8-KEarnings & ResultsRegulation FDExhibits & Filings

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

Filed August 29, 2024For Securities:ADSK

Summary

Autodesk, Inc. (ADSK) filed an 8-K on August 29, 2024, to report its financial results for the second fiscal quarter ended July 31, 2024. The filing primarily serves as a notification that the company issued a press release containing these results. While the 8-K itself does not contain detailed financial figures, it incorporates the press release by reference, which is where investors will find the specific operational and financial performance data. The company emphasizes its use of key performance metrics such as billings, recurring revenue, and net revenue retention rate (NR3) to monitor business strength and long-term health. Additionally, Autodesk utilizes non-GAAP financial measures, excluding items like stock-based compensation, amortization, CEO transition costs, and acquisition-related expenses, to provide a clearer view of core business operations and comparability across periods and with peers. Investors are encouraged to review these non-GAAP measures alongside GAAP financials and a reconciliation provided in the press release.

Key Highlights

  • 1Autodesk filed an 8-K on August 29, 2024, reporting Q2 fiscal year 2025 financial results (ended July 31, 2024).
  • 2The 8-K incorporates by reference a press release containing the detailed financial results and management commentary.
  • 3The company highlights key performance metrics: billings, recurring revenue, and net revenue retention rate (NR3).
  • 4Autodesk uses non-GAAP financial measures to offer insights into core business performance.
  • 5Commonly excluded items from non-GAAP measures include stock-based compensation, amortization, CEO transition costs, and acquisition-related costs.
  • 6Investors are advised to review both GAAP and non-GAAP results, along with the provided reconciliation.
  • 7Supplemental investor materials are available on Autodesk's investor relations website.

Frequently Asked Questions

The main purpose of this 8-K filing is to formally announce and furnish the press release containing Autodesk's financial results for the second fiscal quarter ended July 31, 2024. It acts as a public record of the company's reported performance for that period.

The detailed financial results, including revenue, earnings, and other key figures for the second fiscal quarter, are located within the press release that is incorporated by reference into this 8-K filing. You should refer to Exhibit 99.1 mentioned in the filing, which is the press release itself.

Billings represent the total amount invoiced to customers for products and services during a period, which is a key indicator of future revenue recognition. Net Revenue Retention Rate (NR3) measures the revenue retained from existing customers, including upsells and expansion, minus churn and downgrades. Both are important metrics that Autodesk uses to monitor the strength and long-term health of its recurring business model.

Autodesk commonly excludes expenses such as stock-based compensation, amortization of developed technologies and purchased intangibles, CEO transition costs, goodwill impairment, restructuring and other exit costs, lease-related charges, acquisition-related costs, gains/losses on strategic investments, discrete tax items, and the income tax effects of these differences between GAAP and non-GAAP measures.