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Jan 31, 2023
Autodesk Q4 2023 Earnings Report
Reported record quarterly and full-year revenue, cash flow from operating activities, and free cash flow.
Key Takeaways
Autodesk reported a 9% increase in total revenue to $1.32 billion for Q4 2023. GAAP operating margin was 21%, up 9 percentage points, and non-GAAP operating margin was 36%, up 1 percentage point. GAAP diluted EPS was $1.35, while non-GAAP diluted EPS was $1.86. Free cash flow was $903 million.
Total revenue increased 9 percent to $1.32 billion.
GAAP operating margin was 21 percent, up 9 percentage points.
Non-GAAP operating margin was 36 percent, up 1 percentage point.
Total billings increased 28 percent to $2.12 billion.
Revenue by Geographic Location
Forward Guidance
Autodesk's business outlook for the first quarter and full-year fiscal 2024 takes into consideration the current economic environment and foreign exchange currency rate environment.
Positive Outlook
- Q1 FY24 Revenue is expected to be between $1,260 million and $1,275 million.
- Q1 FY24 EPS GAAP is expected to be between $0.74 and $0.80.
- Q1 FY24 EPS non-GAAP is expected to be between $1.50 and $1.56.
- FY24 Revenue is expected to be between $5,355 million and $5,455 million.
- FY24 EPS GAAP is expected to be between $3.63 and $3.97.
Challenges Ahead
- FY24 Billings are expected to be between $5,025 million and $5,175 million, down 13% - 11%.
- Excluding the approximate 2 ppt impact of foreign currency exchange rates and hedge gains/losses, billings guidance would be down 11% to 9%.
- Excluding the approximate 4 ppt impact of foreign currency exchange rates and hedge gains/losses, revenue guidance would be up 11% to 13%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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