Autodesk, Inc. Announces Fiscal 2021 First Quarter Results

Further information on potential factors that could affect the financial results of Autodesk are included in Autodesk's Form 10-K, which is on file with the U.S. Securities and Exchange Commission. Autodesk disclaims any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.

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 uses its investors.autodesk.com website as a means of disclosing material non-public information, announcing upcoming investor conferences and for complying with its disclosure obligations under Regulation FD. Accordingly, you should monitor our investor relations website in addition to following our press releases, SEC filings and public conference calls and webcasts.

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.

© 2020 Autodesk, Inc. All rights reserved.

Autodesk, Inc.




Condensed Consolidated Statements of Operations

(In millions, except per share data)









Three Months Ended April 30,


2020


2019


(Unaudited)

Net revenue:




Subscription

$

803.0



$

595.8


Maintenance

62.1



112.0


    Total subscription and maintenance revenue

865.1



707.8


Other

20.6



27.7


Total net revenue

885.7



735.5


Cost of revenue:




Cost of subscription and maintenance revenue

57.4



59.7


Cost of other revenue

17.1



13.8


Amortization of developed technology

7.4



9.2


Total cost of revenue

81.9



82.7


Gross profit

803.8



652.8


Operating expenses:




Marketing and sales

341.3



313.3


Research and development

217.4



205.6


General and administrative

104.8



99.1


Amortization of purchased intangibles

9.7



9.8


Restructuring and other exit costs, net



0.2


Total operating expenses

673.2



628.0


Income from operations

130.6



24.8


Interest and other expense, net

(40.1)



(16.2)


Income before income taxes

90.5



8.6


Provision for income taxes

(24.0)



(32.8)


Net income (loss)

$

66.5



$

(24.2)


Basic net income (loss) per share

$

0.30



$

(0.11)


Diluted net income (loss) per share

$

0.30



$

(0.11)


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

219.2



219.6


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

221.3



219.6



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