Autodesk, Inc. (ADSK) Citi's 2023 Global Technology Conference (Transcript)

Financial Data and Key Metrics Changes - The company has seen strong performance in the last quarter, exceeding investor expectations despite macroeconomic concerns [20][21] - The Architecture Billing Index (ABI) indicates a healthy nine to ten months backlog for customers, suggesting stability in the construction sector [21] Business Line Data and Key Metrics Changes - Autodesk Construction Solutions has made significant progress in integrating acquired technologies into a single platform, enhancing project management capabilities [11][12] - The company is focusing on monetizing opportunities across enterprise, mid-market, and smaller contractors, indicating a broad growth strategy [9] Market Data and Key Metrics Changes - The total addressable market (TAM) for Autodesk in construction is estimated at $15 billion, with significant growth potential as digitization in the industry continues to evolve [9][16] - The company is expanding its presence in EMEA and Asia-Pacific markets, leveraging strong channel partnerships to reach new customers [18] Company Strategy and Development Direction - Autodesk aims to connect design, construction, and manufacturing through its platform, positioning itself for future trends in offsite and modular construction [12][14] - The integration of construction sales teams into the broader Autodesk sales organization is expected to drive efficiencies and enhance customer engagement [30][32] Management's Comments on Operating Environment and Future Outlook - Management acknowledges challenges in the construction industry, particularly in workforce availability, but sees opportunities for technology to improve efficiency [22][55] - The company is optimistic about the ongoing digitization trends and the potential for growth in sectors like data centers, hospitals, and infrastructure projects [27][28] Other Important Information - Autodesk is investing in training programs for future construction workers, partnering with unions and educational institutions to enhance workforce skills [54][55] - The company is focusing on customer experience and product reliability as key areas for investment moving forward [62] Q&A Session Summary Question: How is Autodesk addressing the impact of the IRA on construction spending? - Management believes that the IRA is a small addition to a much larger infrastructure spending landscape, which remains robust even without it [57][58] Question: What are the top priorities for Autodesk as it integrates its teams? - The top priorities include enhancing product delivery, expanding market presence, and improving customer experience [60][62]