8-KEarnings & ResultsExhibits & Filings

Autodesk, Inc. 8-K Report, Financial Results (Mar 6, 2018)

Filed March 6, 2018For Securities:ADSK

Summary

This 8-K filing by Autodesk, Inc. (ADSK) on March 6, 2018, announces the release of their fourth quarter and fiscal year 2018 financial results. The report primarily focuses on providing supplementary non-GAAP financial measures to offer investors a clearer view of the company's core business performance. Autodesk utilizes these non-GAAP measures, which exclude items like stock-based compensation, amortization of intangibles, CEO transition costs, goodwill impairment, restructuring charges, gains/losses on strategic investments, valuation allowances on deferred tax assets, and discrete tax items, to aid in internal decision-making and provide greater transparency for investors. The company emphasizes that these non-GAAP measures are intended to complement, not replace, GAAP financial statements. They are presented to allow for better period-to-period comparisons, assess earning potential by excluding non-recurring or non-cash items, and align with how institutional investors and analysts evaluate the business. Autodesk encourages investors to review the reconciliations between GAAP and non-GAAP figures provided in the accompanying press release and prepared remarks for a comprehensive understanding of their financial health.

Key Highlights

  • 1Autodesk reported its Q4 and full fiscal year 2018 financial results on March 6, 2018.
  • 2The filing includes a press release and prepared remarks as exhibits, furnishing the details of the results.
  • 3Autodesk emphasizes the use of non-GAAP financial measures to supplement GAAP reporting.
  • 4Non-GAAP measures are used internally for budgeting, resource allocation, and performance evaluation.
  • 5Key exclusions from non-GAAP measures include stock-based compensation, amortization of intangibles, CEO transition costs, and restructuring charges.
  • 6The company believes these non-GAAP measures provide investors with greater transparency into core business performance and comparability.
  • 7Investors are urged to review reconciliations between GAAP and non-GAAP measures, as provided in the exhibits.

Frequently Asked Questions

The main purpose of this 8-K filing is to announce Autodesk's financial results for the fourth quarter and the full fiscal year ended January 31, 2018. It also provides context and supplementary information, particularly regarding the company's use of non-GAAP financial measures.

Autodesk provides non-GAAP financial measures to offer investors a more transparent view of the company's core business performance. These measures exclude certain items that may not be indicative of ongoing operations, such as stock-based compensation, amortization of intangibles, and restructuring costs, allowing for better period-to-period comparisons and alignment with how management and analysts evaluate the business.

Expenses excluded from Autodesk's non-GAAP measures include, but are not limited to: stock-based compensation, amortization of developed technologies and purchased intangibles, CEO transition costs, goodwill impairment, restructuring charges, gains/losses on strategic investments, valuation allowance on net deferred tax assets, and discrete tax items.

No, Autodesk strongly advises investors not to rely on any single financial measure. The non-GAAP measures are presented to supplement, not replace, GAAP financial statements. Investors are encouraged to review the reconciliation of non-GAAP financial measures to the comparable GAAP financial measures provided in the accompanying exhibits for a complete understanding of the company's financial results.