corp Plc (Atlassian) is a software company. It carries out the designing, developing, licensing, and maintaining of software, and offers software hosting service. The company provides products such as Jira Software, Jira work management, Jira align, Jira service management, statuspage, Sourcetree, confluence, Trello, opsgenie, and bitbucket. It’s Jira, a team planning and project management platform, and confluence, a team content creation, and sharing solution. It also offers bitbucket, a team code sharing, and management software, as well as a Jira service desk for team services and support applications.
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