8-KEarnings & ResultsRegulation FDExhibits & Filings

Autodesk, Inc. 8-K Report, Financial Results (May 23, 2019)

Filed May 23, 2019For Securities:ADSK

Summary

Autodesk, Inc. filed an 8-K on May 23, 2019, to report its first-quarter financial results for the period ending April 30, 2019. The filing primarily consists of a press release furnishing its quarterly results, along with details regarding the company's use of non-GAAP financial measures. Investors should note that the company utilizes non-GAAP figures such as net earnings and net earnings per diluted share to provide a more nuanced view of its operational performance, excluding items like stock-based compensation, amortization, CEO transition costs, goodwill impairment, acquisition-related costs, restructuring charges, and gains/losses on strategic investments. Autodesk emphasizes that these non-GAAP measures are supplemental and should be considered alongside GAAP results for a comprehensive understanding. The company also stated that supplemental investor materials were posted on its investor relations website, which it intends to use for disclosing material non-public information. For investors, the key takeaway is Autodesk's continued reliance on non-GAAP reporting to highlight its core business profitability, which excludes significant one-time or non-cash expenses. While this provides a clearer picture of operational trends, it's crucial for investors to review the reconciliations provided to fully grasp the impact of these adjustments on the reported figures. The absence of specific financial figures in the 8-K itself, beyond the announcement of the press release, means investors must refer to the furnished press release (Exhibit 99.1) for detailed performance metrics. The company's commitment to transparency through its investor website for Regulation FD disclosures is also a notable point.

Key Highlights

  • 1Autodesk reported its Q1 2019 financial results on May 23, 2019, via an 8-K filing.
  • 2The filing includes a press release detailing the company's financial performance for the quarter ended April 30, 2019.
  • 3Autodesk extensively uses and explains its non-GAAP financial measures, excluding items such as stock-based compensation, amortization, and restructuring costs.
  • 4The company believes non-GAAP measures offer greater transparency into core business performance and aid comparability.
  • 5Investors are urged to review the reconciliation between GAAP and non-GAAP financial measures provided in the furnished press release.
  • 6Supplemental investor materials were made available on Autodesk's investor relations website.
  • 7The 8-K itself does not contain detailed financial statements but references the furnished press release as the primary source of Q1 2019 results.

Frequently Asked Questions

The main purpose of this 8-K filing is to report Autodesk's financial results for the first quarter ended April 30, 2019, which were released via a press release furnished as an exhibit. It also details the company's use of non-GAAP financial measures.

The specific financial results, including key metrics for the first quarter ended April 30, 2019, are contained within the press release filed as Exhibit 99.1 to this 8-K. Investors need to refer to that exhibit for detailed financial figures.

Autodesk uses non-GAAP measures to provide investors with a view of its operational performance that excludes certain items management believes are not indicative of the company's core business. Key exclusions mentioned include stock-based compensation, amortization of developed technologies and intangibles, CEO transition costs, goodwill impairment, acquisition-related costs, restructuring charges, and gains/losses on strategic investments.

The filing states that supplemental investor materials were posted on Autodesk's investor relations website. The company intends to use this website for disclosing material non-public information and for complying with its Regulation FD disclosure obligations, making it a key channel for ongoing investor communication.