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Autodesk(ADSK) - 2025 Q3 - Quarterly Results
ADSKAutodesk(ADSK)2024-11-26 21:05

Revenue and Profitability - Total revenue increased 11% to 1.57billioninQ3FY25[3]−SubscriptionrevenueforthethreemonthsendedOctober31,2024,was1.57 billion in Q3 FY25[3] - Subscription revenue for the three months ended October 31, 2024, was 1.457 billion, compared to 1.314billioninthesameperiodlastyear[42]−TotalnetrevenueforthethreemonthsendedOctober31,2024,reached1.314 billion in the same period last year[42] - Total net revenue for the three months ended October 31, 2024, reached 1.570 billion, up from 1.414billioninthepreviousyear[42]−GrossprofitforthethreemonthsendedOctober31,2024,was1.414 billion in the previous year[42] - Gross profit for the three months ended October 31, 2024, was 1.423 billion, compared to 1.287billioninthesameperiodlastyear[42]−NetincomeforthethreemonthsendedOctober31,2024,was1.287 billion in the same period last year[42] - Net income for the three months ended October 31, 2024, was 275 million, up from 241millioninthepreviousyear[42]−NetincomefortheninemonthsendedOctober31,2024,was241 million in the previous year[42] - Net income for the nine months ended October 31, 2024, was 809 million, compared to 624millioninthesameperiodin2023[46]−Full−yearFY25revenueguidanceis624 million in the same period in 2023[46] - Full-year FY25 revenue guidance is 6.115 billion to 6.130billion,upapproximately116.130 billion, up approximately 11%[15] Operating Margins and Earnings - GAAP operating margin was 22%, down 2 percentage points[3] - Non-GAAP operating margin was 36%, down 3 percentage points[3] - GAAP diluted EPS was 1.27; Non-GAAP diluted EPS was 2.17[3]−Non−GAAPoperatingmarginfortheninemonthsendedOctober31,2024,was362.17[3] - Non-GAAP operating margin for the nine months ended October 31, 2024, was 36%, compared to 36% in 2023[51] - Non-GAAP income from operations for the nine months ended October 31, 2024, was 1,623 million, compared to 1,440millionin2023[51]−Non−GAAPdilutednetincomepersharefortheninemonthsendedOctober31,2024,was1,440 million in 2023[51] - Non-GAAP diluted net income per share for the nine months ended October 31, 2024, was 6.18, compared to 5.51in2023[53]CashFlowandFinancialPosition−Cashflowfromoperatingactivitieswas5.51 in 2023[53] Cash Flow and Financial Position - Cash flow from operating activities was 209 million; free cash flow was 199million[3]−NetcashprovidedbyoperatingactivitiesfortheninemonthsendedOctober31,2024,was199 million[3] - Net cash provided by operating activities for the nine months ended October 31, 2024, was 915 million, compared to 876millionin2023[46]−FreecashflowfortheninemonthsendedOctober31,2024,was876 million in 2023[46] - Free cash flow for the nine months ended October 31, 2024, was 889 million, compared to 855millionin2023[53]−TotalcurrentassetsasofOctober31,2024,were855 million in 2023[53] - Total current assets as of October 31, 2024, were 2.899 billion, compared to 3.579billionasofJanuary31,2024[44]−DeferredrevenueasofOctober31,2024,was3.579 billion as of January 31, 2024[44] - Deferred revenue as of October 31, 2024, was 3.277 billion, down from 3.500billionasofJanuary31,2024[44]−Totalliabilitiesandstockholders′equityasofOctober31,2024,were3.500 billion as of January 31, 2024[44] - Total liabilities and stockholders' equity as of October 31, 2024, were 10.133 billion, compared to 9.912billionasofJanuary31,2024[44]ExpensesandCosts−ResearchanddevelopmentexpensesforthethreemonthsendedOctober31,2024,were9.912 billion as of January 31, 2024[44] Expenses and Costs - Research and development expenses for the three months ended October 31, 2024, were 378 million, up from 339millioninthesameperiodlastyear[42]−MarketingandsalesexpensesforthethreemonthsendedOctober31,2024,were339 million in the same period last year[42] - Marketing and sales expenses for the three months ended October 31, 2024, were 525 million, compared to 439millioninthepreviousyear[42]−TotaloperatingexpensesforthethreemonthsendedOctober31,2024,were439 million in the previous year[42] - Total operating expenses for the three months ended October 31, 2024, were 1.077 billion, up from 953millioninthesameperiodlastyear[42]−Stock−basedcompensationexpensefortheninemonthsendedOctober31,2024,was953 million in the same period last year[42] - Stock-based compensation expense for the nine months ended October 31, 2024, was 500 million, compared to 543millionin2023[51]−AmortizationofdevelopedtechnologiesfortheninemonthsendedOctober31,2024,was543 million in 2023[51] - Amortization of developed technologies for the nine months ended October 31, 2024, was 59 million, compared to 31millionin2023[51]−Acquisition−relatedcostsfortheninemonthsendedOctober31,2024,were31 million in 2023[51] - Acquisition-related costs for the nine months ended October 31, 2024, were 39 million, compared to 16millionin2023[51]BusinessPerformanceMetrics−Totalbillingsincreased2816 million in 2023[51] Business Performance Metrics - Total billings increased 28% to 1.54 billion[5] - Recurring revenue represents 97% of total revenue[6] - Net revenue retention rate remained within the range of 100 to 110% on a constant currency basis[8] - Remaining performance obligations (RPO) increased 17% to 6.11billion[8]−Businesscombinations,netofcashacquired,amountedto6.11 billion[8] - Business combinations, net of cash acquired, amounted to 801 million in the nine months ended October 31, 2024, compared to $44 million in 2023[46]