Press release
Autodesk, Inc. Announces Fiscal 2022 First Quarter Results
- Revenue Increased 12% to $989 Million, Driven by Acceleration in New Business and Resilient SaaS Model - Billings and Current Remaining Performance
About this update from Autodesk, Inc.
[{"type":"text","content":"- Revenue Increased 12% to $989 Million, Driven by Acceleration in New Business and Resilient SaaS Model\n - Billings and Current Remaining Performance Obligations Accelerate, Increasing 10% and 22%, Respectively\n\n\nSAN FRANCISCO, May 27, 2021 /PRNewswire/ -- Autodesk, Inc. (NASDAQ: ADSK) today reported financial results for the first quarter of fiscal 2022. \n\n \n \n \n \n \n \n\n \nAll growth rates are compared to the first quarter of fiscal 2021, 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.\nFirst Quarter Fiscal 2022 Financial Highlights\nTotal revenue increased 12 percent to $989 million; GAAP operating margin was 14 percent, down 1 percentage point; Non-GAAP operating margin remained flat at 28 percent; GAAP diluted EPS was $0.70; Non-GAAP diluted EPS was $1.03; Cash flow from operating activities was $336 million; free cash flow was $316 million. \"An acceleration in new business, solid execution, and a resilient subscription business model delivered a strong start to the new fiscal year,\" said Andrew Anagnost, Autodesk president and CEO. \"As the world rebuilds after the pandemic, Autodesk's purpose – a better world designed and made for all – has never been more important, and underpins our confidence this year and well into the future.\" \n\"Momentum in our end markets and customer adoption of cloud services is building,\" said Debbie Clifford, Autodesk CFO. \"We are raising our FY22 revenue guidance to reflect a partial year contribution from acquisitions and remain on track to achieve our FY23 financial goals.\"\nAdditional Financial Details\nTotal billings increased 10 percent to $974 million. Total revenue was $989 million, an increase of 12 percent as reported, and 11 percent on a constant currency basis. Recurring revenue represents 98 percent of total. Design revenue was $885 million, an increase of 11 percent as reported, and 10 percent on a constant currency basis. On a sequential basis, Design revenue decreased 2 percent as reported and on a constant currency basis. Make revenue was $82 million, an increase of 21 percent as reported, and 20 percent on a constant currency basis. On a sequential basis, Make revenue remained flat as reported and on a constant currency basi...