Mon, Jun 10, 8:21 PM (133 days ago)
Autodesk, Inc.'s Form 10-Q for the quarter ended April 30, 2024, reports a 12% increase in total net revenue to $1.42 billion compared to the same period last year, driven primarily by an 11% increase in subscription revenue. Recurring revenue constituted 97% of total net revenue, while the net revenue retention rate remained between 100% and 110%. Deferred revenue decreased by 7% to $3.96 billion, and remaining performance obligations (RPO) also decreased by 4% to $5.89 billion. The company reported a net income of $252 million, up from $161 million, with diluted net income per share rising to $1.16 from $0.75. Operating expenses increased by 6% due to higher employee-related costs and acquisition-related expenses. Cash flow from operations decreased to $494 million from $723 million, primarily due to changes in accounts receivable and deferred revenue. Autodesk continues to face uncertainties from global economic conditions, geopolitical tensions, and the ongoing transition to new business models.