On June 11, 2024, Autodesk Inc (ADSK, Financial) released its 8-K filing for the first quarter of fiscal 2025, showcasing impressive financial performance that surpassed analyst estimates. Founded in 1982, Autodesk is a leading application software company serving industries in architecture, engineering, construction, product design, manufacturing, and media and entertainment. The company boasts over 4 million paid subscribers across 180 countries.
Performance Overview
Autodesk Inc (ADSK, Financial) reported a total revenue of $1.42 billion for the first quarter, marking a 12% increase compared to the same period last year. This figure exceeded the analyst estimate of $1.398.98 million. The company's GAAP diluted earnings per share (EPS) stood at $1.16, while the non-GAAP diluted EPS was $1.87, both surpassing the estimated EPS of $1.01.
Key Financial Achievements
Autodesk's financial achievements for the quarter include a GAAP operating margin of 21%, up 4 percentage points from the previous year, and a non-GAAP operating margin of 35%, up 3 percentage points. The company's cash flow from operating activities was $494 million, with a free cash flow of $487 million.
“Autodesk is ahead of its peers in 3D AI and the industry clouds, platforms, and business model evolution that will be needed to deliver 3D AI products and services at scale,” said Andrew Anagnost, Autodesk president and CEO.
Income Statement Highlights
| Metric | Q1 FY2025 | Q1 FY2024 |
|---|---|---|
| Total Revenue | $1.42 billion | $1.27 billion |
| GAAP Operating Income | $299 million | $217 million |
| GAAP Diluted EPS | $1.16 | $0.75 |
| Non-GAAP Diluted EPS | $1.87 | $1.55 |
Balance Sheet and Cash Flow
As of April 30, 2024, Autodesk reported total assets of $9.83 billion, with cash and cash equivalents amounting to $1.68 billion. The company's total liabilities stood at $4.10 billion, while stockholders' equity was $2.16 billion. The decrease in cash flow from operating activities, down $229 million from the previous year, was noted, but the company maintained a strong free cash flow of $487 million.
Geographic and Product Family Revenue
Revenue by geographic area showed consistent growth across all regions:
| Region | Q1 FY2025 Revenue | Change YoY |
|---|---|---|
| Americas | $619 million | 12% |
| EMEA | $534 million | 13% |
| APAC | $264 million | 9% |
Revenue by product family also demonstrated robust performance:
| Product Family | Q1 FY2025 Revenue | Change YoY |
|---|---|---|
| AEC | $674 million | 16% |
| AutoCAD and AutoCAD LT | $376 million | 8% |
| MFG | $268 million | 9% |
| M&E | $71 million | 0% |
Analysis and Outlook
Autodesk Inc (ADSK, Financial) has demonstrated strong financial performance, surpassing analyst estimates and showcasing robust growth across various metrics. The company's focus on 3D AI and industry-specific platforms positions it well for future advancements. However, challenges such as decreased cash flow from operating activities and fluctuations in deferred revenue need to be monitored closely.
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Explore the complete 8-K earnings release (here) from Autodesk Inc for further details.
