Further information on potential factors that could affect the financial results of Autodesk are included in Autodesk's Annual Report on Form 10-K for the fiscal year ended January 31, 2017, which is on file with the U.S. Securities and Exchange Commission. Autodesk disclaims any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.
About Autodesk
Autodesk makes software for people who make things. If you've ever driven a high-performance car, admired a towering skyscraper, used a smartphone, or watched a great film, chances are you've experienced what millions of Autodesk customers are doing with our software. Autodesk gives you the power to make anything. For more information visit autodesk.com or follow @autodesk.
Autodesk, AutoCAD, AutoCAD LT, BIM 360 and Fusion 360 are registered trademarks of Autodesk, Inc., and/or its subsidiaries and/or affiliates in the USA and/or other countries. All other brand names, product names or trademarks belong to their respective holders. Autodesk reserves the right to alter product and service offerings, and specifications and pricing at any time without notice, and is not responsible for typographical or graphical errors that may appear in this document.
© 2017 Autodesk, Inc. All rights reserved.
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Autodesk, Inc. |
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Condensed Consolidated Statements of Operations (1) |
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(In millions, except per share data) |
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Three Months
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2017 |
2016 |
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(Unaudited) |
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Net revenue: |
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Maintenance |
$ |
263.6 |
$ |
284.4 |
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Subscription |
173.4 |
85.5 |
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Total maintenance and subscription revenue |
437.0 |
369.9 |
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License and other |
48.7 |
142.0 |
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Total net revenue |
485.7 |
511.9 |
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Cost of revenue: |
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Cost of maintenance and subscription revenue |
54.9 |
46.6 |
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Cost of license and other revenue |
18.6 |
34.9 |
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Amortization of developed technology |
4.7 |
10.9 |
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Total cost of revenue |
78.2 |
92.4 |
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Gross profit |
407.5 |
419.5 |
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Operating expenses: |
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Marketing and sales |
255.7 |
240.8 |
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Research and development |
187.7 |
193.5 |
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General and administrative |
78.3 |
74.7 |
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Amortization of purchased intangibles |
5.7 |
7.9 |
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Restructuring (benefits) charges and other facility exit costs, net |
(0.3) |
52.3 |
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Total operating expenses |
527.1 |
569.2 |
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Loss from operations |
(119.6) |
(149.7) |
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Interest and other expense, net |
(1.8) |
(3.6) |
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Loss before income taxes |
(121.4) |
(153.3) |
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Provision for income taxes |
(8.2) |
(14.4) |
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Net loss |
$ |
(129.6) |
$ |
(167.7) |
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Basic net loss per share |
$ |
(0.59) |
$ |
(0.75) |
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Diluted net loss per share |
$ |
(0.59) |
$ |
(0.75) |
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Weighted average shares used in computing basic net loss per share |
219.9 |
224.4 |
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Weighted average shares used in computing diluted net loss per share |
219.9 |
224.4 |
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(1) In the first quarter of fiscal 2018, in order to improve the transparency of our revenue reporting, we updated our Condensed Consolidated Statement of Operations to include three lines of revenue: maintenance revenue, subscription revenue, license and other revenue. In this format, all subscription revenue is reported in the subscription line and all maintenance revenue is reported in the maintenance line. All remaining non-recurring revenue is reported as license and other revenue. Cost of revenue was updated consistent with the changes noted in revenue and to separately state the amount of amortization from developed technology to be consistent with the presentation of the amortization of purchased intangibles within operating expenses. This simplified the reconciliation between the income statement presentation and recurring revenue, and improved the link between our financial statements and our business model transition. |
