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 prior fiscal year | ||||
(In millions, except percentages) (1) | January 31, 2023 |
| January 31, 2022 | $ |
| % | |
AEC (2) | $ 2,278 |
| $ 1,969 |
| $ 309 |
| 16 % |
AutoCAD and AutoCAD LT (2) | 1,387 |
| 1,244 |
| 143 |
| 11 % |
MFG | 978 |
| 876 |
| 102 |
| 12 % |
M&E | 291 |
| 259 |
| 32 |
| 12 % |
Other | 71 |
| 38 |
| 33 |
| 87 % |
Total Net Revenue | $ 5,005 |
| $ 4,386 |
| $ 619 |
| 14 % |
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____________________ |
(1) In the current fiscal year, the Company changed its rounding presentation to the nearest whole number in millions of reported amounts, except per share data or as otherwise noted. The current year rounding presentation has been applied to all prior year amounts presented and, in certain circumstances, this change may adjust previously reported balances. |
(2) During the current fiscal year, the Company corrected an immaterial classification error and reclassified certain revenue amounts between Architecture, Engineering and Construction and AutoCAD and AutoCAD LT. The fiscal year ended January 31, 2022 has been adjusted to conform to the current period presentation. These reclassifications did not impact total net revenue. |
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 2024 takes into consideration the current economic environment and foreign exchange currency rate environment. A reconciliation between the fiscal 2023 GAAP and non-GAAP estimates is provided below or in the tables later in this document.
First Quarter Fiscal 2024 | |
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| |
Q1 FY24 Guidance Metrics | Q1 FY24
|
Revenue (in millions) | $1,260 - $1,275 |
EPS GAAP | $0.74 - $0.80 |
EPS non-GAAP (1) | $1.50- $1.56 |
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________________ |
(1) Non-GAAP earnings per diluted share excludes $0.75 related to stock-based compensation expense, $0.09 for the amortization of purchased intangibles, $0.01 for acquisition-related costs, partially offset by ($0.09) related to GAAP-only tax charges. |
Full-Year Fiscal 2024 | |
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| |
FY24 Guidance Metrics | FY24
|
Billings (in millions) (1) | $5,025 - $5,175
|
Revenue (in millions) (2) | $5,355 - $5,455
|
| GAAP operating margin | Approx. flat year over year |
| Non-GAAP operating margin (3) | Approx. flat year over year |
| EPS GAAP | $3.63 - $3.97 |
| EPS non-GAAP (4) | $6.98 - $7.32 |
| Free cash flow (in millions) (5) | $1,150 - $1,250 |
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| ________________ |
| (1) Excluding the approximate 2 ppt impact of foreign currency exchange rates and hedge gains/losses, billings guidance would be down 11% to 9%. |
| (2) Excluding the approximate 4 ppt impact of foreign currency exchange rates and hedge gains/losses, revenue guidance would be up 11% to 13%. |
| (3) Non-GAAP operating margin excludes approximately 13% related to stock-based compensation expense, approximately 2% for the amortization of purchased intangibles and less than 1% related to acquisition-related costs. |
| (4) Non-GAAP earnings per diluted share excludes $3.31 related to stock-based compensation expense, $0.37 for the amortization of purchased intangibles, and $0.02 related to acquisition-related costs, partially offset by ($0.35) related to GAAP-only tax charges. |
| (5) Free cash flow is cash flow from operating activities less approximately $35 million of capital expenditures. |
