Autodesk(ADSK)2024-11-26 21:05Revenue and Profitability - Total revenue increased 11% to $1.57 billion in Q3 FY25[3] - Subscription revenue for the three months ended October 31, 2024, was $1.457 billion, compared to $1.314 billion in the same period last year[42] - Total net revenue for the three months ended October 31, 2024, reached $1.570 billion, up from $1.414 billion in the previous year[42] - Gross profit for the three months ended October 31, 2024, was $1.423 billion, compared to $1.287 billion in the same period last year[42] - Net income for the three months ended October 31, 2024, was $275 million, up from $241 million in the previous year[42] - Net income for the nine months ended October 31, 2024, was $809 million, compared to $624 million in the same period in 2023[46] - Full-year FY25 revenue guidance is $6.115 billion to $6.130 billion, up approximately 11%[15] Operating Margins and Earnings - GAAP operating margin was 22%, down 2 percentage points[3] - Non-GAAP operating margin was 36%, down 3 percentage points[3] - GAAP diluted EPS was $1.27; Non-GAAP diluted EPS was $2.17[3] - Non-GAAP operating margin for the nine months ended October 31, 2024, was 36%, compared to 36% in 2023[51] - Non-GAAP income from operations for the nine months ended October 31, 2024, was $1,623 million, compared to $1,440 million in 2023[51] - Non-GAAP diluted net income per share for the nine months ended October 31, 2024, was $6.18, compared to $5.51 in 2023[53] Cash Flow and Financial Position - Cash flow from operating activities was $209 million; free cash flow was $199 million[3] - Net cash provided by operating activities for the nine months ended October 31, 2024, was $915 million, compared to $876 million in 2023[46] - Free cash flow for the nine months ended October 31, 2024, was $889 million, compared to $855 million in 2023[53] - Total current assets as of October 31, 2024, were $2.899 billion, compared to $3.579 billion as of January 31, 2024[44] - Deferred revenue as of October 31, 2024, was $3.277 billion, down from $3.500 billion as of January 31, 2024[44] - Total liabilities and stockholders' equity as of October 31, 2024, were $10.133 billion, compared to $9.912 billion as of January 31, 2024[44] Expenses and Costs - Research and development expenses for the three months ended October 31, 2024, were $378 million, up from $339 million in the same period last year[42] - Marketing and sales expenses for the three months ended October 31, 2024, were $525 million, compared to $439 million in the previous year[42] - Total operating expenses for the three months ended October 31, 2024, were $1.077 billion, up from $953 million in the same period last year[42] - Stock-based compensation expense for the nine months ended October 31, 2024, was $500 million, compared to $543 million in 2023[51] - Amortization of developed technologies for the nine months ended October 31, 2024, was $59 million, compared to $31 million in 2023[51] - Acquisition-related costs for the nine months ended October 31, 2024, were $39 million, compared to $16 million in 2023[51] Business Performance Metrics - Total billings increased 28% to $1.54 billion[5] - Recurring revenue represents 97% of total revenue[6] - Net revenue retention rate remained within the range of 100 to 110% on a constant currency basis[8] - Remaining performance obligations (RPO) increased 17% to $6.11 billion[8] - Business combinations, net of cash acquired, amounted to $801 million in the nine months ended October 31, 2024, compared to $44 million in 2023[46]