8-KEarnings & ResultsExhibits & Filings

Autodesk, Inc. 8-K Report, Financial Results (Aug 25, 2016)

Filed August 25, 2016For Securities:ADSK

Summary

Autodesk, Inc. (ADSK) filed an 8-K on August 25, 2016, primarily to furnish its second-quarter 2016 financial results. The report highlights that the company is increasingly relying on non-GAAP financial measures to provide investors with a clearer view of its core business performance. These non-GAAP measures exclude items such as stock-based compensation, amortization of intangibles, goodwill impairment, restructuring charges, and gains/losses on strategic investments. Autodesk emphasizes that these non-GAAP figures are used internally for decision-making and are intended to offer greater transparency and comparability for investors, analysts, and institutional investors. The company also provided its press release and prepared remarks, which contain these financial results and further details on their non-GAAP reporting. Investors are urged to review the reconciliation between GAAP and non-GAAP measures to fully understand the company's financial health and avoid relying solely on non-GAAP figures.

Key Highlights

  • 1Autodesk reported its financial results for the second quarter ended July 31, 2016, via an 8-K filing.
  • 2The company furnished its press release (Exhibit 99.1) and prepared remarks (Exhibit 99.2) containing these results.
  • 3Autodesk places significant emphasis on non-GAAP financial measures, including non-GAAP net earnings and billings, for internal assessment and investor communication.
  • 4Key exclusions from non-GAAP measures include stock-based compensation, amortization of developed technologies and purchased intangibles, goodwill impairment, and restructuring charges.
  • 5The rationale for using non-GAAP measures is to provide a clearer view of core business operations, facilitate period-to-period comparisons, and align with how management and the investment community evaluate performance.
  • 6The filing explicitly states that the furnished exhibits are not deemed 'filed' for legal purposes unless specifically incorporated by reference into other filings.
  • 7Investors are strongly advised to review the reconciliation of non-GAAP measures to their GAAP equivalents provided within the furnished documents.

Frequently Asked Questions

The main purpose of this 8-K filing is to officially report Autodesk's financial results for the second quarter of fiscal year 2016, which ended on July 31, 2016. It includes furnishing the press release and prepared remarks that contain these financial details.

Autodesk uses non-GAAP financial measures to supplement its GAAP financial statements. The company believes these measures offer greater transparency into its core business operations, exclude certain non-cash or irregular items (like stock-based compensation, amortization, and restructuring charges), and allow for better period-to-period comparisons, aligning with how management and investors evaluate performance.

Autodesk typically excludes items such as stock-based compensation expenses, amortization of developed technologies and purchased intangibles, goodwill impairment, restructuring charges, gains/losses on strategic investments, and certain discrete tax items when calculating its non-GAAP results.

No, investors should not rely solely on non-GAAP financial figures. The filing explicitly urges investors to review the reconciliation between the non-GAAP and comparable GAAP financial measures. Non-GAAP measures have limitations and are meant to be considered in addition to, not as a substitute for, GAAP measures.