Summary
Autodesk, Inc. (ADSK) filed an 8-K on August 25, 2021, primarily to furnish a press release detailing its financial results for the second fiscal quarter ended July 31, 2021. The filing highlights the company's use of key performance metrics such as billings, recurring revenue, and Net Revenue Retention Rate (NR3) to assess the health of its recurring business. Autodesk emphasizes that these metrics, while valuable, should be considered alongside GAAP measures and are not a substitute for them. The company also provided supplemental investor materials on its investor relations website.
Key Highlights
- 1Autodesk reported its financial results for the second fiscal quarter ended July 31, 2021, via a press release.
- 2The company utilizes key performance metrics including billings, recurring revenue, and Net Revenue Retention Rate (NR3) to monitor business strength.
- 3These metrics are intended to provide insight into the long-term health of Autodesk's recurring business.
- 4Autodesk provides non-GAAP financial measures, excluding items like stock-based compensation, amortization of intangibles, and CEO transition costs, to offer a view of core operating results.
- 5The company believes non-GAAP measures offer greater transparency and allow for better comparison across periods and with peers.
- 6Investors are advised to consider these non-GAAP measures in addition to, not as a substitute for, GAAP financial measures.
- 7Autodesk supplements its filings by posting additional investor materials on its investor relations website.
Frequently Asked Questions
The main purpose of this 8-K filing is to officially report Autodesk's financial results for the second fiscal quarter ended July 31, 2021, by furnishing the accompanying press release. It also serves to inform investors about the company's key performance metrics and its use of non-GAAP financial measures.
Autodesk focuses on key performance metrics such as billings, recurring revenue, and Net Revenue Retention Rate (NR3). These metrics are used to assess the strength and long-term health of its recurring revenue business.
Autodesk provides non-GAAP financial measures to offer investors greater transparency into how management views the company's core business operating results. These measures exclude certain expenses (like stock-based compensation, amortization of intangibles, and transition costs) that may not be indicative of ongoing operations, allowing for easier period-over-period comparisons and peer analysis.
Investors should view the key performance metrics and non-GAAP financial measures as supplemental information that complements, rather than replaces, Autodesk's financial results prepared in accordance with GAAP. The company urges investors to review the reconciliations between GAAP and non-GAAP measures provided in the furnished press release.