8-KEarnings & ResultsRegulation FDExhibits & Filings

Autodesk, Inc. 8-K Report, Financial Results (Feb 28, 2019)

Filed February 28, 2019For Securities:ADSK

Summary

Autodesk, Inc. (ADSK) filed an 8-K on February 28, 2019, to report its financial results for the fourth quarter and fiscal year ended January 31, 2019. The filing primarily incorporates by reference a press release and prepared remarks that provide detailed financial information. A key aspect of this report is Autodesk's emphasis on non-GAAP financial measures, which the company utilizes alongside GAAP results to offer investors a more granular view of its operational performance. These non-GAAP measures exclude items such as stock-based compensation, amortization of intangibles, CEO transition costs, goodwill impairment, acquisition-related costs, restructuring charges, gains/losses on investments, valuation allowances on deferred tax assets, and discrete tax items. Autodesk explains that its use of non-GAAP measures is intended to provide greater transparency into the metrics management uses for decision-making, budgeting, and performance evaluation. The company believes these measures offer meaningful supplemental information for assessing earning potential by excluding items that may not be indicative of core business operations. Investors are encouraged to review these non-GAAP figures to better understand the company's performance and prospects, compare results across periods and with peers, and analyze the health of its core business. However, the company strongly advises investors to also review the GAAP financial measures and the reconciliations provided, as non-GAAP measures have limitations and may differ from those used by other companies.

Key Highlights

  • 1Autodesk reported its Q4 and full fiscal year 2019 financial results on February 28, 2019.
  • 2The 8-K filing incorporates by reference a press release (Exhibit 99.1) and prepared remarks (Exhibit 99.2) containing the financial results.
  • 3The company provides and emphasizes non-GAAP financial measures alongside GAAP results.
  • 4Non-GAAP measures exclude items like stock-based compensation, amortization of intangibles, CEO transition costs, and acquisition-related expenses.
  • 5Autodesk uses non-GAAP measures to offer insights into core business performance and for internal management decision-making.
  • 6Investors are encouraged to review non-GAAP results for better comparability and understanding of operational health.
  • 7The filing explicitly states that the information furnished is not deemed 'filed' for Section 18 of the Exchange Act or incorporated into other filings unless expressly stated.

Frequently Asked Questions

The primary purpose of this 8-K filing is to report Autodesk's financial results for the fourth quarter and the full fiscal year ended January 31, 2019, by furnishing a press release and prepared remarks that contain this information.

Autodesk provides non-GAAP financial measures to offer investors a supplemental view of its operational performance. These measures exclude certain items (like stock-based compensation, amortization, and acquisition costs) that management believes are not indicative of the company's core business, allowing for better comparison across periods and with peers.

Key items excluded from Autodesk's non-GAAP measures include stock-based compensation expenses, amortization of developed technologies and purchased intangibles, CEO transition costs, goodwill impairment, acquisition-related costs, restructuring and other exit costs, and gains or losses on strategic investments and dispositions.

No, Autodesk strongly advises investors not to rely solely on non-GAAP financial measures. The company encourages investors to review the reconciliation of non-GAAP measures to the comparable GAAP financial measures and to consider both GAAP and non-GAAP results, acknowledging the limitations of non-GAAP reporting.