Press release
Autodesk, Inc. Announces Fiscal 2022 Third Quarter Results
Strong revenue and current remaining performance obligations growth, up 18% to $1,126 million and 21% to $2,877 million, respectively, driven by strong new
About this update from Autodesk, Inc.
[{"type":"text","content":"Strong revenue and current remaining performance obligations growth, up 18% to $1,126 million and 21% to $2,877 million, respectively, driven by strong new subscriptions growth and renewal rates\n\n\nSAN FRANCISCO, Nov. 23, 2021 /PRNewswire/ -- Autodesk, Inc. (NASDAQ: ADSK) today reported financial results for the third quarter of fiscal 2022. \n\n \n \n \n \n \n \n\n \nAll growth rates are compared to the third 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.\nThird Quarter Fiscal 2022 Financial Highlights\nTotal revenue increased 18 percent to $1,126 million;GAAP operating margin was 17 percent, down 1 percentage point;Non-GAAP operating margin was up 2 percentage points to 32 percent;GAAP diluted EPS was $0.61; Non-GAAP diluted EPS was $1.33;Cash flow from operating activities was $270 million; free cash flow was $257 million. \"Our customers continue to embrace and prioritize digital transformation to drive growth, efficiency and sustainability, generating strong demand for Autodesk's platform,\" said Andrew Anagnost, Autodesk president and CEO. \"We are rapidly innovating and optimizing our business to enable more customers to experience our ecosystem, and realize the opportunities ahead.\"\n\"Demand was robust in Q3, driving strong new subscriptions growth and renewal rates. We expect it to remain so in Q4,\" said Debbie Clifford, Autodesk CFO. \"However, supply chain disruption and resulting inflationary pressures, a global labor shortage, and the ebb and flow of COVID, are impacting the pace of our recovery and outlook.\"\nAdditional Financial Details\nTotal billings increased 16 percent to $1,168 million. Total revenue was $1,126 million, an increase of 18 percent as reported, and 17 percent on a constant currency basis. Recurring revenue represents 97 percent of total.Design revenue was $994 million, an increase of 17 percent as reported, and 15 percent on a constant currency basis. On a sequential basis, Design revenue increased 5 percent as reported and on a constant currency basis.Make revenue was $94 million, an increase of 23 percent as reported and on a constant currency basis. On a sequential basis, Make revenue increased 5 percent as reported and on a con...