SAN FRANCISCO — (BUSINESS WIRE) — September 29, 2015 — Autodesk, Inc. (NASDAQ: ADSK) is hosting its annual Investor Day at the Autodesk Gallery in San Francisco. Here, Autodesk will provide an update on its transition to a subscription-based business model and plans for expanding its market opportunity. The company is also reiterating its business outlook for the third quarter and fiscal year 2016.
"Autodesk is moving rapidly to take advantage of the platform shift from the desktop to the cloud, which enables our customers to think differently about how they approach design, simulation, production, and collaboration," said Carl Bass, Autodesk president and CEO. "Autodesk has been preparing for this transition for more than two years and we're now accelerating the process. To do so, we are transforming our business to help our customers realize a new future of making things."
At today’s event Investor Day event, Bass will be joined by other members of the Autodesk leadership team to discuss opportunities in the current market, provide updates on the business model transition, financial metrics, and corporate strategy.
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." Autodesk's business outlook for the third quarter and full year fiscal 2016 assumes, among other things, a continuation of the current economic environment and foreign exchange currency rate environment. A reconciliation between the GAAP and non-GAAP estimates for fiscal 2016 is provided below or in the tables following this press release.
Third Quarter Fiscal 2016
| Q3 FY16 Guidance Metrics | Q3 FY16 (ending October 31, 2015) | |||
| Revenue (in millions) | $580 - $600 | |||
| EPS GAAP | ($0.23) - ($0.18) | |||
| EPS Non-GAAP (1) | $0.05 - $0.10 |
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(1) Non-GAAP earnings per diluted share exclude $0.21 related to stock-based compensation expense and $0.07 for the amortization of acquisition related intangibles, net of tax.
Full Year Fiscal 2016
| FY16 Guidance Metrics | FY16 (ending January 31, 2016) | |||
| Billings growth (1) | 2% - 4% | |||
| Revenue (in millions) (2) | $2,465 - $2,505 | |||
| GAAP operating margin | (2)% - (1)% | |||
| Non-GAAP operating margin (3) | 9% - 10% | |||
| EPS GAAP (4) | ($1.39) - ($1.27) | |||
| EPS Non-GAAP (5) | $0.60 - $0.72 | |||
| Net subscription additions | 375,000 - 425,000 |
