AUTODESK, INC. ANNOUNCES FISCAL 2023 FIRST QUARTER RESULTS

Further information on potential factors that could affect the financial results of Autodesk are included in Autodesk's Form 10-K and subsequent forms 10-Q, which are on file with the U.S. Securities and Exchange Commission. Autodesk disclaims any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.

About Autodesk

Autodesk is changing how the world is designed and made. Our technology spans architecture, engineering, construction, product design, manufacturing, media and entertainment, empowering innovators everywhere to solve challenges big and small. From greener buildings to smarter products to more mesmerizing blockbusters, Autodesk software helps our customers to design and make a better world for all. For more information visit autodesk.com or follow @autodesk.

Autodesk uses its investors.autodesk.com website as a means of disclosing material non-public information, announcing upcoming investor conferences and for complying with its disclosure obligations under Regulation FD. Accordingly, you should monitor our investor relations website in addition to following our press releases, SEC filings and public conference calls and webcasts.

Autodesk, AutoCAD, AutoCAD LT, BIM 360 and Fusion 360 are registered trademarks of Autodesk, Inc., and/or its subsidiaries and/or affiliates in the USA and/or other countries. All other brand names, product names or trademarks belong to their respective holders. Autodesk reserves the right to alter product and service offerings, and specifications and pricing at any time without notice, and is not responsible for typographical or graphical errors that may appear in this document.

© 2022 Autodesk, Inc. All rights reserved.

 

Autodesk, Inc.




Condensed Consolidated Statements of Operations

(In millions, except per share data) (1)









Three Months Ended April 30,


2022


2021


(Unaudited)

Net revenue (2):




     Subscription

$            1,089


$                927

     Maintenance

18


19

         Total subscription and maintenance revenue

1,107


946

     Other

63


43

          Total net revenue

1,170


989

Cost of revenue:




     Cost of subscription and maintenance revenue

84


68

     Cost of other revenue

19


14

     Amortization of developed technologies

14


10

          Total cost of revenue

117


92

Gross profit

1,053


897

Operating expenses:




     Marketing and sales

419


377

     Research and development

289


266

     General and administrative

120


112

     Amortization of purchased intangibles

11


8

          Total operating expenses

839


763

Income from operations

214


134

Interest and other expense, net

(19)


(3)

Income before income taxes

195


131

(Provision) benefit for income taxes

(49)


25

Net income

$              146


$                156

Basic net income per share

$              0.67


$               0.71

Diluted net income per share

$              0.67


$              0.70

Weighted average shares used in computing basic net income per share

217


220

Weighted average shares used in computing diluted net income per share

219


222

____________________ 

(1) In the current fiscal year, the Company changed its rounding presentation to the nearest whole number in millions of reported amounts, except per share data or as otherwise noted. The current year rounding presentation has been applied to all prior year amounts presented and, in certain circumstances, this change may adjust previously reported balances.


(2) During the quarter ended April 30, 2022, the Company changed its presentation of certain subscription plan offerings in our Condensed Consolidated Statement of Operations. Revenue from subscription plan offerings in which the customer does not utilize the cloud functionality or that do not incorporate substantial cloud functionality, previously recorded in "Subscription" have been reclassified to "Other" and "Maintenance," as applicable.  Accordingly, prior period amounts have been reclassified to conform to the current period presentation, in all material respects. These reclassifications did not impact total net revenue.


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