AUTODESK, INC. ANNOUNCES FISCAL 2023 SECOND 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 July 31,


Six Months Ended July 31,



2022


2021


2022


2021



(Unaudited)


(Unaudited)

Net revenue (2):









Subscription


$          1,160


$             997


$          2,249


$          1,924

Maintenance


17


17


35


36

    Total subscription and maintenance revenue


1,177


1,014


2,284


1,960

Other


60


46


123


89

Total net revenue


1,237


1,060


2,407


2,049

Cost of revenue:









Cost of subscription and maintenance revenue


83


76


167


144

Cost of other revenue


21


16


40


30

Amortization of developed technologies


15


14


29


24

Total cost of revenue


119


106


236


198

Gross profit


1,118


954


2,171


1,851

Operating expenses:









Marketing and sales


433


399


852


776

Research and development


306


277


595


543

General and administrative


128


119


248


231

Amortization of purchased intangibles


9


11


20


19

Total operating expenses


876


806


1,715


1,569

Income from operations


242


148


456


282

Interest and other expense, net


(10)


(9)


(29)


(12)

Income before income taxes


232


139


427


270

(Provision) benefit for income taxes


(46)


(24)


(95)


1

Net income


$             186


$             115


$             332


$              271

Basic net income per share


$            0.86


$            0.52


$            1.53


$             1.23

Diluted net income per share


$            0.85


$            0.52


$            1.52


$             1.22

Weighted average shares used in computing basic net income per share


217


220


217


220

Weighted average shares used in computing diluted net income per share


218


222


218


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) In current fiscal year, 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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