Autodesk Reiterates Third Quarter and Fiscal Year 2016 Business Outlook at Annual Investor Day

**Public Company Information:** NASDAQ: ADSK **SAN FRANCISCO—(BUSINESS WIRE)—** Autodesk, Inc. (NASDAQ:ADSK), a global leader in design and engineering software solutions, is currently hosting its annual Investor Day event at the Autodesk Gallery in San Francisco. During this event, the company will provide a detailed update on its ongoing transition to a subscription-based business model and outline plans for expanding its market reach. Additionally, Autodesk will reaffirm its business outlook for the third quarter and fiscal year 2016. "Autodesk is swiftly capitalizing on the industry's shift from desktop applications to cloud-based platforms," stated Carl Bass, President and CEO of Autodesk. "This move allows our customers to rethink their approaches to design, simulation, production, and collaboration. We’ve been preparing for this transformation for over two years, and now we're stepping up the pace. Our goal is to evolve our business model to empower customers to embrace a new era of innovation." At today’s Investor Day event, Bass will be joined by other senior leaders within Autodesk to discuss market opportunities, provide updates on the company's business model transition, and share insights into financial metrics and corporate strategy. --- ### **Business Outlook** The following statements represent forward-looking projections based on current expectations and assumptions. These projections carry inherent risks and uncertainties, as outlined below under the "Safe Harbor" section. Autodesk’s business outlook for the third quarter and fiscal year 2016 assumes a continued stable economic climate and foreign exchange currency rates. A reconciliation of GAAP and non-GAAP estimates for fiscal 2016 is provided either in the tables accompanying this press release or below. #### **Third Quarter Fiscal 2016** | **Q3 FY16 Guidance Metrics** | | | | **Q3 FY16 (ending October 31, 2015)** | |----------------------------------------|----------------|----------------|----------------|---------------------------------------| | **Revenue (in millions)** | | | | $580 – $600 | | **EPS GAAP** | | | | ($0.23) – ($0.18) | | **EPS Non-GAAP (1)** | | | | $0.05 – $0.10 | *Note: Non-GAAP earnings per diluted share exclude $0.21 associated with stock-based compensation expenses and $0.07 related to the amortization of acquisition-related intangible assets, net of tax.* --- #### **Full Year Fiscal 2016** | **FY16 Guidance Metrics** | | | | **FY16 (ending January 31, 2016)** | |----------------------------------------|----------------|----------------|----------------|---------------------------------------| | **Billings Growth (1)** | | | | 2% – 4% | | **Revenue (in millions) (2)** | | | | $2,465 – $2,505 | | **GAAP Operating Margin** | | | | (-2)% – (-1)% | | **Non-GAAP Operating Margin (3)** | | | | 9% – 10% | | **EPS GAAP (4)** | | | | (-$1.39) – (-$1.27) | | **EPS Non-GAAP (5)** | | | | $0.60 – $0.72 | | **Net Subscription Additions** | | | | 375,000 – 425,000 | *Note: (1) On a constant currency basis, billings growth would be 9% – 11%. (2) On a constant currency basis, revenue growth would be 3% – 5%. (3) Non-GAAP operating margin excludes 8% related to stock-based compensation expenses and 3% for the amortization of acquisition-related intangible assets. (4) GAAP net loss per diluted share includes $0.94 related to the non-cash GAAP tax charge of $214 million to reduce U.S. deferred tax assets. This charge reflects the business model transition and the resulting reduction in our pre-tax U.S. GAAP profitability. (5) Non-GAAP earnings per diluted share exclude $0.94 related to the non-cash GAAP tax charge to reduce U.S. deferred tax assets, $0.75 related to stock-based compensation expenses, and $0.31 for the amortization of acquisition-related intangible assets, offset by $0.01 for gains on strategic investments, net of tax.* The third quarter and full year fiscal 2016 outlook assume an estimated annual effective tax rate of 24% and 26% for GAAP and non-GAAP results, respectively. --- ### **Investor Day Meeting Webcast** For those interested in attending the live webcast, please visit [www.autodesk.com/investors](http://www.autodesk.com/investors) to watch the event with Autodesk management starting today at 8:30 a.m. PT. The live audio broadcast with slides will be available at [http://www.autodesk.com/investors](http://www.autodesk.com/investors). A replay of the webcast and podcast will be accessible later today on our website at [http://www.autodesk.com/investors](http://www.autodesk.com/investors). This recording will remain on the Autodesk website for at least twelve months. --- ### **Safe Harbor Statement** This press release contains forward-looking statements involving risks and uncertainties. Key points include discussions under the "Business Outlook" section above, statements regarding the impacts of our business model transition, expectations surrounding the shift of product offerings to subscription-based services, and other strategic initiatives. Numerous factors could lead to outcomes differing significantly from those mentioned here, such as maintaining revenue growth and profitability, managing transitions to new business models and markets, dealing with unforeseen expenses during the business model shift, and adapting to changes in global market conditions. Additional considerations include fluctuations in foreign currency exchange rates, government fiscal stability, and unpredictable trends in our served industries. Further details on these potential influencing factors can be found in Autodesk’s Annual Report on Form 10-K for the year ended January 31, 2015, and Form 10-Q for the quarters ended April 30, 2015, and July 31, 2015, both of which are filed with the U.S. Securities and Exchange Commission. Autodesk does not undertake any obligation to update these forward-looking statements to reflect events occurring or circumstances arising after the date they were made. --- ### **About Autodesk** Autodesk empowers people to imagine, design, and create a better world. From professionals in architecture and engineering to students and hobbyists, individuals across diverse fields rely on Autodesk’s innovative tools to fuel creativity and address critical challenges. Learn more at [autodesk.com](http://autodesk.com) or follow us on Twitter at [@autodesk](https://twitter.com/autodesk). --- ### **Contact Information** **Autodesk, Inc.** **Investors:** David Gennarelli Phone: 415-507-6033 Email: david@autodesk.com **Press:** Noah Cole Phone: 415-580-3535 Email: noah@autodesk.com --- This document reflects the real-time insights and forward-looking guidance provided by Autodesk, capturing the dynamic nature of the company’s strategic direction and commitment to innovation.

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