Autodesk, Inc. Announces Fiscal 2020 Second Quarter Results

About Autodesk

Autodesk makes software for people who make things. If you've ever driven a high-performance car, admired a towering skyscraper, used a smartphone, or watched a great film, chances are you've experienced what millions of Autodesk customers are doing with our software. Autodesk gives you the power to make anything. For more information visit autodesk.com or follow @autodesk.

Autodesk, AutoCAD, AutoCAD LT, BIM 360 and Fusion 360 are registered trademarks of Autodesk, Inc., and/or its subsidiaries and/or affiliates in the USA and/or other countries. All other brand names, product names or trademarks belong to their respective holders. Autodesk reserves the right to alter product and service offerings, and specifications and pricing at any time without notice, and is not responsible for typographical or graphical errors that may appear in this document.
© 2019 Autodesk, Inc. All rights reserved.

Autodesk, Inc.

             

Condensed Consolidated Statements of Operations

       

(In millions, except per share data)

             
               
 

Three Months Ended July 31,

 

Six Months Ended July 31,

 

2019

 

2018

 

2019

 

2018

 

(Unaudited)

Net revenue:

             

Subscription

$

663.7

   

$

420.6

   

$

1,259.5

   

$

771.0

 

Maintenance

103.5

   

166.4

   

215.5

   

347.6

 

    Total subscription and maintenance revenue

767.2

   

587.0

   

1,475.0

   

1,118.6

 

Other

29.6

   

24.7

   

57.3

   

53.0

 

Total net revenue

796.8

   

611.7

   

1,532.3

   

1,171.6

 

Cost of revenue:

             

Cost of subscription and maintenance revenue

53.0

   

54.1

   

112.7

   

104.5

 

Cost of other revenue

17.9

   

12.3

   

31.7

   

25.1

 

Amortization of developed technology

8.6

   

3.4

   

17.8

   

7.0

 

Total cost of revenue

79.5

   

69.8

   

162.2

   

136.6

 

Gross profit

717.3

   

541.9

   

1,370.1

   

1,035.0

 

Operating expenses:

             

Marketing and sales

316.8

   

289.1

   

630.1

   

565.5

 

Research and development

215.4

   

180.8

   

421.0

   

353.6

 

General and administrative

101.4

   

79.1

   

200.5

   

152.0

 

Amortization of purchased intangibles

9.7

   

3.8

   

19.5

   

7.6

 

Restructuring and other exit costs, net

0.2

   

13.8

   

0.4

   

36.3

 

Total operating expenses

643.5

   

566.6

   

1,271.5

   

1,115.0

 

Income (loss) from operations

73.8

   

(24.7)

   

98.6

   

(80.0)

 

Interest and other (expense) income, net

(7.3)

   

1.3

   

(23.5)

   

(7.2)

 

Income (loss) before income taxes

66.5

   

(23.4)

   

75.1

   

(87.2)

 

Provision for income taxes

(26.3)

   

(16.0)

   

(59.1)

   

(34.6)

 

Net income (loss)

$

40.2

   

$

(39.4)

   

$

16.0

   

$

(121.8)

 

Basic net income (loss) per share

$

0.18

   

$

(0.18)

   

$

0.07

   

$

(0.56)

 

Diluted net income (loss) per share

$

0.18

   

$

(0.18)

   

$

0.07

   

$

(0.56)

 

Weighted average shares used in computing basic net income (loss) per share

219.6

   

219.0

   

219.6

   

218.8

 

Weighted average shares used in computing diluted net income (loss) per share

222.4

   

219.0

   

222.3

   

218.8

 

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