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").
(In millions, except percentages) | Three Months
|
| Three Months
|
| Change compared to
| |||||||||
|
| $ |
| % | |||||||||||
AEC | $ | 397.0 |
|
| $ | 334.2 |
|
| $ | 62.8 |
|
| 19 | % |
AutoCAD and AutoCAD LT | 271.9 |
|
| 231.3 |
|
| 40.6 |
|
| 18 | % | |||
MFG | 185.5 |
|
| 174.6 |
|
| 10.9 |
|
| 6 | % | |||
M&E | 53.3 |
|
| 50.8 |
|
| 2.5 |
|
| 5 | % | |||
Other | 5.4 |
|
| 5.9 |
|
| (0.5) |
|
| (8) | % | |||
|
| $ | 913.1 |
|
| $ | 796.8 |
|
| $ | 116.3 |
|
| 15 | % |
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 third quarter and full-year fiscal 2021 takes into consideration the current economic environment and foreign exchange currency rate environment. A reconciliation between the fiscal 2021 GAAP and non-GAAP estimates is provided below or in the tables following this press release.
Third Quarter Fiscal 2021
Q3 FY21 Guidance Metrics | Q3 FY21 (ending October 31, 2020) |
Revenue (in millions) | $930 - $945 |
EPS GAAP | $0.42 - $0.48 |
EPS non-GAAP (1) | $0.91 - $0.97 |
_______________ |
(1) Non-GAAP earnings per diluted share excludes $0.45 related to stock-based compensation expense, $0.07 for the amortization of acquisition-related intangibles, $0.01 for acquisition-related costs, and ($0.04) related to GAAP-only tax charges. |
Full Year Fiscal 2021
FY21 Guidance Metrics | FY21 (ending January 31, 2021) |
Billings (in millions) (1) | $4,070 - $4,170 Down (3.0%) - (0.5%) |
Revenue (in millions) (1) | $3,715 - $3,765 Up 13.5% - 15.0% |
GAAP operating margin | 14.5% - 16.0% |
Non-GAAP operating margin (2) | 27.5% - 29.0% |
EPS GAAP | $1.63 - $1.81 |
EPS non-GAAP (3) | $3.72 - $3.90 |
| Free cash flow (in millions) (4) | $1,300 - $1,400 |
| _______________ |
| (1) Excluding the approximately $20 million impact of foreign currency exchange rates and hedge gains/losses, billings guidance would be $4,090 - $4,190 million and revenue guidance would be $3,735 - $3,785 million. |
| (2) Non-GAAP operating margin excludes approximately 11% related to stock-based compensation expense, approximately 2% for the amortization of acquisition-related intangibles, and less than 1% related to acquisition-related costs. |
| (3) Non-GAAP earnings per diluted share excludes $1.80 related to stock-based compensation expense, $0.30 for the amortization of acquisition-related intangibles, $0.14 related to losses on strategic investments and dispositions, $0.04 related to acquisition-related costs, partially offset by ($0.19) related to a GAAP-only tax benefit. |
| (4) Free cash flow is cash flow from operating activities less approximately $95 million of capital expenditures. |
