Accelerated Annualized Recurring Revenue (ARR) Growth Highlights Autodesk's Second Quarter Results
SAN RAFAEL, Calif., August 23, 2018 /PRNewswire/ — Autodesk, Inc. (NASDAQ: ADSK) has announced its financial results for the second quarter of fiscal 2019.
[Image: PRNewsfoto/Autodesk, Inc.]
**Second Quarter Fiscal 2019 Highlights**
- Subscription plan Annual Recurring Revenue (ARR) reached $1.68 billion, representing an 115% increase compared to the same period last year on a reported basis and 111% on a constant currency basis.
- Total ARR was $2.35 billion, up 28% year-over-year as reported, and 27% on a constant currency basis.
- Subscription plan subscriptions increased by 290,000 from the first quarter of fiscal 2019, reaching 2.86 million at the end of the second quarter.
- Total subscriptions rose by 119,000, ending the quarter at 3.94 million.
- Deferred revenue totaled $1.80 billion, showing a 1% increase from the previous year's second quarter.
- Revenue for the quarter was $612 million, reflecting a 22% growth compared to the same period last year.
- Billings were $605 million, marking a 27% increase over the prior year's second quarter.
- GAAP total spend was $636 million, up 4% compared to the second quarter last year.
- Non-GAAP total spend was $556 million, an increase of 5% from the previous year.
- GAAP diluted net loss per share was $(0.18), while non-GAAP diluted earnings per share were $0.19.
Autodesk's CEO, Andrew Anagnost, highlighted the strong customer demand and execution across the business, which contributed to the growth in ARR and ARPS. He noted that the user experience is driving new customers to adopt Autodesk's subscription and cloud offerings, with a steady migration from maintenance plans to subscriptions.
Scott Herren, Autodesk's CFO, emphasized the positive performance in key metrics such as billings, revenue, deferred revenue, and earnings. The company also reported positive cash flow from operations and expects to be cash flow positive for the year.
**Operational Overview**
Subscription plan ARR stood at $1.68 billion, up 115% year-over-year. This includes $342 million related to the maintenance-to-subscription program. Maintenance plan ARR decreased by 36% compared to the same period last year. Total ARR was $2.35 billion, a 28% increase from the previous year.
Subscription plan subscriptions were 2.86 million, a net increase of 290,000 from the first quarter of fiscal 2019. Maintenance plan subscriptions dropped by 172,000, with 117,000 migrating to product subscriptions. Total subscriptions reached 3.94 million, up 119,000 from the previous quarter.
Recurring revenue accounted for 96% of total revenue in the second quarter, compared to 91% in the same period last year.
Revenue in the Americas grew by 16%, EMEA by 25%, and APAC by 31% compared to the second quarter of the previous year.
**Business Outlook**
Autodesk provided forward-looking guidance based on current expectations, assuming the continuation of the current economic and foreign exchange environments. The company outlined expected revenue, EPS, and other financial metrics for the third quarter and full fiscal year 2019.
**Financial Statements**
The condensed consolidated statements of operations, balance sheets, and cash flows are detailed in the accompanying tables. These include net revenue, cost of revenue, operating expenses, and various financial measures for the six months ended July 31, 2018, and January 31, 2018.
**Glossary of Terms**
Definitions for key terms such as Annualized Recurring Revenue (ARR), Annualized Revenue Per Subscription (ARPS), Billings, Cloud Service Offerings, Constant Currency Growth Rates, Enterprise Business Agreements (EBAs), Free Cash Flow, Maintenance Plan, Other Revenue, Product Subscription, Recurring Revenue, Subscription Plan, Subscription Revenue, Total Deferred Revenue, Total Subscriptions, Unbilled Deferred Revenue, and Safe Harbor Statement are provided for clarity.
**About Autodesk**
Autodesk develops software used by people who create things. From high-performance cars to skyscrapers, smartphones, and films, millions of Autodesk customers use its software to bring their ideas to life. For more information, visit autodesk.com or follow @autodesk.
**Note:** This press release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially due to various factors including market conditions, business model transitions, and other external influences. Autodesk disclaims any obligation to update these forward-looking statements.
HuiJie Steel Pipe manufacturing High precision DOM steel tubing including cold drawn welded tubes,cold rolled welded tubes,
variety application for the telescopic cylinders,Hydraulic cylinders,pneumatic cylinders and shafts,shock absorber,gas spring,
precision rollers and bushes,agricultural machinery,engineering machinery.The good quality of Electric welded mother tubes
ensure that our tubes with better inner roughness,concertricity,straightness,The size range can be from outside diameter from
6 to 329mm,wall thickness 0.8 to 18mm.
The DOM round tubing can be produced according to the international standards:
CDW DIN2393/DIN2394 St52,St45,St37 Cold Drawn Welded Tubes,cold rolled welded tubes,
CDW EN10305-2 E355,E275,E235,S355J2 Cold drawn welded precision steel tubes
DOM ASTM A513 SAE1045,1541,1026,4130,1020welded drawn over mandrel steel tubing
Dom Steel Pipes,Dom Cold Drawn Pipes,Dom Cold Rolled Tubing,Dom Steel Tubing For Bushing
Ningbo Huijie Steel Pipe Manufacturing Co.,Ltd , https://www.hjbearingtube.com