8-KEarnings & ResultsRegulation FDExhibits & Filings

Autodesk, Inc. 8-K Report, Financial Results (May 26, 2022)

Filed May 26, 2022For Securities:ADSK

Summary

Autodesk, Inc. (ADSK) filed an 8-K on May 26, 2022, primarily furnishing a press release detailing its first fiscal quarter ended April 30, 2022, financial results. The filing emphasizes key performance metrics such as billings, recurring revenue, and Net Revenue Retention Rate (NR3), which the company uses to monitor the strength and long-term health of its recurring business model. Investors are encouraged to view these metrics alongside GAAP measures. The report also extensively discusses Autodesk's use of non-GAAP financial measures, providing transparency into how the company's management evaluates performance. Key exclusions from GAAP figures include stock-based compensation, amortization of intangibles, CEO transition costs, goodwill impairment, restructuring charges, lease-related costs, acquisition-related expenses, gains/losses on strategic investments, discrete tax items, and valuation allowance adjustments. Autodesk highlights that these non-GAAP measures offer meaningful supplemental information for assessing core business operations and comparability with peers, but investors are cautioned against relying solely on them and urged to review the GAAP reconciliation.

Key Highlights

  • 1Autodesk reported its Q1 fiscal 2022 financial results on May 26, 2022, via an 8-K filing.
  • 2The company emphasizes key performance indicators like billings, recurring revenue, and Net Revenue Retention Rate (NR3) to assess business health.
  • 3Autodesk utilizes non-GAAP financial measures to provide a clearer view of core operational performance.
  • 4Significant items excluded from non-GAAP measures include stock-based compensation, amortization of intangibles, and transition/restructuring costs.
  • 5The filing encourages investors to review both GAAP and non-GAAP measures, referencing detailed reconciliations.
  • 6Supplemental investor materials were posted on the company's 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 first fiscal quarter ended April 30, 2022, and to provide explanations regarding the company's key performance metrics and non-GAAP financial measures.

Autodesk highlights billings, recurring revenue, and Net Revenue Retention Rate (NR3) as key performance metrics to monitor the strength and long-term health of its recurring business model.

Autodesk uses non-GAAP financial measures to offer investors greater transparency into how management assesses the company's core business operating results and earning potential. These measures exclude items such as stock-based compensation, amortization, and restructuring costs that may not be indicative of ongoing operations. Investors should be aware that non-GAAP measures are not prepared in accordance with GAAP, may differ from those of other companies, and should be reviewed in conjunction with, not as a substitute for, GAAP financial statements, including their reconciliation.

Investors can find more detailed financial information in the press release furnished as Exhibit 99.1 to this 8-K, which includes reconciliations of non-GAAP to GAAP financial measures. Additionally, Autodesk directs investors to its investor relations website (investors.autodesk.com) for supplemental materials and to monitor disclosures.