In releasing third-quarter financial results for its 2025 fiscal year late last month, software firm Autodesk reported an 11% increase in total revenue to $1.57 billion compared to results for the same period last year. Total billings rose 28% to $1.54 billion, and design software revenue rose 9% to $1.3 billion.
The company’s generally accepted accounting principle (GAAP) operating margin was 22%, down 2 percentage points, and non-GAAP operating margin was 36%, down 3 percentage points, it said , but margin continues to recover from a Q1 lag. in the earnings release, Autodesk says it was caused by a pandemic-era policy change that allowed enterprise customers, such as large AEC firms, to pay upfront and set prices. for long-term subscriptions to both software and cloud products.
“Autodesk is leading the industry in modernizing its go-to-market movement,” said Andrew Anagnost, president and CEO of Autodesk. “These initiatives allow us to build broader, longer-lasting direct relationships with our customers and serve them more efficiently. We’ve already seen significant benefits from these optimization initiatives, and there’s more to come in the next phase.”
Anagnost noted at Autodesk University’s annual user conference in October in San Diego that the delay in releasing first-quarter earnings and the company’s subsequent demotion from then-CFO Deborah Clifford had fully addressed.
“The total billings for the company and the amount of billings we were talking about was actually less than 2% of the total, so nothing was fundamentally different with our accounting,” Anagnost told the media on October 17 to the event. “We clarified where some of the billings were coming from, which was already in our disclosures, in terms of what’s called RPO.”
Anagnost said the delayed filing drew attention because it interrupted Autodesk’s first-quarter presentation. “We didn’t file because we didn’t finish the investigation.” he said “We wanted to do the research right, so we took the time to get it right.”
Autodesk also announced that Janesh Moorjani, formerly CFO and COO of Elastic NV, will be the company’s new CFO, effective December 16, succeeding Elizabeth Rafael, who took over from Clifford in June in an interim role. Rafael remains an advisor to the company until the end of fiscal year 2025 and will continue on Autodesk’s board of directors.
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