Autodesk Q3 2022 Earnings Report
Key Takeaways
Autodesk reported strong Q3 2022 results, with revenue up 18% to $1,126 million and current remaining performance obligations up 21% to $2,877 million. This growth was driven by strong new subscriptions and renewal rates. However, the company noted that supply chain disruption, inflationary pressures, a global labor shortage, and the ebb and flow of COVID are impacting the pace of recovery and outlook.
Total revenue increased 18 percent to $1,126 million.
GAAP operating margin was 17 percent, down 1 percentage point.
Non-GAAP operating margin was up 2 percentage points to 32 percent.
Free cash flow was $257 million.
Autodesk
Autodesk
Autodesk Revenue by Geographic Location
Forward Guidance
Autodesk provided guidance for Q4 FY22, with revenue expected to be between $1,185 million and $1,200 million and non-GAAP EPS between $1.41 and $1.47. For the full year FY22, billings are expected to be between $4,740 million and $4,800 million, revenue between $4,360 million and $4,375 million, and free cash flow between $1,420 million and $1,460 million.
Positive Outlook
- Revenue (in millions): $1,185 - $1,200
- EPS GAAP: $0.71 - $0.77
- EPS non-GAAP: $1.41 - $1.47
- Billings (in millions): $4,740 - $4,800
- Free cash flow (in millions): $1,420 - $1,460
Challenges Ahead
- Supply chain disruption
- Resulting inflationary pressures
- Global labor shortage
- The ebb and flow of COVID
- Foreign exchange currency rate environment
Revenue & Expenses
Visualization of income flow from segment revenue to net income