Net Revenue by Product Family | |||||||
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Our product offerings are focused in four primary product families: Architecture, Engineering and Construction ("AEC"), AutoCAD and AutoCAD LT, Manufacturing ("MFG"), and Media and Entertainment ("M&E"). | |||||||
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| Three Months
|
| Three Months
|
| Change compared to prior fiscal year | ||
(In millions, except percentages) (1) |
| $ |
| % | |||
AEC | $ 518 |
| $ 443 |
| $ 75 |
| 17 % |
AutoCAD and AutoCAD LT | 346 |
| 285 |
| 61 |
| 21 % |
MFG | 225 |
| 197 |
| 28 |
| 14 % |
M&E | 68 |
| 55 |
| 13 |
| 24 % |
Other | 13 |
| 9 |
| 4 |
| 44 % |
|
| $ 1,170 |
| $ 989 |
| $ 181 |
| 18 % |
____________________ |
(1) In the current fiscal year, the Company changed its rounding presentation to the nearest whole number in millions of reported amounts, except per share data or as otherwise noted. The current year rounding presentation has been applied to all prior year amounts presented and, in certain circumstances, this change may adjust previously reported balances. |
Business Outlook
The following are forward-looking statements based on current expectations and assumptions, and involve risks and uncertainties, some of which are set forth below under "Safe Harbor Statement." Autodesk's business outlook for the second quarter and full-year fiscal 2023 takes into consideration the current economic environment and foreign exchange currency rate environment. A reconciliation between the fiscal 2023 GAAP and non-GAAP estimates is provided below or in the tables following this press release.
Second Quarter Fiscal 2023 | |
|
| |
Q2 FY23 Guidance Metrics | Q2 FY23
|
Revenue (in millions) | $1,220 - $1,235 |
EPS GAAP | $0.72 - $0.78 |
EPS non-GAAP (1) | $1.54 - $1.60 |
____________________ |
(1) Non-GAAP earnings per diluted share excludes $0.80 related to stock-based compensation expense, $0.11 for the amortization of purchased intangibles, $0.02 for lease-related impairments and other charges, $0.01 for acquisition-related costs, partially offset by ($0.12) related to GAAP-only tax charges. |
Full Year Fiscal 2023 | |
|
| |
FY23 Guidance Metrics | FY23
|
Billings (in millions) (1) | $5,680 - $5,830
|
Revenue (in millions) (2) | $4,960 - $5,060
|
GAAP operating margin | Approx. 20% |
Non-GAAP operating margin (3) | Approx. 36% |
| EPS GAAP | $3.24 - $3.47 |
| EPS non-GAAP (4) | $6.43 - $6.66 |
| Free cash flow (in millions) (5) | $2,000 - $2,080 |
| ____________________ |
| (1) Excluding the approximately $165 million impact of foreign currency exchange rates and hedge gains/losses, billings guidance would be $5,845 - $5,995 million. |
| (2) Excluding the approximately $70 million impact of foreign currency exchange rates and hedge gains/losses, revenue guidance would be $5,030 - $5,130 million. |
| (3) Non-GAAP operating margin excludes approximately 13% related to stock-based compensation expense, approximately 2% for the amortization of purchased intangibles, less than 1% related to acquisition-related costs, and less than 1% related to lease-related asset impairments and other charges. |
| (4) Non-GAAP earnings per diluted share excludes $3.04 related to stock-based compensation expense, $0.45 for the amortization of purchased intangibles, $0.07 related to lease-related asset impairments and other charges. $0.03 related to acquisition-related costs, partially offset by ($0.40) related to GAAP-only tax charges. |
| (5) Free cash flow is cash flow from operating activities less approximately $60 million of capital expenditures. |
