Press release
AUTODESK, INC. ANNOUNCES FISCAL 2023 FOURTH QUARTER AND FULL-YEAR RESULTS
Record quarterly and full-year revenue, cash flow from operating activities, and free cash flowFourth quarter billings and current remaining performance
About this update from Autodesk, Inc.
[{"type":"text","content":"Record quarterly and full-year revenue, cash flow from operating activities, and free cash flowFourth quarter billings and current remaining performance obligations grew 28 percent and 12 percent year over year, respectively, to $2.1 billion and $3.5 billionSAN FRANCISCO, Feb. 23, 2023 /PRNewswire/ -- Autodesk, Inc. (NASDAQ: ADSK) today reported financial results for the fourth quarter and full year of fiscal 2023.\n\n \n \n \n \n \n \n\n \nAll growth rates are compared to the fourth quarter and full year of fiscal 2022, respectively, 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.\nFourth Quarter Fiscal 2023 Financial Highlights\nTotal revenue increased 9 percent to $1.32 billion;GAAP operating margin was 21 percent, up 9 percentage points;Non-GAAP operating margin was 36 percent, up 1 percentage point;GAAP diluted EPS was $1.35; Non-GAAP diluted EPS was $1.86;Cash flow from operating activities was $911 million; free cash flow was $903 million.\"As we deliver next-generation technology and services to our customers, the pace of transformation within and between the industries we serve will accelerate, generating large new growth opportunities for Autodesk,\" said Andrew Anagnost, Autodesk president and CEO. \"We started seeing the shift towards connected digital workflows in the cloud in product design and manufacturing, then in architecture, followed by building engineering, and more recently construction. And we are now seeing growing momentum with owners.\"\n\"Overall, the demand environment in Q4 remained consistent with Q3 with the approaching transition from up-front to annual billings for multi-year contracts, and a large renewal cohort, providing a tailwind to billings and free cash flow,\" said Debbie Clifford, Autodesk CFO. \"We continue to develop broader strategic partnerships with our customers, closing our largest deal to date during the quarter. Our strong momentum and competitive performance set us up well for fiscal 24.\"\nFourth Quarter Fiscal 2023 Additional Financial Details\nTotal billings increased 28 percent to $2.12 billion.Total revenue was $1.32 billion, an increase of 9 percent as reported, and 12 percent on a constant currency basis. Recurring revenue represents 98 ...