8-KEarnings & ResultsExhibits & Filings

Autodesk, Inc. 8-K Report, Financial Results (May 24, 2018)

Filed May 24, 2018For Securities:ADSK

Summary

Autodesk, Inc. filed an 8-K on May 24, 2018, to report its financial results for the first quarter ended April 30, 2018. The report primarily furnishes a press release and prepared remarks (Exhibits 99.1 and 99.2) detailing these results. A key aspect of the filing is Autodesk's emphasis on non-GAAP financial measures, which the company uses internally and provides to investors to offer a clearer view of its core business operations. These non-GAAP measures exclude items such as 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, along with their tax effects. The company asserts these adjustments help investors better understand performance trends and compare results across periods and with peers. Investors are encouraged to review the reconciliation of these non-GAAP figures to GAAP measures, as provided in the furnished exhibits, to gain a comprehensive understanding of Autodesk's financial health. While the 8-K itself does not provide specific Q1 2018 financial figures, it directs stakeholders to the press release and prepared remarks for that detailed information. The company's use of non-GAAP reporting highlights its focus on operational efficiency and profitability, aiming to provide a more consistent view of its underlying business performance beyond one-time or non-cash charges.

Key Highlights

  • 1Autodesk filed an 8-K on May 24, 2018, to report its Q1 2018 financial results via furnished press release and prepared remarks.
  • 2The filing extensively explains Autodesk's use of non-GAAP financial measures to present its core business performance.
  • 3Non-GAAP measures exclude specific items like stock-based compensation, amortization of intangibles, CEO transition costs, and restructuring charges.
  • 4Autodesk uses non-GAAP metrics for internal decision-making, budgeting, and to offer investors transparency into management's view of earning potential.
  • 5The company believes non-GAAP measures facilitate meaningful comparisons across accounting periods and with peer companies.
  • 6Investors are urged to review the reconciliation of non-GAAP to GAAP financial measures, which is incorporated by reference.
  • 7The report emphasizes that non-GAAP measures are supplemental and should not be considered a substitute for GAAP results.

Frequently Asked Questions

The primary purpose of this 8-K filing is to officially report and furnish Autodesk's financial results for the first quarter ended April 30, 2018, through a press release and prepared remarks.

Autodesk uses non-GAAP financial measures to provide investors with supplemental information that management believes offers greater transparency into the company's core business operating results and earning potential. These measures exclude certain expenses and charges that may not be indicative of ongoing operational performance, such as stock-based compensation, amortization of intangibles, and one-time transition or restructuring costs.

No, the filing explicitly states that non-GAAP financial measures are presented in addition to, not as a substitute for, GAAP measures. Autodesk urges investors to review the reconciliation of its non-GAAP measures to the comparable GAAP financial measures included in the furnished exhibits and not to rely on any single financial measure to evaluate its business.

The actual Q1 2018 financial results are detailed in the press release (Exhibit 99.1) and prepared remarks (Exhibit 99.2) that are furnished with this 8-K filing. These documents should be reviewed for specific revenue, earnings, and other financial performance data.