© 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 Ended
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Nine Months Ended
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2017 |
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2016 |
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2017 |
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2016 | ||||||||
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(Unaudited) | ||||||||||||||
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Net revenue: |
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Maintenance |
$ |
244.4 |
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$ |
273.2 |
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$ |
769.8 |
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$ |
835.1 |
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Subscription |
231.1 |
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112.4 |
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600.6 |
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299.7 |
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Total maintenance and subscription revenue |
475.5 |
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385.6 |
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1,370.4 |
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1,134.8 |
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License and other |
39.8 |
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104.0 |
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132.4 |
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417.4 |
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Total net revenue |
515.3 |
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489.6 |
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1,502.8 |
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1,552.2 |
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Cost of revenue: |
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Cost of maintenance and subscription revenue |
53.9 |
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46.8 |
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161.6 |
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140.2 |
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Cost of license and other revenue |
19.6 |
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24.3 |
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56.0 |
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86.8 |
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Amortization of developed technology |
4.0 |
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10.4 |
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12.7 |
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32.0 |
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Total cost of revenue |
77.5 |
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81.5 |
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230.3 |
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259.0 |
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Gross profit |
437.8 |
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408.1 |
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1,272.5 |
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1,293.2 |
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Operating expenses: |
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Marketing and sales |
272.5 |
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255.0 |
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785.8 |
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738.9 |
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Research and development |
191.8 |
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192.6 |
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573.3 |
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579.1 |
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General and administrative |
68.8 |
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70.4 |
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225.1 |
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213.7 |
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Amortization of purchased intangibles |
4.7 |
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6.8 |
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15.3 |
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22.5 |
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Restructuring (benefits) charges and other facility exit costs, net |
— |
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3.2 |
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0.2 |
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71.5 |
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Total operating expenses |
537.8 |
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528.0 |
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1,599.7 |
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1,625.7 |
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Loss from operations |
(100.0) |
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(119.9) |
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(327.2) |
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(332.5) |
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Interest and other expense, net |
(11.2) |
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(9.4) |
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(31.8) |
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(23.1) |
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Loss before income taxes |
(111.2) |
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(129.3) |
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(359.0) |
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(355.6) |
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Provision for income taxes |
(8.6) |
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(13.5) |
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(34.4) |
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(53.1) |
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Net loss |
$ |
(119.8) |
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$ |
(142.8) |
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$ |
(393.4) |
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$ |
(408.7) |
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Basic net loss per share |
$ |
(0.55) |
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$ |
(0.64) |
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$ |
(1.79) |
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$ |
(1.83) |
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Diluted net loss per share |
$ |
(0.55) |
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$ |
(0.64) |
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$ |
(1.79) |
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$ |
(1.83) |
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Weighted average shares used in computing basic net loss per share |
219.6 |
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222.3 |
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219.7 |
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223.3 |
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Weighted average shares used in computing diluted net loss per share |
219.6 |
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222.3 |
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219.7 |
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223.3 |
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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, and 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. |
