Autodesk, Inc. Announces Fiscal 2022 Second Quarter Results

 

Net Revenue by Product Family


Our product offerings are focused in four primary product families: Architecture, Engineering and Construction ("AEC"), AutoCAD and AutoCAD LT, Manufacturing ("MFG"), and Media and Entertainment ("M&E").


Three Months Ended July 31, 2021


Three Months Ended July 31, 2020


Change compared to

prior fiscal year

(In millions, except percentages)


$


%

AEC

$

478.7



$

397.0



$

81.7



21

%

AutoCAD and AutoCAD LT

304.4



271.9



32.5



12

%

MFG

207.7



185.5



22.2



12

%

M&E

58.5



53.3



5.2



10

%

Other

10.4



5.4



5.0



93

%


$

1,059.7



$

913.1



$

146.6



16

%

Business Outlook

The following are forward-looking statements based on current expectations and assumptions, and involve risks and uncertainties, some of which are set forth below under "Safe Harbor Statement."  Autodesk's business outlook for the third quarter and full-year fiscal 2022 takes into consideration the current economic environment and foreign exchange currency rate environment. A reconciliation between the fiscal 2022 GAAP and non-GAAP estimates is provided below or in the tables following this press release.

Third Quarter Fiscal 2022

Q3 FY22 Guidance Metrics

Q3 FY22

(ending October 31, 2021)

Revenue (in millions)

$1,110 - $1,125

EPS GAAP

$0.50 - $0.56

EPS non-GAAP (1)

$1.22 - $1.28

____________________

(1)

Non-GAAP earnings per diluted share excludes $0.64 related to stock-based compensation expense, $0.10 for the amortization of purchased intangibles, $0.02 for acquisition-related costs, partially offset by ($0.04) related to GAAP-only tax benefit.

Full Year Fiscal 2022

FY22 Guidance Metrics

FY22

(ending January 31, 2022)

Billings (in millions) (1)

$4,875 - $4,975

Up 18% - 20%

Revenue (in millions) (2)

$4,345 - $4,385

Up 15% - 16%

GAAP operating margin

Approx. 15%

Non-GAAP operating margin (3)

Approx. 31%

EPS GAAP

$2.43 - $2.58

EPS non-GAAP (4)

$4.91 - $5.06

Free cash flow (in millions) (5)

$1,500 - $1,575

_______________

(1)

Excluding the approximately $50 million impact of foreign currency exchange rates and hedge gains/losses, billings guidance would be $4,825 - $4,925 million.

(2)

Excluding the approximately $55 million impact of foreign currency exchange rates and hedge gains/losses, revenue guidance would be $4,290 - $4,330 million.

(3)

Non-GAAP operating margin excludes approximately 13% related to stock-based compensation expense, approximately 2% for the amortization of purchased intangibles, and 1% related to acquisition-related costs.

(4)

Non-GAAP earnings per diluted share excludes $2.49 related to stock-based compensation expense, $0.40 for the amortization of purchased intangibles, $0.10 related to acquisition-related costs, partially offset by ($0.03) related to gains on strategic investments and dispositions, and ($0.48) related to a GAAP-only tax benefit.

(5)

Free cash flow is cash flow from operating activities less approximately $75 million of capital expenditures.


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