8-KEarnings & ResultsRegulation FDExhibits & Filings

Autodesk, Inc. 8-K Report, Financial Results (Nov 24, 2020)

Filed November 24, 2020For Securities:ADSK

Summary

This 8-K filing from Autodesk (ADSK) dated November 24, 2020, announces the company's financial results for the third quarter ended October 31, 2020. The report primarily furnishes a press release containing these results, alongside detailed explanations of key performance metrics and non-GAAP financial measures used by the company. Investors are encouraged to review these supplemental materials for a comprehensive understanding of Autodesk's performance and operational health. The company emphasizes its use of metrics such as billings, recurring revenue, net revenue retention rate (NR3), and subscriptions to monitor the strength and long-term health of its recurring business. Furthermore, Autodesk provides non-GAAP financial measures, explaining that these are used to offer greater transparency and comparability to management's financial and operational decision-making, aiding institutional investors and analysts in their evaluations. The filing outlines specific items excluded from non-GAAP measures, including stock-based compensation, amortization, CEO transition costs, goodwill impairment, restructuring costs, acquisition-related costs, gains/losses on investments, and discrete tax items, along with their justifications.

Key Highlights

  • 1Autodesk released its Q3 2020 financial results on November 24, 2020, via a furnished press release.
  • 2The company highlighted key performance metrics like billings, recurring revenue, NR3, and subscriptions to assess business strength.
  • 3Autodesk utilizes non-GAAP financial measures for enhanced transparency and comparability, as used by management and analysts.
  • 4Specific exclusions from non-GAAP measures include stock-based compensation, amortization, CEO transition costs, and acquisition-related expenses.
  • 5The company also excludes goodwill impairment, restructuring costs, gains/losses on strategic investments, and discrete tax items from non-GAAP reporting.
  • 6Autodesk directs investors to its investor relations website for supplemental investor materials and to monitor disclosures.

Frequently Asked Questions

The main purpose of this 8-K filing is to announce and furnish Autodesk's financial results for the third quarter ended October 31, 2020, as detailed in a press release.

Autodesk emphasizes key performance metrics such as billings, recurring revenue, net revenue retention rate (NR3), and subscriptions to provide insights into the strength and long-term health of its recurring business.

Autodesk uses non-GAAP financial measures to provide investors with additional insights into its financial performance. These measures are used internally for budgeting and evaluation, and the company believes they offer greater transparency and comparability to management's decision-making, aiding analysts and investors in understanding core business operations and comparing results across periods and with peers.

Commonly excluded expenses from Autodesk's non-GAAP measures include stock-based compensation, amortization of intangibles, CEO transition costs, goodwill impairment, restructuring and exit costs, acquisition-related costs, gains/losses on strategic investments, and discrete tax items. The company provides detailed justifications for each exclusion in the filing.