8-KEarnings & ResultsRegulation FDExhibits & Filings

Autodesk, Inc. 8-K Report, Financial Results (Nov 23, 2021)

Filed November 23, 2021For Securities:ADSK

Summary

Autodesk, Inc. (ADSK) filed an 8-K on November 23, 2021, to furnish a press release detailing its third fiscal quarter 2021 financial results. 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 strength and long-term health of its recurring business model. These metrics are presented as supplementary to GAAP financials and are crucial for understanding Autodesk's operational performance. The report also emphasizes Autodesk's use of non-GAAP financial measures, which exclude items like stock-based compensation, amortization of intangibles, CEO transition costs, goodwill impairment, restructuring costs, acquisition-related expenses, and gains/losses on strategic investments. The company believes these non-GAAP figures provide greater transparency and allow for more meaningful comparisons of core business operations across periods and with peers, aiding investors in evaluating earning potential and performance. Autodesk advises investors to consider these non-GAAP measures in conjunction with, and not as a substitute for, GAAP financials, and to review the provided reconciliations.

Key Highlights

  • 1Autodesk released its Q3 FY2021 financial results via an 8-K filing on November 23, 2021.
  • 2The company highlighted key performance metrics: billings, recurring revenue, and Net Revenue Retention Rate (NR3), used to evaluate recurring business strength.
  • 3Autodesk utilizes non-GAAP financial measures to offer insights into core business performance.
  • 4Key exclusions from non-GAAP measures include stock-based compensation, amortization of intangibles, CEO transition costs, and acquisition-related expenses.
  • 5The company believes non-GAAP measures enhance transparency and facilitate period-over-period and peer comparisons.
  • 6Investors are advised to view non-GAAP results alongside GAAP financials and review reconciliations provided in the supplementary materials.
  • 7Supplemental investor materials were posted on the Autodesk investor relations website.

Frequently Asked Questions

The primary purpose of this 8-K filing is to furnish Autodesk's press release detailing its financial results for the third fiscal quarter ended October 31, 2021, and to provide context on the key performance metrics and non-GAAP financial measures the company uses.

Autodesk emphasizes billings, recurring revenue, and Net Revenue Retention Rate (NR3) as key performance metrics. These are used to monitor the health and strength of its recurring business model.

Autodesk uses non-GAAP measures to provide supplemental insights into its core business operations, believing they offer greater transparency and facilitate comparisons. Common exclusions include stock-based compensation, amortization of developed technologies and purchased intangibles, CEO transition costs, goodwill impairment, restructuring costs, acquisition-related costs, and gains/losses on strategic investments.

Investors are encouraged to consider both GAAP and non-GAAP financial measures. The non-GAAP measures should be viewed as supplementary and not as a substitute for GAAP financials. It is important to review the reconciliations provided in the company's supplemental materials to understand the adjustments made.