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Autodesk, Inc.

$ADSK
$198.90
Капитализция: $41.7B
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О компании

Autodesk, Inc. осуществляет производство и поддержку программного обеспечения и мультимедийных приложений. Продукты Autodesk, Inc., позволяющие моделировать в двухмерном и трехмерном пространстве, используются в промышленности и физическими лицами для архитектурного дизайна, показать больше
географических информационных систем и карт, визуальных приложений. Autodesk, Inc. была основана в 1994 году и является корпорацией, учрежденной в соответствии с законодательством штата Делавэр.
Autodesk, Inc. provides 3D design, engineering, and entertainment software and services worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects BIM 360, a construction management cloud-based software AutoCAD, a software for professional design, drafting, detailing, and visualization AutoCAD LT, a drafting and detailing software computer-aided manufacturing (CAM) software for computer numeric control machining, inspection, and modelling for manufacturing Fusion 360, a 3D CAD, CAM, and computer-aided engineering tool and Industry Collections tools for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment collection industries. It also provides Inventor tools for 3D mechanical design, simulation, analysis, tooling, visualization, and documentation Vault, a data management software to manage data in one central location, accelerate design processes, and streamline internal/external collaboration Maya and 3ds Max software products that offer 3D modeling, animation, effects, rendering, and compositing solutions and Shotgun, a cloud-based software for review and production tracking in the media and entertainment industry. In addition, the company offers PlanGrid, a cloud-based field collaboration software, which provides general contractors, subcontractors, owners, and architects access to construction information in real-time Revit software for building information modeling and BuildingConnected, a bid-management solution. Autodesk, Inc. sells its products and services to customers directly, as well as through a network of resellers and distributors. The company was founded in 1982 and is headquartered in San Rafael, California.
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AUTODESK, INC. ANNOUNCES FISCAL 2023 FIRST QUARTER RESULTS

Autodesk, вкл. объявляет результаты первого квартала 2023 финансового года

26 мая 2022 г.

- First quarter, year-over-year revenue growth of 18 percent and billings growth of 16 percent

- First quarter GAAP and non-GAAP operating margin expanded by 4 and 6 percentage points, respectively

SAN FRANCISCO, May 26, 2022 /PRNewswire/ -- Autodesk, Inc. (NASDAQ: ADSK) today reported financial results for the first quarter of fiscal 2023.

All growth rates are compared to the first quarter of fiscal 2022, unless otherwise noted. A reconciliation of GAAP to non-GAAP results is provided in the accompanying tables. For definitions, please view the Glossary of Terms later in this document.

  • Total revenue increased 18 percent to $1,170 million;
  • GAAP operating margin was 18 percent, up 4 percentage points;
  • Non-GAAP operating margin was up 6 percentage points to 34 percent;
  • GAAP diluted EPS was $0.67; Non-GAAP diluted EPS was $1.43;
  • Cash flow from operating activities was $434 million; free cash flow was $422 million.

"Autodesk's strong Q1 results reflect the company's steady execution, industry leading products and platforms, and resilience through elevated times of uncertainty," said Andrew Anagnost, Autodesk president and CEO. "Our unique ability to connect workflows within and between the industries we serve cements the important role we play in our customers' digital transformation journeys, and increases our confidence in our strategy."

"Broad-based strength across products and regions, a strong competitive performance, and continued cost discipline delivered robust revenue growth, margin expansion, and free cash flow generation," said Debbie Clifford, Autodesk CFO. "We exited the first quarter with strong momentum, save for Russia and currency movements during the quarter, for which we've adjusted our outlook."

  • Total billings increased 16 percent to $1,129 million.
  • Total revenue was $1,170 million, an increase of 18 percent as reported, and 17 percent on a constant currency basis. Recurring revenue represents 98 percent of total.
  • Design revenue was $1,004 million, an increase of 16 percent as reported, and 15 percent on a constant currency basis. On a sequential basis, Design revenue decreased 1 percent as reported, and on a constant currency basis.
  • Make revenue was $103 million, an increase of 27 percent as reported, and 26 percent on a constant currency basis. On a sequential basis, Make revenue increased 4 percent as reported and on a constant currency basis.
  • Subscription plan revenue was $1,089 million, an increase of 17 percent as reported and on a constant currency basis. On a sequential basis, subscription plan revenue remained flat as reported and on a constant currency basis.
  • Net revenue retention rate remained within the range of 100 to 110 percent.
  • GAAP operating income was $214 million, compared to $134 million in the first quarter last year. GAAP operating margin was 18 percent, up 4 percentage points.
  • Total non-GAAP operating income was $397 million, compared to $280 million in the first quarter last year. Non-GAAP operating margin was 34 percent, up 6 percentage points compared to the first quarter last year.
  • GAAP diluted net income per share was $0.67, compared to $0.70 in the first quarter last year.
  • Non-GAAP diluted net income per share was $1.43, compared to $1.03 in the first quarter last year.
  • Deferred revenue increased 12 percent to $3.75 billion. Unbilled deferred revenue was $934 million, an increase of $45 million compared to the first quarter of last year. Remaining performance obligations ("RPO") increased 11 percent to $4.68 billion. Current RPO increased 10 percent to $3.14 billion.
  • Cash flow from operating activities was $434 million, an increase of $98 million compared to the first quarter last year. Free cash flow was $422 million, an increase of $106 million compared to the first quarter last year.

First Quarter Fiscal 2023 Business Highlights


Net Revenue by Geographic Area



Three Months
Ended April 30,
2022


Three Months
Ended April 30,
2021


Change
compared to

prior fiscal year


Constant currency
change compared
to prior fiscal year

(In millions, except percentages) (1)



$


%


%

Net Revenue:










     Americas










          U.S.

$                    398


$                    324


$     74


23 %


*

          Other Americas

86


67


19


28 %


*

               Total Americas

484


391


93


24 %


23 %

     EMEA

449


383


66


17 %


15 %

     APAC

237


215


22


10 %


12 %

Total Net Revenue

$                  1,170


$                    989


$    181


18 %


17 %

____________________

*  Constant currency data not provided at this level.

(1) In the current fiscal year, the Company changed its rounding presentation to the nearest whole number in millions of reported amounts, except per share data or as otherwise noted. The current year rounding presentation has been applied to all prior year amounts presented and, in certain circumstances, this change may adjust previously reported balances.

Net Revenue by Product Family


Our product offerings are focused in four primary product families: Architecture, Engineering and Construction ("AEC"), AutoCAD and AutoCAD LT, Manufacturing ("MFG"), and Media and Entertainment ("M&E").



Three Months
Ended April 30,
2022


Three Months
Ended April 30,
2021


Change compared to

prior fiscal year

(In millions, except percentages) (1)


$


%

AEC

$                      518


$                    443


$        75


17 %

AutoCAD and AutoCAD LT

346


285


61


21 %

MFG

225


197


28


14 %

M&E

68


55


13


24 %

Other

13


9


4


44 %


$                    1,170


$                     989


$      181


18 %

____________________ 

(1) In the current fiscal year, the Company changed its rounding presentation to the nearest whole number in millions of reported amounts, except per share data or as otherwise noted. The current year rounding presentation has been applied to all prior year amounts presented and, in certain circumstances, this change may adjust previously reported balances.

Business Outlook

The following are forward-looking statements based on current expectations and assumptions, and involve risks and uncertainties, some of which are set forth below under "Safe Harbor Statement."  Autodesk's business outlook for the second quarter and full-year fiscal 2023 takes into consideration the current economic environment and foreign exchange currency rate environment. A reconciliation between the fiscal 2023 GAAP and non-GAAP estimates is provided below or in the tables following this press release.

Second Quarter Fiscal 2023


Q2 FY23 Guidance Metrics

Q2 FY23
(ending July 31, 2022)

Revenue (in millions)

$1,220 - $1,235

EPS GAAP

$0.72 - $0.78

EPS non-GAAP (1)

$1.54 - $1.60

____________________

(1) Non-GAAP earnings per diluted share excludes $0.80 related to stock-based compensation expense, $0.11 for the amortization of purchased intangibles, $0.02 for lease-related impairments and other charges, $0.01 for acquisition-related costs, partially offset by ($0.12) related to GAAP-only tax charges.

Full Year Fiscal 2023


FY23 Guidance Metrics

FY23
(ending January 31, 2023)

Billings (in millions) (1)

$5,680 - $5,830
Up 18% - 21%

Revenue (in millions) (2)

$4,960 - $5,060
Up 13% - 15%

GAAP operating margin

Approx. 20%

Non-GAAP operating margin (3)

Approx. 36%

EPS GAAP

$3.24 - $3.47

EPS non-GAAP (4)

$6.43 - $6.66

Free cash flow (in millions) (5)

$2,000 - $2,080

____________________

(1) Excluding the approximately $165 million impact of foreign currency exchange rates and hedge gains/losses, billings guidance would be $5,845 - $5,995 million.

(2) Excluding the approximately $70 million impact of foreign currency exchange rates and hedge gains/losses, revenue guidance would be $5,030 - $5,130 million.

(3) Non-GAAP operating margin excludes approximately 13% related to stock-based compensation expense, approximately 2% for the amortization of purchased intangibles, less than 1% related to acquisition-related costs, and less than 1% related to lease-related asset impairments and other charges. 

(4) Non-GAAP earnings per diluted share excludes $3.04 related to stock-based compensation expense, $0.45 for the amortization of purchased intangibles, $0.07 related to lease-related asset impairments and other charges. $0.03 related to acquisition-related costs, partially offset by ($0.40) related to GAAP-only tax charges.

(5) Free cash flow is cash flow from operating activities less approximately $60 million of capital expenditures.

The second quarter and full-year fiscal 2023 outlook assume a projected annual effective tax rate of 22 percent and 17 percent for GAAP and non-GAAP results, respectively. Shifts in geographic profitability continue to impact the annual effective tax rate due to significant differences in tax rates in various jurisdictions. Therefore, assumptions for the annual effective tax rate are evaluated regularly and may change based on the projected geographic mix of earnings.

Autodesk will host its first quarter conference call today at 5 p.m. ET. The live broadcast can be accessed at autodesk.com/investor. A transcript of the opening commentary will also be available following the conference call. 

A replay of the broadcast will be available at 7 p.m. ET at autodesk.com/investor. This replay will be maintained on Autodesk's website for at least 12 months.

An investor presentation, excel financials and other supplemental materials providing additional information can be found at autodesk.com/investor.

To help better understand our financial performance, we use several key performance metrics including billings, recurring revenue and net revenue retention rate ("NR3"). These metrics are key performance metrics and should be viewed independently of revenue and deferred revenue. These metrics are not intended to be combined with those items. We use these metrics to monitor the strength of our recurring business. We believe these metrics are useful to investors because they can help in monitoring the long-term health of our business. Our determination and presentation of these metrics may differ from that of other companies. The presentation of these metrics is meant to be considered in addition to, not as a substitute for or in isolation from, our financial measures prepared in accordance with GAAP.

Billings: Total revenue plus the net change in deferred revenue from the beginning to the end of the period.

Cloud Service Offerings: Represents individual term-based offerings deployed through web browser technologies or in a hybrid software and cloud configuration. Cloud service offerings that are bundled with other product offerings are not captured as a separate cloud service offering.

Constant Currency (CC) Growth Rates: We attempt to represent the changes in the underlying business operations by eliminating fluctuations caused by changes in foreign currency exchange rates as well as eliminating hedge gains or losses recorded within the current and comparative periods. We calculate constant currency growth rates by (i) applying the applicable prior period exchange rates to current period results and (ii) excluding any gains or losses from foreign currency hedge contracts that are reported in the current and comparative periods.

Design Business: Represents the combination of maintenance, product subscriptions, and all EBAs. Main products include, but are not limited to, AutoCAD, AutoCAD LT, Industry Collections, Revit, Inventor, Maya and 3ds Max. Certain products, such as our computer aided manufacturing solutions, incorporate both Design and Make functionality and are classified as Design.

Enterprise Business Agreements (EBAs): Represents programs providing enterprise customers with token-based access to a broad pool of Autodesk products over a defined contract term.

Free Cash Flow: Cash flow from operating activities minus capital expenditures.

Industry Collections: Autodesk Industry Collections are a combination of products and services that target a specific user objective and support a set of workflows for that objective. Our Industry Collections consist of: Autodesk Architecture, Engineering and Construction Collection, Autodesk Product Design and Manufacturing Collection, and Autodesk Media and Entertainment Collection.

Maintenance Plan: Our maintenance plans provide our customers with a cost effective and predictable budgetary option to obtain the productivity benefits of our new releases and enhancements when and if released during the term of their contracts. Under our maintenance plans, customers are eligible to receive unspecified upgrades when and if available, and technical support. We recognize maintenance revenue over the term of the agreements, generally one year.   

Make Business: Represents certain cloud-based product subscriptions. Main products include, but are not limited to, Assemble, Autodesk Build, BuildingConnected, Fusion 360 and ShotGrid. Certain products, such as Fusion 360, incorporate both Design and Make functionality and are classified as Make.

Net Revenue Retention Rate (NR3): Measures the year-over-year change in Recurring Revenue for the population of customers that existed one year ago ("base customers").  Net revenue retention rate is calculated by dividing the current quarter Recurring Revenue related to base customers by the total corresponding quarter Recurring Revenue from one year ago. Recurring Revenue is based on USD reported revenue, and fluctuations caused by changes in foreign currency exchange rates and hedge gains or losses have not been eliminated. Recurring Revenue related to acquired companies, one year after acquisition, has been captured as existing customers until such data conforms to the calculation methodology. This may cause variability in the comparison.

Other Revenue: Consists of revenue from consulting, training, and other products and services, and is recognized as the products are delivered and services are performed. 

Product Subscription: Provides customers a flexible, cost-effective way to access and manage 3D design, engineering, and entertainment software tools. Our product subscriptions currently represent a hybrid of desktop and cloud functionality, which provides a device-independent, collaborative design workflow for designers and their stakeholders. 

Recurring Revenue: Consists of the revenue for the period from our traditional maintenance plans, our subscription plan offerings, and certain Other revenue. It excludes subscription revenue related to third-party products. Recurring revenue acquired with the acquisition of a business is captured when total subscriptions are captured in our systems and may cause variability in the comparison of this calculation.  

Remaining Performance Obligations (RPO): The sum of total short-term, long-term, and unbilled deferred revenue. Current remaining performance obligations is the amount of revenue we expect to recognize in the next twelve months.  

Spend: The sum of cost of revenue and operating expenses.

Subscription Plan: Comprises our term-based product subscriptions, cloud service offerings, and EBAs. Subscriptions represent a combined hybrid offering of desktop software and cloud functionality which provides a device-independent, collaborative design workflow for designers and their stakeholders. With subscription, customers can use our software anytime, anywhere, and get access to the latest updates to previous versions. 

Subscription Revenue: Includes our cloud-enabled term-based product subscriptions, cloud service offerings, and flexible EBAs. 

Unbilled Deferred Revenue: Unbilled deferred revenue represents contractually stated or committed orders under early renewal and multi-year billing plans for subscription, services, and maintenance for which the associated deferred revenue has not been recognized. Under FASB Accounting Standards Codification ("ASC") Topic 606, unbilled deferred revenue is not included as a receivable or deferred revenue on our Condensed Consolidated Balance Sheet. 

This press release contains forward-looking statements that involve risks and uncertainties, including quotations from management, statements in the paragraphs under "Business Outlook" above statements about our short-term and long-term goals, statements regarding our strategies, market and product positions, performance and results, and all statements that are not historical facts. There are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including: our strategy to develop and introduce new products and services, exposing us to risks such as limited customer acceptance, costs related to product defects, and large expenditures; the effects of the COVID-19 pandemic and related public health measures; global economic and political conditions, including supply chain disruptions, resulting inflationary pressures and hiring conditions; costs and challenges associated with strategic acquisitions and investments; dependency on international revenue and operations, exposing us to significant international regulatory, economic, intellectual property, collections, currency exchange rate, taxation, political, and other risks, including risks related to the war against Ukraine launched by Russia and our exit from Russia; inability to predict subscription renewal rates and their impact on our future revenue and operating results; existing and increased competition and rapidly evolving technological changes; fluctuation of our financial results, key metrics and other operating metrics; deriving a substantial portion of our net revenue from a small number of solutions, including our AutoCAD-based software products and collections; any failure to successfully execute and manage initiatives to realign or introduce new business and sales initiatives; net revenue, billings, earnings, cash flow, or subscriptions shortfalls; social and ethical issues relating to the use of artificial intelligence in our offerings; security incidents or other incidents compromising the integrity of our or our customers' offerings, services, data, or intellectual property; reliance on third parties to provide us with a number of operational and technical services as well as software; our highly complex software, which may contain undetected errors, defects, or vulnerabilities; increasing regulatory focus on privacy issues and expanding laws; governmental export and import controls that could impair our ability to compete in international markets or subject us to liability if we violate the controls; protection of our intellectual property rights and intellectual property infringement claims from others; the government procurement process; fluctuations in currency exchange rates; our debt service obligations; and our investment portfolio consisting of a variety of investment vehicles that are subject to interest rate trends, market volatility, and other economic factors. Our estimates as to tax rate are based on current tax law, including current interpretations of the Tax Cuts and Jobs Act, and could be affected by changing interpretations of that Act, as well as additional legislation and guidance around that Act.

Further information on potential factors that could affect the financial results of Autodesk are included in Autodesk's Form 10-K and subsequent forms 10-Q, which are on file with the U.S. Securities and Exchange Commission. Autodesk disclaims any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.

Autodesk is changing how the world is designed and made. Our technology spans architecture, engineering, construction, product design, manufacturing, media and entertainment, empowering innovators everywhere to solve challenges big and small. From greener buildings to smarter products to more mesmerizing blockbusters, Autodesk software helps our customers to design and make a better world for all. For more information visit autodesk.com or follow @autodesk.

Autodesk uses its investors.autodesk.com website as a means of disclosing material non-public information, announcing upcoming investor conferences and for complying with its disclosure obligations under Regulation FD. Accordingly, you should monitor our investor relations website in addition to following our press releases, SEC filings and public conference calls and webcasts.

Autodesk, AutoCAD, AutoCAD LT, BIM 360 and Fusion 360 are registered trademarks of Autodesk, Inc., and/or its subsidiaries and/or affiliates in the USA and/or other countries. All other brand names, product names or trademarks belong to their respective holders. Autodesk reserves the right to alter product and service offerings, and specifications and pricing at any time without notice, and is not responsible for typographical or graphical errors that may appear in this document.

© 2022 Autodesk, Inc. All rights reserved.

Autodesk, Inc.




Condensed Consolidated Statements of Operations

(In millions, except per share data) (1)









Three Months Ended April 30,


2022


2021


(Unaudited)

Net revenue (2):




     Subscription

$            1,089


$                927

     Maintenance

18


19

         Total subscription and maintenance revenue

1,107


946

     Other

63


43

          Total net revenue

1,170


989

Cost of revenue:




     Cost of subscription and maintenance revenue

84


68

     Cost of other revenue

19


14

     Amortization of developed technologies

14


10

          Total cost of revenue

117


92

Gross profit

1,053


897

Operating expenses:




     Marketing and sales

419


377

     Research and development

289


266

     General and administrative

120


112

     Amortization of purchased intangibles

11


8

          Total operating expenses

839


763

Income from operations

214


134

Interest and other expense, net

(19)


(3)

Income before income taxes

195


131

(Provision) benefit for income taxes

(49)


25

Net income

$              146


$                156

Basic net income per share

$              0.67


$               0.71

Diluted net income per share

$              0.67


$              0.70

Weighted average shares used in computing basic net income per share

217


220

Weighted average shares used in computing diluted net income per share

219


222

____________________ 

(1) In the current fiscal year, the Company changed its rounding presentation to the nearest whole number in millions of reported amounts, except per share data or as otherwise noted. The current year rounding presentation has been applied to all prior year amounts presented and, in certain circumstances, this change may adjust previously reported balances.


(2) During the quarter ended April 30, 2022, the Company changed its presentation of certain subscription plan offerings in our Condensed Consolidated Statement of Operations. Revenue from subscription plan offerings in which the customer does not utilize the cloud functionality or that do not incorporate substantial cloud functionality, previously recorded in "Subscription" have been reclassified to "Other" and "Maintenance," as applicable.  Accordingly, prior period amounts have been reclassified to conform to the current period presentation, in all material respects. These reclassifications did not impact total net revenue.

Autodesk, Inc.




Condensed Consolidated Balance Sheets




(In millions) (1)









April 30, 2022


January 31, 2022


(Unaudited)

ASSETS




Current assets:




     Cash and cash equivalents

$                   1,518


$                      1,528

     Marketable securities

67


236

     Accounts receivable, net

384


716

     Prepaid expenses and other current assets

389


284

Total current assets

2,358


2,764

Long-term marketable securities

39


45

Computer equipment, software, furniture and leasehold improvements, net

162


162

Operating lease right-of-use assets

303


305

Intangible assets, net

479


494

Goodwill

3,642


3,604

Deferred income taxes, net

759


741

Long-term other assets

519


492

Total assets

$                    8,261


$                     8,607

LIABILITIES AND STOCKHOLDERS' EQUITY




Current liabilities:




     Accounts payable

$                        135


$                          121

     Accrued compensation

220


341

     Accrued income taxes

50


30

     Deferred revenue

2,809


2,863

     Operating lease liabilities

77


87

     Current portion of long-term notes payable, net

350


350

     Other accrued liabilities

160


217

Total current liabilities

3,801


4,009

Long-term deferred revenue

940


927

Long-term operating lease liabilities

347


346

Long-term income taxes payable

37


20

Long-term deferred income taxes

34


29

Long-term notes payable, net

2,279


2,278

Long-term other liabilities

142


149

Stockholders' equity:




     Common stock and additional paid-in capital

2,972


2,923

     Accumulated other comprehensive loss

(148)


(124)

     Accumulated deficit

(2,143)


(1,950)

Total stockholders' equity

681


849

Total liabilities and stockholders' equity

$                    8,261


$                     8,607

____________________ 

(1) In the current fiscal year, the Company changed its rounding presentation to the nearest whole number in millions of reported amounts, except per share data or as otherwise noted. The current year rounding presentation has been applied to all prior year amounts presented and, in certain circumstances, this change may adjust previously reported balances.

Autodesk, Inc.




Condensed Consolidated Statements of Cash Flows




(In millions) (1)









Three Months Ended April 30,


2022


2021


(Unaudited)

Operating activities:




     Net income

$                 146


$              156

     Adjustments to reconcile net income to net cash provided by operating activities:




          Depreciation, amortization and accretion

38


33

          Stock-based compensation expense

152


116

          Deferred income taxes

(22)


19

          Lease-related asset impairments

2


          Other

27


19

     Changes in operating assets and liabilities, net of business combinations:




          Accounts receivable

332


324

          Prepaid expenses and other assets

(23)


(126)

          Accounts payable and other liabilities

(218)


(182)

          Deferred revenue

(38)


(28)

          Accrued income taxes

38


5

Net cash provided by operating activities

434


336

Investing activities:




          Purchases of marketable securities

(29)


          Sales and maturities of marketable securities

202


4

          Capital expenditures

(12)


(20)

          Purchases of developed technologies

(4)


(1)

          Business combinations, net of cash acquired

(96)


(1,032)

          Other investing activities

(30)


9

Net cash provided by (used in) investing activities

31


(1,040)

Financing activities:




          Proceeds from issuance of common stock, net of issuance costs

67


64

          Taxes paid related to net share settlement of equity awards

(70)


(55)

          Repurchases of common stock

(457)


(151)

Net cash used in financing activities

(460)


(142)

Effect of exchange rate changes on cash and cash equivalents

(15)


(3)

Net decrease in cash and cash equivalents

(10)


(849)

Cash and cash equivalents at beginning of period

1,528


1,772

Cash and cash equivalents at end of period

$              1,518


$            923





Supplemental cash flow disclosure:




Non-cash financing activities:




     Fair value of common stock issued related to business combination

$                    10


$                   3

____________________

(1) In the current fiscal year, the Company changed its rounding presentation to the nearest whole number in millions of reported amounts, except per share data or as otherwise noted. The current year rounding presentation has been applied to all prior year amounts presented and, in certain circumstances, this change may adjust previously reported balances.

Autodesk, Inc.




Reconciliation of GAAP financial measures to non-GAAP financial measures

(In millions, except per share data) (2)





To supplement our condensed consolidated financial statements presented on a GAAP basis, we provide investors with certain non-GAAP measures including non-GAAP operating margin, non-GAAP income from operations, non-GAAP diluted net income per share, and free cash flow. For our internal budgeting and resource allocation process and as a means to evaluate period-to-period comparisons, we use non-GAAP measures to supplement our condensed consolidated financial statements presented on a GAAP basis. These non-GAAP measures do not include certain items that may have a material impact upon our future reported financial results. We use non-GAAP measures in making operating decisions because we believe those measures provide meaningful supplemental information regarding our earning potential and performance for management by excluding certain expenses and charges that may not be indicative of our core business operating results.  For the reasons set forth below, we believe these non-GAAP financial measures are useful to investors both because (1) they allow for greater transparency with respect to key metrics used by management in its financial and operational decision-making and (2) they are used by our institutional investors and the analyst community to help them analyze the health of our business. This allows investors and others to better understand and evaluate our operating results and future prospects in the same manner as management, compare financial results across accounting periods and to those of peer companies and to better understand the long-term performance of our core business. We also use some of these measures for purposes of determining company-wide incentive compensation.

There are limitations in using non-GAAP financial measures because non-GAAP financial measures are not prepared in accordance with GAAP and may be different from non-GAAP financial measures used by other companies. The non-GAAP financial measures are limited in value because they exclude certain items that may have a material impact upon our reported financial results. In addition, they are subject to inherent limitations as they reflect the exercise of judgments by management about which charges are excluded from the non-GAAP financial measures. We compensate for these limitations by analyzing current and future results on a GAAP basis as well as a non-GAAP basis and also by providing GAAP measures in our public disclosures. The presentation of non-GAAP financial information is meant to be considered in addition to, not as a substitute for or in isolation from, the directly comparable financial measures prepared in accordance with GAAP. We urge investors to review the reconciliation of our non-GAAP financial measures to the comparable GAAP financial measures included in this presentation, and not to rely on any single financial measure to evaluate our business.





The following table shows Autodesk's GAAP results reconciled to non-GAAP results included in this release.




Three Months Ended April 30,


2022


2021


(Unaudited)

GAAP operating margin

18  %


14  %

Stock-based compensation expense

13  %


12 %

Amortization of developed technologies

1 %


1 %

Amortization of purchased intangibles

1 %


1 %

Acquisition-related costs

— %


1 %

Non-GAAP operating margin (1)

34 %


28  %





GAAP income from operations

$                  214


$            134

Stock-based compensation expense

155


116

Amortization of developed technologies

13


10

Amortization of purchased intangibles

11


8

Acquisition-related costs

3


12

Lease-related asset impairments and other charges

1


Non-GAAP income from operations

$                 397


$           280





GAAP diluted net income per share

$               0.67


$         0.70

Stock-based compensation expense

0.71


0.52

Amortization of developed technologies

0.06


0.05

Amortization of purchased intangibles

0.05


0.04

Acquisition-related costs

0.01


0.05

Gain on strategic investments and dispositions, net


(0.02)

Discrete GAAP tax items

(0.04)


(0.25)

Income tax effect of non-GAAP adjustments

(0.03)


(0.06)

Non-GAAP diluted net income per share

$                1.43


$          1.03





Net cash provided by operating activities

$                434


$           336

Capital expenditures

(12)


(20)

Free cash flow

$                 422


$            316

____________________

(1)  Totals may not sum due to rounding.

(2)  In the current fiscal year, the Company changed its rounding presentation to the nearest whole number in millions of reported amounts, except per share data or as otherwise noted. The current year rounding presentation has been applied to all prior year amounts presented and, in certain circumstances, this change may adjust previously reported balances.

SOURCE Autodesk, Inc.

- Первый квартал, рост выручки в годовом исчислении на 18 процентов и рост выставленных счетов на 16 процентов

- Операционная маржа по ОПБУ и не по ОПБУ за первый квартал увеличилась на 4 и 6 процентных пунктов соответственно

САН-ФРАНЦИСКО, 26 мая 2022 г. /PRNewswire/ -- Autodesk, Inc. (NASDAQ: ADSK) сегодня сообщила о финансовых результатах за первый квартал 2023 финансового года.

Все темпы роста сравниваются с первым кварталом 2022 финансового года, если не указано иное. Сверка результатов GAAP с результатами, не относящимися к GAAP, приведена в прилагаемых таблицах. Для получения определений, пожалуйста, ознакомьтесь с Глоссарием терминов далее в этом документе.

  • Общая выручка увеличилась на 18 процентов и составила 1170 миллионов долларов;
  • Операционная маржа по GAAP составила 18 процентов, увеличившись на 4 процентных пункта;
  • Операционная маржа без учета GAAP выросла на 6 процентных пунктов до 34 процентов;
  • Разводненная прибыль на акцию по GAAP составила $0,67; разводненная прибыль на акцию без учета GAAP составила $1,43;
  • Денежный поток от операционной деятельности составил 434 миллиона долларов; свободный денежный поток составил 422 миллиона долларов.

"Высокие результаты Autodesk в первом квартале отражают стабильную работу компании, лидирующие в отрасли продукты и платформы, а также устойчивость в периоды повышенной неопределенности", - сказал Эндрю Анагност, президент и главный исполнительный директор Autodesk. "Наша уникальная способность связывать рабочие процессы внутри и между отраслями, которые мы обслуживаем, укрепляет важную роль, которую мы играем в процессе цифровой трансформации наших клиентов, и повышает нашу уверенность в нашей стратегии".

"Широкая поддержка различных продуктов и регионов, высокие конкурентные показатели и постоянная дисциплина затрат обеспечили устойчивый рост выручки, увеличение маржи и генерирование свободного денежного потока", - сказала Дебби Клиффорд, финансовый директор Autodesk. "Мы завершили первый квартал с сильной динамикой, за исключением России и колебаний валютных курсов в течение квартала, для которых мы скорректировали наш прогноз".

  • Общий объем выставленных счетов увеличился на 16 процентов и составил 1 129 миллионов долларов.
  • Общая выручка составила 1 170 миллионов долларов, увеличившись на 18 процентов, как сообщалось, и на 17 процентов в пересчете на постоянную валюту. Постоянный доход составляет 98 процентов от общего объема.
  • Выручка от проектирования составила 1 004 миллиона долларов, увеличившись на 16 процентов, как сообщалось, и на 15 процентов в постоянной валюте. На последовательной основе выручка от проектирования снизилась на 1 процент, как сообщалось, и на постоянной валютной основе.
  • Выручка Make составила 103 миллиона долларов, увеличившись на 27 процентов, как сообщалось, и на 26 процентов в постоянной валюте. На последовательной основе выручка Make увеличилась на 4 процента, как и сообщалось, и на постоянной валютной основе.
  • Доход от плана подписки составил 1 089 миллионов долларов, увеличившись на 17 процентов, как сообщалось, и на постоянной валютной основе. На последовательной основе выручка от плана подписки оставалась неизменной, как и сообщалось, и на постоянной валютной основе.
  • Показатель удержания чистой выручки оставался в диапазоне от 100 до 110 процентов.
  • Операционная прибыль по GAAP составила 214 миллионов долларов по сравнению со 134 миллионами долларов в первом квартале прошлого года. Операционная маржа по ОПБУ составила 18 процентов, увеличившись на 4 процентных пункта.
  • Общий операционный доход без учета GAAP составил 397 миллионов долларов по сравнению с 280 миллионами долларов в первом квартале прошлого года. Операционная маржа без учета GAAP составила 34 процента, что на 6 процентных пунктов больше, чем в первом квартале прошлого года.
  • Разводненная чистая прибыль на акцию по GAAP составила $0,67 по сравнению с $0,70 в первом квартале прошлого года.
  • Разводненная чистая прибыль на акцию без учета GAAP составила $1,43 по сравнению с $1,03 в первом квартале прошлого года.
  • Отложенный доход увеличился на 12 процентов и составил 3,75 миллиарда долларов. Нераспределенная отложенная выручка составила 934 миллиона долларов, увеличившись на 45 миллионов долларов по сравнению с первым кварталом прошлого года. Оставшиеся обязательства по исполнению ("RPO") увеличились на 11 процентов до 4,68 миллиарда долларов. Текущий RPO увеличился на 10 процентов до 3,14 миллиарда долларов.
  • Денежный поток от операционной деятельности составил 434 миллиона долларов, увеличившись на 98 миллионов долларов по сравнению с первым кварталом прошлого года. Свободный денежный поток составил 422 миллиона долларов, увеличившись на 106 миллионов долларов по сравнению с первым кварталом прошлого года.

First Quarter Fiscal 2023 Business Highlights


Net Revenue by Geographic Area



Three Months
Ended April 30,
2022


Three Months
Ended April 30,
2021


Change
compared to

prior fiscal year


Constant currency
change compared
to prior fiscal year

(In millions, except percentages) (1)



$


%


%

Net Revenue:










     Americas










          U.S.

$                    398


$                    324


$     74


23 %


*

          Other Americas

86


67


19


28 %


*

               Total Americas

484


391


93


24 %


23 %

     EMEA

449


383


66


17 %


15 %

     APAC

237


215


22


10 %


12 %

Total Net Revenue

$                  1,170


$                    989


$    181


18 %


17 %

____________________

*  Constant currency data not provided at this level.

(1) In the current fiscal year, the Company changed its rounding presentation to the nearest whole number in millions of reported amounts, except per share data or as otherwise noted. The current year rounding presentation has been applied to all prior year amounts presented and, in certain circumstances, this change may adjust previously reported balances.

Net Revenue by Product Family


Our product offerings are focused in four primary product families: Architecture, Engineering and Construction ("AEC"), AutoCAD and AutoCAD LT, Manufacturing ("MFG"), and Media and Entertainment ("M&E").



Three Months
Ended April 30,
2022


Three Months
Ended April 30,
2021


Change compared to

prior fiscal year

(In millions, except percentages) (1)


$


%

AEC

$                      518


$                    443


$        75


17 %

AutoCAD and AutoCAD LT

346


285


61


21 %

MFG

225


197


28


14 %

M&E

68


55


13


24 %

Other

13


9


4


44 %


$                    1,170


$                     989


$      181


18 %

____________________ 

(1) In the current fiscal year, the Company changed its rounding presentation to the nearest whole number in millions of reported amounts, except per share data or as otherwise noted. The current year rounding presentation has been applied to all prior year amounts presented and, in certain circumstances, this change may adjust previously reported balances.

Перспективы бизнеса

Нижеследующие заявления являются прогнозными, основанными на текущих ожиданиях и предположениях, и связаны с рисками и неопределенностями, некоторые из которых изложены ниже в разделе "Заявление о безопасной гавани".  Бизнес-прогноз Autodesk на второй квартал и весь 2023 финансовый год учитывает текущую экономическую ситуацию и ситуацию с курсом иностранной валюты. Сверка между оценками GAAP на 2023 финансовый год и оценками, не относящимися к GAAP, приведена ниже или в таблицах, следующих за этим пресс-релизом.

Second Quarter Fiscal 2023


Q2 FY23 Guidance Metrics

Q2 FY23
(ending July 31, 2022)

Revenue (in millions)

$1,220 - $1,235

EPS GAAP

$0.72 - $0.78

EPS non-GAAP (1)

$1.54 - $1.60

____________________

(1) Non-GAAP earnings per diluted share excludes $0.80 related to stock-based compensation expense, $0.11 for the amortization of purchased intangibles, $0.02 for lease-related impairments and other charges, $0.01 for acquisition-related costs, partially offset by ($0.12) related to GAAP-only tax charges.

Full Year Fiscal 2023


FY23 Guidance Metrics

FY23
(ending January 31, 2023)

Billings (in millions) (1)

$5,680 - $5,830
Up 18% - 21%

Revenue (in millions) (2)

$4,960 - $5,060
Up 13% - 15%

GAAP operating margin

Approx. 20%

Non-GAAP operating margin (3)

Approx. 36%

EPS GAAP

$3.24 - $3.47

EPS non-GAAP (4)

$6.43 - $6.66

Free cash flow (in millions) (5)

$2,000 - $2,080

____________________

(1) Excluding the approximately $165 million impact of foreign currency exchange rates and hedge gains/losses, billings guidance would be $5,845 - $5,995 million.

(2) Excluding the approximately $70 million impact of foreign currency exchange rates and hedge gains/losses, revenue guidance would be $5,030 - $5,130 million.

(3) Non-GAAP operating margin excludes approximately 13% related to stock-based compensation expense, approximately 2% for the amortization of purchased intangibles, less than 1% related to acquisition-related costs, and less than 1% related to lease-related asset impairments and other charges. 

(4) Non-GAAP earnings per diluted share excludes $3.04 related to stock-based compensation expense, $0.45 for the amortization of purchased intangibles, $0.07 related to lease-related asset impairments and other charges. $0.03 related to acquisition-related costs, partially offset by ($0.40) related to GAAP-only tax charges.

(5) Free cash flow is cash flow from operating activities less approximately $60 million of capital expenditures.

Прогноз на второй квартал и на весь 2023 финансовый год предполагает прогнозируемую годовую эффективную налоговую ставку в размере 22% и 17% для результатов по GAAP и не по GAAP соответственно. Изменения в географической прибыльности продолжают влиять на годовую эффективную налоговую ставку из-за значительных различий в налоговых ставках в различных юрисдикциях. Таким образом, допущения в отношении годовой эффективной налоговой ставки регулярно оцениваются и могут изменяться в зависимости от прогнозируемого географического распределения доходов.

Autodesk проведет свою селекторную конференцию за первый квартал сегодня в 5 часов вечера по восточному времени. Прямую трансляцию можно посмотреть по адресу Autodesk.com/investor . Стенограмма вступительного комментария также будет доступна после телефонной конференции. 

Повтор трансляции будет доступен в 7 часов вечера по восточному времени по адресу Autodesk.com/investor . Этот повтор будет сохраняться на веб-сайте Autodesk не менее 12 месяцев.

Презентацию инвестора, финансовые отчеты excel и другие дополнительные материалы, содержащие дополнительную информацию, можно найти по адресу Autodesk.com/investor .

Чтобы лучше понять наши финансовые показатели, мы используем несколько ключевых показателей эффективности, включая выставление счетов, постоянную выручку и коэффициент удержания чистой выручки ("NR3"). Эти показатели являются ключевыми показателями эффективности и должны рассматриваться независимо от выручки и доходов будущих периодов. Эти показатели не предназначены для объединения с этими элементами. Мы используем эти показатели для мониторинга эффективности нашего постоянного бизнеса. Мы считаем, что эти показатели полезны для инвесторов, поскольку они могут помочь в мониторинге долгосрочного состояния нашего бизнеса. Наше определение и представление этих показателей может отличаться от показателей других компаний. Представление этих показателей предназначено для рассмотрения в дополнение, а не в качестве замены или в отрыве от наших финансовых показателей, подготовленных в соответствии с GAAP.

Счета: Общая выручка плюс чистое изменение отложенной выручки с начала до конца периода.

Предложения облачных сервисов: Представляют собой индивидуальные предложения на основе терминов, развернутые с помощью технологий веб-браузера или в гибридной конфигурации программного обеспечения и облака. Предложения облачных сервисов, которые поставляются в комплекте с другими предложениями продуктов, не рассматриваются как отдельное предложение облачных сервисов.

Постоянные темпы роста в валюте (CC): Мы пытаемся отразить изменения в основных бизнес-операциях, устраняя колебания, вызванные изменениями курсов иностранных валют, а также исключая прибыли или убытки от хеджирования, зарегистрированные в текущем и сравнительном периодах. Мы рассчитываем постоянные темпы роста валютных курсов путем (i) применения применимых обменных курсов предыдущего периода к результатам текущего периода и (ii) исключения любых прибылей или убытков от контрактов на хеджирование в иностранной валюте, которые отражаются в текущем и сравнительном периодах.

Дизайн-бизнес: Представляет собой комбинацию технического обслуживания, подписки на продукты и всех EBA. Основные продукты включают, но не ограничиваются ими, AutoCAD, AutoCAD LT, Industry Collections, Revit, Inventor, Maya и 3ds Max. Некоторые продукты, такие как наши решения для автоматизированного производства, включают в себя как дизайн, так и функциональность изготовления и классифицируются как Дизайн.

Корпоративные деловые соглашения (EBAS): Представляет программы, предоставляющие корпоративным клиентам доступ на основе токенов к широкому пулу продуктов Autodesk в течение определенного срока действия контракта.

Свободный Денежный Поток: Денежный поток от операционной деятельности за вычетом капитальных затрат.

Отраслевые коллекции: Отраслевые коллекции Autodesk представляют собой комбинацию продуктов и услуг, которые нацелены на конкретную пользовательскую цель и поддерживают набор рабочих процессов для достижения этой цели. Наши Отраслевые коллекции состоят из: Коллекции Autodesk Architecture, Engineering and Construction, коллекции Autodesk Product Design and Manufacturing и коллекции Autodesk Media and Entertainment.

План технического обслуживания: Наши планы технического обслуживания предоставляют нашим клиентам экономически эффективный и предсказуемый бюджетный вариант для получения преимуществ производительности от наших новых выпусков и улучшений, когда и если они будут выпущены в течение срока действия их контрактов. В соответствии с нашими планами технического обслуживания клиенты имеют право на получение неуказанных обновлений, когда и если они доступны, а также на техническую поддержку. Мы признаем доход от технического обслуживания в течение срока действия соглашений, как правило, в течение одного года.   

Сделать бизнес: Представляет определенные подписки на облачные продукты. Основные продукты включают, но не ограничиваются ими, Assembly, Autodesk Build, BuildingConnected, Fusion 360 и ShotGrid. Некоторые продукты, такие как Fusion 360, включают в себя как дизайн, так и функциональность Make и классифицируются как Make.

Коэффициент удержания чистой выручки (NR3): Измеряет годовое изменение регулярного дохода для совокупности клиентов, существовавших год назад ("базовые клиенты").  Коэффициент удержания чистой выручки рассчитывается путем деления повторяющейся выручки за текущий квартал, относящейся к базовым клиентам, на общую сумму повторяющейся выручки за соответствующий квартал годичной давности. Повторяющаяся выручка основана на заявленной выручке в долларах США, и колебания, вызванные изменениями обменных курсов иностранных валют, а также прибыли или убытки от хеджирования, не были устранены. Повторяющиеся доходы, связанные с приобретенными компаниями, через год после приобретения учитываются как существующие клиенты до тех пор, пока такие данные не будут соответствовать методологии расчета. Это может привести к различиям в сравнении.

Прочая выручка: Состоит из выручки от консалтинга, обучения и других продуктов и услуг и признается по мере поставки продуктов и оказания услуг. 

Подписка на продукт: Предоставляет клиентам гибкий и экономичный способ доступа к программным средствам 3D-проектирования, инжиниринга и развлечений и управления ими. Наши подписки на продукты в настоящее время представляют собой гибрид настольных и облачных функций, который обеспечивает независимый от устройства, совместный рабочий процесс проектирования для дизайнеров и их заинтересованных сторон. 

Периодический доход: Состоит из дохода за период от наших традиционных планов обслуживания, наших предложений по подписке и некоторых других доходов. Это исключает доходы от подписки, связанные со сторонними продуктами. Повторяющийся доход, полученный при приобретении бизнеса, учитывается при учете общего количества подписок в наших системах и может привести к различиям в сравнении этого расчета.  

Оставшиеся обязательства по исполнению (RPO): сумма общих краткосрочных, долгосрочных и неоплаченных отложенных доходов. Текущие оставшиеся обязательства по исполнению обязательств - это сумма выручки, которую мы ожидаем признать в течение следующих двенадцати месяцев.  

Расходы: сумма затрат на выручку и операционных расходов.

План подписки: Включает в себя наши долгосрочные подписки на продукты, предложения облачных сервисов и EBA. Подписки представляют собой комбинированное гибридное предложение настольного программного обеспечения и облачных функций, которое обеспечивает независимый от устройства, совместный рабочий процесс проектирования для дизайнеров и их заинтересованных сторон. Благодаря подписке клиенты могут использовать наше программное обеспечение в любое время и в любом месте и получать доступ к последним обновлениям предыдущих версий. 

Доход от подписки: Включает в себя наши долгосрочные подписки на продукты с поддержкой облачных технологий, предложения облачных сервисов и гибкие EBA. 

Неоплаченная отсроченная выручка: Неоплаченная отсроченная выручка представляет собой указанные в контракте или зафиксированные заказы в рамках планов досрочного продления и многолетних счетов за подписку, услуги и обслуживание, для которых соответствующая отсроченная выручка не была признана. В соответствии с Кодификацией стандартов бухгалтерского учета FASB ("ASC") Раздел 606, нераспределенная отсроченная выручка не включается в качестве дебиторской задолженности или отложенной выручки в нашем Сокращенном консолидированном балансе. 

Настоящий пресс-релиз содержит заявления прогнозного характера, которые связаны с рисками и неопределенностями, включая цитаты руководства, заявления в пунктах раздела "Перспективы бизнеса" выше, заявления о наших краткосрочных и долгосрочных целях, заявления относительно наших стратегий, позиций на рынке и продуктов, результатов и результатов, а также все заявления, которые являются не исторические факты. Есть значительное число факторов, которые могут вызвать фактические результаты могут существенно отличаться от заявления в данном пресс-релизе, в том числе: в нашей стратегии по разработке и внедрению новых продуктов и услуг, подставив нам такие риски, как общества приемки заказчиком, затраты, связанные с дефектами товара, и большие расходы; последствия COVID-19 пандемией и соответствующих мер в области общественного здравоохранения; глобальные экономические и политические условия, в том числе цепочке сбоев, в результате инфляционного давления и условия найма; затраты и проблемы, связанные с стратегических приобретений и инвестиций; зависимость от международных доходов и операций, выставляя нас в значимых международных нормативных, экономической, интеллектуальной собственности, сборники, курс валют, налогообложение, политических и других рисков, включая риски, связанные с войной против Украины запустил России и выезда из России; неумение прогнозировать продление подписки ставок и их влияние на наши будущие доходы и операционные результаты; существующие и усилением конкуренции и быстро меняющихся технологических изменений; колебания на финансовых результатах нашей компании, ключевых метрик и других операционных показателей; выводя значительную часть чистой прибыли из небольшого количества решений, в том числе и наши, основанные на AutoCAD программные продукты и коллекций; неспособность успешно выполнять и управлять инициативами, чтобы перестроить или внедрять новые бизнес-инициативы и продаж, Чистая прибыль, Биллингс, прибыли, денежного потока, или подписок недостатков; социальные и этические вопросы использования искусственного интеллекта в наших предложениях; охрана аварий или других инцидентов нарушения целостности нашей или наших клиентов предложений, услуг, сведения или объекты интеллектуальной собственности; полагаться на третьих лиц, чтобы предоставить нам ряд оперативных и технических служб, а также программного обеспечения; наш сложнейшее программное обеспечение, которое может содержать невыявленные ошибки, дефекты и уязвимости; повышение нормативно фокус на конфиденциальность вопросы и расширения законодательства; государственного контроля над экспортом и импортом, что может ослабить нашу способность конкурировать на международных рынках или подвергать нас ответственности, если мы нарушаем контроля; защиты нашей интеллектуальной собственности, прав и нарушения прав интеллектуальной собственности претензий от других лиц; государственные закупки процесса; колебания валютных курсов; наши обязательства по обслуживанию долга; и наш инвестиционный портфель, состоящий из различных инвестиционных инструментов, которые подвержены тенденции динамики процентных ставок, волатильности на рынке и другими экономическими факторами. Наши оценки в отношении налоговой ставки основаны на действующем налоговом законодательстве, включая текущие толкования Закона о сокращении налогов и создании рабочих мест, и могут быть изменены в результате изменения толкования этого Закона, а также дополнительного законодательства и руководящих указаний в отношении этого Закона.

Дополнительная информация о потенциальных факторах, которые могут повлиять на финансовые результаты Autodesk, включена в Форму 10-K Autodesk и последующие формы 10-Q, которые хранятся в Комиссии по ценным бумагам и биржам США. Autodesk отказывается от каких-либо обязательств по обновлению предоставленных прогнозных заявлений, чтобы отразить события, которые происходят, или обстоятельства, которые существуют после даты, на которую они были сделаны.

Autodesk меняет то, как устроен и устроен мир. Наши технологии охватывают архитектуру, инжиниринг, строительство, дизайн продукции, производство, средства массовой информации и развлечения, позволяя новаторам во всем мире решать большие и малые задачи. От более экологичных зданий до более умных продуктов и более завораживающих блокбастеров, программное обеспечение Autodesk помогает нашим клиентам проектировать и создавать лучший мир для всех. Для получения дополнительной информации посетите сайт Autodesk.com или следуйте @Autodesk.

Autodesk использует своих инвесторов.Autodesk.com веб-сайт как средство раскрытия существенной непубличной информации, объявления о предстоящих конференциях инвесторов и для выполнения своих обязательств по раскрытию информации в соответствии с Положением FD. Соответственно, вам следует следить за нашим веб-сайтом по связям с инвесторами в дополнение к нашим пресс-релизам, заявкам SEC и публичным конференциям и веб-трансляциям.

Autodesk, AutoCAD, AutoCAD LT, BIM 360 и Fusion 360 являются зарегистрированными товарными знаками Autodesk, Inc. и/или ее дочерних компаний и/или филиалов в США и/или других странах. Все остальные торговые марки, названия продуктов или товарные знаки принадлежат их соответствующим владельцам. Autodesk оставляет за собой право изменять предложения продуктов и услуг, а также спецификации и цены в любое время без предварительного уведомления и не несет ответственности за типографские или графические ошибки, которые могут появиться в этом документе.

© 2022 Autodesk, Inc. Все права защищены.

Autodesk, Inc.




Condensed Consolidated Statements of Operations

(In millions, except per share data) (1)









Three Months Ended April 30,


2022


2021


(Unaudited)

Net revenue (2):




     Subscription

$            1,089


$                927

     Maintenance

18


19

         Total subscription and maintenance revenue

1,107


946

     Other

63


43

          Total net revenue

1,170


989

Cost of revenue:




     Cost of subscription and maintenance revenue

84


68

     Cost of other revenue

19


14

     Amortization of developed technologies

14


10

          Total cost of revenue

117


92

Gross profit

1,053


897

Operating expenses:




     Marketing and sales

419


377

     Research and development

289


266

     General and administrative

120


112

     Amortization of purchased intangibles

11


8

          Total operating expenses

839


763

Income from operations

214


134

Interest and other expense, net

(19)


(3)

Income before income taxes

195


131

(Provision) benefit for income taxes

(49)


25

Net income

$              146


$                156

Basic net income per share

$              0.67


$               0.71

Diluted net income per share

$              0.67


$              0.70

Weighted average shares used in computing basic net income per share

217


220

Weighted average shares used in computing diluted net income per share

219


222

____________________ 

(1) In the current fiscal year, the Company changed its rounding presentation to the nearest whole number in millions of reported amounts, except per share data or as otherwise noted. The current year rounding presentation has been applied to all prior year amounts presented and, in certain circumstances, this change may adjust previously reported balances.


(2) During the quarter ended April 30, 2022, the Company changed its presentation of certain subscription plan offerings in our Condensed Consolidated Statement of Operations. Revenue from subscription plan offerings in which the customer does not utilize the cloud functionality or that do not incorporate substantial cloud functionality, previously recorded in "Subscription" have been reclassified to "Other" and "Maintenance," as applicable.  Accordingly, prior period amounts have been reclassified to conform to the current period presentation, in all material respects. These reclassifications did not impact total net revenue.

Autodesk, Inc.




Condensed Consolidated Balance Sheets




(In millions) (1)









April 30, 2022


January 31, 2022


(Unaudited)

ASSETS




Current assets:




     Cash and cash equivalents

$                   1,518


$                      1,528

     Marketable securities

67


236

     Accounts receivable, net

384


716

     Prepaid expenses and other current assets

389


284

Total current assets

2,358


2,764

Long-term marketable securities

39


45

Computer equipment, software, furniture and leasehold improvements, net

162


162

Operating lease right-of-use assets

303


305

Intangible assets, net

479


494

Goodwill

3,642


3,604

Deferred income taxes, net

759


741

Long-term other assets

519


492

Total assets

$                    8,261


$                     8,607

LIABILITIES AND STOCKHOLDERS' EQUITY




Current liabilities:




     Accounts payable

$                        135


$                          121

     Accrued compensation

220


341

     Accrued income taxes

50


30

     Deferred revenue

2,809


2,863

     Operating lease liabilities

77


87

     Current portion of long-term notes payable, net

350


350

     Other accrued liabilities

160


217

Total current liabilities

3,801


4,009

Long-term deferred revenue

940


927

Long-term operating lease liabilities

347


346

Long-term income taxes payable

37


20

Long-term deferred income taxes

34


29

Long-term notes payable, net

2,279


2,278

Long-term other liabilities

142


149

Stockholders' equity:




     Common stock and additional paid-in capital

2,972


2,923

     Accumulated other comprehensive loss

(148)


(124)

     Accumulated deficit

(2,143)


(1,950)

Total stockholders' equity

681


849

Total liabilities and stockholders' equity

$                    8,261


$                     8,607

____________________ 

(1) In the current fiscal year, the Company changed its rounding presentation to the nearest whole number in millions of reported amounts, except per share data or as otherwise noted. The current year rounding presentation has been applied to all prior year amounts presented and, in certain circumstances, this change may adjust previously reported balances.

Autodesk, Inc.




Condensed Consolidated Statements of Cash Flows




(In millions) (1)









Three Months Ended April 30,


2022


2021


(Unaudited)

Operating activities:




     Net income

$                 146


$              156

     Adjustments to reconcile net income to net cash provided by operating activities:




          Depreciation, amortization and accretion

38


33

          Stock-based compensation expense

152


116

          Deferred income taxes

(22)


19

          Lease-related asset impairments

2


          Other

27


19

     Changes in operating assets and liabilities, net of business combinations:




          Accounts receivable

332


324

          Prepaid expenses and other assets

(23)


(126)

          Accounts payable and other liabilities

(218)


(182)

          Deferred revenue

(38)


(28)

          Accrued income taxes

38


5

Net cash provided by operating activities

434


336

Investing activities:




          Purchases of marketable securities

(29)


          Sales and maturities of marketable securities

202


4

          Capital expenditures

(12)


(20)

          Purchases of developed technologies

(4)


(1)

          Business combinations, net of cash acquired

(96)


(1,032)

          Other investing activities

(30)


9

Net cash provided by (used in) investing activities

31


(1,040)

Financing activities:




          Proceeds from issuance of common stock, net of issuance costs

67


64

          Taxes paid related to net share settlement of equity awards

(70)


(55)

          Repurchases of common stock

(457)


(151)

Net cash used in financing activities

(460)


(142)

Effect of exchange rate changes on cash and cash equivalents

(15)


(3)

Net decrease in cash and cash equivalents

(10)


(849)

Cash and cash equivalents at beginning of period

1,528


1,772

Cash and cash equivalents at end of period

$              1,518


$            923





Supplemental cash flow disclosure:




Non-cash financing activities:




     Fair value of common stock issued related to business combination

$                    10


$                   3

____________________

(1) In the current fiscal year, the Company changed its rounding presentation to the nearest whole number in millions of reported amounts, except per share data or as otherwise noted. The current year rounding presentation has been applied to all prior year amounts presented and, in certain circumstances, this change may adjust previously reported balances.

Autodesk, Inc.




Reconciliation of GAAP financial measures to non-GAAP financial measures

(In millions, except per share data) (2)





To supplement our condensed consolidated financial statements presented on a GAAP basis, we provide investors with certain non-GAAP measures including non-GAAP operating margin, non-GAAP income from operations, non-GAAP diluted net income per share, and free cash flow. For our internal budgeting and resource allocation process and as a means to evaluate period-to-period comparisons, we use non-GAAP measures to supplement our condensed consolidated financial statements presented on a GAAP basis. These non-GAAP measures do not include certain items that may have a material impact upon our future reported financial results. We use non-GAAP measures in making operating decisions because we believe those measures provide meaningful supplemental information regarding our earning potential and performance for management by excluding certain expenses and charges that may not be indicative of our core business operating results.  For the reasons set forth below, we believe these non-GAAP financial measures are useful to investors both because (1) they allow for greater transparency with respect to key metrics used by management in its financial and operational decision-making and (2) they are used by our institutional investors and the analyst community to help them analyze the health of our business. This allows investors and others to better understand and evaluate our operating results and future prospects in the same manner as management, compare financial results across accounting periods and to those of peer companies and to better understand the long-term performance of our core business. We also use some of these measures for purposes of determining company-wide incentive compensation.

There are limitations in using non-GAAP financial measures because non-GAAP financial measures are not prepared in accordance with GAAP and may be different from non-GAAP financial measures used by other companies. The non-GAAP financial measures are limited in value because they exclude certain items that may have a material impact upon our reported financial results. In addition, they are subject to inherent limitations as they reflect the exercise of judgments by management about which charges are excluded from the non-GAAP financial measures. We compensate for these limitations by analyzing current and future results on a GAAP basis as well as a non-GAAP basis and also by providing GAAP measures in our public disclosures. The presentation of non-GAAP financial information is meant to be considered in addition to, not as a substitute for or in isolation from, the directly comparable financial measures prepared in accordance with GAAP. We urge investors to review the reconciliation of our non-GAAP financial measures to the comparable GAAP financial measures included in this presentation, and not to rely on any single financial measure to evaluate our business.





The following table shows Autodesk's GAAP results reconciled to non-GAAP results included in this release.




Three Months Ended April 30,


2022


2021


(Unaudited)

GAAP operating margin

18  %


14  %

Stock-based compensation expense

13  %


12 %

Amortization of developed technologies

1 %


1 %

Amortization of purchased intangibles

1 %


1 %

Acquisition-related costs

— %


1 %

Non-GAAP operating margin (1)

34 %


28  %





GAAP income from operations

$                  214


$            134

Stock-based compensation expense

155


116

Amortization of developed technologies

13


10

Amortization of purchased intangibles

11


8

Acquisition-related costs

3


12

Lease-related asset impairments and other charges

1


Non-GAAP income from operations

$                 397


$           280





GAAP diluted net income per share

$               0.67


$         0.70

Stock-based compensation expense

0.71


0.52

Amortization of developed technologies

0.06


0.05

Amortization of purchased intangibles

0.05


0.04

Acquisition-related costs

0.01


0.05

Gain on strategic investments and dispositions, net


(0.02)

Discrete GAAP tax items

(0.04)


(0.25)

Income tax effect of non-GAAP adjustments

(0.03)


(0.06)

Non-GAAP diluted net income per share

$                1.43


$          1.03





Net cash provided by operating activities

$                434


$           336

Capital expenditures

(12)


(20)

Free cash flow

$                 422


$            316

____________________

(1)  Totals may not sum due to rounding.

(2)  In the current fiscal year, the Company changed its rounding presentation to the nearest whole number in millions of reported amounts, except per share data or as otherwise noted. The current year rounding presentation has been applied to all prior year amounts presented and, in certain circumstances, this change may adjust previously reported balances.

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