8-KEarnings & ResultsExhibits & Filings

Autodesk, Inc. 8-K Report, Financial Results (Nov 19, 2015)

Filed November 19, 2015For Securities:ADSK

Summary

Autodesk, Inc. (ADSK) filed an 8-K on November 19, 2015, to report its financial results for the third quarter ended October 31, 2015. The filing primarily comprises a press release and prepared remarks, which are furnished as exhibits. A key takeaway for investors is Autodesk's use of non-GAAP financial measures to provide supplemental insights into its performance. The company emphasizes that these non-GAAP measures are used internally for decision-making and are provided to investors to enhance transparency and facilitate comparisons across periods and with peers, aiming to better reflect the core business's earning potential. The report details various items excluded from GAAP figures to arrive at non-GAAP results, including stock-based compensation, amortization of intangibles, goodwill impairment, restructuring charges, gains/losses on strategic investments, and certain tax adjustments. While these non-GAAP metrics are highlighted as useful for analyzing underlying business health, the company strongly advises investors to review the GAAP figures and the reconciliation provided, cautioning against relying solely on non-GAAP measures due to potential differences in methodology and the exclusion of material items.

Key Highlights

  • 1Autodesk reported its Q3 2015 financial results via an 8-K filing on November 19, 2015.
  • 2The filing includes a press release and prepared remarks detailing the company's financial performance.
  • 3Autodesk utilizes non-GAAP financial measures (e.g., non-GAAP net earnings, billings) to supplement GAAP results.
  • 4The company explains its rationale for using non-GAAP measures, citing enhanced transparency and comparability for investors.
  • 5Key exclusions from GAAP to arrive at non-GAAP figures include stock-based compensation, amortization of intangibles, and restructuring charges.
  • 6Autodesk explicitly states that non-GAAP measures should be considered alongside GAAP results and not as a substitute.
  • 7Investors are urged to review the reconciliation between GAAP and non-GAAP measures provided in the filing.

Frequently Asked Questions

The main purpose of this 8-K filing is to publicly report Autodesk, Inc.'s financial results for the third quarter ended October 31, 2015. It includes a press release and prepared remarks that provide details on the company's financial condition and operations.

Non-GAAP financial measures are financial metrics that exclude certain items from the standard GAAP (Generally Accepted Accounting Principles) reporting. Autodesk uses them to provide investors with supplemental information that management believes better reflects the company's core business performance and earning potential. They exclude items like stock-based compensation, amortization of intangibles, and restructuring charges, which are considered non-recurring or non-cash, to facilitate clearer period-to-period comparisons and analysis.

Autodesk excludes several items from its GAAP results to arrive at non-GAAP figures. These include, but are not limited to, stock-based compensation expenses, amortization of developed technologies and purchased intangibles, goodwill impairment charges, restructuring charges, gains or losses on strategic investments, and certain tax adjustments (like the establishment of valuation allowances on deferred tax assets and discrete tax items).

Investors should interpret non-GAAP measures as supplemental information to the primary GAAP financial statements. Autodesk itself stresses that these measures are not prepared in accordance with GAAP, may differ from those used by other companies, and exclude items that can materially impact reported results. The company strongly advises investors to review the reconciliation of non-GAAP to GAAP measures and not rely solely on any single financial measure for evaluating the business.