TEAM — what changed in the latest 10-Q
A section-by-section comparison of TEAM's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-05-01 vs the prior 10-Q · 2026-02-06
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +38 | −38 | ~47 | 43 |
| Market risk (Item 3) | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 1 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Risk factors | Some risk factors updated | +33 | −37 | ~33 | 242 |
| Other information | Text added/removed | +3 | −2 | 0 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-05-01
During the first quarter of fiscal year 2026, we initiated a restructuring plan (“July 2025 Plan”) to reduce additional capacity no longer necessary due to the increased ability, accessibility, performance, stability, and supportability of our products. The July 2025 Plan is substantially completed …
During the third quarter of fiscal year 2026, we initiated a restructuring plan (“March 2026 Plan”) to accelerate building the future of teamwork in the AI era. This includes self-funding further investment in key strategic priorities, such as AI and enterprise sales, reorganizing our teams to move …
As a result, we recorded total severance and other termination benefits of $198.1 million and stock-based compensation of $1.4 million for the affected employees for the nine months ended March 31, 2026.
In addition, we exited certain leased properties, which we plan to sublease, in order to optimize our real estate footprint. As a result, we recorded total impairment charges for the related operating lease right-of-use assets and leasehold improvements of $80.0 million for the nine months ended Mar…
A summary of restructuring charges for the nine months ended March 31, 2026 by major activity type is as follows (in thousands):
Text removed vs the prior filing · source: 10-Q · 2026-02-06
During the first quarter of fiscal 2026, we initiated a rebalancing of resources, resulting in the elimination of certain roles. These actions were part of our initiatives to reduce additional capacity no longer necessary due to the increased ability, accessibility, performance, stability, and suppo…
In addition, during the first quarter of fiscal 2026, we exited certain floors of a leased property, which we plan to sublease, in order to optimize our real estate footprint. As a result, we recorded impairment charges for the related operating lease right-of-use assets and leasehold improvements o…
A summary of restructuring charges for the six months ended December 31, 2025 by major activity type is as follows (in thousands):
The execution of these actions, including cash payment of the severance and other termination benefits related liabilities, was substantially completed as of December 31, 2025. Refer to Note 14, “Restructuring,” in the notes of our condensed consolidated financial statements for additional informati…
We define the number of total customers at the end of any particular period as the number of organizations with unique domains with an active subscription for two or more seats. We define the number of customers with Cloud ARR greater than $10,000 using the same definition as total customers, with t…
Risk factors
Text added vs the prior filing · source: 10-Q · 2026-05-01
market, interest rate, and inflation volatility, have and may continue to cause us to experience decreased demand for our products and services, increases in our operating costs (including our labor costs), reduced liquidity, and limits on our ability to access credit or otherwise raise capital.
Additionally, AI technology and services is a highly competitive and rapidly evolving market. Our competitors or other third parties may incorporate AI into their products and offerings more quickly or more successfully than we can. Our ability to compete in this space will also depend in part on ou…
Atlassian Ascend. Additionally, we may also be subject to additional competitive and pricing pressures for our Cloud offerings compared to our Data Center offerings, which could harm our business. Revenues recognized from our Cloud offerings are also typically lower in the initial year compared to o…
increases our costs, without assurance that customers receiving these services will renew at the same level or at all. Additionally, our revenue from enterprise customers may be affected by seasonality in sales cycles, extended collection cycles, potential deferral of revenue, and alternative licens…
with these and other third-party applications in the future, demand for our offerings could decline and our business and results of operations could be harmed.
Text removed vs the prior filing · source: 10-Q · 2026-02-06
Additionally, AI technology and services is a highly competitive and rapidly evolving market. Our competitors or other third parties may incorporate AI into their products and offerings more quickly or more successfully than we
can. Our ability to compete in this space will also depend in part on our ability to attract and retain employees with AI expertise. We also rely on certain third-party AI models, products, and integration providers. Such providers may be prohibited from offering certain models or technologies in ju…
jurisdictions, we may experience difficulties, including in hiring, training, and managing a diffuse and growing employee base.
adoption within their organizations. Additionally, we have historically increased and will continue to increase prices from time to time, which may also hurt the efficacy of this strategy.
We have completed a number of acquisitions and strategic investments and continue to evaluate and consider additional strategic transactions, including acquisitions of, or investments in, businesses, technologies,
Other information
Text added vs the prior filing · source: 10-Q · 2026-05-01
On February 6, 2026, Michael Cannon-Brookes, the Company’s Chief Executive Officer and a member of the Company’s Board of Directors, terminated a Rule 10b5-1 trading arrangement that was originally entered into, through a trust for which he is a trustee, on February 20, 2025. The plan was initially …
On February 6, 2026, Scott Farquhar, a member of the Company’s Board of Directors, terminated a Rule 10b5-1 trading arrangement that was originally entered into, through a trust for which he is a trustee, on February 12, 2025. The plan was initially intended to sell up to 1,916,250 shares of the Com…
On March 6, 2026, Brian Duffy, the Company’s Chief Revenue Officer, adopted a Rule 10b5-1 trading arrangement that is intended to satisfy the affirmative defense of Rule 10b5-1(c) for the sale of up to 38,873 shares of the Company’s Class A Common Stock, pursuant to the terms of the plan, until June…
Text removed vs the prior filing · source: 10-Q · 2026-02-06
On December 5, 2025, Rajeev Rajan, the Company’s Chief Technology Officer, adopted a Rule 10b5-1 trading arrangement that is intended to satisfy the affirmative defense of Rule 10b5-1(c) for the sale of (i) up to 34,457 shares of the Company’s Class A Common Stock, (ii) up to 100% of the shares of t…
On December 5, 2025, Gene Liu, the Company’s Chief Accounting Officer, adopted a Rule 10b5-1 trading arrangement that is intended to satisfy the affirmative defense of Rule 10b5-1(c) for the sale of up to 6,432 shares of the Company’s Class A Common Stock pursuant to the terms of the plan, until Mar…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice