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

© 2023 Autodesk, Inc. All rights reserved.

 

Autodesk, Inc.








Condensed Consolidated Statements of Operations





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

















Three Months Ended January 31,


Fiscal Year Ended January 31,


2023


2022


2023


2022


(Unaudited)

Net revenue (2):








Subscription

$             1,214


$                1,093


$            4,651


$           4,060

Maintenance

14


22


65


76

    Total subscription and maintenance revenue

1,228


1,115


4,716


4,136

Other

90


96


289


250

Total net revenue

1,318


1,211


5,005


4,386

Cost of revenue:








Cost of subscription and maintenance revenue

90


80


343


299

Cost of other revenue

20


19


79


67

Amortization of developed technologies

14


13


58


52

Total cost of revenue

124


112


480


418

Gross profit

1,194


1,099


4,525


3,968

Operating expenses:








Marketing and sales

439


428


1,745


1,623

Research and development

313


290


1,219


1,115

General and administrative

155


228


532


572

Amortization of purchased intangibles

10


10


40


40

Total operating expenses

917


956


3,536


3,350

Income from operations

277


143


989


618

Interest and other expense, net


(36)


(43)


(53)

Income before income taxes

277


107


946


565

Benefit (provision) for income taxes

16


(18)


(123)


(68)

Net income

$               293


$                     89


$              823


$               497

Basic net income per share

$              1.36


$                  0.41


$              3.81


$              2.26

Diluted net income per share

$              1.35


$                 0.40


$             3.78


$              2.24

Weighted average shares used in computing basic net income per share

216


219


216


220

Weighted average shares used in computing diluted net income per share

217


221


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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