AUTODESK, INC. ANNOUNCES FISCAL 2024 THIRD 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

The world's designers, engineers, builders, and creators trust Autodesk to help them design and make anything. From the buildings we live and work in, to the cars we drive and the bridges we drive over. From the products we use and rely on, to the movies and games that inspire us. Autodesk's Design and Make Platform unlocks the power of data to accelerate insights and automate processes, empowering our customers with the technology to create the world around us and deliver better outcomes for their business and the planet. For more information, visit autodesk.com or follow @autodesk. #MakeAnything

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)

















Three Months Ended October
31,


Nine Months Ended October 31,


2023


2022


2023


2022


(Unaudited)


(Unaudited)

Net revenue:








Subscription

$           1,314


$           1,188


$          3,777


$          3,437

Maintenance

12


16


40


51

    Total subscription and maintenance revenue

1,326


1,204


3,817


3,488

Other

88


76


211


199

Total net revenue

1,414


1,280


4,028


3,687

Cost of revenue:








Cost of subscription and maintenance revenue

94


86


285


253

Cost of other revenue

21


19


62


59

Amortization of developed technologies

12


15


34


44

Total cost of revenue

127


120


381


356

Gross profit

1,287


1,160


3,647


3,331

Operating expenses:








Marketing and sales

439


454


1,344


1,306

Research and development

339


311


1,021


906

General and administrative

165


129


438


377

Amortization of purchased intangibles

10


10


31


30

Total operating expenses

953


904


2,834


2,619

Income from operations

334


256


813


712

Interest and other expense, net

(14)


(14)


(14)


(43)

Income before income taxes

320


242


799


669

Provision for income taxes

(79)


(44)


(175)


(139)

Net income

$              241


$              198


$             624


$             530

Basic net income per share

$             1.13


$            0.92


$            2.92


$            2.44

Diluted net income per share

$              1.12


$            0.91


$            2.89


$            2.43

Weighted average shares used in computing basic net income per
share

214


216


214


217

Weighted average shares used in computing diluted net income per
share

216


217


216


218


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