8-KEarnings & ResultsRegulation FDExhibits & Filings

Autodesk, Inc. 8-K Report, Financial Results (Jun 11, 2024)

Filed June 11, 2024For Securities:ADSK

Summary

Autodesk, Inc. (ADSK) has filed an 8-K report on June 11, 2024, to furnish its earnings press release for the first fiscal quarter ended April 30, 2024. The filing primarily serves to inform investors about the company's financial results and key performance metrics. Autodesk highlights the use of metrics such as billings, recurring revenue, and Net Revenue Retention Rate (NR3) to provide insight into the strength and long-term health of its recurring business model. These metrics are presented alongside GAAP financials and are intended to offer a more comprehensive view for investors. The report also elaborates on Autodesk's use of non-GAAP financial measures, explaining the rationale behind excluding certain 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. The company emphasizes that these non-GAAP measures are used internally for operational decision-making and are provided to offer greater transparency to investors, enabling better comparison across periods and with industry peers. Investors are urged to review the full reconciliation of GAAP to non-GAAP measures provided in the furnished press release.

Key Highlights

  • 1Autodesk furnished its Q1 fiscal 2025 earnings press release on June 11, 2024, detailing financial results for the quarter ended April 30, 2024.
  • 2The company emphasizes key performance metrics such as billings, recurring revenue, and Net Revenue Retention Rate (NR3) to showcase the strength of its recurring revenue business model.
  • 3Autodesk utilizes non-GAAP financial measures to provide supplemental insights into its financial performance, aiding in period-to-period comparisons and analysis.
  • 4Excluded items from non-GAAP measures include stock-based compensation, amortization of intangibles, CEO transition costs, restructuring costs, and acquisition-related expenses, among others.
  • 5The rationale for excluding these items is to offer a clearer view of core business operating results and facilitate comparisons with industry peers.
  • 6Investors are encouraged to consider these non-GAAP measures in conjunction with, and not as a substitute for, GAAP financial statements.
  • 7Autodesk also directs investors to its investor relations website for additional supplemental investor materials and to monitor its Regulation FD disclosures.

Frequently Asked Questions

The main purpose of this 8-K filing is to furnish Autodesk's press release reporting its financial results for the first fiscal quarter ended April 30, 2024. It serves to officially release this information to the public and highlights key financial metrics and non-GAAP adjustments used by the company.

Billings, recurring revenue, and Net Revenue Retention Rate (NR3) are key performance metrics Autodesk uses to monitor the strength and long-term health of its recurring business model. Billings represent the amount invoiced to customers, recurring revenue reflects predictable income streams, and NR3 indicates how much revenue is retained from existing customers, including upsells and churn. These metrics are important for understanding the underlying growth and stability of Autodesk's subscription-based business.

Autodesk presents non-GAAP financial measures to offer investors a supplemental view of its performance, excluding items that management believes are not indicative of its core operating results. These exclusions, such as stock-based compensation, amortization of intangibles, and certain transition or restructuring costs, are intended to provide greater transparency and allow for more meaningful comparisons across different periods and with peer companies, aiding in the analysis of the company's ongoing earning potential.

Key items excluded from Autodesk's non-GAAP financial measures include stock-based compensation expenses, amortization of developed technologies and purchased intangibles, CEO transition costs, goodwill impairment, restructuring and other exit costs, lease-related asset impairments, acquisition-related costs, gains or losses on strategic investments, and discrete tax items. The company provides detailed explanations for each exclusion in its press release.