8-KEarnings & ResultsRegulation FDExhibits & Filings

Autodesk, Inc. 8-K Report, Financial Results (May 25, 2023)

Filed May 25, 2023For Securities:ADSK

Summary

Autodesk, Inc. (ADSK) filed an 8-K on May 25, 2023, to furnish a press release detailing its first fiscal quarter results for the period ending April 30, 2023. While the 8-K itself does not contain the specific financial figures, it directs investors to Exhibit 99.1, a press release that provides these details. The filing also reiterates Autodesk's focus on key performance metrics such as billings, recurring revenue, and Net Revenue Retention Rate (NR3), which are considered crucial for understanding the long-term health of its subscription-based business model. Autodesk emphasizes its use of non-GAAP financial measures, explaining that these are provided to offer investors additional insights into the company's core operating performance by excluding certain items like stock-based compensation, amortization, CEO transition costs, and acquisition-related expenses. Investors are encouraged to review these non-GAAP measures alongside GAAP results and consult the reconciliation provided in the furnished press release. The company also highlighted that supplemental investor materials are available on its investor relations website, which it uses for disclosing material non-public information and complying with Regulation FD. This 8-K serves as a notification of the release of its quarterly financial results and the accompanying explanatory materials.

Key Highlights

  • 1Autodesk announced its first fiscal quarter 2023 financial results on May 25, 2023, via a press release furnished with the 8-K filing.
  • 2The company utilizes key performance metrics like billings, recurring revenue, and Net Revenue Retention Rate (NR3) to assess business health.
  • 3Autodesk provides non-GAAP financial measures to supplement GAAP results, offering insights into core business operations.
  • 4Specific exclusions from non-GAAP measures include stock-based compensation, amortization, CEO transition costs, and acquisition-related expenses.
  • 5Investors are advised to review both GAAP and non-GAAP measures, along with provided reconciliations, for a comprehensive understanding.
  • 6Supplemental investor materials are available on Autodesk's investor relations website.
  • 7The filing itself is primarily a notification of results and does not contain detailed financial statements; these are in the furnished press release (Exhibit 99.1).

Frequently Asked Questions

The primary purpose of this 8-K filing is to officially notify investors that Autodesk has released its financial results for the first fiscal quarter ended April 30, 2023, through a press release. The press release itself is furnished as an exhibit and contains the detailed financial information and commentary.

Autodesk emphasizes key performance metrics such as billings, recurring revenue, and Net Revenue Retention Rate (NR3). These metrics are considered crucial for monitoring the strength and long-term health of its recurring revenue business model.

Autodesk provides non-GAAP financial measures to offer investors a clearer view of the company's core operating performance by excluding certain non-cash or non-recurring items (like stock-based compensation, amortization, CEO transition costs, etc.). Investors should review these non-GAAP measures in conjunction with the GAAP results and consult the reconciliations provided in the press release to fully understand the company's financial position.

Detailed financial results are located in the press release furnished as Exhibit 99.1 to this 8-K filing. Additionally, Autodesk directs investors to its investor relations website (investors.autodesk.com) for supplemental investor materials and other disclosures.