8-KEarnings & ResultsExhibits & Filings

Autodesk, Inc. 8-K Report, Financial Results (Aug 24, 2017)

Filed August 24, 2017For Securities:ADSK

Summary

Autodesk, Inc. (ADSK) filed an 8-K on August 24, 2017, to report its financial results for the second quarter ended July 31, 2017. The filing primarily serves to furnish a press release and prepared remarks detailing these results, which were released on August 24, 2017. Investors should note that the company, in addition to GAAP reporting, provides and relies upon non-GAAP financial measures for internal decision-making and for evaluating performance. These non-GAAP measures are presented to offer greater transparency into key metrics used by management and are also utilized by institutional investors and analysts to assess the company's health and core business performance. The company outlines specific items excluded from its non-GAAP financial measures, including stock-based compensation, amortization of developed technologies and intangibles, CEO transition costs, goodwill impairment, restructuring charges, gains/losses on strategic investments, valuation allowance on deferred tax assets, and discrete tax items. Autodesk emphasizes that these non-GAAP measures are supplemental and should be considered alongside GAAP results, urging investors to review the provided reconciliations. The primary purpose of this 8-K is informational, providing investors with access to the company's latest earnings report and management's commentary on its financial condition and results of operations.

Key Highlights

  • 1Autodesk reported its Q2 2017 financial results on August 24, 2017, via an 8-K filing.
  • 2The filing furnished a press release (Exhibit 99.1) and prepared remarks (Exhibit 99.2) detailing the Q2 results.
  • 3The company utilizes and provides non-GAAP financial measures alongside GAAP measures.
  • 4Non-GAAP measures are used internally for budgeting, resource allocation, and performance evaluation.
  • 5Key exclusions from non-GAAP measures include stock-based compensation, amortization, CEO transition costs, restructuring charges, and certain tax items.
  • 6Autodesk emphasizes that non-GAAP measures are supplemental and should be reviewed with GAAP results and reconciliations.

Frequently Asked Questions

The main purpose of this 8-K filing is to formally report Autodesk's financial results for the second quarter ended July 31, 2017, by furnishing the accompanying press release and prepared remarks that were issued on August 24, 2017. It provides investors with official access to the company's performance update for the quarter.

Non-GAAP financial measures are financial metrics that exclude certain items from the standard GAAP (Generally Accepted Accounting Principles) reporting. Autodesk uses them to supplement GAAP results because management believes they provide a more meaningful view of the company's core business operations and earning potential by excluding items like stock-based compensation, amortization, and transition costs that can fluctuate and may not be indicative of ongoing performance. They are also used to aid in comparisons across periods and with peer companies.

Autodesk excludes several items from its non-GAAP financial measures. These include, but are not limited to, stock-based compensation expenses, amortization of developed technologies and purchased intangibles, CEO transition costs, restructuring charges, gains or losses on strategic investments and dispositions, goodwill impairment, and certain discrete tax items. The company provides a detailed list and rationale for these exclusions in the filing.

No, Autodesk strongly advises investors not to rely solely on non-GAAP financial measures. The filing explicitly states that these non-GAAP measures are supplemental and should be considered in addition to, not as a substitute for, the comparable GAAP financial measures. Investors are urged to review the reconciliation of non-GAAP to GAAP measures provided by the company to fully understand the financial performance.