AUTODESK, INC. ANNOUNCES FISCAL 2023 FOURTH QUARTER AND FULL-YEAR 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


Change compared to

prior fiscal year

(In millions, except percentages) (1)

January 31,
2023


January 31,
2022

$


%

AEC (2)

$              602


$              540


$         62


11 %

AutoCAD and AutoCAD LT (2)

362


332


30


9 %

MFG

257


246


11


4 %

M&E

74


82


(8)


(10) %

Other

23


11


12


109 %

Total Net Revenue

$            1,318


$             1,211


$       107


9 %


____________________ 

(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 current fiscal year, the Company corrected an immaterial classification error and reclassified certain revenue amounts between Architecture, Engineering and Construction and AutoCAD and AutoCAD LT.  The prior year period has been adjusted to conform to the current period presentation.

Fiscal 2023 Financial Highlights

  • Total billings increased 20 percent to $5.80 billion.
  • Total revenue was $5.01 billion, an increase of 14 percent as reported, and 15 percent on a constant currency basis. Recurring revenue represents 98 percent of total.
  • Design revenue was $4.26 billion, an increase of 13 percent as reported, and 14 percent on a constant currency basis.
  • Make revenue was $452 million, an increase of 24 percent as reported, and 25 percent on a constant currency basis.
  • Subscription plan revenue was $4.65 billion, an increase of 15 percent as reported and on a constant currency basis.
  • Total subscriptions increased approximately 702 thousand from fiscal 2022 to 6.74 million at the end of fiscal 2023. Total subscriptions adjusted for the multi-user trade-in increased approximately 603 thousand from fiscal 2022 to 6.25 million. 
  • Subscription plan subscriptions increased 724 thousand from the end of fiscal 2022 to 6.74 million at the end of fiscal 2023.
  • GAAP operating income was $989 million, compared to $618 million last year. GAAP operating margin was 20 percent, up 6 percentage points.
  • Total non-GAAP operating income was $1.79 billion compared to $1.40 billion last year. Non-GAAP operating margin was 36 percent, up 4 percentage points.
  • GAAP diluted net income per share was $3.78, compared to $2.24 last year. 
  • Non-GAAP diluted net income per share was $6.63, compared to $5.07 last year.
  • Cash flow from operating activities increased to $2.07 billion, compared to $1.53 billion in fiscal 2022. Free cash flow increased to $2.03 billion, compared to $1.48 billion in fiscal 2022.

 

Net Revenue by Geographic Area



Fiscal Year Ended
January 31, 2023


Fiscal Year
Ended January
31, 2022


Change compared to

prior fiscal year


Constant
currency change
compared to
prior fiscal year

(In millions, except percentages) (1)



$


%


%

Net Revenue:










Americas










U.S.

$                 1,720


$               1,457


$           263


18 %


*

Other Americas

372


308


64


21 %


*

Total Americas

2,092


1,765


327


19 %


18 %

EMEA

1,906


1,700


206


12 %


13 %

APAC

1,007


921


86


9 %


13 %

Total Net Revenue

$                5,005


$              4,386


$           619


14 %


15 %


____________________

*  Constant currency data not provided at this level.

(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. 


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