Press release
Autodesk, Inc. Announces Fiscal 2020 Fourth Quarter And Full-Year Results
-Record Fiscal 2020 Operating and Free Cash Flow of $1.42 Billion and $1.36 Billion, Respectively -Expanded Fiscal 2020 GAAP and Non-GAAP Operating Margin by
About this update from Autodesk, Inc.
[{"type":"text","content":"-Record Fiscal 2020 Operating and Free Cash Flow of $1.42 Billion and $1.36 Billion, Respectively\n -Expanded Fiscal 2020 GAAP and Non-GAAP Operating Margin by 11 and 12 Percentage Points, Respectively\n\n\nSAN RAFAEL, Calif., Feb. 27, 2020 /PRNewswire/ -- Autodesk, Inc. (NASDAQ: ADSK) today reported financial results for the fourth quarter of fiscal 2020.\n\n \n \n\n \nAll growth rates are compared to the fourth quarter of fiscal 2019 unless otherwise noted. A reconciliation of GAAP to non-GAAP results is provided in the accompanying tables. For definitions, please view the Glossary of Terms later in this document.\nTotal ARR increased 25 percent to $3.43 billion; Billings increased 43 percent to $1.49 billion; Total revenue increased 22 percent to $899 million; recurring revenue represents 95 percent of total; GAAP operating margin was 15 percent, up 9 percentage points; Non-GAAP operating margin was 29 percent, up 10 percentage points; GAAP diluted EPS was $0.59; Non-GAAP diluted EPS was $0.92; Cash flow from operating activities was $698 million; free cash flow was $684 million.\"We ended fiscal 2020 on a very strong note with revenue, earnings, and free cash flow coming in above expectations. We are entering the sustainable growth phase of our subscription journey with great momentum,\" said Andrew Anagnost, Autodesk president and CEO. \"Our construction business had a landmark year, we continue to gain share in manufacturing, and are making steady progress in monetizing non-compliant users. We are highly confident in our long-term growth drivers and fiscal 2023 targets.\"\n\"We delivered strong results across the board in fiscal 2020 and are reiterating our fiscal 2021 and 2023 targets,\" said Scott Herren, Autodesk CFO. \"In fiscal 2020, we delivered ARR growth of 25 percent while expanding non-GAAP operating margin by 12 percentage points. Our resilient business model combined with multiple growth drivers, positions us well to deliver on our goals.\"\nFourth Quarter Fiscal 2020 Financial Highlights\nTotal ARR was $3.43 billion, an increase of 25 percent as reported, and 26 percent on a constant currency basis. Acquisitions from the fourth quarter of last year contributed $126 million or 3 percentage points of the growth. On a sequential basis, total ARR increased 6 percent as reported, and 7 percent on a constant currenc...