8-KEarnings & ResultsRegulation FDExhibits & Filings

Autodesk, Inc. 8-K Report, Financial Results (Nov 26, 2019)

Filed November 26, 2019For Securities:ADSK

Summary

Autodesk, Inc. filed an 8-K on November 26, 2019, to report its financial results for the third quarter ended October 31, 2019. The filing primarily furnished a press release containing these results and detailed Autodesk's use of non-GAAP financial measures. The company emphasizes that these non-GAAP measures are used internally for decision-making and offer a supplemental view for investors to better understand operational performance by excluding items such as stock-based compensation, amortization, CEO transition costs, goodwill impairment, acquisition-related costs, restructuring charges, and gains/losses on strategic investments and dispositions. Investors are encouraged to review the GAAP results alongside the non-GAAP measures and to consult the reconciliation provided in the accompanying press release. The company also highlighted its use of its investor relations website (investors.autodesk.com) as a channel for disclosing material non-public information and complying with Regulation FD, urging investors to monitor this platform.

Key Highlights

  • 1Autodesk announced its third quarter fiscal year 2020 (ending October 31, 2019) financial results.
  • 2The company furnished a press release detailing its Q3 financial performance.
  • 3Autodesk provided extensive detail on its use of non-GAAP financial measures, outlining specific adjustments made.
  • 4Key exclusions from non-GAAP measures include stock-based compensation, amortization of intangibles, CEO transition costs, goodwill impairment, acquisition costs, and restructuring charges.
  • 5The company stressed that non-GAAP measures are supplemental and should be viewed in conjunction with GAAP results, urging investors to review provided reconciliations.
  • 6Autodesk directs investors to its investor relations website for further material disclosures and compliance with Regulation FD.

Frequently Asked Questions

The primary purpose of this 8-K filing is to report Autodesk's financial results for the third quarter ended October 31, 2019, by furnishing the press release containing these results. It also elaborates on the company's methodology and rationale for using non-GAAP financial measures.

Autodesk excludes several items to arrive at its non-GAAP financial measures, including stock-based compensation, amortization of developed technologies and purchased intangibles, CEO transition costs, goodwill impairment, acquisition-related costs, restructuring and other exit costs, losses/gains on strategic investments and dispositions, establishment of a valuation allowance on certain deferred tax assets, discrete tax items, and the income tax effects on the difference between GAAP and non-GAAP costs.

Autodesk presents non-GAAP measures to provide supplemental insights into its operational performance and core business results. However, the company strongly advises investors to consider these measures alongside, not as a substitute for, GAAP financial results. Investors are encouraged to review the reconciliation tables provided in the press release to understand the adjustments made and the impact on the financial figures.

Autodesk utilizes its investor relations website (investors.autodesk.com) as a platform for disclosing material non-public information, announcing investor events, and fulfilling its disclosure obligations under Regulation FD. Investors are encouraged to monitor this website in addition to traditional SEC filings and press releases.