8-KEarnings & ResultsRegulation FDExhibits & Filings

Autodesk, Inc. 8-K Report, Financial Results (Feb 29, 2024)

Filed February 29, 2024For Securities:ADSK

Summary

Autodesk, Inc. (ADSK) filed an 8-K on February 29, 2024, reporting its fourth quarter and full fiscal year 2024 results. The report primarily furnishes a press release detailing financial performance and key operating metrics. Autodesk emphasizes its use of non-GAAP financial measures to provide a clearer view of core business operations and long-term health, excluding items such as stock-based compensation, amortization, CEO transition costs, and acquisition-related expenses. These non-GAAP measures are intended to supplement GAAP results and aid investors in comparing performance across periods and with industry peers. The company also highlights its key performance metrics, including billings, recurring revenue, net revenue retention rate (NR3), and subscriptions, which are crucial for understanding the strength and long-term health of its subscription-based business model. Investors are encouraged to review both GAAP and non-GAAP figures, as well as the provided reconciliations, to gain a comprehensive understanding of Autodesk's financial standing and operational performance.

Key Highlights

  • 1Autodesk reported Q4 FY2024 financial results via an 8-K filing, furnished as an exhibit.
  • 2The company utilizes key performance metrics (billings, recurring revenue, NR3, subscriptions) to monitor the strength of its recurring business.
  • 3Autodesk employs non-GAAP financial measures for greater transparency into core business operations and long-term performance.
  • 4Key exclusions from non-GAAP measures include stock-based compensation, amortization, CEO transition costs, goodwill impairment, restructuring charges, lease-related charges, acquisition costs, and strategic investment gains/losses.
  • 5The 8-K emphasizes that non-GAAP measures are supplemental and should be reviewed alongside GAAP results and reconciliations.
  • 6Supplemental investor materials were also posted on the company's investor relations website.
  • 7The filing's contents are furnished and not deemed "filed" for certain SEC liability purposes.

Frequently Asked Questions

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

Autodesk presents non-GAAP financial measures to offer investors a clearer view of its core business operations and earning potential. These measures exclude certain expenses and charges that management believes are not indicative of ongoing operating results, such as stock-based compensation, amortization, and restructuring costs, thereby allowing for better period-over-period comparability and analysis against peers.

The detailed financial results and reconciliations between GAAP and non-GAAP measures are available in the press release furnished as Exhibit 99.1 to this 8-K filing. Autodesk also posts supplemental investor materials on its investor relations website (investors.autodesk.com).

When an exhibit is 'furnished' rather than 'filed' with the SEC, it generally means the company is providing the information but is not subject to the same level of liability under Section 18 of the Exchange Act as if it were formally filed. This is a common practice for earnings press releases.