Autodesk, Inc. Announces Fiscal 2021 Third Quarter Results

 

Net Revenue by Product Family


Our product offerings are focused in four primary product families: Architecture, Engineering and Construction ("AEC"), AutoCAD and AutoCAD LT, Manufacturing ("MFG"), and Media and Entertainment ("M&E").



Three Months
Ended October
31, 2020


Three Months
Ended October
31, 2019


Change compared to
prior fiscal year

(In millions, except percentages)


$


%

AEC

$

419.4



$

358.0



$

61.4



17

%

AutoCAD and AutoCAD LT

278.8



245.4



33.4



14

%

MFG

194.1



182.2



11.9



7

%

M&E

54.0



50.6



3.4



7

%

Other

6.1



6.5



(0.4)



(6)

%


$

952.4



$

842.7



$

109.7



13

%

Business Outlook

The following are forward-looking statements based on current expectations and assumptions, and involve risks and uncertainties, some of which are set forth below under "Safe Harbor Statement."  Autodesk's business outlook for the fourth quarter and full-year fiscal 2021 takes into consideration the current economic environment and foreign exchange currency rate environment. A reconciliation between the fiscal 2021 GAAP and non-GAAP estimates is provided below or in the tables following this press release.

Fourth Quarter Fiscal 2021

Q4 FY21 Guidance Metrics

Q4 FY21
(ending January 31, 2021)

Revenue (in millions)                                                

$999 - $1,014

EPS GAAP

$0.53 - $0.59

EPS non-GAAP (1)

$1.04 - $1.10


_______________

(1) Non-GAAP earnings per diluted share excludes $0.49 related to stock-based compensation expense, $0.07 for the amortization of purchased intangibles, $0.01 for acquisition-related costs, partially offset by ($0.06) related to GAAP-only tax benefit.

 

Full Year Fiscal 2021

FY21 Guidance Metrics

FY21
(ending January 31, 2021)

Billings (in millions) (1)                                                 

$4,070 - $4,130
Down (3%) - (1%)

Revenue (in millions) (1)

$3,750 - $3,765
Up 15%

GAAP operating margin

Approx. 16%

Non-GAAP operating margin (2)

Approx. 29%

EPS GAAP

$1.86 - $1.92

EPS non-GAAP (3)

$3.91 - $3.97

Free cash flow (in millions) (4)

$1,300 - $1,360


_______________

(1) Excluding the approximately $10 million impact of foreign currency exchange rates and hedge gains/losses, billings guidance would be $4,080 - $4,140 million and revenue guidance would be $3,760 - $3,775 million.

(2) Non-GAAP operating margin excludes approximately 11% related to stock-based compensation expense, approximately 2% for the amortization of purchased intangibles, and less than 1% related to acquisition-related costs.

(3) Non-GAAP earnings per diluted share excludes $1.80 related to stock-based compensation expense, $0.30 for the amortization of purchased intangibles, $0.14 related to losses on strategic investments and dispositions, $0.06 related to acquisition-related costs, partially offset by ($0.25) related to a GAAP-only tax benefit.

(4) Free cash flow is cash flow from operating activities less approximately $95 million of capital expenditures.


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