Net Revenue by Product Family | ||||||||||||||
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Our product offerings are focused in four primary product families: AEC, AutoCAD and AutoCAD LT, MFG, and M&E. | ||||||||||||||
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| Fiscal Year Ended |
| Change compared to
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(In millions, except percentages) | January 31, 2021 |
| January 31, 2020 | $ |
| % | ||||||||
AEC | $ | 1,648.6 |
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| $ | 1,377.1 |
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| $ | 271.5 |
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| 20 | % |
AutoCAD and AutoCAD LT | 1,099.4 |
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| 948.2 |
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| 151.2 |
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| 16 | % | |||
MFG | 798.6 |
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| 726.1 |
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| 72.5 |
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| 10 | % | |||
M&E | 219.4 |
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| 199.2 |
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| 20.2 |
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| 10 | % | |||
Other | 24.4 |
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| 23.7 |
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| 0.7 |
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| 3 | % | |||
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| $ | 3,790.4 |
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| $ | 3,274.3 |
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| 516.1 |
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| 16 | % | |
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 first quarter and full-year fiscal 2022 takes into consideration the current economic environment and foreign exchange currency rate environment. A reconciliation between the fiscal 2022 GAAP and non-GAAP estimates is provided below or in the tables later in this document.
First Quarter Fiscal 2022
Q1 FY22 Guidance Metrics (1) | Q1 FY22
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Revenue (in millions) | $955 - $970 |
EPS GAAP | $0.39 - $0.44 |
EPS non-GAAP (2) | $0.91 - $0.96 |
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(1) | Guidance does not include the impact of the acquisition of Innovyze. | ||||
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(2) | Non-GAAP earnings per diluted share excludes $0.51 related to stock-based compensation expense, $0.07 for the amortization of purchased intangibles, $0.02 for acquisition-related costs, partially offset by ($0.08) related to a GAAP-only tax benefit. | ||||
Full-Year Fiscal 2022
FY22 Guidance Metrics (1) | FY22
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Billings (in millions) (2) | $4,850 - $4,975
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Revenue (in millions) (3) | $4,265 - $4,345
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GAAP operating margin | 17% - 18% |
Non-GAAP operating margin (4) | 31% - 32% |
EPS GAAP | $2.39 - $2.69 |
EPS non-GAAP (5) | $4.78 - $5.08 |
| Free cash flow (in millions) (6) | $1,575 - $1,650 |
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| (1) | Guidance does not include the impact of the acquisition of Innovyze. | |||||
| (2) | Excluding the approximately $70 million impact of foreign currency exchange rates and hedge gains/losses, billings guidance would be $4,780 - $4,905 million. | |||||
| (3) | Excluding the approximately $55 million impact of foreign currency exchange rates and hedge gains/losses, revenue guidance would be $4,210 - $4,290 million. | |||||
| (4) | Non-GAAP operating margin excludes approximately 13% related to stock-based compensation expense, approximately 1% for the amortization of purchased intangibles, and less than 1% related to acquisition-related costs. | |||||
| (5) | Non-GAAP earnings per diluted share excludes $2.44 related to stock-based compensation expense, $0.27 for the amortization of purchased intangibles, $0.04 related to acquisition-related costs, partially offset by ($0.36) related to a GAAP-only tax benefit. | |||||
| (6) | Free cash flow is cash flow from operating activities less approximately $75 million of capital expenditures. | |||||
