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").
|
| Three Months
|
| Three Months
|
| Change compared to
| ||
(In millions, except percentages) |
| $ |
| % | |||
AEC | $ 627 |
| $ 564 |
| $ 63 |
| 11 % |
AutoCAD and AutoCAD LT | 364 |
| 344 |
| 20 |
| 6 % |
MFG | 256 |
| 242 |
| 14 |
| 6 % |
M&E | 74 |
| 71 |
| 3 |
| 4 % |
Other | 24 |
| 16 |
| 8 |
| 50 % |
Total Net Revenue | $ 1,345 |
| $ 1,237 |
| $ 108 |
| 9 % |
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 2024 considers the current economic environment and foreign exchange currency rate environment. A reconciliation between the fiscal 2024 GAAP and non-GAAP estimates is provided below or in the tables following this press release.
Third Quarter Fiscal 2024
Q3 FY24 Guidance Metrics | Q3 FY24
|
Revenue (in millions) | $1,380 - $1,395 |
EPS GAAP | $1.02 - $1.08 |
EPS non-GAAP (1) | $1.97 - $2.03 |
____________________ |
(1) Non-GAAP earnings per diluted share excludes $0.85 related to stock-based compensation expense, $0.10 for the amortization of both purchased intangibles and developed technologies, and $0.01 for acquisition-related costs, partially offset by ($0.01) related to GAAP-only tax charges. |
Full Year Fiscal 2024
FY24 Guidance Metrics | FY24
|
Billings (in millions) (1) | $5,075 - $5,175
|
Revenue (in millions) (2) | $5,405 - $5,455
|
GAAP operating margin | Approx. flat year over year |
Non-GAAP operating margin (3) | Approx. flat year over year |
EPS GAAP | $3.75 - $3.94 |
EPS non-GAAP (4) | $7.30 - $7.49 |
Free cash flow (in millions) (5) | $1,170 - $1,250 |
| ____________________ |
| (1) Excluding the impact of foreign currency exchange rates and hedge gains/losses, billings guidance would be down approx. 11% - 9%. |
| (2) Excluding the impact of foreign currency exchange rates and hedge gains/losses, revenue guidance would be up approx. 11% - 12%+ (impacted by rounding). |
| (3) Non-GAAP operating margin excludes approximately 13% related to stock-based compensation expense, approximately 2% for the amortization of both purchased intangibles and developed technologies, less than 1% related to acquisition-related costs and less than 1% related to lease-related asset impairments. |
| (4) Non-GAAP earnings per diluted share excludes $3.34 related to stock-based compensation expense, $0.39 for the amortization of both purchased intangibles and developed technologies, $0.07 related to losses on strategic investments and dispositions, net, $0.04 related to acquisition-related costs, and $0.03 for lease-related asset impairments, partially offset by ($0.32) related to GAAP-only tax charges. |
| (5) Free cash flow is cash flow from operating activities less approximately $30 million of capital expenditures. |
