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Oct 31, 2021
Autodesk Q3 2022 Earnings Report
Autodesk's Q3 2022 results were driven by strong new subscriptions growth and renewal rates.
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.
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
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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