8-KEarnings & ResultsRegulation FDExhibits & Filings

Autodesk, Inc. 8-K Report, Financial Results (Aug 24, 2022)

Filed August 24, 2022For Securities:ADSK

Summary

Autodesk, Inc. filed an 8-K on August 24, 2022, reporting its financial results for the second fiscal quarter ended July 31, 2022. The filing primarily serves to furnish a press release containing these results and to detail the company's use of non-GAAP financial measures and key performance indicators (KPIs) such as billings, recurring revenue, and Net Revenue Retention Rate (NR3). These metrics are presented to offer investors deeper insights into the long-term health and recurring business strength of Autodesk's operations. The company emphasized its use of non-GAAP measures, which exclude items like stock-based compensation, amortization of intangibles, CEO transition costs, goodwill impairment, restructuring costs, lease-related charges, acquisition costs, and gains/losses on strategic investments. Autodesk asserts that these adjustments provide a clearer view of core business operating results, aid in period-over-period comparisons, and are utilized by management for strategic decision-making and incentive compensation. Investors are advised to review these non-GAAP measures alongside, and not as a substitute for, GAAP results, particularly the provided reconciliations.

Key Highlights

  • 1Autodesk reported its Q2 FY2023 financial results via an 8-K filing on August 24, 2022.
  • 2The company furnished a press release containing its financial results and business updates.
  • 3Autodesk highlighted key performance metrics: billings, recurring revenue, and Net Revenue Retention Rate (NR3).
  • 4The filing detailed the company's use of non-GAAP financial measures to provide a view of ongoing operational performance.
  • 5Specific expenses excluded from non-GAAP measures include stock-based compensation, amortization of intangibles, CEO transition costs, and restructuring charges.
  • 6Autodesk also noted the exclusion of acquisition-related costs and gains/losses on strategic investments from its non-GAAP reporting.
  • 7Supplemental 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 a press release containing Autodesk's financial results for the second fiscal quarter ended July 31, 2022, and to provide details on the company's key performance indicators and non-GAAP financial measures.

Autodesk focuses on 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.

Autodesk uses non-GAAP financial measures to offer investors a more transparent view of key metrics used by management for financial and operational decision-making. These measures are intended to exclude items that may not be indicative of core business operations, allowing for better period-over-period comparisons and alignment with how institutional investors and analysts evaluate the company.

Autodesk excludes various items, including but not limited to, stock-based compensation expenses, amortization of developed technologies and purchased intangibles, CEO transition costs, goodwill impairment, restructuring and other exit costs, lease-related charges, acquisition-related costs, and gains or losses on strategic investments and dispositions. They also adjust for certain discrete tax items.