Stock Analysis on Net
Stock Analysis on Net

Autodesk Inc. (NASDAQ:ADSK)

$22.49

This company has been moved to the archive! The financial data has not been updated since December 3, 2024.

Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

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Autodesk Inc., consolidated income statement (quarterly data)

US$ in millions

Microsoft Excel
3 months ended: Oct 31, 2024 Jul 31, 2024 Apr 30, 2024 Jan 31, 2024 Oct 31, 2023 Jul 31, 2023 Apr 30, 2023 Jan 31, 2023 Oct 31, 2022 Jul 31, 2022 Apr 30, 2022 Jan 31, 2022 Oct 31, 2021 Jul 31, 2021 Apr 30, 2021 Jan 31, 2021 Oct 31, 2020 Jul 31, 2020 Apr 30, 2020 Jan 31, 2020 Oct 31, 2019 Jul 31, 2019 Apr 30, 2019 Jan 31, 2019 Oct 31, 2018 Jul 31, 2018 Apr 30, 2018
Subscription
Maintenance
Subscription and maintenance revenue
Other
Net revenue
Cost of subscription and maintenance revenue
Cost of other revenue
Amortization of developed technologies
Cost of revenue
Gross profit
Marketing and sales
Research and development
General and administrative
Amortization of purchased intangibles
Restructuring and other exit costs, net
Operating expenses
Income (loss) from operations
Interest and other income (expense), net
Income (loss) before income taxes
(Provision) benefit for income taxes
Net income (loss)

Based on: 10-Q (reporting date: 2024-10-31), 10-Q (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-K (reporting date: 2024-01-31), 10-Q (reporting date: 2023-10-31), 10-Q (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-31), 10-Q (reporting date: 2022-10-31), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-31), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-10-31), 10-Q (reporting date: 2020-07-31), 10-Q (reporting date: 2020-04-30), 10-K (reporting date: 2020-01-31), 10-Q (reporting date: 2019-10-31), 10-Q (reporting date: 2019-07-31), 10-Q (reporting date: 2019-04-30), 10-K (reporting date: 2019-01-31), 10-Q (reporting date: 2018-10-31), 10-Q (reporting date: 2018-07-31), 10-Q (reporting date: 2018-04-30).

The financial performance presented demonstrates a significant evolution over the observed period. Initially, net revenue exhibited growth from April 2018 to January 2019, followed by a period of relative stability before resuming a more consistent upward trajectory. Subscription revenue consistently contributed the largest portion of net revenue, and demonstrated strong growth throughout the period, while maintenance revenue steadily declined.

Gross profit mirrored the revenue trends, experiencing initial growth, a period of fluctuation, and then a sustained increase. However, operating expenses increased at a faster rate than gross profit, particularly in later periods, impacting overall profitability. The composition of operating expenses shifted, with marketing and sales, and research and development consistently representing the largest portions.

Revenue Composition
Subscription revenue has become increasingly dominant, growing from US$350 million in April 2018 to US$1,408 million in April 2024. Conversely, maintenance revenue experienced a substantial decline, falling from US$181 million to US$9 million over the same period. Other revenue showed more variability, with increases in later periods.
Profitability Trends
Income from operations initially fluctuated, showing a loss in early periods, before becoming consistently positive. However, the rate of increase in income from operations was impacted by rising operating expenses. Net income exhibited significant volatility, including a substantial increase in January 2021, driven by a large benefit for income taxes, but generally followed the trend of income from operations.
Cost Analysis
Cost of revenue increased in line with revenue growth, but the amortization of developed technologies and purchased intangibles also contributed significantly to overall costs, with the latter increasing substantially in later periods. The increasing costs of marketing and sales, and research and development, represent a significant investment in future growth.

The period from January 2023 to July 2024 shows continued revenue growth, with subscription revenue driving the majority of this increase. However, operating expenses also continued to rise, particularly general and administrative expenses, and marketing and sales, impacting net income. The provision for income taxes also fluctuated significantly, impacting the final net income figures.

Tax Impact
The (provision) benefit for income taxes exhibited considerable fluctuation, notably a large benefit in January 2021, significantly impacting net income for that period. This variability suggests potential changes in tax strategies or applicable tax rates.

Overall, the financial performance indicates a successful transition towards a subscription-based revenue model, with strong growth in subscription revenue. However, managing operating expenses and navigating tax implications remain key challenges for sustained profitability.